Wednesday, July 20, 2016

China, the Market, and the Virtual Food Drive

PacUnion and the China Market-- 

The spouse and I were hiking in Japan last month, so I was reading the Asian Wall Street Journal.  Was pleased to see that Pacific Union is the only real estate firm in the world (yes, you read that right) that advertises in that edition on its own (rather than through a network of many regional firms under an American umbrella like Luxury Homes, Luxury Portfolio, etc.).  While other Bay Area firms might advertise there along with homes from Connecticut, Hawaii, and Colorado, our full-page ad covered only homes in the Bay Area, all listed by Pacific Union.

It's part of our CEO's push to make Pacific Union the go-to locus for Chinese buyers interested in real estate here.  See this front page story from last Sunday's Chronicle that supplies context and stories.  As the Chinese economy continues to slow (and investigations ramp up), we may see more of these buyers looking for a haven.

Several of my listings in the past year or so have garnered strong all-cash offers from mainland Chinese buyers, and I've advertised some of my more contemporary turn-key listings in the Journal to good effect.  For those Mandarin readers, here's our site--

The Market--

Today's staff meeting suggested that the local real estate market continues its strong upward push.  The combination of 30% fewer listings than last year, yet strong buyer demand, means that our "absorption rate" is at the lowest point in two years--that is, there are way too many buyers chasing way too few listings, and homes are going off the market with great velocity.  
Slightly fewer homes sold in multiple offers this November compared to last (72% vs. 75%) but otherwise, all signals are positive, and loan rates remain at rock-bottom levels (under 3% for a 5-year adjustable loan).  

Alameda County Food Bank Gets Matching Funds TODAY

Planning a donation to the food bank?  Do it today and Royal Coffee in Emeryville will match your donation!  Click here to choose the organization you'd like to donate through (top right under Start Shopping, Select Your Group).  Two great choices are Pacific Union (we're more than halfway to our goal already) and the Piedmont BSA (Boy Scouts).  Cash donations stretch much further than canned goods (as the food bank can tap into deep vendor discounts that we can't), though if you missed the canned good pickup last month, the Boy Scout office still has its barrel ready for your cans just outside the door at 10 Highland Way.

Enjoy the Holidays!

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