Wednesday, January 06, 2010

Things Looking Up--if only a little:

Well, things are continuing to show signs of hope in the housing market. The latest monthly Case-Shiller Housing Report showed value increases in most of the 20 metropolitan areas it covers. The two that rose the most were San Francisco and Phoenix. As these are metropolitan areas, the SF figures include those here in Marin--a positive sign for sure. However, don't go looking for any return to values of late 2005 and 2006 any time soon. There's still a number of hurdles to get over. These include continuing unemployment (though a tiny bit better this month) and the 'shadow' inventory of foreclosed homes that the banks are holding and have yet to market. How, when and in what numbers these hit the market could have a major effect on the market.
However, the combined increases in values, sales and the extended first time buyer credit all point in the right direction.
If you have any questions about the market, buy or sell, give us a call! We'd be happy to help.
Happy New Year!
Peter & Jane


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