Posts Tagged ‘san francisco’
March 21, 2010
Current observations of the San Francisco residential real estate market (written on 3/21/2010):
1) Following the market crash of late ’08, confidence slowly began trickling back into the marketplace beginning in April 2009. Sales picked up through the summer and carried strong through the end of the year.
2) Many experts have called the “bottom”, but our view is that “bottom” takes place at different times for different price brackets. The low end of the market tends to feel the pain and hit bottom first, while the higher end of the market hangs on a little bit longer. Commercial lags everything, and may not hit bottom for a year or two.
3) The sentiment in today’s market is much better than around this time last year. Many new sales and pendings have led to the lowest MSI (months supply of inventory) on record in over two years. See the chart below:
Months Supply of Inventory (MSI) - Local vs National - click to enlarge
4) Current inventory levels are 17% Read the rest of this entry ?
Posted in Glen Park, Macro-Level Info, Market Check Up, Neighborhood Info, Nerdy RE Analysis | Tagged 1167 bosworth, months supply of inventory, msi, san francisco, san francisco real estate | 1 Comment »
January 6, 2010
Why the double asterisk? We’ll get to that in a moment.
Sales Volume Comparison (click to enlarge)
Observations:
- Single family home sales have been on the decline since 2003 and appear to have bottomed (or at least flattened) in ’08 & ’09.
- Condo sales volume tends to be more sensitive to market changes (hence the bumpier road) and continued to decline in ’09. Declines have been consistent since 2004.
- TIC sales volume has steadily increased over time, with a big push around 2004/2005, as Fractional Lending products became available. TIC volume dipped during the downturn along with other property types, but appears to have flattened.
Now, for those asterisks. As we zoom in and take a look at 2009, Read the rest of this entry ?
Posted in Macro-Level Info, Market Check Up, Nerdy RE Analysis | Tagged macro trends, sales volume, san francisco, san francisco real estate | 5 Comments »
August 26, 2009
Another light week on the Tuesday tour… which is the calm before the post-Labor Day storm. Only four properties made four stars this week and one posted five.
Back yard of the week was a tie between 1871 Green and 946 Elizabeth. We had trouble deciding which one we’d rather be chilling in. 1871 Green is definitely a little more, well, green, and 946 Elizabeth has a fantastic patio with better sun. Both have their strong points and are pictured below.
1871 Green's back yard is something out of a fairy tale.
This photo under-represents the back yard at 946 Elizabeth, but we'll attest, it's gorgeous.
Sun drenched patio at 946 Elizabeth.
For the four and five star ratings of the week, continue reading. Click the bold address for additional info on any given property –>
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Posted in Public Listings, Show-Stoppers | Tagged amazing homes, brokers tour, homes for sale, san francisco, san francisco real estate, tuesday tour | Leave a Comment »
August 6, 2009
From the local accounting firm Bertorelli, Gandi, Won & Behti:
Economic and tax considerations make right now a super-favorable time for parents (and grandparents) who are willing and able to help their adult children make first-time home purchases. Home prices are low, interest rates are low, and the tax factors are almost unbelievably beneficial. How long this ultra-good scenario will last is anyone’s guess, but we would bet not too much longer.
Make sure you negotiate a good interest rate. And for God's sake, clean yer room!!
To view the entire article, continue reading –> Read the rest of this entry ?
Posted in Home Buying, News, Tips | Tagged 2009 taxes, family loan, gift tax, san francisco, san francisco real estate, tax deductions, taxable income | Leave a Comment »
August 5, 2009
Welcome to another edition of Tuesday Tour Show-Stoppers! This week was a little light on new listings but we saw a few goodies out there. Let’s start off with the View of the Week winner.
289 Chestnut is a multi-unit TIC building situated on Telegraph Hill. The view from unit #3 was quite spectacular, but it’s the roof deck on the building that wins this week’s award. A small sliver of the view is pictured below, the Golden Gate looking larger than life. The views at 3785-87 16th Street came in a close second.
The roof deck at 289 Chestnut wins view of the week
The Backyard of the Week Award goes to 2221 Baker in Pacific Heights. This grand home has a very peaceful setting out back, including a patio, hot tub, lush lawn, and beautiful landscaping. The sound of a trickling fountain meets your ears as sun shines down on the deck. Second place was 2339 Green, which also has an incredible backyard, but not the number of features of 2221 Baker. If you’re after privacy however, 2339 Green would be the choice.
2221 Baker wins backyard of the week
Now for those 4 and 5 star ratings. Keep in mind, just because we think a home’s got a lot of great attributes doesn’t necessarily mean we agree with the price. Four stars = Excellent and Five stars = Superb. On with the list!
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Posted in Public Listings, Show-Stoppers | Tagged amazing homes, homes for sale, nice properties, san francisco, san francisco real estate | Leave a Comment »
July 27, 2009
Ready for the Top 5 Listings that have sold this year? We figured it would be a good time. The luxury market, although battered and bruised, has loosened up a little since March. Take the $4 million + price bracket, for example. In the first quarter there were only 5 sales of homes in this range. Since then, there have been 16 sales of $4 million or more city-wide.
