North Beach San Francisco

Right now cash is king. Homes are consistently going for over list price with multiple offer scenarios being commonplace.

San Francisco, CA (PRWEB) January 31, 2013

The San Francisco market is seeing a great seller’s market. Multiple offer situations, cash in hand, and homes going to market earlier to meet buyer demand.

Business Insider reports, “Going into 2013, home prices are expected to rise 6 percent driven by steady demand, lower bank-owned (REO) sales, and lower inventory of unsold homes. This is according to CoreLogic’s latest report. The CoreLogic Home Price Index (HPI) increased 6.3 percent in 2012, the largest increase and highest level since 2006. And year-over-year home price increases were more widespread. This increase in home prices across a broader geographic spread is expected to continue in 2013.”

“Right now cash is king. Homes are consistently going for over list price with multiple offer scenarios being commonplace. Cash buyers who don’t have to deal with the financing world are winning.” Says Dahle. “A 6% increase for the year is a very promising number and we’re looking forward to a great 2013.”

Only the most informed real estate professionals can guide you through the ups and downs of the San Francisco Bay Area real estate market, and Kirk Dahle has been doing just that for buyers and sellers for several years. A relentless advocate for his clients, Kirk is constantly networking with real estate professionals to find the best listings and to bring a property to market. Contact Kirk directly at sfkirk(at)gmail(dot)com or call 415.203.8638.

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Article source: http://www.prweb.com/releases/2013/1/prweb10386770.htm

San Francisco, CA (PRWEB) January 31, 2013

The San Francisco market is seeing a great seller’s market. Multiple offer situations, cash in hand, and homes going to market earlier to meet buyer demand.

Business Insider reports, “Going into 2013, home prices are expected to rise 6 percent driven by steady demand, lower bank-owned (REO) sales, and lower inventory of unsold homes. This is according to CoreLogic’s latest report. The CoreLogic Home Price Index (HPI) increased 6.3 percent in 2012, the largest increase and highest level since 2006. And year-over-year home price increases were more widespread. This increase in home prices across a broader geographic spread is expected to continue in 2013.”

“Right now cash is king. Homes are consistently going for over list price with multiple offer scenarios being commonplace. Cash buyers who don’t have to deal with the financing world are winning.” Says Dahle. “A 6% increase for the year is a very promising number and we’re looking forward to a great 2013.”

Only the most informed real estate professionals can guide you through the ups and downs of the San Francisco Bay Area real estate market, and Kirk Dahle has been doing just that for buyers and sellers for several years. A relentless advocate for his clients, Kirk is constantly networking with real estate professionals to find the best listings and to bring a property to market. Contact Kirk directly at sfkirk(at)gmail(dot)com or call 415.203.8638.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2013/1/prweb10386770.htm

Article source: http://www.sfgate.com/business/prweb/article/San-Francisco-Real-Estate-Market-Shows-Home-Price-4241718.php

Home prices in May were down 7.4 percent year-over-year, according to a new report from CoreLogic. This is the first of the May numbers, as SP Case Shiller, which was released earlier this week, looks back two months.

CoreLogic’s [ CLGX 16.71  +0.13 (+0.78%) ] report is unique, though, in that it gives the big bad number (which was a bigger dip than the 6.7-percent annual drop in April) and then it strips out the distressed sales and comes up with a new number. Distressed sales include foreclosed properties (bank-owned/REO) and short sales, where the home is sold for less than the value of the mortgage to avoid foreclosure.

Without the distressed sales, home prices fell just 0.4 percent in May, essentially flat. Overall, according to the report, “including distressed transactions, the peak-to-current change in the national HPI (Home Price Index, from April 2006 to May 2011) was -32.7 percent. Excluding distressed transactions, the peak-to-current change in the HPI for the same period was -21.2 percent.”

So should we consider that home prices are really just fine? After all, they might not be moving up, but they’re not falling, and they’re down far less than the headlines scream.

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