Bay Area home sales, prices drop in September

Bay Area home sales, prices drop in September

Check out this recent Mercury News article with updates on today’s real estate market in the Bay Area. Higher inventory has led to a drop in sales prices making this a great time for buyers to jump back into the market. The real estate market seems to have shifted in the past few months – I had 25 offers on one of my listings back in March of this year and now buyers are often only competing with a few others for homes. If you were considering making a move in the real estate market, now is definitely the time! Give me a call today at (408) 410-2060 to discuss your options! 

2011 San Francisco Bay Area Real Estate Market Review

2011 San Francisco Bay Area Real Estate Market Review

Check out the link  to this month’s Reality Check from Coldwell Banker takes a look back on the housing market in the Bay Area in 2011.

Of particular interest is CAR’s forecast of new home sales in 2012 – which stands at a sluggish 1%. However, this forecast encompasses the entire state of California and given the dynamic Silicon Valley market, which is adding high quality jobs, one can only hope that the local market will outperform CAR’s prediction.

The market is also seeing strength in the luxury high-end home segment specifically in Silicon Valley, San Francisco and the Peninsula with many homes for sale receiving multiple offers. There was some noticeable distinction in the mid market, where there was very few homeowners ‘trading up’ perhaps due to economic uncertainty.

Some hopeful signs for 2012..

  1. There seem to be fewer distressed sales
  2. As buyers become more active in the market place and inventories compress, pricing has begun to firm up
  3. Some banks have implemented procedural efficiencies for processing short sales, allowing for faster approvals
  4. The news media has finally started to question if we have reached a bottom, which will hopefully boost consumer confidence 

Here’s to hoping 2012 marks a true turnaround in real estate market in California and specifically and Bay Area!

2011 San Francisco Bay Area Real Estate Market Review

Check out the link  to this month’s Reality Check from Coldwell Banker which takes a look back on the housing market in the Bay Area in 2011.

Of particular interest is CAR’s forecast of new home sales in 2012 – which stands at a sluggish 1%. However, this forecast encompasses the entire state of California and given the dynamic Silicon Valley market, which is adding high quality jobs, one can only hope that the local market will outperform CAR’s prediction.

The market is also seeing strength in the luxury high-end home segment specifically in Silicon Valley, San Francisco and the Peninsula with many homes for sale receiving multiple offers. There was some noticeable distinction in the mid market, where there was very few homeowners ‘trading up’ perhaps due to economic uncertainty. Continue reading “2011 San Francisco Bay Area Real Estate Market Review”