Stock options have enabled buyers to purchase million-dollar starter homes. Qualified real estate agents advise their listing clients to set a realistic asking price based on competitive properties, location and value, market economics, and the current environment. On the other side of the equation, buyers are advised to make a realistic offer they can live with and support. The pricing strategy set by the seller is now driven by how much someone in the mix is willing to pay. It s a game that no rules have been set for yet.
Most forecasts point to the market growing for some time to come.
Until supply eclipses demand there will continue to be a shortage of available properties. This low inventory and increase in Silicon Valley dollars is causing real heartburn for the average homebuyer and for many Realtors whose primary objective is to try and find affordable housing for their clients.