Sales on the uber-high end tend to have undisclosed sales prices. That’s why we can’t call this the “Top 5 Sales in 2009″, but rather, the “Top 5 Listings That Have Sold in 2009″. When we search the MLS, the sales price will be the same as the listing price, with an asterisk beside it. It’ll say something like: List Price $5,000,000. Sales Price $5,000,000*.
So what does that mean? Why are people hiding their sales prices in MLS? I’m sure there are a number of reasons, the obvious one being to protect one’s privacy when it comes to wealth. Although the sales prices are undisclosed in the MLS, you can often find them at Property Shark or by going to City Hall and perusing their files. Out of the 21 sales over $4 million this year, 13 of them have “undisclosed sales prices”.
Interestingly (but perhaps not surprisingly), all of the homes on our list are in Pacific Heights or Presidio Heights, and all are single family homes (not condos or co-ops). They are all within a few blocks of one another. Here’s a map:
The top sales in SF are just blocks from one another.
All right, enough with the how-to’s and why’s, lets hammer this thing out. Read the rest of this entry ?
Posted in Countdowns & Rankings, Pacific Heights, Presidio Heights, Public Listings | Tagged luxury homes, luxury market san francisco, most expensive homes, Pacific Heights, Presidio Heights, san francisco, san francisco real estate | Leave a Comment »
July 26, 2009
Fresh back from a jaunt to Seattle for some much needed R&R, we’re here with our Quarterly Report. A lot of scenes unfolded in Q2. Below is the scoop:
Click HERE for a convenient 1-page PDF document you can print and take with you.
The first half of '09 is over. What wisdom has shone through? (photo courtesy of travel.internetindia.com)
The first half of 2009 is officially history and we have some general observations about the real estate market. Three dramas are currently playing themselves out which can be discerned by dividing the market into three segments; the high end (luxury market), the middle, and the low end.
The luxury market held out longer than any other segment during the downturn, but has now made up for lost time and is experiencing drastic price reductions. It has not yet stabilized, and it could be some time before it hits bottom. The availability of reasonable jumbo loans has played significantly into the fate of the luxury market, making it tough for things to improve. In San Francisco, the luxury market includes homes priced at $2M+.
The low end of the market has shown the most activity in 2009, and it is safe to say that it seems to be stabilizing. It was the first to react to the downturn, and will be the first to stabilize. Homes in San Francisco priced below $750,000 generally fit into this segment.
The middle market is a mixed bag of tricks. There is a gradient of decreasing stabilization as you move from the $750,000 price point up to $2M.
Overall, sales activity in Q2 has picked up quite significantly from a dismal Q1, but is still down year over year. City-wide, prices are down year over year anywhere from 10% to 35%, depending on the neighborhood. Neighborhoods with high foreclosure rates (those south of I-280) have been hit harder than those in the northern parts of the City. Inventory levels also play a major factor in how specific neighborhoods are holding up. Those with a glut of inventory fell harder than those with tight inventory.
Stemming from these observations, we have some of advice that you may find helpful. Read the rest of this entry ?
Posted in Home Buying, Home Selling, Quarterly Reports, Tips | Tagged q2 2009, quarterly report, real estate trends san francisco, san francisco, san francisco real estate | 5 Comments »
July 22, 2009
A new service now exists for people trying to sell their homes but A) don’t have any furniture in their homes, and B) want to save big bucks on staging.
What’s this service called and how is it done? It’s called “Virtually Staging Properties“, and it’s done by placing 3D renderings of furniture, accents, and other odds and ends on top of real property photos. Here, have a look:
Empty Dining Room - Before
Empty Dining Room - After
So what are people saying about Virtually Staging Properties? Reactions range from Read the rest of this entry ?
Posted in Home Selling, News, Tips | Tagged 3d renderings in real estate advertising, home seller tips, real estate marketing, san francisco, san francisco real estate, selling homes, virtual staging, virtually staging properties | 1 Comment »
July 22, 2009
What… did you think we were talking about PBR, the beer? So sorry to disappoint. We were actually referring to the FHA beating their Personal Best Record. The Federal Housing Administration (FHA) backed nearly 186,000 loans in June 2009, the most ever during its 75 years of existence. To clear any confusion, the FHA doesn’t actually make loans. They Read the rest of this entry ?
Posted in News | Tagged fha, FHA loans, government backed loans, pabst blue ribbon, san francisco, san francisco real estate | Leave a Comment »
July 22, 2009
Greetings beloved readers! We’ve been very busy doing a little blog “housekeeping” here recently and have rolled out some neat features. Here is the breakdown:
New features? Exxxxcellent.
As usual, there are many ways to subscribe to our articles up top. To subscribe to InsideSFRealEstate and have info pushed to you whenever it’s hot off the press, click any of the links and follow directions.
There is a link to “Follow Us on a Real Time Map”, which we’ve left untouched. This is a cool techno-gadget that takes GPS info from my BlackBerry and updates a Google Map in near real time. You may wonder if I mind having my privacy invaded. I assure you Read the rest of this entry ?
