As the city’s housing market ping-pongs around in the new normal of COVID-19, a few facts are emerging. First, single-family homes are selling and at a good clip. Second, we’re creeping up to a six-month supply of condos in the city — the largest I’ve seen since the Great Recession. And the mainstream press has yet to report on it. What the Media is Missing Right now, current real estate headlines are touting: People are ‘fleeing’ cities, which is not …
Month: July 2020
Relationships can be rough. And I’m not talking about the romantic stuff. Your doctor, your therapist, your accountant — it can take a little trial and error before you land on a winner. The same goes for your real estate agent. If things aren’t working out, don’t suffer through it. No matter how much your friend raved over a particular agent, and depending on agreements you may have signed, it is possible to end the relationship. Here are two signs …
News articles and blog posts about San Francisco have recently quoted real estate “experts” espousing everything from inventory being up to nine-year record inventory levels, to the all-time-high median sales price we just hit, to the well-documented stampede out of the city as working remotely became the new normal. And the truth is there’s evidence that real estate in the San Francisco Bay Area is doing all three — rebounding impressively, building inventory, and seeing price reductions creep up. But on …
Last week, we wrote a post for the proud new owners of fixer-uppers. If your idea is to buy the worst house on the best block and dump a bunch of money into renovations, read on! Unfortunately, the market doesn’t care about specific accounting or how much time, money and effort you put into your remodel. It’s not a simple equation of home price plus renovation costs equals new, higher home value. When it comes to home renovation and value, here’s the …
Last week, we shared eight tips for buying a house during times of crisis. If you’re the type who views the historically low interest rates as an opportunity, you may be the proud new owner of a fixer-upper. And in that case, a remodel may be in your very near future. If so, a recent realtor.com article offers some highlights about what average renovation costs will run you. Basic Numbers First thing first — exact prices will depend on square …
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