Is It Time To Sell My Central Valley Home?
I often receive phone calls from friends, family and clients asking if 2015 is it a good time to sell. While there is not a perfect one size fits all answer to this question, there are some definite facts available for those considering selling their Fresno or Clovis home. Since 2001 interest rates have been kept in check by the Federal Reserve in order to keep the cost of money low so that home buyer could afford to buy homes, and in turn stimulate growth in the economy. With interest rates low and the implementation of Federal Reserves fiscal policy of "Quantitative Easing" (in effect the Federal Reserve printing money and buying mortgages from Fannie Mae and Freddie Mac) in 2009 and 2010, buying power has been super charged for the past 5 years. Home equity has been robust for the past three years in the Central Valley, with almost all owner seeing double digit gains. Demand for single family homes in the first quarter of 2015 has remained healthy with the number of sold single family homes in the Fresno/Clovis area increasing month over month. At the end of 2014 the Federal Reserve quietly announced the end of Quantitative Easing (in order to keep inflation in check) and many in the financial industries say that it is impossible for interest rates to remain at today's low levels.
You are probably asking what does all of this mean to me? In my opinion we have seen the biggest portion of the housing rebound in the Central Valley. I believe we will continue to see modest equity gains in the next five years but if you are waiting to sell until we get back to the 2004-2005 prices, settle in; that may take a while. If you are looking to move up, down size or you just need a change of scenery now may be one of the best times to sell your home. Everyone has different reasons for selling, and as I said in the beginning there is no one size fits all answer to the question "should I sell my home now"? We are more than willing to share what we know about the Fresno Real Estate market and help you come up with your own answer to the question. You can instantly find what homes in your neighborhood are selling for with our home valuation tool.