Danielle Lazier
Archive for the 'San Francisco Real Estate' Category
More San Francisco Homes Are Selling?
According to The Wall St. Journal, more homes in California are selling.
“California’s housing-market slump showed hints of improvement in March, with sales of existing single-family homes increasing 64% from the prior-year period and median home prices rising month-to-month for the first time since August 2007, according to a trade group report.”
Does this mean more homes in San Francisco are selling too? More on that later.
Where is San Francisco Real Estate Headed? Inventory shifts down.
Where is San Francisco Real Estate Headed? According to a recent article in the Wall St. Journal, SF real estate is looking pretty good…or rather looks better than most. No real estate market is great right now but I guess, we just “suck less” than the others! No, that was not a direct quote from the WSJ. 
For example, in a chart ranking 28 major real estate markets, San Francisco has had the 2nd highest drop in inventory from a year ago. Less supply = you guessed it, more demand.
San Francisco’s month’s supply of inventory is 4.6 months which is the 2nd lowest of the 28 markets.
Want to see more of the statistics, check out the entire article here. We’re having tech issues so cannot upload images right now. You’ll have to click-thru.
And just remember, even when it’s bad, it’s better to be better.
San Francisco Real Estate For Sale: Fared Best in ALL Bay Area!
Digging a little deeper into last Friday’s SFGate.com article entitled, “Home prices hint they’re nearing bottom,” I found a nice, fun fact about San Francisco Real Estate for sale.
“San Francisco continued to hold up best in March, with the median off 24.2%, at $626,500.” Sorry, Contra Costa County, you fared the worst with a 47.4% drop in home values to $215,000.
Sure, we may or may not have hit bottom. Sure, home values may or may not continue to decline. No one has that elusive crystal ball, neither you nor I.
Yet, there is strong evidence to suggest that communities like San Francisco will continue to hold their values better than neighboring counties. Why? Supply and demand is a major part of the equation and should not be underestimated.
Even though the “numbers may not make sense” from a traditional perspective, I, for one, am happy I own a home in San Francisco. The potential for appreciation here is just fundamentally greater than in areas that are not finite.
For example, where I’m from in Dallas, TX, there is a lot of land. All one needs is a new Walmart, Cineplex, and Chili’s and you’ve got a new mecca! When I was in high school, Plano,TX was really far away! Or so it seemed. Now, Plano is practically considered city center b/c the suburbs have moved so far past it…almost to Oklahoma! Seriously.
And yes, smartie-pants, I read that Economist article, “Shelter, or burden?” More on that later!
Inner Mission Real Estate Report
Here is this week’s Inner Mission Real Estate Report
Single Family Home
- Average Price of Active Property: $1,082,988
- Number of SFH’s listed: 8
- Average Days on Market: 79
- Number of Sold: 0
Condo / TIC
- Average Price of Active Property: $624,139
- Number of Condo/TIC Home Listed: 66
- Average Days on Market: 61
- Average Price of Sold Property: $771,500
- Number of Sold: 4
Loft Condo
- Average Price of Active Property: $594,488
- Number of Loft Condo Homes Listed: 8
- Average Days on Market: 55
- Number of Sold: 0
Any changes from last week’s report? Take a look.
To get a full report on Inner Mission real estate activity just send us an email.
And, if you want to know the value of your home, ask us for the free report.
West Portal Real Estate Report
Here is this week’s West Portal Real Estate Report
- Average Price of Active Property: $1,090,667
- Number of SFH’s listed: 3
- Average Days on Market: 30
- Number of Sold: 0
Forest Hill Real Estate Report
- Average Price of Active Property: $1,427,750
- Number of SFH’s Listed: 5
- Average Days on Market: 60
- Number of Sold: 1 ($800,000)
Any changes from last week? Take a look.
To get a full report on Forest Hill or West Portal real estate activity just send us an email.
Make Changes to your Address Books!!
San Francisco Real Estate Market Rebound
As stated by Hank Plante with cbs5.com, “More home sales in the last two weeks then in previous six months.” If a property is priced right it will generate offers…42 for one Seller.
Click here to learn more with a cbs5’s video report.
And read any/all comments posted regarding this report at FrontSteps.com
How Subsidy Cuts Would Affect Homeowners
Great article by Kenneth Harney in the San Francisco Chronicle. Click here, SF Gate, to get the answers to some of your questions.
Breaking News! How the Stimulus plan WILL affect San Francisco real estate…
Although it is not signed quite yet, the odds are very good that this will be the approved Economic Stimulus Plan.
To summarize, here is how it will affect real estate. Let me just say that I am quite pleased. Nothing is perfect and we’ll see if/when/how the banks deal with it but overall, there are some nice adjustments in the Bill. Read the rest of this entry »
Yeah, it’s a great time to buy but is it a great time to buy…for YOU?
Yes, friends, that is the real question.
I don’t have to tell you that right now is an uber-fantastic, once in a generation real estate buying opportunity because you already know that!
The combination of LOW mortgage rates and declining prices makes a perfect storm for first time buyers and “trade-up” buyers (those who have owned their starter homes for 5+ years and are ready to move up the food chain). Yeah, you’re tuned in. You know this part.
What you may not know is that just because it’s a great time to buy, in general, does NOT mean it’s a great time to buy for you.
Experience has shown time and time again that owning real estate, especially in desirable cities like San Francisco, will be a smart move in the long-run….regardless of WHEN you buy.
Yup, even us crazies (myself included) who bought in the “Go-Go 2000s” will make a great ROI after living in our homes for a few years. Plus, we get the many “joys” of home ownership and the many tax benefits in the meantime.
In any type of market, folks are buying and selling real estate. Some are making money and some are not. This is true in a buyer’s market, a seller’s market or anything in between.
Whether or not it is a good time to buy or sell real estate depends on your individual and very specific situation.
Where are you financially, emotionally, psychologically? What is going on in your life? Where are you headed? Is your job stable? Are you moving out of town? Do you want to live here comfortably for at least the next 5 years? Are you getting hitched? Having a baby? Have you out-grown your home? Is it too big or too small? And on and on.
Let me tell you a story.
Okay, so I answer questions on Trulia from time to time. If you’re looking at my blog page, see the feed to your right. While you’re at it, follow me on Twitter!
Recently, a couple asked a question on Trulia about their situation. They owned a house in District 10 and were wondering if they could sell that house and buy a another home in Bernal Heights or Glen Park.
Guess what? Most of the agents answered that the real estate market in District 10 is too tough. Don’t sell. It’s a terrible time. You gotta wait it out. Etc etc.
These agents gave their “knee-jerk” reactions to the market and to the idea of selling a home in District 10. They didn’t ask these folks any questions! They just told them what to do!
My approach was to offer a few scenarios of when it works to trade-up in this market while also including some cautionary tales. But, mostly, what I suggested is that we talk “off-line” about THEIR particular situation.
In reality, these folks had owned their home for 10 years. Even in today’s market, it had pretty much doubled in value. They had also saved money on the side. They were ready to “move on up”: financially, emotionally and logistically.
Guess what? They bought a gorgeous new home at a discount and sold their old home quickly and for a pretty darn good tax-free profit. They’re psyched.
The moral of the story: Figure out what makes the most sense for you on an individual basis. It may be the right time to buy. It may not. For that matter, it may be the right time to sell. It may not.
Make sense?
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