Buyers are still optimistic of being a homeowner

Half of the year has gone by and the real estate market is still pretty hot, especially here in the San Francisco Bay Area.  If you’re planning to sell your home now or in the future, there are buyers ready to purchase your home now and in the future.  A lot of buyers are very practical and will purchase a home in a good school district as oppose to having a other benefits the home may offer.

If you’re planning to sell your home, you want to make the home appeal to what the buyers are looking for in a home.  Don’t wait too long, there is a forecast that says home values are going to peak in 2016.

 

Contact me today and find out how you can get started.

SOLD & CLOSED 5020 Palmetto Ave., Pacifica CA

 This home has new owners.  Please welcome them to the neighborhood.    Email me if you would like more information.

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   Virtual Tour of 5020 Palmetto Ave., Pacifica, CA 94044

Listed at $600,000

Great opportunity to own a home with 1250 sq ft of living space and a view of the ocean just outside the door. This well maintained 3 bedroom 2 bath home, built in 1966, is waiting for you to enjoy the updated kitchen, updated baths, beautiful hardwood floors, crown molding, recess lighting, and much  more. This home is conveniently located to transportation, shopping, schools and freeways.

Is your area getting better?

It’s been 6 years since the reccession started.  Do you think things are better?  In my area, San Francisco Peninsula & San Francisco, are definately on the rebound.  I hope yours is doing the same.

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Real Estate Market Improving in California

OCT improving markets

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Great time to sell

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Low inventory creates problems for buyers in the S.F. Bay Area

It is certainly a great time to purchase a property only if there is something to buy.  There are plenty of buyers looking to make the purchase but instead, they are experiencing disappointment after disappointment in trying to make offers for a home.   Some buyers have made offers over the asking price only to find out that there were 20 other offers for the same house.  Some all cash purchases, some with large down payments, and most of them are over the asking price as well.  This is due to the lack of properties available for sale.  The housing inventory is so low that it is creating a sellers market.  Where is all of the shadow inventory?  Until more properties come on the market, buyers need to be patient and hope that more properties come on the market.

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Is the real estate market improving?

My buyers are still experiencing multiple offer situations with all of the available listings here on the San Francisco peninsula,  especially with homes that are priced under $500,000.  They are getting frustrated and some have stopped searching all together.  All I can say is to hang in there and something will come your way.  This is still the best time to buy something while interest rates and home prices are still low.   Multiple offers will continue if the inventory continues to be scarce.  There might be some relief soon as banks start to release their huge shadow inventory.  It is estimated that there is more then a million homes that are being held.  Will this HELP?  I hope so. 

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More forclosures are coming

Home sales have declined in some areas and its due to high demand, low interest rates and a shortage of homes to buy.  This creates a change in the market place.  Not good for buyers but good for sellers.

Buyers around the bay area are going to be happy to see more homes on the market.  Currently homes that are under $400,000 are experiencing a seller’s market.  Most sellers are receiving multiple offers for their home.  Every home that I have made offers for my clients have had more then 1 offer.  One house in Hayward had 18 to 20 offers.  Another house in San Bruno had 6 offers. My listing in So. San Francisco received 2 offers above the asking price, right after my open house, and 1 was all cash.   My other listing in Pacifica received 8 offers, all over the asking price.  It’s like that all over the Bay Area.  It’s pretty discouraging for buyers today.

Maybe there is some relief coming soon.  There is a shadow inventory due to be release around summer.  I hope this will help the buyers that are trying to get into their home.

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Is the real estate market improving?

It seems like the market is improving.  Sales have been increasing and here are 8 areas that are showing signs of a recovery.

I have been experiencing a market that resembles the last seller’s market not a buyer’s market.  There is not a lot of inventory available for all of the buyers here in the Bay Area.  I have a property for sale in Pacifica, Ca, listed at $338k and received 6 offers and all above the list price.  I have been also representing buyers and making offers to purchase, but have been in bidding wars.   In San Mateo county, it would take approx. 4.1 months to sell all of the homes that are on the market compared to 4.5 months same time last year.  Where are all of the bank owned properties?

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