September 29, Weekly Analysis

Four new listing this past week, and they are highlighted on the list.

Three homes went into Pending this past week: 10028 Sage Hill Way, a 4/3 of 2,194 s.f which had been listed for $341,900 (my sale); 28651 Mountain Meadow Road, a 3/3 of 3,471 s.f. which had been listed from $399,000 — $426,000; and 9533 Sage Hill Way, a 3/3 of 3,255 s.f. which had been listed for $582,000.

One home Closed Escrow (Sold) this past week: 10611 Cerveza Dr. a 4/4 of 2,997 s.f. which sold for $509,000.

The Hidden Meadows market continues to be hot in the price ranges under $600,000 and cold above that price. The good news is that nationally, there are some positive signs and with the exception of those markets that seldom have major price reductions (such as homes with ocean views) and those positive signs are most positive in areas most hard hit. That is a good sign only because all markets cannot stand one area getting too far outside of whatever is its normal position. So long as our weather remains warm, we can hope for continued good results, and given that even our bad weather is not all that bad, perhaps the good sales will continue over the “winter” months.

I make that sunny hope on the multiple offers currently being made on well-priced homes under $450,000. I spoke with of my investors last week and his three latest purchases are remodeled and in escrow, and he is in the market for several more homes. Those investors who “flip” homes in the low market are going to be in play so long as prices remain low. In general, these investors pay cash, so low interest rates are immaterial for them but are important to their Buyers.

These low interest rates are taking money from retired people’s savings – savings that they had depended upon for retirement. It’s called “income redistribution,” and it is purely artificially being forced upon the public by the Federal Reserve manipulating the market. Whether it is a good thing or a bad thing depends upon if you are a retired person living on CD’s or a young buyer looking for a first home.

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