Monday Statistics
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 141 active listings and 108 sale pendings with 46 closed sales for July
Gilroy has 126 active listings and 199 sale pendings with 67 closed sales for July
San Martin has 33 active listings and 14 sale pendings with 14 closed sales for July
Area 1 (all of the above) has 299 active listings and 320 sale pendings with 115 closed sales for July
Been on vacation and back again but it's always interesting to take a break and see what is happening. Doesn't look all that different from when I left a couple of weeks ago. Plus interest rates aren't all that different from what they have been. They seem to be holding in a certain range. I'll keep you posted.
Stay tuned for regular updates!
Showing posts with label Understanding the Market. Show all posts
Showing posts with label Understanding the Market. Show all posts
Tuesday, August 4, 2009
Thursday, July 23, 2009
Beware of Loan Modification Programs
The Department of Real Estate recently issued a fraud warning alerting consumers about loan modification scams and informing consumers of what they can do to protect themselves. The alert is available in both English and Spanish. Last July, the DRE had fewer than 10 complaints involving loan modification companies but today the department has 750 pending investigations. In addition, since last October, the DRE has filed more than 200 desist and refrain orders. A list of the companies and persons the DRE has filed an action against can be viewed at http://www.dre.ca.gov/cons_drs.asp.
It is worth noting that not all firms who collect advance fees for loan modifications services do so illegally the DRE said. In general, only licensed real estate brokers and attorneys operating within the scope of their license may collect advance fees. Real estate brokers must have their advance fee agreement reviewed by the DRE prior to its use to ensure it is compliant with real estate law.
C.A.R. advises members to carefully look at any program that may appear to have a government seal. C.A.R. is not aware of any government programs that have exclusive areas for which you have to pay to participate, and cautions all members to be on the alert for schemes seeking funds from Realtors or consumers with no value, or that may be misleading or unlawful.
The above information was provided by the California Association of Realtors web page.
My 2 Cents - Almost (but not really) unbelievable that there are so many people taking advantage of people who are already financially down but there it is. Check it out on line, with the DRE or with a trusted Realtor before you give away your financial information or money to someone you don't know. Use caution and common sense and get help from a trusted source.
Tuesday, July 21, 2009
Leslie Appleton-Young speaks to Realtors
Chief Economist for the California Association of Realtors Speaks Out
Leslie presented results from her recent survey of California homebuyers and sellers. Here are some of the highlights, insights that might aid you in your own decision making in navigating through the market:
1) Many of today's buyers and sellers are real estate rookies - 38% of buyers surveyed in 2009 were first-timers. That's up from 12% in 2002 and a historic high. 44% of sellers in 2009 were first-timers. That's a lot of people that have never been through a transaction. If you're anxious or confused about something, chances are the people on the other side of the deal are too. Be patient and recognize both sides are working toward the same goal of a closed transaction.
2) The market may be stabilizing, but buyer and seller expectations are far from matched. 70% of buyers surveyed in 2009 reported making one or more offers before closing on a property. 47% of buyers who had transactions fall apart cited seller unwillingness to accept comprises as the reason. If you're a seller this is yet another sign that buyers are out there - if you price right.
3) Buyers are not using the newspaper. Only 12% of buyers surveyed in 2009 used the newspaper to find their home. Moreover, a strong marketing plan ranked as the #1 reason sellers cited for choosing their agent. If you're a seller, don't get hung up on having your home in the paper - it's unlikely to make any impact on the sale of your home - but do make sure an agent has online bases covered.
My 2 cents - This market is still not quite settled back into balance at the same time the very nature of how homes are marketed and how consumers find them is changing. Keep an open mind and look toward a more efficient marketplace in the future.
Stay posted!
Leslie presented results from her recent survey of California homebuyers and sellers. Here are some of the highlights, insights that might aid you in your own decision making in navigating through the market:
1) Many of today's buyers and sellers are real estate rookies - 38% of buyers surveyed in 2009 were first-timers. That's up from 12% in 2002 and a historic high. 44% of sellers in 2009 were first-timers. That's a lot of people that have never been through a transaction. If you're anxious or confused about something, chances are the people on the other side of the deal are too. Be patient and recognize both sides are working toward the same goal of a closed transaction.
