First American Title is helping us in defining each neighborhood in the city.  As a first time homebuyer where do you want to live?  Here is a brief overview into the “free spirits” areas in the city by the bay.

Noe Valley, The Mission and The Castro

During the dot-com boom, Noe Valley was like the overlooked teenager suddenly discovered by the cool crowd.  Wannbe high-tech millionaires came for the easy access onto Highway 101 heading directly in to the Silicon Valley and stayed for the pretty Victorians and charming shops and cafes along the 24^th Street.  Competition for homes in the neighborhood became fierce and dipped only slightly after the economy went bust.  On sunny weekend mornings crowds of residents pushing strollers or leading dogs on leashes down 24^th still wait for brunch tables at Miss Millie’s or Savor for over an hour.  Browsing through the unique gift, home decor and clothing boutiques that line the street helps pass the time.  The original location of Martha Bros. Coffee attracts a crowd of locals reading the paper or chatting on the benches outside every morning, but if it’s full you can always get your cup filled a little further down the street at Tully’s or Starbuck’s.

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When analyzing San Francisco real estate, it’s important to look locally and at specific property types.

For example, the Bernal Heights single family market could be booming while the Pacific Heights condo market is in the dumps.

(Not that I’m suggesting this, of course! Quite the contrary. Most of San Francisco real estate is humming along, marching to our own Cali beat.)

The chart below shows single family home sales by real estate district. Even within the districts, there are variations but this will give you a general sense of:

• Are San Francisco single family home prices up or down?
• How long are these homes taking to sell?
• How many homes are selling this year compared to last?

What you’ll notice is that even in Districts where average prices are down, the number of sales is relatively constant. This, my friends, is why us San Francisco real estate owners are pretty well insulated. There is just not that much inventory, even in a down market!

Got a question? Let me know and we’ll get right to it.  

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First American Title is helping us in defining each neighborhood in the city.  As a first time homebuyer where do you want to live?  Here is a brief overview into the “Good neighbors” areas in the city by the bay.

Potrero Hill / Bernal Heights

For a strong sense of community consider the hillside hamlets of Potrero Hill or Bernal Heights.  Both sit atop hills and have lovely views of the Financial District’s southern skyline and the city below.  Quaint commercial districts and nice single family homes, many with small yards, make them great for families (and dogs!).

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There are 5 factors that affect your home sale, whether yours is a Castro condo, a Bernal Heights home or a Noe Valley Victorian. They are Location, Financing, Condition, Price and Exposure.

Location = Where your home is located. The block, the neighborhood, the position on the lot, etc. Obviously, this cannot be changed and is out of everyone’s control but does affect market value.

Financing = The current state of the mortgage and lending markets. What type of financing is available and what types of buyers will qualify. Again, out of everyone’s control but also does affect market value.

Condition = How your home shows. Is it staged, de-cluttered, sparking clean? Are you living there or is it vacant and pristine? Have you done the repairs and fix-ups suggested by your agent? Is it freshly painted? This is within your control and will affect your home’s value.

Price = How is it priced? Is it priced below market value to generate buyer interest and distinguish it from the other homes it is competing with? Is it “Best in Class?” Or, is it priced at or above market value? Do buyers and Realtors perceive it to be over-priced & are sitting on the sidelines until you do a reduction? Again, this is within your control and will affect your sales price.

Exposure = Believe it or not, this is the only aspect controlled by the Realtor! Of course, we give a lot advice and input on the Condition and Price but, ultimately, it’s your house and your decisions. Exposure is the marketing. Is it on the Internet with lots of great, professional photos? Is it easy to show? Is it being promoted to the agents who have the buyers for your type of property? Are the statements pretty, descriptive and memorable? Do they have photos? Is there a sign on the property? Does the MLS listing look attractive and compelling?

Please read today’s Chronicle article about selling in today’s San Francisco real estate market. In summary, homes that are priced competitively and show great are selling quickly while over-priced ones or ones that don’t show well are sitting on the market and sometimes, never selling!

It’s a quick, interesting read. See PDF. File Attachment: Chron Real Estate Article.pdf (58 KB)

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