Market Trends – January 2023
Happy New Year and may 2023 be your BEST year YET! We are excited to have a fresh start and another year full of opportunities and new adventures. Thank you for your continued trust and support.
With only a few days into 2023, market activity has been on the chilly side. Luckily, the forecasts (not that we put too much into predicting the future) tell us that the interest rate hikes are also cooling. The message here is BUY NOW and REFI LATER. Many buyers are still waiting for a crash (not likely) or for rates to come down. Now is the best time for Buyers to get in. The lack of competition and the opportunity to negotiate puts Buyers in a great position. And when rates come down, they can refinance and take advantage of lower payments. Increased price reductions during the winter months may be an excellent time for buyers to aggressively negotiate —and we are master negotiators.
Inventory is, once again, extremely low. This is a-typical in the winter months and is especially so given what our market experienced in the second half of 2022 – 7 interest rate hikes. The good news is that:
One-third of California homeowners have no mortgage*
*That’s approximately 2.36 million free-and-clear homeowners (read the article here).
Why is this good news? For those that may want to make a change in their lives, 100% equity is a strong position to be in – in any market! Even if your home sells for less than what it may have in early 2022, isn’t it time you get to where you want to be? It’s something to think about. To learn more about the median home prices for areas in and around Bay Area, be sure to check out our updated Bay Area Home Price Maps. Let us know if you want to review your options. We are also happy to make personal introductions to a Realtor in any geographic area that you may want to move to OR invest in. Book a 15-minute call with Dawn here.
This month, we are reporting on the median home prices throughout the Bay Area. Also, make sure to check out our Coming Soon development opportunities under “Our Listings & Sales”.
Have an incredible month!
Here’s to creating a better future,
Broker Associate – Team Leader
Dawn is certified from the Program on Negotiation at Harvard Law School
Realtor – Senior Sales Associate
Charles “Chuck” Holcomb
Realtor – Sales Associate
The Dawn Thomas Team guides nice people through real estate matters in Silicon Valley and beach communities of Santa Cruz County. Our mission is to inspire and create the most remarkable real estate experience — one person, one family, one home, one neighborhood at a time. Contact us today and we can assist you in selling or buying your home.
1 Rockview Drive, Santa Cruz
Absolutely stunning Pleasure Point waterfront home with 7-figure remodel and a seawall (one of less than about a dozen in Santa Cruz County). This home is ON the water—no street or trail in between you and that ocean breeze! Check out the Property video
NEW PRICE $5,650,000
831-239-9890 or 650-215-5992 – Brian
650-215-5990 – Dawn
COMING SOON / PRIVATE EXCLUSIVES:
13305 Pierce Road, Saratoga
SPECIAL OFF MARKET OPEN HOUSE: 1/9/23, 9:30 – noon
Rent out the nearly 2900 sf home while you obtain plans/permits to build your dream home on this beautiful approximately 1-acre lot on the flat portion of Pierce Road!
0 Old San Jose Road, Soquel
COMING SOON – DEVELOPMENT OPPORTUNITIES:
La Terra Development
0 Santella Drive, Los Gatos
(Above The Highlands off of
Modern, Luxury Development
7 multi-acreage lots with infrastructure and sweeping views of Silicon Valley! Entire 28+ acre development
Offered at $17,500,000
*Utilities are at each site (PG&E, public water, public sewer)
*Curbs Gutters and paved main roads are completed
*DRE White Paper in hand ready to develop