This is a look at what’s going on in the housing market from a different angle – lender mortgage applications — than our usual market statistics: AP Article: “Reports point to recovering housing market” “Earnings reports from two major banks … Continue reading →
Read More →2012 RealTrends 500 Report: Of Top 500 Residential Brokerages in U.S. Paragon Ranks #3 for Highest Sales per Agent & #4 for Highest Average Sales Price Top Firms Nationally: Ranked by 2011 Closed Sales Volume Per Agent Top Firms Nationally: … Continue reading →
Read More →The Epicenter of the High-Tech-Buyer Market Surge in San Francisco A statistical market overview by the Paragon Real Estate Group for Noe Valley, Eureka Valley & the Castro, Cole Valley, Mission Dolores, Haight Ashbury, Ashbury Heights, Clarendon Heights, Parnassus Heights, … Continue reading →
Read More →“The two-bedroom Noe Valley house had an unorthodox layout and looked like a 1980s Tahoe cabin. Taking those flaws into consideration, Realtor Bernard Katzmann listed it for $1.1 million at the inauspicious sales time of Thanksgiving. Then he watched in amazement as 22 offers came in – many for all cash – and it ended [...]
Read More →“As one of the Bay Area’s largest construction firms, Webcor Builders provides a handy barometer of the region’s economic vitality. The San Francisco company’s workforce, which topped 2,200 in 2008, has shrunk to about 1,200. But this year it plans to add about 500 workers, primarily skilled union tradespeople – many of the same folks [...]
Read More →At its Tuesday meeting, the Federal Reserve reaffirmed its pledge to keep interest rates low and opted to not take any new measures to bolster the economy, saying the economy has already been showing signs of “expanding moderately.” The economy has shown some improvement in employment and consumer spending in recent weeks. However, the Fed [...]
Read More →These are a few excerpts from a rather long article in November 5th edition of The Economist, “Housing and the Economy: Rising from the Ruins”. It joins what seems to be a growing, but certainly not universal consensus (per the recent JP Morgan and Hanley Wood analyses) that even nationally – much less San Francisco, [...]
Read More →Dr. David Kelly is the Chief Market Strategist for J.P. Morgan Funds, and David M. Lebovitz is a Market Analyst on the J.P. Morgan Funds U.S. Market Strategy Team. They’ve just issued a 12-page report on the US housing market, titled ” Housing: A time to buy.” Below is an excerpt from the report’s Foreword: [...]
Read More →A market trends overview by the Paragon Real Estate Group for San Francisco Home Sales of $1,500,000 & Above October 2011 Update It’s not unusual for the high-end home market to slow down during the summer months, just as it does to a greater degree during the holiday season from mid-November to mid-January. However, this [...]
Read More →For the sale of San Francisco houses, condos, TICs and 2-4 unit buildings by week through 9/25/11, as reported to MLS.
Read More →“Although the U.S. housing market continues to struggle, many local markets are doing significantly better than the country as a whole, with some places virtually missing the housing bust altogether. While shifts in home values are important in any market, it’s important for sellers to determine the length of time a property can expect to [...]
Read More →These charts track SF market activity through 9/11/11 for houses, condos, TICs and 2-4 unit buildings. Inventory finally started to creep up a little – though still terribly low by historical standards — fueled by an influx of new listings. Hopefully, this will continue in the coming weeks. Last September saw a huge surge of [...]
Read More →September 2011 Update August 2011 Market Snapshot As compared to August of 2010, we had 25% fewer listings for sale as of 8/1; 6% fewer new listings; 28% more listings accepting offers; 7% more closed sales; 30% fewer expired/ withdrawn listings; and 28% fewer listings for sale as of 8/31. Every statistic points to a [...]
Read More →“The number of technology jobs in San Francisco will soon surpass the record of 34,000 set in 2000, during the dot-com boom. It’s transforming once-troubled neighborhoods and setting off a scramble for pricey apartments. Reporting from San Francisco— When Twitter inventor Jack Dorsey decided to start a new company last year, he bypassed Silicon Valley [...]
