Around this time last year I was fortunate enough to listen to Carole Rodoni’s predictions for the 2015 real estate market in the Bay Area. Lucky for you, she came to speak at my office meeting again this year to talk about her 2016 real estate predictions.
Carole predicts a choppy up and down market throughout 2016 with 300-400 point variations daily. Technology has moved the economic scale. She called 2016 the “Disruptive Phase” which will in turn build the most wealth but it will be choppy along the way. By a “disruptive phase” she means industries are being disrupted like UBER for example is disrupting the Cab industry as well as many more companies are doing this with other industries.
By end of year 2016, Carole believes we will be flat or slightly negative in the stock market.
“It’s all about perception in the Bay Area.” –Carole Rodoni
San Francisco is an international city that is known around the world. Geographically we are in “God’s Land”. The Bay Area is trending- people are making a good living and thats why we have traffic. The real estate market is going to be rebalancing. This does not mean we are not going to be in a recession here, she says something else is going on. Inventory is growing, pricing will start declining, homes will be staying on the market longer. High-end is going to go down and low-end is going to get hot. Millennials are wanting to buy and are looking for newer homes and they want it all. Carole says the homes that need lots of work will be sitting on the market and will require negotiating to get them sold.
Looking to buy or sell real estate in the Bay Area? Please feel free to call me at 650.947.4793 for all your real estate needs!