Optimistic Investors Finding Deals In San Francisco
The tide is turning in San Francisco too. As we talked about earlier with Karl Case of the Case Shiller index saying the statistics indicate we have hit bottom in the market. Now word come from the SF Gate that the sentiment in the San Francisco Bay area is that the deals now are too good to pass up.
Consumer sentiment plays a huge part in the real estate market. Which is why we get the bubbles and the downturns. When the herd of buyers that have been sitting on the sidelines re-enter the market, the supply will dissipate rather quickly.
Then we will come back with a normal market for a period of time until speculators and buyers push the pricing beyond the comfort zone. And then guess what, we will have another downturn.
Markets are so interesting unpredictable yet utterly predictable at the same time.
Those in San Francisco may look up there real estate agents number and take a peak at what is out there. You may be in for a deal.
Not so, according to some individual investors, who think the market slump has made selected pockets of the Bay Area more desirable than they’ve been in years.
“Look at this,” said Dan Shiner of Mill Valley, one such investor who was en route with his agent to visit properties for sale in Santa Rosa last week. “This duplex sold for $599,000 two years ago and now it’s listed for $414,900. That’s why people like me are coming out of the woodwork.”
Shiner, who works in finance, said he avoided investing in local real estate for years because prices were so ridiculously high. But the current market has drawn him back in because suddenly he sees relative bargains. Last week he looked at a dozen Sonoma County duplex and triplexes, and had offers accepted on two.
“The way prices have come down is absolutely amazing,” he said. “I think it’s a phenomenal opportunity for the small investor to buy their first rental properties.” via SF Gate
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Comment by Adam Ross on 10 May 2008:
I was looking at websites under the keyword San Francisco Real Estate and came across your website. I see that you’re not ranked on the first page of Google for a San Francisco Real Estate search.
I’m not sure if you’re aware of why you’re ranked this low but more importantly how easily correctable this is.
(Edited as the rest is a running commercial for his site.)
Comment by Tom on 10 May 2008:
Adam
I know you are drumming up business but this is why I edited your post. But the premise is interesting.
You are offering to get me onto the first page of Google but you never looked at the site to see it is a national real estate site that ranked high enough for you to find it in Google.
I rank for many terms and San Francisco real estate is just of one of thousands that I do for.
But thanks for the offer.