Read More →Julian made some excellent points at this morning meeting, especially his thoughts that the current stock market volatility does not compare to the September 2008 financial markets meltdown. Remember his website: www.thebasispoint.com. He mentioned how current conditions have once again plunged interest rates to the realm of historic lows. Here are the 5 year and [...]
Read More →“San Francisco Assessor-Recorder Phil Ting announced Thursday that the value of the city’s real estate grew by nearly $2 billion in the past fiscal year, a contrast to decreasing property values in most other parts of California. The total roll assessment value, a combination of residential and commercial property values, grew by 1.3 percent to [...]
Read More →The tech sector followed by the financial/business sector has fueled the growth in San Francisco causing rental rates to increase more during the 2nd quarter than in any other of the previous 10 quarters. For Q2, 2011: The city wide vacancy rate continued to drop for the quarter to 13.3% with Class A and Class [...]
Read More →It’s a truism that the correlation between what a property will sell for vs. what it will rent for is one of the fundamental ways to assess whether a home is reasonably priced. In a recent Economist article, they said they believed that based on this equation, US homes were now very slightly undervalued. As [...]
Read More →“Despite Fears, Owning Home Retains Owning a house remains central to Americans’ sense of well-being, even as many doubt their home is a good investment after a punishing recession. Nearly nine in 10 Americans say homeownership is an important part of the American dream, according to the latest New York Times/CBS News poll. And they [...]
Read More →These are weekly market activity charts for the past 6 months through June 12, 2011 for San Francisco houses, condos, TICs and 2-4 unit buildings. The market slowed down for the Memorial Day holiday, but picked up a bit in the second week of June. Accepted-offer activity is below the levels seen in May — [...]
Read More →House distress sales remain concentrated in the southern border neighborhoods in districts 10 and 3 (especially as a percentage of sales in those areas). District 9 dominates distress condo sales.
Read More →The Controller’s Office just issued their Economic Barometer report for February 2011. As you can see in the last column, almost all the trends are now marked “Positive.” 1-BR apartment rents are up 17% in 12 months. They mark Median Home Sales Price Trend as “Negative”, but February’s median reflected an unusually high number of [...]
Read More →Is It Strengthening or Declining? Some of our readers have been understandably confused between the bad news reported elsewhere and our recent reports of a strengthening market in San Francisco. Besides the possibility of specific agendas, there are some legitimate reasons behind the apparent disconnect:
Read More →Here are weekly market charts for MLS activity of houses, condos, TICs and 2-4 unit buildings in San Francisco for the past 6 months through the week ending on April 24th. By May 7th, the monthly newsletter will come out with monthly and quarterly trends in a greater range of analyses. All data within is [...]
Read More →These are weekly market dynamics charts for the past 6 months for activity in the San Francisco home market — houses, condos, TICs & 2-4 unit buildings — through the week ending April 17th. The data is from Broker Metrics, which crunches the numbers from the SF MLS system. click for larger image Home Listings [...]
Read More →SFGate.com — the SF Chronicle website — ran an article today, titled “Bay Area Condominium Sales, Prices Tanking”: From Paragon’s Director of Business Development: It talks about how financing difficulties, foreclosures and increasing HOA dues have hammered the Bay Area condo market. All of those issues are indeed important factors in today’s market, but they [...]
Read More →The Paragon Market Update Report looks at prices and market dynamics in the different neighborhoods all over the city. Select the neighborhood to access the latest neigborhood details.
Read More →NAR just released their 2010 Profile of Buyers and Sellers. Below are charts regarding Buyers’ use of media and other informational resources in finding the home they purchased.
Read More →These charts track activity by week for the past 6 months through January 16, 2011 for SFDs, Condos, TICs & 2-4 Unit Buildings. The market is starting to wake up after the holidays. New Listings: Starting to accelerate after the big slow-down of late December. click to enlarge Listings For Sale: Increasing slowly but still [...]
