Comments on: Is What We’ve Been Saying for Months Finally Catching On?

By: Boom

Boom — Tue, 22 May 2007 03:34:35 +0000

I definitely do think SF will be up another 5-10% this year, depending on location. The economy is booming.

Sure, overpriced SOMA and other Tier 3 locations are lagging, but everywhere else, there are bidding wars.

This house is already in contract after two weeks at $3.85 million! WTF. It has no backyard, and the layout was quirky.

http://sfarmls.rapmls.com/scripts/mgrqispi.dll?APPNAME=Sanfrancisco&PRGNAME=MLSPropertyDetail&ARGUMENTS=-N698397791,-N206755,-N,-A,-N8639308

By: hrmm

hrmm — Tue, 22 May 2007 00:57:35 +0000

Not sure I’m buying what you are selling Boom.

Median up, sales down… everybody agrees the concentration of buying is occurring at the top, not the bottom or the middle.
If people aren’t buying at the bottom or the middle, sooner or later that’s going to have a dampening effect on the top. Real estate is cyclical, it always has been, and always will be. We are near the top of the biggest ride in history. No one knows the exact moment it will go down, but I think you are crazy if you think SF is going to continue to see 8-10% appreciation while the rest of the country goes bust.

By: Boom

Boom — Mon, 21 May 2007 17:03:02 +0000

Alex – The market is indeed a SELLER’S MARKET. No matter how much other bubble blogs focus on declining prices in crappy location such as overbuilt SOMA, the truth of the matter is that where people actually want to live, prices are going through the roof, and up more like 8-10% over the past 12 months.

I feel sorry for renters, but not sorry for those who were talking out of their a**es

Let the good times roll!

http://www.socketsite.com/archives/2007/04/location_location_and_kitchen.html