Prices

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...

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's front page article from the San Francisco Chronicle is entitled, How Low Will We Go?, starting with an openning sentence "The Bay Area housing crisis is worsening on all accounts, as the lack of credit and...

4 January 2007

 Happy New Year!

In today's San Francisco Chronicle Business Section, an article by Kathleen Pender indicates that almost 97 percent of people who sold their homes in November got more than they paid for their properties and almost half more than doubled their money (according to a report by Real Estate Solutions).  Using county records, the report looked at all single-family homes sold in November for which a prior sales price was available.  It then compared the median...

I had a conversation with a prospect recently who said, "I am in no rush to buy a home.  I'll just wait for prices to drop."  And it's true.  Many San Francisco buyers are in no rush to buy a home because they benefit from San Francisco's rent control laws which subsidize many long term renters and creates incentives for them to stay in their rent-controlled homes. 

Will prices drop?  it doesn't appear that they will.  I did some analysis recently of data from the San Francisco...

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