Today we take (with permission of course) from Malcolm Kaufman’s recent Pulse of the Market (Pulse 57 View from Abroad), and bring you some great maps on the recent and upcoming SOMA Developments as well as a lesson on foreign buyers and their buying potential:
Malcolm also brings us some great insight on the “Sovereign-wealth Funds” and “Foreign Buyers”, who are definitely purchasing San Francisco real estate. Of course there is a little marketing thrown in there, but the information is consistent with what you’ll hear when you talk to any real estate professional actively representing buyers and sellers in San Francisco:
While different parts of the country are dealing with different levels of foreclosures, short sales, high inventory, falling prices, etc., San Francisco is not.
[For Foreign Buyers] Though our prices are not beaten down, the discounts are enticing in the face of the discounted American dollar…
These buyers benefit from the same political stability as their sovereign-wealth cousins, and they can be assured that there is an ever-ready and efficient market when it comes time to sell.
Foreigners, if you have any questions, feel free to contact us directly by clicking here and we’ll gladly point you in the right direction, because what you’re reading in the papers is not the whole picture.
…and how ’bout those maps!