Costantini Team
No matter where we go lately, all anyone wants to hear about is the real estate market. We get it, we do, because until June the typical statement was “Boy, you must be making a killing the way things are going!” Well, as we all know this is no longer the case, and as of June 2022 our market changed dramatically while some sellers struggle to adjust the new real estate reality. Listing prices everywhere are being reduced, or they are being listed lower than they would have been in the time span between December 21 and April 2022. That is literally about how long the most recent spike in sale's price was. Where we are now is pretty close to where we were prior to that span of time. Which was honestly not a terrible place to be. You can can see this in my last 20 month graphs posted on social sites.
So, what are we up to now that the market seems to be cooling, besides chasing down the new and perfect listing price? Well, we are prepping 5 listings that will go onto the MLS after the holidays. These will be in the 2 to 4 million dollar range. We are getting inspections done far in advance so that we can address any glaring items that might turn away a potential buyer. Every single day we check to see what has closed, and how that might compare to our next listing. Modern and clean designed homes are still selling, just not with multiple offers far above asking.
ON THE BUYING FRONT, we are scouring the MLS daily looking for potential deals! There are finally listings that have been sitting on the market for more than a month ( or 2) that may be ready for our aggressive offer. In an effort to remedy the affect of rising interest rates we are calling our lenders and looking for craftier loan scenarios for our eager and bullish buyers. The market has not been this buyer friendly for quite a long time, yet there are many young buyers who have waited for the opportunities we are finally seeing now! With 7/1 ARMS interest only, 10/1 arms on a 40 year loan, seller credits and family gifts, we are creating financial snap shots that closely mimic what these buyers would be paying in rent, and getting them into this previously prohibitive market.
Just this week we have sold a downtown Redwood City condo for $595,000.00! The previous young owner had completely renovated the unit and lived in it while he built equity, then sold the condo to buy a single family home in Menlo Park. Our new buyer was thrilled to move right into an elevated space that is walking distance to the train and all downtown offers. We helped another young couple buy a fixer upper in a very nice neighborhood in the mid $1.3s. A purchase that low in that same neighborhood was unheard of over the last 3 years. We are also in contract for a 2,000 square foot home in the hills for only $1,800,000! It is move in ready, and would not have even been in the realm of possibility earlier in the year. And lastly, we are in contract for a young buyer to purchase a 2/1 duplex for under $1,300,000. Both units needs a full renovation, but hey, that is real estate. And that my friends is called building equity.
The good news about this market in a nutshell is that selling prices are still exceptional compared to the rest of the state and the country. We still have the privilage of living in one of the 5 most expensive area codes whether we like it or not. And lastly, there is once again a window of opportunity for new buyers to enter the market. For now…..
Victoria Costantini | CA DRE# 01498092
Enzo Costantini | CA DRE# 01998461
As current residents in Emerald Hills, CA we are fully aware of the current market trends and what it takes to get a great deal on a listing or get top dollar for your current home. When it comes to getting the job done right, you can count on us.
Stay up to date on the latest real estate trends.
Transform Your Home into a Modern Haven with These Must-Have Technologies.
Exploring the Heritage and Innovation of Redwood City.
Discover Redwood City's Unique Charm and Attractions.
A Culinary Journey Through Redwood City’s Finest Eateries.
Discover the Natural Gems of Redwood City.
Maximize Your Property Value with These Smart Upgrades.
Explore Vibrant Attractions in the Heart of Silicon Valley.
Creating a Healthier Living Space in Redwood City, CA.
A Comprehensive Guide for a Smooth Transition.
A Step-by-Step Guide to Acquiring Your Dream Property in One of California’s Most Exclusive Communities.
Protecting Your Investment in Woodside’s Prestigious Real Estate Market.
Essential Maintenance Tips to Protect and Enhance Your Home’s Value.
Exploring the Architectural Styles that Define Woodside’s Unique Charm.
Protect Your Investment and Avoid Unexpected Costs in Woodside’s Unique Real Estate Market.
Ensuring Safety Through Advanced Technology and Smart Features.
Understanding the Surroundings That Boost Property Appeal and Investment Potential.
Savvy pricing often kickstarts the most successful sales.
Defining the hallmark features and benefits of Modern Classic design.
Modern Upgrades for Classic Peninsula Living.
Top Spots for Outdoor Bites with Your Best Friend by Your Side.
Sell your home quicker and for more profit with this home renovation program.
Strategies for grabbing the attention of multiple buyers.
Historic beauty and outdoor adventure await you.
Navigating the sale of your home in Woodside with ease and success.
The Importance of Pre-Sale Home Inspection.
Ideas to help your Redwood City real estate feel welcoming and perfect for you!
A Step-by-Step Guide to Successfully Selling Your Home.
May be one of the biggest decisions you will ever make.
Follow these tips when preparing your home for sale.
Greater Silicon Valley enjoys access to a variety of equestrian clubs serving riders of all ages and skill levels.
Before making the move, make sure you know as much as possible about the area.
A guide to making the right choices for your home renovation.
Emerald Hills Real Estate 2024: Navigating Opportunities in a Dynamic Market with The Costantini Team.
Navigating the Financial Landscape of Moving to Redwood City with Confidence.
Navigating the Market for Horse Lovers.
A Comprehensive Guide to Success.
Your Comprehensive Step-by-Step Guide to Finding the Perfect Home.
Embracing the Heart of Silicon Valley.
travel
travel
Blue Grotto, Capri and the ENGAGEMENT!
travel
Walking the steps into Downtown
Our yearly travel bog
Chef-driven fare sets the tone for excellence at these five sublime eateries.
Find all your home decor and fashion needs.
Buying in the Current Market
Considered one of the best places to live in California, Woodside offers the perfect blend of rustic living and luxurious comfort.
From family gatherings to summertime barbecues, here are nine ways you can transform your home into the perfect party spot.
We are top Redwood City REALTORS® with decades of experience guiding our clients through the process of buying and selling homes in the Mid Peninsula. Let The Costantini Team at Compass help you achieve your real estate goals. Contact us or view current market information here on our website.