sellers

 
There have been several articles recently that indicate the San Francisco housing market is a heading to doom: there is a bubble, it will burst and prices will tumble. Is that true? My crystal ball has been broken for a long time.
 
Here’s what I know. The housing market in the Bay Area has been red hot for the last three years. The market continues to be strong, although we are starting to see some variation in strength by neighborhood, by segment and by property.  
Some Examples: 

San Francisco Market Update

 

The San Francisco real estate market, like all other markets, has its ups and downs.  In the long term, our market has been going up steadily for many, many years.  The market was down following the 2008 financial crisis that had a huge impact on the entire economy, the San Francisco real estate market was down from 2007 highs.  And then, starting in 2012, our market took off. Most properties listed for sale received multiple offers with sale prices well over the list price.  That trend has continued into 2016.  Now, in some neighborhoods and for some kinds of property, the market seems to be stabilizing (for example: some lofts in SOMA neighborhood). The charts below are for all of San Francisco. If you would like to know what is happening in your neighborhood or any neighborhood in the city. I can prepare analysis that is custom for you and your questions. 

 

 

 

Properties are still selling quickly in San Francisco neighborhoods. A home or condo is listed for sale and often generates a lot of interest very quickly. The number of days that a place is on the market until it is sold has been declining stedily in the last few years, and it appears to have stabilized. 

 

 

 

The number of homes sold is also down, while demand has remained strong. 

 

 

 

And the fewer listings on the market and subsequently sold, has put pressure on prices.

 

  

 

Demand remains strong because of strong job growth in the region, and lack of production of housing units to meet this demand.  According to economists from the California Association of Realtors, between 2010 and 2015, jobs in the Bay Area incrased by 234,000, while only 30,000 new housing units were added.

I look forward to talking with you about the SF real estate market.

 

 
 

Marin County - May 2016
The Real Estate Update

Market conditions in Marin remain tight and seller favorable. Sales activity continues to be active, but has edged lower in recent years due to inventory constraints. Single family and condominium sales probably reached their cyclical high in 2013 when nearly 3,100 homes were sold, compared to 3,000 in 2014 and 2,900 in 2015. With current inventory at 1.4 months of supply for single family homes and 1.3 months for condominiums, the...

 

 
San Francisco Real Estate Market: Is It A Bubble? 
 
There have been several articles recently that indicate the San Francisco housing market is a heading to doom: there is a bubble, it will burst and prices will tumble. Is that true? My crystal ball has been broken for a long time.
 
Here’s what I know. The housing market in the Bay Area has been red hot for the last three years. The market continues to be strong, although we are starting to see some variation in strength by...

It probably comes as no surprise to anyone who lives in the Bay Area and has access to local news reports: The real estate market in San Francisco and all over the Bay Area continues to have rising sales prices caused by fierce demand, and multiple buyers bidding on almost every home or condo listed for sale.  Many homes sell significantly over their asking prices and median sales prices continue to rise rapidly. This has been the story for the last several years. What’s different this...

I helped Ben Amyes and Tom Hagan sell their condo in the Mission and this enabled them to move to Woodacre. Here is their story:
 

It Doesn't Get Much Better Than This!
One bedroom/one bath Open floor plan living/dining room Private garden patio Kitchen with stainless appliances, granite counters, glass tile backsplash Large bedroom with ample closet space Custom designed storage in large entry hallway Well managed elevator building Low Monthly HOA fees $371.56 Leased parking in building $325/mo Close to MUNI and corporate shuttle busses Quick walk to Alta Plaza and Lafayette Parks Steps from Fillmore Street restaurants, cafes and boutiques
$679,000

This beautiful, light-filled one bedroom, one bath condo is ideally located a half block from Pacific Heights’ vibrant Fillmore Street, with some of the city’s best restaurants, cafés and boutiques. It is a quick walk to Alta Plaza and Lafayette Parks, close to MUNI and corporate shuttle busses, and it’s easy to get downtown and to points North and South. The combination living and dining rooms with wood floors are adjacent to the kitchen and the private patio.  The kitchen has granite counters, stainless appliances, beautiful gray-stained cabinets and a glass tile backsplash. The bright, spacious bedroom has a large closet. Extra storage is available in the custom-designed unit in the spacious entry hallway. Leased parking in building. Low HOA dues $371.56 per month. Beautiful and close to it all. It doesn’t get much better than this!

Sold
$800,000
Serene Condo at Lafayette Park
Light-filled Open Floor Plan Living/Dining Room Large View Deck Fireplace Updated Kitchen with Stainless Steel Appliances Large Bedroom with Custom Closet Organizer Ample Storage Space Parking and Storage in Garage HOA fees $438.84 Amazing Location!
$689,000

Step into this light-filled condo and you will be transported from the hustle of your busy life to a calm, serene space.  The open floor plan living and dining room has a wood burning fireplace, built in book shelves and a glass wall that opens onto the large deck with views to the south of treetops and Twin Peaks and Sutro Tower. The adjacent kitchen has good storage and stainless steel appliances. The large bedroom has a custom built closet organizer and garden views. The updated bathroom has plenty of storage for towels and linens, the hall closet is large and there is additional storage in the garage. Garage parking. Great location, near Polk and Fillmore Street shops and restaurants, close to MUNI and corporate shuttles. Perfect!

Sold
$830,000

Jane helped my husband and I land our dream home, and stay in San Francisco. 

We started working with Jane after the birth of our first son. We lived in a condo in the Mission at the time. We discussed selling the condo, and Jane suggested holding on to it if we could swing ..." [read more]

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

Beautiful Condo in Hip, Sunny Mission!
Flexible floor plan Three bedrooms Split Bath Leased Parking Awesome Kitchen Shared Garden
$799,000

This six room home has a flexible floor plan, great light and gleaming wood floors.  The cook’s kitchen in the rear is well designed and has a Bertazzoni range and a Bosch dishwasher.  It is adjacent to a great room, with built-ins, a decorative fireplace and plantation shutters, which can be used as dining and living space.  A formal living room, three bedrooms and a split bath with a gorgeous furniture-style vanity and sink. In unit laundry. Leased parking, paid through the end of the year is available across the street. Recently formed home owners association currently splits expenses. Sweet, shared yard. Company shuttle busses, BART, Muni, shops and restaurants are nearby. 

Sold
$925,000

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...

Private Shuttle Busses in SF
The bidding in San Francisco continues at a furious pace.
Buyers flock to the few nice properties available for sale in the city, and many have written offers well above the asking price--10%, 20% and higher!  I've had clients compete in bids with 15+ offers, but the norm for us is often around 10 bidders per property.  There are several reasons for the shortage of inventory that has created a huge imbalance in our local real estate market: 
Strong economy with...

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