Borrowing this from Rob's blog, this is known as Amara’s Law in technology spheres. It goes: “We tend to overestimate the effect of a technology in the short run and underestimate the effect in the long run.” When the zestimates first came out in 2006, their accuracy...
The presidential election is less than 60 days away and even if one of the candidates is a clear winner at Tuesday's debate, the fight will get nasty from here on out. The distraction is likely to cause potential home buyers to want to wait-and-see. Thankfully, the...
Can we learn about what to expect in 2025 by reviewing the other recent metrics available? Here are alternative ways to gauge the market conditions - the most interesting numbers in red: Number of Sales - Just incredible that out of nowhere the July sales set the high...
During the frenzy there were months where 70% to 80% of the sales were closing over their list price. Recently it's been down to around 25% of the buyers paid over the list price. How many paid under? We're in an affluent area so let's get our money's worth. How many...
Here's why home buyers should be optimistic - as demand falls off, it will probably be a wide-open playing field for the rest of 2024! No seller is going to be dumping on price though, especially the sellers of the better homes that you want to buy. You gotta be able...
Mortgage rates plummeted yesterday, making people wonder if the housing market will perk up for the rest of 2024. Getting a lower rate will be a nice sweetener, but buyers aren't going to overpay just because their payment went down a couple of bucks. Just the...
I've been sitting on this photo for about ten years so it's about time! The vice president and I have things in common. We were both born in Oakland and she got her start at the same place my grandfather did. Her law career began in 1990 at the Alameda County's...
The other real estate reality shows are so full of drama that they are barely watchable. While they do pack some drama into Ryan's new show, Owning Manhattan on Netflix, they mix in a few examples of him doing a masterful job of negotiating between agents and...
I was on a national sales call yesterday where agents from coast-to-coast were complaining about how bad their market is currently. I kept thinking, "It's nothing price won't fix!" Instead, the common fallacy that 'it just takes longer to sell a home' will prevail....
San Diego is already an affluent market, and with the extreme weather conditions now affecting the rest of the country year-round, we have to look like a fantastic upgrade to people who just came into some big money. From Leonard Steinberg, the Compass chief...
