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September 2019 Report – San Francisco Real Estate Market Update for August 2019

The number of homes in the Overall Sales category sold in AUGUST decreased dramatically from last month as well as a year ago in the San Francisco Real Estate Market. The average sale prices versus list price was lower than last month but higher than a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market remained the same from the previous month but slightly higher than a year ago.

What do these current numbers all mean? Single family homes UNDER $2M (on average) continue to be the best performer. The average increase was more than 16% over the asking price, slightly less than the previous month but slightly more than a year ago. In fact in all the categories we track the average sales price was over 100% of sales price with the exception of co-ops which tend to always do their own thing. All in all, the San Francisco market continues to be pretty good, but WHAT WE NEED IS INVENTORY! The numbers are off only because there is very little to sell .

So if you are thinking of selling this is still a GREAT time to SELL. And it can be a great time to BUY with the right agent. Whether you are buying or selling, call Janis Stone at 866-224-8024 or Bethany Patten at 415-235-9077 TODAY!

* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.

August 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 50 $2,648,158 $2,823,795 106.63% 27
Single Family Under $2M 110 $1,192,677 $1,385,686 116.18% 25
Condominium 163 $1,370,038 $1,440,066 105.11% 32
Loft Condo 7 $801,573 $842,716 105.13% 41
Co-op 3 $1,278,000 $1,257,000 98.36% 59
TIC 13 $1,193,482 $1,253,577 105.04% 30
ALL * 393 $1,596,713 $1,708,001 106.97% 31

July 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 62 $3,117,904 $3,356,337 107.65% 25
Single Family Under $2M 141 $1,178,194 $1,374,543 116.66% 22
Condominium 197 $1,255,698 $1,341,074 106.84% 31
Loft Condo 14 $1,098,500 $1,173,214 106.80% 17
Co-op 4 $1,749,750 $1,770,000 101.16% 59
TIC 17 $1,078,588 $1,165,824 108.09% 48
ALL * 505 $1,712,511 $1,840,075 107.45% 31

August 2018 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 52 $2,866,808 $3,022,939 105.45% 23
Single Family Under $2M 123 $1,183,248 $1,377,008 116.38% 22
Condominium 180 $1,289,999 $1,356,161 105.13% 31
Loft Condo 17 $1,104,851 $1,146,479 103.77% 30
Co-op 2 $1,269,500 $1,264,000 99.57% 96
TIC 20 $1,372,750 $1,442,069 105.05% 39
ALL * 435 $1,583,942 $1,691,283 106.78% 29

* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4 Units, and 5+ Units. (If you add all categories, 5+ units accounts for the extra numbers.)

** Figures subject to change as Multiple Listing Service is updated.

+ Formerly, condominium statistics
included condos, co-op, lofts and TICs.

Realtor.com is the official site of the National
Association of Realtors® (NAR) and is a search engine for real
estate nationwide. Realtor.com
has all of San Francisco’s listed homes and condominiums.

August 2019 Report – San Francisco Real Estate Market Update for July 2019

The number of homes in the Overall Sales category sold in JULY increased slightly from last month as well as a year ago in the San Francisco Real Estate Market. The average sale prices versus list price was slightly power than last month but significantly higher than a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market increased slightly from the previous month as well as a year ago.

What do these current numbers all mean? Single family homes UNDER $2M (on average) continue to be the best performer. The average increase was again almost 17% over the asking price, more than the previous month but less than a year ago (at slightly over 17%) . In fact in all the categories we track the average sales price was over 100% of sales price. All in all, the San Francisco market continues to hum along! It’s looking like we are in store for a great fall market.

If you are thinking of selling this is still a GREAT time to SELL. And it can be a great time to BUY with the right agent. Whether you are buying or selling, call Janis Stone at 866-224-8024 or Bethany Patten at 415-235-9077 TODAY!

* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.

