Hello My Favorite People.

Here is an anecdotal market update, based on information shared at Paragon’s sales meeting this morning.

It seems like a quirky market this week. We’re hearing lots of stories about things taking longer to sell– and about some big price reductions on certain kinds of properties, like TICs. Small, contemporary condos in larger buildings can also sit for quite awhile and go through price reductions before receiving offers (now may be the time to strike if you’re in the market for a pied-a-terre.)

The healthiest segment of the market remains 2-4 unit buildings– which seem to get more offers and go further over asking than other types of properties. The multi-unit market is also robust—many of the deals that went into escrow at Paragon over the last couple of weeks have been 6-20U buildings.

Since fewer offers are coming in, we are asking Sellers to rethink their pricing strategies. Now the ideal listing is priced right where we expect the property to sell, instead of starting extra-low and expecting multiple offers.

We have a number of great properties coming up after the first of the year– and some aggressive price reductions that are creating some excellent buys. I’ve listed a few of them at the end of this email, along with my contact information should you wish to know more. I regret that these are ‘principals only’ opportunities. But if you have a good agent, they should be able to figure out where these ‘good buys’ are.

Available now for $249,000: A charming 2-story TIC cottage near Alamo Square (approx 600 square feet with parking).

Available now on a lease option: A fully-furnished one bedroom condo on Lombard right near Levi Plaza– listed for $549,000.

Coming soon for $629,000. Large Twin Peaks condo beautifully staged with amazing downtown views.

Coming soon for $695,000. Richmond District contemporary flat 2br/2ba with wrap around deck. Approx 1100 sf.

Coming soon for $1,190,000. An approx 1800-sf 3br/2ba Nob Hill Edwardian condominium flat with Southern views.

Coming soon for $1,200,000. An approx 1800-sf North-Slope Potrero town home on three levels for $1,200,000.

Call me if you want more info on any of these homes. 415-738-7040.

Also, my email list is hungry! If you know anyone who you think should be getting these emails, please send me their names. See you next week.

This entry was posted on Wednesday, December 7th, 2005 at 12:00 pm and is filed under Market Conditions. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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