A few weeks back I wrote about developers finally waking up to the realities of the current market in our fair city by pricing select chunks of their inventory at very attractive (reduced) prices. Attractive enough I thought, to spur some buying activity in what might be more politely termed a "freaked out" consumer environment. Well gentle readers, I'm happy to report that it seems to have worked. At developments across the city buyers have shunned the negative and accented the positive by putting roughly 10 units into contract at each of a handful of communities from Mission Bay to South Beach and back to the Van Ness corridor.
It is heartening to know that even during a period where federal bailouts are racking up scary hash marks on the billions spent spread sheet; buyers are confident enough in San Francisco's market to put their hard-earned money toward a downtown condo. Maybe it's a contrarian view that is driving these people toward a purchase that a lot of folks might run from right now but one thing is certain: these intrepid individuals are getting some great deals on prime property.
This happy occasion reminds of something that I've heard often in the real estate industry when things get challenging: People will always need to buy or sell, no matter what. This is essentially an elaboration on "Life goes on." People get transferred, lose jobs, get new ones, get married, have babies, etc. This continues to happen regardless of what the stock market does, who the president is, or if Britney Spears releases a new single.
So if you are delaying making a decision about whether to buy or sell property and its starting to have an impact on your quality of life, I recommend speaking with a professional. My contact information is on the banner at the top this page.
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