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GLEN PARK REAL ESTATE–September recap

October 9, 2023 by Amanda Martin

Happy October! This has got to be one of the best months in San Francisco. We’ve got our true summer, and then there’s Halloween, and everything fall related. Taking my son trick-or-treating on Chenery St. has always been so much fun. I love the energy and spirit in the neighborhood on Halloween, and how everyone comes together to make it safe and fun. My lovely clients on Mizpah (now moved away) had the most amazing setup.

Here’s a picture of their place in 2018:

This year is somewhat bittersweet for me as my son is now 13, and he’s on to preferring his friends for Halloween company, but it’s also fun to see him finding his independence!

So, how about the real estate market? As we sit around waiting for the mortgage rates to go down, they continue to go up. Right now the rate is hovering around 7.4% for a 30 year fixed. Not appealing to a lot of buyers. We are seeing many more sellers who want to get into contract faster, or for a higher sales price, offering 2-1 buydowns. This is a program with lenders where a fee is paid and then the loan will have a rate 2% points below the market rate for the first year and 1% on the second year. The thinking here is that sometime within the next 2 years that buyer can refinance into a lower rate long-term loan.

To put this into practical terms for perspective – if a seller is willing to give a buyer a $30k credit on the sale, if that just comes off the sale price for the loan with no buydown, the buyer will save about $200/mo on their mortgage. If that goes to a 2-1 buydown, that will save the same buyer about $1700/mo for the first year, and about $850/mo for the second year. Most lenders are also offering no fee refinances within a number of years. Good question to ask your lender if you’re thinking about buying!

The inventory has definitely risen as expected after Labor Day, but the absorption rate (rate of properties going into contract in relation to listings available) is still down. If you’re buying or selling in this very interesting market that we find ourselves in, definitely talk through what creative options you have available to you. There are options!

I’m still anticipating that we’ll see rates go down some by the mid-to-end of next year, but no one has that crystal ball. It’s an uncertain time for many reasons – but yet, life still goes on! People get jobs in different locales, people need to downsize, people have children and need to upsize, or someone adopted 5 rescue dogs because there are so many needing homes after the pandemic rush on dogs and now they need a much bigger yard. I’m seeing a lot of buyers entering the market and just waiting for that “perfect” place. This is why presentation is so important right now – if you’re looking to sell, know what the biggest “bang for your buck” improvements are and do them. Don’t miss out small changes that can make a big difference. A good real estate agent can give you a valuable assessment and recommendations regarding what really moves the needle.

Here’s a look at what sold in the month of September:

Here’s a look at what’s currently in contract:

And lastly, the inventory that is currently available in Glen Park:

Until November…

For more San Francisco sales data, visit: thegoods-sf.com/AmandaMartin/

Amanda Martin
BarbCo Real Estate Group
415.601.9111 (Text/Call)
Amanda@RealEstateSF.com

Filed Under: Real Estate, Uncategorized

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IMPORTANT UPCOMING DATES

Arlington Path Beautification
Saturday, July 19, 10 a.m. to noon
Meet at 300 Mateo (x Arlington) for an exciting day of weeding, watering, seed collecting.
Tools, gloves and good company provided.


2025 Glen Park Night Market poster


 


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First Saturday of the Month (usually)
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Glen Canyon Habitat Restoration
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Join the Glen Park Association and help promote our community’s interests. Together, we can secure improvement funds, publicize neighborhood concerns and strive to speak as one voice on neighborhood and city issues.

Membership in the Glen Park Association is only $10 annually and can be purchased online.

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Glen Park Association is at Glen Park Greenway.
13 hours ago
Glen Park Association

Saturday’s Glen Park Greenway Work Party is Cancelled.

“I’m very sorry to say that
we have cancelled our Work Party for this Saturday July 12, along with all organized volunteer activity on the Greenway until further notice.
As you may have read in the news, our fiscal sponsor, San Francisco Parks Alliance (SFPA), has shut itself down. Just as SFPA has shut itself down, the Greenway, as an organized part of SFPA, has also been “shut down.” We are busy looking for a suitable alternative fiscal sponsor that is willing to replace SFPA. That search is going well but it is a slow process. We had hoped to find temporary ways to enable the Greenway project to function responsibly as a community activity without a fiscal sponsor. Sadly, despite our best efforts and the help of many others in Glen Park, we have failed. That is why we must cancel our Saturday Work Party and discontinue future work parties and other organized volunteer activity on the Greenway (like weeding and watering) until further notice. We recognize that the Greenway is public open space and that the organizers of the Greenway project have no control over the activities of you or of anyone else on the Greenway. However, if you do venture onto the Greenway to satisfy your urge for outdoor recreation, please be aware that your activity is not in any way organized or sanctioned by the organizers of the Glen Park Greenway project. I’m well aware of the efforts that many of the
Greenway’s supporters are making to get the Greenway organized with a new fiscal sponsor and I’m confident that this will be arranged within weeks or perhaps a few months.
However long it takes, I will contact you with news of our progress.
Many thanks for all that you do for the Greenway.”

Nicholas Dewar, volunteer Project Director

#glenparkgreenway #glenparksf #sanfrancisco @rafaelmandelmand8 @danielluriesf @crosstowntrail
#crosstowntrail #sfparksalliance #publicspace #nature
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Wonder what’s stopping just organizing it separate from that non-profit. It seems like the volunteers largely come from Glen Park.

Glen Park Association is at Laidley Street SFO.
4 days ago
Glen Park Association

It was a beautiful day for the annual #july4th celebration on Laidley street!

📷: Photos courtesy of Michael Waldstein

#glenparksf #sanfrancisco #laidley
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It was a beautiful day for the annual #july4th celebration on Laidley street! 

📷: Photos courtesy of Michael Waldstein 

#glenparksf #sanfrancisco #laidley
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Coyote Yipps
Friends of Upper Noe Recreation Center
Glen Park Neighborhoods History Project
Open SF History
Sunnyside Conservatory
Sunnyside History
Sunnyside Neighborhood Association
Tramps of San Francisco
Upper Noe Neighbors

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