Last month I was driving through San Francisco via Highway 1 (Ocean Beach). It was pretty glorious….cold with bright sunshine, even late in the day. I found myself downtown sitting and waiting for traffic to get moving onto the Bay Bridge. And when I looked up…I was right next to the Salesforce mammoth office building. So I took this photo. I started to think ‘what would I do if we had an earthquake?’ I have an emergency kit in the trunk of my car. I decided not to have those thoughts. And eventually, I got on the bridge and when I crossed Treasure Island, it was smooth sailing to Alameda.
However, what happens when we can’t get onto or off of this island? And Jamestown (who owns South Shore Center), wants to build 800 units on the east side (near the carwash)? Really?
MLS=Multiple Listing Service
AC= active contingent=the buyer needs to sell something before s(he) can complete the transaction. In this instance, another buyer might write a back-up offer. If the primary buyer can’t meet the contract deadlines, it’s bye-bye to the first buyer. And the back-up offer moves into the primary position. Be sure your agent explains all of this to you! You do NOT want to lose your deposit to the Seller.
BOM=back on the market (could be that the buyer had some conditions in the contract that s/he couldn’t meet in a timely manner).
PCH= price change (seller either raised or dropped the price)
PSB=pending sale (seller & agent wants backup offers)
REO= Real Estate Owned by the lender (The seller may have stopped paying the lender, was behind a few months, etc. It’s a foreclosure!)This the first time in years that I’ve added this to our list!
Market Stats for Active Listings
Days on market high = 105
Average Days on market low =6
Average DOM = 13
Median DOM = 14
Market Stats for Pending Listings
Days on market high = 36 (including 6 PBS)
Days on market low = 5
Days on market average = 30
Days on market median = 14
Market Stats for Sold Listings
Days on market high = 78
Days on market low = 0
Days on market average = 32
Days on market median = 33
Have a nice weekend! Call, text, email me if you have thoughts about the market, and/or questions!