November 2008

There are 7 blog entries for November 2008.

Time is running out to take advantage of the $7500 tax credit for first time home buyers!  If you have been thinking about purchasing your first home and the extremely low prices and great opportunities aren't enough for you, this $7500 tax credit should do it.  The buying process can often take many months though and you DEFINITELY don't want to let this pass you by. 

Call me for details, I will be happy to answer all of your questions and help you get started today!

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Selected Districts, Comparing Sales for the 30 days ending 11/17/08 with the 30 days ending 11/17/07

In the Sunset/Parkside district (District 2), the number of house sales and the median sales price was virtually unchanged year to year.

In the Bayview/Excelsior/Crocker Amazon districts (3 & 10), the number of house sales increased 27% while the median sales price declined 19%. Average dollar per square foot declined to $462/sq.ft., a decline of 13% from 2007.

In the Noe Valley/Castro Valley/Haight district (5), house sales declined 59%, while the average dollar per square foot increased to $823/sq.ft., a 9% rise from 2007.

In the Pacific & Presidio Heights/Marina/Cow Hollow district (7), condo sales decreased 50%, and the average dollar per

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This Week in Mortgage Sports

Dallas Home Foreclosures

North Texasforeclosures peaked in February and are bucking the national trend.  In fact they appear to have flattened out (hit bottom).  Many buyers out there believe there are tremendous deals to be had.  There still may be a few of those left, but not as many as in other markets.  Our buyers should be looking for homes they love and want to live in for many years rather than trying to time the market.  The only way to know when a market has hit bottom is when it’s too late... Read More

Texas Should Be RED-HOT Next Spring?

Star AwardThis presentation has a TON of great information, but my favorite line is the last one.  Enjoy... 

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Declining Local Inventory

Per Steve

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Fixed and ARM rates for loans up to $729k are even since last week, ending several weeks of .5% price swings. Rates on loans from $729k to $1m are also about even. Rates on loans above $1m are not shown below because that pricing is truly custom based on client profiles.

Only a few lenders have announced rates for the new super-conforming tier which will cap at $625,500 rather than $729,750 as of January 1. So far it looks like loans up to $417k will be about .25% cheaper than loans up to $625k.

For loans above $625,500, here are three things to watch for in the coming months: (1) by December 7, we find out if any appeals for higher super-conforming loan limits by region were successful, (2) there’s much talk of a new economic stimulus package that

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Fixed and ARM rates for loans up to $729k are down about .5% from two weeks ago, which continues a weekly .375% to .5% up/down trend for the past few months. Rates on loans above $729k are consistent because they continue to be priced more on lenders’ willingness to lend than on market forces. Super-conforming loans up to $729k will be phased out between now and December 31 because all lenders—big or small—who make these loans must sell these loans to Fannie Mae or Freddie Mac by December 31.

Most lenders are phasing out high-limit conforming loans by November 20, meaning borrowers must submit a loan today to close it by November 20. If it’s not in by today, borrowers need to go to the next option (because most banks are closed Tuesday 11/11 for

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With election season finally over and most things decided, we can now focus on what the candidates laid out as their plans for a “re-birth” in America.


One term you kept hearing during the campaign was “infrastructure.”  Another couple words were “alternative fuel” and “technology based jobs” to research and discover that alternative fuel.  I mention this because we are hearing about and seeing this region shift in its economic capacity.  We are shifting from the “rust belt” to the “tech belt.”  


So I go back to the candidates and what they promised.  If this country has a strong push toward technology over the next ten years and our region can get a jump start on bidding for that federal tax money, that can only mean good things for our

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