MARKET UPDATE 2020 March
WHERE ARE REAL ESTATE PRICES GOING? SHOULD I SELL? SHOULD I BUY?
Sellers are sitting on the fence waiting to see what happens with everything that is going on.
Investors are waiting with cash for the market to crash.
There are so many events going on right now I will just mention them. If you have any QUESTIONS comments, expertise to share, or want to shoot your own video interview, let me know by phone, text, or email below.
WHATEVER YOU DO — DO IT WITH A PLAN and PAY ATTENTION TO MARKET and influences.
We had a good run in real estate appreciation since 2010.
INVENTORY still low but growing with several “coming soon.” prices are remaining strong. We are selling but with videos and photos and appointment only.
INTEREST RATES are very low, buyers are scrambling to get in while this lasts. Typically, Feds lower interest rates 2-3% to stimulate the economy. Feds have no more room to lower interest rates.
Trillions of $$ from investors flowing into Silicon Valley bringing in many more high-paid workers and home buyers.
FIRE STORMS have hit N Cal last 3 years.
Fingers point at PGE. PGE’s solution is to have power shutdowns during hi-risk times, must influence people from wanting to move to California.
VIRUS – causing all sorts of problems.
STOCK MARKET reacted down 20-30%
OIL PRICES DOWN – isn’t that a good thing?? Stock market reps say oil being down affects the Dow Jones – Oil companies are over-leveraged. Saudis lowering price of oil. US oil companies profits are way down and negative.
UNEMPLOYMENT – expected to hit 20-30% — that means there will still be 70 -80% still able to buy.
10 million unemployment applications filed. Small companies are losing jobs. Companies over 500 have gained jobs.
Imports have stopped creating shortages.
FED FUNDING $2 TRILLION. Most will go to big companies. Cruise lines are all foreign-owned – why bail them out? It looks like 2007 when Bush bailed out banks. No account of where the money went.
BIG ELECTION in November. 4 years ago, the real estate market went from bullish to frozen a month before and 3 months after trying to figure out what to do.
Politics seems more about bashing opponents and insider trading than running the country. Nothing really new – just a lot more media coverage which I hope will make us better voters at the polls this year.
5G is 10 times more power than 4 G. Some countries are already outlawing it. Mill Valley is banning 5G towers.
With all this going on, our outcome will still depend on our decisions.
With real estate, whether buying, selling, or investing, the best time to start planning your future and to take advantage of turns in the market is right now.