San Francisco Real Estate Market Update for the week of August 19
Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:Media reports regarding the condition of the mortgage industry continue to have a perplexing effect on buyers. Some potential buyers aren’t even attempting to qualify for loans for fear of rejection, and others are simply confused by what the media is reporting and think that reasonable loans don’t exist any more. The reality is that credit tightening has only affected a very, very small percentage of buyers. The fact is that they could be missing a good buying opportunity by waiting, or not trying to qualify.
Our partner Princeton Capital is a well-capitalized, multi-source lender, and is guiding many of our customers through some of the confusion, and assisting them through successful purchase transactions. This remains a great time to buy a home, and a chance to leverage the many opportunities now available. In areas of the East Bay and North Bay, sellers are beginning to lower their listing prices; meaning there are bargains to be had. In other areas, multiple offer situations and tighter inventory render it absolutely crucial for buyers to be working with a strong, solid lender.
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 @ 4:53 PM
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