Marian’s Market Morsel 3/26/08

March 26th, 2008 by Marian Bennett
Categories: Market Activity, Relocation & Buyers

This week’s San Mateo County coastal market activity is picking up; however most offers being presented are not creating jubilant sellers. Sellers want to sell their homes in this peak selling season and buyers are hoping to get a “bargain” while faced with the uncertainty and confusion about which way the market will shift in the next several months, notes CB-Half Moon Bay’s Office Broker/Manager Robert Ross. Even when buyers find the right home or property, concern with overpaying is on their minds. Similarly, sellers are concerned that they’ve set or reduced their list price too low. Inventory levels show Half Moon Bay in a Buyer’s Market in Feb 2008 with 7 months of inventory. January 2008 was at 8 months. As of now…we’re trending toward a balanced market.

Buyers are working to mitigate their short and long term risks by choosing properties carefully and trying to understand the current financial environment, while at the same time remembering why they are home shopping in the first place – realization of long term benefits and lifestyle goals.

This entry was posted on Wednesday, March 26th, 2008 at 7:44 am and is filed under Market Activity, Relocation & Buyers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Marian’s Market Morsel 3/26/08 said at March 26th, 2008 at 8:40 am
[...] Real Estate Success wrote an interesting post today onHere’s a quick excerpt This week’s San Mateo County coastal market activity is picking up; however most offers being presented are not creating jubilant sellers. Sellers want to sell their homes in this peak selling season and buyers are hoping to get a “bargain” while faced with the uncertainty and confusion about which way the market will shift in the next several months, notes CB-Half Moon Bay’s Office Broker/Manager Robert Ross. Even when buyers find the right home or property, concern with overpaying is on the [...]
Elaine Murphy Carlson said at March 26th, 2008 at 8:52 am
Well put! Our market in Palos Verdes is seeing this same caution by buyers.
Robin and Eric Fenchel said at March 26th, 2008 at 8:18 pm
Hi Marian,
This is a good synopsis of what is going on currently in the Irvine, CA market as well. Seems like this is the beginning of a trend…
Marian Bennett, Coldwell Banker said at March 26th, 2008 at 8:37 pm
Elaine, Robin and Eric, Thanks for sharing information on your markets. This helps our readers understand what is going on locally, regionally, and statewide.
Half Moon Bay market conditions update as of May 2, 2008 | Coastal Real Estate and Lifestyles said at May 2nd, 2008 at 10:41 am
[...] activity and consumer feelings are consistent with my last morsel on 3/26/08. Half Moon Bay March inventory was 7.6 months – pretty much on par with February. While volume [...]