Realty World - Success Plans, Inc. » pending sales increase http://realtyworldsuccess.com Serving you since 1986 Thu, 10 May 2012 06:28:14 +0000 en hourly 1 http://wordpress.org/?v=3.3.2 Is the real estate market improving? http://jefftung.net/2012/04/30/is-the-real-estate-market-improving-2/ http://jefftung.net/2012/04/30/is-the-real-estate-market-improving-2/#comments Mon, 30 Apr 2012 22:27:00 +0000 Jeff Tung http://realtyworldsuccess.com/2012/04/30/is-the-real-estate-market-improving-2/ My buyers are still experiencing multiple offer situations with all of the available listings here on the San Francisco peninsula,  especially with homes that are priced under $500,000.  They are getting frustrated and some have stopped searching all together.  All I can say is to hang in there and something will come your way.  This is still the best time to buy something while interest rates and home prices are still low.   Multiple offers will continue if the inventory continues to be scarce.  There might be some relief soon as banks start to release their huge shadow inventory.  It is estimated that there is more then a million homes that are being held.  Will this HELP?  I hope so. 
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]]> http://jefftung.net/2012/04/30/is-the-real-estate-market-improving-2/feed/ 1 Is the real estate market improving? http://jefftung.net/2012/03/20/is-the-real-estate-market-improving/ http://jefftung.net/2012/03/20/is-the-real-estate-market-improving/#comments Tue, 20 Mar 2012 23:47:00 +0000 Jeff Tung http://realtyworldsuccess.com/2012/03/20/is-the-real-estate-market-improving/ It seems like the market is improving.  Sales have been increasing and here are 8 areas that are showing signs of a recovery.
I have been experiencing a market that resembles the last seller’s market not a buyer’s market.  There is not a lot of inventory available for all of the buyers here in the Bay Area.  I have a property for sale in Pacifica, Ca, listed at $338k and received 6 offers and all above the list price.  I have been also representing buyers and making offers to purchase, but have been in bidding wars.   In San Mateo county, it would take approx. 4.1 months to sell all of the homes that are on the market compared to 4.5 months same time last year.  Where are all of the bank owned properties?
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Sales of single-family Bay Area homes continuing to surge (mercurynews.com)
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]]> http://jefftung.net/2012/03/20/is-the-real-estate-market-improving/feed/ 4 Foreclosures are up in the third quarter!! http://jefftung.net/2011/10/24/foreclosures-are-up-in-the-third-quarter/ http://jefftung.net/2011/10/24/foreclosures-are-up-in-the-third-quarter/#comments Mon, 24 Oct 2011 23:11:00 +0000 Jeff Tung http://realtyworldsuccess.com/2011/10/24/foreclosures-are-up-in-the-third-quarter/ There has been more then 610,000 foreclosures last month and represents a 1% increase then the previous quarter.  On average it took 336 days to complete the foreclosure process nation wide.  New York took 986 days to complete the process while Texas only took 86 days.  Wow, Texas seems to be doing something different. 
President Obama is expected to help struggling homeowners with their mortgage payments.  The Wall Street Journal reports,  ”The administration’s plan is expected to eliminate “appraisals and extensive underwriting requirements for most borrowers” who are up-to-date on their mortgage and want to refinance at a lower rate”.  This should help those who have been keeping up with their payments and were looking for assistance in avoiding foreclosure. 
While most the country is having foreclosure problems, there are areas that are still doing well.  These areas are the most expensive areas in the United States.  The economy today doesn’t seem to hurt these types of properties.  In fact, it seems to have increased the sales activity  in this  price range.

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