(Posted on Jun 22, 2022)

What is the growth situation of the home prices today? 

The prices are going up too fast! Is the market going to crash? 

Whether you're a buyer or a seller, get sound financial advice from Rama today: 

WHAT'S HAPPENING IN TODAY'S SAN RAMON MARKET? 

So I hope that my background calms you down in the crazy world that we’re in and uh, listening to a lot of noise about the stock market, about the housing market, and hopefully the waves and the palm tress calm will you down. Well guess what? Markets go up. Markets go down. It’s cyclical.

So don’t get scared.

And don’t get carried away and buy into the narrative that’s being fed to you.

All the people who are talking about the narrative,

“Oh my god! The market’s on fire! It’s never gonna go down. It’s always gonna be on the up and up.”

IS THERE A CHANGE IN THE SAN RAMON MARKET THIS 2022?

I had already started feeling the slow down Q4 2021. I had been talking about it. We were doing the best we can for our sellers and buyers. And the bottom line is here:

NEWS OF THE HOME SELLERS IN SAN RAMON

For the sellers, if you want to count paper money and paper appreciation as a loss in this market today, then that’s entirely your judgment call. I’m not an economist and I’m only gonna speak from experience.

In the marketplaces in the last 2 and a half years, we saw over 30% growth year-over-year. I’ve been in the business since 2004, and if we reach 7% appreciation in a year, that would be considered as phenomenal.

And from 2008 to 2012, I was a participant and a witness to the horrific recession and crash that happened in the housing market.

I can assure you I don’t see it happening. With the amount of equity people have in their homes. I don’t see people dumping their homes. And guess what? The rents are still gonna continue to rise.

NEWS OF THE HOME BUYERS IN SAN RAMON

So for the buyers, if you have been sitting on the sidelines thinking, “Oh my god. The market’s gonna crash.”

Please be aware that it may not crash the way you’re thinking it will.

And so greed on both sides needs to be curtailed and everybody makes a decision based on your personal financial situation.

HOW SHOULD YOU LOOK AT THE SAN RAMON REAL ESTATE MARKET?

So for the sellers, you know, calm down on your expectations. The market’s shifting. You can still walk away with a lot of equity and cash out with a lot of money. For buyers, please be aware that yes, there is room for negotiation on prices, and if the prices are reasonable you’re gonna get it at a good price.

But if you think that you’re going to write offers like we used to maybe 3-4 years ago, $50,000 lower, $100,000 lower, $150,000 lower, that’s still not gonna happen. We wrote an offer, one of my team members wrote an offer on a condo in Dublin last night, and although it was aggressively priced and our buyers could only come in at list price they got a counter offer this morning for $120,000 more because there were 3 other offers on the table that offered that much money.

So you’ve got to keep, everybody’s got to keep their balances in check, and please know that the sky is not falling for anybody. You’ve got to look at the positives. You’ve got to look at the opportunities. And like I said I am no economist or a forecaster of what’s the market gonna do.

I am very conservative in my approach and very stoic in my approach. But we’re here to guide our sellers and buyers in whatever decision-making process they wanna do.

So if you have any questions or or concerns, feel free to call me at 925-698-1815. Trust me. We will make it through.   

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