The flower on the left was at a listing a couple of weeks ago on San Antonio. Gorgeous!
My take on what might be happening out there.
My San Francisco friend/agent, Chris Stafford, with the Paragon Real Estate Group sent his monthly newsletter over to me.
This may be interesting to you. If you’d like to see the full newsletter, let me know, and let me know if you’d like for me to introduce him to you!
What does this have to do with Alameda? Quite a bit. Buyers are moving to less expensive areas around the bay, and we are seeing some of the SFer’s here, if you have not noticed. First they look in Berkeley, then in Oakland, and then they find our bridges and tubes, and realize this may be the place to park it for a good long while.
The amount of competition deeply affects home price increases.
There are still a very large number of buyers looking at listings online and at open houses. But more of them appear to befirst-time buyers and they are proceeding more cautiously. Some buyers are burned out on the multiple-offer bidding frenzies of last year and are reluctant to participate in them. Though the market remains hot by any reasonable standard, by some statistical measures it is cooling. This may reflect a transition or only a lull before the spring sales season begins.
Recently, the investment-property analysis firm Reis speculated that SF apartment-rent growth — which has been extraordinary by any measure, especially in a period of low inflation — will slow despite intense demand and very low vacancy rates, simply because people can’t pay any more. It’s an idea which may or may not be correct or apply to other types of housing costs. Rent rates do play a role in purchase prices as buyers often compare the net housing costs of the two options.
Active listings this week – 46
Pending listings this week – 51
PCH price change 2 (a big one for my listing @ 463 Cola Ballena!)
Withdrawn temp 2
Get me to rehab this has been sitting around for a while but potential is there!
Get me a makeover some major remodeling to do here…but not like the one above!
Always happy to give referrals to vendors you may need! Think of me! Just gave one to a friend today. I may have someone you might want.
We’re done! Carry on! Get your stuff ready for the shredding party!