My usual topic IS Real Estate, but I just want to ask you...Is there something you would like to read about in this space? What do you look for in a blog? do you want numbers or opinions? or is it something else you would like to know about?
Please share your thoughts with me, I look forward to hearing from you!
Before I go let me just share this article with you...http://money.cnn.com/2009/01/29/news/bailout.fairness.fortune/?postversion=2009012903
Take care,
Realtor Rina
Friday, January 30, 2009
Wednesday, January 14, 2009
A first Shift in the market
I recently read an article in the San Diego Business Journal , according to its author Ned Randolph. The market is starting to turn a corner. How he arrives at this conclusion is by looking at what Sandicor (the local MLS system) is reporting as far as sales for the month of december.
He writes "Citing figures provided by Sandicor’s multiple listing services, the Realtors reported that median prices on houses sold in December increased 2.7 percent from the month before to $349,450. Median prices on attached condos sold in December likewise rose 2.6 percent to $200,000. "
This figure is interesting yet many skeptics would find no problem debating it, to begin it is only one months data it is not yet a trend, although it is an important shift in what we were experiencing. What I consider as an important clue that the market is not as week as it is perceived is the second piece of data he addresses and that coincides with what I have been saying and witnessing as a realtor. He writes "The number of units sold, however, rose by more than 60 percent on the year. There were 2,440 existing homes and condos sold in December, compared to 1,499 homes and condos sold in December 2007, the real estate organization reported" In past blogs I had commented on the fact that some areas of the San Diego Real Estate market did have large inventories however many others had inventories that would actually put them in a "sellers market" position if we go by the traditional Buyer/seller market definition. I am not suggesting that we are in a Sellers market yet , not by a long shot, but perhaps we should take a second look at that definition since we are experiencing a very different market.
I always recommend paying attention to changes as small as they may appear at first, this small signals are what keeps you ahead of the curve, if you wait until changes are reported in the mass media at a larger scale, you are too late to react.
Best,
Rina
He writes "Citing figures provided by Sandicor’s multiple listing services, the Realtors reported that median prices on houses sold in December increased 2.7 percent from the month before to $349,450. Median prices on attached condos sold in December likewise rose 2.6 percent to $200,000. "
This figure is interesting yet many skeptics would find no problem debating it, to begin it is only one months data it is not yet a trend, although it is an important shift in what we were experiencing. What I consider as an important clue that the market is not as week as it is perceived is the second piece of data he addresses and that coincides with what I have been saying and witnessing as a realtor. He writes "The number of units sold, however, rose by more than 60 percent on the year. There were 2,440 existing homes and condos sold in December, compared to 1,499 homes and condos sold in December 2007, the real estate organization reported" In past blogs I had commented on the fact that some areas of the San Diego Real Estate market did have large inventories however many others had inventories that would actually put them in a "sellers market" position if we go by the traditional Buyer/seller market definition. I am not suggesting that we are in a Sellers market yet , not by a long shot, but perhaps we should take a second look at that definition since we are experiencing a very different market.
I always recommend paying attention to changes as small as they may appear at first, this small signals are what keeps you ahead of the curve, if you wait until changes are reported in the mass media at a larger scale, you are too late to react.
Best,
Rina
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