Yesterday’s PD claimed that inventory was at a 5 year low for January, so I took a look. Single family residences only, no condo’s, no farms and ranches. 460 total active listings. 331 priced under $1MM and 129 at $1MM or more. 121 of the lower priced listings have been on the market for 90 […]
51 were in attendance. 8 escrows were opened, 4 were closed, no price reductions or “Back on the market”, 22 upcoming listings mentioned and 7 buyer’s needs brought up. The only place on the tour was a condo, which I did not see due to time constraints.
The direction of mortgage interest rates drive the housing market. We’ve been spoiled with ultra-low rates the last few years with many experts predicating 2014 was going to be the year of 5% rates, they were wrong. Here’s why we’re not going to be seeing 5% mortgage rates anytime soon. Ability To Procure Credit Reality […]
The Added Value Zillow brings over sites such as Redfin, Realtor.com or Trulia is the precise estimate of value they call a “Zestimate”. That “Zestimate” is either a triumph of mathematical analysis or complete and utter horseshit. If you look a little below the “Zestimate” you will see something they call a “Value Range” […]
Attendance was 47 on a lovely winter day. 5 new escrows were opened, 1 was closed, there was one price reduction, 5 upcoming listings were announced and 9 “Buyer’s needs” mentioned.The upcoming listings are coming on the market at last year’s prices. There were four homes on the tour today and two looked interesting. I […]
Buyers and agents looked at every one of these properties and decided that they were not willing to pay the asking price. There’s a clearing price for every property and buyers decide what that clearing price is, not sellers. Here are the Holiday leftovers… Residential listings, 300. Mobile/Floating homes, 10. Lots and Land, 140. Multi […]
Yes. Part of what we are seeing is the result of central bank action QE and ZIRP are causing asset bubbles and the lack of prosecution for the frauds that caused the crash of 2008 guarantee that bigger frauds are taking place right now. People are chasing yield and one of the places they are […]