Danielle Lazier

Luxury Home Sales Bounce Back (especially in the San Francisco Luxury Home Market) – WSJ.com

Luxury Home Sales Bounce Back – WSJ.com…especially in the San Francisco luxury home real estate market.

“After a near-disastrous 2009, the luxury market appears to be making a comeback, driven by growing buyer confidence, improved financing conditions and more-realistic seller pricing.

Despite the housing downturn, attractively priced homes in some of the nation’s most coveted neighborhoods are selling, sometimes fast and sometimes with multiple offers.

Nationwide, sales of homes selling for $2 million to $5 million in the first quarter totaled 2,461, up 32% from a year before, says CoreLogic.”

Recently, a gorgeous 4 Bedroom home in San Francisco’s family-friendly Noe Valley neighborhood (San Francisco, CA 94114), listed for about $1,700,000. Within a week, the Seller had received 4 offers, 2 of which were “All-Cash” and with no contingencies!

In San Francisco, if a home is priced right for today’s market and in a desirable neighborhood, it will sell. This is just not the depressed market that you read about… That’s good news for Sellers, especially those who have owned their homes for a while and/or have other savings and are looking to trade-up.

Buyers, don’t despair. Prices remain significantly down from the peak. Yes, you may have competition and need to write an over-asking offer BUT you are competing at a price point 10-20% off of peak prices. And with today’s LOW mortgage interest rates, real estate in San Francisco remains a killer deal.

Tags: luxury, Luxury Real Estate Market, san francisco luxury homes

San Francisco Home Listings & Real Estate Market Data: Are we our neighbors?

San Francisco Home Listings: Are we our neighbors?

Last Sunday, the Chronicle printed an article about a slowdown in the luxury market. As usual, San Francisco real estate listings were lumped into the broader Bay Area market. Given that I’m a big believer in all real estate is local (but you gotta understand global to interpret), I was curious to see how the market dynamics would compare between the published Bay Area statistics and just San Francisco City and County.

Let’s find out!

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Tags: 2008 vs. 2009 real estate, Luxury Real Estate Market, The SF Chronicle