Real Estate 411: November 2005 Archives

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November 20, 2005

Buyer's Market Gains Steam

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Buyer's Market Gains Steam

- by Jeff Hoffman

With each passing week my prognostications about the local real estate market are proving to be right on the mark.

A few days ago the Sacramento Bee's real estate columnist Andrew LePage confirmed what I've been telling my seller clients since May 11th, that the market is correcting quickly. The large gift of equity that we've all been given over the past 3+ years is in the process of being whittled away.

The article reports "When it comes to home-buying, sellers in the Sacramento region appear to have lost the upper hand, across all price categories...the result is that sellers have significantly less negotiating power than they did just a few months ago - even for lower-cost starter homes. TrendGraphix reports there are no price ranges in any of the region's four counties that favor sellers, based on the time it would take to sell all the homes available in each price category."

Read the entire article here Buyers Gain Upper Hand As House Sales Decline

Selling your home in a softening market requires a much different strategy than when times are good and buyers are plentiful. I've identified 10 specific challenges of a changing market and how any seller can overcome all 10 of them if they have the right roadmap for success.

Take a listen to my Podcast Challenges in a Changing Market to help you avoid the false starts and long delays that many homesellers are currently experiencing.

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Jeff Hoffman is the President of Hoffman Realty Group, Inc. and has assisted in over 100 relocation transactions during his real estate career. He is the creator of a powerful home selling system designed for the home seller not the real estate agent. To learn more about his Smart Seller Home Selling System visit
www.SmartSellerListing.com

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Posted by Jeff at 6:25 AM | Comments (0) | TrackBack

November 17, 2005

Housing Affordibility Falls

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Housing Affordibility Falls

- by Jeff Hoffman

California Association of Realtors reports on housing affordability

As of September of this year, 15% of Californians were able to afford a median-priced home (translation: a home costing $543,980). This is down from the 19% who were able to afford a median-priced home one year ago. Clearly rising home prices have outpaced income growth.

With such a dismal picture of home ownership, one has to question why there are so many people coming into the state. What are your thoughts? Post a comment and let me know.

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"Finally! A Quick and Easy Way For YOU to sell your home ON TIME, for TOP DOLLAR, eliminating the frustration and stress many sellers routinely face...

Click Here=> NEW FREE Book "18 Notorious Homes Selling Problems & How I Solved Them"-

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Posted by Jeff at 7:21 PM | Comments (0) | TrackBack

November 7, 2005

California Home Buyers Falling Short

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California Home Buyers Falling Short

- by Jeff Hoffman

© Jeff Hoffman- All Rights reserved
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Last week the California Association of Realtors® (C.A.R.) released their Homebuyer Income Gap Index™ (HIGI) report for the third quarter of 2005. This new study shows that "California households, with a median household income of $54,140, are $73,810 short of the $127,950 qualifying income needed to purchase a median-priced home at $545,910 in California".

As reported in this article the gap isn't getting any narrower. "The Homebuyer Income Gap Index™ for California increased 33.7 percent during the third quarter of 2005 compared with the third quarter of 2004, when the gap stood at $55,220, the median household income was $52,940, and qualifying income needed to purchase a median-priced home at $461,850 was $108,150."

It comes as little surprise to those of us who call northern California home that the widest gap in the state of California is in the San Francisco Bay area.

See the entire article here: California home buyers face gap between income and home prices

-=-=-==-=-=-=-==-=-=-=-=-=-=-=-=-=-=-=-
"Finally! A Quick and Easy Way For YOU to sell your home ON TIME, for TOP DOLLAR, eliminating the frustration and stress many sellers routinely face...

Click Here=> NEW FREE Book "18 Notorious Homes Selling Problems & How I Solved Them"-

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Posted by Jeff at 6:38 PM | Comments (0) | TrackBack