Analysts, Economists, and Industry Commentators have much, and sometimes divergent, opinions about the present and future of real estate in Sonoma County. They all agree, however, that sales data in the coming months should provide more concrete indicators of the market condition.
The experts have commented that when hot markets shift to cooler, the effects are typically reflected in reductions in multiple offers, overbidding, and the number of homes going into escrow. All these realities result in less appreciation, but historically, over the longer term, real estate remains an excellent and robust investment.
The monthly median home price, 6-month rolling average proves the point:
The combination of quickly rising prices and the fastest mortgage rate increase in over forty years is going to affect purchase demand. As this phenomenon occurs, the private mortgage business picks up steam. Using this avenue of financing allows otherwise ineligible Buyers to get into the real estate market and profit from the appreciation which continues to rise.
Sun Pacific Mortgage, a family-owned and operated business located in Sonoma County, serving all of California, has been in the Private Money Mortgage business for over 34 years with impressive results and loyal, appreciative clients and investors. With our year of experience, we can close escrows in as little as a week. Give us a call at 707-523-2099 or visit our website at www.sunpacificmortgage.com to investigate the loan programs we have available in funding purchases and refinances or how we can help you start increasing your wealth. We look forward to your call.