Hey Mack, how is the market?

 

In a word-- HISTORIC. With listing inventory hitting record lows, home values are soaring in the Central Valley. Meanwhile interest rates are still holding at unprecedented lows, creating a whirlwind of buyers all bidding on the same limited homes currently on the market.

Our local Fresno market is in a unique position as well in terms of desirability. We have a large number of buyers moving here from bigger metropolis areas like the Bay Area and LA now that many large companies based out of these areas have transitioned to fully-remote work. Because these employees are now working from home full-time, there is no need for them to live nearby their office in a big city anymore. These buyers are flocking towards the Fresno market since it is more affordable yet still offers the quintessential California living that they want. With this large influx of out-of-town buyers, we are seeing the already stiff competition become even more competitive as the demand intensifies. But have no fear buyers— I offer my client’s the strategies needed to position them to win in these multiple offer situations.

Here’s a cheat sheet on what buyers and seller’s should expect in today’s market:

BUYERS:

  • Low interest rates increasing buying power (more house for less money!)

  • Multiple offer situations

  • Bringing your highest and best offer from the jump

  • Me coaching you to trust the process. The right house for you will work out. Every. Time.

SELLERS:

  • A large amount of inquiries and requests for showings on your home

  • Multiple offer situations and bidding wars

  • Less contingencies= less problems. Many buyers are removing certain contingencies like inspection, appraisal, and loan contingencies at the time of their offer making contracts more solid than ever

  • The process to move quickly! The average days on market for my listings is 4 days. Time to get those movers lined up!

In summary, home values are climbing in Fresno. Plain and simple. If there has ever been a time to jump in to the real estate market as a seller OR buyer, it is now.

Want to talk more shop? Let's chat! Fill out a contact form here or call/text me at 559.977.2287.

 
real estateMacKenzie Hartung#themackadvantage, first-time buyers, sellers, interest rates, market update, buy, sellComment