2) The market may be stabilizing, but buyer and seller expectations are far from matched. 70% of buyers surveyed in 2009 reported making one or more offers before closing on a property. 47% of buyers who had transactions fall apart cited seller unwillingness to accept comprises as the reason. If you're a seller this is yet another sign that buyers are out there - if you price right.
3) Buyers are not using the newspaper. Only 12% of buyers surveyed in 2009 used the newspaper to find their home. Moreover, a strong marketing plan ranked as the #1 reason sellers cited for choosing their agent. If you're a seller, don't get hung up on having your home in the paper - it's unlikely to make any impact on the sale of your home - but do make sure an agent has online bases covered.
My 2 cents - This market is still not quite settled back into balance at the same time the very nature of how homes are marketed and how consumers find them is changing. Keep an open mind and look toward a more efficient marketplace in the future.
Stay posted!
Monday, July 20, 2009
Monday Morning Statistics
Monday Statistics
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 148 active listings and 109 sale pendings
Gilroy has 136 active listings and 199 sale pendings
San Martin has 31 active listings and 15 sales pendings
Area 1 (all of the above) has 313 active listings and 323 sale pendings
Looks like inventory came down a little last week and pendings sales kept the status quo. Could be the rise in interest rates is contributing to the slow down. However, Gilroy is showing a little more activity all around than the the rest of Area 1. I'll keep you posted.
Stay tuned for regular updates.
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 148 active listings and 109 sale pendings
Gilroy has 136 active listings and 199 sale pendings
San Martin has 31 active listings and 15 sales pendings
Area 1 (all of the above) has 313 active listings and 323 sale pendings
Looks like inventory came down a little last week and pendings sales kept the status quo. Could be the rise in interest rates is contributing to the slow down. However, Gilroy is showing a little more activity all around than the the rest of Area 1. I'll keep you posted.
Stay tuned for regular updates.
Saturday, July 18, 2009
New Bank Owned Property on the Market in Morgan Hill
New Listing located at 955 Barrett Avenue in Morgan Hill
I don't usually include maps of properties but this one is important as you can see because of the location of the house to the freeway. We all discovered in our current market, Buyers are not so forgiving of freeway noise, high tension wires or anything that makes a home less than perfect. So what might be a good deal at the moment could turn into a problem later on down the road when you decide to sell. This is a 5 bedroom, 3 bath home with 1673 square feet located on a 4356 square foot lot and is only 3 years old. Pretty home in a new neighborhood but make sure you plan on living in this area for a long time or the price of $424,900 might not seem like such a good buy. Also, check out the schools in terms of where this home is located as Buyers are also very concerned with schools and their scores.
My 2 cents - Make sure you are factoring in resale later on down the line to make sure you are getting what you want now as well as a home that will allow you to make movement in your life later on down the line.
Wednesday, July 15, 2009
Eagle Ridge Sale
Sometimes Short Sales Actually Work!
This sale closed last week in Eagle Ridge and I was the Selling Agent for this transaction. My clients and I wrote the offer which was accepted by the Seller early February. I have to tell you it felt like forever, living through the process. The hardest aspect of a short sale is the unknown. Even when you have a listing agent who is working with you and upfront, you don't know what is going on with the lender and their behind the scenes. Or if anything at all is going on with the lender. From an agents perspective, you see an incredible lack of organization and precedent that everyone is struggling with. Waiting for a short sale to come together is an incredible act of faith on the part of everyone but especially the Buyers. The market in February was very different than it is now when we have to deal with limited inventory, competitive situations, rising interest rates, time running out on the $8000 tax credit. Back in February we were still trying to decide if the market had hit bottom.
I remember showing this property to my Buyers. At one point they discovered the balcony on the master suite and that is where I found them with their arms around each other looking out onto the green and the views. Something clicked for me and it just felt like we had found their home. Although we never cut our options off and continued to look at the market and available homes, we stayed in there and never let go of the dream. This one came true and I have very happy Buyers who just happen to be great people.
