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Market Conditions in San Francisco : Real Estate Advice

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  • Home Buying997
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Activity 128
Wed May 7, 2008
Marjet Wolbertus answered:
Depending on your location, looks like you are in the Richmond District. The market is still very strong. In some areas of the city we are still competing with buyers on properties receiving multiple offers. Especially in the lower price ranges, of course always depending on the location. If you would like more specific answers we can provide you with a market study for the last 3 months showing you prices and length of time it takes for a property to sell! My email is marjetwolbertus@sbcglobal.net ... more
0 votes 2 answers Share Flag
Mon Jun 28, 2010
Jed Lane answered:
Per,
You have to understand the formula used in any data. Case Schiller uses the greater bay area and calls it San Francisco. It looks at sale information on previously sold single family homes. Tracking the difference between the price in the past with the price today on each individual property and then averages the difference.
What will prevent San Francisco real estate from dropping is the classic law of supply and demand. If Case Shiller looked at San Francisco single family homes they would not be able to report wildly huge numbers that.
I just ran a comparison for March 2007 and March 2008 for single family homes sold in SF. In 2007 205 homes sold with the average price $1,239,278. In 2008 151 homes sold with the average price $1,202,134. The average price is down 3%.
Now let me point out that even within that stat is a story. Average can be swayed by individual sales. Was there a 25 million property reported on month that affects the average. Median is also moved by the same factors.
My point is that when you or any person just looking wants to know what is going on talk to the professionals. The focus of our time is spent on understanding what is going on in the market and being able to decipher the numbers so that you can make decisions based on knowledge.
... more
0 votes 39 answers Share Flag
Sat Jun 19, 2010
Sylvia Barry, MAS,CIPS,SRES answered:
O.K. Alex, if you are talking about Oakland, than I want to suggest Novato, Marin County. You can definitely get a house for $550K now here; get your privacy with a 3/2, up to 1500sf house, 2 car garage, yard, etc.

And the best? We have a great performing art community, tons of musicians, Jazz, Rock, Traditional, biggest rock and blue fundraiser in the country (Not that it says the kind of music we play, but just the fact that we pull this off all by volunteerism and a love for music)

http://www.rocknbluesbythelake.com/

Here is a link to article about Novato
http://www.sylviasellsmarin.com/Novato+selected+as+Best+Affordable+Suburbs+in+California+by+Business+Week

Go to my site, then you can find out about Marin/Novato.

