I know times are tough and I know there is a lot of truth to today’s real estate gloom and doom. Yet, could it be that the mass media is overstating the problem and it some ways, causing more through the psychological warfare of the evening news??

Sure home sales and prices are down in many areas, although not in most parts of San Francisco. Sure, foreclosures are up and the blowback from the subprime mortgage crisis may be threatening banks and secondary mortgage lenders, but, according to “Barron’s” (see the link to the story below), there are some early signs the real estate market is trending in a more positive direction—although you may not know it if you rely on the mainstream media for your real estate news.

Some interesting food for thought from the Barron’s article:

Check out the full Barron’s article by clicking here.  

First American Title is helping us in defining each neighborhood in the city.  As a first time homebuyer where do you want to live?  Here is a brief overview into the “Legendary” areas in the city by the bay.

Haight Ashbury, Buena Vista, Cole Valley

Think Haight-Ashbury is the home of Hippies and free love?  If so, you’re almost 40 years too late.  Buena Vista Park and the neighborhood surrounding the famous intersection of Haight and Ashbury  Streets may have been the epicenter of the Summer of Love, but the hippies have long since grown up or moved out.  “The Haight,” as it’s more commonly know today as till exists on the avant-garde fringe, but that fringe now includes hip bars, trendy restaurants, exclusive boutiques and high-end vintage clothing shops.  Souvenirs of the ‘60s can still be found in a few smoke shops and second hand stores, and punked-out kids, drugs and panhandling are still prevalent on upper Haight Street, but the residential streets are full of nicely restored Victorians and “normal” neighborhoods.

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First American Title is helping us in defining each neighborhood in the city.  As a first time homebuyer where do you want to live?  Here is a brief overview into the “Emerging” areas in the city by the bay.

As amazing as it is to long-time opera and symphony patrons who used to carefully avoid its crack houses and prostitutes on their way to the theatre, Hayes Valley has emerged as one of the most stylish neighborhoods in San Francisco. 

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First American Title is helping us in defining each neighborhood in the city.  As a first time homebuyer where do you want to live?  Here is a brief overview into the “free spirits” areas in the city by the bay.

Noe Valley, The Mission and The Castro

During the dot-com boom, Noe Valley was like the overlooked teenager suddenly discovered by the cool crowd.  Wannbe high-tech millionaires came for the easy access onto Highway 101 heading directly in to the Silicon Valley and stayed for the pretty Victorians and charming shops and cafes along the 24^th Street.  Competition for homes in the neighborhood became fierce and dipped only slightly after the economy went bust.  On sunny weekend mornings crowds of residents pushing strollers or leading dogs on leashes down 24^th still wait for brunch tables at Miss Millie’s or Savor for over an hour.  Browsing through the unique gift, home decor and clothing boutiques that line the street helps pass the time.  The original location of Martha Bros. Coffee attracts a crowd of locals reading the paper or chatting on the benches outside every morning, but if it’s full you can always get your cup filled a little further down the street at Tully’s or Starbuck’s.

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Five years ago I helped Paul and Gloria purchase their first home. Now, with one child and a second on the way, they called and asked me to help them sell their home and find a larger house for their growing family.

Paul and Gloria�s condo was in a nice neighborhood and had appreciated?but in this current market, not nearly as much as they�d thought. They were disappointed with my suggested listing price and said they�d think it over and get back to me. I didn�t hear back from them. Ten days later, I discovered they�d listed their house with another agent?for $30,000 more than the price I�d suggested.

Four months later, when their listing expired & their condo had not sold, Paul and Gloria called, apologized, and asked me to list their home to sell. We sold the house in 31 days, and now they�re packing and preparing to move into their 3-bedroom single family home, which they got a great deal on, by the way!

Who�s the next person you know whose listing has expired? Be sure to give me a call to discuss how we can let them know about my services.

There are only 5 Factors in any given Real Estate Sale, whether you are selling a Soma loft or a Noe Valley Victorian.

You may be surprised to see who controls what….but think back to Econ 101. It’s all about supply and demand.

Gary and Ann needed a larger home with more bedrooms and a bigger backyard. They had three young children, two dogs, and not enough space for their family to grow. However, the bitter memories of their last homebuying experience remained, so Gary and Ann hesitated to work with another Realtor. They even discussed trying to sell their home and purchase another using an online service to avoid a repeat of their last situation.

