Today’s Upshot column in NY Times sounds possible warning bells. Be sure to check it out: TheUpshot by New York Times
Recession Worries for 2016?
Pacific Heights Living Large
I’ll be helping to show my colleague Ruth Krishnan’s fabulous Pac Heights condo this Saturday, January 30 between 2-4 pm. If you want to see what over 3,200 sf of bright and elegant living space looks like, all on a single floor, feel free to stop by and visit me. 1810 Jackson Street, at Franklin. $3.599 million.
More Details: liveinpacheights.com
The 2015 San Francisco Real Estate Wrap-Up
Happy New Year everyone! San Francisco residential real estate recorded another year of double-digit appreciation last year. Our Chief Market Analyst has been busy slicing and dicing the data every which-way, and has created over 20 charts that serve up the market from soup to nuts (which, is exactly how some people view it!). You can experience the full meal at Paragon Real Estate Group’s main website. I’m doing the prix fixe menu here for those with less time and/or appetite. ...
“Bubble” or “Breather”: Whither San Francisco’s Home Market?
Just a few days ago, The San Francisco Business Times reported that a third of the national housing experts surveyed by Zillow described the Bay Area’s housing market as being currently in a bubble. Here’s the table that shows how the experts came out on the “bubble” question, courtesy of Pulsenomics, who conducted the survey for Zillow.
It’s Now a Buyers’ Market for Higher End Homes and Condos
“Months’ Supply of Inventory,” or MSI, shows the theoretical number of months needed to “absorb” available homes for sale in a given month based on the number of homes going into contract in a given month. The shorter the time period, the stronger the market for sellers, leading to upward pricing pressure. Longer time periods indicate slower absorption and a buyers’ market.
The chart below illustrates the dramatic difference in MSI for homes up to the median price ($1.3 million for houses, $1.1 million for condos) and in the next price segment higher, versus the luxury home segment, defined here as houses selling for $2,000,000+ and condos for $1,500,000+. (By this definition, luxury sales currently make up about 20% of San Francisco’s home sales.) ...
San Francisco Holiday Events Calendar
Come Visit My New Kite Hill Condo Listing
Tuesday and Wednesday night (10/20 and 10/21) from 4:30 to 7 pm, I’ll be serving wine and cheese in this great 2 BR/1.5 BA condo tucked in beside Kite Hill. The condo will serve stunning views that stretch from Corona Heights to Kite Hill, with the San Francisco skyline and views of the Bay in between. $975,000.
The Autumn SF Real Estate Market Survey: “We are neither blind optimists, nor inveterate pessimists….”
Our Chief Market Analyst, Patrick Carlisle, was recently quoted in a Vanity Fair article in the same paragraph as renowned economist John Maynard Keynes. The subject, a perennial one these days: whether the Silicon Valley, which now indisputably extends north at least as far as the new Salesforce Tower at 415 Mission Street, is in a bubble that’s about to pop. Of course, Keynes is long-dead, but we at Paragon are lucky to have our own resident guru sifting the tea leaves.