Short sales can be tough, on everyone. There are ways to evaluate the risk and whether it makes sense to continue in the process but there is still an element of unknown that has to be dealt with. I know it was mostly hard work but I also feel there was an element of luck which I am very grateful for. It's a great feeling to be able to make something work and have a happy ending.
My 2 cents - Look at your short sale situation and weigh the pros and cons. Who is your lender, how many loans are you dealing with, are the agents being aggressive in the process or passive, are people communicating, do the agents know what they are doing, do you have all the available information. And don't cut off your options. Play it straight but make sure you are playing it smart and keeping your options open.
Tuesday, July 14, 2009
138 Days Left on the $8000 Tax Credit!
$8000 Tax Credit for Home Buyers
Unexpected, unusual and great to take advantage of is the $8000 tax credit. You are eligible if you are a first time homebuyer or have not owned a principal residence in the last three years. This is an $8000 gift from the federal government. If you qualify and buy a home while the program is available, you'll get $8000 back with your tax credit. If your adjusted gross income is more than $75,000 (or $150,000 for joint filers), then your credit will begin to shrink, depending upon your income. Also, the tax credit is for $8000 OR 10% of the sales price (if you buy a home worth less than $80,000 then you'll get a credit of 10% of that price).
There is a clock ticking on this credit. Your purchase has to be completed within January 1st, 2009 to November 30th, 2009. You will receive the tax credit after you buy your home. You can't use it for a down payment or other closing costs. But, for example, if you close on a house next month, you can file an amended tax return and get the $8000 right away. You do not have to wait until next year!
The tax credit is available for principal home purchases throughout the United States but is only for primary residences (not vacation property). The Administration and Congress created the tax credit to motivate buying and get the economy rolling again. Approximately 30 years ago during another economic downturn, the government offered $2000 tax credits and it helped get the economy back on tract at that time. An extra $8000 can really mean a lot to people all across the country.
P.S. Don't forget - allow 30 to 60 days to finalize your home purchase before the November 30th deadline.
Unexpected, unusual and great to take advantage of is the $8000 tax credit. You are eligible if you are a first time homebuyer or have not owned a principal residence in the last three years. This is an $8000 gift from the federal government. If you qualify and buy a home while the program is available, you'll get $8000 back with your tax credit. If your adjusted gross income is more than $75,000 (or $150,000 for joint filers), then your credit will begin to shrink, depending upon your income. Also, the tax credit is for $8000 OR 10% of the sales price (if you buy a home worth less than $80,000 then you'll get a credit of 10% of that price).
There is a clock ticking on this credit. Your purchase has to be completed within January 1st, 2009 to November 30th, 2009. You will receive the tax credit after you buy your home. You can't use it for a down payment or other closing costs. But, for example, if you close on a house next month, you can file an amended tax return and get the $8000 right away. You do not have to wait until next year!
The tax credit is available for principal home purchases throughout the United States but is only for primary residences (not vacation property). The Administration and Congress created the tax credit to motivate buying and get the economy rolling again. Approximately 30 years ago during another economic downturn, the government offered $2000 tax credits and it helped get the economy back on tract at that time. An extra $8000 can really mean a lot to people all across the country.
P.S. Don't forget - allow 30 to 60 days to finalize your home purchase before the November 30th deadline.
Monday, July 13, 2009
Monday Statistics
Monday Morning Update!
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 157 active listings and 101 sale pendings
Gilroy has 132 active listings and 206 sale pendings
San Martin has 33 active listings and 15 sale pendings
Area 1 (all of the above) has 320 active listings and 322 sale pendings
Overall, last week our listing count increased while sale pendings decreased. I know two of my sales closed last week, one a home at Eagle Ridge in Gilroy (beautiful home on the golf course) and my La Bella listing in Morgan Hill. The Eagle Ridge transaction was a short sale which was accepted by the Seller in the beginning of February - it took 5 months to close! And my listing at 15665 La Bella Court (see photo) started out slow and then started to get multiple interest, which is indicative of any good listing right now. There is a lot of market activity right now and a lot of competition.
Stay tuned for regular updates!
