Click on the image to the left for the report (pdf).
If you are looking to buy or sell property in San Francisco, please contact me for a comparative market analysis and to review our sales & marketing plan for your property or to talk about buying a place.
Scott Pierce
local: 415-595-3519
toll free: 800-788-8508 SFCondoMap: Where people find properties
San Francisco's December Single Family Home Sales Market Wrap
(click on the image to the left for the pdf of the report)
The numbers are the typical numbers that you expect as of late from San Francisco. Total volume down while prices are up. District 1 went from $971,250 to $1,215,000 Dec 06 to Dec 07. District 3 from $754,700 to $605,000..this is part of the weaker market in the southern part of The City.
District 5 was a superstar as always, $1,450,000 from $1,090,000 in the same time period (though sales totals went from 26 in '06 to 13 in '07). District 7 had the best showing by call accounts. Doubled the sales total and more than doubled the price points. 3 sales in Dec 06 averaging $1,850,000 to 6 sales in Dec 07 averaging $4,005,000!! Email me for the info on these listings!
If you are looking to buy or sell property in San Francisco, please contact me for a comparative market analysis and to review our sales & marketing plan for your property or to talk about buying a place.
Scott Pierce
local: 415-595-3519
toll free: 800-788-8508 SFCondoMap: Where people find properties
Art Bruzzone, the host of the popular local show "San Francisco/unscripted" (On Comcast) will interview John Asourdian, President, SF Association of Realtors. The topics will obviously include the San Francisco Housing market.
Richard Sonnenheim, former English Professor, will also be interviewed on his San Francisco and how the city has changed.
Sounds like a good show, and should be of interest to anyone interested in San Francisco real estate.
I recently attended a CalHFA first time buyer purchasing seminar. I was amazed at the government's effort to encourage home ownership. I feel the government program has been extremely under-served in the past few years.
.....................CalHFA offers:
........................- Deferred Down Payment Assistance
........................- Zero Downpayment
........................- Below market interest rate fixed for 30 years at 6.375% for one loan
........................- Interest only option available for the first 5 years
........................- Automatic mortgage protection program for up to 6 months
Part of the reason is that there have been so many different products for first time buyers at very competitive rates for a long time. Nobody really took a hard look at the government programs. All of sudden though the piggy back loans are going away, the traditional lenders are asking borrowers to pay PMI, and all of sudden the government programs are becoming much more viable options for borrowers to pay close attention to.
Two things I learned about these government programs, are summarized as follows:
1st - Loan amounts are much more generous than most people think. One of the assumptions for government programs is that loan amounts tend to be very low. Although FHA definitely has its limit in the high 300,000's, CALHFA loan amounts are much higher. Depending on whether it is new construction or resale, loan amounts can be as high as mid 600,000's. Imagine buying a piece of property for $660k with one loan at 6.5%, 30 year fixed interest only. That is an unbeatable rate.
2nd - You can be eligible for these products even if you earn a good income. The income limits for San Francisco and San Mateo counties for 1 or 2 persons are $121,893. (contact me for income limits in other counties)
Lastly, and a very important feature, is the mortgage protection feature that these programs offer. You can get up to 6 months of protection with payments as high as $2,500 a month.
With all these great features, people who have stable jobs should look closely at their life time goals to see if home ownership is a viable one you.
With prices declining in most parts of California and the USA and rates continuing to slide to favorable levels, it is a golden opportunity to buy, as long as you find affordable financing options for yourself.
Why not look at these government options and see if they are right for you?
Buyers and Realtors, contact me now for a FREE report that discusses these programs in more detail.
Bring out the good chi in buyers with quick and simple Feng Shui!
When selling a home, making it look its best is always a must. But you also want people to feel good about being in your home. This is where considering some of the principals of Feng Shui is helpful.
After comparing 6-7 books at a bookstore, I bought the book'total feng shui'by Lillian Too. I thought it had the best layout, covered the material easily and was well priced.
Did you know that there are separate Feng Shui for houses and condominiums?
