Your Real Estate Market Snapshot for September 2017 from SFAR

Every market is unique, yet the national sentiment has given rise to the notion that housing markets are stalling. Although desirous buyers are out on an increasing number of showings, there remains a limited number of desirable listings. And although mortgage rates have remained enticingly low, home prices have reached unaffordable levels for many new entrants into the housing pool at exactly the same time that established owners are proving to be less interested in moving.

September

New Listings were down 22.2 percent for single family homes and 12.0 percent for Condo/TIC/Coop properties. Pending Sales increased 8.6 percent for single family homes and 10.6 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 9.9 percent to $1,337,500 for single family homes and 8.0 percent to $1,104,500 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 31.0 percent for single family units and 20.0 percent for Condo/TIC/Coop units.

Last year at this time, the national storyline was about how high demand was propping up sales and prices despite low inventory and months of supply. That has actually continued to be a familiar refrain for many months in 2017 and now for the past couple of years. But with the likes of Hurricanes Harvey and Irma, different employment outlooks, disparate incomes, varying new construction expectations and potential housing policy shifts, regional differences are becoming more prevalent and pronounced.

For full report, click here: SFAR_MarketFocus_2017-Sept

Your Real Estate Market Snapshot for August 2017 from SFAR

August tends to mark the waning of housing activity ahead of the school year.

Not all buyers and sellers have children, but there are enough parents that do not want to uproot their children during the school year to historically create a natural market cooldown before any actual temperature change. Competition is expected to remain fierce for Snip20170920_7available listings. Savvy sellers and buyers know that deals can be made well into the school months, as household formations take on many shapes and sizes.

New Listings were down 15.8 percent for single family homes and 22.5 percent for Condo/TIC/Coop properties. Pending Sales remained flat for single family homes but decreased 18.6 percent for Condo/TIC/Coop properties.

The Median Sales Price was up 10.4 percent to $1,380,000 for single family homes and 10.8 percent to $1,175,000 for Condo/TIC/Coop properties. Months Supply of Inventory decreased 31.8 percent for single family units and 27.6 percent for Condo/TIC/Coop units.

The prevailing trends lasted through summer. This was expected, since there have not been any major changes in the economy that would affect housing.

Factors such as wage growth, unemployment and mortgage rates have all been stable. Every locality has its unique challenges, but the whole of residential real estate is in good shape. Recent manufacturing data is showing demand for housing construction materials and supplies, which may help lift the ongoing low inventory situation in 2018.

Click here for full report: SFAR_MarketFocus_2017-August

3200 Years Of History In One Picture.

3200 Years Of History In One Picture…

Thankfully, no loggers took it down, nor forest fires or earthquakes. Just a quiet life in a California forest for all these years

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Not every tree has a nickname, but ‘The President’ has earned it. This giant sequoia stands at 247 feet tall & is estimated to be over 3,200 years old.

Imagine, this tree was already 700 years old during the height of ancient Greece’s civilization and 1200 years old when Jesus lived and Rome was well into its rule of most of the western world and points beyond.

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The trunk of The President measures at 27 feet across, with 2 BILLION needles From base to top.

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Because of its unbelievable size, this tree has never been photographed in its entirety, until now.

National Geographic photographers have worked along with scientists to try and create the first photo that shows the President in all its glory.

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They had to Climb the tree with pulleys and levers, and took thousands of photos. Of those, they selected 126 and stitched them together, to get this incredible portrait of the President. And here it is:

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The man standing near the trunk of the tree is a good indicator of the tree’s size.

Incredible, isn’t it?