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 157 active listings and 101 sale pendings
Gilroy has 132 active listings and 206 sale pendings
San Martin has 33 active listings and 15 sale pendings
Area 1 (all of the above) has 320 active listings and 322 sale pendings
Overall, last week our listing count increased while sale pendings decreased. I know two of my sales closed last week, one a home at Eagle Ridge in Gilroy (beautiful home on the golf course) and my La Bella listing in Morgan Hill. The Eagle Ridge transaction was a short sale which was accepted by the Seller in the beginning of February - it took 5 months to close! And my listing at 15665 La Bella Court (see photo) started out slow and then started to get multiple interest, which is indicative of any good listing right now. There is a lot of market activity right now and a lot of competition.
Stay tuned for regular updates!
Saturday, July 11, 2009
New Bank Owned Property in Gilroy
Seven year old home at 8801 Zinnia Street in Gilroy just came on the market. This home has 4 bedrooms, 3 baths and 1892 square feet, is located on a 5343 square foot lot and is an attached home. Photos show it in good condition both inside as well as out. The price is very attractive at $341,900 - this is a very competitive price range and a good price for this home. So we'll watch and see how fast the status changes to pending. This bank is requiring proof of the earnest money deposit as well as a preapproval letter from a lender but is not requiring a buyer to use their lending department (some banks want a buyer to be preapproved with them but can't insist someone uses their company). Most banks will include an addendum with terms that protect the bank and limit the rights of the buyer - make sure your read the fine print! It usually applies to timelines for the buyer to perform and clarifies the limited knowledge a bank would have about a property. Transactions with banks are often as-is but I am told it doesn't have to be that way. Most banks will pay for repairs, just not up front so it depends upon whether the listing agent has the ability to deal with getting the money ahead of time.
My 2 cents - Make sure you read that addendum and don't be so quick to give up your rights.
Thursday, July 9, 2009
C.A.R.'s 2009 Survey of California Home Buyers
Favorable home prices, record-low interest rates, and the belief that rates will rise in the near future were the primary motivators leading home buyers to purchase in 2009 compared with last year, according to C.A.R.'s '2009 Survey of California Home Buyers' released this week. Sixty-eight percent of buyers said price decreases motivated them to buy a home, while 39 percent reported low interest rates helped them move to a better location. Twenty-three percent claimed the likelihood that rates will move up as the motivating factor.
"After back-to-back years of sharp declines, home sales in California rebounded in 2008 and early 2009," said C.A.R. President James Liptak. "The increase reflected the combination of favorable prices, low mortgage rates and home buyer tax credits, fueled primarily by sales of distressed properties that accounted for more than half of the state's transactions. Housing affordability has improved dramatically in response to the decline in home prices along with historically low mortgage rates, creating a tremendous opportunity for home buyers in California."
Forty-nine percent of all buyers purchased a home through a traditional market sale, while 38 percent purchased a REO/bank-owned property, according to the survey. Reflecting the difficulty in closing short sales -- properties selling for less than the loan amount -- only 13 percent of buyers purchased a short-sale property. Home buyers who purchased a REO or bank-owned property experienced the highest level of difficulty in obtaining financing, compared with a more traditional transaction. They rated the level of difficulty as 8.9 (on a scale of 1 to 10 representing the greatest level of difficulty in obtaining financing) compared with a 7.7 for home buyers with a traditional market sale and 7.6 for short-sale home buyers.
My 2 Cents - Thought this would be interesting information provided by C.A.R. although most of the above is not surprising. The 13 percent for short sale transactions does surprise me because of the volume of contracts written on short sales as opposed to the actual closed sales. Puts some perspective on the frustration of dealing with this kind of transaction.
"After back-to-back years of sharp declines, home sales in California rebounded in 2008 and early 2009," said C.A.R. President James Liptak. "The increase reflected the combination of favorable prices, low mortgage rates and home buyer tax credits, fueled primarily by sales of distressed properties that accounted for more than half of the state's transactions. Housing affordability has improved dramatically in response to the decline in home prices along with historically low mortgage rates, creating a tremendous opportunity for home buyers in California."
