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December 2005 Homes Take Longer To Sell As The Market
Becomes More Balanced The
National Association of REALTORS® and the California Association of REALTORS®
appear cautiously optimistic about the market in 2006, both predicting
increases, albeit lower ones than those to which we have become accustomed
over the past few years. A closer look at their recent statements reveals
that their comments refer to “averages”. It seems that not everybody will see
their home’s value increase in 2006. This
should not be surprising. Simple economics would seem to dictate this, since
if prices were just to continue to escalate ahead of the rate of income
increases, pretty soon, nobody would be able to qualify to buy their first
home and the market would grind to a halt. Currently,
many of those areas where percentage price increases have continued to
shatter records month after month are now seeing a significant slow-down.
Homes are sitting on the market for longer periods of time and price
reductions are commonplace. In short, the market is becoming more “balanced”.
Desirable, well-presented homes that are priced aggressively are still
selling quickly - not within days, granted, but generally, that is only the
case in an over-heated market. In a balanced market, a seller that has a
correctly priced home should expect to agree a sale within 30 days. Without
the benefit of a working crystal ball, it is impossible to predict the future
direction of real estate prices in the The
message to sellers is clear – If you want to achieve a sale in a reasonable time
frame, listen to your agent’s advice when setting a price and be prepared to
take weeks rather than days to agree a sale. If you are buying, ensure that
your agent shows you recent comparative “comps” for any home you are
considering and don’t feel pressured into writing a full-price offer. If you
are buying and selling in the same market, welcome these changes. For most
people, a balanced market is preferable to any other. Restaurant Review
Teatro ZinZanni,
Pier 29, The Embarcadero, Rather
more than just a restaurant but an ideal venue for a holiday celebration or
just a party at any time of the year. In their own words: “Set along San Francisco’s historic
waterfront, Teatro ZinZanni
is a bewitching evening of European cabaret, cirque, divas and madmen,
spectacle and sensuality with live music and a gourmet five-course dinner—set
in the nightclub of your dreams!” The concept was established in Sylvia
and I found ourselves at Teatro ZinZanni
as part of our daughter Michelle’s birthday celebration in November. Like a
cross between Cirque Du Soleil and a European
night-club, Teatro ZinZanni
provides a blend of interactive theater, spectacle, fine arts and fine
dining. The frequently changing cast of characters features world-class
practitioners of some of the oldest and most time honored traditions in entertainment
- singers, dancers, jugglers, trapeze artists, comedians and more. All of
them are professionals of the highest caliber. As
a venue, it is not easy to describe. Imagine taking a circus tent and
shrinking it to a quarter size then decorating it in the sumptuous style of a
1930s The
food is superb. We had an antipasto plate followed by curried parsnip soup
and a salad with lettuce, walnuts and pears before moving on to the main
course. The lamb was melt-in-the-mouth tender. A chocolate silk cake with
cranberry sauce and coffee completed the meal. All
of this comes at a set price of $110 or $135 per person (plus $10 gratuity)
depending on the night. Prices are higher in parts of December. This does not
include wine and they have a extensive (though a
little over-priced) wine list and a full bar is available. For those who
prefer to take their own wine, a corkage charge of $25 applies. While
this is not the kind of venue that would be likely to visit on a frequent
basis, even if you lived in San Francisco but definitely worth going at least
once. See much more at www.zinzanni.org. Reviews such as the one above
are included as a service to introduce people to interesting restaurants in
the Homes Currently
Offered For as of December 1st,
2005 (Figures in parentheses show the
numbers at the beginning of last month)
|
|
Address |
City |
|
BR |
Bth |
½ Bth |
SqFt |
|
Sold
Price |
DOM |
|
|
|
|
2 |
2 |
0 |
1156 |
0 |
$570,000 |
1 |
|
|
|
La
Serena |
2 |
2 |
0 |
1220 |
0 |
$597,000 |
6 |
|
|
|
Castle
Crest |
4 |
4 |
0 |
3231 |
28260 |
$1,100,000 |
73 |
|
|
|
|
4 |
2 |
|
2319 |
16065 |
$1,250,000 |
7 |
|
1809 Piedras Cir |
|
|
4 |
2 |
0 |
2199 |
14520 |
$1,295,000 |
15 |
|
263 |
|
|
4 |
3 |
1 |
3600 |
26223 |
$2,000,000 |
5 |
|
17 |
|
|
4 |
4 |
1 |
4700 |
27617 |
$2,650,000 |
27 |
|
|
Blackhawk |
|
3 |
2 |
1 |
1869 |
1869 |
$765,000 |
41 |
|
|
Blackhawk |
Buttonwood |
3 |
2 |
0 |
2140 |
8400 |
$1,199,000 |
9 |
|
4100 |
Blackhawk |
|
4 |
3 |
|
2706 |
15200 |
$1,230,000 |
51 |
|
|
Blackhawk |
Buttonwood |
4 |
3 |
0 |
3156 |
6156 |
$1,339,000 |
17 |
|
|
|
Holly
Oaks |
4 |
3 |
|
3016 |
15600 |
$1,349,000 |
32 |
|
|
|
Eagle |
5 |
4 |
0 |
3578 |
7600 |
$1,585,000 |
14 |
|
|
Blackhawk |
Eagle
Nest |
5 |
3 |
1 |
4000 |
17750 |
$1,800,000 |
54 |
|
584 |
|
Doral |
2 |
2 |
0 |
1496 |
3600 |
$720,000 |
24 |
|
10 |
|
Camino
Ramon |
4 |
2 |
1 |
2263 |
2409 |
$755,000 |
30 |
|
32 |
|
Brush
Creek |
3 |
2 |
|
1693 |
3060 |
$799,000 |
6 |
|
|
|
Gill Blas |
4 |
2 |