morganhomes: San Carlos Home Sellers Enjoy Multiple Offers Again - 07/17/11 08:11 PM
We culled everything from the San Mateo County Multiple Listing Service for San Carlos home sales in the past six months with a limiting parameter of a minimum price of $998,000 as we wanted to stay away from sales with stimulated financing.
As is apparent from the spreadsheet there are quite a few homes which have sold in the last six months for over the asking price (44%) for on average $54,000 more than seller’s asking price with a high of $187,000 and a low of $2,000 and a median selling point of $46,000 over what the seller was asking.
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morganhomes: Avoiding The Dreaded Doomed House Syndrome - 07/10/11 06:04 PM
The Pitfalls of Over Pricing A Home
Why is that home still on the market? That’s a question many people ask as they drive by the same for sale sign in their neighborhood week after week and sometimes month after month. Why do some homes fly off of the shelf and others languish for months?
Whether or not a particular home sells quickly or not has often little to do with the market and more to do with the presentation of the home—including the pricing. In today’s tech savvy real estate world, home buyers have nearly unfettered access to listing information. … (0 comments)
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morganhomes: Agents can be downright rude! Are you? - 05/23/10 08:13 PM
Ever meet a home buyer who was downright rude? I mean all you're doing is trying to meet these nice folks and they snub you like you're invisible. You know you're the best agent for the job but how do you convey that if people refuse to give you the time of day? Hello-can we at least get some eye contact?
Maybe it's Karma?
I've been selling real estate for almost 20 years now and I have to admit I've been short with a few "Affiliates" in the past. Well last year I had the tables turn. I had the … (9 comments)
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morganhomes: Buyer Incentive Programs - about to phase out (part 1 of 3) - 01/13/10 06:16 PM
With the real estate landscape changing almost daily it’s admittedly hard for Real Estate Agents and Lenders to keep up with all of the new programs and limitations.
Recently, you may have heard on the news or read in the media about the $8,000 tax credit extension for first-time homebuyers. But are you aware you may easily qualify for it and not even know?
Our guess is probably not. That’s because there hasn’t been a great deal of quality reporting on what the income threshold is to qualify; and even if you knew that, what does that translate to in terms of purchase … (0 comments)
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morganhomes: Belmont Home Sales--March 2009 - 04/11/09 03:49 PM
The home sales are in for Belmont for the month of March 2009 and they exhibit all the indications of a continuing declining market. We wrote a short post on what the numbers mean when compared to the same period just a few years back.
This is the same period just twoyears ago...
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morganhomes: Belmont and the Bay Area Peninsula Housing Downturn - 04/11/09 03:31 PM
If you're wondering where the housing market is headed in Belmont you can get a good indication by these two snap shots taken for the month of March 2007 and 2009.
We use 2007 as a benchmark since it was the last year where the impact of the housing crises had not yet been realized in our market.
Here are some startling yet revealing statistics:
The far right column of this chart says it all-every indicator in red illustrates a deterioration of the seller's market which has prevailed for so long.
You may notice that even though larger homes … (0 comments)
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morganhomes: Belmont, Feeling the Chill? - 06/04/08 12:30 PM
It’s official. We’ve had a month of colder than usual weather interrupted only by a four day stint of hotter than usual days in the middle of May. Being one of best months for warm weather, May sure was a disappointment. And now June, notorious for windy conditions is upon us and it’s living up to its historical reputation.
Here are a series of graphs I produced from our weather station located at our home in the Hallmark Area of Belmont which illustrate the last month’s weather pattern:
This graph shows the highs and lows from May 4th to June 4th: … (0 comments)
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morganhomes: Belmont Homes Sales Continue to Outpace California - 06/03/08 06:51 PM
While reports of drastic median price drops continue in the media, isolated areas which are less impacted receive little or no attention. At some point the news should be about areas that are not impacted-why are prices holding up so well when other areas are suffering the greatest set back in years. But those turning to the mass media are clearly missing the whole story. This week, on June 1st, the Open Homes Guide section of the Sunday edition of the San Francisco Chronicle ran the home price closings-for April!
Forget about the fact that they are typically 1 to 1.5 … (0 comments)
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morganhomes: Belmont Needs More Negativity - 05/08/08 04:38 PM
If you’ve been thinking like we have, you're probably wondering when will the weather get a little warmer.
The wind has been relentless this month. Our Davis weather station located at our home in the Hallmark area of Belmont, has been collecting data since we moved from Barclay Way in 2001. We’ve been broadcasting it live since January 2002 and it receives more hits than any of our other web pages each month.
A recent software upgrade has allowed us to extract data for analysis and this is my first graph. It illustrates the wind at time intervals … (0 comments)
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morganhomes: The Numbers Just Don't Jive with Many Buyers' Sentiments... - 04/17/08 06:29 PM
Buyers have bought one thing--that's the media's pounding that home value are falling. Indeed they are in a lot of areas, but if you want to live in San Carlos, CA and are waiting for prices to drop, don't hold your breath too long.
I recenly did this anaylsis for a client who wondered if their home values have dropped. They bought in an excellent area of San Carlos four years ago and paid the then prevailing purchase price in multiple offers of $885,000 for a three bedroom, two bath home which is approximately 1650 square feet.
The follwoing is my brief analysis for … (0 comments)
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