Thoughts on San Francisco

Miraloma is a cute little neighborhood. Price seems pretty firm there.

https://www.redfin.com/CA/San-Francisco/190-Los-Palmos-Dr-94127/home/1239205

Potrero is very popular with younger people. Price also seems firm so far.

https://www.redfin.com/CA/San-Francisco/42-Littlefield-Ter-94107/home/739783

Is Potrero mostly Condo / Townhouses?

Yea, it looks cute, we visit to Noe Valley often.

My impression is half half. It also has quite a few SFH’s. Dogpatch, on the other side of 101, is mostly condos.

On the other side of 101 from potrero would be mission. :slight_smile: Bulk of Dogpatch is actually warehouses. And there’s quite a few condons converted from warehouse / factories. Most of them arent very attractive though - these arent the NY style lofts. :frowning:

You are right. On the other side of 280.

Dramatic Graph!

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When comparing the principal city to its surrounding suburbs, the San Francisco metro area does break the mold. Higher levels of inventory, up 96% YoY following a flood of new listings during the pandemic, are sitting on the market in the city proper, a significantly larger jump than the surrounding suburbs. Whereas in similar cities like Los Angeles, Miami, Boston, Seattle, and Washington, D.C., declining or flat inventory is a consistent trend within and outside the city limits. Relatively higher inventory has different causes by city, and is not clearly attributable to either supply or demand. In San Francisco, though, the softening is clear as sellers inundate the market and buyers have not changed their pace to match — newly pending sales in the city are up only 1.7% YoY.

Not sure if above is talking about city proper or the metro.

Here’s an answer:

Zillow economist Josh Clark tells SFGATE that the remote work shift alone has not sparked the exodus.
“It may be tempting to credit the city of San Francisco’s inventory boom to the advent of remote work that came with the pandemic, but one only has to look at to San Jose to question that narrative,” Clark said. “The San Jose metro, which like the city of SF is dominated by tech workers, has not seen a similar rise. Two things that could drive the difference are San Francisco’s density and its smaller share of family households.

https://www.sfgate.com/living-in-sf/article/2020-San-Francisco-exodus-is-real-and-historic-15484785.php

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SF Inventory level at a historical perspective. It’s around 2009 level.

Sales has responded to record low interests rate and the new found bargaining power on the buyers’ side:

BTW it’s funny how SocketSite has become the modern day Patrick.net and consistently taken the bear’s side. Has been bearish for a few years already?

Weather check, 2pm Sunday:

This is very perplexing. Other than SF, inventory is low everywhere else.

SF has a lower share of families than anywhere else in the bay. Single people can move at a moment’s notice and many have taken advantage of the remote work offer to travel or live in cheaper locales. So without tenants landlords have more reasons to sell now.

Depending on people’s projection on remote work: whether this is the new long term normal or a temporary blip, this is either a great time to buy or SF prices still have more room to fall.

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Only because they are expecting this to last for a long time! may be permanent :clown_face:

Seem you want to take the contrarian’s view for the sake of being contrarian.

Anyone wants to help this poor gal out?

Too young for me, too old for my sons. In short, can’t help.

@manch: what are you doing lurking around on blind anyway? laughing at peon w-2 workers? :slight_smile:

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It’s a lot of fun watching people brag about their TC. I can tell most of them are tech bros.

:rofl:

TC or gtfo. :slight_smile:

I go to Blind for entertainment like this.

:rofl: