RealEstateRaves

This past Sunday was about as busy as I have seen in a long, long time. It was a drop dead gorgeous day and that may have helped get interested buyers out shopping. I decided to get to my open house in Redwood City early to check to be sure the house was in order, lights on, and a little classical music playing in the background. By the time I opened the door carrying my reams of research, maps and property details I had a throng of people all around me. Later that day I laughed to myself because I realized I had been so busy I never put the “open” sign out on the street. I was constantly in conversation with various people answering questions about this beautiful home. Many commented about the small master bath and I realized it took me nearly 3 hours to finally wind my way back to the master suite to actually check it out and see what my visitors were in fact talking about all day. I would estimate I saw or visited with at least 150 people…it could have easily been 175…I finally closed up and went off to a client meeting about 6pm.

The thought occurred to me as I was driving home after the open house that each day I read the paper, listen to the radio, and watch the evening news I hear the same or similar negative remarks about the real estate market and how things continue to get worse. I am sure that is true in some spots but not everywhere….certainly not at the house I was holding open Sunday. The officiandos know that real estate is a local business and the news reports we hear are often the national view and typically the areas hardest hit by foreclosures, short sales, and REO’s bank owned properties… giving [most] everyone the impression that the market is upside down everywhere and getting worse. That’s just not true….there are areas that are actually doing quite well.

If history repeats as it has done for the past 39 years since California started tracking house appreciation we likely will again see an active spring real estate market….particularly if the conforming loan limit is raised to the $730,000 mark and interest rates remain at these bargain basement levels. It is the making for a “perfect storm” motivating sellers and buyers to do their thing. What we really need is more sunshine.

Joe Parsons

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