Have We Hit the Bottom
I was reading the January/February 2009 edition of the California Association of Realtors Magazine and came across this article I thought I would share. The article has good facts with a positive economic forecast for 2009 and the graph is a great visual representation of the history of the market.
To read the full article click on the thumbnail image of the article below, then click once more on the article to make the content larger.
SSF Real Estate… things are looking up
As 2008 wraps up and we all grasp onto our crystal balls to determine the fate of 2009… I wanted to end the year on a positive note with some statistics from the San Mateo County Multiple Listing Service that may help to give us all a positive outlook on the Real Estate market for 2009. South San Francisco was one of the Peninsula’s hardest hit cities with short sales and foreclosures, but by the looks of it, SSF seems to be bouncing back just fine. Read more
Do you feel like you are in a media induced recession?
If it were not for all of the news I watch on TV or the newspapers and internet news, I wouldn’t think I was in a recession! I don’t live in a bubble, in fact, I live in the Bay Are and I am a Realtor. My phone rings everday with people who want to buy real estate at the new opportune prices and I receive emails each day as well. The malls, Serramonte and The Shops at Tanforan, where we have our real estate kiosks see 1,000s of holiday shoppers all day long and meet PLENTY of people interested in buying buying buying and gas prices have gone down to boot!
I am only one person making my own observation. I have had some hardships as well and DO realize that the economy has slipped but my point is, if we did not have the media would we be so overwhelmed with a recession? My husband is a stay at home dad and our family and friends in San Bruno and the Bay Area are doing ok and I AM GRATEFUL FOR THAT! I just wonder how other people in the Bay Area are doing? Please comment!
What is Staging?
Staging is when a home is furnished and decorated before it is put on the market for sale. A staged home that is well done will highlight each room, but not crowd it. The following are several questions that I will attempt to address, like: How much does it cost? How long will it be furnished for? Who pays for it? Will it yield the seller more money at the end of the sale?
Staging a home can cost any where from several hundred dollars to thousands depending on size of home, services provided and the specifics of each contract. The details of the services you expect from your stager must be outlined in the contract before you sign the dotted line. Staging companies will normally have a minimum time period (days/weeks) that a potential client should fully understand. The cost really depends on exactly how many rooms they (stager) are furnishing and for how long. The contract should stipulate several important items like exactly what time and date the furniture will be installed and removed, what would it cost if you wanted to extend or adjust the time period of your contract?, and who is responsible for the furniture while it sits in your home? It is also important to ask, when does the staging company expect to get paid? Read more
Mixing Business with Pleasure… does it actually mix?
Have you ever felt obligated to use a family member when it came to a business deal? While most of us have, has it ever left you wondering if that was the best decision? In some cases, it is an ideal circumstance. While in others it may be an uncomfortable situation that you were strong armed into. Read more
Is it a good time to Move Up?
Everyone’s question these days seems to be “Is now the right time to buy”? I have come up with a chart that helps you make the decision if now is the right time to buy!
Current Home New Home
|
Sell |
Spread (What it would cost you to move) |
Buy |
|
$100K |
$100K |
$200K |
|
(Value appreciates 10%) $110K |
$110K |
$220K |
|
(Value depreciates 10%) $ 90K |
$ 90K |
$180K |
The above chart is an example of a “move-up” buyer determining whether it is a good time to purchase an upgrade property.
Now ask yourself this question… “When does it make more sense to move up- when prices have gone up less or when they’ve gone down more?”
If you have answered when prices go down, you are the lucky winner!!!! You profit the most when the spread is less. So whether you are discouraged that you don’t have enough equity or down payment in order to move, ask yourself this question….
“If you don’t feel you can move up comfortably now, how will you be able to do so when prices go up further?”
***One last thing to ponder… When interest rates go from 6% to 7.5% the prices of homes would have to go down 14.7% in order to keep the same monthly payment.
Appraisers… what’s their real job description?
Since when did appraisers become home inspectors? Just curious as I encountered a never before sitaution today… As my property inspector was packing up from a routine property inspection, the appraiser drove up (early I may add) to what I thought at the time was to appraise the property. Read more
The Great Depression, take two?… NOT A GOOD THING…
I usually don’t partake in discussions that revolve around politics, however, after last nights debate and the passing of the “bailout” I feel obligated to do so! Read more
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