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June 2019 Report – San Francisco Real Estate Market Update for May 2019
Posted on: June 4, 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
Posted on: May 24, 2019
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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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
Posted on: May 5, 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
Posted on: April 26, 2019
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
Posted on: April 17, 2019
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:
- Use an online calculator and get pre-qualified for a mortgage or construction loan
- Weigh the pros and cons to buying resale versus building a new house
- Find a real estate agent and lender you can trust
- Tour open houses and keep your must-haves versus nice-to-haves in mind
- Negotiate an offer that includes appliances (if they’re important to you) and a home or builder’s warranty
- 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!
April 2019 Report – San Francisco Real Estate Market Update for March 2019
Posted on: April 12, 2019
The number of homes in the Overall Sales category sold in MARCH increased from last month but was less than a year ago in the San Francisco Real Estate Market. And the average sale prices versus list price was about the same as last month but less 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 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 10% over the asking price but was much less than the previous month as well as 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.Hopefully this means the real estate market is starting to heat up again.
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.
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 |
February 2019 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 32 | $3,248,313 | $3,318,656 | 102.17% | 38 |
| Single Family Under $2M | 76 | $1,113,864 | $1,289,858 | 115.80% | 25 |
| Condominium | 123 | $1,307,651 | $1,348,464 | 103.12% | 40 |
| Loft Condo | 13 | $1,011,615 | $1,035,077 | 102.32% | 32 |
| Co-op | 1 | $2,350,000 | $2,300,000 | 97.87% | 127 |
| TIC | 18 | $1,629,833 | $1,643,500 | 100.84% | 47 |
| ALL * | 283 | $1,565,701 | $1,642,855 | 104.93% | 38 |
March 2018 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 58 | $2,740,672 | $2,997,397 | 109.37% | 24 |
| Single Family Under $2M | 121 | $1,175,361 | $1,402,044 | 119.29% | 21 |
| Condominium | 224 | $1,332,596 | $1,409,188 | 105.75% | 26 |
| Loft Condo | 4 | $917,500 | $1,008,250 | 109.88% | 20 |
| Co-op | 4 | $1,244,500 | $1,195,000 | 96.02% | 26 |
| TIC | 30 | $1,107,383 | $1,185,669 | 107.07% | 38 |
| ALL * | 499 | $1,697,524 | $1,937,663 | 114.15% | 27 |
* 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.
Preparing Your Home for Resale (In 4 Easy Steps) – SFResidence
Posted on: March 24, 2019
By: Paige A. Mitchell
Getting your home ready to sell may seem like an exhausting process. Keep in mind, there is a light at the end of the tunnel! Being able to resell your home can provide you the opportunity to make additional income from your property that could help you move into a new home. You may also find yourself needing to make a move across the country for a job that requires a quick sale. Instead of pricing your home too low in order to achieve a purchase quickly, simply make sure your home is ready to be sold at a price you deserve!
While getting your home ready for a selling requires some elbow grease and some home due diligence, it can prove to be a lot easier than you think. Before you let the stress of selling your home put you in a frenzy, follow these four simple steps to get your home ready to go on the market.
1. Boost That Curb Appeal
Make sure your home has some serious curb appeal to attract potential buyers in from the moment they pull up to your driveway. That means making sure all of your landscaping is perfectly manicured and inviting. You may also want to consider putting a fresh coat of paint on your home, updating the door, and pressure washing the siding of your home. Be sure all defects have been fixed on the outside of your home as well. If the fence is in disarray, your shrubbery is dying, or your windows need to be replaced, be sure to fix any issues that could cause a potential buyer to keep driving past your home. Don’t forget the welcome mat!
2. Perform All Necessary Repairs
Nothing makes a potential buyer pause faster than having to make repairs to a home they’re about to buy. Don’t burden your potential buyers with unnecessary repairs. Invest in a home warranty to fix any outlying repairs needed for your home, and even consider gifting a home warranty to potential buyers to help put their mind at ease when placing an offer on your home.
3. Declutter and Depersonalize
While staging your home is a great way to allow the potential buyer the opportunity to envision themselves living in your home, you want to make sure your home looks open and decluttered. You also want to make sure you remove any pictures of your family or knick knacks that can distract the buyer. Consider renting out a storage unit to hold any extra belongings until your home has been purchased. Be sure to also color your home is neutral colors. This will ensure your home appeals to a wide variety of buyers.