Forty-nine percent of all buyers purchased a home through a traditional market sale, while 38 percent purchased a REO/bank-owned property, according to the survey. Reflecting the difficulty in closing short sales -- properties selling for less than the loan amount -- only 13 percent of buyers purchased a short-sale property. Home buyers who purchased a REO or bank-owned property experienced the highest level of difficulty in obtaining financing, compared with a more traditional transaction. They rated the level of difficulty as 8.9 (on a scale of 1 to 10 representing the greatest level of difficulty in obtaining financing) compared with a 7.7 for home buyers with a traditional market sale and 7.6 for short-sale home buyers.
My 2 Cents - Thought this would be interesting information provided by C.A.R. although most of the above is not surprising. The 13 percent for short sale transactions does surprise me because of the volume of contracts written on short sales as opposed to the actual closed sales. Puts some perspective on the frustration of dealing with this kind of transaction.
Wednesday, July 8, 2009
Home Sweet Home
Another New Morgan Hill Listing
This home is located at 17200 Birch Way in Morgan Hill which is over in the Greenleaf subdivision. 3 Bedrooms, 2 Baths with 1220 Square Feet on a 7020 Square Foot lot. Looks like a cute, modest home with good use of the backyard, large rear yard with pergola and lawn. Home has pride of ownership, dual pane windows and tile floors and is located in the Nordstrom attendance area (careful of this - location doesn't always guarantee placement). Worth checking out but seems a little high compared to the listing at 155 Foothill Court which we looked at yesterday. Right now there are 108 homes under contract and pending close, healthy amount of buyer activity. I'll keep you posted on these homes and let you know when they sell. This is the price range that is moving right now as entry level buyers have opportunities due to lower prices and great interest rates (even with the recent increases) along with some of the current loan programs and tax breaks.
Tuesday, July 7, 2009
New Listing in Morgan Hill
New Listing at 155 Foothill Court in Morgan Hill
This 4 Bedroom, 2 Bath home looks cute with 1463 Square Feet on a 7440 Square Foot Lot. This is an older home of 46 years but has been well maintained and updated - hardwood floors, crown molding & base, ceiling fans, attic fan, remodeled bathrooms, wood burning fireplace, double paned windows, recessed lighting, newly covered patio, newly painted interior & exterior. This is a good price range for this market and sounds like it has been very well maintained. The only negative that I see right off is the location which is right by the cemetary which turns a lot of people off (but not all). I'll keep you posted and let you know how long it lasts on the market. Right now it's been on less than a week. Also, this is not bank owned or a short sale - which is a plus in this market.
Monday, June 1, 2009
Short Sales Anonymous
Hello, my name is Julie and I've been in a short sale since January...
Sometimes what is very obvious from the perspective of an agent, is not obvious at all to a Buyer. I recently experienced the isolation of my Buyers who are participating in short sales which feel as if they are going on forever. And some of them are.
I don't know exactly what it looks like from the Bank's perspective, but I suspect it's a system overwhelmed and overworked, hit hard by an avalanche of work without efficient systems to make sense of the work load. There are probably a lot of people getting blamed and repremanded for situations beyond their control, living under a daily barage of criticism and abuse. With all the public scrutiny, there is no time to say stop and let's take a breath and come up with better systems and solutions to this problem.
But from a Buyer's perspective, from someone who has written a contract and a sizeable check, made the commitment to buy that home and go through the transaction, it just doesn't make any sense at all, not only for how long a time it takes but the lack of communication which also feels like a lack of professionalism and just basic good manners. It's like being stood up for something really important or being in relationship by yourself.
I won't speak for the banks by any means as I am not in their shoes and do not know everything that goes on behind the scenes. But I will say to Buyers, you are not alone. Not only do other Buyers share your frustration, but also the Agents who are working much harder than anyone ever sees are working against a tide of disrespect and lack of cooperation and communication and even financial compensation.
It's a situation that needs to be addressed. And unfortunately, we are in it together. Mostly what we can offer you as agents is our hard work and compassion and communication. Stay in touch with your agents and use information to make educated decisions about your short sale and whether the risks make sense and whether you can end up with a really great home at a really great price. I wish you the best!
