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

One more thing about Fractional Home Ownership: Calling Owners of Fabulous San Francisco Properties

If you have a really fabulous San Francisco property, like a luxury condo near the museums and restaurants or a perfect home in Russian Hill with views to die for, you might be able to turn your real estate into a fractional property. Fractional real estate sells for 1-2.5 times a regular sale and it gives you the option of keeping a part of your property.

Say you are ready to retire to the Wine Country but want to have a place in San Francisco during Opera Season (or heck, Giants season for that matter)…how about selling a part and keeping a part? Continue to reap the benefits of San Francisco’s phenomenal property appreciation, while cashing out so you can buy your dream home in the country.

Just a thought…

Tags: fractional real estate ownership, san francisco luxury homes