I�d helped Ann�s boss downsize from her house to a condo, and she suggested they talk to me. They were somewhat skeptical when we met for our Initial Consultation, until I explained that I was a consultant, not a salesperson, and more interested in building relationships than making a sale. As Ann and Gary grew more comfortable, they shared personal thoughts about their goals and dreams. We discovered what was truly important to them about both the transaction and their new home. We started house hunting and three weeks later, Ann and Gary purchased a four-bedroom home with a huge backyard for $15,000 less than asking price. I�m honored to say they�ve since referred two friends to me!

Do you know anyone with great income, savings and no tax deductions? Please let me know about them so they can enjoy home ownership & better their bottom line.

”It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair, we had everything before us, we had nothing before us, we were all going direct to heaven, we were all going direct the other way–in short, the period was so far like the present period, that some of its noisiest authorities insisted on its being received, for good or for evil, in the superlative degree of comparison only.” –Charles Dickens, A Tale of Two Cities

Granted this is a cliche-ed cliche but nonetheless, we here at the SFHotlist are very pleased to see some neutral San Francisco real estate commentary from the Chronicle. Thank you, Carol!

Okay, it may not be the best of times anywhere for San Francisco real estate though for much of the City (Noe Valley, Castro, Potrero Hill, Bernal Heights, Pacific Heights, etc), times are pretty darn good. While the fear mongerers battle it out on the radio and TV news channel, we on the front lines, the real estate agents, can report low inventory and strong demand.

Today, I toured a Bernal Heights single family home. The sellers received an over-asking price offer before their 1^st Broker’s tour!

Each day, I receive email from fellow Zephyr agents wanting to know if we have listings coming on the market soon that will meet their buyers’ needs.

I sold a SOMA TIC Victorian flat in December only to have the buyer back out with cold feet. Two weeks later, I sold it again….for MORE money.

And the examples could go on.

Moderately realistic sellers AND buyers are able to make happy, successful negotiations. It is not party like it’s 2004 for sellers, and it is not a Ross super clearance sale for buyers.

If you have owned your home for 3+years, your property has likely appreciated nicely & in early 2008 the buyers are back but the inventory is not. If you have saved for a down payment (even 5–10%) and have a good job/credit, there are properties you can buy for relatively good value AND with great interest rates.

So, why does the media consistently report that our market has busted and will take a long time to rebound?

BECAUSE, THIS ROSY STORY HOLDS TRUE ONLY FOR PARTS OF SAN FRANCISCO!

Parts of San Francisco real estate are troubled. There are short sales, foreclosures, and REOs (bank-owned) sales. There is too much inventory and not enough demand.

As Carol Lloyd astutely wrote in her January 6^th, 2008 column, “Far from the Nob Hills and Noe Valleys, the Pacific Heights and Outer Sunsets, there are neighborhoods stretching across the southern and eastern quadrant of the city that tourists have never heard of and many San Franciscans have never visited. And it is these areas — Portola, Ingleside, Ocean View, Mission Terrace, Outer Mission, Bayview, Excelsior — which have been hit hardest by the real estate downturn.”

These neighborhoods are skewing the numbers…

“Indeed, an inordinate number of the single-family homes coming on the market in recent weeks are located in these neighborhoods. What’s more, they seem to be staying on the market longer: 77 percent of December’s SFNewsletter’s list of “stalefish” (houses that have been on the market for more than 100 days) come from these neighborhoods. The result is that although they represent only about 25 percent of the city’s land, and less than a quarter of the city’s population, such neighborhoods are overly represented in the real estate statistics.”

Remember that all real estate is local and when I write local, I mean really local. This is about niche markets. What’s happening in your ‘hood may have absolutely nothing to do with what is happening across town. (Sometimes, even across the street if you live in an area with a lot of rent controlled housing and who doesn’t?)

As we usher in 2008, I wish you the best of times in your neighborhood and a critical eye towards the media. Depending on your individual situation, it really is a great to buy or sell.

Check out the complete column here: In real estate: A tale of two Friscos.

Here�s a quick note to let you know how I can help you or anyone you might refer to me.

Six years ago I had the pleasure of helping Kathy and Eric purchase their first condo, and two years ago I helped them buy a three-bedroom house. When Kathy called two months ago to tell me that Eric had been promoted and they were relocating to another state, of course I had mixed feelings. Though delighted about their good fortune, I was sorry to see such nice folks leave San Francisco.

As I belong to a national organization of real estate and mortgage consultants, I offered to connect Kathy and Eric with a Realtor and Lender in their new city. I contacted my organization, interviewed several consultants on their behalf, and found just the right match. Last week Kathy sent a photo of Eric and her in front of their new home, with a note thanking me for referring them to such competent professionals! Who�s the next person you know who is moving into or out of our area? Be sure to give me a call to discuss how we can let them know about my services.