|
THE BUZZ
This fall, real estate generally adjusted to a less frenetic seller's market. Maybe after the rush of multiple offers in many areas, buyers are fatigued and need a break. There are still instances where a listing gets multiple offers, but other listings are receiving one solid offer at or close to asking price.
Pending home sales lost ground in September, reaching the lowest level of the year. Lawrence Yun, the National Association of Realtors chief economist, attributes the slowdown to the lower inventory available to first time home buyers. He also says that the signs of a slowing U.S. economy may be causing some prospective buyers to take a wait-and-see approach.
Per Yun, "With interest rates hovering around 4%, rents rising at a near eight-year high, and job growth holding strong, albeit at a more modest pace than earlier this year, the overall demand for buying should stay at a healthy level." Yet even though pending home sales are down, they still remain 3% above last year's levels at this time.
For the last two years, mid-January through April saw a rush of buyers and sellers making deals. If you're thinking of buying, now may be the time to make your move. Stay tuned and happy Thanksgiving!
JUST ASK
Q: What smoke alarm is best for my house?
A: There are two types of smoke alarms available in most hardware stores. According to a study from Texas A&M University and the National Fire Protection Association (www.nfpa.org) here's what I have learned:
- Ionization alarms use radiation to detect smoke and flames. These alarms are sensitive to smoke from cooking and steam showers as well. That is why some people disconnect them.
- Photoelectric alarms use light and are very effective for smoldering fires.
During smoldering fires, the probability of fatality per the study was 55% in homes with ionization alarms and 4% in homes with photoelectric alarms. In fast flame fires, the fatality rate was 18% with ionization and 3.9% with photoelectric alarms.
The study certainly suggests that you have a photoelectric alarm. Still, the NFPA suggests that the best protection includes both types of smoke alarms for your home.
MY TOWN
Do you know of good ways to stay connected to important community emergencies?
I recently heard about a mobile app and website called Nixle (www.nixle.com). Nixle keeps you up-to-date with relevant information from your local public safety departments and schools.
- "Nixle allows us to reach people directly when we send out alerts and advisories." -Arizona Police Department
- "By sending messages directly to people's cell phones and email addresses, we ensure that accurate and important information is right at our constituents' fingertips." -Commissioner, St. Louis, MO
Go to https://home.nixle.com to know what's happening in your neighborhood; just enter a zip code or address.
FYI
The National Oceanic and Atmospheric Administration's Climate Prediction Center continues to forecast strong chances of El Nino continuing through the winter and into next spring.
In an update released October 26, the Climate Prediction Center stated that there is an approximate 95% "chance that El Nino will continue through the Northern Hemisphere winter 2015-16, gradually weakening through spring 2016."
The advisory issued by the Climate Prediction Center predicted that El Nino will peak in late fall or early winter.
I am considering buying an Ambient Weather radio in case storms create electrical outages; www.ambientweather.com. If you have used one of these radios or have another you prefer, I would love to hear about it.
PERSONAL UPDATE
It's been busy...
Click Links for Property Websites
Listed by Sheldon and Lynn Armenio - Alain Pinel Realtor
900 Bush Street Unit 421 San Francisco
SOLD PRICE $875,000
Listed by Sheldon / Pending in 9 Days with Multiple Offers
407 Barroilhet Ave - SM Park
SOLD, SOLD SOLD Price $2,100,000
1711 Eisenhower Street - San Mateo
Sale Pending 5 Offers List Price $859,000
|
