As a student of real estate my entire life, 2024 holds special interest for me as we are currently going through a market in transition. 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.
This is the question I get asked almost every day: “Is this the right time to buy real estate?” People ask this for several reasons depending on who they are.
As I write this column, the first half of 2024 is just about over. Each year has its own challenges and this year we have been dealing with rising inflation, stubborn interest rates, the seemingly never-ending battle with crime, homelessness, drugs in San Francisco, and contentious mayoral and presidential races. So, what is the status of our local real estate market now?
Every day I get asked: “How can I sell my home for the highest possible price? What can I do to maximize the value in my home?”
As most of the readers of this column know by now, I tend to write on what I feel is the most relevant real estate topic at the moment. I get my ideas from the people I talk with every day. If certain questions come up often, then that becomes the column of the month!
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?
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.
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.
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.
The Richmond District’s single-family median home prices took a dip for the second year in a row after rising for 10 years.
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.
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?
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.
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.
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?
Richmond Review/Sunset Beacon 