SF Assoc. Of Realtors June Market Report

 

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SF Prestige Home Index

The First Republic Prestige Home Index for San Francisco is based on a portfolio representing a cross-section of homes valued at $1 million or more in eight Bay Area counties.

Values of properties in the portfolio were traced back to 1985 using regression analysis and then calculated for each year as well as for each quarter since the fourth quarter of 1994.

For each home in the portfolio, a market evaluation was performed for each time period taking into account repeat sales, comparable sales, and characteristics such as size of house.

Link To Origional Document

This chart shows changing values of a portfolio of homes selected by First Republic, value of each home produced quarterly by Case Shiller Weiss, Inc. ©2012, First Republic Bank.

May 2012 Market Update

JPMorgan’s Pain May Be Homebuyers’ Gain

Photo of the New York Stock Exchange and the early home of JPMorgan Chase.

Trouble on Wall Street drives down mortgage rates.

Trouble on Wall Street drives down mortgage rates.
Fallout from JPMorgan Chase’s $2 billion trading blunder and events in the eurozone continue to rattle the financial markets, but there’s a curious upside to the turmoil that could favor homebuyers. Simply put, bad news on the economy can be good news for interest rates, and JPMorgan’s headache – plus uncertainly in Europe and talk of tough new financial regulations – may cause mortgage rates to fall significantly in the coming weeks, presenting an exceptional opportunity for homebuyers and current borrowers thinking about refinancing a mortgage. Here’s why: Mortgage rates are closely aligned with the yield on 10-year U.S. Treasury bonds, and the yield falls as more bonds get bought up by investors. As the trading practices at JPMorgan get a public airing, investors may very well decide that securities are a bad investment right now and turn to Treasurys. That, in turn, would drive down yields, and mortgage rates with them. At Pacific Union International, we keep a close eye on Wall Street as well as Main Street, and we encourage buyers and sellers – and current borrowers, too – to pay close attention to Treasury yields and mortgage rates in the weeks ahead. We’re ready to help, and so are our partners at Mortgage Services Professionals. (Photo courtesy of Luisvilla, via Flickr.)

San Francisco Homes On The Way

Buyers, Get Ready! New Homes Are On the Way

March 9, 2012

 

Here in the Bay Area, we’ve been heartened by the recent signs of an improving economy. Between the improving job numbers and the extra buying power offered by today’s ultra-low interest rates, the factors are increasingly positive in supporting an upswing for our real estate industry.

But it continues to be predominantly a seller’s market, with inventory (available homes for sale) far outstripped by demand. In many of our areas, we’re seeing multiple offers, reduced time on the market, and a few frustrated buyers who just can’t find a property.

However, we’re seeing some early harbingers of change. One of our insider-secret leading economic indicators is on the rise: the availability of home stagers.

Home staging is the art and science of presenting a home in its best light to facilitate a sale. The best stagers create an attractive “blank slate,” through a combination of design and décor, onto which prospective buyers can project themselves.

These efforts work. StagedHomes.com reports that 94 percent of staged homes sold in 29 days or less, compared to an average 145 days on the market for non-staged homes. According to a HomeGain national survey, staging a home brings on average a 299% return on investment for sellers.

That means smart sellers make staging a priority, and an increase in business to stagers tends to precede an increase in homes for sale.

In several of our areas, home stagers are busier than ever — a great sign!

For example, the word from our Marin offices is that stagers are seeing increased demand for their services with properties in the $1 – $2 million range. One of the top stagers reports he is busier than ever – at the time we spoke with him, he was juggling 21 homes.

Other notes from Marin:

• There’s tough competition on almost every staging opportunity
• Many of the projects are larger in scope than usual
• Stagers are expecting to see this increased activity continue through June

All the Marin stagers we contacted had examples of properties they staged going into contract within a week, with one seeing 3 of 7 go into escrow in just 6 days. All 3 had multiple offers and went over asking.

Other Pacific Union branch executives throughout the Bay Area confirm that the number of new listings is on the rise. In our Contra Costa area, for example, the upcoming number of listings is double what it was two weeks ago – and most of these are brand-new to the market rather than re-listings.

All this means we’ll be seeing an influx of new properties coming on the market in the next 4 to 6 weeks. So buyers, start your engines! Looks like March might be the month to make your move.

Look at the Latest SF Homes on the market by clicking here:

by Pacific Union International

Bidding War On Homes

The following appeared in today’s Contra Costa Times. It certainly seems to be real estate season!

Q1 ’12 will enjoy the best results for units sold since 2005!