Pandemic and Shelter at Home in 2nd week
My wife, Cindy, has become a great source of news and information for me to use in my Blog. She is coming to realise Social Media as the way to communicate and promote myself and my business. This is quite a change as she was once my secretary as a stock broker, who went up the management ladder. Her final place was with the Western Regional Director of Merrill Lynch (pre 2006 fallout) which had her in compliance as one of her duties. Mailing, newspaper advertising and the "written word" were all part of the old school marketing programs. She has realised that Facebook, Instagram, Linked In and the other social media sites are much more than communication sites of friends. I think of it as a current resume' that lets viewers get to know who I am and how I think. She realises that and is planning a Instagram video once the quarantine os over. Look for it!
Clients really want someone who thinks like them and can relate to their needs. Hopefully this Blog will help me help you.
From Cindy an article from Kathleen Pender of the SF Chronicle from mid January 2020 that the Bay Area home cost dropped 2.3% in 2019. She felt it was a pre-cursor of the future. Like stock prices she believed that home prices could not keep up their fevered move up. Sooner or later prices get to a point that buyers just "give up". Kathleen's article certainly gave warning of a slow down in home prices.
The Dow Jones or the S&P 500 ,as most people watch, has been jumping around with new % moves up and down that are creating records for the financial markets. Follow this with the Virus and we will see home prices sooner or later follow the 2019 decline further downward in prices. Financial anlysts all declare this to be a ber market, which means stock price will decline in the future.
On a daily basis homes are being either withdrawn, cancelled or allowed to expire. From Condo's to Single Family homes in the Redwood City, Menlo Park, Atherton, Woodside, Portola Valley, Palo Alto and La Honda area sellers have come to the conclusion that inviting others into their home is inviting an unknown virus into their home.
To homes have sold, gone pending and are contingent. They represent what has happened 30-45 days ago. As we move into the 3rd and 4th week of the virus we should be able to see the impact on the real estate market. Woodside and La honda seem to be immune as they are not experiencing the same as their sister communities.
The California Association of Realtors has declared that "No Open Houses should be held" and "Showings should be done virtually". This will have a big impact on how realtors change into the 21ast century and beyond.
I am surprised to see listings coming back on the market. Prices are being cut and new listings are still coming forth.
The new listings, price cuts, return to the market should signal "Opportunity" to the buyers.
From Cindy:
Stretching Out in the Virus Age: a healthy life style of getting outdoors to exercise, get fresh air and encourage of healthy life style. I can't believe how many families are walking pass our house these days. Dogs seem to being walked so much they must be thoroughly pooped out at the end of a day.
Bay Area Group and San Jose Mercury News contribution is Bay Area Hikes. A "Breath of Fresh Air Among the Redwoods. I first realised what beauty and grandeur there was in Redwoods when I took our first horse,Simon, on a trail ride in the hills above our house on Tripp Road in Woodside. The silence and fresh air was invigorating. Riding there with Simon became a weekend regular. It came to the point of making a lunch and stopping along the way to sit and watch a waterfall while admiring the beauty we have behind us in the Western Hills.
20 years later as a realtor, I was given an in depth appreciation of the Redwoods. My MBZ repairman saw a home in the Middleton Tract in the La Honda area that dropped in price from over $1 million to about $345,000. It turned out to be a pre-foreclosure in 2006. We drove up there. It took about 45 minutes. The ride along Skyline Boulevard was spectacular! The view of the ocean to the right and San Francisco Bay to the left was awe inspiring. When we arrived at 150 Back Road we found it within an area called the Middleton Tract. We almost missed it as it was a small entry road to the left of the Portola State Park Road entry sign. We drove over a redwood bridge, limited to 40,000 pounds, and looked over the edge. Below were fish! Steelhead trout I later found out and Peters Creek was a spawning area. As we drove in we were overpowered by the Giant Redwoods. Some so large in girth I assumed they must be the Old Growth Redwoods that I only read about and never saw. When we found the property all he said was "buy it".
Since then Middleton has been a special area for me. To my wife's dissatisfaction, since it takes longer to sell, I have had a number of listings and purchases in the Middleton. James Middleton bought the property in the 20's and subdivided it into numerous lots all of which have a deed restriction of being residential only. Recently an attorney, Laura Bryant (recently deceased) fought and won a case stopping harvesting of the redwoods in the Middleton. The tract has its own mutual water company, road maintenance association and a water table that will give any owner easy access to back up emergency water. A fire hydrant systems covers the area and up to a few years ago they had their own volunteer fire department. PGE provides electricity, Propane is the gas supplied by services and AT&T supplies a land line and hopefully soon to be added internet service if i believe what the Portola State Park people tell me.
Today I have 4 listings in the Tract from just under 3 acres to over 18 acres. I love taking agents and buyers on a tour and into the trails of the tract among those giants. The air is fresh. The silence is most comforting and the seclusion keeps your mind on enjoying the beauty rather than social distancing and clorox wipes, face masks. Never a harsh word will be heard from the property owners as they ask if you need help as you drive into the tract.
