We're often asked by our clients, "How much should we offer?"  This is an excellent question.  The answer is not straight-forward, especially in a market like ours. 

Real estate is local. 

 Often Buyers are disappointed with the lack of listings coming onto the market.  When they do find a place they really love and hope to call home, they often face bidding wars against other interested buyers.

Inexperienced appraisers are hurting the market, and buyers are frustrated.

Well priced condos in North Beach continue to sell when they are properly presented to the market. 

The real question seems to be, "If I buy now, will prices go down?"

As I moved around the city, I hit some patches of sunshine and warmth.  I realize that this is a good metaphor for the current real estate market. 

What a difference a year makes.  The snapshot of the North Beach condo market last year looks very different than the current year...

"We have a weakening market, but not a free-falling market."  Ken Rosen, Chairman of the Fisher Center for Real Estate and Urban Economics at UC Berkeley in an article in 1/23/09 SF Chronicle Article.

What will it take for these two fabulous homes to sell?  Well, a Buyer and a Seller reaching a deal, of course.  At this point, the Buyers have the upper hand.

unscientific, it's true, but 'hot' and 'desirable' have always been in the eyes of the beholder...

And for investors, there are many opportunities, especially because the SF rental market remains strong.

It seems like almost every day we are bombarded by reports of the crisis in the housing market, the impending recession, and other forms of doom and gloom.  I often wonder how much of this we create by putting our attention on how bad things are when they really aren't. 

This morning there is news that the Fed has cut interest rates by 3/4 of a point.  This should be good news for mortgage rates.  And if they do go down, it will make buying real estate in San Francisco even more attractive.