Sometimes what is very obvious from the perspective of an agent, is not obvious at all to a Buyer. I recently experienced the isolation of my Buyers who are participating in short sales which feel as if they are going on forever. And some of them are.
I don't know exactly what it looks like from the Bank's perspective, but I suspect it's a system overwhelmed and overworked, hit hard by an avalanche of work without efficient systems to make sense of the work load. There are probably a lot of people getting blamed and repremanded for situations beyond their control, living under a daily barage of criticism and abuse. With all the public scrutiny, there is no time to say stop and let's take a breath and come up with better systems and solutions to this problem.
But from a Buyer's perspective, from someone who has written a contract and a sizeable check, made the commitment to buy that home and go through the transaction, it just doesn't make any sense at all, not only for how long a time it takes but the lack of communication which also feels like a lack of professionalism and just basic good manners. It's like being stood up for something really important or being in relationship by yourself.
I won't speak for the banks by any means as I am not in their shoes and do not know everything that goes on behind the scenes. But I will say to Buyers, you are not alone. Not only do other Buyers share your frustration, but also the Agents who are working much harder than anyone ever sees are working against a tide of disrespect and lack of cooperation and communication and even financial compensation.
It's a situation that needs to be addressed. And unfortunately, we are in it together. Mostly what we can offer you as agents is our hard work and compassion and communication. Stay in touch with your agents and use information to make educated decisions about your short sale and whether the risks make sense and whether you can end up with a really great home at a really great price. I wish you the best!
Monday Morning Update (and on Monday!)
Monday Statistics
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 170 active listings and 121 sale pendings
Gilroy has 128 active listings and 230 sale pendings
San Martin has 36 active listings and 12 sale pendings
Area 1 (all of the above) has 332 active listings and 362 sale pendings
During the month of May, there were 29 closed sales in Morgan Hill, 51 in Gilroy. 4 in San Martin and 84 for the whole of Area 1 – that’s a little less activity and closed sales than we had in March and April but still pretty good and holding strong.
Inventory continues to fall and sales continue to increase. Rates went up last week so we’ll see whether they stay up or will go back down soon and how that affects the market. Rates are still good but not as good as they were which will be a problem for some Buyers. Also, rumors abound about another wave of bank owned properties coming on the market, always the fear getting in the way of what will make us happy.
Stay tuned for regular updates!
Tuesday, May 26, 2009
Nice to be back again!
Monday Statistics (well actually Tuesday)
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 182active listings and 121 sale pendings
Gilroy has 142 active listings and 222 sale pendings
San Martin has 35 active listings and 12 sale pendings
Area 1 (all of the above) has 357 active listings and 354 sale pendings
Inventory continues to fall and sales continue to increase. Right now we are almost neck in neck with active and sales in Area 1. Certain price ranges (under $400,000) are hot right now with multiple offers. The quality listings that are priced well are selling quickly. Buyers should be ready with their prequalification letters from their lender and an understanding of what is going on in the market. Although, within the next 30 days, we will be seeing an influx of bank owned property coming on the market that could slow things down a little. Short sales seem to be getting tougher and are not necessarily the great deals we once thought.
Stay tuned for regular updates!
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 182active listings and 121 sale pendings
Gilroy has 142 active listings and 222 sale pendings
San Martin has 35 active listings and 12 sale pendings
Area 1 (all of the above) has 357 active listings and 354 sale pendings
Inventory continues to fall and sales continue to increase. Right now we are almost neck in neck with active and sales in Area 1. Certain price ranges (under $400,000) are hot right now with multiple offers. The quality listings that are priced well are selling quickly. Buyers should be ready with their prequalification letters from their lender and an understanding of what is going on in the market. Although, within the next 30 days, we will be seeing an influx of bank owned property coming on the market that could slow things down a little. Short sales seem to be getting tougher and are not necessarily the great deals we once thought.
Stay tuned for regular updates!