Read More →2010 saw a very strong spring market turbo-charged by federal and state tax credits, a much slower summer, and then a strong finish from Labor Day on. The 4th quarter of 2010 had more accepted offers than the 4th quarters of 2009, 2008 & 2007. Comparing 2010 to 2009, overall median sales prices for SF [...]
Read More →Informal Reviews & Formal Appeals for the 2011/2012 Tax Year If you believe your home may be eligible for a reduction in property taxes based upon a decline in value, there are two ways you might proceed: an Informal Review by the San Francisco Assessor’s office and/or a Formal Appeal with Assessment Appeals Board.
Read More →By Kelli Galippo • Dec 21st, 2010 These are the Federal Housing Administration (FHA) single family residence (SFR) loan limits, effective January 1, 2011. Actual loan limits are established for each county, depending on whether they are considered a high-cost or low-cost area.
Read More →By Kelli Galippo • Dec 13th, 2010 • Many sales factors are to be considered when setting the most competitive asking price for a home. A well-considered asking price for a home is a price carefully based on market conditions. Be realistic about the sales price you are actually willing to accept for your home [...]
Read More →By Kelli Galippo • Dec 15th, 2010 • California communities with a high volume of foreclosures are struggling to maintain the appearance of their neighborhoods as the influx of renter-occupants invests less time in the upkeep of their homes. When investors buy up foreclosures and rent them out, the increased renter-to-homeowner ratio means neighborhoods are [...]
Read More →FDIC Reports High Volumes of Delinquent Construction Loans By Kelli Galippo • Dec 13th, 2010 Nationally, one out of every six dollars of construction and development (C&D) loans issued by banks, roughly 16% of all C&D loans, are at least 90 days delinquent as of September 30, 2010. Another 2% are 30 to 90 days [...]
Read More →Pending sales activity in the San Francisco housing market jumped 22 percent from November 2009 to 2010, according to the latest Market Focus report, published jointly by the Rosen Consulting Group and the San Francisco Association of REALTORS®.
Read More →Despite mostly negative reports from other parts of the country, the San Francisco home market has performed relatively well since the autumn market began after Labor Day. Indeed, the number of listings accepting offers in November was well above last year’s and the median home price is at its highest since the April tax-credit crush. [...]
Read More →On Tuesday we started with the doom and gloom by showing you the predicted worst places to invest in real estate in the coming new year. In the spirit of bad news first, here’s the good news. Experts also predict some “best” places to invest, American cities where the housing market is expected to a) [...]
Read More →The San Francisco Real Estate Market – December 2010 Update Despite mostly negative reports from other parts of the country, the San Francisco home market has performed relatively well since the autumn market began after Labor Day. Indeed, the number of listings accepting offers in November was well above last year’s and the median home [...]
Read More →Oct. 2010 Sept. 2010 Oct. 2009 CA Unemployment Rate 12.4% 12.4% 12%
Read More →The monthly Market Charts Dynamics newsletter will come out next week (after all November’s data is in). Here is the updated ROI Chart comparing major stock indices with SF home values since January 2000. Comparing stocks with real estate is like comparing apples with bagels, but still it’s kind of interesting. Weekly Activity Charts through [...]
Read More →The past and future of jobs in California: the number of people employed: October 2010 13,938,200 September 2010 13,838,400 October 2009 13,963,000
Read More →32,669 new and resale homes closed escrow in California during October 2010, down 21% from one year ago when 41,280 sales closed escrow. Statewide, sales volume has continued to show its recent downward trend both in annual and monthly sales: home sales have dropped slowly but consistently since June of this year. Southern California (SoCal) [...]
Read More →After a relatively slow summer, the number of new listings and accepted offers in San Francisco soared after Labor Day. Median prices remain stable; mortgage rates hit yet another low; and the Blue Angels returned. As usual, pundits are divided between this being the best time to buy a home in decades (a growing number) [...]
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