"The trouble with the world is not that people know too little, but that they know so many things that aren't true."--attributed to Mark Twain

We continue to see the market slow down as the economy hits the skids. As I am writing this today, the stock market is down another 400+ points, though it is still early in the day and could rebound. The problem is, the mood is still pessimism and gloom and doom so it is going to be difficult for the market to go anywhere but down-- or at least not up. But in the real estate market there are sales being negiotiated and loans being done, however, it is very price sensitive and the buyers are looking for the bargains. Be sure your agent knows how to negiotiate in this type of a market... one who has had experience in a declining market. There is no subsitiute for experience.

I was just reading another report that stated this recession is going to be like the one we experienced in 1981-82. I remember that market and it was very difficult, but I strongly disagree with that prediction. Interest rates were 16%+!  It was like buying a home on your credit card. Developers were defaulting because no one could get financing or qualify for financing. Our interest rates are under 6% for a 30 year fixed rate JUMBO loan. That is a bargain. And there are a lot of properties on the market that can be bought for 10-20% less than a year ago and no multiple offers. That translates into an especially attractive deal especially if you are going from a smaller property to a larger purchase. Your savings on the larger property can be so much greater than the lower price you will receive on your smaller property.

I can remember not long ago buyers telling me they were waiting for this time and now that it is here even the ones with the money (who did not lose it all in the stock market) are not willing to spend it. I am always surprised when the buyers that were looking for a bargain and can now get one... then don't take advantage of this opportunity because they are afraid it will go down further. It might... but it is very affordable now. Don't wait until it starts to go up again because our market will change and when it does it does so quickly. 

Our November market report is now online at our website.

Remember, we know GREAT AGENTS to whom we can refer with confidence. We have already sent some happy buyers and sellers outside of San Francisco. So if you or someone you know needs to buy or sell property somewhere else in the country, keep us in mind. In return for the lead, we'll give you a chance to win our Rewards contest for a weekend in Tahoe.

Know someone who needs a long term rental in North Lake Tahoe near Tahoe City? Our unit in St. Francis Lakeside Condominiums is a 3 bedroom, 2 bath ground floor condo with a lovely wooded outlook. The kitchen has been upgraded with new counter tops and appliances. We are looking for reliable tenants to rent either fully furnished, or vacant. Includes off street parking and amenities like pool, spa, tennis courts and direct beach access. Close to the Marina Launch, this spot is perfect for someone with a boat. We're offering a referral fee for bringing us the right person or persons!

Need to get away??? Vacation in North Lake Tahoe? We have a Lake View condo -- a lovely 2 bedroom, 2 bath condominium available for rent in Tahoe City at Tahoe Marina Lodge, a lake front complex. This unit has panoramic lake and mountain views yet is within walking distance to shops and restaurants. Tahoe is an excellent place to get away from the fast pace of city life and enjoy nature. This is the condominium we use for our Rewards for RE-ferrals.

Need to get even further away?? Sit on the beach on the Big Island of Hawaii by staying in a fabulous 3 bedroom, 3 and 1/2 bath beach front condo at Kolea in the Waikoloa Beach Resort on the Big Island available for rent with ocean views and steps from the "A" Bay beach. Kolea is a gated community close to all of the amenities of Waikoloa-- swim with the dolphins, golf, swim, snorkel or just enjoy the sun. Send us an e-mail or call for details on special rates! We just visited and the surf and golf were fantastic!!!

Interest Rates

See what Foster Weeks says every Monday about interest rates in his weekly newsletter and on Blog. With all the turmoil in the stock and bond markets, it changes day to day!

Toys For Tots

It's not too early to start thinking about the upcoming holidays. Every Christmas season we support the Toys for Tots campaign put on by our local Fire Department. If you would like to donate to this worthy cause and support children in need, please e-mail or call toll free (866) 224-8024 to get specifics.

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Toll Free (866) 224-8024

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