Pat's Folsom November Column

Real Estate

My November article focuses on why buyers prefer to buy a home during the holidays while sellers tend to prefer to wait.  Enjoy it and send your suggestions to me at pquan@cbnorcal.com, 916.812.4341.  Thanks,

Pat

A Vote for Folsom Real Estate

Voting Booths.  An endless supply of political ads. Nice crisp weather. Break out the jackets and hats. Leaves on the ground. Hot apple cider. The start of the holiday season. Thanksgiving. Bring on the holiday cheer. All of that means that it must be November.  And that means Ice Skating in historic Folsom.  Yes.  Ice skating in Folsom. What a great family activity.  Bring your extended family.  One-on-one time with your child (of any age!). It all starts on Veterans Day, November 11, 2016.  So wear your red, white & blue and start your day at the 16th annual Wayne Spence Folsom Veterans Day Parade.  If you are inclined to have your group be IN the parade, contact the Folsom Parks and Recreation Department.

Unbelievably, we are halfway through the last quarter of 2016.  Did you have plans to buy a home in 2016?  Are you planning to move but waiting?  To see if the market improves?  Until after election?  After your youngest child graduates?  Planning to buy an investment property?  Need to downsize?  Or find a larger home for a growing or multi-generational family?  Many times, the holiday season allows us to assess our goals for this and the upcoming year.

People that are thinking of moving try to schedule their activity around the holiday season.  Sellers aren’t crazy about people wandering through their home as they are planning to have family stay for extended times and preparing for holiday celebrations.  They cringe at the idea of packing up and moving during such a busy season.  Buyers, they too have a lot on their plate but sometimes they’re quite excited about moving.  They’d love to get in a new home by the holidays.  They can show off their new home to family and friends, host that 1st holiday party and break in the oven with a big tasty turkey. In reality, people have to move at all times of the year. Relocations, low interest rates, separation, downsizing, moving out for the first time; those are all valid reasons why people have or want to move. 

I host lots of open houses.  Generally, I get far fewer visitors on those weekend dates when people are traveling, out shopping, watching the 49ers or staying out of the rain.  But when those that do come to an open house, well, they probably have a new home on their mind.  

Is it a good time to sell?  You bet!  There are far fewer homes on the market at this time of year.  Buyers have a better chance to pick yours!  Less competition.

So what’s November real estate in Folsom typically look like?

In 2015, 70 homes were sold in November.  In 2014 and 2013, 61 & 73 respectively.  1105 homes were sold in Folsom in all of 2015 (average of 92 per month).  1000 in 2014 and 1069 in 2013.  So there are far fewer homes sold in November compared to an average month during the year.

What’s happening this year?

Home sales are running just ahead of last year through September 2016.  There’s been 853 homes sold year-to-date with an average price of $480,079, up from last year. Homes sell for 99.4% of list price.  Currently inventory is less than 2 months (a seller’s market!).  Homes that sold were only on the market for an average of 31 days.

Have you been thinking about moving?  Does this create questions in your mind on whether to move? Is it a good time for me to buy or sell? 

I talk with sellers and buyers about these topics and more all the time. With proper planning and a good Realtor (Luckily, I know a really good one….), you can smoothly get to your next stage in life.  For more tips on how to successfully navigate the real estate purchase or sale, or suggestions on Folsom topics, please contact me at Coldwell Banker, 916.812.4341, pquan@cbnorcal.com, www.PatQuan.com.