Jeffrey Tung's Real Estate Blog » real estate http://jefftung.net Realty World - Success Plans, Inc. Serving you since 1986 Mon, 30 Apr 2012 22:27:48 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Fair Practices? http://jefftung.net/2011/12/28/fair-practices/ http://jefftung.net/2011/12/28/fair-practices/#comments Wed, 28 Dec 2011 20:24:36 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=592 Here we are again.  It seems like every governmental agency has it’s favorites.  Remember the huge governmental bail outs, well here’s another example of government unfairness.  RESPA  seems to also have favorites too.  Is this really going to help consumers?

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]]> http://jefftung.net/2011/12/28/fair-practices/feed/ 0 Home sales improving!!! http://jefftung.net/2010/11/05/home-sales-improving/ http://jefftung.net/2010/11/05/home-sales-improving/#comments Fri, 05 Nov 2010 23:46:16 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=352 Now that we are in the last part of the year, how is the real estate market? Well for the month of September, existing home sales were up by 10% from the month of August.  However, sales are down by 19.1% compared to September 2009.  This is a great opportunity for buyers to take advantage of the market.  It’s no wonder that Americans still think about owning their own home.  80% of Americans believe in buying a home is a good financial decision.

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]]> http://jefftung.net/2010/11/05/home-sales-improving/feed/ 0 CAR home sales report for August http://jefftung.net/2010/10/06/car-home-sales-report-for-august/ http://jefftung.net/2010/10/06/car-home-sales-report-for-august/#comments Wed, 06 Oct 2010 23:07:49 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=307 Are you wondering what your home is worth these days?  The California Association of REALTORS have published the results.  Some areas have experienced some appreciation.  My guess is that the valueshave bottomed out and are starting to go up.  San Francisco and the peninsula home values seem to be doing better then a lot of other areas. 

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]]> http://jefftung.net/2010/10/06/car-home-sales-report-for-august/feed/ 0 What can you do to avoid forclosure? http://jefftung.net/2010/08/09/what-can-you-do-to-avoid-forclosure/ http://jefftung.net/2010/08/09/what-can-you-do-to-avoid-forclosure/#comments Mon, 09 Aug 2010 23:02:17 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=272 Having a hard time keeping your payments up? If you’re like millions of people facing the thought of loosing their home, here are some options from Fannie Mae, that may help your situation. A little knowledge goes a long way.  You may be surprised to know that there is a way for you to keep your home.

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]]> http://jefftung.net/2010/08/09/what-can-you-do-to-avoid-forclosure/feed/ 0 The best time ever to buy a home http://jefftung.net/2010/08/02/the-best-time-ever-to-buy-a-home/ http://jefftung.net/2010/08/02/the-best-time-ever-to-buy-a-home/#comments Mon, 02 Aug 2010 22:52:19 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=258 Have you been thinking about when it may be the best time to purchase a property? Well, here’s 5 reasons why you might want to make that big step now. Don’t forget, real estate has cycles. We are now in a buyer’s cycle and it’s the best time to take advantage of the market place. Remember, not too long ago, the last seller’s market? Do you remember when prices went through the roof and properties were selling like hot cakes? Does multiple offers to buy a home and  bidding over the asking price sound familiar? Well, it’s better now. If you can get into a property today, you’ll be able to ride the wave of the next seller’s market.

So how are you going to get the money to take advantage of the opportunity? Unless you have lots of cash to make that purchase, you should see your banker or loan agent to see how much you can borrow. If you need to scrape up some money for a down payment, here’s 7 ways that may help. Good Luck!

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]]> http://jefftung.net/2010/08/02/the-best-time-ever-to-buy-a-home/feed/ 0 Does it sound like it is too good to be true? http://jefftung.net/2010/07/21/does-it-sound-like-it-is-too-good-to-be-true/ http://jefftung.net/2010/07/21/does-it-sound-like-it-is-too-good-to-be-true/#comments Thu, 22 Jul 2010 00:26:58 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=243 Beware!! There are predators out there and they will take advantage of people in time of need. It is unfortunate, but be aware. When looking for help, just be careful when you make a commitment.  There are scams out there.

