“Can I ask what your opinion is about buying an investment property
down at the mission bay area now? You know, the ones like on King or
Berry street. Do you think those prices are coming down and do you
think they will come down? I saw on your last “sold” list, they were
all under asking. I would think of an investment property for 5-10
years down the line.”
D.C.-San Francisco
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As answered by Sally Rosenman of Hill & Co. Real Estate, www.sallyrosenman.com
While the market there has slowed, properties priced right in certain buildings are still (seemingly) selling well. There is going to be a whole lot of growth there with the UC campus still being built and office buildings going up (or finally up) nearby. I strongly believe that the market will get better and people who have purchased now will be reaping the benefits in a few years.
There are some “deals” around in that some developers are offering rebates of some sort like credits for 1 or 2 years worth of HOA dues. I would suggest trying to bargain on prices as well.
Cheers,
Sally