Take a trip to Middleton and Portola State Park. Walk the trails and get fresh air made by nature's giant, the Giant Redwood of Portola State Park and the Middleton Tract. Call me for a tour and watch for Cindy's video.
IN THE MARGIN: Monday March 30th, The National Association of Realtors announce pending home sales. The forecast is -1.3%.
Clients really want someone who thinks like them and can relate to their needs. Hopefully this Blog will help me help you.
From Cindy an article from Kathleen Pender of the SF Chronicle from mid January 2020 that the Bay Area home cost dropped 2.3% in 2019. She felt it was a pre-cursor of the future. Like stock prices she believed that home prices could not keep up their fevered move up. Sooner or later prices get to a point that buyers just "give up". Kathleen's article certainly gave warning of a slow down in home prices.
The Dow Jones or the S&P 500 ,as most people watch, has been jumping around with new % moves up and down that are creating records for the financial markets. Follow this with the Virus and we will see home prices sooner or later follow the 2019 decline further downward in prices. Financial anlysts all declare this to be a ber market, which means stock price will decline in the future.
On a daily basis homes are being either withdrawn, cancelled or allowed to expire. From Condo's to Single Family homes in the Redwood City, Menlo Park, Atherton, Woodside, Portola Valley, Palo Alto and La Honda area sellers have come to the conclusion that inviting others into their home is inviting an unknown virus into their home.
To homes have sold, gone pending and are contingent. They represent what has happened 30-45 days ago. As we move into the 3rd and 4th week of the virus we should be able to see the impact on the real estate market. Woodside and La honda seem to be immune as they are not experiencing the same as their sister communities.
The California Association of Realtors has declared that "No Open Houses should be held" and "Showings should be done virtually". This will have a big impact on how realtors change into the 21ast century and beyond.
I am surprised to see listings coming back on the market. Prices are being cut and new listings are still coming forth.
The new listings, price cuts, return to the market should signal "Opportunity" to the buyers.
From Cindy:
Stretching Out in the Virus Age: a healthy life style of getting outdoors to exercise, get fresh air and encourage of healthy life style. I can't believe how many families are walking pass our house these days. Dogs seem to being walked so much they must be thoroughly pooped out at the end of a day.
Bay Area Group and San Jose Mercury News contribution is Bay Area Hikes. A "Breath of Fresh Air Among the Redwoods. I first realised what beauty and grandeur there was in Redwoods when I took our first horse,Simon, on a trail ride in the hills above our house on Tripp Road in Woodside. The silence and fresh air was invigorating. Riding there with Simon became a weekend regular. It came to the point of making a lunch and stopping along the way to sit and watch a waterfall while admiring the beauty we have behind us in the Western Hills.
20 years later as a realtor, I was given an in depth appreciation of the Redwoods. My MBZ repairman saw a home in the Middleton Tract in the La Honda area that dropped in price from over $1 million to about $345,000. It turned out to be a pre-foreclosure in 2006. We drove up there. It took about 45 minutes. The ride along Skyline Boulevard was spectacular! The view of the ocean to the right and San Francisco Bay to the left was awe inspiring. When we arrived at 150 Back Road we found it within an area called the Middleton Tract. We almost missed it as it was a small entry road to the left of the Portola State Park Road entry sign. We drove over a redwood bridge, limited to 40,000 pounds, and looked over the edge. Below were fish! Steelhead trout I later found out and Peters Creek was a spawning area. As we drove in we were overpowered by the Giant Redwoods. Some so large in girth I assumed they must be the Old Growth Redwoods that I only read about and never saw. When we found the property all he said was "buy it".
Since then Middleton has been a special area for me. To my wife's dissatisfaction, since it takes longer to sell, I have had a number of listings and purchases in the Middleton. James Middleton bought the property in the 20's and subdivided it into numerous lots all of which have a deed restriction of being residential only. Recently an attorney, Laura Bryant (recently deceased) fought and won a case stopping harvesting of the redwoods in the Middleton. The tract has its own mutual water company, road maintenance association and a water table that will give any owner easy access to back up emergency water. A fire hydrant systems covers the area and up to a few years ago they had their own volunteer fire department. PGE provides electricity, Propane is the gas supplied by services and AT&T supplies a land line and hopefully soon to be added internet service if i believe what the Portola State Park people tell me.
Today I have 4 listings in the Tract from just under 3 acres to over 18 acres. I love taking agents and buyers on a tour and into the trails of the tract among those giants. The air is fresh. The silence is most comforting and the seclusion keeps your mind on enjoying the beauty rather than social distancing and clorox wipes, face masks. Never a harsh word will be heard from the property owners as they ask if you need help as you drive into the tract.
Take a trip to Middleton and Portola State Park. Walk the trails and get fresh air made by nature's giant, the Giant Redwood of Portola State Park and the Middleton Tract. Call me for a tour and watch for Cindy's video.
IN THE MARGIN: Monday March 30th, The National Association of Realtors announce pending home sales. The forecast is -1.3%.
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