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21
Feb

Mission Grove

We want to give our Mission Grove neighbor’s a detailed Market Analysis very specific to our area.“The DanielTeam” has the luxury of appraising and selling hundreds of homes every year in the area. This gives us extensive knowledge that we enjoy passing onto our clients especially inour ownneighborhood. This allows potential sellers to make educated decisions of whenand how to properlysell their homes. It is still a great time to sell,home prices are the highest they have been in 7-8 yearsyou just have to be aware of the market and list yourhome accordingly.Generally speaking withinthe past 18 months,home prices in Mission Grove have risen on average 100K. Prices have stabilized for a few reasons,the first being the sheer amount of homeslisted presently, compared to a year ago. In May throughAugust of last year,there were 50-65 listedhomes in 92508, atthe presenttime there are 100-120. Due to the inventory of current homesalmost doubling you don’t have as many offers oneachindividual home, which in turn will not driveprices up as readily.As a seller you cannot be pushing values and expectto sell your home quickly atthe presenttime. Allthings being equal you should not compare yourhome withthe one downthe streetthatsold a month ago and try to get 15k more for yours. The home will sit onthe market, oftentimesleading the seller to lower the price. Any good buyer’s agent willtake advantage of a home being onthe market 50-90days.
The second reason withthe market stabilizing,inour opinionare the lending laws. Gone are the days when you cango to your lender, state your income and get in a home that you cannot afford.As a home buyer you pretty much have to prove without any reasonable doubtthat you will be ableto afford yourhouse payment, without defaulting, over the life of the loan. Every community has apool of buyers that shrinks drastically as home prices rise. How many people do you know in Mission Grove that can afford a $3,000-$3,500a month house payment,AND CAN PROVE IT?

In closing,there are many important factors whenselling your home inthis market,  but those are 2 big ones. Marketing,negotiating, pricing, professionalism and knowledge are allthingssellers should be concerned with whenselecting a Real Estate Group. If you are planning to sell,allow us an interview,let us show you why we have so many satisfied past clients. We promise to go above and beyond any other Real Estate teams inthis area!!