Friday, May 22, 2009
FALLING DOWN
And getting back up
Last month, I was taking a horseback riding lesson with my daughter when I was bucked off my horse. I did not land gracefully. Well maybe gracefully isn’t the point, I was badly hurt and in a lot of pain and to be honest, I was also scared about the extent of my injuries. I was on the couch for several weeks and doing the bare minimum to survive. This did not include writing on my blog. Sorry.
However, I have not really been connected to my blog this winter for several reasons. One is I have been very busy with real estate and there are just so many hours in the day. But I miss writing on my blog and keeping you all in touch with the latest updates and all the many changes going on in real estate. I found working on articles about new legislation, writing my thought processes about property I had been viewing and sharing my experiences in real estate sharpened my senses and helped me fine tune my real estate knowledge.
It’s fun. I love what I do and I like to share my insights and experiences and hope that it helps, adds to the education of a public that has an overload of information without the tools to process them in a practical way that benefits them. That’s my job. To protect you, help you make good decisions and sometimes help you to get out of your own way.
So onward to more blogging, more information and hopefully more courageous (and interesting) reporting.
Last month, I was taking a horseback riding lesson with my daughter when I was bucked off my horse. I did not land gracefully. Well maybe gracefully isn’t the point, I was badly hurt and in a lot of pain and to be honest, I was also scared about the extent of my injuries. I was on the couch for several weeks and doing the bare minimum to survive. This did not include writing on my blog. Sorry.
However, I have not really been connected to my blog this winter for several reasons. One is I have been very busy with real estate and there are just so many hours in the day. But I miss writing on my blog and keeping you all in touch with the latest updates and all the many changes going on in real estate. I found working on articles about new legislation, writing my thought processes about property I had been viewing and sharing my experiences in real estate sharpened my senses and helped me fine tune my real estate knowledge.
It’s fun. I love what I do and I like to share my insights and experiences and hope that it helps, adds to the education of a public that has an overload of information without the tools to process them in a practical way that benefits them. That’s my job. To protect you, help you make good decisions and sometimes help you to get out of your own way.
So onward to more blogging, more information and hopefully more courageous (and interesting) reporting.
Tuesday, April 28, 2009
Monday (oops, Tuesday) Morning Update!
Monday Statistics
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 192 active listings and 106 sale pendings
Gilroy has 188 active listings and 213 sale pendings
San Martin has 35 active listings and 19 sale pendings
Area 1 (all of the above) has 414 active listings and 338 sale pendings
There is a serious decline in inventory number and quality. A lot of what is currently on the market (not all, of course) are not the most desirable properties. As a realtor, I am seeing a lot more activity with my listings and multiple offers on properties, a lot more activity in the market in general.
According to the Daily Real Estate News on April 20, 2009:
Fed Officials: The Worst Is Over
The worst of the economic crisis is over, according to U.S. officials speaking at a financial conference Friday at Vanderbilt University.Frank Nothaft, the chief economist for Freddie Mac, said housing sales have just about hit bottom and a third of home sales are now foreclosed properties.Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, warned that the declining commercial real estate market still poses a risk to the economy.New York Fed chief William Dudley complained that the programs the government has put in place are being undermined by public perception that they are unfair to average taxpayers and that has made some potential investors fearful that they would be the focus of public outrage if they profit from the programs."It is worth emphasizing (that) actions that lead investors to shun taking risk, especially in this environment, are ultimately detrimental to the ability of households and businesses to secure credit at reasonable borrowing rates," Dudley said.Source: Reuters News, Ros Krasny and Kristina Cooke (04/18/2009)
Stay tuned for regular updates!
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 192 active listings and 106 sale pendings
Gilroy has 188 active listings and 213 sale pendings
San Martin has 35 active listings and 19 sale pendings
Area 1 (all of the above) has 414 active listings and 338 sale pendings
There is a serious decline in inventory number and quality. A lot of what is currently on the market (not all, of course) are not the most desirable properties. As a realtor, I am seeing a lot more activity with my listings and multiple offers on properties, a lot more activity in the market in general.
