At current market trends, over the next month:*– 1400 active house & condo listings will be joined by 600 new listings.– 1 in 7 or 8 of those listings will accept an offer to purchase.– 1 in 8 will expire or be withdrawn from the market (didn’t sell).– 1 in 4 will reduce its asking price.– 75 active bank-owned (REO) homes will be joined by 45 new REO listings:– 1 in 3 will accept offers. Of the listings that do …
Month: March 2009
Property Owners in District 5 are encouraged to attend a community outreach meeting on Tuesday March 31st at 7pm at Park Branch Library, 1833 Page to help weigh-in on San Francisco’s housing element of the general plan which, updated every five years, guides overall San Francisco policy regarding housing. The City is embarking upon a Citywide outreach campaign for the 2009 Housing Element update. The Planning Department and the Mayor’s Office of Housing have been working closely with a Community …
A small bank in the Pacific Northwest is hoping to boost sales for builders who owe the bank millions by offering mortgages to new homebuyers at less than 4 percent interest. Banner Bank began offering the low rates through a subsidiary on March 7 in Portland, Ore., and surrounding markets, and plans to expand the program next month to Seattle and Spokane, Wash., and Boise, Idaho. In announcing the “Great Northwest Home Rush” program, Banner subsidiary Community Financial Corp. said …
In getting ready to head out for my work day, holding an open house is in the mix, I find myself still amused by this list one of my friends in the business compiled regarding what NOT to do when selling your home. I have to admit to having more than a few ‘stranger than fiction’ moments over the years myself. Showing up to do a pre-arranged photo shoot in a very high-end condo only to be left with the …
“There are three kinds of lies: lies, damned lies and statistics.” One hears California home prices have dropped 40% or reads that SF “Metro Area” prices have declined 30%. One recent article insisted some SF districts had experienced double-digit appreciation in 2008. (Sorry, no.) The media loves dramatic (i.e. usually bad) news; some agents deliver only the rosiest view. These analyses might quote median or average prices, dollars per square foot, or values based upon secret algorithms — each of …
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