The part of Feng Shui that Sellers should consider most is the aspect of placing and arranging furniture and the interior and garden areas in general.
While reading through the first chapter, I ended-up rearranging our Master Bedroom's furniture and was amazed at how much better it was. It looked better and it actually felt better. Lillian says "A careful arrangement of furniture allows chi to flow at a good pace." And she is exactly right. (on the same day I also designed a new layout for my wife's office which she loved 100x's more than how it was before).
For most of us, the basics of Feng Shui are probably all that we will learn and that is fine. Just applying some of the basic aspects of Feng Shui will have amplified results throughout your home and life.
And when you are trying to sell your home, applying even just the basics of Feng Shui will go along way to bringing out the good chi in buyers that come into your home.
Call oremailme for some more basic ideas on Feng Shui for your home (do not wait until you move to consider it), check out Lillian's website/book and send us some before and after pictures if you Feng Shui your home!
Though it is very rare, you never know where or when something like this can happen. Though it was not the initial reason we started to have 2 agents at our open houses, I have to think that when people see 2 agents, they would be much less likely to try some funny, and not so funny, stuff.
The main reason we have 2 agents at your open house is to make sure that as many buyers as possible get 1-to-1 attention while they are in your property and to be able to discuss not only the property itself, but about the financing of the property.
Contact us to talk more about how we list and market properties.
Please forward this
report to others at
the link below.
October Single Family Homes Sales Activity for 2007 vs. 2006. (From the San Francisco Association of Realtors)
Sales prices up while total sales and DOM are down.
In almost all districts the number of sales were down, while the prices were up and days on market (DOM) was lower. In other words, the homes that do come on the market tend to sell faster and for more money.
District 4 (Diamond Heights, Forest Hill, St. Francis Wood, West Portal, etc) is one of the best selling districts in San Francisco. Sales up from 28 in October 2006 to 36 in Oct. '07! Prices were up from $980,000 to $1,001,500 this year. Welcome to the Million Dollar Club. DOM fell from 52 to 36.
District 9 (SOMA, South Beach, Inner Mission, Bernal Heights, etc) though never typical, was typical as far as the month for most districts. The number of sales fell from 24 in Oct 2006 to 17 in Oct. 2007. Prices were up from $775,000 to $949,000 in Oct. '07 while DOM is 32 down from 44!
District 3 (Ingleside, Lakeside, Stonestone, etc) did fall from $735,000 in 2006 to $700,000 last month. Number of sales down from 26 to 13 and DOM up to 47 from 45.
District 10 (Bayview, Hunters Point, Outer Mission, etc) also saw fall offs in prices and number of transactions ($715,000 to $635,000 and 51 to 39). DOM grew to 59 from 45.
Overall? There is not a lot of great inventory. This is the natural regulation of the market. When good properties come on the market, they sell. And there are not a lot of new Single Family Homes being built in San Francisco.
If you are looking for a single family home the good news is that it is not a total frenzy all the time. Though a number of homes are receiving multiple offers without even a Sunday showing.
For buyers, the key is to do your homework and be prepared to act quickly when you find a place that is right for you.
For home sellers, pricing and home preparation are key. Overpriced properties that do not show well are not selling in this market.
This article is written based on information from the San Francisco Association of Realtors dated 11/13/07. Please contact me with any questions or for further information.
Homeowners who are thinking about selling their home are encouraged to contact me regarding my sales & marketing plan for selling your home.
San Francisco's September Condo Sales Activity for 2007 vs. 2006. (From the San Francisco Association of Realtors)
(Click on the image to the left for a PDF of the report)
In the Richmond District the number of sales was up as were prices while days on market were less.
District 5 (Noe & Eureka Valley, etc) saw prices go from an average of $775,775 in 2006 to $936,000 in September 2007. There were 21 sales Sept. 2007 vs. 38 in 2006. But...days on market was much lower at 27 vs. 47 in '06.
