Posts Tagged san francisco real estate

San Francisco Real Estate Report

Here are some data that might be useful.  This information is as of September 10, 2008 brought to you by an analyst…

Current Available Listings of ALL homes 2,061
QTY (not $) of all homes sold in past 30 days 393
Months of Inventory (based on above data) 5
Average DOM for ALL homes 62
Est monthly % rate of decline (if applicable) 4%

For the month of Aug 2008, the market has fallen 3.5% in price (Aug = $633/SF vs July = $656/SF) and 19% in sales volume (Aug = 393 sold vs July = 486 sold). The days on market increased by 19% from 52 DOM (July) to 62 DOM (August). These statistics are consistent with seasonal market trends. July has traditionally been the most active time for Real Estate in SF. Of the 2061 units available, 912 are SFRs and 1149 are condos/TH/TICs.  Although SFRs represent a smaller share of the market, there are more REOs than Short Sales for SFRs. Of the 912 SFRs, 43 are REOs and 84 are Short Sales. 13.9% of the SFRs are distressed listings. Of the 1149 condos/TH/TICs, 29 are REOs and 27 are Short Sales. Distressed listings only represent 4.8% of the condo/TH/TICs market. Overall as a county and city, only 8.9% of the market is represented by a distressed listing. These statistics do vary amongst the 10 sub-districts of San Francisco.   District 10 is the most severely hit with 24.9% of all active listings being a REO/Short Sale (354 Listings and 86 REOs/Short Sales).  District 7 is among the least hit with 0.03% distressed listings (132 listins and 4 REOs/Short Sales). As we approach the fall season, one can expect to see continued price and volume decline.

What do you think?  Do you agree or disagree?


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San Francisco listed as recent top 10 housing markets nationwide

Just like stocks in the stock market, where some stocks go up and some stocks go down, and companies of alike can also have different performances, the real estate market and performance is something you also can’t generalize…  Based on the recent report from the Forbes magazine, the below is a list of the top 10 best performing housing markets based on:

  • 2007 Q3 median home sale price
  • percentage change compared to 2006 Q3
  1. Salt Lake City; Median Home Sale Price: $246,700; Percent Change:14.1 percent
  2. Charlotte, N.C., $220,000, 11 percent
  3. San Jose, Calif., $852,500, 9.4 percent
  4. San Francisco, $825,400, 8.6 percent
  5. Raleigh, N.C., $229,500, 7.5 percent
  6. Austin, $188,200, 7.2 percent
  7. Pittsburgh, $127,700, 6.1 percent
  8. Seattle, $394,700, 6 percent
  9. San Antonio, $154,700, 5.7 percent
  10. Portland, Ore., $299,700, 5.2 percent

Source: Forbes, Matt Woolsey (11/21/2007)

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San Francisco Buyers: note to self about homeowner’s insurance

first of all, it’s important to know that buyers of real estate need proof of insurance is needed to obtain mortgage financing. Due to losses from earthquakes, etc. there had been many insurance companies that are withdrawing from California.

So here are some things to keep in mind as note to self when looking to buy a real estate property.
1. make sure you request the sellers to provide disclosures of any known insurance claims made against the property during the seller’s ownership.

2. you can add in the purchase contract to request the seller to provide a “CLUE” (comprehensive loss underwriting exchange) report on himself/herself and the property. This report tracks the loss history for persons and properties for the past 5 years, and is used by insurance companies to make decisions on whether to issue homeowner’s insurance to a person or property.

3. if necessary, you can make the contract contingent on the insurance reduce the risks of not being able to get a reasonable homeowners insurance.

4. If you have to get earthquake insurance, make sure it covers the following: 1. dwelling coverage (essentially the cost to rebuild the structure on he property) 2. contents coverage 3. additional living expenses (“LAE”)

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