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Nancy Corsaut, DRE# 01170376's Blog

By Nancy Corsaut | Agent in San Francisco, CA
  • Affordability crisis - yes, housing bubble - no!

    Posted Under: Market Conditions in San Francisco, Home Buying in San Francisco, Home Selling in San Francisco  |  August 15, 2014 10:48 AM  |  52 views  |  No comments
    According to some experts, San Francisco is facing an affordability crisis, but not another housing bubble. Urban think tank SPUR and Trulia's Chief Economist explain the difference in this article.

    They go on to say that the problem is simply, Economics 101 - low supply and high demand.  A bubble will eventually pop, but unfortunately an affordability crisis can linger for long periods of time.  It's doesn't seem like there is any relief in sight for weary San Francisco buyers.  

    The good news is nothing lasts forever!
  • Median Rent in SF for a 1 bedroom is now $3,120 - WOW!

    Posted Under: Market Conditions in San Francisco, In My Neighborhood in San Francisco, Rentals in San Francisco  |  August 14, 2014 7:56 PM  |  63 views  |  No comments
    We all know that rents have been skyrocketing in San Francisco for years now, but the latest statistics are quite unbelievable!  

    Not surprising that Hayes Valley tops out the list as the most expensive for 1 bedroom rentals with a median rent of $3,750.   Also not a surprise that Bayview is at the very bottom of the list with a median of $1,425.  

    Click here to see where your neighborhood lands in the mix.


  • Just Sold - SOMA

    Posted Under: Market Conditions in SoMa, Home Buying in SoMa, Home Selling in SoMa  |  July 19, 2013 4:45 PM  |  584 views  |  No comments
    $76,000 over asking with multiple offers!  

    Previously a furnished rental, the seller staged this himself using his own furnishings.  He also spent many hours preparing the property for the market.  Painting bathrooms, installing a new light fixture, and so on.  He even provided fresh flowers for the open houses.

    Please contact me for more information about the SOMA market.



      
  • Latest sales information for San Francisco

    Posted Under: Market Conditions in San Francisco, Home Buying in San Francisco, Home Selling in San Francisco  |  April 24, 2013 2:56 PM  |  565 views  |  No comments

    Market Tracker Newsletter provides the most up to date citywide sales information for San Francisco. Also included in the newsletter is the article 'Spotlight on Hip Microhoods'.
  • Home Buyers - Strategies for a winning offer!

    Posted Under: Market Conditions in San Francisco, Home Buying in San Francisco  |  April 1, 2013 5:20 PM  |  540 views  |  No comments

    This article has some good pointers for home buyers, however, the Bay Area is a unique market and especially San Francisco!

     

    To make your offer one of the top 5, consider these additional strategies:

     

    Purchase Price - Be prepared to write your offer significantly higher than the list price

     

    In the last several months I have seen properties sell anywhere from $30,000 to a whopping $400,000 over asking, depending on the area and the price range.  If you are searching in the best neighborhoods and want a property that is in move-in or remodeled condition, the competition can be daunting.

     

    When you find a property you love and it is listed at $600,000, yet you are only approved for $625,000, my advice would be to look at less expensive properties.  Then you will have a cushion for over bidding if that particular property has multiple buyers lining up.

     

     

    Inspections - Schedule and pay for pre-inspections

     

    If you can stomach shelling out $400-$1000 for pre-inspections before you have even written an offer, then by all means go for it! This winning strategy will increase your competitive edge dramatically. 

     

    Obviously, this can get very expensive if you don't have the most compelling offer.  Many buyers just can't wrap their minds around this approach and instead make a point of writing in brief time periods for inspections.  A short contingency period would be 1-5 days, with less being more.

     

    If you are 100% sure you will be writing a highly competitive offer on a property, ask your Realtor to set up inspections before you actually make the offer.  Using this strategy will allow you to schedule/attend inspections and remove those contingencies a few days after your offer is accepted.  This will give the Seller peace of mind and show them that you are highly motivated and want a smooth transaction.

     

    Good luck!

  • A buyer's nightmare - new record low inventory in San Francisco

    Posted Under: Market Conditions in San Francisco, Home Buying in San Francisco, Home Selling in San Francisco  |  February 13, 2013 2:03 PM  |  567 views  |  No comments

    My buyer, Mr. X,  has grown used to the small selection of places available even though he keeps raising his price point.
     
    Earlier this month we wrote an offer on a gorgeous condo in a dream location. He really stepped up to the plate, offering $75k over asking with 55% down, for a 2 bedroom, 1 bath place.  His offer came in 3rd!  Ultimately he was offered 1st back up position just in case the buyer of the winning offer cancels the contract.  There was a catch to being offered 1st back up - his offering price was countered by $25k, so that is a grand total of $100k over asking and the winning offer was EVEN higher. 

    January's supply of housing inventory, stood at a mere 1.2 months, down from December's record breaking low of 1.4 months.  Let's hope we see more homes come on the market as Spring approaches.




  • Latest Sale Information for San Francisco

    Posted Under: Market Conditions in San Francisco, Home Buying in San Francisco, Home Selling in San Francisco  |  February 11, 2013 4:07 PM  |  424 views  |  No comments
    Market Tracker HTML Newsletter provides up to minute sales information for San Francisco as well as articles about local happenings in the City. If you would like to receive this newsletter delivered to your email every two weeks, please email me at nancy@zephyrsf.com.
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