Cindy Lynch
(415) 321-4291
clynch@hill-co.com
www.CindyLynchHomes.com
If you have any questions about anything you see in this newsletter, or about real estate in general, please be sure to contact me. I am here to assist you in any way I can. And naturally, should you, your family or your acquaintances require real estate representation, I hope you'll keep me in mind.
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A Quick Note
San Francisco home and condo sales rose last week to respectable numbers, after being soft for sometime. Open homes have been well attended for weeks, so it's no surprise that sales volume is up. If anything, it's surprising that it took so long.
It's perhaps safe to say that we are entering a busy time, as Spring is just around the corner. In fact, last week, a one million dollar plus home represented by Hill & Co. received 16 offers. That is a clear sign that buyers are getting serious about making a purchase.
By the way, don't forget that Daylight Saving Time begins this Sunday, March 14. Unfortunately, that means you're going to lose an hour of sleep, as 2 a.m.jumps forward to 3 a.m. But take comfort in knowing it will stay lighter later.
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Market Update for San Francisco*
02/22/2010 - 03/01/2010
Single Family Homes - 41 Sold
· Median Sale Price: $697,500
· 24 Sold OVER Asking Price
· 15 Sold UNDER Asking Price
· 2 Sold AT Asking Price
· There are currently 839 Single Family Homes on the market
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Condos/Lofts/TIC's - 50 Sold
· Median Sale Price: $650,000
· 11 Sold OVER Asking Price
· 26 Sold UNDER Asking Price
· 13 Sold AT Asking Price
· There are currently 1168 Condos/Lofts/TIC's on the market
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*Source: San Francisco Association of Realtors® |
Mortgage Update
Interest rates have generally dropped slightly over the last couple of months in spite of some reports that rates will rise. In addition, the Fed has also stated several times that it has no intention of letting interest rates rise on mortgages, and that it will use the tools at its disposal to keep rates low. All of this is good news for consumers and most experts agree that interest rates will remain low for the rest of this year. With home prices starting to rise and interest rates being near all time lows, this is an excellent time to purchase a new home.
This Mortgage Update was provided courtesy of Miles Grant, with Guarantee Mortgage. You can contact him at Miles@MGrantFunding.com for more information.
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Mortgage Rates
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