The nattering nabobs of negativism are at it again.
If the December market is a preview of what Valley real estate will do the following spring–and it typically is–we’re in for a scorchin’ spring 2018.
Breaking news! We’re in for another year of “accelerating home prices, expanding income and jobs, [and] new residents”.
The National Association of REALTORS chief economist, Lawrence Yun, predicts that new tax laws limiting deductions will cause home values in high-tax states such as California to drop, “potentially by up to 5 percent” according to CNBC.
Overheard at a packed open house: “I want to make an offer on a home that isn’t on the market. That way I can judge the value of the home for myself.” In other words: “I want the seller all to myself, so I have the leverage.”
The sprawling Bay Area mega-region took the top five spots nationally in real estate hotness in 2017, according to the National Association of REALTORS. It also nailed the 12th and 16th spots, for those of you keeping score at home.
Looks like pretty soon we’ll have to add Sacramento to the Bay Area housing market. Maybe we should now.