Category archive - Blog

Renting vs. Buying

The Renting vs. Buying comparison is coming more into balance ­ the media have begun noticing this. So, using an excellent online calculator that Residential Pacific Mortgage provides, you can see a sample analysis that you might find useful, comparing $2600 rent to purchasing a $650,000 home with 20% down at a 5.25% interest rate with 1 point. 

 

Very interesting!

 

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San Francisco International Film Festival

The next San Francisco International Film Festival takes place April 23–­May 7, 2009< ?xml:namespace prefix ="" o />

Visit Festival site http://www.sffs.org/sf-intl-film-festival.aspx

Founded in 1957, the San Francisco International Film Festival is the longest-running film festival in the Americas. Held each spring for two weeks, the International is an extraordinary showcase of cinematic discovery and innovation in the country¹s most beautiful city, featuring some 150 films and live events with more than 100 filmmakers in attendance and nearly two dozen awards presented for cinematic excellence. The Festival attracts an annual audience of more than 80,000.

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Pre-Market Opportunities: 4/8/09

These properties are either coming into the MLS in the next few weeks or will not be marketed by the agent in MLS. For an opportunity to view them prior to the rest of the market, please contact me. 

 

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C.A.R. Launches Mortgage Protection Program

To help provide first-time home buyers with peace of mind when purchasing a home, the C.A.R. housing Affordability Fund (C.A.R.H.A.F.) is offering a new mortgage protection program to first-time home buyers. 

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Upcoming Listings

These properties are either coming into the MLS in the next few weeks or will not be marketed by the agent in MLS. For an opportunity to view them prior to the rest of the market, please contact me. There are also a few notes about properties that buyers are looking for – do you have a property to sell?

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RATE UPDATE!

Rates on conforming loans up to $417k and super-conforming loans up to $625k are down about .25% since the big Fed announcement last Wednesday—they were down further but have since retraced. Increases of super-conforming loan limits to $729k have still not been announced by Fannie and Freddie—it’s expected very soon. Rates on Jumbos from $729k to $3.5m are steady.

Last week, the Fed said they’d increase their mortgage bond buying program from $500 billion by June to $1.25 trillion by December. This will help keep rates low because mortgage rates drop when bond prices rise on buying rallies. But consumers shouldn’t assume rates will drop significantly from current levels. Here’s why:
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Hotsheet Statistics for the Past 2-Weeks: SF Houses, Condos & TICs

The market continues to improve for Buyers as inventory increases. For some reason, perhaps just an anomaly, REO sales activity dropped dramatically from the previous 2-week period.

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Online SF Resources

Here are some useful, interesting and/or fun websites for San Francisco and the Bay Area. Hope you enjoy them.

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MLS Statistics for the last two weeks, 2/20/09 – 3/06/09

Comparing the past 2 weeks with the 2-week period, 1/30 – 2/13/09:

The number of new listings coming on the market declined by 20%

The number accepting offers (going contingent sale) increased by 35%

Closed sales went up 75%

Properties coming back on market (i.e. deals falling through) fell by 8%

The number of price reductions—already at very high rates—increased by 18%

Expired and withdrawn listings are relatively stable

26% of house sales were bank-owned properties (REO); 10% of condo sales were REOs


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