RealEstateRaves

Most residential real estate agents I run into are very enthusiastic about what’s happening in the market today at least here on the San Francisco peninsula.  Most of what we read in newspapers and hear on the radio are reports more regional in scope.  These reports are not necessarily reflective of market conditions in specific locations, neighborhoods and communities.  There are “hot” and “cold” spots throughout the area as might be expected.  The “cold” spots are really cold and the “hot” spots are really hot where competition to buy a home is fierce.

In the hot spots around the bay the median price has barely dropped…if at all.  In Menlo Park, agents have observed that homes under $1M are slow to move but homes $1.5M to $2.5M are are selling rather quickly.  In the northern part of the peninsula [Daly City, Brisbane, So.San Francisco] there are currently 321 homes for sale with an average list price of $754K [3bd/2bth, 1540sf] and have been on the market an average of 67 days….looks like a buyer’s opportunity in the north.

This is definately a “buyers” market….sellers would be the first to agree.  A rule of thumb: When price, location and condition are in alignment….a house sells and sells quickly.   Who is the next person you know that needs advice and suggestions how to maximize the value of their asset?

Joe Parsons

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