Arn Cenedella's (arncenedella) Blog

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Real Estate Agent - Coldwell Banker
RECENT BLOG POSTS
They say a picture is worth a thousand words. A Market Action index at 30 indicates a balanced market. Above 30 is a sellers' market. Below 30 is a buyers' market. On the San Francisco Peninsula in the cities of San Carlos, Redwood City, Menlo Park, and Palo Alto; we were in a sellers market unti...
03/17/2009
All 4 communities saw inventory levels drop at the end of the year. All 4 communities have seen inventory levels increase through 2009. Palo Alto has experienced the greatest increase in inventory levels - very interesting!
03/17/2009
440 Walnut St, San Carlos has just come on the market at $2,000,000 and is listed by Jocelyn Jamias of NAIBT Commercial. This property consists of 10 one bedroom one bath apartments and 1 two bedroom one bath apartment and is located just 2 blocks from downtown. Current gross income is $141,900 -...
03/17/2009
22 new listings this week in Palo Alto. 2 pending sales this week in Palo Alto. 123 listings currently for sale in Palo Alto. 23 pending sales currently in Palo Alto. As one of the agents in my office said after tour today, there sure are a lot of homes for sale in Palo Alto right now "a dime a d...
03/05/2009
That is the $64Million question on many folks' minds.Here is my "take":In my San Francisco Peninsula market, I would say:Are there good values to be found? Yes.Are we at botttom? Probably not. I expect contiuned downward pressure on prices. (In most San Francisco Peninsula cites, values are down ...
03/05/2009
The current $7,500 tax credit for first-time buyers has income limits of $95,000 for individuals and $150,000 for couples. Due to our high housing prices, this credit has done little to spur our local market. It appears the proposed $15,000 credit will not have income limits and will apply to all...
02/12/2009
I get several inquiries or phone calls a week from buyers wanting to buy a foreclosure. I ask: Why? They say: To get a good deal. They want a list of foreclosure homes before the lender forecloses on the home - Realty Trac sells this information. In my opinion, this is the wrong strategy for buye...
02/12/2009
Until today, Fannie Mae had a rule that they would not buy mortgages from borrowers who had five or more real estate loans - or perhaps more accurately stated - mortgages from borrows that had loans on five or more properties. Fannie Mae changed this rule today: Per Fannie Mae announcement 09-02:...
02/12/2009
Yes, the economy is weak and yes, we may not have seen the worst. But if you feel your employment is secure, if you buy within your financial means, and if you wish to make the San Francisco Peninsula your home, this is a good time to buy. Long-term, I think we can have confidence that the econom...
02/12/2009
Yesterday the Senate passed a $15,000 tax credit for home buyers. For some preliminary information, click here Of course the details may change once the House looks at this piece of legislation. My questions are: credit for all home buyers? or just first-time buyers? credit retroactive? I have se...
02/12/2009
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Arn Cenedella

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