FHA LAUNCHES SHORT REFI OPPORTUNITY FOR UNDERWATER HOMEOWNERS Effort designed to encourage principal write-downs for responsible borrowers WASHINGTON – In an effort to help responsible homeowners who owe more on their mortgage than the value of their property, the U.S. Department of Housing and Urban Development today provided details on the adjustment to its refinance

Despite the constant news of dramatic changes in the real estate market – Values soar! Values crashing! Market up or down ___% from last month! Double dip recession! – the home market in San Francisco has exhibited a remarkable stability over the past year. As shown in the charts below, median prices for both houses and condos are virtually unchanged from one year ago; buyer demand remains steady; months’ supply of inventory remains steady; foreclosure sales are stable; low interest rates continue. Statistics jump around within a relatively narrow percentage band: there has certainly been no definitive trend up or down. It is neither a crazy buyers’ market nor a crazy sellers’ market: it’s a relatively healthy, balanced market, where the basic rules of realestate generally apply: well-priced, well-prepared, well-marketed homes typically sell quickly and homes without those characteristics don’t

National average for a 30-year fixed loan is at 4.49 percent By ALAN ZIBEL Associated Press Mortgage rates dropped to the lowest level on record for the sixth time in seven weeks, offering the most attractive opportunity in decades for those who qualify to refinance or purchase a home. Government-controlled mortgage buyer Freddie Mac said

San Francisco Home Listings Accepting Offers by Week: climbing back to levels not seen since April, right before the Federal Tax Credit expired.  SF New Listings Coming on Market: declining as we head toward August, typically a month of fewer new listings (prior to another burst after Labor Day)  San Francisco Homes Actively

Upcoming listings: $825,000 // Noe Valley // Duncan Street BR/BA: 3/2 PKG: 1 Brief Description: Oversized contemporary condo on 2 levels with amazing downtown views. For your clients who want space and to put their own stamp on things. $780,000 //Parkside // confidential BR/BA: 3/2 PKG: 2 Brief Description: Center Patio home with great Ocean