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Brendan Aiello

Our Weekly Real Estate Market Report

· Comments Off on Our Weekly Real Estate Market Report 

The number of Active listings continues to be higher at this time than the three previous years, however, lower than last Sunday.
 
Pending Sales are higher at this time than the previous three years continuing the trend of the past few months.  I do believe that this number is attributable to higher sales volume, but is skewed by the longer time escrows are taking to close due to lender-related issues.  I expect the lender-related delays to increase in light of the new required disclosures as of July 30, 2009.  Escrow periods will be longer because of these required disclosures. While 30-day escrows are still somewhat possible, 45-day escrow periods are more realistic.  Sellers, Buyers and Agents should base their expectations on the more realistic number to avoid unnecessary stress.
 
I did something a little different this week in an effort to determine the heatlh of each of these markets.  I took the total number of properties in the Active and Pending statuses and got the percentage that were pending.  The higher the percentage, the more sales activity relative to the total inventory.  Here’s how they fared:
 
Foster City: 53%
San Mateo: 47%
Belmont: 42%
Burlingame: 27%
Redwood Shores: 23%
Hillsborough: 20%
 
Hillsborough was a lot lower last week, but this week had 5 pending sales.
 
August Month-to-date Closed Escrows are lower than previous 3 years and, again, I believe attributable, in most part, to lender-related delays.

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Lisa Karson

OLA Fun Faire 2009 – “Ireland By The Bay”

Hey Readers,

The parents of Our Lady of Angeles in Burlingame are working extremely hard to bring you a fantastic annual Fun Faire coming September 18th & 19th (Friday & Saturday). This year the theme will be, “Ireland By The Bay”. So far, Irish eyes are smiling at the fun and exciting new rides, games, and auction items we are putting together.

Have you made everyone “Green With Envy” by getting your hands on one of our fabulous limited Fun Faire T-Shirts? If fastoesslot.org not, please contact Debbie Way at 650-558-8160, and remember be sure to be spotted over the summer wearing your T-Shirt to help promote our fun faire and casino online be the winner of a FREE SPIN COUPON!

The most exciting part 6 million Americans went without affordable-health.info during all of 2011, compared to 49. of the Faire is always the raffle and remember 100% of the funds that we raise goes directly back into the school and greatly benefits all of the OLA children.

If you would like to order raffle tickets, feel free to give me (Lisa Karson) a call at: (650) 759-4644.

Remember, like Ireland we’re going green so check out the website. www.olaschoolk8.org for all of the latest information and any additional order forms you may need.

Go Raibh Mile Math Agat !!! (“Thank you” in Gaelic)

– Lisa Karson

Brendan Aiello

High Pending – Low Closed. Why?

The number of Active listings continues to be higher at this time than the three previous years, however, lower than last Sunday.
 
Pending Sales are higher at this time than the previous three years continuing the trend of the past few months.  I do believe that this number is attributable to higher sales volume, but is skewed by the longer time escrows are taking to close due to lender-related issues.  I expect the lender-related delays to increase in light of the new required disclosures as of July 30.  Escrow periods will be longer.  While 30-day escrows are still somewhat possible, 45-day escrow periods are more realistic.  Sellers, Buyers and Agents should base their expectations on the more realistic number to avoid unnecessary stress.
 
July Closed Escrows are lower than previous 3 years and, again, I believe attributable in most part to lender-related delays.  There also appears (not verified) to be a higher number of transactions falling apart.  From my experience and networking with other real estate agents and managers they stem from:

1.) Properties not appraising at purchase price (likely result of the new HVCC and out of area appraisers)

2.) Buyers trying to negotiate unrealistic repairs or credits based upon due dilligence inspections and believing the market is worse than it is

3.) Sellers, believing the market is better than it is,  not willing to accept realistic repairs or credits requested by Buyers

4.) Buyers not qualifying for loans due to last-minute requirements by lenders not related to appraisals

5.) Buyers remorse. Possibly influenced by the media or other sources that the market has not hit bottom and they possibly paid too much.

