i need to know what the market conditions are in this SF Bay area at present?

Asked by George Sparsis, Sydney, CA Fri Mar 22, 2013

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Michael Minson’s answer
Michael Mins…, Agent, San Francisco, CA
Mon Apr 22, 2013
It's a great time to sell. Inventory is at an all time low and prices are rapidly appreciating. Multiple offers are offers over the asking price are common. The SF unemployment rate is low and many of our residents are directly benefiting from the strong stock market. This means buyers have money to spend. According to the SF Association of Realtors, about 30% of purchases are being made all cash.

If you're a buyer, you need to be aggressive with your price and terms (financing and inspections), make sure you're fully pre-approved with a local lender, and have at least 20% for down payment. Interest rates just dropped again this week and there are some amazing properties on the market (just not a lot of them), so it's a pretty good time to buy, too. It's not impossible to get into the market right now, but it can be frustrating and will likely require writing multiple offers to get a property.
0 votes
Alison Hillm…, , San Francisco, CA
Mon Mar 25, 2013
Hi George,

Take a look at the Market Trends in SF: http://www.trulia.com/real_estate/San_Francisco-California/m…

Hope this helps!

Ali, Community Manager
0 votes
Steven Minch…, , San Francisco, CA
Fri Mar 22, 2013
great time to sell
Hard to buy low inventory, high demand and bidding wars. The best way to win a bid is by doing sharp bids. This allows buyer to decide in short time to take the property or leave it.
Very active real estate market.
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