Market News




San Francisco’s Q4 2009 Housing Pipeline Report

Thursday, February 25th, 2010

February 24, 2010
via SocketSite.com

According to the San Francisco Planning Department’s Q4 2009 Pipeline Report, San Francisco’s current big picture (click to enlarge) housing pipeline is as so:

  • 128 projects with 1,320 housing units are currently under construction
  • 190 projects representing 2,070 units have received a building permit
  • 328 projects representing 4,620 units have applied for a building permit
  • 119 projects representing 8,220 units have been approved by the Planning Department
  • 108 projects representing 30,370 units have filed for Planning Department approval

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Upcoming Listings and a whole host of Unusual Buyer Needs

Thursday, January 14th, 2010

Upcoming Listings:
$1,095,000 //SOMA // 5th Street BR/BA: 2/2 PKG: 1 Brief Description: One-of-a-kind custom live/work loft in former warehouse. 24’ ceilings, fireplace, over 1,620 SF. 6 min to BART, 8 to Union Square
 
$779,000 // Inner Mission // Shotwell Ave Brief Description: 4-Unit building Contractor’s special- great investment. At least 1-unit vacant, Bankruptcy sale, no parking
 
$595,000 //SOMA // 6th Street BR/BA: 1/2 PKG:  1 Brief Description:  Stylish spacious loft with downtown view, full bath on living & mezzanine levels, gas kitchen, 15-unit elevator building 
 
$499,000 //SOMA // First Street BR/BA:  1/1 PKG: 1 Brief Description: Nice junior 1-bedroom condo with west-facing city views. Great condo for first-time buyers or for pied-a-terre
 
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Association Offers Services to Public, Too

Wednesday, January 6th, 2010

Although the primary purpose of the San Francisco Association of REALTORS® is to offer business services and legislative representation to REALTORS® in San Francisco and surrounding areas, it also provides a variety of information services to the public to strengthen the connection between REALTORS® and consumers. Those services are described below.

District/Subdistrict Map

The district/subdistrict map, a longtime staple of the MLS operated by the San Francisco Association of REALTORS®, was last updated in 2009. The map defines neighborhoods and subneighborhoods, albeit unofficially, to allow listed properties to be searched by district and subdistrict, instead of street name or map coordinates. The boundary lines and district/subdistrict descriptions that were changed on the map most recently reflect changes in the nature and feel of the city’s neighborhoods. Read the rest of this entry »





January 2010 Update

Saturday, January 2nd, 2010

The data below is from sources deemed reliable but may contain errors or omissions, and is not warranted. Sales not reported to MLS (such as many new-development condo sales) are not reflected in these statistics. Median prices may fluctuate for other reasons besides changes in value.

http://www.paragon-re.com/Docs/General/SixtyFortyImages/1-10_Median_Price_by_Prop_Type.JPG

SF Median Home Price by Property Type
Depending on neighborhood, SF home values peaked in 2006, 2007 or 2008, then declined dramatically in the 2nd half of 2008 (especially after 9/15/08), and then recovered (somewhat) with the surge in sales that began in spring of 2009. The increase in TIC median price in the 4th quarter of 2008 and the 1st quarter of 2009 is an anomaly: very few sales occurred and they do not reflect the reality that TIC values also fell during this period. (A good example of how median prices can fluctuate.) The main point of the chart is the stability of house and condo median prices in the 2nd and 3rd quarters of 2009, and the uptick seen in the 4th quarter. It is too soon to reach definitive conclusions, but it appears that buyer demand is fueling a small increase in values. 
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Limited Exposure to Exotic Mortgages Has Helped Spare San Francisco from Severe Home Price Corrections

Thursday, December 17th, 2009

Although it has been a difficult year for residential housing markets nationwide, San Francisco has fared better. The market’s inherent high barriers to entry, combined with the city’s limited exposure to exotic mortgage abuse during the most recent housing cycle have helped protect it from the initial wave of home price corrections, according to the latest Market Focus report, published jointly by Rosen Consulting Group and the San Francisco Association of REALTORS®.

The report indicates that in recent months, the San Francisco housing market has shown increasing price stability, particularly at the low-end of the market, while for-sale inventory levels have declined significantly and at a much faster rate in comparison to other parts of the country. Read the rest of this entry »





The Simple Truth: Paragon Newsletter

Monday, December 7th, 2009
Paragon Real Estate Group

click for larger image
Sales Price to Original List Price Percentage
This chart shows the average percentage of original asking price achieved upon sale when acting as listing agent. It is a truism that if the property is priced, prepared and marketed well, and the purchase contract is negotiated effectively, it will sell quickly at its highest possible price. When even a half percentage point in sales price equals thousands of dollars, Paragon agents average 5.6% above the city’s average sales-price-to-original-list-price percentage. On a $500,000 home, 5.6% equals $28,000; on a million dollar home, it equals $56,000. In this analysis, the home sales assessed are capped at $3,000,000, because at the higher end, most sales prices are confidential, which distorts the statistics.

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Homebuyer Tax Credit: New Eligibility, New Rules, New Provisions

Tuesday, November 24th, 2009

Don’t worry!  This is easy to read. 

NAR Homebuyer Tax Credit Chart: published by the National Association of Realtors, this is a great synopsis of the latest version of the Homebuyer Tax Credit that has been approved by the government. 

There is now a provision for a “homebuyer,” not just “first-time homebuyers.”  As with anything, there are restrictions and limitations.  Take a peek and call me with any questions.




Derek Chin
415.738.7043

Natalie Rome
415.874.5007

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Natalie: DRE # 01386654 Derek DRE # 00854466