Roadmap with Irina - January 2024

Hi << Test First Name >>, 

Analyzing December statistics from the past three years reveals an interesting trend in Santa Clara County's real estate market. The median sale prices for single-family homes have rebounded, reaching the levels observed in December 2021. However, the number of homes sold has seen a 40% decline as a result of the impact of high-interest rates. Additionally, the median sale price for condos and townhouses remains below the December 2021 level, with a notable 48% decrease in sold condos.

Since the recent cut in interest rates and the start of the new year, it looks like the market may have turned the tide and could be headed in a new direction. There is greater confidence in the economy: inflation is down, mortgage rates are at their lowest levels since April 2023, and the Fed may cut interest rates more than once this year. These factors may unlock inventory, which is needed to get the market back on track. This shift may already be underway; as of today, in Santa Clara County, there are 884 homes available for sale, and 283 of them are not on the open market yet.

Consistent with the latter half of 2023, buyers should expect elevated levels of competition, particularly among the properties that are move-in ready, priced well, and in an attractive location. Sellers may find that improvements to the market vary from week to week, neighborhood to neighborhood, so they should be prepared to make their listing as attractive as possible.

If you are thinking about buying or selling, let’s connect, talk about your options, run some numbers, and see if this is the right time for you. Call me, I am always here for you.

All my real estate life I’ve had coaches who helped me to become better at my craft. I learned how to manage my time, create better plans, set goals, talk to people, handle transactions, etc. And the last 2 months were soaked in coaching and learning! I’ve had coaching calls every day, a few important classes, and I took a deep dive into a 4 full days program with another 109 agents in my company. It was very intense and full of good staff. I hope that my excitement and enthusiasm will last for more than a few months with the right mindset.

At some point, I found out that there is science and art in any profession. While I've focused on the science—laying down foundational skills, organizing systems, and sharpening negotiation techniques—I felt like something was missing. Recently I read a book that led to a new coaching program, and I soon realized that this is the missing piece, the art, that I have always been looking for. It was a real-estate-related book, but it was more about communication skills, empathy, and active listening to people.

My friend told me once that I was not listening when I was talking to her and doing something else. I thought that I was a master of multitasking, but it turned out that I was listening but not hearing her, and she wanted my full attention. I found that listening cannot be rushed, but spending a bit more time on listening at the beginning of any process can help to create better relationships, and get to the final goal faster and with better results. So, I started to learn how to listen to people and hear their feelings and concerns. Interesting, that I used some tactics on my family, and it looks like it is becoming easier to communicate with my kids and husband and better understand each other (hopefully, they didn’t notice that I use them as my guinea pigs).

I truly believe that real estate helped me to become a better person. It is not about making more money or closing more deals, it is always about helping people. I am still in the very beginning of the art of listening, and I am making mistakes every day, but it is a never-ending road to improving myself and hopefully, you will witness a better version of me soon.

Always yours, 
Irina