In District 7 (Pac Heights et al) 19 condominiums sold averaging $1,261,000 with only 33 DOM. In 2006 20 properties sold averaging $907,500 at 38 DOM.
District 9 came in lower this September with 46 places selling at an average of $732,000 and 55 DOM vs. 50 condos selling at a $758,750 average last September at 60 DOM.
The high end of ALL MARKETS are selling very well. 1 bedrooms seem to be harder to sell, especially in bad areas, bad locations, bad floor plans....any excuse not to buy something, buyers will not buy.
But a 1-bedroom bankruptcy sale at the Metropolitan (District 9) hit the market two weeks ago in a bad location and not cheaply priced and it went Pending in 2 days.
So who knows? There are a lot of investors from all over California in San Francisco. As well as investors/buyers from all over the United States, Central & South America, Asia, Europe, etc (lots of everyone here).
Which is how San Francisco has always been. But now people from around the world do not have to uproot their lives to get their fill of San Francisco. They can just buy a condo or house and visit a couple of times a year.
In addition the job market is still strong. Many of our clients are moving or have moved to San Francisco because of job transfers or accepting new jobs for more money.
As long as the job market is strong in San Francisco, and international markets are doing well, allowing foreign buyers, the market will be fine.
And for the foreseeable future, both of these indicators seem strong.
One thing we are not seeing anymore of are people trying to flip properties in San Francisco.
Regardless of what you think about Berkeley and/or global warming, I think everyone has to agree that this is a brilliant move by Berkeley in so many ways.
In essence, Berkeley will pay for homeowners to install solar panels (from selected vendors...they better be the best and be giving bulk rate prices!) and then put a 20-year assessment on the home. The assessment would be less than or equal to the utility savings. The city could charge less than market rate interest by securing low-interest bonds and loans.
This plan will:
- reduce imports of middle eastern oil.
- reduce pollution.
- stop our money from going to dictators in Venezuela, Iran, Saudi Arabia, etc.
- create good paying jobs.
- increase the pace of development in solar technology.
- increase home values and more!
The only thing I would add is that this is something that with a little more coordination the results could be even more tremendous...but it is a start.
CAR, NAR and all Realtors should get behind this and see if they can get their municipalities, localities, etc (if appropriate for your areas) to do the same. Imagine if the entire state of California did this. Or the entire nation? How much money could we save, pollution we could reduce and jobs and technology we could create!!
If I was a presidential candidate (on either side of the aisle) I would make Berkeley my next stop and make their plan on this issue a part of my campaign.
We need another JFK "Man to the moon" speech at Rice University in 1962 and Berkeley is showing the way.
This is from the Millennium Tower for today, Friday, October 26, 2007.
Call or email me if you would like to be put on the interest list for the Millennium Tower or if you would like any further information on this building or any others on sfcondomap.com.
There is a great video titled "Where is the market headed" with Leslie Appleton-Young, Chief Economist, California Association of Realtors. This woman is exceedingly brilliant.
This is NOT a puff piece, but just a good overview of the current market in both California and the Bay Area. If you start about halfway through you will get the information that is more pertinent to San Francisco, but the whole video is good and should be watched.
Click Spotlight with Tom Sinkovitz below, and the 2nd video is "Where Is the Market Headed?"
(Learn more about buying, selling and financing
real property. Click on the link to view video
features on contemporary real estate subjects.)
The main points of this article are:
- Only 12% of California homeowners have earthquake coverage.
- It is "extraordinarily expensive" ($100-$200 or so a month for a $700,000 property).
- Most policies have a 10-15% deductible.
- For most, alternative is bolting the home to the foundation and reinforcing particular parts.
- In Loma Prieta 43,000 homes were damaged, 75% of them less than the deductible.
- Property built on bedrock better than landfill.
- The California Earthquake Authority (CEA) is the state agency that funds coverage.
- Insure for cost of rebuilding, not appraised value.
- "It makes sense to link insurance with your equity status."
To buy or not buy earthquake insurance is a personal decision. We do not have earthquake insurance, but we live in a single family home on bedrock that is bolted to the foundation.
