Dean Rizzi

A Look at the Past and a Look at the Future
December 30, 2009 · · 1 Comment

This time last year we predicted that 2009 would end a lot better than it began. We were right, though it wasn’t a great accomplishment to be right considering how low the housing market, stock market, and overall economy had sunk during the latter half of 2008. As we’ve stated repeatedly over the past year, a low base and a dour outlook provide an excellent buying opportunity, so we weren’t surprised when buyers stepped forward to exploit the opportunities.

Looking ahead to 2010, we see continued improvement in home sales and home prices. In fact, we wouldn’t be surprised if the market turns to a sellers’ market from a buyers’ market by year’s end. We are almost certain that will be the case if we see a two to three percentage point drop in the unemployment rate. Low mortgage rates and income tax credits are contributing factors in stabilizing the market, to be sure, but no factor is more important than employment in not only maintaining stability but stimulating activity.     Read more

Dean Rizzi

January home sales in the west are WAY up!
February 25, 2009 · · 1 Comment

I just caught this article off of Google AP.  I’m passing it along because it gives more detailed picture of the January sales report.  NAR reports existing home sales where down to their lowest levels in six years.  However, if you look at the western region, they are up 32.1 percent from a year ago.  Although prices are down, sales jumped 57% in the bay area!!  Buyers are clearly taking advantage of the high inventory.  What a great time for young families to get into that first home!

http://www.google.com/hostednews/ap/article/ALeqM5h78GtI74ZouhZ1bCfF7cOWPQWKzwD96IS94O1

Nicole Machado

Open House drawing Black Friday Crowds…
January 12, 2009 · · 8 Comments

With the Holidays behind us, buyers are back on the Real Estate scene scoping out the latest inventory. This weekend I held a home in SSF open. I had over 65 groups come through and even ran out of fliers & ended up staying well after 4pm as buyers kept showing up. I can’t remember the last time I ran out of fliers or had to stay longer then the open house was scheduled. I felt like I was at a department store on Black Friday and everything was 50% off!
The home was a single family fixer, in a desirable neighborhood. I figured there was an abundance of buyers because it was the first weekend of scheduled open houses, come to find out it wasn’t just my open house that faired well to the buyer’s scene, it was everyone’s.
Every Monday morning my office has its sales meetings. In the meetings we take count of how many people came through our open houses. Today the count was 400. Those are huge numbers which gives us all something to ponder… Buyers are out in droves, prices have come down and interest rates are historically at all time lows, has the market hit its threshold? What are your thoughts? All I can say is when it’s your time to buy or sell, it doesn’t really matter what else is going on around you. That’s the beauty of Real Estate.

David Wang

Are Home Auctions a Good Deal for Buyers.
December 19, 2008 · · 3 Comments

                

Any type of real estate investment can be profitable.  Like the stock market real estate is about timing.  Auctions have become more prevalent in recent months and many buyers have asked if auctions are better deals than properties listed on MLS.

This very excellent question simplifies three bigger topics.  First are you interested in just the purchase price, without concern of repair or remodeling costs? Next, have you done all the research you need to do with regards to the property, traditional sales have a contingency removal period.  Finally will you be satisfied in focusing on the least desirable properties on the market.       Read more