California Home Values

By: Cyndi Gerken

Home values in almost any state have proven to be a bit more flexibile than many home opwners thought. With the slow down in the market many owners who thought that their home value were set in stone save for appreciation were quite surprised by the fact that their home was not worth as much as they had thought. Why is this? Well, for the last number of years home values had been inflating at almost an unrealistic rate. In some areas of the country appreciation was being calculated monthly as opposed to yearly. Owners were seeing amazing raises in their home values and this was due to the incredible demand for housing. When the market began to slow down these owners assumed that their homes would retain that inflated value but that is not the case.



What we are seeing now are homes returning to a more reasonable and expected value. While this may not be popular with owners it is the truth. However in places like California owners can expect their homes to still be at the top of the value scale for the country. California homes just seem to hold their value well as this is still a highly desirable place to live no matter what real estate values and trends are. This is part of the mysterious allure that California has in the real estate market. This is even more so when referring to homes with additional assets, like say; a golf course?

These days home value is becoming more and more about what the home offers in terms of additional value as opposed to simply the fact that the home is there. We must come to terms with the fact that the real estate market is not what it once was and now we have to be more mindful of the product that we are offering to buyers. No longer can you simply throw a home on the market and have it sell within a week. This still does happen, but not for the same reasons. Buyers now act quickly to get those homes that have a lot to offer and are competitively priced. Buyer incentives are also becoming a big part of sales and buyers are looking for more than a few reasons to purchase a given home. If you can supply them with these reasons then the sale should go quite quickly.

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