First Republic Publishes California Luxury Home Report for Q4 2008
Visit our
website for the latest First Republic report on California luxury home sales for 3 key areas:
- San Francisco - Down 3.1% for the year
- Los Angeles - Down 3.7% for the year
- San Diego - Down 8.3% for the year
Read the San Francisco report here.
TRI Coldwell Banker San Francisco real estate statistics - last week in review
SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco which is one of the premier offices in the City and has the market share numbers to prove it. We have some of the top agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.
This week is showing that the market is starting to pick up. Go to our
website and get the statistics for our office.
- Janis Stone
San Francisco Real Estate Market Update for the week of February 15, 2009
Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest
weekly report. Here is an excerpt:
It was a week full of stories and reports, both from the cynics and proponents of the American Recovery and Reinvestment Act of 2009. The $780 billion package was signed into law on February 17 and truly is the largest, most unprecedented recovery act in history.
The provisions of the bill were changing even up until hours before the House and Senate voted on the bill, but the final provisions were recently posted to NAR’s website. Click here to access the details and learn more about the housing elements that were included.Read the entire article
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.
Mortgage Weekly Update - Last Week in Review
Foster Weeks publishes a
weekly mortgage report which is updated every Monday morning. How is this affecting the
San Francisco real estate market? Read our
weekly and
monthly market reports. Here’s what Mr. Weeks says about last week’s activity:
The first plan, the Economic Stimulus Plan for 2009, was finally approved by Congress and signed by President Obama. In addition, the President unveiled the initial details of his Homeowner Affordability and Stability Plan, which is designed to help stabilize the housing market and keep millions of borrowers in their homes. Many of the details of these plans are still being worked out, but read this week's Mortgage Market View article below for an overview of some benefits that may impact you.
In other news, the Stock market plunged last week on continued fears of a deepening recession, a failing banking system, weak corporate earnings and forecasts. The 113 year old Dow Jones Industrial Average closed the week down almost 7%, reaching a six-year low.Read the entire report
here.
- Foster Weeks
Janis Stone Writes About The Stimulus
Janis Stone wrote a short piece about her take on the stimulus. Government may be getting involved, but ultimately it is up to us, the citizens, to take action and get the economy back on track.
Read the post
here.
- Mick Orton
TRI Coldwell Banker San Francisco real estate statistics - last week in review
SFResidence is part of the TRI Coldwell Banker office at 1699 Van Ness in San Francisco which is one of the premier offices in the City and has the market share numbers to prove it. We have some of the top agents selling real estate in the San Francisco Bay Area. As a result, our office posts some impressive numbers.
Things are selling! In our office this week we had 9 sales reported so things are moving. Granted, they are not selling at full asking price in most cases, but deals are being made!
Go to our
website and get the statistics.
- Janis Stone
From our February Newsletter
Even though the statistics show very little movement we are sensing more activity at open houses and sales at all price points. January always tends to be slow because of the lack of inventory, but this year is even more so because of the economy. It will take a couple of months to see if this activity turns into sales or just "tire kickers". Interest rates continue to stay low and prices are soft, even in the prime areas of San Francisco. What a GREAT TIME to buy! A few people are able to see this opportunity and are acting on it so when good properties come on the market there are buyers out there for them. But it takes preparation, accurate pricing and consistent marketing to attract them. I actually love this market because it allows skilled agents to show clients how important it is to hire an experienced agent.
Read the entire
newsletter on our website.
- Janis Stone
San Francisco Real Estate Market Update for the week of February 8, 2009
Read what Rick Turley, President of Coldwell Banker, San Francisco/Peninsula says in his latest
weekly report. Here is an excerpt:
A compromise on the Economic Stimulus Package has been reached. The new price tag: $787 billion. That’s below both the $820 billion House-passed version and the $838 billion Senate-passed version.
Just like with anything in life, the final package is all about compromise. Real estate advocates from NAR and Realogy President Richard Smith lobbied well on our behalf but in the end only a portion of the requests we had of lawmakers were made part of the final Economic Stimulus Package.
I am encouraged that lawmakers have now reached an agreement and we can finally move forward with some direct action.
The goal of the highly controversial Economic Stimulus Package is to create or save some 3.5 million jobs while helping to rebuild our nation’s economy which has been in a recession since December 2007. Although, at the writing of this piece, the details of the legislation had not been finalized we do anticipate a number of important housing provisions, including (as reported by NAR):
- “Homebuyer Tax Credit – an $8,000 tax credit that will be available for qualified purchase of a principal residence by a first time homebuyer between January 1, 2009 and December 1, 2009. The credit does not require repayment. Individuals who purchase in 2009 using financing assistance from state and local mortgage bonds will be permitted to use the credit, as well. Click here for a chart with details on the first-time home buyer tax credit.
- FHA, Fannie and Freddie Loan Limits – Revised loan limits for FHA, Freddie Mac, and Fannie Mae. Specifics have not been released but reports indicate that the 2008 limits have been reinstated for 2009 except in those communities where the 2009 limits are higher. Additional increases in individual communities may also be available at the discretion of the HUD Secretary.
- Foreclosure Mitigation & Neighborhood Stabilization – Funding for states and local communities to be used for neighborhood stabilization activities for the redevelopment of abandoned and foreclosed homes are authorized.”
In addition to these new elements, NAR continues to work with the Department of Treasury to implement a mortgage buy-down program. The details on that will surface over the next several weeks.
To view all of the housing provisions, click here: http://www.realtor.org/government_affairs/gapublic/uae_hr1_additional_provisions
So what’s next? President Obama is pushing to get quick approval of the emergency package so he can sign it into law before the end of this three-day holiday weekend.
Read the market statistics 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.
Mortgage Weekly Update - Last Week in Review
Foster Weeks publishes a
weekly mortgage report which is updated every Monday morning. How is this affecting the
San Francisco real estate market? Read our
weekly and
monthly market reports. Here's what Mr. Weeks says about last week's activity:
We publish this report in its entirety on our
website.
"The Bond market closed early on Friday in advance of the President's Day holiday. Bonds and home loan rates had improved a bit early in the week, but lost their ground late in the week, and ended slightly worse than where they began."- Janis Stone
We're Back!
After months of trying our blog on the same site as our website, we found that our ranking have dropped in both Google and Yahoo. We had become used to the attention we were getting from you readers, and so we have decided to come back.
To show our appreciation for people who take the time to read our blog and learn about San Francisco Real Estate, we want to give you an opportunity to receive 2 tickets to "Shopping! The Musical" which is playing at the Shelton Theater. Go
here to read the post! You have until February, 28, 2009 to enter the drawing.
- Janis Stone
