San Francisco Real Estate - Janice Lee

Janice Lee International President’s Circle Top Producer, Realtor 415-832-9151 JaniceFLee@Gmail.com www.JaniceLeeHomes.com www.Bridge-SF.com DRE #01720205

It seems like every day I see national headlines decrying the “struggling” housing market and questioning when things will finally turn around. And then I get to work and read the reports from our Bay Area offices showing sales jumping and multiple offers for many if not most homes in a number of areas, and I wonder if we’re on the same planet. The disconnect between the Bay Area housing market and what’s being reported on a national basis is getting stranger every day. In other parts of the country, agents and government officials are trying to figure out creative ways to rid their markets of a huge backlog of housing while buyers show little interest in jumping in to help. Then there’s the Bay Area, where the housing market is just the opposite. Take, for example, a few of the reports this week from our managers and agents on the frontlines: From our Southern Marin manager: “Multiple offers continue to be the name of the game, but the difference from the past ma...

With 2012 well underway, there are very encouraging signs that the nation’s economy and job market are finally starting to gain momentum. If this trend continues in the months ahead, it bodes well for the recovery in housing — both here in Northern California and around the country. The U.S. economy grew at a 2.8 percent annual rate in the final quarter of last year, according to figures released by the federal government this month. This level was a sharp increase from the third quarter’s 1.8 percent rate.And there are indications that the latest GDP figure could actually be revised higher due to wholesale inventories rising in December. Even more encouraging for real estate is the fact that the labor market is steadily improving. Most analysts agree that in order to have a self-sustaining recovery in the housing market we must first have a significant turnaround in the job market.There are indications that could be happening at long last. Initial weekly unemployment claims fe...

2012 has certainly started off on the right foot. Home sales in the Bay Area were up in January. Several key economic reports showed surprising gains. And even the long beleaguered job market turned in positive numbers in the initial weeks of the new year. Bay Area home sales in January jumped to their highest level for the month in five full years, according to DataQuick, the La Jolla-based real estate research firm. A total of 5,479 new and resale houses and condos sold in the nine-county region during the month, up 10.3 percent from January 2011. This marked the seventh straight month of year-over-year sales gains. DataQuick attributed the improvement to lower home prices, record-low mortgage interest rates, a surge in investor purchases and an improving economy. While the jump in sales is encouraging, the firm cautioned that activity was still tilted heavily toward distressed sales in many Bay Area markets. As a result, the median sale price dipped 2.8 percent from the previous mo...

Bernal Heights Beauty - 765 Anderson St, San Francisco, CA. MLS# 393447 This extensively renovated Bernal beauty is a 4 bedroom 3 bath three level Victorian view home with two rooms in the attic. As you enter this home, you will find a bright & open living room, kitchen & dining room w/ hardwood floors & recessed lights. The kitchen features honey maple cabinets, cesar stone counters & new stainless steel appliances. The baths include granite counter vanities, porcelain tiles, Delta/Grohe fixtures and tempered glass doors. A brand new roof, in unit W/D, deck, double paned windows, skylights, furnace, water heater, fences, garage door, new electrical & plumbing complete this home. The lower level has 2 bedrooms 1 bath, family room w/ a separate entrance. City views! Blocks to Cortland shops & restaurants. For Sale: 4BR/3BA Single Family House in San Francisco, CA, $669,000 Janice Lee   International President’s Circle Top Producer, Realt...

Unless you were lost in a forest somewhere this week, you couldn’t have missed all the news coverage about Facebook’s much-anticipated announcement that it plans to launch an initial public offering this spring. Financial gurus have been abuzz about the deal, which could value the company at an astronomical $100 billion and make millionaires – and even some billionaires – out of hundreds or even thousands of employees, venture capitalists and even one very lucky graffiti artist, who’s stock certificates for painting murals in the company headquarters years ago will be worth an estimated $200 million. Facebook’s IPO could put a charge into the financial markets, especially the tech sector, much the way Google ignited a NASDAQ run after going public in 2004. Similarly, many real estate experts believe that the “Facebook Effect,” as it’s becoming known, could fuel strong growth in the local housing market – and not just Silicon Valley, but in nearby areas such as the East Bay and San Fra...

The end of 2011 brought a decline in the number of homes for sale throughout the city, setting up a seller’s market with prices trending up. Stronger affordability conditions, a lower cost of owning versus renting, and declining foreclosures, continue to steer the San Francisco housing market in a positive direction. Single-Family Homes Even though inventory dropped citywide by 48.5 percent compared to December 2010, the number of homes under contract only fell by a minimal 7.4 percent, while the number of homes sold dipped by 13.9 percent, ending the month at 199 properties. For homes that were priced below $700,000, the months of supply inventory fell by 66.8 percent to a reading of 1 month. For higher priced homes between $700,000 and $1.2 million, the months of supply inventory fell by 65.6 percent to 1.2 months. These short readings continue to indicate a seller’s market, where sellers have more leveraging power over home buyers.