Signs of a Real Estate Rebound

I am not one of profound wisdom, but I am hearing some positive signs of real estate making a turn around, a turn around for the better! Basically, the thinking goes like this, “Hmmm, real estate values are down, not only do I still have my job but I have some cash sitting around, and rates are very low – and may not go lower. So maybe I will stop renting and buy a place (or pick up that non-owner occupied property, or that vacation home), or at least see what is out there.” The market will tell you that at some price, there is a buyer for everything.

San Francisco, the San Mateo Peninsula, East Bay and South Bay are experiencing a surge in homebuyers who are jumping off the fence to try and get their hands on property that they could have only wished they could afford a few years ago. Check out the news link below to see what I’m talking about!

http://cbs5.com/business/real.estate.sales.2.956968.html

 

Here’s another example:

San Bruno 2 bedroom/ 1 bath

Listed at $344,900 just went pending with approximately 20 offers!!

The Real Estate Therapist is “IN”

 

Real estate therapy for the home buyer, home seller and home owner is a pretty common request these days. Some of the most frequently asked questions start  from what the current value of a home is in order to make a decent offer or sale to how one could lower their property taxes. It’s a different market out there in real estate but there are some interesting things going on!

What is the current value of the home you are placing a bid on anyways?We got Zillow telling us one thing and the seller telling us another! It’s tough to come up with decent comparables in some cases where there hasn’t been a sale in months. We know that the value has dropped but what should we base our offer on? In many cases we have to base the offering price on comparable “active” properties. We have to check how long these homes have been on the market and if they have had any activity! Comparing the “active” homes and their condition, square footage, and location should help determine the current vale of a home in this market. This is also helpful information for people trying to sell.

How can I lower my property taxes? There is buzz all over town about lowering our property taxes and the good thing is, is you CAN! All it takes is filling out one form with the current value of your home compared to the “higher” price you purchased it for along with some handy recent comparable sales that you get from your Realtor. This package is turned in to your county recorders office and put to review. This could save you hundreds of dollars per year!