| Market Update For January, 2006 | January 19th, 2006 |
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How long will it last? It’s hard to say. We anticipate stable interest rates this year, which may keep demand strong. On the other hand the imbalance of supply/demand may shift as we move into the year and more properties come on the market. This will give buyers more to choose from and more leverage when negotiating. One segment of the market that’s hardly taken a breather is investment property. Demand for 6U and up has remained consistently strong. We’re also seeing a rise in rents all over the City. This indicates an upward swing in values for San Francisco buildings and odds are good that these kinds of properties stand to appreciate the most in 2006. At Paragon we have some great listings coming up. Among them are a gem of a two unit building on Clipper Street for $1,149,000; a 2br/2ba corner condo on Fillmore at Green for $899,000, and a SOMA loft—corner unit with great light—for just a hair over $600K. We also have some exceptional investment opportunities hitting the market– including an 8-unit Duboce Triangle building listed for 11.22 GRM at $995,000 (it’s a fixer) and a yummy 30+ unit building at Van Ness and Clay for $9,250,000. This last one has exquisite art deco detail—it reminds me of a wedding cake. As always, I’m here to address all of your real estate needs. I’m also a firm believer in the adage, “There’s no such thing as a dumb question.” So please call if you have a concern—no matter how small. See you next week! |
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So how’s the market this week?Well, after a fall slow-down, it looks the Sellers are back in the driver’s seat as there are more buyers than properties available. It’s a refreshing change—some of our clients were so discouraged that they pulled their properties off the market last fall. Now they’re coming back on as new listings and selling at or slightly above their original asking price. Other Paragon listings that have been sitting for quite awhile (like a high-end Russian Hill co-op and a one-of-a-kind Mission Revival style firehouse in Noe Valley) are also finally going into escrow.