San Francisco Real Estate Market Update for the week of July 22
Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:The media enjoyed a field day with the real estate industry this week in attempting to analyze major reports issued by N.A.R. and the Commerce Department regarding the nationwide housing market. Combined with subprime lending issues and Wall Street’s wobbly performance, most reporters took the easy route of predicting doom and gloom, and a longer downturn for real estate on a national front.
The media forgot, however, to mention a few key points which indicate that this is an excellent time to buy real estate, and savvy sellers are reaping the rewards. Regarding issues with lending, the simple fact is that lenders are more than happy to lend money to people who can afford to borrow it. Standards for documented income, assets and cash flow have become stricter, but rates remain relatively low. Additionally, when Wall Street suffers from volatility, people tend to cash out of the stock market and reinvest in real estate.
Read the entire report here.
- Rick Turley
* For an e-mail alert when this report is updated, send an e-mail to info@SFResidence.com with "weekly market report" in the subject line.
posted by SFResidence.com @ 12:09 PM
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