PRE-FORECLOSURE: This refers to the period after the lender has filed the original complaint and filed a lis pendens on the property indicating the intent to foreclose. … FORECLOSURE is the legal process in which a bank or lender sells or repossesses a parcel of real property after the owner has failed to comply with an agreement between the lender and borrower.
(more...)Well, that’s a good question and here’s one answer: You can get a great amount of work for your money and increase your ROI by taking advantage of the current economy and a new approach to home renovation. … People are spending more time in their homes and are spending money improving what they have; there is more of a “stay in” rather than “go out” mentality.
(more...)Generally speaking, 4-5 months supply of inventory is considered a balanced market between buyers and sellers; less than 4 months is considered a sellers’ market; and more than 5 months is considered a buyers’ market. By these definitions (as well as others), the home market in many of San Francisco’s neighborhoods is now a strong buyers’ market – which means more choice, less competitive bidding, increased price reductions, more price negotiation.
(more...)At current trends, over the next month: • 563 active SFD listings will be joined by over 250 new SFD listings for a total of over 800: less than 1 out of 8 will go contingent sale (and most of them at the low end). • 674 active Condo listings will be joined by over 350 new Condo listings for a total of over 1000: less than 1 out of 10 will go contingent . • 241 active TIC listings will be joined by over 150 new TIC listings for a total of about 400: about 1 in 16 will go contingent. • 234 2-4 Unit listings will be joined by over 80 new 2-4 U listings for a total of over 300: about 1 in 19 will go contingent .
(more...)Carmichael said that in California’s foreclosure-plagued Inland Empire, Riverside and San Bernardino counties east of Los Angeles, the average monthly rent for an apartment is $1,157 and the average after-tax monthly mortgage payment on a median-priced single-family detached home is $1,154 — and is projected to decline to $979 by mid-year. … Existing home sales across the United States rose 6.5 percent to an annual rate of 4.74 million units in December from a rate of 4.45 million in November, a National Association of Realtors report showed on Monday.
(more...)Comparison of SF House, Condo and TIC sales 10/15/08 – 1/30/09 with one year earlier by price range
… Total # of Sales: down 27% – 30%* Total Dollar Volume: down 43% – 46%*
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