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SOLD The Day it Listed

by Southern Californias Mother & Son Team

You will not believe what took place over the weekend.  Let us give you a little background before we get into it.  We’ve been following up with this elderly couple who live and own their home in Downey for almost 6 months now.  The couple were undecided about whether or not they wanted to move into an assisted care facility just because they’ve been so accustomed to living on their own for so many years and so for the past 6 months they’ve been putting off listing their home with us. 

Now let’s get to the point of the story… They finally decided that it would be a wise idea to move into an assisted care facility and they granted us the listing.  You won’t believe this.  The day we put the sign up on the property we were there standing right in their front lawn and out of nowhere a gentlemen walks up to us and says I would like to put an offer on this home.  Keep in mind that we hadn’t even had the opportunity to put the home on the MLS yet and even produce any sort of marketing material yet before the home was sold! 

That’s how fast the market is moving folks!  We hope you are ready to make a move on this market.  If you read our newsletter this month you’ll see that home values are continuing upward.  Give us a call so we can be of service to you!

New 4 Year High's in Home Values

by Southern Californias Top Producing Mother & Son Te

So what’s going on with Real Estate in Downey and Surrounding areas you ask?  EVERYTHING!!!  Home values are shooting up.  Hopefully you want to take part in this uptrend…  The average sales price in April was $425,687 which completely obliterated March’s high of $399,778.  This is officially the first time we’ve seen average home values on the $400,000’s in over 4 years.  Values in one month alone jumped up approx. 6.5%.  Since the start of 2013, values have shot up about 14%.  So those who decided to buy a home at the beginning of the year already have gained about 14% equity on their homes.  It’s amazing!

This is all taking place while interest rates still remain extremely low and affordable.  Bankrate.com shows interest rates for California at an average of 3.69%.  Although all this is taking place in the market, we are still running into one problem…  INVENTORY!  Because of this we will most likely continue to see property values rise throughout the year.  Take a look at the red line across the graph.  That was the point of resistance that home values seemed to be unable to surpass for the last couple of years.  Now that this point of resistance has been broken, we’ve reached a new level in home values.  That resistance level that was broken typically now becomes the point at which values will bounce back up from.  All in all, we’re in a strong real estate market.  If you need to sell, now is the time!  Get top dollar for your home while buyers are still able to take advantage of these low interest rates!

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Photo of The Mother & Son Team - Maria Palacios & Chris Gon Real Estate
The Mother & Son Team - Maria Palacios & Chris Gon
Berkshire Hathaway HomeServices, California Properties
16911 Bellflower Blvd
Bellflower CA 90706
(877) 883-1003
Fax: 562-381-9113