I have been fielding many phone calls from clients concerned about the potential impact of this week’s stock market correction on their real estate goals.

My basic message? Don’t panic.

Real estate is a long-term investment and our hyper local Lafayette, Moraga and Orinda residential real estate markets have always been – and will always be – mostly about lot, location and condition. The Lamorinda housing market does not always trend with the Bay Area housing market as a whole or even the Contra Costa housing market.

That having been said, it is too soon to know exactly how this stock market correction may impact our local housing market. Early action, though, may help mitigate any potential near term impact for individual Lamorinda home sellers and homebuyers. Specifically:

— Lamorinda home sellers: If we are to see a housing market correction, it’s a good idea to stay ahead of it. If selling your home in the near future is already on your to-do list, jump in. Now is a great time to sell before we level a little.

— Lamorinda home buyers: A rise in interest rates is inevitable. Lock in your 30-year loan now at current favorable rates we will likely look back at longingly for many years to come.

If you would like to discuss your specific situation, please do not hesitate to contact me at Dana@DanaGreenTeam.com. My team and I will always be honest and will do our best to share our real time local real estate market knowledge so you can make informed decisions.