| Read Between the Lines and More Good Buys | March 5th, 2006 |
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First off, let me tout my listing—I pitched it last week at the end of my email, but I want to put it up here now, where I can be sure you see it. —This is a 1br/1ba South Beach condo with a-m-a-z-i-n-g views. Logon to look– it’s worth it just to look at the pretty pictures. . . Now onto some real estate gossip: There’s been lots of talk in the press lately about the softening real estate market. I think it’s because they’re looking at sales data on properties that went into escrow over the fall. There’s no question that the market was slower then and fewer sales were recorded. Just take a look at my SFRealEstateBuzz entries from last fall and you can read about how we saw a definite slowing in the last quarter of ’05. Prices never went down however – just the number of sales. And since the beginning of the year, market activity has been brisk—especially as supply continues to not meet demand. At Paragon, we’re experiencing some overwhelming traffic at open houses. On one rainy Sunday, more than 150 people went through a single family home on the 1500 block of Noe Street (listed for $1.5M). Multiple offers are anticipated for the property. In Cole Valley, on Woodland , a home listed for $1.4M had 200+ visitors and received four offers. Homes in District 4 neighborhoods like Miraloma Park are also experiencing high activity. Last Sunday a house on Teresita listed for $975,000 had 250 potential buyers walk through and received 5 offers last week. It received 5 offers. And a home on Capitol in the Ingleside District listed for $599,000 received four offers. And North of Panhandle is highly sought after. A fixer home on Fulton Street that was on the market last fall and never sold was re-listed recently for the same price as before ($1.2M). The property received three offers and sold for above its asking price. And a condo flat on Hayes at Broderick, listed for $775,000, received 13 offers and sold for over $900,000. SOMA and South Beach condos and lofts are also moving, albeit not as quickly as other kinds of properties. Again, the laws of supply and demand are at work here. There is simply more inventory in these denser neighborhoods full of multi-unit condominium buildings. But any condominium or loft is assured of selling, provided that it’s properly priced. Why is the media telling a different story? We’re not sure. Perhaps they need to sell papers. Perhaps they’re confused on their information. But if you want to know what’s truly going on in the market, ask a good Realtor (like me). We’ll give you the real story on what’s going on with San Francisco real estate. Some great listings at Paragon that haven’t hit the market yet: (call me at 415-738-7040 if you want to get a preview) Noe Valley: A 3br/1ba home with large 1br apartment down listed for $1,249,000. Good bones and stylish detailing, like a fireplace, moldings and hardwood trim. South Beach: 1br/1ba condo listed for $519,000. Cute as a bug-in-a-rug. Dolores Street: A 1600 square foot condominium flat listed for $749,000. That’s as big as most houses in San Francisco. Upper Market: A 3br/2ba view home listed for $1,049,000. This last one is one of my personal favorite in terms of value. It has a killer master suite down, hardwood floors and dead on views that hit you as soon as you walk in the front door. If you are interested in knowing more about how the market is progressing, or know of anyone else who wants the inside scoop, I’d love to hear from you. Just call or email and I’ll give you a play-by-play update. I hope to hear from you you soon. |
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Hello My Favorite People!