4. Make It Shine
Don’t leave your house dirty when a showing is about to happen. Make sure your home is perfectly clean. You want your home to appear open and inviting so that anyone can see themselves living in your home. This factor revolves around enticing all the senses. So be sure to remove any bad odors from the home, such as litter boxes and even the trash cans. From the ceiling fans to the floors, make sure your home is so clean it sparkles.
March 2019 Report – San Francisco Real Estate Market Update for February 2019
Posted on: March 5, 2019
The number of homes in the Overall Sales category sold in FEBRUARY increased from last month but was less than a year ago in the San Francisco Real Estate Market. And the average sale prices versus list price increased slightly for both 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 significantly over the previous month but about the same 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 almost 16% over the asking price compared to the previous month but was still less 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.Hopefully this means the real estate market is starting to heat up again.
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.
February 2019 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 32 | $3,248,313 | $3,318,656 | 102.17% | 38 |
| Single Family Under $2M | 76 | $1,113,864 | $1,289,858 | 115.80% | 25 |
| Condominium | 123 | $1,307,651 | $1,348,464 | 103.12% | 40 |
| Loft Condo | 13 | $1,011,615 | $1,035,077 | 102.32% | 32 |
| Co-op | 1 | $2,350,000 | $2,300,000 | 97.87% | 127 |
| TIC | 18 | $1,629,833 | $1,643,500 | 100.84% | 47 |
| ALL * | 283 | $1,565,701 | $1,642,855 | 104.93% | 38 |
January 2019 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 20 | $3,207,650 | $3,273,250 | 102.05% | 44 |
| Single Family Under $2M | 75 | $1,186,120 | $1,255,201 | 105.82% | 40 |
| Condominium | 83 | $1,134,052 | $1,142,073 | 100.71% | 53 |
| Loft Condo | 8 | $1,276,750 | $1,238,602 | 97.01% | 70 |
| Co-op | 3 | $2,323,333 | $2,208,333 | 95.05% | 170 |
| TIC | 16 | $1,122,806 | $1,133,656 | 100.97% | 47 |
| ALL * | 233 | $1,532,125 | $1,552,465 | 101.33% | 53 |
February 2018 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 39 | $3,246,895 | $3,427,561 | 105.56% | 23 |
| Single Family Under $2M | 61 | $1,140,536 | $1,353,166 | 118.64% | 22 |
| Condominium | 160 | $1,218,400 | $1,280,675 | 105.11% | 36 |
| Loft Condo | 12 | $1,016,500 | $1,048,375 | 103.14% | 32 |
| Co-op | 1 | $580,000 | $590,000 | 101.72% | 87 |
| TIC | 19 | $1,336,971 | $1,389,026 | 103.89% | 54 |
| ALL * | 329 | $1,573,983 | $1,666,062 | 105.85% | 34 |
* 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.
How to Sell Your House Faster
Posted on: February 22, 2019
Guest Post By:Paige A. Mitchell
Many homeowners dream of “upgrading” their current residence to one that’s more in line with their ideal neighborhood and amenities. However, the process of selling one home and closing on another can be a particularly nerve-wracking one.
That’s especially true when the ability to close on your new home hinges upon the sale of your current home. Bay Area homes are most expensive, and you don’t have much time to waste in situations like this.
To streamline the process and prepare you for what’s to be expect during this transition, we’re going to look at some strategies you can employ to sell your home faster.
TLC
When you’re looking for a buyer, remember that your home is effectively the product you’re selling. When you shop for a used item, do you settle for one that’s falling apart?
Most of us are more likely to buy a home that looks as though its past owners have put some real love and care into it. San Francisco homes have history and character to them, but that charm can quickly fall into disarray without proper maintenance.
That means ensuring that your house clean and tidy, and that all appliances and systems are up and running. Don’t show your home with screens falling out of its windows or with a dented and scratched front door. Do your best to show potential buyer’s that the home is “gently used”.
Curb appeal
Just like books, many buyers judge a home by its cover despite the story that awaits them inside. They make snap decisions, even if they don’t realize it. Your home might be comparable to those on the rest of the block in terms of interior upgrades, but what does its exterior look like?
