In a recent report generated from MLS data, we have been able to determine the percentage of decline of home values from their peak. I thought I would share some of the highlights. (Date is a reflection of Condo Sales.)

Noe&Eureka Valley - Peaked 2008 - Down 7%

Pacific Heights/Marina - Peaked 2008 - Down 7%

South Beach - Peaked 2008 - Down 9%

Hayes Valley/Alamo Sq/NOPA - Peaked 2008 - Down 10.5%

SOMA - Peaked 2007 - Down 22.5%

For Buyers: This is a great time to buy if you are in a position to do so. Interest rates are low and prices are continuing to decline. Don't be scared of rapidly declining areas of the city however talk with your agent about a strategy for getting the BEST deal.

For Sellers: Be smart about choosing the right listing agent! A good agent will tell you that this is not the best time to pur your home on the market. If you have no choice and you have to sell, start and open dialogue about pricing strategy. Buyers are looking for deals and a good agent will know know to market your property to that buyer pool.

Please feel free to contact us for more information.

James Testa
Paragon Real Estate Group
415.515.6097
jtesta@paragon-re.com
www.jamestestaonline.com