Happy New Year!
Each year KALEO agents reflect on the past year and set goals for the upcoming year. In real estate, things are always changing: new contracts, new laws, new ways to market properties, new technology, different market conditions, different neighborhoods becoming more popular, and more.
One of the core qualities of REALTORS is that they are resilient. Collectively, they are stretching, growing, ever-learning, and becoming stronger. Our brokerage, KALEO Real Estate Company, is celebrating 10 years in business and if you ask different agents in the office, each has seen different economies and real estate markets.
Each year KALEO agents reflect on the past year and set goals for the upcoming year. In real estate, things are always changing: new contracts, new laws, new ways to market properties, new technology, different market conditions, different neighborhoods becoming more popular, and more.
One of the core qualities of REALTORS is that they are resilient. Collectively, they are stretching, growing, ever-learning, and becoming stronger. Our brokerage, KALEO Real Estate Company, is celebrating 10 years in business and if you ask different agents in the office, each has seen different economies and real estate markets.
While KALEO agents have been holiday shopping and celebrating with friends and family, it seems like everyone is curious about the same things:
-What will 2024 be like for the housing market?
-Will 2024 be a good year to sell?
-Are buyers going to have opportunities in 2024?
-Are home prices going to go down?
-What is ahead in 2024?
2024 won’t look exactly like 2023 or really any year in the past. Each year is unique for real estate. The California Association of REALTORs (C.A.R.) expects that “California’s median home price is forecast to climb 6.2 percent to $860,300 in 2024” and that the total number of existing home sales are “forecast to total 327,100 units in 2024, an increase of 22.9 percent from 2023’s projected pace”*.
Short answer: home prices will go up and more homes will be sold.
But the nuances of “is it a good time to buy” or “is it a good time to sell” depend on your individual situation.
Are you old enough to take advantage of Prop 19 –– which would allow you to transfer your tax base with you to a new house after you sell — or do you need additional information? For Prop 19, you have to be 55 years or older.
Are you going to take advantage of unique loan programs that let you buy first (all cash) and then sell your home afterward?
Are you going to sell a property that you inherited or sell a rental property that has become a headache?
Whatever your real estate concerns, KALEO agents want to answer the questions in their area of expertise and then point you in the direction of other experts if you need to talk to an Accountant, Estate Planning Attorney, or another qualified professional.
Cheers to the year ahead; Another year of growth and opportunities disguised as challenges!
Source: https://www.car.org/en/aboutus/mediacenter/newsreleases/2023-News-Releases/2024housingforecast
But the nuances of “is it a good time to buy” or “is it a good time to sell” depend on your individual situation.
Are you old enough to take advantage of Prop 19 –– which would allow you to transfer your tax base with you to a new house after you sell — or do you need additional information? For Prop 19, you have to be 55 years or older.
Are you going to take advantage of unique loan programs that let you buy first (all cash) and then sell your home afterward?
Are you going to sell a property that you inherited or sell a rental property that has become a headache?
Whatever your real estate concerns, KALEO agents want to answer the questions in their area of expertise and then point you in the direction of other experts if you need to talk to an Accountant, Estate Planning Attorney, or another qualified professional.
Cheers to the year ahead; Another year of growth and opportunities disguised as challenges!
Source: https://www.car.org/en/aboutus/mediacenter/newsreleases/2023-News-Releases/2024housingforecast
