Here are this week's sales numbers and statistics for a snapshot of today's market. The market remains strong and with more listings coming on the MLS, it seems we're nearing the end of the transition back from strong to slow to strong again. Of all sales, company-wide: 26% of properties sold with multiple offers 39% of properties sold for more than the asking price 13% of properties sold for less than the asking price 21% of properties sold for the asking price. … [Read more...]
March 26, 2007 by Leave a Comment
What Will the Fed Do on Wednesday? And How This Affects San Francisco Real Estate
Today's New York Times has an interesting (and easy to read) article, entitled "Will the Fed Take Away the Chill?" on the current economy, affects of the subprime mortgage "situation" and possible reactions by the Federal Reserve on Wednesday. "SHARES of some subprime mortgage lenders have plummeted, while interest rates on low-quality debt have headed the opposite way. That suggests that investors are worried about economic conditions, and Federal Reserve policy makers may use their meeting … [Read more...]
March 23, 2007 by Leave a Comment
Do You Believe The Newspaper?
Fact or Fiction: The owner of a local real estate company gets an interview with the local paper's real estate reporter to address the current reporting of market conditions. "Over 2/3 of all our sales since mid-February are receiving multiple offers and selling for over the asking price," the owner tells the reporter. "You are lying. We don't believe you. Property values are flattening out, if not dropping. The market has changed. It's a buyer's market," says the reporter. Did this happen or … [Read more...]
March 21, 2007 by Leave a Comment
San Francisco Real Estate Trends Report
There is some interesting data in this monthly report. I'm going to begin keeping a roll on this BLOG. Please let me know if it's helpful! All Zephyr clients have access to Clean Offer MLS Direct's great online search engine. It's much more accurate and timely than the public view of the MLS. For the latest San Francisco real estate trends report, visit here. … [Read more...]
March 9, 2007 by Leave a Comment
Single Women Homebuyers, Your Time Has Come
This Sunday, the Chronicle ran a Sacramento Bee article from February that the NYTimes ran before them (get my point??) about how women home buyers are among the largest growing market of home buyers around the United States. For those of us in the real estate world as a two time single woman purchaser, myself, this comes as no surprise. Some see the trend as a "Women like to nest more than men thing..." Well, maybe some do but I'm sure not all! Some see it as a "Folks are marrying later..." … [Read more...]
March 6, 2007 by Leave a Comment
What is Market Value, Or Who Determines The Sale Price of a Home?
Pricing, Pricing, Pricing.... It's a mad, mad world, isn't it? No matter how many times we Realtors explain that pricing for real estate is just as it is for anything else, i.e. supply v. demand, buyers and sellers seem to have their own ideas! Ultimate Rule Numero Uno: 1. The buyer sets the price. What this means and what it does NOT mean: It means... This rule means that no matter what the seller wants or what the comparable sales say, ultimately, the buyer who is willing to purchase the … [Read more...]
March 6, 2007 by Leave a Comment
When Enough is Enough. Rent, That Is.
Here's another interesting rent v. own article from the New York Times. Just where is the Chronicle with anything other than gloom and doom? Send me an article, people, please! Read on for: When Renters Reach the Breaking Point! "WHETHER they preferred apartments uptown or downtown, walk-up or doorman buildings, and old or new construction, many New Yorkers agreed on one thing about the Manhattan real estate market in the last year: it was safer to rent than to buy. Some feared that if … [Read more...]
March 6, 2007 by Leave a Comment
Prices Falling in Some Parts of the Country, Not in NYC
The New York Times wrote of the reviving real estate market in Manhattan and Brooklyn. It's an interesting article because it points out how prices are falling in some parts of the country but not in NYC. In fact, multiple bids are back. San Francisco has a lot in common with New York when it comes to real estate. There's limited supply and almost always, greater demand. Read an excerpt of the February 19th article here: "According to a report released last week by the National Association of … [Read more...]
March 5, 2007 by Leave a Comment
Zephyr Sales Report
This week's real estate sales in San Francisco showed the same overall pattern: Of all properties sold this week: 68% of property sold with multiple offers 23% of property sold for under the asking price 42% of property sold for over the asking price 35% of property sold for the asking price … [Read more...]
