At the beginning of each new client consultation, I ask the prospective San Francisco home buyer or seller what they believe is going on in the local real estate market, whether they are thinking of a Bernal Heights single family home or a Mission Dolores condominium. Over the past 6 months, I have noticed a real shift in mentality. This is far from scientific research and more anecdotal, but it does seem like the public mood has improved. More buyers tell me that they feel we have already seen … [Read more...]
Want to sell your Mission Dolores Condo but afraid of limited financing options for the potential buyers?
Fyi, the post I just wrote on newly expanding FHA home loan options for San Francisco condominium purchase also affects those of you considering listing your condo. Have you been wanting to sell your Mission Dolores Condo (or Noe Valley, or Hayes Valley, or Bernal Heights, or wherever) but been afraid of the limited financing options for potential buyers? Get ready to smile. … [Read more...]
This week Zephyr Real Estate, San Francisco’s largest independent real estate brokerage, reported the following sales data: Weekly Home Sales Data Of All Houses, Condos, TICs, Lofts, and 2–4 Unit buildings Sold: 38% received multiple offers 50% sold for over the list price 19% sold for under the list price 31% sold for the list price What is interesting to me is the consistency of these numbers over the weeks. Our market is certainly affected by the economy and the credit … [Read more...]
"A home-sales revival that began last year in some of California's cheaper inland areas has begun to spread to several more expensive coastal areas, another hint that devastated real-estate markets in the state -- and other parts of the country -- may see less grim days ahead." So says an article in this weekend's Wall St. Journal. The article discusses Santa Clara County but it is transferable to San Francisco real estate where SF home listings also show positive signs. The "entry-level" or … [Read more...]
Home selling tip: Create URGENCY, not DESPERATION. Over the past few years as the San Francisco real estate market has slowed, I noticed that some of my competitors began to host longer and longer open houses. First, there were Saturday open houses in addition to Sunday. Next, the times went from 2-4pm to 1-4pm and then, to 1-5pm. I've even seen a 12-6pm announcement! With all due respect to my fellow real estate professionals, I have to object to this trend. Sure, at first glance, it may … [Read more...]