The Richmond District’s single-family median home prices rose 20.2% in 2021, with about the same number of properties selling as the previous year.
As 2021 comes to an end, we have had an amazing year in the real estate market. The question being asked at the end of the year is always, “Where is the real estate market headed?”
Do you ever wonder where all the commission money goes in a real estate transaction? With prices so high in our area, it is a significant amount of money.
As a student of real estate my entire life, this COVID-19-induced market has taught me much and introduced different concepts and principles into the market which we might never see again in our lifetime. Normally in September I write about what we can expect in our fall real estate market because it marks the start of our second selling season of the year in San Francisco.
With our single-family home market so hot, many people are purchasing condos or TIC’s (tenancy in common) as their first home. If you are thinking about buying one, carefully investigate the Homeowner Association, finances, management, and current or potential litigation before proceeding.
We have had a very good stock market with the major indexes rising 12-15% for the year. But what about the real estate market? Let us look at some data …
I was speaking to my financial advisor recently because the stock market has gone straight up for the last 12 months. I asked if the stock market has peaked and if this is the right time to sell stocks.
What should you consider before buying a home? This is an extremely important question! For most people, this is the largest financial investments they will ever make in their lives.
As we pass the one-year anniversary of the shelter-in-place order issued to slow the spread of the coronavirus pandemic, we can look back on how much we have learned about the virus.
Activity in the first two months has been decent, with good buyer demand and still very little inventory.
The newly passed Proposition 19 from the November elections that many homeowners are talking about is a double-edged sword. While touted during the election season as property tax fairness that will help out the elderly, handicapped and firefighters, it had potentially severe financial consequences for children inheriting property from their parents that most voters were unaware of.
2020 Sunset Real Estate Review – Sunset District
2020 2020 Richmond District Real Estate recap by John M. Lee.
With COVID-19 dominating every aspect of our lives, I am guessing and hoping that this is a once-in-a-lifetime event, which makes evaluating the market difficult. Our economy is in a recession and the rental market is as weak as we have seen it. Sales stayed strong in some segments and weak in others.
Now that we have been in the COVID world for seven months, certain trends have emerged in the real estate market – some expected and some unexpected.