San Francisco: Is Now a Good Time to Sell a House?
The COVID-19 pandemic has turned lives upside down for people all around the world. It's no wonder homeowners are wondering if it is a good time to sell their home. While buying and selling a home is as much about personal timing as it is the market, 2020 may end up being the best time to sell a house in San Francisco.
4 Reasons Why Now May Be The Best Time To Sell A House In San Francisco
1. California real estate has always been a hot market.
Even with a raging pandemic, it is no different today. We are seeing soaring demand among renters and buyers at all levels. Some people finally have time to devote to a home search. Many are out looking for a great deal. And still others have seen the lockdowns as a reason to buy a home with space to spread out a bit.
2. Low-interest rates.
At the time of this post, 30-year mortgage rates are under 4%; 15-year rates are even lower. Low rates always generate interest among homebuyers. It opens the door to homeownership for first-time buyers and gets subsequent buyers and investors thinking about the possibilities. (Ask us to refer you to a great lender!)
3. Beat the dip.
If you have been thinking about selling but haven't put your house on the market yet, now may be the best time to do so. If we do enter a recession, home prices are likely to fall and demand will dry up. That's a bad mix for sellers; take advantage of the time of year, high demand, and the stable prices we are enjoying now to get the best price for your home. Statistics show that there currently is less competition of homes on the market compared to past years.
4. Less inventory, less competition.
People have been skittish about putting their homes on the market this spring. That means there is less inventory for buyers to choose from – and less competition for you. Putting a home on the market right now will generate interest if for no other reason than the fact that it's a fresh listing. Statistics show that new listings for both single-family homes and condos dropped by over 25% compared to previous years.
There Is Demand For Your San Francisco Home
There is still a lot of uncertainty surrounding COVID-19 and it's natural to wonder if now really is the best time to sell a house in San Francisco, but based on data I've seen from around the country, home sales are rebounding as states open back up. There is always a demand for homes in San Franciso, so if the time has come that you feel the need to sell your home, now is a great time to put it on the market.
The same key factors that make a home desirable at any other time still apply now. Buyers are looking for well-maintained homes that are priced competitively to the market and meet their needs. Recent transactions during COVID19 show that single-family home and condo sales show that sellers are getting over 100% of the list price still.
If this sounds like your house, contact me at (415) 854-2224 or crystle@ckwproperties.com for a free market analysis and to discuss listing your home this summer.
LINKS TO OTHER BLOG ARTICLES
QUICK GUIDE TO BUYING A HOUSE IN SAN FRANCISCO
THINGS YOU CAN DO WHILE QUARANTINED AT HOME
HOW TO BUY A HOME DURING COVID-19
GOVERNOR GAVIN NEWSOM’S EXECUTIVE ORDER EFFECTS ON REAL ESTATE
TO BUY OR NOT TO BUY IN SAN FRANCISCO DURING SHELTER-IN-PLACE
WHAT THE CARES ACT MEANS FOR YOU (CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY ACT)
CONSTRUCTION UPDATES FOR SHELTER-IN-PLACE
CONFIRMING WITH THE IRS WHERE TO SEND YOUR STIMULS $$$
About our Founder, Crystle Wong
As the CEO of a San Francisco founded, global tech startup, Crystle understands from experience what it takes to succeed. Her real estate experience spans from successfully managing multiple properties over the last 10 years including residential, commercial, and mixed-use, as well as her time spent actively investing in flipping properties, tax liens, tax deeds, and other property types. As a native born and raised in San Francisco, you can trust that you’re in good hands of a local who can help you navigate the micro neighborhoods of San Francisco. Crystle invests in relationships and you can count on her to walk with you through the process of buying or selling your property.
You might ask yourself, “What does a tech startup have to do with real estate?”
Good question! Everything about Crystle exudes intention. Her ultimate goal is to grow her tech company so that she can utilize its philanthropic arm to fund micro-housing for the homeless in partnership with key, long standing and successful social services organizations in San Francisco. Real Estate gives her the ability to network and learn about developing land to purchase in the future to develop the micro housing. Her time serving on boards for these non profits gives her the knowledge of what these organizations really need to be able to get more people off the streets for good.
The same cornerstones that drive success in her tech company are the same cornerstones that make her the best real estate agent to work with: honesty, transparency, integrity, and a relationship- focused mindset toward life.
Crystle was born and raised in San Francisco’s Inner Richmond district and continues to choose to establish her future life in San Francisco as well. She is a woman of her word. She not only financially supports several not-for-profits, but also regularly serves in her community helping the homeless, youth, and those in poverty.
In her spare time, she is an active and current member of the Board of Directors of Lutheran Social Services of Northern California, the APA Heritage Foundation Committee of San Francisco, and volunteer for Mobilize Love. She has previously and faithfully served on the Board of Directors for Zion Lutheran Church and School of San Francisco, the Board of Directors for Designing a Difference, the Board of Directors for APAPA San Francisco, a member of the Friends of Smuin Ballet, and as a Co-Chair for the Princess Project.