In the Know with Kevin Ho: Warm November Days, Nov. 10, 2013 Ed., No. 45
8000 Realtors in Town, No Houses to Show Them
Last Week’s uptick of inventory was a blip.
Eight thousand realtors from all over the world are in town this weekend for the National Association of Realtors annual shindig, but new inventory isn’t there to greet them — there were only about 60 new listings on this upcoming weekend. So those out-of-town agents will have to focus on Hillary Clinton’s speech today. At the conference there’ll be a lot of discussion about selling properties using the MLS-system and off-MLS. It’s a tricky area ethically and logistically as it becomes part of the strategy of how we sell property today and as we ask what’s best for our clients.
Visa is moving its major operations to SF to attract good talent to SF. Instead of being in Foster City, Visa is moving to Market Street. These people will want to live in SF rather than commute. The moves makes sense if you think about it. because Visa has recognized that all of those employees — who are worth getting — want to live in SF instead down on the Peninsula and peThe company is leasing 111,000 sqft with plans and hopes to expand.
Now more than anytime you’re able to see that San Francisco is comprised of many micro markets, which explains the skews we’re seeing across the city with some properties selling like hot cakes and others maturing like a fine wine.
Have some properties have been out there too long? No, it means a lot of people missed the boat on a property. These are BIG purchases that take time. And this is okay, it doesn’t mean something is wrong with place. Has the fall seen a dip in prices? While we’ve seen the number of sales slow, we’ve seen new highs develop this fall that weren’t here in the spring.