An elegant white clock featuring 'DANIELLE LAZIER REAL ESTATE LOGO' on a sleek black background.Vivre Real Estate logo

ABC News Team 7

May 30, 2008

San Francisco may be leading a turnaround in the real estate market. Available mortgages and lower prices are major factors, but there may be something else fueling city home sales.

There's no doubt the latest numbers are an encouraging sign. Perhaps the real estate market is on the cusp of change and sellers seem to agree.

"We kind of decided we'd test the waters and see what happens, and things happened a lot sooner than we thought," said 79-year-old Beverly Weber, a San Francisco home seller.

To watch the news reel, click here.  ABC Local News




Continued..
 
Beverly and her daughter Nancy are convinced the San Francisco real estate market is making a comeback. They're still unpacking after moving from a house where mom had lived for 55 years.

"Then our house sold so quickly, we were just so surprised, and we had a few offers within a few weeks, so when we thought we would be taking nice cruises on Sunday looking at houses, it became a race," said Nancy.

Real estate agents tell us this is happening for two reasons. Lenders are starting to write mortgages again, although very carefully. And home prices may have bottomed out.

New Dataquick sales figures show the number of sales went up 6.5 percent in San Francisco last month, compared to a year ago, while prices slipped about five percent.

"You have prices that are not as astronomically high. There aren't as many buyers competing, even though it's not easy to find a property, it's not as hectic as it was, say, in the past couple of years," said John Asdrounian, a director of the San Francisco Association of Realtors and from McGuire Real Estate.

San Francisco and other urban centers may be benefitting from people tired of the high price of gasoline prices and who prefer instead to walk to work, local attractions, and want to rely on good public transportation.

The Wall Street Journal says downtown areas in Chicago, New York and Boston are starting to see the same trend emerging.

"They want to walk to restaurants. They want to walk to plays, concerts and so forth. So it's a much more urbanized feeling and desire that most people have at this time," said Betty Taisch a San Francisco Association of Realtors director.

Month to month sales and price figures tend to be very volatile, but there are some early signs in San Francisco that the market may be starting to stabilize.

(Copyright ©2008 KGO-TV/DT. All Rights Reserved.)
Tags: ABC+Local+News+7, ,
Yelp logo
286 reviews
View All
Zillow logo
204 reviews
View All
Danielle Elazier Realtor on Google My Business- image of Google my business logo
204 reviews
View All

Danielle lazier real estate team

We care deeply about our clients and our commitment to exemplary results. Working with us should be a good fit for you. If you feel our team is the right fit for you and you’d like to talk with Danielle to make sure, contact us today for your complimentary initial consultation.
Contact Me

Do You Need Another Real Estate Newsletter?

Probably not. Yet, in our biased opinion, you should definitely sign up for our twice-monthly email for market insights, webinar invites, local news, gorgeous homes, and more. We never share or sell your information. And, when you’re ready to work with us, please email or call to discuss your plans. We’d love to help!
Consent
Danielle Elazier botanical illustration - 3 different California poppy flower branches. Black and white with line art
Danielle Lazier REAL ESTATE
Privacy PolicyAccessibility StatementTermsCalifornia Privacy PolicyCCPAYour Personal Info
View Full Street Address SAN FRANCISCO, CA 94114 (415) 528-7355 ©2008 VIVRE REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES, OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS, AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT, OR ZONING EXPERT. IF YOUR PROPERTY IS CURRENTLY LISTED WITH ANOTHER REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL ESTATE BROKERS. WE COOPERATE WITH THEM FULLY. EQUAL HOUSING OPPORTUNITY. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED AND SHOULD BE INDEPENDENTLY REVIEWED AND VERIFIED.
enteruserclockcross