March 12, 2009
Advanced Listing Services was kind enough to provide me with this “State of the Market” report for San Francisco County. It analyzes new listings, the rate at which they are marked “pending,” and the number of properties that return to “active” after being “pending.”
The most intersting piece of information in the report to me, is that the listing price for pending properties is significantly lower than that of for sale or active properties. This suggests that only inventory at the lower end of the price range is really moving despite the fact that foreclosures continue to be a relatively low proportion of our inventory in San Francisco.
To see the report, click here.
July 28, 2008
Many of you ask about foreclosure activity and opportunities in our market. I answer that I rarely see them in San Francisco itself And as reported this week on sfgate.com per DataQuick: of the 18,516 notices of default recorded in the Bay Area in the 2nd Quarter, only 418 were in SF — that’s about 2.2% of the total. Of all the Bay Area counties, SF also had the lowest year to year gain in defaults: 62.6%.
They estimate that approximately 78% of those receiving notices of default will be foreclosed upon with “22% emerging from the foreclosure process by catching up on their payments, refinancing or selling.”
The entire article is here: http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/22/BUE511T63B.DTL&tsp=1
Sfgate now has a search engine for Bay Area foreclosures, updated weekly, which can be searched by county, city or zip code: http://www.sfgate.com/webdb/foreclosures/
If you have questions about a distressed property, or you have a friend who needs to buy or sell, please get in touch and I will be happy to use my experience with short sales and foreclosures to work!