For a while now, many homeowners have delayed selling their South Bay properties because they were afraid that their homes were still devalued from the housing crisis. No one wants to sell when they believe their property may be worth more, right? Well, I’d like to quell your fears by letting you know your home is definitely back up in value. Home values have been steadily rising for the past several years now. Home values are expected to go up another 3% by the end of fall 2015.
Zillow recently conducted a study proving that most homes are already back to where they were before the recession. In the South Bay, home values are so high that people are paying record prices for properties.
The housing crisis is becoming an increasingly distant memory for most of the South Bay. As luxury properties on the Peninsula and in neighborhoods such as Manhattan Beach are being purchased by buyers that recognize that home values can only go up from here, sellers are in a fantastic position to recoup their investments and make a huge profit. If you have been on the fence about whether to list your South Bay property or to wait and see if the market has settled before doing so, know that you may miss out on a fantastic opportunity to sell your property in a complete seller’s market in which buyers are so eager to purchase in this area that they are including escalation clauses in their offers and competing with one another. If you have questions about possibly listing your home, let me know. I’d love to let you know the truth about the strong value of your South Bay property.