The San Francisco Marina Real Estate Market Report - July 2008
August 19th, 2008 categories: San Francisco Market Watch, The Marina
Four properties were sold in the month of July in the Marina District, also known as District 7A in the San Francisco MLS. All data is pulled directly from the San Francisco Multiple Listing Service.
|
Sold |
List Price |
Sold Price |
DOM |
Address |
Bed |
Bath |
Sq Ft |
|
7/31 |
$499,000 |
$475,000 |
108 |
2367-A Bay St. |
1 |
1 |
N/A |
|
7/16 |
$979,000 |
$979,000 |
8 |
3515 Buchanan #306 |
2 |
2 |
1338 |
|
7/17 |
$1,325,000 |
$1,400,000 |
7 |
2165 Beach St #3 |
2 |
2 |
1614 |
|
7/28 |
$1,749,000 |
$1,749,000 |
38 |
3425 Divisadero St. |
3 |
2 |
2014 |
The following is a statistical breakdown of the above information: Read the rest of this entry »
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Why Your House is Still on the Market After 90 Days and What to do About it
August 18th, 2008 categories: Real Estate News, Selling San Francisco
Your house is still sitting on the market for one reason and one reason only. Price!
Any property will sell at the right price.
“But I need $____. I cannot sell below that price.”
I’m really sorry to break the news to you, but that is too bad. Unfortunately, the buyers do not care, and will not pay a premium because you need the money. Put yourself in the buyers shoes. If there were two houses that were exactly the same, and one was cheaper than the other, which one would you put an offer on? It’s that simple. It comes down to the numbers. Your home can have a number of problems, but it will sell at the right price. You have to take into account the condition, the area, the upgrades, check out the comparables, and price your property at a price that will attract several buyers. If you absolutely cannot go below a price that your home is not selling at, then take your home off of the market. You will save yourself a lot of time and hassle.
The Dangers of Overpricing a Property Read the rest of this entry »
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Learn How to be Safe in Your Neighborhood at The Lombard Neighbors Meeting
August 15th, 2008 categories: The Marina
The Lombard Neighbors Meeting is being held this Tuesday, August 19th, at the Comfort Inn by the Bay on the corner of Lombard and Van Ness.
Topic: Forming a Watch Group for your building or block.
The focus of The Lombard Neighbors is the neighborhood bounded by Van Ness, Greenwich, Gough, and Bay. Elly Mayen of SAFE will will be present to walk the neighbors through the process of launching a watch group. She will also talk about the various activities that one can perform to foster a safe neighborhood.
Everyone is welcome and invited. If you need more information regarding this neighborhood group, please feel free to contact me.
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Why Mortgage Rates Love the Fencesitters…
August 12th, 2008 categories: Buying San Francisco, Real Estate News
If you are in the market to purchase a home, and you are waiting for the market to hit rock bottom, then keep reading.
Two questions should linger in your mind:
How much more will the housing prices fall?
What will happen to the interest rates?
Let’s assume that prices will drop for another 6-12 months. If you are planning on purchasing with all cash, you can afford to wait. But what if you must finance your purchase? The following are hypothetical numbers.
Scenario 1:
- $50,000 down payment
- $500,000 purchase price
- 6.25% interest rate
- Monthly Payments = $2770,73 per month
So, you wait for the prices to drop. Check this out: Read the rest of this entry »
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Here’s a Quick Way to Sell Your House for More
August 11th, 2008 categories: Selling San Francisco
Staging a home that has been listed for sale can be the wisest decision that you can make as a seller. Not only will staging make the house more inviting, but it will also sell for a higher purchase price. According to a study by StagedHomes.com, homes that are staged sold for 6.9% more than homes that were not staged. They also stayed on the market half of the time of non-staged homes.
Whenever a buyer walks into a property they may potentially purchase Read the rest of this entry »
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San Francisco, California Real Estate - Condominium Market Statistics - July 2008
August 4th, 2008 categories: San Francisco Market Watch
Condominiums in San Francisco are a whole different animal than single-family homes for a variety of reasons. There are also several different types of condos in this unique city. The following are the statistics for sales of condominiums in the month of July in San Francisco. If you are looking to buy or sell a condo in San Francisco, please contact me for a more specific analysis. Remember, prices vary depending on factors such as: area, new or old construction?, potential for condo conversion, etc. These statistics show how the condominium market, as a whole, fared in the month of July.