Posted in About Our Blog, Announcements | Tagged inside san francisco real estate, inside sf real estate, insidesfre, insidesfrealestate, new features, san francisco | 2 Comments »
July 20, 2009
We’ve been hearing a lot lately about seemingly irresistible prices at some San Francisco (and Bay Area) developments. We won’t call them out by name, but we will offer up a bit of advice to those who are easily lured by ridiculously attractive pricing.
While it’s true that your purchase price is a very important part of acquiring real estate, it isn’t everything. Who cares how cheaply you scooped up a property… if you can’t sell it 5, 10, or 15 years from now because it isn’t appealing to the market, your “investment” serves you no good. Desirability is the name of the game. You’re better off investing in a home that people will find absolutely irresistible when you’re the seller, rather than thinking strictly in terms of price and discounts.
It’s true, even in today’s down market, you may end up competing for those special homes. But you’re buying a little extra insurance that when you one day become the seller, you’ll have a liquid asset that others will be crawling over each other to buy. And as a seller, there’s no better position to find yourself in.
So while you may run across those “builder closeouts”, “slashed prices”, and “everything must go” sales, keep in mind that there is a reason those properties are having to resort to such aggressive sales tactics. It’s because no one wants them! And the only card the seller has left to play is to drastically reduce the price, lure someone in, and sell them an illiquid piece of crap. Beware when you see these words in real estate advertising. If you’re going to be lured by anything, be lured by quality homes in quality locations. Good luck out there.
Watch out for the pricing lure. It looks yummy but it'll kill ya.
For more home-buyer tips, click HERE.
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Posted in Home Buying, Tips | Tagged baiting buyers, builder closeout, home pricing, liquid investment, san francisco, san francisco real estate | Leave a Comment »
July 17, 2009
We’ve written about it time and time again, but the high end of the real estate market is feeling the pinch of the downturn and will likely take a long time to stabilize. Here’s an article from USA Today citing some causes for the slowdown in the upscale residential market, and how this has impacted real estate, retailers, and the overall economy.
The high end seemed to show resilience when everything else was crashing and burning around it. But now we’re seeing that it is not immune, it just held out longer. And it won’t correct quite as fast as the low end… which is showing signs of stabilization right now.
Take a look at the full article HERE.
Even America's wealthiest are changing their ways, dining on dollar menus.
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Posted in News | Tagged luxury market trends, market stabilization, san francisco, san francisco real estate, upscale market | Leave a Comment »
July 17, 2009
We recently built some spreadsheets for a client who is looking to purchase a condo in Alamo Square, and as part of our due diligence, ran some trending analysis for them. Alamo Square is a tiny neighborhood with few sales, so finding trends in the area is a tough assignment. We had to think through adjacent areas that exhibit similar traits, both from a residential and commercial standpoint. We determined that Hayes Valley, NOPA, and Lower Pacific Heights were similar enough (and also located in MLS District “6″) to lump together with Alamo Square and see what the overall trends were.
Cue the "Full House" intro...
So that’s what we did… we looked at median sales prices for condos in these ‘hoods dating back to 1995. We wanted to include 2009, so we capped each year at July 15th, controlling for seasonal fluctuations. We also inflation-adjust the medians, so we could see market movement isolated from the changing value of the dollar.
The last step was to look at the same trends for San Francisco’s condo market as a whole, and place the two lines on a graph to see how similar (or dissimilar) they were. What resulted was pretty interesting, and you can see the charts by continuing to read –>
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Posted in Alamo Square, Hayes Valley, Lower Pacific Heights, Micro-Level Info, Neighborhood Info, Nerdy RE Analysis, North Panhandle | Tagged 2009, Alamo Square, Hayes Valley, lower pacific heights, median trends, nopa, san francisco, san francisco real estate, trends | Leave a Comment »
July 15, 2009
What is a pocket listing? A pocket listing is a home that is not being advertised to the general public through the MLS or a listing that will come on the market in the future but right now is still a secret. Many homes in San Francisco sell while off the open market, so pocket listing culture is a big deal. Each week, we’ll be sharing info about pocket listings that we know of (most of them anyway- some have to remain completely confidential).
Information on pocket listings is sparse and secretive, so pardon us if we seem short on details for the purposes of our blog. If you are interested in learning more about a particular listing you can click HERE to contact us. Without further ado, here are this week’s pocket listings:
- Out of our pocket and over to you
To see this week’s pocket listings, continue reading –>
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Posted in Pocket Listings, Tips | Tagged not on mls, Pocket Listings, private listings, san francisco, san francisco real estate, secret listings | 3 Comments »
July 15, 2009
The perennial “July lull” in the local real estate market is just about over as we saw many new listings come out this past week. It’s a shame our Tuesday Tour was abbreviated due to prior engagements, but we still managed to see a number of new offerings in Districts 6, 7 and 8. Here are some of the homes that struck us as “excellent” on tour this week – all receiving 4 out of 5 stars.
There's something about the first part of July that makes agents lazy.
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Posted in Public Listings, Show-Stoppers | Tagged brokers tour, excellent homes, homes for sale, nice homes, san francisco, san francisco real estate, tuesday tour | Leave a Comment »
