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Gary Belk
97 followers -
Real Estate and Construction Professional
Real Estate and Construction Professional

97 followers
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This is a very good article which points out some fundamental truths about our market in SF. One of the most important is that we do not have investors fueling the price increases that we have seen in the last few years. Other US cities are much more attractive for investors. Our real estate, for the most part, is owned by homeowners. If things go south with the economy they will still need places to live. Since most buyers put 20% down or paid cash they have plenty of equity. We will not see wholesale pricing in SF. We never have. Even in 2009, the darkest period of the Great Recession, there were few short sales and fewer foreclosures.

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A bit of advice on declining a contractor's' bid. I think this courtesy should apply to all service providers that submit proposals or bids for you to review.

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A very interesting article on growth.  It is a complex issue.

 "...a San Francisco that makes room for a few hundred thousand more tech workers will no longer be the same shabbily welcoming city “that’s been a magnet for free spirits and immigrants and working-class people for decades.. Then again, “free spirits and immigrants and working-class people” can’t afford to move to San Francisco now anyway -- it’s only the ones who managed to get their hands on a rent-controlled apartment years ago who can afford to stay. Here’s Sonja Trauss, a former math teacher and economics graduate student who recently founded the pro-growth San Francisco Bay Area Renters Federation:

The past is not an option. Going forward we can become either a big city, or else a highly exclusive gated community for the rich. For homeowners this is an academic question, because as owners, nothing can make them move. For renters and all new entrants (your children) this question is over whether we live in the Bay Area or not. There are 2x as many people who want to live here than do live here. The current “character” of SF isn’t very useful to people who can’t live here."

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Sales of homes above $2 million (luxury homes) is sluggish but the spring is the best time to sell a luxury home.
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