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Nick Pham, Broker

Nick Pham, Broker

Top San Jose Realtor

2021 Real Estate - 2nd half Outlook

If you have been following my blog, you know that I have been tracking market trend for as long as I have been a realtor/mortgage broker. Over the past 18 months, most of us wonder why the market has gone up so so much. A properties in the Bay Area were seeing offers as much as 2 times the listing price. and the normal has been anyway from 10-30% over asking prices offers.

I think most of you already know where all the CASH offers are coming from. How about the rest of the buyers? Especially, when most were working from and still working from home due to the COVID-19 pandemic. Perhaps the “working from home” order has fueled the need for space for in the household to accomodate the work from home, study from home, the Stay-in-Place (SiP) order.

One thing for certain, the low housing inventories even from before the pandemic, and the extremely low interest rates has helped many buyers purchased their homes, where they couldn’t qualified previously.

So what’s my prediction for the remaining 2021 real estate market? as long the Interest Rates remains low, (NO SPIKES), I predict we will continues to see the multiple offers, and homes selling more than the asking price… providing that the sellers understand the market trend, prepare and price their homes accordingly! I had shared an infograph to help buyer understand their “Buying Power”. Let me know if you missed it, I will be happy to share again.

Whether selling, buying or investing, I can help you prepare to be in the best position!

Nick Pham | Voted Top San Jose Realtor, by hoodline.com

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