Sylvia
... more
0 votes 16 answers Share Flag
Tue Apr 1, 2008
Amw answered:
I'm just someone starting to hit the market, have researched to the point of obsession, have two SF agent friends and talked real numbers with 3 mortgage brokers...Oh, and lived in the City for 12 years and walked away from the market 3 years ago when I was looking in lower haight/hayes so I know some it. So, I'm no licensed pro, but my educated research answer to you is NOTHING!!! Those neighborhoods mostly attract younger buyers who - believe me on this - will not get financed right now. The lenders have pulled back even more in the past week (first hand - I have over 20% to put down, perfect credit and no debt and having trouble getting a good product for a bid this week). Don't offer over - do your homework and you'll come to this same conclusion and check on financing. It's a different game now and changing every day. There are lots of places to check neighborhood comps on line and your agent should do it for you as well. This is a market where having '05/'06 mentality will make you lose money. Good luck, it's an awesome spot! ... more
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Tue Mar 18, 2008
Jed Lane answered:
I don't have that information here now but I will post it Monday when I get back to my office.
0 votes 2 answers Share Flag
Sat Mar 8, 2008
Melanie Narducci answered:
Potrero is a great community and neighborhood with restaurants, small shops and now a new Whole Foods. It's one of the sunnier parts of the City and the South Slope has fantastic City and Bay views. Being within walking distance of the retail on Mariposa would be ideal. ... more
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Tue Mar 4, 2008
Mario Pinedo, Ccim answered:
Jeff,
Please provide more info on what type of commercial services you are interested in (leasing office, retail, purchasing investment property, apartment buildings, etc). I can direct you to some great agents in SF. ... more
0 votes 3 answers Share Flag
Sun Mar 16, 2008
Melanie Narducci answered:
I'm available on Friday and part of Thursday; feel free to email me your budget and other parameters at melanie@condocontessa.com.
0 votes 8 answers Share Flag
Mon Mar 3, 2008
Gregory Hayes Garver answered:
Wed Feb 6, 2008
Jed Lane answered:
Janis,
Potrero Hill is caught in the Eastern Neighborhhods Planning process as we speak. This plan is being worked out to change zoneing to maintain some of the light industry and jobs here is the City. Until that gets finalized, it is my understanding that things are on hold. The only large open space was the S&C Ford facility that was used to do the condo's where the Whole Foods is.
The other land is the current sit of the housing authority properties. The plan there is part of HOPE SF to develop mixed-income housing. Obvbiously in the meantime Mission Bay and the area around UCSF but before Dogpatch is in full swing development wise.
Check the Planning Department web site for information on the Eastern Neighborhoods process.
... more
0 votes 2 answers Share Flag
Tue Feb 5, 2008
Alan May answered:
Katherine, be very careful what you wish for. :-)
0 votes 1 answer Share Flag
Mon Jul 28, 2008
Gregory Hayes Garver answered:
It will bring the values down. Which units are you looking at on Berry? Some are offerning large commissions to brokers. Make sure you get some concessions.
0 votes 5 answers Share Flag
Mon Mar 3, 2008
L answered:
Appreciation can be tracked by looking at what sold in these areas, taking statistics from the MLS and looking at market trends in these neighborhoods. I can provide you specifically these values/statistics for each neighborhood, please let me know, providing you are not already working with a real estate agent.
--Lisa
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0 votes 2 answers Share Flag
Fri Feb 22, 2008
Patti Phillips answered:
Julia, I wouldn't suggest it to any of my clients. I have seen some on the market recently where people thought they were going to do that, they sit, and the price comes down, down, down..... One that I had on the market got bought by an investor---- poured--- I can't IMAGINE how much money into it (cracked slab, you name it) Now it is on the market for LESS than we sold it to him for, and not moving!

Don't do it!
... more
0 votes 20 answers Share Flag
Fri Feb 8, 2008
Gregory Hayes Garver answered:
Thu Jan 24, 2008
K Feat answered:
Hi Daniela,

Some of the costs can go up or down based on finishes, permitting, plan development, etc. A very rough number that I've heard lately is $190-200 (or more) per square foot for construction/additions. Other factors, as mentioned above can come into play. For example, if you add over a certain square footage, there are "taxes" that the San Francisco levies onto a project.

It would be best to begin talking with some contractors or architects to give you a more accurate figure. Myself or other realtors on Trulia can give you a variety of referrals.

Good luck!

-- Kevin
... more
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Tue Feb 12, 2008
Gregory Hayes Garver answered:
Are you asking what percent of new residents actually purchase property and stay in the area for say more than ten years?
0 votes 4 answers Share Flag
Thu Jan 10, 2008
Scott Pierce answered:
Of course every situation is unique, but this is not a building that is on my A List to show clients. I just think there are better choices than this building. Just my $0.02 worth.
0 votes 5 answers Share Flag
Sun Dec 30, 2007
K Feat answered:
Hi Fred,

Obviously, realtors, like myself have access to MLS data for previous sales for SF neighborhoods. I'm a data junkie, so I like to look through various information on sales, days on market, etc. when researching for clients or myself. I'm also a big fan of socketsite.com which has some great data and trends. The Tax Collector and Treasurer's office on sfgov.org may also provide some information. I like AlstosResearch as well. Here's a link: http://www.altosresearch.com/research/CA/SAN+FRANCISCO. Finally, Inman News is a good source, but may not be as micro as you'd like. Here's the link: http://www.inman.com/. Of course, I'd be happy to help if you'd like.

Best regards,

Kevin
... more
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