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Tuesday,March 09,2010 |
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Real estate is not only local, it's also global. To understand the future, let's start by looking at trends in other parts of our nation and world. Certainly we are in a time of flux and economic challenges. Yet owning property continues to prove to be a wise investment.
The news that interest rates will remain low from U.S. Federal Reserve Chairman, Ben Bernanke, has had a positive impact. The Wall Street Journal recently reported that "access to liquidity for property developers and the fact that the U.S. is keeping interest rates low are helping to improve sentiment." There has been a positive, subtle shift in the global markets. Major Asian real estate groups are showing gains of 2.7 to 5.5%.
In the United States, existing home sales, including single-family, townhomes, condos and co-ops, were at 5.05 million units in January. This represents a rise of 11.5% above the 4.53 million–unit level in January 2009. The total available inventory for housing nationwide fell to a 7.8-month supply, down 9.6% from last year.
On a local level, activity is picking up. With the stimulus of the tax credits and lower available inventory, values are beginning to settle. In some cases, we are even seeing multiple offers for well-priced listings. Today's affordable housing prices are tempting to buyers looking for a wise investment.
OUR TOWN
Green building is here to stay. But if you're looking to buy green, beware - there are a lot of conflicting claims and options out there. That's one of the reasons why the Leadership in Energy and Environmental Design (LEED) is emerging as the “recognized standard for measuring building sustainability,” according to the Natural Resources Defense Council. A LEED certification recognizes that a construction project or building uses environmentally friendly building practices. You can find out more by visiting www.nrdc.org.
FYI
New laws are being enacted regarding lead paint. Beginning April 22, the Environmental Protection Agency will require contractors working on homes built before 1979 to be certified in preventing lead contamination. This newest effort could end up costing the consumer money and the contractor time. The certification itself costs money and so will the materials needed to prevent spreading lead throughout the home.
According to one federal health official, a large percentage of US homes could be affected. Yet health officials say that, especially in homes with children, it’s well worth the investment.
To find out more, check out one of these websites:
www.builderonline.com
www.housingzone.com
If you are looking for an experienced real estate agent in San Francisco Bay area, please make sure to contact Faye at 650.400.9818. |
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FAYE WENG Real Estate Consultant
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FEATURED PROPERTIES |
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| City |
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San Bruno |
| Bed/Bath |
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2/2 |
| Sq ft |
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N/A |
| Asking Price |
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$312,000 |
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| Virtual Tour |
| Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/1 |
| Sq ft |
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N/A |
| Asking Price |
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$748,000 |
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| Virtual Tour |
| Contact Faye |
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| City |
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S. San Francisco |
| Bed/Bath |
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4/2.5 |
| Sq ft |
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2410 |
| Asking Price |
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$868,000 |
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| Virtual Tour |
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| City |
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San Carlos |
| Bed/Bath |
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3/2 |
| Sq ft |
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2050 |
| Asking Price |
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$1,385,000 |
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| Virtual Tour |
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| City |
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San Mate |
| Bed/Bath |
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1/1 |
| Sq ft |
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692 |
| Asking Price |
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$395,000 |
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| City |
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San Mate |
| Bed/Bath |
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2/1 |
| Sq ft |
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918 |
| Asking Price |
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$435,000 |
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| City |
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Foster City |
| Bed/Bath |
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3/2 |
| Sq ft |
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1,540 |
| Asking Price |
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$798,000 |
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| Virtual Tour |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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N/A |
| Asking Price |
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$529,000 |
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| City |
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San Mateo |
| Bed/Bath |
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2/2 |
| Sq ft |
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1213 |
| Asking Price |
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$535,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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3/2.5 |
| Sq ft |
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1312 |
| Asking Price |
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$775,000 |
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Virtual Tour |
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| City |
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Redwood City |
| Bed/Bath |
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5/3 |
| Sq ft |
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N/A |
| Asking Price |
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$1,399,950 |
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Virtual Tour |
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Contact Faye |
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| City |
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San Mateo |
| Bed/Bath |
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2/2.5 |
| Sq ft |
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1,254 |
| Asking Price |
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$750,000 |
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Virtual Tour |
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| City |
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San Mateo |
| Bed/Bath |
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2/1 |
| Sq ft |
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1,130 |
| Asking Price |
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$935,000 |
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Virtual Tour |
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Contact Faye |
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| City |
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Redwood City |
| Bed/Bath |
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4/3.5 |
| Sq ft |
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2,951 |
| Asking Price |
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$1,626,000 |
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Virtual Tour |
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Contact Faye |
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