Source Socketsite: http://www.socketsite.com

The chart above is from the excellent blog socketsite.com, which has a great post on the San Francisco Case Schiller Index.  From the chart, it would certainly appear that we’re at or near the bottom in terms of price declines.  Assuming there are no more hidden surprises in the national economy, my sense is that we are reaching a bottom.  The question is whether the current uptick shows that we have not only reached a bottom, but are once again starting to see some slow and steady appreciation.  It may very well drop down again and stay at the bottom for several months.

On the other hand, it may mimic the stock market and have a reasonably moderate bounce back, as people generally overreact both ways: when prices are going down people are afraid of paying too much then losing money, when prices are going up people are afraid of waiting too long then paying too much. Unlike the stock market, though, there are still a lot of complex issues in the real estate market that need resolving, from foreclosures to the FHA.

Here’s a quick snapshot for all those interested in condos at the Infinity in San Francisco.  We’re not allowed to publicly post sales prices, unfortunately, so email me at michael -at- resonantproperties.com and I’ll email them to you (I will only send one email, I won’t add you to any list).

Without further ado:

]]> http://www.sfrealestateblog.com/new-developments/whats-shaking-at-the-infinity-listings-sales-etc/feed/ 0 http://www.sfrealestateblog.com/san-francisco-real-estate/is-the-san-francisco-real-estate-market-turning/ http://www.sfrealestateblog.com/san-francisco-real-estate/is-the-san-francisco-real-estate-market-turning/#comments Fri, 04 Sep 2009 15:46:13 +0000 Michael LaPeter http://www.sfrealestateblog.com/?p=82

San Francisco Real Estate Market Activity Statistics

The above chart, from Altos Research, shows the “Market Action Index” for the four price tiers of San Francisco condos.  The market action index doesn’t measure a single specific stat, such as sales price or volume.  Instead, it is a combination of those stats and more, developed by Altos Research, to give a rough sense of what the market is doing.

From looking at this chart, it would appear that the bottom was closer to April and May, and that we are now doing substantially better.  As with all statistics, though, it’s important to keep in mind this is just one piece of data.  From what I’ve been seeing, there are still many short sales out there with the potential for a fair amount more to come.

Hurry in, $8,000 Federal Tax Credit expiring soon!

If you missed out on California’s $10,000 tax credit, don’t miss the $8,000 federal first-time buyer tax credit too! Time is winding down and the program ends in just four short months. This means buyers need to be CLOSED on their homes by November 30th, 2009 in order to receive the tax break.

With prices starting from the $500,000s, Arterra offers outstanding value, and many homes offer city and water views. Officially the first LEED-Silver certified high rise in the City, Arterra features many unique green and sustainable attributes and is a great example of how sustainability does not have to come at the expense of amenities and value.

Arterra LEED-Silver attributes include:

• Increased use of recycled materials
• Innovative uses for end of lifecycle resources
• Increased diversion of waste to landfills
• Sod-covered “living” rooftops to help reduce heating and cooling costs
• Renewable materials in the building’s public spaces
• Energy Star appliances in every home
• Building exterior covered in Trespa, a material made from end of lifecycle recycled materials