A lot of great answers here and a few differing opinions it seems. The "right time" to buy is always going to be dependent on your situation of course, but in my opinion assuming you're in the market already, I think this is a GREAT time. We're starting to reach the end of the busy summer/fall season, but inventory is creeping up. With a slight change in inventory coupled with yet another dip in rates (back to low 4.x%) I think this will be the last opportunity to get in the market until next year sometime, at which point we don't really know how hot the market is going to look then.
I hope this answer helps! If you have any other questions regarding real estate please donâ€™t hesitate to reach out. Iâ€™m always happy to be a trusted resource for all things real estate in San Francisco and the Bay Area.
All the best and good luck!
Realtor, Vanguard Properties
These are all good questions.
As far as the market 'slowing down' I would say yes AND no. Depending on the areas of interest, they started to slow and in others, they have remained the same with, sometimes, fewer offers than we had seen maybe 3-6 months ago.
When you talk about a good time to buy, it is clearly a case-by-case story. However, the purpose of buying real estate, for most, is to build equity and create wealth. Some buyers can clearly benefit from purchasing vs. giving money away to a landlord each month which is why so many have decided to do just that in SF given the extremely high rental prices were currently experience.
Personally speaking, I would buy now. Depending on where in the city you would like to buy will determine the particular buying strategy you'll have to use.
Also, you should know that there is a very large off market inventory in San Francisco - if you're only seeing properties listed on the MLS you're missing out on a lot - and the only way you can see those properties is working with an agent/broker who has access. If you would like more info on that our contact info is below:
Lance R. King - Founder/Managing Broker
King Realty Group
DRE # 01384425
415.722.5549 - Cell
Oggi Kashi - 415.690.3792 direct
Broker Associate, Paragon Real Estate Group CA BRE 01844627
All data from sources deemed reliable but subject to errors and omissions, and not warranted.
We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (630) 639-1081.
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There is definitely a slow down in some neighborhoods of the city. However, I submitted two offers in the past two weeks and there were still many offers submitted for the properties.
It is a great time to buy depending if you like the property and of your situation.
I hope this answer helps you and please let me know if you have any other questions.
As to the question, is it a great time to buy. The time to buy is when you find a property you like and can see yourself living in. Inventory is still very low, so finding that one property is still going to take sometime.
I would absolutely buy right now.
All the best
BRE No. 01188380
Zephyr Real Estate