Did San Francisco Real Estate Just Hit the Bottom?
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I didn’t really believe it when I heard it. I’ve been getting a better vibe about the pulse of the real estate market in San Francisco over the last few weeks. But I thought that MAYBE, it was just me.
I’ve noticed more properties selling, and more properties selling with multiple offers again. I’ve noticed properties that my clients have been mulling over for weeks suddenly disappearing all at once from the market – yes, going into contract (what’d ya think, they were being abducted by aliens?)
I mean, with mortgage rates so low, and prices at levels more affordable than they’ve been in years, it’s no wonder that last week alone, I met with 6 new buyers that plan on buying somewhere between NOW and in the next 6 months.
So when I heard about the lead story Wednesday on the six o’clock news on Channel 5 (the local CBS affiliate station), I had to pinch myself.
Rather than rewrite the summary, I’ll pass on the summary from the SF association of Realtors:
I know, I know! Positive news is almost impossible to believe, but trust me, the man knows what he’s talking about. Check the video out for youreslf, and then holler with questions.
The only thing I like better than talking about SF real estate is talking about GOOD NEWS in SF real estate.
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Real Estate Rebound Video from CBS5.com
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this report is a joke.
Realtors are so corrupt, Hank Plantes story is the usual local news infomercial. All you guys do is pitch “Its always a great time to buy a house” its utter nonsense. John Stewart should do a segment on realtors you people make CNBC look good. Have your or SFRA ever heard of the word integrity. The following blog has done an analysis on why Hanks story is utter crap you should read it before you defraud anymore of your clients with your happy spin
http://www.socketsite.com/
Here’s the thing John. Your generalization that REALTORS are all corrupt is about as true as saying that all guys named John like to generalize entire groups of people.
Here’s the crazy thing – I AGREE WITH YOUR ANALYSIS AND THAT ON SOCKETSITE!!!
Guess you didn’t catch the part of the above post that says that “prices [are] at levels more affordable than they’ve been in years” which put us EASILY in line with Socketsite’s analysis that the price of this particular home is at or about a 2004 price level.
Do I think the person that bought this home is happy about it? Yes. Do I think there are plenty other buyers out there that will be hapy to buy homes at “levels more affordable than they’ve been in years”? Hell yes.
I’m seeing the buyers come out to take advantage of the lower prices. I’m sorry if that makes me a “corrupt” REALTOR. My clients will vouch that I have never pushed them into buying property and in fact, have told some people that they need to hold off before they buy for a variety of reasons.
While prices have in no way shape or form rebounded to the level they would have been at had the housing bubble never burst, and sales volume hasn’t increased where anyone feels comfortable saying that we’re out of the woods just yet, I can say that from what I’m seeing, there are people out there ready, willing and able to buy and take advantage of lower prices and lower rates. And there are more of them out there than we have seen in months.
The title of the post – it’s meant to get your attention, not state a fact. Guys it worked.