San Francisco Market Heating Up
Low inventory and high demand are pushing the local real estate market to the extreme with buyers waiving contingencies, property inspections and even appraisals.
The high end of the market is on fire. The low end of the market is being driven by investors with cash and is also totally out of whack. The middle market, the move-up market is soft because the entry-level homeowners are still underwater.Prices have followed with the average home price now at it’s highest level since June 2010.
What’s next? That’s hard to tell because inventory is incredibly low. We don’t see that changing much in the near future for several reasons.
First, there is not a lot of new home building going on, which is necessary to relieve the pressure.
Second, many existing homeowners aren’t going anywhere. If they have good jobs here, where would they go?
Read the full report here http://www.rereport.com/sf/robb/
Home Search – Determine your Wants and Needs Checklist
Searching for your new home can be a time consuming process, especially if you have not determined in advance the parameters of your search. Take some time to develop your own list of needs and wants, and prioritize them.
Although you may have determined your search parameters in advance, buyers often find that their expectations may get further refined during the search determined by factors such as availability, supply and demand.
You must differentiate between your true needs and what you would like to have, your wants. Once you have a clearer view of what your house will need to have, the next step, actually looking for a home – will be easier for you and your AMSI agent.
Keep in mind, that your budget is a big factor and will impact, which needs, and moreover, which wants, you can actually realize. Get our checklist on how to determine your wants and needs.
For more information about Buying a Home visit http://www.amsires.com/buying_a_home.php