For most of us — especially those nearing retirement age or are already there — our home is our most valuable asset, so it's impossible not to focus on the many factors that affect its worth. While prices tend to go up over time, it's short-term, as of late, that have caused some rather dramatic changes.

When the pandemic hit, the primary residence became a hot commodity. Why? Because people were spending 24/7 in their homes, working, and living in one space. In the Bay Area, that caused a roughly 20% appreciation in specific areas like Contra Costa and Alameda Counties. A stark contrast to the typical national average of 3.6% per year. Most recently, we've seen the Fed hike the interest rates, which caused another 20% increase.

With all that said, we can't help but wonder where things stand in the Bay Area housing market now and what we have to look forward to in the coming year. To get an insider's perspective, we're thrilled to welcome long-time Bay Area resident and RE/MAX real estate veteran Mark Shaw, a returning guest, to the show.

In this episode, we're going to discuss:

• Just how profoundly the real estate industry was affected when Covid first struck
• Several of the far-reaching effects that have resulted from the rise of the remote workforce
• The catalysts behind the Bay Area housing market's meteoric rise
• Why, despite some of the economic indicators we're now seeing, a repeat of the 2008 crash is very unlikely
• How financial and psychological factors have now combined to create an unusually tight home inventory

And more.

At Absolute Trust Counsel, we've seen the ever-changing market significantly affect our client's financial plans over the years. We hope you will join us as we discuss what the current market landscape means for first-time buyers and sellers, and what might be coming next.

Take the Next Step in Your Estate Planning Journey

If this episode resonated with you, we'd love to help you with your own estate planning needs in California. Schedule a complimentary discovery call with our team at Absolute Trust Counsel. During this no-obligation conversation, we'll:

1. Learn about your unique situation and goals
2. Answer questions about our services
3. Determine if we're the right fit to work together

Visit https://absolutetrustcounsel.com/scheduling/ or call 925-943-2740 to schedule your free discovery call today.

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