by Gary Belk | Oct 16, 2015 | Uncategorized |
Buyers Have Reason To Celebrate, For A Change! Now is the best time to buy in San Francisco I’ve seen in years. Historically, the autumn market is calmer with less competition. But, this year, for the first time in several years, the competition is less than usual, making this the perfect time to purchase. Looking back at the statistics from the past few years, we traditionally see a dramatic increase in price each January. For instance, last year the median price for a home in San Francisco that went into contract in December of 2014 sold for $925,000; in January the figure rose to $1,115,000! While this figure may be skewed, since it is the median price for all home types, it does show an upward trend on price that each new year adds. Bonus Benefit for Buyers. The frenzy has slowed as we enter the year end.. For example, instead of buyers being overwhelmed having to compete with 6 to 10 offers, we are now having to compete with an average of 3. As I write this, I know of several great properties that have been on the market for 30 days or more than can be purchased without competition — allowing you, the buyer, to make the right decision instead of a frantic decision. (That’s right! Call me now before these hidden gems sell, as buyers, can actually negotiate the price and terms of the offer!) We are not declare declaring that the seller’s market that has been surging for the past 4 to 5 years is over, but buyers are currently receiving a welcome respite for...
by Gary Belk | Oct 16, 2013 | Blog, Home Improvement, Neighborhoods, Properties with Potential, Real Estate, San Francisco Real Estate |
by Gary Belk After a busy 3 quarters of rising prices, bidding wars and limited inventory the traditionally calmer 4th quarter has arrived. During autumn our market tends to be a bit slower paced and easier for buyers to navigate. If you are in the market, you are in luck for two reasons: First, many buyers are distracted by the start of school, the end of summer and the coming holidays. Second, a seller with their property on the market at this time of year is a motivated seller. This is the time of year we see many relocation’s, probate and distressed properties on the market because they need to sell. We also have a few properties that were overpriced in the summer and now the sellers are starting to be realistic. All of these factors combined make for the ‘perfect storm’ buyers. So grab your all weather gear and give me a call! Here is a selection of some of my favorite properties: Great property for Land bank Land banking is buying a property for the future development of the land. This property is a perfect example. It is located on an RH-2 lot (can be up to 2 units). Hold this property for 10 years and you’ll be sitting on a gold mine. In the meantime rent the house and pay the mortgage. Perfect home to update This home is located in popular Noe Valley. It has un-permitted space on the ground floor and needs cosmetic upgrades. With these issues remedied you have a great family home for a great price in Noe. Best home for a...
by Gary Belk | Sep 29, 2013 | Before and After, Blog, Home Improvement, Properties with Potential, San Francisco Real Estate |
by Gary Belk Good ideas for narrow homes: The home in this article is only 10′ wide, makes the SF standard 25′ wide home feel spacious! Other by Washington Architects & Designers KUBE architecture Good ideas for narrow homes: Design Lessons From a 10-Foot-Wide Row House Architecture, interior design, and more ∨Browse living room ideas, from sectional sofas to chandeliers and floor lamps, for your next interior design project. Browse inspiring bedroom design, then outfit your own beds, convertible sofa beds ordaybed with luxury bedding and decorative throws....
by Gary Belk | Sep 6, 2013 | Blog, Neighborhoods, Real Estate, San Francisco Real Estate |
by Gary Belk Well actually the sound of construction and moving trucks! Potrero Hill real estate has suddenly exploded. After months of no inventory there are now several nice properties on the market. If you haven’t explored the neighborhood now is the time. I moved to The Hill (as the locals call it) in June and have fallen in love. The weather is great, the clerk at the dry cleaners remembers my name and the shopkeepers along 20th Street stand out front and speak to me as I walk by. With the best weather in the city; it’s strategically located close to the 280 (easy access to the South Bay), the new mega biomedical China Basin and UCSF and it even has it’s own Cal-train Station. To top all of that, unlike SOMA and other parts of the city it has a distinct small-town feeling with a slew of great eating options, neighborhood parks with playgrounds and tennis courts and of course views of downtown and the water. Here are some links that will help you explore The Hill (as locals call it) from the comfort of your sofa. Around the Hill One Badass Block (7×7 Magazine) One of My Favorite Places The Good Life Grocery Mission Rock Real Estate Currently Available [idx-listing mlsnumber=”412280″] [idx-listing mlsnumber=”412522″] [idx-listing mlsnumber=”412427″] [idx-listing mlsnumber=”411376″] [idx-listing mlsnumber=”412348″] [idx-listing mlsnumber=”412519″] Have you been to The Hill? Tell us what you like most about the area? ...
by Gary Belk | Aug 22, 2013 | Business, Real Estate, San Francisco Real Estate |
Don’t Be Scared of Those Rising Interest Rates – They’re Actually Good for Housing! Here in San Francisco, we are beginning to see two interesting trends in the real estate market. The first trend pertains to the method of payment in transactions: cash. During the first half of 2013, 35% of the transactions were cash. This tendency toward cash could be due to an increasing difficulty in getting a loan or it could be that the seller wants to close fast and is not willing to wait for financing if a cash offer also comes in. Cash transactions have another added benefit: the guarantee. In my two decades of experience in real estate here in the Bay Area, I know that a small but meaningful percentage of transactions with financing will fail. Many of my sellers tell me they prefer cash deals, even if the sales price is lower. The second interesting trend is that rising rates are beginning to cause lenders to offer a wider variety of products and underwriting practices are getting back to pre-recession “normal”—no more having to use you’re first born as collateral! How these two are changes a good thing? Two reasons: one, with easier financing sellers have started to realize that waiting a few extra days for someone to get a loan is worth getting a higher price, and two, higher rates do take a few buyers out of the market and this will have a gentle cooling impact on the market as a whole. With a reported 25% increase from May 2012 to May 2013, the market needs to cool a bit....