| Beds |
Baths |
Square Feet |
List Price |
Selling Price |
DOM |
|
| Minimum |
0 |
1 |
491 |
$249,000 |
$210,000 |
0 |
| Average |
2 |
1.69 |
1,280 |
$888,763 |
$891,815 |
55 |
| Median |
2 |
2 |
1,142 |
$795,800 |
$795,000 |
40 |
| Maximum |
4 |
3.5 |
3,200 |
$3.495M |
$5M |
226 |
The following is the average DOM (Days on Market) breakdown and average % of List Price received on Solds by market time:
| 0-30 Days |
31-60 Days |
61-90 Days |
91-120 Days |
120+ Days |
|
| Number of Listings |
36.07 |
32.42 |
14.16 |
6.85 |
10.50 |
| Breakdown % |
36.07 |
32.42 |
14.16 |
6.85 |
10.50 |
| Average Sales Price % List Price |
102.20 |
100.75 |
98.38 |
96.79 |
97.64 |
Hence, the longer your property stays on the market, the lower the percentage of your list price that you receive will be. Also, remember that you are incurring costs while your property sits on the market.
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San Francisco, California Real Estate - Single Family Home Market Statistics - July 2008
August 1st, 2008 categories: San Francisco Market Watch
For the month of July 2008, 211 single family homes were sold in the city and county of San Francisco. The following are the statistics for the month of July:
| Beds |
Baths |
Square Feet |
List Price |
Selling Price |
Days on Market |
|
| Minimum |
0 |
1 |
0 |
$214,900 |
$190,000 |
0 |
| Average |
3 |
1.92 |
1,699 |
$1,143,649 |
$1,162,064 |
48 |
| Median |
3 |
2 |
1,290 |
$849,000 |
$868,000 |
30 |
| Maximum |
8 |
6.5 |
5,732 |
$7,700,000 |
$7,700,000 |
424 |
The following is the average DOM (Days on Market) breakdown and average % of list price received on Solds by market time:
| 0-30 Days |
31-60 Days |
61-90 Days |
91-120 Days |
120+ Days |
|
| Number of Listings |
107 |
54 |
26 |
10 |
14 |
| Breakdown % |
50.71 |
25.59 |
12.32 |
4.74 |
6.64 |
| Average Sales Price % of List Price |
104.14 |
99.16 |
97.96 |
98.35 |
101.08 |
Once again, it is apparent that it is crucial to not overprice a property when putting it on the market. Properties, on average, that sold within 30 days of going on the market, commanded 4.14% over their asking price. These statistics are based on data retrieved directly from the San Francisco Multiple Listing Service.
If live in San Francisco, or are planning to purchase in San Francisco, and would like to know how these figures apply to you, contact me today.
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How the Housing and Economic Recovery Act Will Put Money in Your Pocket
July 30th, 2008 categories: Real Estate News
Today President Bush signed the “Housing and Economic Recovery Act of 2008.” So, you ask? What’s in it for me? Well, let’s see. There are several provisions in the bill that can affect anyone, not just someone facing foreclosure.
Raising of the Conforming Loan Limit to $625,000
What? It’s not $729,750? That’s right. That was just temporary. Although it would have been nice to see the permanent conforming loan limit raised to this temporary amount, it’s safe to say that $625,000 is wonderful. How does this affect you? Well, for starters, if you are indeed a homeowner in the San Francisco Bay Area, this can affect you immensely. The fact that the loan limit will now permanently be $625,000 brings a larger pool of potential buyers for properties that are more than $650,000. We know that, in San Francisco, $650,000 can maybe buy you a small, decent, one-bedroom condo in a desirable area. While this is good for the buyer, of course, it also means that there will be more buyers which means that the demand will increase. If you are a homeowner, you can expect to see your property value increase due to the increase in qualified buyers.
First-Time Home Buyer Tax Credit Read the rest of this entry »
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San Francisco Events: Festival of Sail
July 29th, 2008 categories: san francisco events
The Festival of Sail started on Wednesday, July 23rd with the Parade of Sail. Hundreds of water craft including over 35 tall ships sailed under the Golden Gate into The San Francisco Bay on Wednesday to kick of The Festival of Sail that went on until Sunday, July 27th. Three villages were set up along the San Francisco Waterfront. Read the rest of this entry »
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Rededication of Moscone Playground
July 21st, 2008 categories: The Marina
What a grand day for the residents of the Marina District. The George Moscone Recreation Center was reopened, and what an event it was. The project was 8 million dollars and took a total of 18 months to complete. At the event were several individuals who took part in making sure this magnificent project would come to fruition. General Manager of Park and Rec, Yomi Agunbiade, spoke about the project prior to the ribbon cutting. Supervisor Alioto-Pier was in attendance along with Park and Rec Commissioner Tom Harrison, Northern District Police Captain Al Casciato, Park and Rec Supervisor Joseph Figone, Park and Rec Director of Communications and Public Affairs, Rose Marie Dennis, among others. Read the rest of this entry »
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