July 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 62 $3,117,904 $3,356,337 107.65% 25
Single Family Under $2M 141 $1,178,194 $1,374,543 116.66% 22
Condominium 197 $1,255,698 $1,341,074 106.84% 31
Loft Condo 14 $1,098,500 $1,173,214 106.80% 17
Co-op 4 $1,749,750 $1,770,000 101.16% 59
TIC 17 $1,078,588 $1,165,824 108.09% 48
ALL * 505 $1,712,511 $1,840,075 107.45% 31

June 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 70 $3,197,457 $3,421,708 107.01% 21
Single Family Under $2M 111 $1,183,512 $1,384,395 116.97% 22
Condominium 217 $1,371,618 $1,455,571 106.12% 28
Loft Condo 15 $1,120,800 $1,201,600 107.21% 24
Co-op 4 $2,420,750 $2,411,250 99.61% 67
TIC 20 $1,291,075 $1,334,400 103.36% 59
ALL * 495 $1,740,033 $1,865,687 107.22% 29

July 2018 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 59 $3,038,159 $3,257,786 107.23% 22
Single Family Under $2M 129 $1,211,287 $1,419,042 117.15% 20
Condominium 225 $1,143,421 $1,227,166 107.32% 29
Loft Condo 18 $1,279,640 $1,321,833 103.30% 29
Co-op 4 $2,008,750 $1,975,625 98.35% 93
TIC 13 $1,250,692 $1,319,345 105.49% 37
ALL * 498 $1,540,581 $1,664,016 108.01% 27

* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4 Units, and 5+ Units. (If you add all categories, 5+ units accounts for the extra numbers.)

** Figures subject to change as Multiple Listing Service is updated.

+ Formerly, condominium statistics
included condos, co-op, lofts and TICs.

Realtor.com is the official site of the National
Association of Realtors® (NAR) and is a search engine for real
estate nationwide. Realtor.com
has all of San Francisco’s listed homes and condominiums.

July 2019 Report – San Francisco Real Estate Market Update for June 2019

The number of homes in the Overall Sales category sold in JUNE decreased significantly from last month as well as a year ago in the San Francisco Real Estate Market. The average sale prices versus list price was slightly higher than last month but significantly higher than a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market was about the same as the previous month but slightly more than a year ago.

What do these current numbers all mean? Single family homes UNDER $2M (on average) continue to be the best performer. The average increase was almost 17% over the asking price, more than the previous month but less than a year ago (at over 21%) . In fact in all the categories we track the average sales price was over 100% of sales price except Co-ops. All in all, the San Francisco market continues to hum along! It’s looking like we are in store for a great summer market.

If you are thinking of selling this is still a GREAT time to SELL. And it can be a great time to BUY with the right agent. Whether you are buying or selling, call Janis Stone at 866-224-8024 or Bethany Patten at 415-235-9077 TODAY!

* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.

June 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 70 $3,197,457 $3,421,708 107.01% 21
Single Family Under $2M 111 $1,183,512 $1,384,395 116.97% 22
Condominium 217 $1,371,618 $1,455,571 106.12% 28
Loft Condo 15 $1,120,800 $1,201,600 107.21% 24
Co-op 4 $2,420,750 $2,411,250 99.61% 67
TIC 20 $1,291,075 $1,334,400 103.36% 59
ALL * 495 $1,740,033 $1,865,687 107.22% 29

May 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 55 $3,242,599 $3,428,542 105.73% 22
Single Family Under $2M 140 $1,218,726 $1,386,485 113.77% 23
Condominium 260 $1,233,371 $1,327,703 107.65% 28
Loft Condo 19 $1,077,667 $1,106,709 102.69% 32
Co-op 12 $2,078,149 $2,081,167 100.15% 33
TIC 28 $1,303,393 $1,379,067 105.81% 41
ALL * 610 $1,721,938 $1,827,213 106.11% 30

June 2018 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 75 $2,763,157 $3,082,320 111.55% 20
Single Family Under $2M 149 $1,126,108 $1,363,752 121.10% 17
Condominium 225 $1,261,034 $1,346,119 106.75% 28
Loft Condo 17 $1,078,694 $1,141,106 105.79% 20
Co-op 8 $2,664,875 $2,642,250 99.15% 43
TIC 23 $1,014,087 $1,126,848 111.12% 20
ALL * 551 $1,575,143 $1,738,301 110.36% 25

* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4 Units, and 5+ Units. (If you add all categories, 5+ units accounts for the extra numbers.)

