San Francisco real estate prices on decline?

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The San Francisco real estate blog did a Craig’s List search and found that the number of listings using the word “reduced” is on the increase. Looks like housing prices are coming down a bit. It’ll be interesting to see just how far they’ll come down. In my neighborhood we just bought into the prices have actually increased a bit, but that’s cause the sun is out and HWY 1 is open again.

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32 thoughts on “San Francisco real estate prices on decline?”

  3. I don’t know about a ‘general decline’ but I do feel that the prices on CraigsList are generally inflated.

    We found savings on apartments by searching for lettings away from CraigsList. It seems to me that CL has become such a hot source for accomodation that enough people are using it to warrent high-end/speculative pricing in adverts.

    It could be that the evidence given is just CL retraining itself to the market prices. Never the less, I would look away from CL if you want to find a property bargain…

    Ben

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  4. I don’t know about a ‘general decline’ but I do feel that the prices on CraigsList are generally inflated.

    We found savings on apartments by searching for lettings away from CraigsList. It seems to me that CL has become such a hot source for accomodation that enough people are using it to warrent high-end/speculative pricing in adverts.

    It could be that the evidence given is just CL retraining itself to the market prices. Never the less, I would look away from CL if you want to find a property bargain…

    Ben

    Like

  5. Jack: Devil’s Slide didn’t open up until September, which demonstrates what I am noticing. We got lucky due to the timing of our move here. In just the past month similar houses to ours have sold for $75,000 more than what we paid for ours.

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  6. Jack: Devil’s Slide didn’t open up until September, which demonstrates what I am noticing. We got lucky due to the timing of our move here. In just the past month similar houses to ours have sold for $75,000 more than what we paid for ours.

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  9. Another bubble in pop mode…still high demand, so it won’t be as killer, per se. But for the APR and Interest Only’s and Mortaged-to-High-Heavens, even a 10-20% drop is killer.

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  10. Another bubble in pop mode…still high demand, so it won’t be as killer, per se. But for the APR and Interest Only’s and Mortaged-to-High-Heavens, even a 10-20% drop is killer.

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  11. If we telecommute do we really need to live in the city?

    Can prices in San Francisco really get any higher?

    I think the list for most expensive real estate in the world goes:

    Tokyo
    Manhattan
    Bay Area

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  12. If we telecommute do we really need to live in the city?

    Can prices in San Francisco really get any higher?

    I think the list for most expensive real estate in the world goes:

    Tokyo
    Manhattan
    Bay Area

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  15. Although I work mostly at home, I just love my mid-peninsula location which offers great weather (not too hot like SJ and not too cold like SF) and half-way to everywhere. You should move here Scoble. It’s great! ;-p

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  16. Although I work mostly at home, I just love my mid-peninsula location which offers great weather (not too hot like SJ and not too cold like SF) and half-way to everywhere. You should move here Scoble. It’s great! ;-p

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  17. Still too early for an “I told you so.” Wait 3 years and then see what houses near you are going for. You’ll start to see how bad it can get next year, when all those Option ARMs people are using to buy houses start to reset.

    Interest rates have risen enough that people simply cannot even “stretch” to afford a $700-800K house any longer. This type of situation cannot last, and you’ll see houses in the Bay Area being re-priced appropriately in the next year or two.

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  18. Still too early for an “I told you so.” Wait 3 years and then see what houses near you are going for. You’ll start to see how bad it can get next year, when all those Option ARMs people are using to buy houses start to reset.

    Interest rates have risen enough that people simply cannot even “stretch” to afford a $700-800K house any longer. This type of situation cannot last, and you’ll see houses in the Bay Area being re-priced appropriately in the next year or two.

    Like

  21. Usually real estate prices increase over time with the increasing prices of land of a particular area, importance of location to industry, commerce, etc.

    Maybe the big boom in housing in San Francisco is over, and people can’t stand the technology-centric town anymore?

    I have no idea, just speculating i guess. I myself live in Melbourne, Australia so what do I know about real estate in SF.

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  22. Usually real estate prices increase over time with the increasing prices of land of a particular area, importance of location to industry, commerce, etc.

    Maybe the big boom in housing in San Francisco is over, and people can’t stand the technology-centric town anymore?

    I have no idea, just speculating i guess. I myself live in Melbourne, Australia so what do I know about real estate in SF.

    Like

  23. If someone has an interest only they aren’t building equity for a while, and if house prices sink they will be underwater very quickly. One potential pitfall is that some interest only mortgages have an automatic uptick… if the borrower is underwater and owes 110%, the higher payments kick in.

    My 2 cents: seems all the people who stretched and were willing to sign up for these nutty mortgates already have done so. The prices have a ways to drop before they are affordable to the people who will only buy with a 30 year fixed. There will be some good deals to be had in a year or two.

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  24. If someone has an interest only they aren’t building equity for a while, and if house prices sink they will be underwater very quickly. One potential pitfall is that some interest only mortgages have an automatic uptick… if the borrower is underwater and owes 110%, the higher payments kick in.

    My 2 cents: seems all the people who stretched and were willing to sign up for these nutty mortgates already have done so. The prices have a ways to drop before they are affordable to the people who will only buy with a 30 year fixed. There will be some good deals to be had in a year or two.

    Like

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