Arn Cenedella

Archive for the 'Mountain View real estate' Category

Mountain View Real Estate Update 4/19/09

Here are this week’s numbers:

13 new listings in Mountain View this week.

8 new pending sales in Mountain View this week.

88 current available listings in Mountain View.

34 pending sales in Mountain View.

38.6% pending ratio

Mountain View Real Estate Update 4/12/09

Mountain View Real Estate Update 4/5/09

Mountain View Real Estate Update 3/29/09

Moutain View Real Estate 3/22/09

Mountain View Real Estate Update 3/15/09

Mountain View Real Estate Update 3/6/09

Mountain View Real Estate Update 2/27/09

Mountain View Real Estate Update 4/12/09

Here are this week’s numbers:

7 new listings in Mountain View this week.

5 new pending sales in Mountain View this week.

85 current available listings in Mountain View.

35 pending sales in Mountain View.

41.1% pending ratio

Mountain View Real Estate Update 4/5/09

Mountain View Real Estate Update 3/29/09

Moutain View Real Estate 3/22/09

Mountain View Real Estate Update 3/15/09

Mountain View Real Estate Update 3/6/09

Mountain View Real Estate Update 2/27/09

Mountain View Real Estate Update 4/5/09

Here are this week’s numbers:

14 new listings in Mountain View this week.

7 new pending sales in Mountain View this week.

83 current available listings in Mountain View.

33 pending sales in Mountain View.

39.7% pending ratio

Mountain View Real Estate Update 3/29/09

Moutain View Real Estate 3/22/09

Mountain View Real Estate Update 3/15/09

Mountain View Real Estate Update 3/6/09

Mountain View Real Estate Update 2/27/09

Mountain View Real Estate Update 3/29/09

Here are this week’s numbers:

8 new listings in Mountain View this week.

6 new pending sales in Mountain View this week.

83 current available listings in Mountain View.

28 pending sales in Mountain View.

33.3% pending ratio

Moutain View Real Estate 3/22/09

Mountain View Real Estate Update 3/15/09

Mountain View Real Estate Update 3/6/09

Mountain View Real Estate Update 2/27/09

Move up buyers stay home while 1st time buyers enter market

Teresa Boardman of St Paul Real Estate – ps she is a great photographer – recently wrote a post about “move-up” buyers in her market want to buy but since they existing home is underwater they can not sell their existing home. Hence they are unable to buy.
Many of her comments about the entry level being the strongest portion of the market with the “move-up” market being very slow or non-existent applies to the market on the San Francisco Peninsula.
Many first-time buyers are getting into the market – taking advantage of lower prices, very low rates and tax credits. Most sales are at the low end of the price spectrum with foreclosure REOs being a large percentage of all current sales. Hence median and average prices continue to go down.
The “move-up” buyer is sitting on the fence. Unlike your area, it is NOT because these potential “move-up” buyers are “under water” but rather they do not have confidence in the economy or the market to make a move-up in a market where moving up means selling for $1.5M and buying for $2M. These folks are just not interested in taking on $500K in additional debt when things look very uncertain. In addition since the price of their home has dropped, they may no longer have enough equity in their current home to put the 20% to 25% down needed to buy and finance their new home with a jumbo mortgage. So they are not “underwater” but lack the down payment to buy the larger house. I believe the “fear” factor is the bigger issue but lack of equity to make the downpayment on their purchase also contributes to the lack of activity in the move-up market.
Arn

Mountain View Real Estate Update 3/22/09

Here are this week’s numbers:

8 new listings in Mountain View this week.

9 new pending sales in Mountain View this week.

87 current available listings in Mountain View.

25 pending sales in Mountain View.

29% pending ratio

Mountain View Real Estate Update 3/15/09

Mountain View Real Estate Update 3/6/09

Mountain View Real Estate Update 2/27/09

Mountain View Real Estate Update 3/15/09

Here is this week’s update:

6 new listings this week in Mt. View

7 new pending sales this week in Mt. View

91 current active listings in Mt. View

22 current pending sales in Mt. View

Mt. View update 3/7/09

Mt. View update 2/27/09

Mountain View Real Estate Updated Friday 3/6/09

Last week’s numbers were:

7 new listings this week in Mountain View

2 new pending sales this week in Mountain View

83 active listings currently in Mountain View

18 pending sales currently in Mountain View

This week’s numbers are:

12 new listings this week in Mountain View

1 new pending sales this week in Mountain View

88 active listings currently in Mountain View

17 pending sales currently in Mountain View

Is it a good time to buy?

That is the $64Million question on many folks’ minds.

Here is my “take”:
In my San Francisco Peninsula market, I would say:
Are there good values to be found? Yes.
Are we at botttom? Probably not. I expect contiuned downward pressure on prices. (In most San Francisco Peninsula cites, values are down maybe 10% to 20% from the peak in 06/07)
Is it a good time to buy? Yes: 1)  if you find a house you  really like  in the community where you want to put down roots 2) you have a long-term perspective – say 10 years and 3) your job situtation is pretty stable and 4) you buy comfortably within your financial means – this is not the time to stretch.

Jay Thompson The Phoenix Real Estate Guy provides a similar perspective on the Phoenix market which has been hit much much harder than our own market.

What say you?

What do my Homescopes blog buddies around Northen California have to say?

Mountain View Real Estate Friday Updated 2/27/09

7 new listings this week in Mountain View

2 new pending sales this week in Mountain View

83 active listings currently in Mountain View

18 pending sales currently in Mountain View