** Figures subject to change as Multiple Listing Service is updated.

+ Formerly, condominium statistics
included condos, co-op, lofts and TICs.

Realtor.com is the official site of the National
Association of Realtors® (NAR) and is a search engine for real
estate nationwide. Realtor.com
has all of San Francisco’s listed homes and condominiums.

5 Reasonable Repairs to Request Before You Buy a House

By: Paige A. Mitchell

You’ve found your dream home and are looking to get the necessary repairs done before you can move further. These repairs will test your negotiating skills; we suggest focusing on those that will directly affect you instead of asking for all small and large fixes. Here are five reasonable repairs to request before buying a house.

 

  • Galvanized Pipes

 

Common in the 1960s, galvanized pipes have a zinc coating to protect them from corrosion and rust. The zinc used in these pipes was most likely impure, so it may contain other compounds, including harmful ones like lead. Also, while the zinc protects the pipe from the outside, the water flowing through them damages them from the inside, possibly causing water pressure issues. The lifespan of a galvanized steel pipe is typically 20 to 50 years, according to house logic.

 

  • Sewer Pipes

 

Sewer pipe replacements can be expensive, but they may also be necessary. An expert will be able to determine if the problem is localized or extensive. If the damage is extensive, then the whole pipe may need to be replaced. Of course, the type of pipe will also be important in determining its life span. For instance, the wood fiber-based Orenburg pipe lasts for about 50 years. These pipes are more common in the houses built in the 1950s.

 

  • Wiring

 

Problems with the electrical distribution system are the third leading cause of structure fires in US homes, according to ESFi. Some houses built in the 60s may have aluminum wiring instead of copper. Aluminum wiring is problematic because it can lead to overheating and fires. The inspection should make it clear whether the whole installation needs to go, or some minor replacements will do the job.

 

  • Roofing

 

It’s perfectly reasonable to ask for repairs if the roofing inspection reveals any extensively damaged parts. If the seller doesn’t have a roofing certificate, request an inspection and certification. The roofer won’t provide a certificate for a roof that still needs work. Again, don’t mind a few broken or missing shingles. Do discuss damaged skylights, chimneys, and vents.

 

  • Heating and Cooling

 

Determine the age and condition of the heating and cooling systems as well. Some of the costlier repairs include heat exchangers ($500 to $1,200), smart valve ($750), condenser coil ($1,900 to $2,900) and compressor ($1,900) (prices by HVAC.com). If the HVAC system needs replacements or repairs, then remind the seller of these issues as well.

Repair Options

Some sellers will offer repair credit for major repairs. And, any credit left over after the repair goes back to the provider. If the seller isn’t willing to make repairs in advance, ask them to include a home warranty with the home.

You can ask for repairs for any problems with the house that will stop you from using it normally. Of course, there may also be some smaller issues that need attention. But, you have to give and take in these matters; ignore the minor ones, and focus on the major ones.

The Most Efficient Way to Unpack Once you’ve Moved Into your New Home

Guest Post by: Paige Mitchell

If you’ve ever moved to a new home, you know just how exciting and stressful it can be. Even after you’ve gotten all your belongings into your new place, the unpacking process can start to feel overwhelming.

Sometimes, it can even feel like living out of boxes until everything is slowly unpacked is your best option. But fortunately, the unpacking process doesn’t have to be as daunting as it seems. Keep reading for some tips on the most efficient way to unpack once you’ve into your new home.

