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Happy New Year!
As we say goodbye to 2006 we wish everyone a happy, healthy and prosperous new year. The real estate market took a beating in many areas (including the television and print media), so we in San Francisco are counting our blessings. Although our volume was down somewhat, prices did not dip significantly. Marketin times were longer (45-60 days typically), but when homes were priced right, they eventually sold.
This is when hiring an experienced Realtor really helps bring perspective to a more normal market after experiencing a period of frenzied buying and selling like we had several years ago. Buyers who finally feel like they have the power, sit back and wait for the right property and/or negotiate on the price. Sellers start to panic when they haven't gotten multiple offers in the first 10 days... all over asking price. Inexperienced Realtors tend to think the only solution is to drop the price, but that is not always the answer. Sometimes patience and persistence is the key.
For example we recently had a beautiful condominium in a really special complex near the Financial District that had been listed for over 2 months at a price well below the last comparable sale. Although many people saw it and loved it, we received no offers. The sellers had already relocated and were eager to sell, but nobody seemed interested. Then two parties became interested and both made offers -- we sold it for the asking price and closed in 10 days. Everyone was happy.
By the way, our Blog is getting a lot of interest from people who want answers to San Francisco real estate questions. Drop by and participate in the discussions. We'd love to hear what you are thinking.
The December San Francisco Real Estate Market report is now available on our website. Remember, these numbers generally reflect the sales that were made in November with a typical 30 day close. All things considered, the activity didn't change significantly. We have a new feature which puts monthly statistics going back to 2003 together on one page for easier comparison. December's history is here.
Remember, we have a stong network of agents in other areas to whom we can refer with confidence. If you or someone you know needs to buy or sell property somewhere else in the country, keep us in mind. In return for the lead, we'll give you a chance to win our Rewards for RE-ferrals contest.
Want to go skiing in North Lake Tahoe? We have a lovely 3 bedroom, 2 bath condominium available for rent in Tahoe City at a Lake front complex. Visit www........ for information.
And don't forget about our 3 bedroom, 3-1/2 bath condominium on the Big Island of
Hawaii. The property is in
the Waikoloa Beach Resort at Kolea. Because of its location, it has the best ocean
and sunset views for a 2nd floor unit and costs much less than the penthouses!
More information may be found on our website. Interest
Rates
Interest rates are
constantly changing. Foster Weeks reports in his weekly newsletter.
Sales Activity
For Sale:
 Contemporary flats overlooking Alta
Plaza Park. Each unit has 2 bedrooms, 2 baths, living room with fireplace,
formal dining room, remodeled kitchen and hardwood floors. Lower level has 2 rooms and bathroom, 2 car garage & lovely
garden. Reduced to $2,350,000
Beautiful Victorian townhouse condominium with direct access to Mt.
Lake Park from the fabulous garden. Gracious foyer with ornate details
leads to a living room, formal dining room, three bedrooms, den, two
and one-half baths, remodeled kitchen, deck, garden. Listed at $1,895,000
Sale Pending:
North
Beach Condo
Sold:
Fabulous price for this chic, contemporary townhouse end unit with views of the Bay, Bay Bridge, City and gardens! Soaring 17' ceilings in the living room with a wood burning fireplace, 3 bedrooms, 3 baths, formal dining room, 4 terraces and skylight roofs, 1 car parking. Sold for $1,595,000 See you
next month!
Janis Stone |
