Buyer's Market' Defined

Generally speaking, 4-5 months supply of inventory is considered a balanced market between buyers and sellers; less than 4 months is considered a sellers’ market; and more than 5 months is considered a buyers’ market. By these definitions (as well as others), the home market in many of San Francisco’s neighborhoods is now a strong buyers’ market-which means more choice, less competitive bidding, increased price reductions, and more price negotiation. This doesn’t mean that the best-value homes aren’t still often

Continue Reading

$10,000 New Reasons to Buy a New Development This Year

Included in the recently passed California 2009 Budget is a $10,000 tax credit for purchasers of new or previously unoccupied homes. The credit is sound fiscal policy since a new home purchase generates an estimated $8000 more in taxes than the credit costs the state. Details of the how to get the tax credit are still being ironed out, but at the moment it looks as though the developer will need to issue a certificate to both the Buyer and

Continue Reading

Voluntary Refinance Best Bet for Bay Area Mortgage Relief

As reported on CBS news, and most recently in the SF Chronicle, the Housing Rescue Plan is expected to widely bypass most Bay Area homeowners. What’s the primary reason? “Only a small percentage of Bay Area mortgage holders meet the criteria for the low-cost refinances being offered to help stabilize the housing market. To qualify, loans must have been for less than $417,000 if issued more than a year ago, and homes cannot be underwater by more than 5 percent…But

Continue Reading

The Stimulus Plan – How it impacts the Housing Market

Courtesy of Julian Hebron, a local mortgage banker (aka direct lender, which are handy guys to have on-call in this lending climate) and all around guy-in-the-know, here is an update on rates, and the direct impacts to the housing market from the newly signed ‘Stimulus Plan’. STIMULUS SUMMARY—THE WHOLE BILL President Obama signed the $787 billion American Recovery & Reinvestment Act into law Tuesday, February 17. Funds will be allocated as follows, and consumers can track spending and time lines at

Continue Reading

Peak Values Vs Current SF Values

How Much Have San Francisco Home Values Declined Since their Peak? Below is an analysis of San Francisco neighborhoods comparing dollar per square foot ($/sq.ft.) at what is estimated to be the most recent peak value, to what the $/sq.ft. was for sales occurring Oct 15th, 2008 – January 30th 2009. (Sales occurring after 10/15/08 reflect the impact of the 9/15/08 financial meltdown on the SF market.) Only neighborhoods with enough sales to generate what appear to be reliable statistical

Continue Reading

Site Footer