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Weekly Roundup – September 3

September 7, 2020

2 MINUTE READ

Hey, CA!

And suddenly, it’s September! Schools are opening (ish) and we’re about to enter a heatwave in some parts of California (yay?), so let’s try to remember what it’s like to take one last vacation before the summer officially ends. Here’s the latest news on the real estate front:

Home Prices See Biggest Gains in 2 Years 💰

What’s this all about?

Wear gloves while handling this market: like the proverbial hot cake, the demand for CA homes is sizzling 🌶. Nationally, home prices in July were 5.5% higher than in 2019. Why? Home inventory is down a third from where we were last year.

What it means

Around the country, everyone recognizes California for its beauty, friendliness, and love of discussing highways and driving routes. And while we’re not expecting another great migration, for current homeowners on the fence about selling, there’s a real pretty penny out there to tempt them.

Just make sure you’ve got a plan–organizing a list of reasons to stay or go and knowing your budget are two simple steps that can help bring you clarity.

Is the Second-Home Market Entering a Boom? 🏠 🏡

What’s this all about? 

With the increased flexibility and connectivity technology has brought in the wake of Covid, families nationwide are turning to the secondary home market. “They desire a getaway to ‘invest in family,’ as well as a place of refuge for the future,” John Burns Real Estate Consulting notes. And why not? The office is as mobile as one’s laptop these days, and even after this pesky pandemic passes, how does one justify returning to the old way, with all its residual costs?

What it means 
Fluidity is the name of the game right now, and for the foreseeable future. Whether applied to work, family, or where we call home, technology’s response/solution to Covid-19 has everyone reimagining not only how to get work accomplished, but what work means to them, and how and where it is performed.

For many, a 2nd home has become more realistic, and a wide range of homes, practical to the uber-luxe, are out there, ripe for the picking (we can help with that).

Don’t skip this…