Follow the instructions below to adapt this letter for your neighborhood!
Home prices are rising! In San Bernardino County, the median home price of homes sold increased by 28% between May 2012 and May 2013.
Employment is feeding today’s hot market. There were 1,164,000 individuals employed in San Bernardino County in May 2013. That’s 11,700 more jobs than one year earlier!
What does this mean for you? Now’s a very good time to sell! This market is flying high, but the current bounce in prices won’t last forever. The law of gravity applies to real estate pricing as much as it does to anything else: what goes up (beyond the rate of inflation) must come down.
Today, California’s home prices are way above their historical mean level, but they always pull back down. Other market indicators, like sales volume, point to an approaching drop in prices. Sales volume in San Bernardino County dropped almost 2% in May 2013 from its level one year earlier.
If you’re thinking about selling, don’t ignore this pricing pattern—instead, use it to time the market to your advantage.
If you want to make the most of today’s sellers’ market, call me for a free consultation!
FARM letter instructions
The employment and home pricing data in this FARM letter are extremely time-sensitive.
To update this letter with the latest employment data, click here to view this information for your region of California. This source provides:
- the total number of people employed in various California counties;
- the percentage change in the number of people employed during the past month; and
- the percentage change in the number of people employed during the past year.
To update the home pricing data included in this letter, visit dqnews.com. Under the “News” menu, click “Southern CA” or “Bay Area” for statistics specific to your region. At the end of the news release is a data table which provides the following information for each county:
- home sales volume for last month;
- home sales volume for one year ago;
- percentage change in home sales volume during the past 12 months;
- the median home price for last month;
- the median home price for one year ago; and
- the percentage change in the median price during the past 12 months.
Simply update your FARM letter with the latest information, and you’re ready to go!