Appearance plays a big role in whether or not someone is drawn to an item. This is as true in real estate as it is anywhere else. To that end, make sure that your home looks nice from the curb! Consider adding a fresh coat of paint to the front door, landscaping the yard—even if it’s small—and fixing cracked walkways or broken steps. Taking the time to address these issues can help your home make a great impression from the very start.
Home inspection
Is your home in good working order? Your major appliances may seem to be working, but what about the electrical and plumbing systems that you can’t see? It’s important to understand the answer to that question before you put your home on the market.
Let’s say, for example, that your home looks nice but a home inspection reveals a laundry list of surprising repairs that need to be made. Every one of those repairs is going to negatively impact the value of your home.
Avoid the shock by having your own inspection done and address problems head-on before you list the property. Research the best home warranty companies in California to streamline the repair process and provide new buyers some priceless peace of mind.
Stage to sell
Finally, make sure that your buyer’s can envision themselves in your home. You can do this by decluttering the space and making each area as clean and neutral as possible. In other words, give buyers a clean slate upon which they can visualize their future in the home. The faster someone else can picture themselves living in your home, the quicker you’re likely to receive an offer. Note that this can also sometimes mean removing some belongings and sending them to storage.
Are you hoping to sell your Bay Area home? Follow the tips above and you’re sure to get there sooner rather than later!
February 2019 Report – San Francisco Real Estate Market Update for January 2019
Posted on: February 7, 2019
The number of homes in the Overall Sales category sold in DECEMBER decreased again from last month as well as a year ago in the San Francisco Real Estate Market. And the average sale prices versus list price decreased for both 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 increased over both 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, but the average dropped to 5% over the asking price (from 14% over) in both the previous month as well as a year ago . In fact all the categories we track were down, on average, over both previous tables. For the first time in a long time, two of our condominium categories were UNDER 100%. This could indicate that sellers are getting more realistic and buyers are standing firm on their offers.
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.
January 2019 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 20 | $3,207,650 | $3,273,250 | 102.05% | 44 |
| Single Family Under $2M | 75 | $1,186,120 | $1,255,201 | 105.82% | 40 |
| Condominium | 83 | $1,134,052 | $1,142,073 | 100.71% | 53 |
| Loft Condo | 8 | $1,276,750 | $1,238,602 | 97.01% | 70 |
| Co-op | 3 | $2,323,333 | $2,208,333 | 95.05% | 170 |
| TIC | 16 | $1,122,806 | $1,133,656 | 100.97% | 47 |
| ALL * | 233 | $1,532,125 | $1,552,465 | 101.33% | 53 |
December 2018 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 44 | $2,950,273 | $2,986,864 | 101.24% | 35 |
| Single Family Under $2M | 113 | $1,164,366 | $1,332,518 | 114.44% | 32 |
| Condominium | 150 | $1,379,109 | $1,392,673 | 100.98% | 43 |
| Loft Condo | 12 | $1,082,226 | $1,066,634 | 98.56% | 58 |
| Co-op | 4 | $1,503,250 | $1,508,750 | 100.37% | 20 |
| TIC | 14 | $899,964 | $926,722 | 102.97% | 52 |
| ALL * | 381 | $1,632,472 | $1,674,517 | 102.58% | 41 |
January 2018 **
| Property Type |
Sold
|
Avg List Price |
Avg Sold Price
|
% Sold Price vs. List Price
|
Avg Days on Market
|
| Single Family $2M & Over | 23 | $3,271,304 | $3,349,180 | 102.38% | 48 |
| Single Family Under $2M | 67 | $1,066,938 | $1,215,498 | 113.92% | 31 |
| Condominium | 102 | $1,178,433 | $1,210,584 | 102.73% | 49 |
| Loft Condo | 8 | $1,142,250 | $1,116,688 | 97.76% | 73 |
| Co-op | 9 | $2,999,222 | $2,771,480 | 92.41% | 100 |
| TIC | 12 | $1,345,167 | $1,344,833 | 99.98% | 73 |
| ALL * | 258 | $1,728,550 | $1,784,461 | 103.23% | 48 |
* 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.
