Today a client of mine asked me for my opinion of value for a home he was interested in. The following is information I gleaned during my analysis.
1) The market in Davis, Ca is remarkably cyclical. This is a phenomenon our community sees year after year. See attached graph
2) I did a comparison of a market analysis I did in July vs. the market valuation I did today (11/29/2018). In my estimation there has been an approximate $126,000 swing in value. This is a remarkable difference and yet I see it year after year. Historically prices begin to climb again in February, get crazy in April and May, and top out in July or August. See comparison below.
3) If you know what you are looking for you can spot fantastic deals right now. Take a look at the graph below. The blue circles are homes that have sold in the past three months. The yellow squares are home currently pending. The green triangles are homes that are currently active. Which active home would you look at buying right now. The 1905 square foot home priced at $599,000 looks like a smokin deal to me. What do you think?
Naturally buying a home entails a lot more than just price and every valuation is slightly different. Neighborhoods act differently too. If you are thinking of buying a home take a moment and reach out to me now. Let's dig into where you want to live and how we can go about finding you the perfect home at a great price!
The GoodHome Group RE/MAX Gold