Three Indicators Of A Very Strong Housing Year To Come

Number of Homes suffering price reductions on the decline:
Price Reduction Decline

Price of Newly listed properties on the rise:
List Prices going up

Days on Market (how long a property takes to sell) going down:
DOM-annotated

For more info and the full article, visit:
-Three signs 2013 will be the Hottest Housing year since 2005 [Altos Research]

San Francisco Months Supply Of Inventory At Record Low

San Francisco Single Family Homes, Condominiums, Tenancies In Common, and 2-4 Unit property Inventory has simply dried up…
monthsupply
…and the future is not looking good, which means this number could go even lower, especially given the number of buyers still in the market ready to pounce on every decent, and fairly priced property that hits the radar screen.

When Someone Else Tells You Our Market Is Hot…Will You Listen?

We’ve been trying to tell you for quite some time the market it smokin’ hot. We’ve been trying to tell you it’s a great time to sell that San Francisco property of yours, if you’ve been sitting on the fence. And we’ve been telling you, as fantastic it is that interest rates remain so incredibly low, how could you not want to borrow some of that free money, and compete with 20 other buyers to grow your roots in San Francisco terra firma (or not so firma). But somehow, sometimes, it just doesn’t seem to sink in unless you hear it from someone else.

So…the someone elses, and their notable quotes:

-Curbed SF: For Buyers, Hard Lessons in San Francisco Real Estate Math

Seems only 1.52% of all properties in the city are for sale in SF, and the number is only declining. SF also enjoys one of the lowest percentages of bank-owner properties in the country.

-Pulse Factors: Good For Sellers, Bad For Buyers

San Francisco is on the cusp of another (strong) leg up in residential prices. Jones Lang LaSalle, a major commercial real estate company, held an event on January 30th at which they forecast a strong upbeat outlook for the city. The residential segment is directly related. A few items caught my attention: Boston Properties is so bullish on the future of San Francisco that it is investing more than twice as much capital in the city’s office market as it is in the rest of the country combined. (Editor’s note: WOW!) San Francisco is among the top seven cities worldwide benefiting from the three forces of urbanization, globalization, and modernization. San Francisco has more than three times the tech start-ups as London and four times the number in New York City…

For each new software designer hired by Twitter in San Francisco, there are five new job openings for baristas, personal trainers, doctors, and taxi drivers in the community.

-California Market Snapshot (C.A.R.)

What is clear from evidence suggested by surveys and research studies, however, is that current conditions for the housing market and for real estate financing are healthier than the environment that we observed in the mid of 2000’s before the housing market started deteriorating.

-SocketSite: San Francisco Home And Condo Prices Gain As US Index Slips

According to the Index, single-family home values for the bottom third of the market in the San Francisco MSA are back to December 2000 levels, down 53% from an August 2006 peak; the middle third is back to March 2003 levels, down 34% from a May 2006 peak; and the top third remains at May 2004 levels, 20% below an August 2007 peak.

…and so it goes. There are, of course, other sources out there that will continue to tell you not to buy and wait til this new little boom goes bust, and there are others that will advise you not to sell, because Realtors are all snakes, just out to get your money. Therefore, we give you the data, we invite you to check out the bigger picture that is San Francisco and its surrounding areas, and we ask you, and hundreds of thousands of other people the same question, and most of them have the same answer, “Is there really anywhere else in America you’d rather live?

From Vacant Lot To Contemporary Home In Eight Short Months: 2192 Funston Ave

What was…

2192Funston

Is now…

2192 Funston Ave, San Francisco CA

But not yet…

Look for this to hit MLS any day, unless someone goes and knocks the seller’s socks off with a big time offer between now and this weekend. Sold in May of 2012 for $489,000 as a “Great opportunity for a developer to build a stunning 4 bedroom, 3.5 bath single family home in highly coveted Golden Gate Heights, [with] shovel-ready approved plans for a single family home in excess of 3,000 sqft, elevator, sauna, 2 car garage, deck, and much more!”

It’s now touted as “a newly constructed contemporary home with panoramic views on a quiet Golden Gate Heights cul-de-sac. [And this] chic and modern beauty is wonderfully laid out on five levels. The stairs are beautiful, especially with the glass paneled railings that create an open and airy sense of space. Too tired to walk up stairs? No worries — that’s what the elevator is for!”

From the looks of the pictures provided by Open Homes Photography, and the minimalist approach to maximizing the views, we’re very curios to see how this $1,680,000 four bedroom, three and one half bath home does in this oh so hot market of ours…especially since it may be one of the few (or only) vacant lots turned single family home west of Twin Peaks with an elevator…and did we mention the views?!

Make sure to check the interactive floor plans, and get yourself out there this weekend to have a look. It’s not something you see everyday in that neck of the woods, and so far, you’re one of the first to know it even exists.

2192 Funston Floor Plan

-2192 Funston, $1,680,000, 4bd, 3.5ba [Property Website]
-New Listed, Newly Sold [theFrontSteps]