Happy Holidays! A couple of presents have already arrived for would-be home owners. The rates are finally coming down, and the Fed has indicated that they are done with raising rates. We’ve definitely seen a little bump up in activity as the rates have gone down even though we have entered the holidays, but numbers all around are down. I expect we will see a nice influx of inventory available starting in February of next year, but for those who are looking for a property now, this is definitely not the time to take your eye of the prize. Many of the best deals happen between now and mid-January. If you find something that’s right for you – go for it, and if you don’t find something that’s right, be assured that you will have more to choose from in the spring.
As our market has changed over this past year we have all found ways to get more creative to make things happen for our clients. I recently had a situation where my clients found their dream home, but wouldn’t have access to about 1/3 of the money they needed to close the deal for another year. We were able to work out a deal with the seller so that he would carry back a short term loan at 7.3% interest. This worked out great for both the seller and my buyers. Where there’s a will there’s a way!
Now, for the Glen Park numbers for November:
Here’s a look at what sold in the month of November
Here’s a look at what’s currently in contract
And lastly, the inventory that is currently available in Glen Park
Until next year Enjoy the holiday season!
For more San Francisco sales data, visit here.