Multiple Offers Up In June Vs May- 2009
Redfin announced today that 80% of offers this month so far have been made on properties with multiple offers. That is up from 69% last month. This was reported on the website SFGate.com.
This is a good indication as to the market, but we also have to realize that this is only what Refin is reporting. We have not had any agency like NAR (National Association of Realtors), or CAR (California Association of Realtors) report any stats like this at the moment.
Personal Note: I would agree that in the areas that they are reporting (East Bay & Central Valley) we have seen an up turn in the number of homes being sold. On the other hand though this is nothing like 2006-2007 when we were seeing multiple offers going 10-20% over the asking price.
San Francisco has seen an upward movement in the amount of properties that are currently being sold. We are even seeing on homes that are priced correctly and show in excellent condition are moving and even getting multiple offers.
Over all Market: Now is a wonderful time to buy. We have loan products out there and available to everyone. We are still able to finance 3.5% down payment, credit scores down to 580, closiong costs negotiated to be paid by seller and stated income for self employed is available. If you can afford to buy now and it makes sense financially.....Call me Today!
** Blog post to follow with more information on Self Employed Stated Loans now Available**
Article Referenced in above remarks: http://www.sfgate.com/cgi-bin/blogs/ontheblock/detail?entry_id=44120&tsp=1
This is a good indication as to the market, but we also have to realize that this is only what Refin is reporting. We have not had any agency like NAR (National Association of Realtors), or CAR (California Association of Realtors) report any stats like this at the moment.
Personal Note: I would agree that in the areas that they are reporting (East Bay & Central Valley) we have seen an up turn in the number of homes being sold. On the other hand though this is nothing like 2006-2007 when we were seeing multiple offers going 10-20% over the asking price.
San Francisco has seen an upward movement in the amount of properties that are currently being sold. We are even seeing on homes that are priced correctly and show in excellent condition are moving and even getting multiple offers.
Over all Market: Now is a wonderful time to buy. We have loan products out there and available to everyone. We are still able to finance 3.5% down payment, credit scores down to 580, closiong costs negotiated to be paid by seller and stated income for self employed is available. If you can afford to buy now and it makes sense financially.....Call me Today!
** Blog post to follow with more information on Self Employed Stated Loans now Available**
Article Referenced in above remarks: http://www.sfgate.com/cgi-bin/blogs/ontheblock/detail?entry_id=44120&tsp=1
Labels: Bay Area Real Estate Market, George Langford, Multiple offers, San Francisco Real Estate website, Zephyr Real Estate
posted by George Langford at
11:01 AM
1 Comments:
Great post, George! There is a lot of competition for homes, especially in the lower price ranges!
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