Home Buying in San Francisco>Question Details

Andrew Kral, Real Estate Pro in Concord, CA

I see that home purchases are picking up, when do you think home builders will get back into full swing?

Asked by Andrew Kral, Concord, CA Fri Jun 7, 2013

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In the San Diego area we're seeing builders tip-toeing back into the frey with guarded caution. Nothing too outlandish or awe inspiring yet. That stated San Diego is more than 65% built out leaving slim pickins for lavish and expansive development. Not to mention all the Hell hoops and entitlements you need to jump through.

Lot's of little projects popping up and reservations for them mounting up. In a way I'm sorta glad to see this happening. It's better than the alternative. The projects that are going up, at least in my farm, (North County Coastal) are higher end in nature.
1 vote Thank Flag Link Fri Jun 7, 2013
I live 2 miles from a new development and ALL the homes in the block being released now are selling above the listing price.
As a land finder for several developers, my phone rings three or four times each week with land acquisition managers pleading with me to find them land to build on. I've found plenty of land, but few owners willing to sell it. This is the common story in Bay Area real estate - lots of buyers, few sellers.
1 vote Thank Flag Link Fri Jun 7, 2013
Andrew,
The home builders are back at work in the City. You can see construction everywhere, mostly condominium towers being built in many locations along Market Street, Van Ness. Some of them will be rental properties. The condominiums are also selling quickly before construction is completed.

I have notice similar situation in the East Bay, I noticed Emeryville has many new projects going on.
0 votes Thank Flag Link Fri Jun 7, 2013
It's already happened here in SF. You can't walk down a block anymore without seeing new condos being built.
Some are being built as rentals but not that many.
Everywhere you look there are recently built condos or towers currently under construction.
0 votes Thank Flag Link Fri Jun 7, 2013
It'll probably take another year. Builders are more constrained by lack of buildable lots and financing than demand.
Web Reference: http://www.archershomes.com
0 votes Thank Flag Link Fri Jun 7, 2013
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