Belmont Real Estate

Belmont’s Market Report-February 2008

By |March 10th, 2008|

February sales data for Belmont is available but there’s not much to talk about. There were only five sales (homes that closed escrow) in the month of February. That means only five sales were consummated in January. That’s down more than 50% over last year. While that may sound like a huge percent decrease, it’s […]

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How Low Will it Go?

By |February 7th, 2008|

Our best guess is that this housing retraction will be more similar to 2001 than in 1990 which is to say it should be relatively short lived so long as jobs remain plentiful. This means the housing market should level off this year as far as declining sales go. Our feeling is it will be […]

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Adjusted Belmont Real Estate Median Price

By |January 31st, 2008|

Belmont
It’s interesting to note that in the last two years, for the first six months virtually the same number of homes sold—94 in 2006 and 92 in 2007.
After the July news of the mortgage industry financial issues, the overall uncertainty of the market, and undoubtedly with anticipation that homes values may drop, 2007 […]

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Sales That Drive Our Economy…

By |January 29th, 2008|

There are great deals to be had on appliances right now.
Everyone knows that the U.S. economy is driven to a large degree by consumer spending. Tighter post-Christmas spending patterns create a need for stores to offer up sales and financing deals to lure consumers back to the stores. Check out Best Buy and […]

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Butter or Bacon–How Do You Know What’s Good For You?

By |January 24th, 2008|

Let’s point fingers. It’s the American way—when things go awry, we want to know who’s to blame. There’s got to be somebody out there whose hands are dirty? And if we can’t find them we’ll pick an easy target.
So who’s is to blame for the mortgage fiasco? Might there be enough blame to go […]

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Median Price Methodology Examined

By |January 11th, 2008|

Median Price Methodology:
The methodology of reporting median home prices varies depending on the source. The MLS uses the aggregate method of calculating the median based on the preceding twelve month sales. We discuss why in a changing market this system is flawed at best.
Standard & Poor’s methodology is perhaps the most accurate, but it relies […]

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Median Bay Area Home Price Near Worthless

By |January 10th, 2008|

What You Hear About Median Home Values May Be Completely Wrong
The Multiple Listing Service for the Bay Area peninsula has launched the December sales stats and there is some compelling evidence that Bay Area homes values dropped slightly over 2006.
The median home price is the midpoint at which half of the homes sold for more, […]

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Belmont Real Estate-December Sales 2007

By |January 10th, 2008|

December 2007 Belmont Market Report:

↑Belmont ended the year with 17 sales in December as compared to 14 in 2006 and off the high of 25 in 2005.
That’s a glimpse the local market may be settling down.
↑Of those 17 sales, eight sold over the seller’s asking price, two sold at asking and seven […]

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Seller’s Can’t Afford to Overprice Their Home

By |January 10th, 2008|

Days on Market and Price Received Correlation
Though the nation’s mortgage industry is tumultuous at best, the peninsula market in the Bay Area is faring much better.
Last month 17 homes sold as compared to 14 in 2006 and off the high of 25 in 2005.
Of those 17 sales eight sold over the seller’s asking […]

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New Year’s Day. Why January 1st?

By |December 29th, 2007|

Why do we celebrate New Year’s Day on January 1st? For the same reason the sun never came up in Brittan for 12 days back in 1784—calendars.
On September 2, 1752 the good people of England went to bed and when they awoke it was 12 days later. The sun never came up during those […]

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