
Jane Ivory
GRI, ePro, Broker Associate, A Top Producer
(415) 321-3103
jivory@hill-co.com
www.janeivory.com
Go to SanFranciscoHomeWorth.com for Free Informative Reports For Buyers And Sellers!
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A Quick Note
The Wall Street Journal published a piece saying that a growing number of homeowners are choosing to pay their mortgages at a faster rate. In recent months 26% of homeowners who refinanced chose a 15-year fixed-rate mortgage.
In the article, Bob Walters, chief economist with Quicken Loans, explains those who choose 15-year fixed-rate mortgages tend to be older and have more equity and less debt than others. They also earn higher incomes and don't have some of the added expenses that younger homeowners typically do.
Mr. Walters said, "Homeowners are doing the math and realizing that rates have fallen enough so that the increase in payment between a new 15-year mortgage and their current loan is no longer unbearable to the their budgets."
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Market Update for San Francisco*
08/16/2010 - 08/23/2010
Single Family Homes - 37 Sold
· Median Sale Price: $800,000
· 11 Sold OVER Asking Price
· 22 Sold UNDER Asking Price
· 4 Sold AT Asking Price
· There are currently 998 Single Family Homes on the market
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Condos/Lofts/TIC's - 36 Sold
· Median Sale Price: $675,000
· 9 Sold OVER Asking Price
· 20 Sold UNDER Asking Price
· 7 Sold AT Asking Price
· There are currently 1338 Condos/Lofts/TIC's on the market
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*Source: San Francisco Association of Realtors® |
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Mortgage Rates
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