According to the Daily Real Estate News on April 20, 2009:
Fed Officials: The Worst Is Over
The worst of the economic crisis is over, according to U.S. officials speaking at a financial conference Friday at Vanderbilt University.Frank Nothaft, the chief economist for Freddie Mac, said housing sales have just about hit bottom and a third of home sales are now foreclosed properties.Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, warned that the declining commercial real estate market still poses a risk to the economy.New York Fed chief William Dudley complained that the programs the government has put in place are being undermined by public perception that they are unfair to average taxpayers and that has made some potential investors fearful that they would be the focus of public outrage if they profit from the programs."It is worth emphasizing (that) actions that lead investors to shun taking risk, especially in this environment, are ultimately detrimental to the ability of households and businesses to secure credit at reasonable borrowing rates," Dudley said.Source: Reuters News, Ros Krasny and Kristina Cooke (04/18/2009)
Stay tuned for regular updates!
Monday, April 20, 2009
Monday Morning Update!
Monday Statistics
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 202 active listings and 96 sale pendings
Gilroy has 192 active listings and 207 sale pendings
San Martin has 39 active listings and 17 sale pendings
Area 1 (all of the above) has 432 active listings and 320 sale pendings
Inventory is at the lowest we’ve seen in a while with an increase in sale pendings. Also, there is a lot of listings out there in need of some TLC and not on the A list. If you are a serious buyer right now, be prepared to act fast. The market is changing once again.
Stay tuned for regular updates!
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 202 active listings and 96 sale pendings
Gilroy has 192 active listings and 207 sale pendings
San Martin has 39 active listings and 17 sale pendings
Area 1 (all of the above) has 432 active listings and 320 sale pendings
Inventory is at the lowest we’ve seen in a while with an increase in sale pendings. Also, there is a lot of listings out there in need of some TLC and not on the A list. If you are a serious buyer right now, be prepared to act fast. The market is changing once again.
Stay tuned for regular updates!
Monday, April 6, 2009
Monday Morning Update!
Monday Statistics
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 211 active listings and 83 sale pendings with 29 closed sales for the month of March
Gilroy has 212 active listings and 202 sale pendings with 55 closed sales for March
San Martin has 39 active listings and 16 sale pendings with 3 closed sales for March
Area 1 (all of the above) has 460 active listings and 301 sale pendings with 87 closed sales in March
Inventory continues to decline but pending sales are on the increase and closed sales have also improved. Short sales, which seem to take forever, are complicating the numbers. It’s hard to tell what is actually selling and who’s sitting around waiting to hear from the lender.
Stay tuned for regular updates!
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 211 active listings and 83 sale pendings with 29 closed sales for the month of March
Gilroy has 212 active listings and 202 sale pendings with 55 closed sales for March
San Martin has 39 active listings and 16 sale pendings with 3 closed sales for March
Area 1 (all of the above) has 460 active listings and 301 sale pendings with 87 closed sales in March
Inventory continues to decline but pending sales are on the increase and closed sales have also improved. Short sales, which seem to take forever, are complicating the numbers. It’s hard to tell what is actually selling and who’s sitting around waiting to hear from the lender.
Stay tuned for regular updates!
Monday, March 30, 2009
Monday Morning Update!
Monday Statistics
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 219 active listings and 78 sale pendings
Gilroy has 214 active listings and 202 sale pendings
San Martin has 41 active listings and 16 sale pendings
Area 1 (all of the above) has 473 active listings and 296 sale pendings.
There is a lot of activity in the market right now especially in Gilroy and the lower end of the market. A lot of people are taking advantage of the great interest rates and low prices to own their first home. Inventory and sales are holding pretty steady.
Stay tuned for regular updates!
Good morning South County! Here are your weekly updates on what is happening in your neighborhoods. Feel free to contact me if you want more specific information. As of this week:
Morgan Hill has 219 active listings and 78 sale pendings
Gilroy has 214 active listings and 202 sale pendings
San Martin has 41 active listings and 16 sale pendings
Area 1 (all of the above) has 473 active listings and 296 sale pendings.
There is a lot of activity in the market right now especially in Gilroy and the lower end of the market. A lot of people are taking advantage of the great interest rates and low prices to own their first home. Inventory and sales are holding pretty steady.
Stay tuned for regular updates!
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