Don’t Forget! Property Taxes Are Due April 10th!
Springtime is here and so are the taxes. I hope you have had time to submit your state and federal tax returns. But don’t forget; just a few days before that the property taxes are due! April 10th is the deadline for your property tax bill – make sure to drop it off before the penalties start to accrue.
What’s happening in our spring market? You may recall, we reached the peak of prices in Silicon Valley in May of last year. Since then, the number of new listings started outpacing the sales and prices have been sliding down, a trend that that continued until January of this year. This equates to a seventeen and a half percent drop in median sale price. In February and March the prices started growing again reaching levels of the fall of 2017.
This rapid market adjustment made sellers very cautious. We see a lot of owners testing the waters by first offering their homes for sale off market. One home here was initially offered at $4M, before being listed publicly at $3.6M. This allows the sellers to try their dream price before going “on record”.
If you are thinking about buying a home this year, let’s have a conversation, let us share with you this hidden inventory.
Elena & Michael Talis