Happy Halloween To All

I have a line on a couple of small mixed use properties that aren’t on the open market— The first is a small three unit building (2 residential over a bail bond shop), near the Hall of Justice. The other is four small vacant units above three commercial on 24th Street in the Mission. There’s also a vacant lot on Connecticut just north of Army for sale. This last property is in a scrappy location and is best suited for light industrial or vehicle storage. If you want more information, please call me at 415-738-7040.

Now for an update on how the San Francisco market looks to us at Paragon:

We’re no longer expecting automatic bidding wars on every new listing that hits the market. Word on the street is that TIC sales are slowing and properties lacking essentials like parking are also not selling as quickly.

Well-priced properties can still sell well above asking. Properties that capture the heart and imagination also set off bidding wars. A Paragon agent listed a 3br/3ba Mission Victorian with high emotional appeal for $995,000 and received 8 offers. Another Paragon listing– a set of flats in the Western Addition that had been severely fire damaged- was listed for $769,000 and received more than 20 offers.

We’re also not seeing a slowing of market activity. Right now San Francisco Realtors are selling roughly 130 homes, condos and 2-4-unit buildings each week. That number is about as high as anything we’ve seen all year. And prices are continuing to slip upwards.

Even so, we don’t expect the spectacular appreciation we’ve seen over the past few years to continue. The days when you could list your place at a price 10% more than what your neighbor just sold for have come and gone. We also tell sellers not to panic if offers don’t come in right away. But if your property is priced appropriately and shows well, you should have it under contract in a month’s time.

My emails love to be forwarded! And my distribution list loves to grow! If you know someone who would like to receive these updates, just send me their address. Thanks!

Coming up next week: Some little known ways to find a bargain in any kind of market. . . See you then. And please remember me for your real estate needs or those of your loved ones.

This entry was posted on Wednesday, October 26th, 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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