Two things to look at when considering this are in the disclosure package you sign(ed) when buying property.
Report of Residential Building Report (3R)
In the 3R section 7 lists "Construction, conversion or alteration permits issued, if any". If you see anything for years 1989-1991, see if it looks like it could relate to work done due to damage from the Loma Prieta earthquake and ask about it.
Natural Hazards Disclosure Report
The NHDR is typically prepared by either JCP or Property ID. Click here to read more about the NHDR from JCP.
In the NHDR there is a map cover page that shows the various hazard zones in which the property is located. Check this out and then see if the property you are buying was built to meet the cities guidelines regarding the hazard in which it is located. The City does have building requirements that builders and developers have to meet for hazards such as earthquakes and others. Click here for the Department of Building Inspections page on earthquake preparedness, hazard maps, etc.
MY THOUGHTS: You should always check to make sure that the property you are buying has been built or retrofitted to meet current building codes which take into account the hazards relevant to the San Francisco Bay Area. Newer buildings and homes typically meet these standards. Many others have been retrofitted to provide better protection.
As always, call or email us for more information, to discuss this in more detail or to have us help you read the map for your property.
This is a map of places we like, and we recommend everything on here personally.
(Note, you can pan east, west, north and south, and zoom in and out just like any other Google map. Click Legend, show marker titles to see the titles on top of each icon)
Click each icon for pictures, information, directions and website for each place!
Bringing the best together for condominium and loft sellers in San Francisco:
SFCondoMap.com is a leading
source for buyers looking to buy condominiums and lofts in
San Francisco.
Vanguard Properties is a leading Real Estate firm in San
Francisco and the undisputed sales leader in the largest and
most competitive condo/loft markets in The City.
Contact the Scott Pierce Team about how we will market and sell your property, for a comparative market analysis or for any other real estate needs and information. Cell: 415-595-3519.
It is a proven fact that exposure to home buyers is what actually sells homes. And the Internet is where you have to be.
The marketing program for SFCondoMap.com attracts new buyers EVERY DAY looking for condominiums and lofts. And everyday buyers contact us regarding specific properties that they want to buy.
When a SFCondoMap.com buyer purchases your property you only pay 3.68% commission! This is a savings of thousands of dollars and lots of time and hassle.
We have the best real estate sales and marketing plan in San Francisco. Please read our Sales and Marketing Plan for how we work, and how we market your property, attracting more buyers and agents than anyone else in the market. By attracting more buyers and agents we increase demand for your property and get you the highest price possible.
Click the image below for a full-sized image of this graph (opens a new window).
Call, email or text us for more information.
call / text : 415-595-3519
Email or call Scott Pierce at 415-595-3519 for more information or for a private tour.
Click below to play a great video of the interior and the neighborhood around 270 Valencia Street:
270 Valencia Neighborhood Map (Click on map below):
Go back to SFCondoMap.com, click below:
Click on MLS Listing for more information & to see all the still pictures (launches new window, video will still play).
Completed in 2005, this 2-bedroom, 1-bath condominium was built in a traditional style recalling the architectural roots of Mission Dolores, while the interior features all the modern amenities you expect, such as: Crown molding, Jerusalem tile in baththroom, granite counters in kitchen, gas cooking, stainless steel appliances, beautiful hard wood floors, deeded parking, in-unit washer/dryer, great deeded storage and much more.
All photographs in video are within a 10 minute
walk of the property. All interior photos are from the MLS
Listing.
Click below to play the video.
It has two levels of living space connected by
catwalks suspended just below the 18' concrete ceiling, compelling
city views seen through glass enclosures and walls that adjust and
define different uses for different desires. With over 4000 square
feet, the loft is the combination of three lofts merged into one
gorgeous, artistic space and can be 3 BR, depending on need, with
2.5 BA. It also has 2 pkg & 3 storage units.
Price: $2,400,000
MLS Listing:
Here
Listing Agent: Jito Garcia, McGuire
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