Realty World - Success Plans, Inc. » San Francisco Real Estate 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 More forclosures are coming http://jefftung.net/2012/04/02/more-forclosures-are-coming/ http://jefftung.net/2012/04/02/more-forclosures-are-coming/#comments Tue, 03 Apr 2012 01:48:00 +0000 Jeff Tung http://realtyworldsuccess.com/2012/04/02/more-forclosures-are-coming/ Home sales have declined in some areas and its due to high demand, low interest rates and a shortage of homes to buy.  This creates a change in the market place.  Not good for buyers but good for sellers.
Buyers around the bay area are going to be happy to see more homes on the market.  Currently homes that are under $400,000 are experiencing a seller’s market.  Most sellers are receiving multiple offers for their home.  Every home that I have made offers for my clients have had more then 1 offer.  One house in Hayward had 18 to 20 offers.  Another house in San Bruno had 6 offers. My listing in So. San Francisco received 2 offers above the asking price, right after my open house, and 1 was all cash.   My other listing in Pacifica received 8 offers, all over the asking price.  It’s like that all over the Bay Area.  It’s pretty discouraging for buyers today.
Maybe there is some relief coming soon.  There is a shadow inventory due to be release around summer.  I hope this will help the buyers that are trying to get into their home.
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]]> http://jefftung.net/2012/04/02/more-forclosures-are-coming/feed/ 0 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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