Have you ever tried solving a complex problem and had unintended consequences after it is all said and done? What did you do? How did you go about resolving it?
Real Estate: John M. Lee
2024 is here, and like any other year, people are preparing for the big push in the spring real estate market. However, unlike every year, there is uncertainty and anxiety in the air.
Real Estate: John M. Lee
What should you consider before buying your first home? This is an extremely important question. For most people, this is the largest financial investment they will ever make in their lives. Buying a home can be extremely exciting and owning a home is still considered to be achieving the American Dream by many.
Real Estate: John M. Lee – Sunset District
The Sunset District single-family median home prices took a dip for the second year in a row after rising for 10 years with median prices declining by 11.6% and the number of sales by 25.2% in 2023. Prices dropped steadily throughout the year as the Feds kept increasing interest rates. The Sunset Home Sales Comparison table shows the results in 2023 as compared with prior years broken down by quarters.
Real Estate: John M. Lee – Richmond District
The Richmond District’s single-family median home prices took a dip for the second year in a row after rising for 10 years.
Real Estate: John M. Lee
The single-family home market emerges as a winner as since the pandemic people prefer to move to a lower density environment and to not live in close proximity with others. Luxury homes were slow and prices did drop but homes under $2.5 million held their own in terms of pricing.
Real Estate: John M. Lee
There is no question that our real estate market has changed this year. With fewer sales and a tougher market to navigate, how do you choose the agent that is right for you?
Real Estate: John M. Lee
As a student of real estate my entire life, 2023 holds special interest for me as this prolonged real estate cycle has changed. Normally in September I write about what we can expect in our fall real estate market because it marks the start of our second selling season of the year in San Francisco.
Real Estate: John M. Lee
Paying off a mortgage early or not is a very personal decision. I have clients who just want to own their homes free and clear so that they can have peace of mind that they have no more monthly mortgages or obligations to pay.
Real Estate: John M. Lee
As I write this column, the first half of 2023 is just about over. Each year has its own challenges and this year we have been dealing with rising inflation, higher interest rates, a volatile stock market and the seemingly never-ending battle with crime, homelessness and drugs in San Francisco. So where is the real estate market at?
Real Estate: John M. Lee
We see cycles occurring all around us every day. Some cycles are long, others are short. Cycles also tend to repeat themselves.
Real Estate: John M. Lee
The announcement of a proposed 50-story, 712-unit skyscraper at the Sloat Garden Center location by the SF Zoo this past month stirred up quite a bit of debate on whether this is appropriate for the neighborhood and the west side of town. To put that into perspective, it will be approximately 600 feet tall, about the height of the Embarcadero Center Towers near the Ferry Plaza.
Real Estate: John M. Lee
March brought us news that two of our local banks are in crisis mode. The feds came in and shut down Silicon Valley Bank. Its competitor, First Republic Bank, is still under tremendous pressure at the time of this writing.
Real Estate: John M. Lee
The year is well underway, and like any other year, people are preparing for the big push in the spring real estate market. However, unlike every year, there is uncertainty in the air.
Real Estate: John M. Lee
Being a rental property owner in San Francisco gets harder and harder each year. There is a new law that passed in 2020 that requires owners of residential units to get a license before they can increase the rent. This law went into effect for buildings with 10 or more units on July 1, 2022 and will go into effect for all other residential buildings on March 1, 2023 with updates required by every March 1 thereafter.