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]]> http://jefftung.net/2010/07/21/does-it-sound-like-it-is-too-good-to-be-true/feed/ 0 How is the real estate market doing? http://jefftung.net/2010/07/01/how-is-the-real-estate-market-doing/ http://jefftung.net/2010/07/01/how-is-the-real-estate-market-doing/#comments Thu, 01 Jul 2010 22:40:31 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=224 Since we have been in this recession for a while now, what’s your feeling about the results from all of the government bail outs? Some areas have seen some improvement but some have not. There have been some many different programs that have been implemented to help everybody, but is it really working or are we digging a big whole, deficit, for our future generations to pay?

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]]> http://jefftung.net/2010/07/01/how-is-the-real-estate-market-doing/feed/ 0 10 reasons to buy now http://jefftung.net/2010/06/25/10-reasons-to-buy-now/ http://jefftung.net/2010/06/25/10-reasons-to-buy-now/#comments Sat, 26 Jun 2010 03:33:56 +0000 Jeff Tung http://jtung.blogs.rwnetwork.com/?p=214 Even though the federal  tax credit may not make a come back, there are lots of reasons why it is still a great time to purchase a property. 

One of the most important factor that affects most buyers is interest rates.  As the rate gets higher, the amount of money a person can qualify for would be less. Interest rates have been really low historically speaking and with the problems we are facing today, the rates will go back up.  I don’t think interest rates will ever be lower then what they are today.  30 years ago, I thought I would never see rates as low as they are today.  We could see rates as high as 18%, just like it was in 1981, or even more.

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]]> http://jefftung.net/2010/06/25/10-reasons-to-buy-now/feed/ 1 S.F. Real Estate Update http://jefftung.net/2009/08/29/s-f-real-estate-update/ http://jefftung.net/2009/08/29/s-f-real-estate-update/#comments Sat, 29 Aug 2009 00:15:12 +0000 Jeff Tung /?p=17 San Francisco is experiencing  an increase of sales prices for median priced single family homes.  The prices rose about 3% between June and July of this year for the 4th consecutive month.  The Median sales price is $785,000. The inventory is lower and there are 644 active listings for sale. And it takes less time, about 46 days, to sell the home.  This is due to the availability of  low interest rate loans consumer confidence and the reduction in prices.

For more information, click on the links below.

http://www.sfrealtors.com/pdf/realtor_advantage/Revised_Press_Release_August.pdf

http://www.sfrealtors.com/pdf/realtor_advantage/Revised_Market_Focus_August2009.pdf

]]> http://jefftung.net/2009/08/29/s-f-real-estate-update/feed/ 0 August Real Estate Update http://jefftung.net/2009/08/05/august-real-estate-update/ http://jefftung.net/2009/08/05/august-real-estate-update/#comments Wed, 05 Aug 2009 01:47:06 +0000 Jeff Tung /?p=11 Summer is almost over and I hope you’re enjoying the season. 

 The worst recession in 70 yeas is also showing signs of being over too. The Commerce Dept. reported that the economy shrank at an annualized rate of 1% which is better then the 6.4% shrinkage in the first quarter of this year. Economist think the economy is poised for growth, but slowly. You can read more of the state of the economy by clicking this link: http://rismedia.com/2009-08-03/signs-of-life-slower-decline-may-signal-recessions-end/.

 
As far as the real estate market is concerned, it seems like we are near the end of the real estate bear market. New homes are selling again and  the inventory levels are declining along with the amount of time it takes to sell. For more information about the market, please click on these links: http://rismedia.com/2009-08-03/is-the-real-estate-bear-market-beginning-to-bottom-out/
 
 
The market currently in San Mateo county is also showing signs of a rebound. The information below is from the San Mateo MLS showing the market activity from the end of the 1st quarter to the end of the 2nd quarter. As you can see there has been an increase of new listings, a decrease of homes for sale, an increase of homes sold, a decrease of marketing time, the average sales price increased, and the median price increased. This is totally opposite of what the market was doing last year. If you would like more information about your area, please let me know and I’ll be happy to furnish you the information.
 
Single Family Residential                
Years New Listings Current Inventory Closed Sales Average DOM Average Sales Price Median Sales Price Total Sales Volume  
2009-Q1 1689 1627 635 84 738,831 560,000 468,419,476  
2009-Q2 1768 1500 1066 75 893,332 682,500 949,612,038  
Summary 7428 1285 3833 70 1,013,672   3,880,337,152  
                 
It’s not too late to purchase something now. Buyers still can get tax credits for buying their first home, interest rates are still low and affordable, and the prices have bottomed out and are on the way up. I can tell you that the days of multiple offers are here again in a lot of areas.
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