Home Buying in Noe Valley>Question Details

John, Home Buyer in San Francisco, CA

Do you think there is still upsight in buying a home in Noe Valley?

Asked by John, San Francisco, CA Wed Mar 26, 2008

I am thinking of buying a house in San Francisco and Noe Valley is one of my favorite areas. Given the prices though, i am wondering if this neighborhood will continue to appreciate or if it already reached its peak. What do you think?

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7
There are a lot of qualified buyers looking right now, so I think the market will actually go up a bit this year... BUT, there is no guarantee of that.... so my opinion is that your confidence in buying should go up in direct proportion to the amount of time you think you'll live in that home.

Noe Valley will appreciate, or depreciate, at much the same rate of every other desirable and highly sought after San Francisco neighborhood. While I'm in the camp that says prices will keep going up.... I would advise against buying if you think you'll only be in the home a couple of years.

But, in my opinion, you'll be kicking yourself in 10 years if you don't buy today. But in 1 or 2 years??? You need about 7% appreciation just to break even after Selling costs.... and while 7% is not out of the question even for this year alone, I wouldn't advise you to buy unless you know you'll be there at least a few years.

So..... are you ready to make Noe your home for a while, and can you afford something today that you'll be happy with 5 to 10 years from now????

If so... now is the time to buy... April thru June is when you have the most options as a Buyer. Check out my site for various home search options, including an email property alert service.
Web Reference: http://www.SFisHome.com
1 vote Thank Flag Link Sat Mar 29, 2008
As an agent who lives and works in Noe Valley, yes there is. When you look at the characteristics of Noe Valley, it is all excellent for a great majority of all buyers in the price range. An upscale neighborhood with beautiful architecture, views and weather with great shops, restaurants, etc. and some of the safest streets in The City. And many homes have fantastic views as well.
Web Reference: http://www.sfcondomap.com
1 vote Thank Flag Link Wed Mar 26, 2008
How long do you plan on living there?
Web Reference: http://thefrontsteps.org
0 votes Thank Flag Link Tue Apr 1, 2008
John,
Noe Valley is very desirable for a large demographic of young professionals anf families. The same things that draw you and are mentioned by my associates will continue to draw others. Simple demand and supply will cause the property values to continue to rise.
0 votes Thank Flag Link Thu Mar 27, 2008
Jed Lane, Real Estate Pro in San Francisco, CA
MVP'08
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Noe Valley is one of the most desirable neighborhoods of San Francisco based on a number of factors. In addition to Scott's answer below, it is centrally located in SF, suits families and sinlge professionals alike. Here is a statistic for you: over 80% of homes that sold in the last 6 months sold within 60 days or less and had an average selling price of over 4% above the asking price. This indicates that this neighborhood is still thriving despite what's going on with the subprime meltdown/credit crunch in the rest of the country.

So to answer your question of what I think - I think it will still continue to appreciate. However, the next couple of years may not see as high of an appreciation rate as in the past several years.

Hope this helps and let me know if you'd like more statistical facts about this or other neighborhoods in SF.
0 votes Thank Flag Link Wed Mar 26, 2008
We all want a crystal ball however historically over the past 30 years, single family homes have appreciated an average of 8% a year. This average takes into account the peaks and valleys of the market. San Francisco is a unique market in that it is only 7 square miles, the weather is temperate, it will likely remain a destination city nationally and internationally, AND single family homes are not being developed anymore. (or very few are developed in the city).

Noe Valley has some of the best weather in the city and is a great family neighborhood.

Hope this helps!

Jenn
Web Reference: http://www.jenndavis.com
0 votes Thank Flag Link Wed Mar 26, 2008
Sure! If you found your dream home in a neighborhood you love then go for it! You can not put a price on happiness. Also, inflation will always occur. The Real Estate market, just like the stock market has it's ups and downs.
Web Reference: http://www.727sold.net
0 votes Thank Flag Link Wed Mar 26, 2008
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