Weekly Market Watch
Week of November 4, 2007

There is a sense that buyers and sellers are really listening to the people that they ought to be listening to – their real estate professionals – and starting to understand that real estate is local.

A continually increasing buzz of activity is being reported from most areas, and house hunters are becoming more motivated to make informed buying decisions now while interest rates remain low and inventory levels in some areas create bargains. Our Reality Check initiative continues to have a positive educational influence and consumer impact, and also reaffirms Coldwell Banker Residential Brokerage’s reputation for being the leading residential real estate firm in Northern California.

More than 540 homes were held open last week and attendance was reportedly busy in most areas. Sellers should continue to take note that the well-priced homes in good showing condition draw the greatest number of potential buyers and get offers. A well-priced Berkeley listing drew 58 visitors. Burlingame notes agents writing offers in all price points, as well as active floor-time with a walk-in who bought in 24 hours. Half Moon Bay as well as majority of the East Bay, seem to have turned the corner most dramatically with respect to increased activity. A few of the micro-markets in the City and Peninsula may have seen a little slower week. One thing for certain - is nothing is for certain in the current market.

It was a wild week for the stock market, and financials had quite a roller-coaster ride this week. Seems as if a good Employment/Jobs report for the month means one thing one day, and then totally another the next. Economists are having difficulty staying consistent with any story line. But isn’t it great to remember that nearly every year-over- year period, San Francisco Bay Area Real Estate has consistently been a good investment.

Overall, listing and sales activity remains steady for most offices, but with a buzz of excitement and an increased sense of urgency. Sellers are beginning to think about the upcoming holiday season and many may be reconsidering their decision to sell. I believe if I were a potential Seller right now, I would try my chances over the next six weeks while inventory is likely to be its lowest -and while Buyers are enjoying lower interest rates as well.
Have a great week!
Rick

Rick Turley
President, San Francisco/Peninsula
Coldwell Banker Residential Brokerage