US Rate on 15-Year Loan at Record-Low

  15-Year Loan at Record Low 2.61 Percent The average U.S. rate on the 15-year fixed mortgage fell last week to its lowest level on record, making refinancing and home-buying more attractive to those who can qualify. Mortgage buyer Freddie Mac said Thursday that the average rate for the 15-year fixed loan fell to 2.61 percent. That's down from 2.64 percent last week and the lowest rate on records dating back to 1991. The previous record low of 2.63 percent was reached in November. The average rate on the 30-year fixed mortgage also moved closer to its record low, dropping to 3.40 … [Read more...]

Sellers! How To Get Your Property Ready For the Market

  Staging: Simply put, the best way to sell a house- besides pricing- is to remove both the occupants and their detritus, paint it, and have someone come in and redecorate it to look like a West Elm catalogue. It's going to take a few more percentage points of the sale price, but decent staging has proven to bring higher sale prices, and faster. We'll go deeper into staging in a future post; but for now, know your bottom line- can you afford to move out and stage your place, and will it be worth it? Repairs: How much work does your property need, and how much can you afford to get … [Read more...]

A Continued Scarcity of SF Listings

  San Francisco - As the story remains one of too many buyers and not enough houses, I remain pleased by my access to off-listing homes.  Each deal that was put together this period experienced multiple offers (anywhere from 4 to 30). Some buyers have gotten discouraged and are putting their home searches on the back burner waiting for a more balanced market.  Furthermore areas such as Lakeside reiterate this competitive buyer atmosphere. Buyers seem to be eager to offer and some newspaper articles have even chronicled buyers making offers with the sight unseen.       … [Read more...]

Luxury Home Sales Boom in San Francisco

Bay Area Luxury Home Sales Boom, February 2013 Click on link below http://www.sfgate.com/realestate/article/Bay-Area-luxury-home-sales-boom-in-2012-4244363.php … [Read more...]

Consumer Confidence and Housing

Boost in consumer confidence a good omen for housing market! Consumer confidence has long been a leading economic indicator for the housing market. The more we feel good about the direction of the economy, the stock market, home values, and improvements in the job market, the more likely we are to take the leap and buy a home. So it was encouraging to see Friday’s announcement that a key consumer sentiment index moved to a four-month high in September. The Thomson Reuters/University of Michigan sentiment index rose to 78.3 this month from 74.3 in August, the highest level since May and … [Read more...]

SF Chronicle, September 14th, Local Home Prices Surge!

Home Sales Up in August ! … [Read more...]

Bay Area Home Sales Continue Rising – Prices Highest in Four Years

June 23rd, 2012 The Bay Area's housing market continued to heat up as summer got underway in June, with sales jumping 7.2 percent from a year ago and the median sale price surging to its highest level in nearly four years, according to a report released this week by DataQuick, the La Jolla-based real estate information services firm. According to DataQuick, the median price for all housing rose 10.4 percent in the nine-county Bay Area last month to $417,000, up from $377,750 last June and $400,000 in May. That was the highest median price for the region since August 2008. What's … [Read more...]

Sailing Fans Start Scoping Out San Francisco

With the America's Cup sailing into San Francisco Bay next summer, some local homeowners with views of the race are renting out their homes to yachting fans willing to pay for a front-row seat. SAN FRANCISCO — As this city gears up for the 34th America's Cup next year, a race of a different kind has already begun: one to snag the best views of the sailing regatta. Peter Jacobsen, a semiretired dentist from Yountville, Calif., isn't taking any chances when it comes to ensuring a view of the America's Cup racecourse on San Francisco Bay. Dr. Jacobsen and his wife, Gwendolyn, last year paid … [Read more...]

Housing Market Gaining Momentum – Sales and Prices Up

The housing market continues to ramp up in the Bay Area… “It is no longer just the investors who are taking advantage of high affordability conditions," said Lawrence Yun, NAR's chief economist. "A return of normal home buying for occupancy is helping home sales across all price points, and now the recovery appears to be extending to home prices." Yun pointed out that the decline in both listings and the so-calledshadow inventory – the anticipation of distressed homes soon to come on the market – has shifted the housing sector in the U.S. from a buyers' market "to one that is much more … [Read more...]