Spring Housing Sales were brisk, but the season too short, say local Realtors in California.

Now that Memorial Day has passed, and graduations are finishing up, we are entering the doldrums of Summer, which while not as seasonally depressed for real estate sales as the winter months, is still not on par with the selling and buying flurry we have just come out of. I recently found an excellent article on the housing market, the continued economic stagnation (Read Triple-Dip Recession) and the long lasting effects our high unemployment, massive debt, deflated home values and underwater mortgages is having on the American Family and the American Marriage. I have reposted this article from DivorceRate2011.com, and believe you will find some of it if not all very interesting: "With the seasonal high in the real estate market coming to an end, and the economy no better that it was a year ago for most Americans, the flurry of divorce filings that were funded by the cash proceeds of couples who sold their homes and are buying their way out of a bad marriage is coming to a end for 2011. Real Estate sales peak in the spring, and then taper off with Graduations, Memorial Day trips and as the Summer drags on and people become focused on vacations, home improvement and the numerous distractions of the long hot summer days. And there has been a long pent up desire for couples to get divorced, fueled by the increase in financial pressures on marriages in this economy, the now "triple dip" Recession! With so many American's under such heavy financial burden and debt, the stress of keeping a marriage and family together is more than most can handle. The problem is that it is this same financial stress that is killing the marriage that is keeping the couples from filing for a divorce. Simply put - they cannot afford the divorce lawyers, attorneys and the two households. Hell, most can't afford the one miserable household they are in! After surviving a lackluster Holiday season, there was much anticipation and media supporting the current political agenda that recovery was solid and financial miracles were about to occur. And we all know that has not happened. The Real Estate market is still miserably slow, with inventory levels quoted by industry "Outsiders" as hovering around the 9 month levels (That means that the number of homes offered for sale, with the current rate of sale, would take about 9 months to sell them all). The healthy figure used for comparison is around 6 months inventory. Sadly, these latest figures DO NOT ACCOUNT for the SHADOW INVENTORY, such as pending foreclosures, short sales, REO's and other "Off the books" real estate that is just sitting in inventory, not being actively marketed or listed, and waiting for the bull-dozer of the Miraculous Recovery we have all been promised by Obama! In reality, there are at least 36 months of housing inventory and the buyers are few and far between. In fact, within the next 12 months, over 50% of all home sales in America will be short sales. And according to Core Logic, that projection may be conservative in some states. Some of the worst hit states will suffer even more, with over half of all home sales in Michigan (62.8%), Nevada (60.3%), and Arizona (51.5%) being distressed sales - Foreclosures, Short Sales or REO's. Rounding out the top 10 states for distressed home sales were California, Utah, Idaho, Georgia, Florida, Colorado, and Hawaii. So how does the real estate market effect the divorce rate? Simple. Divorce filings were up with the housing market, because couples were able to remove one of the factors keeping them from filing for divorce - their home and or mortgage. IF, upon selling their home, a married couple was able to realize a profit, an abnormally high percentage of them are using part of those proceeds to file for divorce. And now that the seasonally adjusted REAL ESTATE SELLING AND BUYING high months are behind us, we are seeing divorce filings taper off. But make no mistake, the demand is still there, simmering just below the flotsam of financial decay and lost consumer confidence that has a stranglehold on American families, doubting that there is any real recovery coming anytime soon.

Spring Housing Market Brisk but Short

Spring Housing Sales were brisk, but the season too short, say local Realtors in California.

Now that Memorial Day has passed, and graduations are finishing up, we are entering the doldrums of Summer, which while not as seasonally depressed for real estate sales as the winter months, is still not on par with the [...]

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416 Lakeview Way in Emerald Hills, CA for Sale!

Short Sale with a great view of San Francisco Bay! Offered at $729,000!

 

Relax on your deck and watch the lights of the Bay come on at night all for your pleasure. You will never get tired of the view from the 2-story Emerald Hills hide-away. 3 Bedroom, 2 bath home has [...]

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Short Sale in Woodside

Just listed – Short Sale in Woodside, CA.

 

Located on over 1.25 acres of pristine old growth Redwood forest overlooking Woodside, with glimpses of the Bay, this 85 year old Log Cabin is in need of some help. But the potential is immense! With 3 bedrooms, plus a bonus room, it is big enough [...]

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Foreclosures at RECORD HIGHS!

According to an article posted yesterday on BLOOMBERG, the U.S Home Foreclosure rate climbed to a new record high in April of this year. For details see my last post.  According to the BLOOMBERG article:

“U.S. home foreclosures climbed to a record in April, a sign that government mortgage relief efforts have yet to turn [...]

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Gap widens as Rents increase and incomes decrease

Rental vacancies for appartments and homes are low – historically low. The reasons are simple – more renters in the market who were one homeowners. The foreclosure, short sale and REO business is again showing us that fallout from a turbulent homeowners market has created opportunities for rental owners. Unfortunately, many people find themselves struggling [...]

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Home Values Rebounding

Simple truths are hard to ignore. And the truth is that home buyers are fed up with the often long and disappointing  distressed property buying process. Loan rates are on the rise, tax incentives are about to expire, and there has been a mad dash the last 60 days as qualified buyers rushed to get [...]

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Interest Rates on the rise

In case you have been living in a cave somewhere in the South Pacific, INTEREST RATES ARE GOING UP!

Now that the Feds are done propping up the mortgage rates to provide incentives for home buyers, we have just within the last few days seen the rates for a 30 fixed go up from 5.04% [...]

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Emerald Hills is truely "Emerald"

This is my favorite time of year to live in this part of California, and Emerald Hills is but one example of just how magnificent the spring time can be. Everything is green! When you live in Emerald Hills, there is a sense of community and all of our neighbors seem to realize the benefits [...]

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Low Inventory is Hurting Buyers

Well, it was just a matter of time, but for now the sellers are back in the drivers seat, so to speak!

The simple law of supply and demand is at work again, only this time it is Bay Area Home Buyers who are paying the price for waiting. With mortgage rates on the move [...]

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Michael Sells The Bay!

Hello, and welcome to my newest venture.  Michael Sells The Bay is where I, Michael Thomas, will share, update and inform the world on my take of the Real Estate Market as it relates to Northern California, and more specifically, San Mateo County, and Redwood City, Emerald Hills, Woodside, San Carlos, Atherton, Menlo Park, Palo [...]

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