Clean Before You Unpack

Even if your new home looks spotless when you move in, it’s still a good idea to clean everything thoroughly. Since it’ll be much more difficult to clean once everything is in its designated place, it’s a good idea to get your cleaning done before you unpack.

Create a Labeling System for your Boxes

One of the worst things you can do is throw a bunch of random from different rooms into one box. Instead, you should try creating a specific labeling system for your boxes. You can organize your boxes by number or color based on what rooms the items go in.

As you (or movers) bring your belongings into your new home, they’ll know exactly where the boxes belong. When you start to unpack, you won’t have to worry about running around and trying to find all of your stuff.

Unpack Your Bedroom and Bathroom First

No matter how smooth your move goes, it’s still going to make for a pretty long day. The first thing on your mind will probably be climbing into bed for a good night’s sleep. By unpacking your bedroom and bathroom first, you’ll have all the necessities you need to get ready for bed on your first night.

As soon as your bed is set up in your room, you should unpack your bedding and make your bed. You can then move on to the rest of your bedroom items before moving on to the bathroom.

Don’t Unpack or Set Up Things That’ll Distract You

You may be tempted to set up your TV, computer, or game consoles right away, but this is one trap you definitely don’t want to fall into. It’s best to save electronic gadgets until the end of your unpacking process so you can avoid distractions as you unpack the rest of your things.

Don’t Unpack the Kitchen on Moving Day

The kitchen may seem fairly easy to unpack, but it’s usually one of the most time-consuming rooms due to the number of items, small appliances, and utensils you have in your kitchen. Since it can take a while to get your kitchen organized, you might want to put this room off until the day after you move. While you’re unpacking your kitchen, you should also ensure that all of your home appliances are working properly. The last thing you want is to realize the dishwasher is acting up after you finally finish unpacking.  

Enjoy Your New Home!

The best part of unpacking is undoubtedly when it’s all done. Once everything is in place, you can finally rest, relax, and enjoy the comforts of your new home.

June 2019 Report – San Francisco Real Estate Market Update for May 2019

The number of homes in the Overall Sales category sold in MAY increased from last month and was slightly more than a year ago in the San Francisco Real Estate Market. The average sale prices versus list price was less than last month as well as a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market decreased slightly from the previous month but was more than a year ago.

What do these current numbers all mean? Single family homes UNDER $2M (on average) continue to be the best performer. The average increase was almost 14% over the asking price, more than the previous month but less than a year ago . In fact in all the categories we track the average sales price was over 100% of sales price including Co-ops. All in all, the San Francisco market continues to hum along! It’s looking like we are in store for a great summer market.

If you are thinking of selling this is still a GREAT time to SELL. And it can be a great time to BUY with the right agent. Whether you are buying or selling, call Janis Stone at 866-224-8024 TODAY!

* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.

May 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 55 $3,242,599 $3,428,542 105.73% 22
Single Family Under $2M 140 $1,218,726 $1,386,485 113.77% 23
Condominium 260 $1,233,371 $1,327,703 107.65% 28
Loft Condo 19 $1,077,667 $1,106,709 102.69% 32
Co-op 12 $2,078,149 $2,081,167 100.15% 33
TIC 28 $1,303,393 $1,379,067 105.81% 41
ALL * 610 $1,721,938 $1,827,213 106.11% 30

April 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 70 $3,964,047 $4,135,713 104.33% 28
Single Family Under $2M 146 $1,215,129 $1,368,076 112.59% 24
Condominium 256 $1,335,970 $1,397,209 104.58% 36
Loft Condo 18 $1,042,100 $1,103,323 105.87% 36
Co-op 2 $1,374,000 $1,349,000 96.16% 117
TIC 28 $1,149,679 $1,176,073 102.30% 47
ALL * 565 $1,649,742 $1,786,541 108.29% 34

May 2018 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 82 $2,936,083 $3,244,095 110.49% 19
Single Family Under $2M 159 $1,133,070 $1,368,057 120.74% 21
Condominium 259 $1,339,928 $1,429,406 106.68% 27
Loft Condo 19 $973,938 $1,041,070 106.89% 25
Co-op 6 $1,628,000 $1,580,000 97.05% 84
TIC 19 $1,256,237 $1,425,632 113.48% 26
ALL * 606 $1,621,632 $1,784,447 110.04% 26

* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4 Units, and 5+ Units. (If you add all categories, 5+ units accounts for the extra numbers.)

