San Carlos Blog Entering Its 8th Year
Ahead of getting to the 2014 San Carlos Real Estate Preview & The 2013 Year In Review, I want to thank all of you for your loyalty to the San Carlos Blog. The first of its kind to hit San Carlos in 2007, the San Carlos Blog was developed around a unique premise that makes it different than other real estate blogs. The goal was and remains to give our readers that hard-to-get information that goes well beyond the numbers. You can view numbers on hundreds of different sites. While numbers are obviously important when looking at real estate markets, many times it is the critical information that cannot be quantified that makes the difference in gaining an edge in more sought after real estate markets such as the one we have in San Carlos. In 2013, I was fortunate enough to handle a combined 40 San Carlos specific transactions for San Carlos buyers and sellers, which I expect will place me at the first or second spot for San Carlos production for 2013. I say this not to blow my own horn, but rather to illustrate the point that the insight given on this site comes straight from the frontlines of San Carlos real estate and is intended to give our readers an insider’s edge in this challenging, yet vibrant San Carlos real estate market.
2014 San Carlos Real Estate Preview
On the heels of one of the most incredible years in the history of San Carlos real estate, The City of Good Living is getting ready to give it another go in 2014. Here is what to expect:
(1) Early and Often. Expect San Carlos listings to come out early and more often than they would normally come out in January and February. Many sellers will try and capitalize on the momentum that went straight through the holidays in 2013.
(2) Strong Buyer Demand. The market will escape parity once again as the number of motivated buyers will greatly outnumber the amount of available listings. Quite simply, there are too many first time buyers, move-up buyers, and relocating buyers who have placed a personalized bullseye on San Carlos for 2014. We simply do not have the inventory to support it. I suspect that our inventory will be greater than it was in 2013, but it will not be enough to completely satisfy the demand.
(3) Keep An Eye on Interest Rates. Predicting whether interest rates will continue to rise, or not, is beyond my pay grade. However, should they continue to steadily rise, expect the market to conversely slow at that same pace.
(4) Buyers Who Are Successful In 2014 Will Have A Plan. If I had to pick the single biggest mistake buyers make in San Carlos, it would be going too long without a structured plan of attack. Some of the buyers that come to us, come after many months of a frustrating search by themselves, with an out of area or ineffective agent. In a market where all of the odds are stacked against buyers, they need every conceivable advantage. Their search, financing, creative multiple offer strategies…..they all play a part. If you don’t have a plan, understand that there are others who will. I realize this may seem a bit direct, but it is the reality of what is happening.
(5) Foreign Money. Foreign money is not necessarily being invested in San Carlos, but it is indirectly playing a part in our market. Locally, the vast majority of foreign money is being invested in places like Hillsborough, Palo Alto and Los Altos Hills. The effect of this is more upward pressure on those particular markets forcing some buyers to look for towns with the lower barriers to entry. Eventually, it trickles down to San Carlos. There is a reason so many of our homes in San Carlos this year were bought by buyers using agents from Palo Alto, Menlo Park, Burlingame and Los Altos.
2013 Year In Review
To fully understand just where the San Carlos market currently sits, please download the 2013 Complete San Carlos Trend Report. This custom trend report will give you all relevant information on San Carlos and its six different neighborhoods. Download the entire report by clicking here.