San Francisco Real Estate Properties

Anticipation comes to mind.

For San Franciscans, Labor Day brings the anticipation of the beginning of our hot sunny San Francisco’s summer weather (and fewer foggy days).

For the San Francisco real estate market, it is the anticipation that the perplexing effect the media has had on potential buyers’ perceptions and fears will settle down soon, as buyers with a reasonable credit and a nice (20%) down payment are getting reasonable home loans when they have been working with a multi-source mortgage broker finding well-capitalized lenders.

Over the past several weeks, there have been a few San Francisco transactions that had loan setbacks which delayed and/or cancelled an escrow or two because the financial markets reaction to the tightening of credit in the mortgage industry.   Three real estate industry groups have reported slower sales in California and the nation due to the ongoing bad news of tighter mortgage underwriting and its adverse psychological impact, yet the reality here is that the credit tightening has only affected a very, very small percentage of buyers and sellers in San Francisco. 

This week before Labor Day, there are presently 551 homes and 444 unsold condos, co-ops, and lofts for sale that have been on the market unsold for an average of 56 days and 51 days respectively.  At the same time there have been 392 homes and 411 condos, co-ops and lofts that are either now in contract or have sold so far this month.

Now more than ever, I anticipate that your Realtor’s experience will count in you understanding today’s many opportunities that exist in buying and selling real estate in San Francisco! 

Charts presented by Ann Scherbert courtesy of San Francisco Association of Realtors MLS data (all information deemed to be reliable, but not guaranteed).

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