** Figures subject to change as Multiple Listing Service is updated.

+ Formerly, condominium statistics
included condos, co-op, lofts and TICs.

Realtor.com is the official site of the National
Association of Realtors® (NAR) and is a search engine for real
estate nationwide. Realtor.com
has all of San Francisco’s listed homes and condominiums.

7 Ways to Avoid Debt When Shopping for Your First Home

Guest Post by: Paige A. Mitchell

When shopping for your first home, it’s smart to have a financial plan in place to pay for monthly home ownership expenses and avoid going into debt. Besides having a stable source of income, you should learn to be savvy with your money and budget for home-related costs. Here are seven ways you can avoid debt when shopping for your first home and save money throughout the home buying process.

  1. Save for a down payment

Before buying a house, research the current real estate market, compare the prices of different houses you’re looking at, and determine how much of a down payment you’ll have to make. Aim for a down payment of at least 20% of the total value of the property. For example, if you’re looking to buy a $200,000 house, consider putting down at least $40,000.

If you put down a lower down payment, you’ll likely need to purchase private mortgage insurance (PMI). PMI covers the difference between the sale price of the house and the package you get from your lender. Your PMI package will ultimately depend on how much you put down. If you’re in a situation where PMI is completely unavoidable, try to estimate the cost of the insurance to know how much you’ll be paying each month. Use a PMI calculator to help you figure out these costs.

  1. Know your loan options

If you truly can’t afford a 20% down payment (or are having a hard time saving for a down payment), there are a few low-mortgage programs available to you. For instance, the Federal Housing Association (FHA) offers a 3.5% down payment loan to applicants who have a credit score of at least 850. The FHA also has a 10% down payment option for people whose credit score is between 500 and 579. Both of these loans have an upfront premium of 1.75%.

If you or a family member is in the military, you could try financing offered by the Navy Federal Credit Union. Navy Federal offers complete financing and a zero-down payment loan with a funding fee of 1.75%. Similarly, the Department of Veteran Affairs guarantees loans offered by private lenders. These loans are for active and retired members and some reserves and national guard members.

Opting for a United States Department of Agriculture (USDA) rural development mortgage is another option for first-time home buyers. This program assists approved lenders in providing low- and moderate-income households the opportunity to buy a house in eligible rural areas.

In addition to checking for low down payment options, get pre-approved early on in the home buying process and compare mortgage packages offered by different lenders. Check loan comparison sites and contact lenders to get a complete view of what you’re dealing with. Don’t be shy to ask for details about each package and get as many quotes as you can so you know the best available offers.

  1. Understand the different types of mortgage

There are two main mortgage options: a fixed rate mortgage and an adjustable rate mortgage (ARM). A majority of home buyers go for a fixed rate plan even though the interest rate is higher than an adjustable rate mortgage. An ARM has an initial period (usually 3 to 10 years) where the interest rate remains fixed. After this period, the rate typically changes after each consecutive year. If you’re planning on selling your property within the fixed rate period, an ARM may be a better option because of the lower interest. However, if you’ll be staying in the home for a longer term, a fixed rate mortgage might be cheaper.

There are two main types of fixed rate mortgages: a 15-year and a 30-year mortgage. With a 15-year mortgage, you’ll likely get a lower interest rate and will be able to pay your house off faster. With a 30-year mortgage, the monthly payments will be lower, but the interest rate will be higher.

