2 posts tagged “resale home sales”

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Timing the market??

061227 KG Stan in #6FADE4
061227 KG Stan in #6FADE4
I am sitting here on an overcast day celebrating my annual vacation. It allows me the chance to slow down and contemplate the year both professionally and personally.

On a professional level, sales of real estate came back to earth and I feel values are finally aligning. If you are a San Francisco real estate buyer and you are of the advice that you want to time the market. I feel now is the time to evaluate your options. First of all the last two days of housing numbers are out for both new home sales and resale home sales. Both are "up" based on current media reports. Additionally, interest rates are comparatively low and the feeling is that they will stay low thru the 1st quarter or two of 2007.

So if you are contemplating purchasing and want to lock in some appreciation now is the time to do so. The only caveat would be a major political change in the world or terrorist activity.

A special treat on this trip was dinner last evening with a dear friend and former business professor "Stan Freedman". Little does he know how much he influenced my life and taught me more than just business plans!! Also at that dinner was a very bright and insightful female friend, Ellen. We had such good conversation that 3 hours passed in what seemed like 15 minutes.

Remember all your friends and family these last days of 2006. Let's "buy smart" in 2007!!

1 comment Tags: 2006, 2007, interest rates, stan freedman, buy smart, resale home sales, new home sales, scottsdale az …

Market Update: Stabilizing...

I was out this past Sunday looking at property with a client and I began seeing a trend. It started out like most Sunday Open Houses but it was also a little different.

WHY??  Well this particular Sunday was right after a Thanksgiving holiday, it was raining and if you are into sports there were alot of games on tv to keep people happy. And away from the tours.

After the second property I realized they were all VERY busy with couples and agents with clients filling most of the square footage of each, that I visited.

So knowing that both resale and new home sale numbers were coming out I watched in anticipation.

Well on 11/28 the NAR ( National Association of Realtors) reported a .5% increase in resale home sales but a decrease in the median price. Adversely, new home sales numbers were down so that is telling me that we are heading into a "stabilizing market".

With interest rates at approximately 6.18% currently, money is still cheap in the big picture terms but not as cheap as the bottom of the interest rate levels.

In my opinion, a wise buyer who sees a property that meets their needs is in a good position to make a wise investment NOW!!

Post a comment Tags: interest rates, nar, home sales, resale home sales