Federal Reserve Cuts Interest Rates Another .25 point

WOW! The rates were already the lowest they've been in two years for a 30-year fixed rate mortgage and the Fed's just cut the prime rate another quarter point. If ever there was a great time to take advantage of the low housing prices, now is it. Get in while the selection is plentiful, the rates are good, and the prices are low. Buy, Buy, Buy!!! Go to: http://www.jenniferlistings.com/ for your home search now! We can also send you a list of "Deals of the Week" in your price range.

DESPITE PRICE DECLINES, HOUSING STILL SAFE LONG-TERM INVESTMENT

Despite declining home prices as recently reflected in an S&P/Case-Shiller home price statistics survey, on average, the nation's top markets have experienced price appreciation by as much as 50 percent over the past five years, according to comparable data from the National Association of Home Builders (NAHB).

"It's important to keep things in perspective," said NAHB President Brian Catalde. "The current housing price correction is most pronounced in the once super-heated markets in California, Nevada, Florida and Arizona. In most other markets, price declines have been pretty modest."According to the NAHB's comparable data tables, home prices in Los Angeles dipped 5.7 percent in the last year, but have appreciated by 88.9 percent since 2002. San Francisco home prices have declined 4.2 percent in the last year, but have seen appreciation of 46.7 percent since 2002. Home prices in San Diego have fallen by 8.3 percent in the last year, but have appreciated 54 percent since 2002, according to the report.

"The level of pent-up demand reaching the market next year is a bit uncertain, and it is possible for even higher home sales activity than we're forecasting if buyers regain their confidence about the long-term benefits of homeownership," said Lawrence Yun, National Assoc of Realtors chief economist.

New Listing, Own Your Own Address

Now that rents are going up and becoming more scarce, this is a great time to buy low and get in to the real estate market or move up from your first home. Investors and first time buyers alike, this is a good deal. Dare to compare-- this 3 bedroom home was just listed and a prime value at $509,000. With a remodeled kitchen, taller cabinets, granite counters, tile floor, breakfast bar island and hardwood floors in the living room, enjoy this open floor plan with high ceilings and views over the deck and yard.

Walking trails and parks complete this quiet neighborhood tucked away near shopping, freeways, and schools. The perfect rental, but even better, a home you can be proud of.

Contact us for a showing now: jennifer@jenniferlistings.com

Buy Low Sell High

Now's the time for real estate deals. Watsonville, in particular, can be a tremendous source of property at incredible deals. Once we get past these short sales, we expect the sales prices to level out and possibly creep back up slightly. With interest rates holding at a low, we can't tell you enough, THIS IS THE TIME TO INVEST IN REAL ESTATE in this area. If you have the means and can hold the property for two years or more, you can have a good investment with a handsome return. But be prepared to move fast when you do make the decision to move forward because these deals are selling quickly once they are at the right price.

We are tracking the "deals of the week" so contact us with your price range and we'll load you up on the properties we've investigated personally to let you know what's a deal. jennifer@jenniferlistings.com

Home Features Buyers are Willing to Pay For

Statistics from NAR Research "profile of Buyers' Home Feature Preferences"

Percentage of buyers prepared to pay a premium for key features:
Interior:
Walk-in Closet in Master Bedroom 60%
Hardwood floors 57%
Granite Countertops 56%
Separate Showers in Main Bath 47%
Whirlpool Bath 40%
Cable/Satellite TV-ready 36%
Sitting Area in Master Bedroom 29%

Exterior:
Oversize Garage 56% (up from 6% in 2004)
Patio 54%
Fencing 51%
Porch 48%

Most Desired Home Features Very Important to Buyers

"Everybody has become so dependent on their cars and technology, for both work and personal use, that they're expecting their homes to have these amenities now," says Fran Davis, chair of the NAR Economic Issues and Residential Real Estate Business Trends Forum.

Most Desired Home Features Ranked "very important" to buyers across the United States:
1. Central Air Conditioning
2. Oversize Garage
3. Walk-in Closet in Master Bedroom
4. Backyard/play area
5. Cable/Satellite TV-ready
6. High-speed Internet access
7. Separate Showers in Main Bath
8. Patio
9. Fencing

More Home Buyers & Sellers use Internet and Realtors

More Home Buyers and Sellers Use Internet, Practitioners
Technology is transforming how Americans buy and sell homes in unexpected ways, and sellers using real estate practitioners sold their homes for 16 percent more than unrepresented sellers, according to new research released Jan. 17 by the NATIONAL ASSOCIATION OF REALTORS®.

Buy Retirement Home Now, Move in Later

With prices in many areas at an all time low, it might make good financial sense for Baby Boomers to buy your retirement home now, even if you’re still years away from actually moving. Sherman & Boone Real Estate/ property management division, can help find renters who will pay the bills until you're ready to live there.
Call Jennifer Watson for more information and potential opportunities in your price range!
(831)254-8654

Private Mountain Getaway- Sold in only 61 Days on the Market

End-of-the-road gated & private: "Live like you are on vacation" play in the stream (where Steelhead spawn), have a campfire in the ring, relax on one of the decks (situated for am or pm advantages) get back to nature in several garden areas, and indulge your creativity in the workshop/artist studio. Enjoy extra parking for all-sized vehicles and toys. This clean and charming 2 BR cottage takes advantage of it's setting with many dual-paned windows and no need for curtains. Live modestly or expand on what's there. It's just a hop skip to the famous Corralitos Market. Consider this if privacy and living out of the fog zone is important to you; You love the redwoods but like a bit of sunshine; a clean and comfortable, easy-care home for relaxed living is essential; and an acre in town is just not feasible, this is the home for you!

Contact Realtors: Jennifer Watson or Marion LL Lyng (marionl@shermanandboone.com) at Sherman & Boone Real Estate for a showing. MLS#734148 or visit: www.JenniferListings.com for more info and photos. (831)254-8654 or (831)786-2502.

It's a Move Up Market

“It’s a Good
Move-Up Market”

There's this perception that people wait for a good market to sell their homes. Most people buy or sell because of major events taking place in their lives: births, deaths, marriage, divorce or a job change; no matter what the local real estate market is doing. In today’s market you may not get as much for your house as two years ago, but when you buy another property, it's not going to cost as much now either— thus it's a good move-up market.

Is now a good time to buy?…Yes, anytime you can get in to the real estate market, is a good time. The San Francisco Bay Area, over the last 20 years of major ups and downs has appreciated, on average, over an 8% return on the investment. So, if you plan to both buy and sell in the same market, it doesn’t matter what cycle we are in because it is all relative. You may sell for less but you are also buying for less. You’ll get a better deal right now if you are buying but, with the right Realtor, you can still get a great deal out of your property for sale too.

Are you planning to downsize or move up? Let us help with your buying and selling needs, we can provide a free analysis of homes in the area and price range you’d consider buying or selling in. OR call…(831)786-2502 (we work with a network of Realtors through Leading Real Estate Companies of the World in most locations worldwide to help you find the best Realtor in your area or the one you are interested in).

Question of the week? What is the longest you've seen a house for sale on the market for?

CIty of Watsonville 2006 sales statistics

Did you know the average home in Watsonville sold for about $664,000 in 2006 and was on the market for 90 days...