Friday, February 25, 2011

Well, we're still in something of the classic economic two/three step dance. You know the one: take three steps forward, then take two back. Eventually, assuming nothing cataclysmic in the meantime, you get where you want to. The housing market(and the economy, which affects the housing market) are doing just that.
Yes, things are apparently slowly getting better. But not in any great hurry. On the good side, new jobless claims dropped by a larger number than experts expected. That's good, because if someone's working, they're more likely to qualify for a loan and buy a home.
On the negative, the monthly Case-Shiller came out at the end of last week and showed the lowest level of value nationally since 2006. However, what's good for those of us here in Marin is that the report covers 20 metro areas, SF being one. While most areas dropped in value, many up to 20%, the SF area showed what was basically a flat reading. True, we dropped 0.6% in values, but, given the overall scheme of things, that's a truly flat reading, and bodes well compared to much of the rest of the country. Rates are still in the low 5's. So, as I've said before, if you're a seller, all of this means there are more folks able to buy. You should take advantage and get your home on the market--like NOW! If you're a buyer, with rates where they are, get moving! Call your lender or broker and get that loan approved! Then call us for help in buying a home!


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