The Stock Market Did What?

The real estate market here on the San Francisco Peninsula has been really good the past month or so. We're starting to get some good inventory and homes are moving at a brisk pace. Realtors are out and about again after the Holiday slow down doing Broker Tours and holding Open Houses. There was a time there when there were very few signs out on Tuesdays and Sundays. Though a few more good homes on the market wouldn't hurt.

Then out of no where, okay so some equity analysts called it, the Dow fell over 400 pts for a 3%+ drop yesterday caused by the Shenzen and Shanghai markets in China falling 10% overnight. Did you all hit as big a bump as I did? (Normally, I'm a big believer in the International Markets, but that just made me look kind of silly yesterday)

The question for us is does that have any impact on real estate? Well, let's just say my mortgage broker was happy yesterday because the bond yields immediately fell thus pushing mortgage rates lower. It may be short lived, but if you can take advantage of it, right now seems like a great time to buy. Home prices have stabilized and rates just dropped? This seems to benefit both buyers and sellers. We've reached a kind of short term equilibrium in the real estate market on the Peninsula. It's a welcome change and, with Economists still projecting a healthy economy and the FED on the sideline with this recent stock market correction, is one that looks to be sustainable for the foreseeable future.

Happy Buying. . .and Selling!!