market report: Bay Area Market Watch--September 24,2007 - 09/24/07 08:34 AM
Many of the real estate stories you may be hearing are dealing with national or statewide issues and do not reflect our local market. That doesn't mean that the overall housing picture doesn't affect our market-it does. The perception of a declining market is all it takes to create one. As optimistic as homeowners are about the value of their homes, we believe that somewhere in the back of their minds there's a nagging uncertainty of future valuation and a realization that at some point the run up in real estate values will come to an end. And of course it … (0 comments)

market report: San Mateo County Inventory Levels 2004-August 2007 - 09/23/07 09:05 PM
Inventory levels are rising to the highest level in at least the last four years as anxious buyers put off purchasing their first home. Clearly this is an indication of a market slow down or pull back. How long it will last and how it affects the median price is yet to be seen.  
 
 
Drew & Christine Morgan Morganhomes.com
Visit our Blog at BeautifulMountainBlog.org
Disclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this response in tended to be specific to your situation-consult a specialist for your specific situation.
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market report: San MAteo County Sales-2004-August 2007 - 09/23/07 08:58 PM
This graph which show3s the sales in San Mateo County through August of 1997 exemplifies the waning sales since last year. In fact, sales are almost down 50% over 2004. Many buyers are waiting for better interest rates (although they currently are near historical lows and others simply cannot afford a home as only 10% of the Bay Area first time buyers can afford the median priced home.
Drew & Christine Morgan Morganhomes.com
Visit our Blog at BeautifulMountainBlog.org
Disclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this response in tended to be specific to … (0 comments)

market report: Belmont Inventory Levels-August 2007 - 09/23/07 08:37 PM
Here we see Belmont's inventory levels while higher than recent times, still within acceptable levels indicating a modest economy and housing future. Inventory or the number of homes for sale directly impacts selling prices if demands is stable. Inventory can grow simply because buyers are not buying homes or more homes are coming on the market. In this case, it's a case of fewer buyers (less sales) since the number of new listings is within acceptable and customary range.
Drew & Christine Morgan Morganhomes.com
Visit our Blog at BeautifulMountain Blog.org
Disclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate … (0 comments)

market report: Belmont Median Price Trend & Inventory Levels 2004-2007 - 09/23/07 08:25 PM
This graph shows sales for the last the last four years for Belmont, California. It's interesting to note that even with higher inventory levels, the median price is till holding along the trend-line where it would be calculated to be based upon past trends, The third quarter ending period in September should add more valuable data to help understand if in deed the market forces are beginning to impact not just sales and inventory, put selling priced as well.
 
 
You can read more abou these grahs for Belnt and other openineuals cities on our web page at morganhomes.com
Also, visit our Belmont Blog … (0 comments)

market report: Which end is up? or Understanding Our Housing Market - 09/21/07 10:45 AM
Which end is up? or Understanding Our Housing Market
Part 1 of a 2 part series
"Reports of my death are greatly exaggerated"-- Mark Twain quotation after hearing that his obituary had been published in the New York Journal.
The same might be true for the real estate market in the Bay Area. While everyday there's some piece of news about the Bay Area's real Estate market, many of it is focused to capture your attention in a sensational way and does little to offer insight and discussion.
Since no two markets are identical it's difficult to say where this one will end up. But … (1 comments)

market report: The Writing Was On The Wall - 09/21/07 10:40 AM
The Writing was on the Wall
Addendum to Part 1 of a 2 part series--"Which End is Up" or Understanding Our Housing Market"
Historically low interest rates, low cost housing availability across the country, investors hungry to reap a return after the dot com crash all set the stage for an overactive interest in housing as an investment.
There are really three distinct factors which played into the current market conditions across the county. The first is the sub-prime market. Essentially, these are loans which are made to folks who otherwise could not qualify for an "A" paper loan-usually that means low credit … (0 comments)

market report: Opportunities In An Emerging Market - 09/21/07 10:30 AM
Part II of a Two Part series
Part 1 "Which End Is Up" or "Understanding Our Housing Market"
Opportunities in an Emerging Market
There are always opportunities in any market. As in the stock market where you can profit on a given stock whether it is going up or down depending on the position you hold, real estate also has it's opportunities in a changing market.
It has been a seller's market for years. So where are all the buyers now? Clearly the interest rates have increased making homeownership more expensive, but that can't account for the current market pull back we're experiencing. Certainly some … (0 comments)

market report: When is the Best Time To Sell A Home (Part Five of Five) - 08/28/07 08:59 AM
When is the Best time to sell a home? (Part five of five).
If you've read parts one though four of our series, you undoubtedly know by now that there are many factors affecting the real estate market.
Understanding your particular area's local market conditions and fluctuations will assist you in finding the best time for you to sell your home.
In our home town of Belmont for example, just before spring, the winter inventory of homes for sale is typically low; but crescendos through spring into summer. Getting a jump of your competition can be rewarding. This is illustrated in the graph which shows … (2 comments)

