Doug's thoughts on today's market, interrupted occasionally by me:
Birthday Boy
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Market Buzz
Suspicious Comps
The comps haven't mattered much during our frenzied market. But with things settling down a bit, we might see comps matter more. In March, we discussed who pays more than they should, and why: https://www.bubbleinfo.com/2015/03/04/verifying-comps/ Today, let's point...
NSDCC Months’ of Inventory
These guys are making the pitch for why potential sellers should list their home (with Jim) and sell now, using NAR stats that show foot traffic is up, and inventory is down: http://www.keepingcurrentmatters.com/2015/06/29/two-graphs-that-scream-list-your-house-today/...
Underpricing on Purpose
From sfgate.com: http://www.sfchronicle.com/business/networth/article/SF-home-buying-insanity-means-paying-1-6347687.php Bravo’s reality show “Million Dollar Listing San Francisco” debuts July 8, but I already have an idea for a spinoff — “Million Dollar Over...
Local Trends
Have you seen how some of the list prices have gone ballistic lately? You can see above how the red 'Sold' price-per-sf trend line has been increasing moderately, but the 90-day average list pricing has taken off over the last few months (in blue). What is causing the...
Market Impulse
The California Association of Realtors does a phone survey every month of 300 realtors (there are more than 250,000 licensees in the state). They don't offer any analysis on what their data means, or how to digest it - just the results:...
Staging Benefits
Visitors to today's open house were very complimentary about the staging, and it does assist those who have trouble visualizing how to furnish a house. The next-door neighbor at first wondered why we didn't stage it sooner, but then mentioned that he doesn't...
California Home Sales in May
The state is cooking! She brings up a good point - it might be hotter if there was more to sell: California home sales softened in May, but the housing market momentum continued to be solid as the spring home-buying season marked higher year-over-year home sales and...
More Market Pulse
From cnbc: http://www.cnbc.com/id/102614420 The biggest barrier to a more robust spring housing market is simply a lack of listings, and there may be even fewer than we think, at least fewer homes people want to buy. Nearly three-quarters of the homes on the market...
NSDCC Could Be Hotter
With all the recent action mentioned in the previous post, it makes you wonder how much the market is fueled by frustration over the selection of homes for sale. Yes, it is the "season", but is the lack of inventory causing buyers to grab anything, at any price? More...
