Open House

1300 S Ocean 9th floor. $848,900

Listing Agent: Jocelyn Blaylock, Keyes

This Week's Best Buys

Click on the link below to see the homes priced in the 'sweet spot' in the Imperial Point area. Call me to see any of these great properties.

Imperial Point Best Buys

New Listing to Pending Sale Ratio

In my never-ending quest to find good news in the real estate market; let me share this fun statistic. The chart to the right depicts the change in a ratio that represents how many new listings are being 'canceled out' by listings coming off the market through a pending sale.

The curve of this graph was consistently in a downward direction as the market cooled as inventory of properties on the market expanded while sales volume declined. The graph (you guessed it) flattened out as we were in the doldrums in 2007 and 2008 so the apparent upward trend is a great sign moving forward.

Monthly Numbers

Gather 'round chart-lovers here are the graphical statistics for March. Sales are up and the available inventory is going down all pointing toward a more normalized real estate environment.

Interest Rates Still Low

....so why aren't you BUYING??? ;)

Distressed Sales in March

Distressed Sales (foreclosures & short sales) represented about 36% of the dollar volume of all sales in the month of March. This is the third successive month of diminished dollar value at about the same percentage of units sold throughout the period. This is yet further evidence of banks and owners lowering prices to attract buyers into the marketplace.

Slight Uptick

In what looks like a case of dyslexia, average rates rose from the historical low of 4.78% to 4.87%. These low rates have resulted in a substantial increase in new loans and refinacings for the 5 weeks ending on April 3rd. New loans increased 22% in the period and refinancings were up 129% according to the Mortgage Banker's Association.

Average Mortgage Rates Continue Falling

Average mortgage rates, as reported by Freddie Mac, continued to fall within the record setting territory reached last week. Continued reports of a weakening economy along with infusions of funds from the Federal Reserve have been keeping mortgage rates at these levels.