Real Estate News: Sales in San Francisco show sign of things to come
December 5, 2012
“Sign of the times? San Francisco, Noe Valley neighborhood sells for 33% over asking.”
“The real estate market in San Francisco has picked up quite a bit since the big slump. Some neighborhoods have been more attractive than others in the rebound with family friendly and Silicon Valley shuttle convenient Noe Valley being one of them.”
“At a recent open house for a house on the market in Noe Valley, the home at 41 Clipper Ave. came on the market in mid October for $789,000. The 2 bedroom, 1 bath home had a 2 car garage but from the listing photos was in need of some TLC. At the open house, so many potentially interested buyers showed up that it resembled a crowd of fans waiting in line for Justin Bieber concert tickets.”
“The mass of people clearly indicated that the price would go for way above asking. In a mere 11 days, the home went into contract for $1,050,000 – 33% over asking. Is this a sign of the times?”
“The state its in – it will take $150-200k to bring it up to current ‘fashion’ to make it a attractive property to flip…which is very likely what it will have done to it.” – quote from a reader.
When the real estate market in the San Francisco bay area show signs of life, Santa Fe is not far behind. It is articles like this that makes me appreciate how wonderful Santa Fe is compared to where I came from. Quality of life is everything!