Rates have come down, around 4% now. It would seem low rates would help trigger buyers that are on the fence buying a house in Roseville; however, people seem to focus more on price than rates. It makes sense. I did notice something rare yesterday. The treasury bonds for the 1 month were better then the 10 year. For those that don't know what that means, it suggests that there is concern of economy. Things have been going pretty good since Trump came into office, but it never lasts forever. A recession is predicted by some in the next 18-24 months. I'm in agreement, although I think it will be more of a slow down with GDP and a market correction. If you look at the charts and what real estate prices have done since the bottom of 2012, its about 20% appropriation a year. That's been a great ride, brought prices back to where there were in 2005, but 20% a year is unsustainable.
Some investors are liquidating and looking to sit on cash. It wasn't that long ago when things collapsed and no one seemed to have any cash to take advantage on the situation. We learn from our mistakes. I'm looking to pick up another rental property but I'm steadfast and want a deal like everyone else. I did pick up a rental last year in Citrus Heights. The numbers worked and it's cash flowing. They are out there! If you're looking for a good income property, I can help with that.
Below is a chart for Placer county showing the houses for sale vs sold houses and pending. In spring we tend to have an upward tend and downward in the winter. This is looking very typical for the housing market in our area.
If you're a first time buyer, make sure your comfortable with the payment and make sure you get a good real estate agent to help guide you so you don't end up with a lemon. Happy to help if you have questions!
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