So how does the market look to those of us at Paragon??

Well, open houses have been busier than expected, especially for this time of the year. Often, agents are seeing as many as 40-60 groups of buyers come through homes in every neighborhood, from the Western Addition to Outer Noe to Telegraph Hill.

Many of these buyers are brand new to the market and just beginning to look. With an eye for value, they’re taking a fresh view of the market and often snatching up ‘stale’ listings that have been sitting for awhile—often at exceedingly good prices.

This is also a good time to strike a bargain, since sellers are often more motivated this time of year. No one wants a bunch of strangers traipsing through their home during the holidays, and they’re anxious to move through the marketing period as rapidly as possible so they can settle in with their eggnog and holiday cheer..

This doesn’t mean properties aren’t selling for over asking.. Roughly 70% still go above their listing prices. We are, however, seeing less of a differential between the listing price the selling price. And when there are competing bids, the prices tend to be clumped together, instead of one buyer blowing everyone else out of the water with an unexpectedly high offer.

Finally, just when we thought interest rates were heading up—boom! A drop in the 10-year treasury is leading us to expect an 1/8 of a point reduction in rates. Now may be the time to make your move!

For details on where I think the buys are, call me today and I’ll fill you in. And as always, my emails love to be forwarded. I’m also always delighted to add newbies to my distribution list. So feel free to pass my news on—

This entry was posted on Friday, November 18th, 2005 at 12:00 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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