This past Sunday's SF Chronicle finally wrote the story that SF consumers needed to hear. Albeit a few months after I pronounced a heated market here in my blog.
Sales are brisk and multiple offers are common. While current resale inventory is low by standard comparison there seems to be an abundance of interested buyers.
The only issue I see are the poorly maintained properties or the overpriced properties but that is the norm for any market.
Once again, the philosophy that real estate is local holds true. Have fun this week it's beautiful out there!!
Last week, I spent a few hours over at the "Web 2.0 Conference" at Moscone Center - West. Special "Thanks" to my friends Ellen Levy & Ted Shelton for facilitating my attendance. Ted you are the best!!
For a real estate guy, I had a great time!! Conferences like this suggest new and innovative ideas that I can apply to my real estate career. With topics like: Search Engine Optimization, mobile web 2.0, mash ups, gaming and virtual worlds, social networking and venture capital 2.0 one would think that I had gotten lost in downtown San Francisco but in reality it was all apart of the plan.
Granted I probably looked a little out of place. I was older than most and dressed in a suit is not what the typical attendee is all about. But what the "heck".
For years, now I have positioned myself as the real estate agent utilizing the latest technologies. And I actually practice those thoughts in my marketing, advertising, websites, blogs and devices that I use in my everyday real estate business.
Don't be surprised to see some new developments in the near months along those lines. I feel the real estate industry is in the early stages of a major shift in how we do business and I plan on being apart of the leading edge!!
Have a great week!! And remember to refer any of your friends to me who would like to buy a place or sell their existing home.
I can be reached at: 415.345.3128 direct or email: kglidewell@pacunion.com
Within my firm, we calculate some statistics on previous year sales figures and I thought this would be interesting for my "Luxury Condo" buyers.
Here is an excerpt from 2006 figures:
SF Luxury Condos/Co-ops ($1,500,000+)
District Total Sales Avg Sales $ DOM
Pacific Heights 32 $2,705,813 40
Russian Hill 20 $2,598,150 67
Nob Hill 13 $1,972,000 49
South Beach/SOMA 27 $2,246,068 45
Overall 134 $2,232,361 47
Hopefully these actual sales numbers gave give you some guidance towards what is happening in 2007 and possibly use for a baseline in the future.
The Robb Report conducted a survey that shows high end homeowners are believers in real estate as an investment.
Such as:
- When it comes to remodeling: 65% use contractors; 49% use interior decorators; 45% use landscapers, 41% used audio/video installers; and 32% used architects.
- Where did they focus: 83% bought flooring; 80% bought appliances and lighting; 80% bought new audio/visual components; 78% spent money on bathrooms; and 58% spent money on the garage.
- And what were the furnishings: 79% bought original artwork, 65% purchased an antique; 62% bought out door furniture; and 61% bought new crystal and china.
One interesting stat is that nearly 50% surveyed own a second home and 24% own three or more homes. They definitely see their homes as investments. Maybe it does take money to make money after all!!
