In Silicon Valley it has been an amazing year in real estate. Homes & mult-iunit properties have been in demand all year long. For sellers it has been the best time to sell in 5-6 years. Multiple offers has been the norm with many properties selling over asking price. Is it still time to sell? Well, if you have been sitting on the fence on if to sell or not it may be an excellent time. Once you speak with a Realtor to see what you can get for your property and talk to your tax accountant to see the tax consequences and what road you should take then make that all important decision. Be read with your list of questions and concerns when meeting with your team of professionals and ask them what concerns you should have.
As for buying, it is still a great time as interest rates w are still hovering around 4% which helps keep those mortgage payments low and with increasing rental rates, see http://usgovinfo.about.com/cs/consumer/a/aausrents.htm for recent article of where Silicon Valley stands in California and the Nation, now may be the time to make the move. For many first time buyers there are still many programs that can help them get into home-ownership with low down payments and fixed rate loans. Also, many empty nesters, those whose children are off to college or to start their own families, move down opportunities are there. With new equity in their homes and low interest rates this too is an excellent time to make a move to a more manageable property.
Regardless, it is an excellent time for both selling and buying so don’t be shy and make that move you have been contemplating to start to enjoy the next chapter this wonderful life has to offer.