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Brendan Aiello

Who Has The Best Pizza on The SF Peninsula?

We thought it would be fun to mix it up a bit here at TeamTapper.com. So we added out first vote-off / poll! We want you (our readers) to let us know who has the Best Pizza on The Peninsula! After you vote let us know what type of pizza, why you like it, other things you like there, etc. If you like a pizza company that isn’t listed – let us know and we will add it. Good luck to all the local pizzarias! Please only vote once! Voting ends August 31st, 2009.

Who Makes The Best Pizza On The Peninsula?

  • Toto's Pizza (9%, 48 Votes)
  • Windy City Pizza (7%, 36 Votes)
  • Papa John's Pizza (6%, 31 Votes)
  • California Pizza Kitchen (5%, 29 Votes)
  • Zorba's Pizza (3%, 14 Votes)
  • Round Table Pizza (2%, 11 Votes)
  • Amici's Pizza (1%, 8 Votes)
  • North Beach Pizza (1%, 7 Votes)
  • Little Ceasar's Pizza (1%, 4 Votes)
  • Mr. Pizza Man (1%, 3 Votes)
  • Village Host (0%, 2 Votes)
  • Speederia Pizzeria (0%, 2 Votes)
  • Pizza My Heart (0%, 2 Votes)
  • Mountain Mike's Pizza (0%, 1 Votes)
  • Avanti Pizza (0%, 1 Votes)
  • Aldo's Pizza (0%, 1 Votes)
  • Seniore's Pizza (0%, 0 Votes)
  • Dominos Pizza (0%, 0 Votes)
  • Pizza Hut (0%, 0 Votes)
  • Red Brick (0%, 0 Votes)

Total Voters: 544

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Brendan Aiello

Your Monday Market Mid-Peninsula Real Estate Market Report

Stats From: July 26th, 2009 6:00AM

City

ACTIVE

High (List Price)

 

Median (List Price)

 

Low (List Price)

             
Belmont

40

$1,850,000

 

$899,450

 

$549,000

Burlingame

61

$3,190,000

 

$1,384,000

 

$540,000

Foster City

31

$1,550,000

 

$1,088,000

 

$798,000

Hillsborough

81

$18,000,000

 

$3,249,000

 

$1,350,000

Redwood Shores

20

$1,498,000

 

$1,142,000

 

$799,000

San Mateo

138

$2,795,000

 

$909,000

 

$299,000

 

 

         
Total

371

         
             
             
City

PENDING

High (List Price)

 

Median (List Price)

 

Low (List Price)

             
Belmont

29

$1,338,000

 

$830,000

 

$500,000

Burlingame

34

$2,500,000

 

$1,072,500

 

$599,000

Foster City

14

$1,499,000

 

$1,046,944

 

$839,000

Hillsborough

13

$4,790,000

 

$1,824,900

 

$889,900

Redwood Shores

6

$1,148,000

 

$879,000

 

$680,000

San Mateo

107

$1,798,000

 

$660,000

 

$367,000

             
Total

203

         
             
             
City (M.T.D C.O.E.)

SOLD

High (Sales Price)

 

Median (Sales Price)

 

Low (Sales Price)

 

 

         
Belmont

17

$1,225,300

 

$917,000

 

$650,000

Burlingame

13

$2,350,000

 

$1,250,000

 

$720,000

Foster City

11

$1,430,000

 

$925,000

 

$836,000

Hillsborough

9

$4,100,000

 

$1,850,000

 

$1,300,000

Redwood Shores

1

$910,000

 

$910,000

 

$910,000

San Mateo

38

$3,680,000

 

$822,750

 

$350,000

 

 

         
Total

89

         

Peter Aiellos's Monday Mid-Peninsula Real Estate Market Report Chart

 

 

 

 

 

 

 

 

 

 

 

 

Please remember to read our webpage disclaimer, that statistics and all other information on this webpage/blog is deemed reliable, but not independently verified or guaranteed.

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