  1. Check your credit score before applying

Your credit score plays an important role in how much interest you’ll have to pay on your mortgage. An excellent credit score of 750 or above will result in a better mortgage. There are a variety of free resources you can use to check your credit score, including Credit Karma and myFICO.

Once you get your report back from one of these companies, check it for any possible dings that may result in a higher interest payment. You should also give a thorough assessment of your credit report for any discrepancies or errors. If you find account information or balance amounts that are incorrect, contact the reporting company and the information furnishing company to get it fixed before applying for a loan.

  1. Ask questions about the lock-in period

When getting a quote, remember to ask lenders about their lock-in period. This is the time between the offer and the closing of the deal where the interest rate will be “locked-in.” The lock-in period usually ranges from 30 to 60 days. The obvious benefit of having a lock-in is that you won’t have to worry about any interest rate hikes. Of course, the main downside is that you won’t be able to benefit from a decrease in interest rates.

  1. Prepare for the future

First-time home buyers can save money by considering the different kinds of insurance they’ll need to invest in as a homeowner. When you buy a home, not only will you be dealing with potential damage from natural disasters or break-ins, but you’ll also have to deal with repairs and replacements to major systems and appliances.

One option for covering repair and replacement costs is through a home warranty. Unlike homeowner’s insurance, which covers damage due to fires, floods, and burglaries, a home warranty will cover the cost of repairs and replacements to major systems and appliances like your HVAC system, dishwasher, and refrigerator.

In addition to securing insurance and a home warranty, be sure get a home inspection done before closing. A home inspection will give you a good idea of the condition of appliances and systems of the house and whether or not any major repairs need to be made before closing.

  1. Don’t overspend on home improvements

Shopping for a new house is an exciting process, but it can be challenging when you’re on a tight budget, and even more challenging if you want to make a lot of updates to the house. Make a list of high-priority improvements and determine how much you can allocate to these changes—put repairs and improvements that increase resale value at the top of your list. For example, if an appliance is sucking up a lot of energy each month, you might want to get an energy efficient upgrade as soon as possible. If you have a faulty plumbing system, fixing this might take priority over installing a new tile backsplash in your kitchen or ripping up carpet for hardwood floors.

Here are a few other ways to save money on home improvements:

  • If your budget doesn’t allow for new furniture, go to a secondhand store to look for unique pieces.
  • Check listings on social media pages or join local groups where people are selling and buying used items.
  • Hire a friend or family member to help you with simple home improvement projects like painting a room, installing trim, or moving furniture.

From the initial research to the purchase of your home, try to be as through as possible with each step of the process. Pay off as much debt as you can beforehand, get pre-approved early on in the process to determine how much you’re working with, and save up for additional costs that come with purchasing a house.

May 2019 Report – San Francisco Real Estate Market Update for April 2019

The number of homes in the Overall Sales category sold in APRIL  increased from last month as well as a year ago in the San Francisco Real Estate Market. And the average sale prices versus list price was more than last month but about the same as a year ago. These numbers reflect the homes sold (for the most part) in the previous month given a typical 30 day close. Days on the market decreased slightly from the previous month but was more than a year ago.

What do these current numbers all mean? Single family homes UNDER $2M (on average) continue to be the best performer. The average increase was over 12% over the asking price, more than the previous month but about half of what it was a year ago . In fact in all the categories we track the average sales price was over 100% of sales price with the exception of Co-ops. These numbers seem to indicate a very robust summer market is in the works.

If you are thinking of selling this is still a GREAT time to SELL. And it can be a great time to BUY with the right agent. Whether you are buying or selling, call Janis Stone at 866-224-8024 TODAY!

* Remember, closed sales in any month reflect deals ratified in the previous month with a typical 30 day close.

