SF Real Estate Market

 
You will likely attract top dollar and keep top dollar when you provide good information to buyers before they write their offers.

Did you miss that surge of new inventory on the San Francisco market this spring? We all did.  Buyers and their agents were hopeful.  Inventory levels remained low. I was surprised to see this chart and realize that we've been waiting for the spring inventory to arrive. For the last few years!
California is facing a crisis with water, too. A few years of below normal rainfall, along with increased demand leaves us with a severe shortage of water.
 
 
 
For many of my years as a real estate...

I heard another agent remark recently that Sellers are always the last to know.  I hadn’t thought about this before, but in many ways, this is true.
In a declining market, sellers are the last to know when the market is soft, demand is down and prices aren’t what they used to be.  That appraisal the seller got 5 years ago when the market was stronger may be off by a hundred thousand dollars. Or more.
Sellers are the last to know when features of their home are not attractive to today’s...

 
abundance of purple cauliflower
 
 
San Francisco has long been a great place for food lovers.  Eating local, organic and fresh is easy. We have great produce in stores, wonderful farmers markets and plenty of other options for eating local and fresh--grow your own, get a box delivered to your door, etc.  In the last few years, it seems like we have a few dozen new restaurants in the Mission alone.  Foodies delight!  Our appetite for great food and hip new restaurants seems insatiable....

Are you ready to be a buyer in San Francisco?  Here are 5 things to consider as you start the buying process:
1. Be Pre-Approved Getting pre-approved before you start searching for your new home is critical.  It will be a guide to help you determine the kind and price of the property you will be searching for.  Because our market is currently moving quickly, getting pre-approved will enable you to write an offer within hours of seeing a property.  Your offer will not be competitive with...

For the past month, more than half of the announced sales have at the Zephyr office meeting have sold with multiple offers over asking. Some have sold near their asking price.  Some have sold for $50,000 over.  Or $150,000 over.  One for $400,000 over its $2.3 million asking price. What is happening here?  Simple.  Really high demand from buyers and a low level of inventory. The graphic depicts the months supply of inventory for residential properties in the city of San Francisco. ...

One question that many Sellers overlook when making the decision about who to hire to represent them in the sale of their home:  Would you ever be willing to represent the buyer as well as me?  And the follow on question: How many times have you reprsented both the buyer and the seller in a transaction?  Representing both the buyer and the seller in the transaction is perfectly legal, and some agents make this a business practice.
You might consider, however, hiring an agent who will not...

When you are buying or selling a home, it is important for you to select an agent who is experienced, knowledgable, professional and will help you through every step of the process.  After selecting an agent, you'll work with this person to identify the property that is right for you, help you determine the price and terms of the bid that are appropriate and help you negotiate the contract.  Once ratified (the deal has been accepted by all parties), your agent will lead you through the...

The fees for FHA loans will change this spring.  This was announced several months ago, but here's a great New York Times article with details.
For those with existing loans, their refinancing fees will be reduced.  For those who wish to purchase a home, their fees will rise.  This will help homeowners who may wish to refinance.  It doesn't help borrowers with new home purchases.  The point may be moot, anyway.  In our  sizzling HOT market, it is unlikely that an offer with a low downpayment...

HOT is the best way to describe our real estate markets, both in San Francisco and Marin.  Few listings come onto the market each week and many properties sell within the first day(s) on the market.  Many new listings are selling for over the asking price--some for significantly over asking.  While the national media, including the Wall Street Journal, is beginning to write about this, we are seeing interesting signs: houses in SF and Marin are selling before they reach the market, a great...

During your escrow process, you will be asked by your agent, lender and/or escrow officer how you plan to hold title.  There are several options for California residents.  Before you choose, it is best to confer with your expert advisors, including your attorney and accountant.  How you hold title can have significant implications on your estate (if your property transfers upon your death) and on your taxes.  
The common ways of holding title for co-owners includes (but is not limited...

2425 23rd Street
Once again, we are at that cycle in the San Francisco Real Estate market that arrives every January.  Buyer demand is high, and inventory is very low.  I visited a few open houses on Sunday, and all were packed.  The first, a single family home at 2425 23rd Street in Noe Valley is a 4 bedroom, 3 and 1/2 bath home.  Renovations on this home are tasteful and there is a nice blend of traditional details and practical, contemporary updates.  The open house was packed, and I got...

Recent market activity in Telegraph Hill shows signs that the market for condos is showing signs of recovery.  Although the market for condos in some of San Francisco's finest neighborhoods (including Russian Hill, North Beach, North Waterfront and Telegraph Hill) is down 16% in the last few years, it appears that the gap between supply (the number of condos listed for sale) and demand (the number of condos that close escrow) is narrowing.  What is happenning here?  Likely a number of...

In the last few months, the city has been buzzing about the upcoming America's Cup, heading to San Francisco for events in 2012 and 2013.  Besides being fun, the events are expected to bring over 8,000 jobs to the SF Bay Area and create over $1 billion in revenue.  Earlier this year, we had a listing that was visited by two sets of buyers who were relocating to San Francisco to work for the organizations preparing for these races.  I've also been asked by a few clients what impact I think...

Many involved with the SF Tenants Union and other tenants rights advocates have long been strong opponents of converting San Francisco housing units from rentals to anything else.  This includes 1. combining 2 units in a building, 2. converting rental units owned by one party and rented to many to units owned by many and owner occupied and 3. rental units converted to vacation rentals
I understand the objection to the third kind of conversion.  This takes housing from the market and makes...

Syndicate content