As this year comes to a close, I sit back and reflect on the past year for Imperial Beach Real Estate.
The Good: Great interest rates throughout the year, dipping below 4% at times. Motivated, qualified buyers looking to buy their first home. Affordability for buyers has risen. A decent inventory for most of the year. Rents remain stable. IB is still a desirable place to call home. Market time for both sales and rentals has been fairly low if priced correctly. Sellers and landlords have been more in-line with listing prices.
The Challenges: Short Sale transactions. Looming foreclosures. Out of area appraisers. Physical condition of inventory. HOA’s with high dues, delinquency and low owner occupancy.
All and All: Although transactions seem to be more challenging, in depth preparation before you buy, sell or rent is the key to a successful transaction. Best to all in the upcoming year!