market report: San Mateo County Market Report 1998-2007 Inventory & Price Received - 08/28/07 08:25 AM
With Indian summers blessing the Bay Area and Belmont in particular, great weather embraces us late into the fall buoying the house hunting season beyond traditional markets. After Labor Day, once the summer vacations are behind and children back in school, the market takes another bounce up as more inventory appears and buyers wishing to make a move before the end of the year are once again more focused. Notice how there's a summer "bounce" as market activity typical increases this time of year?
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market report: San Mateo County Median Price and Percent Received Market Trends 1998-2007 - 08/28/07 07:41 AM
It becomes pretty clear that historically, listing your home in late winter or early spring in the Bay Area will brings you the most market activity. Notice that the percentage a seller receives and the median home price is highest usually around June. Remember though-June sales were from homes listed in April and May.
Most sellers do not want to sell their home during the holiday season. The market slow down generally starts around Thanksgiving and activity wanes though the end of December. This is usually the slowest time with few buyers focused on shopping for a home, and the sellers who … (0 comments)

market report: When is the Best Time to Sell a Home? (part four of five parts) - 08/18/07 02:59 PM
n part four of our five part series on "When is the Best Time to Sell A Home" we examine some of the broader national issues which affect the overall atmosphere of home buying and selling.
Jobs
When people feel secure about their jobs they are willing to take on more debt. But that's not the whole story. When more jobs are being created (and filled) in an area than are exiting, and the supply of available homes can no longer keep up with demand, there's competition for housing. A good indicator of where your local housing market may be headed is watching … (0 comments)

market report: What's The Best Time To Sell A Home? (Part Two of Five) - 08/18/07 02:30 PM
eal estate is best examined on a local scale since a rapid sell-off in south Florida, or falling values in San Diego can have little bearing on what a home is worth at any given point in your neighborhood.
Although it is best to focus on your local area, keeping an eye on the big picture is prudent.
In part two of our five part series on "When is the Best Time to Sell A Home" we examine some of the broader national issues which affect the overall atmosphere of home buying and selling.
Interest Rates and the Availability of Mortgage Money
To begin to … (0 comments)

market report: When is the Best Time To Sell A Home? (part Three of Five) - 08/18/07 02:29 PM
Consumer Confidence
 
n part three of our five part series on "When is the Best Time to Sell A Home" we examine some of the broader national issues which affect the overall atmosphere of home buying and selling.
The confidence of consumers is critical to trade. The "Consumer Confidence" report  is a measurement taken by the Conference Board, an independent not-for-profit organization who polls 5,000 representative U.S. households; it's bit like taking the pulse of the average consumer. Of course when consumer confidence is high-or rising-buyers tend to be more bullish. The effect that the release of these numbers has is a bit … (0 comments)

market report: Belmont-Sales (July 2007) - 08/12/07 01:30 PM
Sales of resale homes in Belmont have declined this year as mortgage rates have increased. Surprisingly, inventory levels have not reached threshold conditions enough to put downward pressure on pricing to any large extent. Fewer sales can be the simple result of having fewer homes for sale (low inventory). This can have the effect of raising prices as buyer compete for relatively small inventory. Fewer sales can also be attributed in the case where large inventory exists to buyers simply deciding not to purchase a home. Examining the "Days on market" and "Percent a Seller Receives" graph can help explain which is the current market condition.
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market report: Belmont_Median Price (July 2007) - 08/12/07 01:25 PM
Belmont's median price took a dip in July but is well within the normal real estate cycle. Small samples such as the town of Belmont are better examined year-over-year since the sale of higher priced homes in one month can skew the results.
The Median price trendline is illustrating where the median price should be if it continued an averaged climb based on prior performance. Note that while it takes some wild swings up and down above and below the trend line, overall, the trend has remained up for years.
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market report: Belmont Inventory Levels (July 2007) - 08/12/07 01:11 PM
The inventory levels in Belmont are still well within reason to sustain current pricing levels and currently do not indicate a "fire sale" mentality on the part of sellers.
While inventory levels fluctuate wildly, the median price continues a somewhat steady climb. Mid-year cyclical inventory levels change as holidays, vacations and even inclement weather impact a seller's ideal time to list their home for sale. Sharp increases in inventory--those which are caused by a decrease in demand--have the most impact on what a seller might receive for their home--not seasonal levels. Notice the impact the World Trade center attacks of September … (2 comments)

market report: Belmont California-Percent of Asking Price Received July 2007 - 08/12/07 01:03 PM
This graph illustrates the average price a seller received for their home in Belmont through July of 2007 as contrasted to prior years. As you can see, the local current market is still quite active. The numbers are not in for August, but they should provide an excellent indication of the impact the recent mortgage industry woes are having. … (0 comments)

market report: When's The Best Time To Sell A Home (part 2) - 08/12/07 12:53 PM
Drew & Christine Morgan
"Helping People Make Good Decisions"sm
Part 1 of a five part series on "When is The Best Time To Sell Your Home
 
Interest rates and the Availability of Mortgage Money
Interest rates and the availability of mortgage money have a direct bearing on home values and sales. This is especially true when they are in flux. When interest rates remain low, as they have for the past several years, it sets the stage for more homes sales. Simply put, it's more affordable to own a home and so more people opt to purchase one. Beyond the affordability index, is the perception … (2 comments)

market report: When’s The Best Time to Sell a Home? (Part one of a five part series) - 08/12/07 12:47 PM
 Drew & Christine Morgan-Belmont Real Estate
"Helping People Make Good Decisions"sm
Introduction:
Welcome to the introduction of our five part series on when is the best time to sell a home. We'll examine issues that affect home values and selling opportunties on a macro level, and then provide detailed information for our market sector. We hope you enjoy the series.
When's The Best Time to Sell a Home? That simple question is one of the most frequently asked when we meet a seller. Unfortunately, the answer is not as easy.
There are many factors which may influence your local market and having the data certainly helps one … (1 comments)