8/31/08

San Francisco MLS adds REO & Short Sale feature

San Francisco's MLS has a new search that allows Realtors to find all REO properties. REO stands for "Real Estate Owned" by a Bank. So this is post-foreclosure... no one bought the home at Auction, and to try to get it off their books the bank hired a Real Estate agent to list and sell it.

This MLS search feature is currently only available to Realtors, but you can ask your favorite Realtor to run an up to date report for you, or check out today's reports below.

Throughout the City & County of San Francisco, as of today, August 31st, there are only 30 REO listings for Single Family Homes. Click here to see the list of all 30 homes.

In case you are wondering, there are 564 other homes for sale, so 5% of all San Francisco home listings are REO's. Additionally, you'll see if you Click Here that the REO homes are largely concentrated in the southern parts of the city. So if mainstream media got a hold of this they'd splash across the pages that 5% of all Homes for sale in San Francisco are bank owned, but in the markets I work in, there are none. The bubble has not hit the majority of San Francisco, and if you scroll down a bit you'll see the "Marina Update" as a recent example of just how hot our market remains.

Meanwhile, there are only 14 Condos or Lofts that are listed REO sales and another 548 that are on the market or only 2.5% of all condos & lofts for sale. Click here for the list of 14 Condos. And once again, most of the Condo/Loft REO's in San Francisco are in the southern neighborhoods - click here for the Map Report. Where you seen the green plus sign is an indication of multiple REO's in the same building.

If you'd like an automated search set up for REO or short sale listings, use the Automated-HomeFinder.com service found as a button below.




Thanks for Visiting the SFisHOME Blog courtesy of Rob Regan. If you're ready to Buy or Sell a San Francisco Property start with the best online tools for finding San Francisco properties: Condos, Houses, TIC's, Income properties, Co-ops, High Rises, 2-Unit Buildings and more:



San Francisco Email Search --- or --- Live SF MLS Search Service
Automated-HomeFinder.comFree Access to invite-only CleanOffer MLS Service

Click any image button to get started with your favorite San Francisco home search service, or get your Home's Value here:
Evaluate-My-Home.com

8/25/08

Granite in your San Francisco condo?

Got Granite? I do, as of this past week as part of a kitchen remodel. I missed the radon hub bub prior to my purchase and not one vendor bothered to bring it up. So.... am I concerned? And should you?

Well, I found this site, Radon.com, pretty interesting. They'd like to sell you Radon testing kits, yet seem to be saying that you don't have much to worry about - at least from your Granite counter top. The soil under your home is apparently the #1 culprit of Radon emissions in homes.

But... should you choose "engineered stone" over granite just to be on the safe side? Right now it's a matter of personal choice... engineered stone is for those who want a more consistent look. Granite is natural, and therefore imperfect.

For me... if Granite were really that bad, wouldn't we have heard about it well before granite counters became so popular? Wouldn't we have heard about massive cancer rates of towns built over granite? Wouldn't people avoid going to Yosemite to avoid the granite Half Dome??

I've got granite - do you?








Thanks for Visiting the SFisHOME Blog courtesy of Rob Regan. If you're ready to Buy or Sell a San Francisco Property start with the best online tools for finding San Francisco properties: Condos, Houses, TIC's, Income properties, Co-ops, High Rises, 2-Unit Buildings and more:



San Francisco Email Search --- or --- Live SF MLS Search Service
Automated-HomeFinder.comFree Access to invite-only CleanOffer MLS Service

Click any image button to get started with your favorite San Francisco home search service, or get your Home's Value here:
Evaluate-My-Home.com

San Francisco's District 7 - market update

A six month market snapshot for San Francisco's District 7 - includes Pacific Heights, Cow Hollow, Marina and Presidio Heights, all northern neighborhoods in San Francisco. I "pick on" this District often because it reflects a number of things that mainstream media misses over and over... one of which is that there are segments of the market that remain strong.

Click here for a 6 month report, February 27 2008 thru today, August 25th 2008. To attempt to compare only apples to apples this is only Condos, and only Condos with 2 bedrooms and 2 bathrooms.... one of the most popular market segments.

A few things to note:
1. 37 sales in 6 months = 6 selling per month
2. 6 either "Pending" or "Active Contingent" - so another 6 will close next month
3. 12 Condos listed For Sale now - or a 2 month supply.

HELLO - a 2 month supply? That's a crazy "Seller's market" isn't it?

Well, let's take a closer look:
1. the 37 sales took an average of 38 days to sell, and sold for an average of $788 per SqFt
2. the 12 that are For Sale have been listed for 66 days... 75% longer than those that sold, and the For Sale are asking $850 per SqFt or about 8% "too much"

So HOW do you read this market?

For one, a 2 month supply would be the envy of the hottest of hot Seller's markets... so it's HOT. However, you can't over price by 8% and hope to sell. Buyers are being savvy... and picky. Looking even closer, 6 of the 12 for sale have already had price reductions, yet the group is STILL 8% higher than those that Sold.

Keep in mind, this is the SLOW SEASON.... Buyers and Agents alike are on a lot of vacations. After Labor Day... there is typically a boost in sales and sales prices... so it should be interesting.

So think about this - how hot would the market be if all listings were priced accurately AND it wasn't the slow season?