The Optimism of a Post-Labor Day Market

Dated: September 12 2022

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With summer gently easing into fall, the changing weather reflects a changing market. As inventory remains high, prices continue to drop, interest rate incline takes a pause, and our cities are opening back up, there are a lot of reasons to be optimistic about this upcoming season in Real Estate.

 

September and October are prime buying months: a “sweet spot” medley of higher inventory combined with falling prices. Sellers are more likely to sell in the summer months, meaning that Buyers have more options but less negotiating power, whereas in the winter months, we see fewer options but greater price flexibility. Autumn is that delicious blend of both: where higher inventory from the summer months meets lower prices from the winter months. This autumn is no exception: it is lining up to be great.

 

The other good news is that interest rates are taking a bit of a pause. Inflation has remained steady over the last couple of months, indicating that the Federal Reserve may slow the rollouts of interest rate hikes. While the current interest rates are higher than the record-low rates of the last two years, they are still considered historically “normal”; in fact, they are optimal compared to what they may look like in the future. And while interest rates are important, all that goes into the homebuying decision – your lifestyle, budget, and priorities– matters so much more than whatever rate you get.

 

What’s more, there are special programs available to make homebuying more accessible. First Republic is offering a special financing option for designated areas and neighborhoods, the Eagle Community Home Program. In fact, two of our listings qualify for this exciting loan! Silicon Valley Bank is offering a below-market rate, providing financing for home buyers who meet specific incoming guidelines. Our new, modern, and exciting community, The London, now qualifies for this fantastic opportunity!

 

Our beloved cities are opening back up. Take Jack London Square - seven new restaurants promise to reinvigorate the landscape of our neighborhood and inject new life into the “destination dining” environment we have thoughtfully cultivated over the years. Our love for our cities keeps them moving forward, and the Bay Area at large is committing with renewed vigor.  

 

There is a lot of confusion and uneasiness in today’s current climate, but amid confusion and uncertainty we know there is opportunity. These hopeful changes are opportunities you should seize before it’s too late. We are proud to share our exciting listings for sale in Oakland and beyond: now is the time!

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Kim Cole

Kim Cole Real Estate brings more than 25 years of expertise in local residential sales, marketing, and escrow management to each client relationship. In-depth knowledge, strategic insight, and broad r....

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