April 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 70 $3,964,047 $4,135,713 104.33% 28
Single Family Under $2M 146 $1,215,129 $1,368,076 112.59% 24
Condominium 256 $1,335,970 $1,397,209 104.58% 36
Loft Condo 18 $1,042,100 $1,103,323 105.87% 36
Co-op 2 $1,374,000 $1,349,000 96.16% 117
TIC 28 $1,149,679 $1,176,073 102.30% 47
ALL * 565 $1,649,742 $1,786,541 108.29% 34

March 2019 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 57 $3,141,070 $3,326,439 105.90% 23
Single Family Under $2M 114 $1,265,451 $1,393,628 110.13% 27
Condominium 206 $1,296,097 $1,343,248 103.64% 32
Loft Condo 21 $1,140,905 $1,187,720 104.10% 37
Co-op 4 $2,332,006 $2,258,000 96.83% 102
TIC 25 $1,147,300 $1,215,608 105.95% 44
ALL * 466 $1,637,800 $1,719,155 104.97% 32

April 2018 **

Property Type
Sold
Avg List Price
Avg Sold Price
% Sold Price vs. List Price
Avg Days on Market
Single Family $2M & Over 61 $3,164,902 $3,965,359 125.29% 17
Single Family Under $2M 126 $1,128,796 $1,371,917 121.54% 19
Condominium 248 $1,260,546 $1,362,702 108.10% 26
Loft Condo 12 $1,130,149 $1,192,408 105.51% 23
Co-op 4 $728,750 $732,500 100.51% 61
TIC 24 $1,084,583 $1,211,000 111.66% 26
ALL * 529 $1,630,035 $1,774,958 108.89% 25

* Includes Single Family Homes, Condo/Coop/TIC and Loft, 2-4

Units, and 5+ Units.

** Figures subject to change as Multiple Listing Service is updated.

+ Formerly, condominium statistics
included condos, co-op, lofts and TICs.

Realtor.com is the official site of the National
Association of Realtors® (NAR) and is a search engine for real
estate nationwide. Realtor.com
has all of San Francisco’s listed homes and condominiums.

6 Signs of a Great Realtor

Janis Stone DRE 00517072

Janis Stone DRE 00517072

When you’re ready to find a new home or purchase your first home, you want to make sure that the person you are trusting to help you with the process has your best interests in mind. More often than not, it can be tricky trying to decipher whether or not the realtor you found has those qualities. During your search, keep these top qualities in mind when finding a good realtor.

Good Rapport

Realtors with good track records tend to be the most experienced and the most successful in the real estate industry. Ty and find some reviews on their website or social media page, or even ask around to see what other home buyer’s experiences have been with the realtor your looking to use.

Listening Skills

There’s nothing worse than taking the time to break down exactly what you want in a home, only for your realtor to not hear you and send you homes that don’t meet your needs. Realtors should have great listening skills to be able to research the best home’s that fit your needs and budget.

Bethany Patten DRE 01341512

Educated on Current Trends

The real estate market is very fluid and you need an agent that is up-to-speed on all the trends in the industry, especially market value. Realtors that are on top of their game do not settle and are passionate about finding a home for you and negotiating the best price.

Motivated

You want your realtor to be motivated to take action and strategic in being able to find you the best home at the best price. Additionally, your realtor should have strong negotiation skills and be able to offer little perks like a home warranty or cleaning service during the home buying process. If you find that your realtor is hesitant to negotiate, or simply says that the current listing is already fair, then you may want to find another realtor that is more motivated to get the best deal for your new home.

Reachable

If you find a house you want to see or discuss with your agent, or if you have questions about the negotiation process or financing, you want your realtor to be easy to reach. Your realtor should also be willing to communicate in a way that best fits your needs, not vice versa. For example, if you try calling your realtor, and they don’t answer and instead send a text, make sure you are clear in how you best want to communicate. You are their client, after all. If it takes days to hear back from them, then you may want to find a different realtor.

