R Lee, Home Seller in Dublin, CA

How is the condo situation in Mission Bay? Has the area been affected by the housing correction?

Asked by R Lee, Dublin, CA Sun Sep 23, 2007

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Jed Lane’s answer
Most San Francisco properties are not really subject to national cycles. We are insulated from it to a large degree. In other words San Francisco is unique, but that's why we live here. Mission Bay and SOMA will be affected by the greater market force of supply. Ruben, if you're selling in the area your competition is not only every other resale in the area but all the new product that is available or is coming soon. Right now the availability of credit is a larger concern because our entry level housing is over the conforming loan max and jumbo loans are not as plentiful.
Web Reference: http://www.jedlane.com
0 votes Thank Flag Link Mon Sep 24, 2007
Jed Lane, Real Estate Pro in San Francisco, CA
MVP'08
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There are currently about 50 condos available in the Mission Bay area; most of them are in five major developments. NAR reported condo prices in San Francisco as a whole to have dropped just over 5% from the second quarter to the third quarter so it seems prices have been affected. In this area in particular they also tend to have a longer time on the market than average.

Having said that, this area is not yet fully developed, and there are some very interesting things coming up that are getting a lot of attention. One is the building Arterra which is set to be San Francisco's first LEED certified residential high rise. Also the UCSF reasearch campus, once finished, will no doubt breathe life into the area. I just wrote about this area and the various developments in my blog; feel free to take a look. http://www.sanfranciscohomes.blogspot.com
Web Reference: http://www.vafenton.com
0 votes Thank Flag Link Sun Sep 23, 2007
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