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San Francisco , No Let-Up in Demand So Far in 2018. March 2018 Update

By Feux Follets following x   2018 Mar 12, 1:37am 249 views   1 comments   watch   sfw   quote     share    


So far in 2018, the market seems to have brushed aside any concerns about increasing home prices, rising interest rates, stock market volatility, and new federal tax law changes.

It is still very early in the year to come to definitive conclusions about where the year is going, but right now, in most market segments, buyer demand is competing ferociously for a limited supply of listings. Indeed, by some standard statistical measures of supply and demand - days on market, months supply of inventory, absorption rate - the SF market is about as heated now as it has been at any time in the past 10 years.

This is especially true in the more affordable home segments, and particularly for house listings. The situation is somewhat more complicated in the highest price ranges, especially in the luxury condo segment where supply has been rapidly increasing. Of course, whatever the property type or price segment, it all ultimately depends on the specific property, and its location, appeal, preparation, marketing and pricing.

As an example of what is going on so far in 2018, our dollar volume SF home sales here at Paragon is up 38% for January and February as compared to last year, though admittedly we are outperforming the general market, which is still up by 8% (per Broker Metrics for MLS sales).

More: Graphs, Charts, Price Appreciation Etc. https://www.paragon-re.com/trend/san-francisco-home-prices-market-trends-news



#Housing
1   Feux Follets   ignore (0)   2018 Mar 12, 1:45am   ↑ like (0)   ↓ dislike (0)   quote        

Median home price in San Francisco hits $1.42 million: A standard condo in San Francisco is now selling for $1.15 million.

San Francisco housing has entered into a new reality. Tech money and foreign cash continues to flood the market and pushing prices to astronomical levels.

The typical San Francisco crap shack now will cost you $1.42 million, a new record high with condos going for $1.15 million. The city is entering into escape velocity of gentrification.

You have older Taco Tuesday baby boomers with rudimentary tech knowledge that bought decades ago living next to a new generation of wealth and tech savvy professionals. You see this as well in Los Angeles.

Some real estate “experts” barely have a working understanding of tech but definitely know how to navigate to Zillow to view their inflated prices. San Francisco is such an odd case study.

A city that outwardly states it supports the poor but when you look at prices even making $100,000 a year makes you part of a new high income poor – at that income level a sizable amount of your net income is going to go to simply paying for housing unless you want to be part of the mega commuting culture that is now emerging in California. What is going on in San Francisco?

The new ultra rich in San Francisco

It is hard for people to wrap their minds around the cost of housing in a place like California. Not so much that it is expensive, but once you look at the property and price you realize people are paying high prices for crap shacks.

Take a look at prices in San Francisco:



More: http://www.doctorhousingbubble.com/san-francisco-median-home-price-and-condo-prices-new-high-ultra-rich/




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