San Francisco Real Estate Market Update for the week of February 17, 2008
Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest weekly report:Economic news was sketchy again this week, with housing-related headlines continuing to point out the scary negatives. Fortunately, we continue to see a surprising amount of interest from buyers who are deciding to take the plunge. Really, the deals that are out there are getting to be irresistible, and with mortgage rates starting to creep back up (though still at near historic lows) buyers are recognizing that now really just may be the best time to buy.
Sales are increasing in all price ranges in many areas, and it is perhaps the passing of the economic stimulus package that is spurring these buyers into bringing their checkbooks with them when they’re looking at properties. Buyers are also being properly educated by the real estate industry and doing their research – not just being scared by skewed headlines. Now they’re jumping in while the deals are out there. We are also starting to see homes that have been on the market for quite awhile starting to get multiple offers and selling. First time buyers are also finding affordable, desirable homes in lower price ranges and through REO sales – and they’re buying them. It is not uncommon now to see multiple offers on REO's...
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 @ 2:09 PM
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