Understand Financing (And the Bumps That Come with It)

Not all of us have perfect credit, but a great realtor will understand that and will be ready for any bumps in the road that comes with getting a mortgage. You don’t want to put yourself in a position where you find your dream home, only to discover that you may not be able to get it due to circumstances you were unaware of. With a realtor being educated in the guidelines that come with getting a mortgage and being informed of your financial situation, they will be able to mitigate any issues that can arise further down the line.

The Ideal Homebuyer’s Timeline

By: Paige A. Mitchell

Buying the right home does not have to be a wildly stressful undertaking, contrary to popular belief. Fortunately, by taking a little time beforehand to establish a timeline, a lot of unnecessary headaches can be avoided. Not only will this early planning save you time in the long run, it will paint a clearer picture of what you want and highlight the resources you need to make everything come together.

How much house can you afford?

Assuming you’ve already built up your credit score and set aside money for a down payment, it’s important to determine what you can afford. There are many online calculators that are simple to use and will help tremendously in figuring this out. In order to narrow your search for a new home and before you can even put in an offer, you’ll have to be pre-qualified for a certain amount of money. There’s no point in looking and falling in love with a house or blueprint that you can’t afford. This pre-qualification process should also help you find a lender.

Buy vs. build

Once the numbers have been crunched, you can move on to the next step: deciding what you need and want in a home – your home. Asking yourself the right thought-provoking questions will get the ball rolling.

Consider, too, that as a home-buyer, you are not limited to existing houses on the market. Many folks overlook the prospect of building a new home to suit their needs. Depending on your circumstances, this might be the best option. So, make sure you’re taking advantage of all the options available to you and allowing yourself to see the full scope of possibilities. It might not be a bad idea to weigh the pros and cons of both new and previously-owned home options.

Enlist help

The next step is to find the right team of people to help you. At the very least, you will need a realtor and a lender. There are a lot of them out there, and they all have different ideas as to how to best approach buying a home and saving you money. Your realtor is going to be your professional partner and guide as you navigate your home-buying adventure, so you want to make sure their values align with your own. If you’re in the market for new construction, make sure that your real estate agent is well-versed in the local area, builder’s contracts and the building process.

Your lender should be trustworthy, and you should feel comfortable turning to them with questions you have about mortgage or construction loan options, rates, etc. Setting time aside to read online reviews, asking friends and family for recommendations, and interviewing a few agents and lenders is a necessary and worthwhile investment of your time.

House hunting checklist

You are now ready to finance your purchase and launch the house hunt – congratulations! If you’ve followed the steps to this point, you’ve already determined where you want your ideal home located, what amenities you want in it, how much you can afford, and your team of experts has been selected and is ready to assist you. Going into house hunting with clear goals makes weeding out the undesirable houses infinitely easier.

Negotiating your offer

The work is not yet done, though. Once you’ve found the house you want to make your home, it’s time to make and negotiate an offer. During this time, it is extremely beneficial to discuss the inclusion of appliances and a home protection plan. This coverage can help with unexpected appliance repairs, electrical issues, and a wide variety of other potential hiccups that you might not be aware of at the time of move-in. And, if it’s a new house, a builder’s warranty can also be quite useful.

Due diligence period

Once the terms have been agreed upon and the funding has been secured, the final steps include having the home inspected, appraised, surveyed, and actually closing on the house. While it may seem tedious, closing on a home is the most important step, as it ensures legally transferring the ownership of the home to you.

By planning ahead and determining your timeline, the experience of purchasing a home will be significantly more enjoyable and worthwhile. Here’s a quick checklist to summarize the timeline above:

  1. Use an online calculator and get pre-qualified for a mortgage or construction loan
  2. Weigh the pros and cons to buying resale versus building a new house
  3. Find a real estate agent and lender you can trust
  4. Tour open houses and keep your must-haves versus nice-to-haves in mind
  5. Negotiate an offer that includes appliances (if they’re important to you) and a home or builder’s warranty
  6. Do your due diligence to ensure the house is in working order. You may have to request and agree upon some repairs from the sellers before closing.

Good luck on your journey!

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