May 2008

There are 7 blog entries for May 2008.

Its very exciting. Blu has finally opened their doors for us to see what the buzz has been about. Is it true, come see for yourself. Call to make an appt. at 415.205.3899.  Pictures to come.

Prices range from $739,800 for a low floor “E” plan to $3.395M for the “A” penthouse with panoramic views West, North and East.

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This Week in Mortgage Sports

$4 Gas And How Does That Effect Us?

I do a lot of driving, and I love the freedom of having my own car, but I must say I do no where near as much driving as some of my Real Estate friends.  Previewing homes, showing homes, and all the other mobile tasks of an agent are proving to be more expensive at $4/ gallon.  Many agents are relying more and more on the Internet for their previewing and narrowing of prospective homes.  Finding cost saving tools can be difficult in a tangible industry where clients do actually need to visit a home before making a decision.  Challenging times indeed.

Let's look at this
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Paragon Market Report: San Francisco Home Sales 1

st Quarter 2008 vs. 1st Quarter 2007

Comparing 1st Qtr 08 to 1st Qtr 07, the number of home sold in San Francisco decreased about 27%, with properties below $1,000,000—condos in particular—showing the largest drop. The lower end of the SF housing market—to a large degree fueled by first-time buyers—has been the most affected by market upheaval and new financing conditions. The middle price range, $1,000,000 to $1,999,999, showed a much smaller decrease, while sales of $2,000,000 and above actually increased. See charts on later pages.

Median days-on-market for all houses and condos sold barely changed (37 days in 07 vs. 36 in 08), but for homes on the market, days-on-market increased by

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If you are looking for a home in Cleveland Heights but have shied away due to the high taxes read on…


The Bluestone Community, on of the city’s newest and most luxurious spots is working vigorously to finish the first condo phase of the project.  If you are driving down Mayfield by South Taylor you might have noticed this building going up.


For anyone working in the University Circle district, you can’t beat the location and the best part is you can live in Cleveland Heights but only be responsible for half the taxes because of the tax abatement Bluestone and the city offer.  That means you can take advantage of all the wonderful community attributes for half the price and be a five minute drive from The Circle!


I will be planning a

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What a great first quarter to 2008 we are having at in Cleveland!!!!


Sorry I have been away from the blog for a little while, for you avid readers.


We have been having a steady flow of out-of-towners coming into Cleveland and ready to buy over the past few months, which is terrific.  Funny thing is, when talking to these people, what I don’t hear is what a depressed market it is and how we are going into a recession and how the world is ending…


What I do hear is that people see the beginnings of something truly special happening in Cleveland and they want a piece of it!  Seems like the only people who are preaching the negative are my fellow Clevelander’s.  Come on people!  Its time for a change in our belief system,

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Fixed and ARM rates are roughly even after last week’s Fed meeting and better than expected jobs report. Mortgage rates dropped about .125% after the FOMC cut the Fed-to-bank Discount rate by .25% to 2.25% and cut the bank-to-bank Fed Funds Rate by .25% to 2%. This was the first time after the last six Fed cuts that mortgage rates actually dropped. After the five Fed cuts previous to April 30, mortgage rates rose because markets were expecting more. This Fed move and their statement seemed to be exactly what markets were expecting: .25% cuts and an indication that we’re near the end of the cut cycle. As for jobs, markets were expecting that 75,000 jobs were lost but only 20,000 jobs were lost. Mortgage bonds sold off on this news and pushed rates back

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