San Francisco, CA (PRWEB) November 17, 2005
Real Estate buyers in San Francisco find themselves with more negotiating power than they have had since the mid 1990’s. For the first time in years, buyers are acquiring San Francisco homes at prices below asking.
Supply and demand are the fundamental barometers that economists watch to forecast whether prices rise or fall -- and the balance is swinging to the advantage of buyers for the first time since 2001.
In San Francisco, inventories are rising, some prices are dropping, and some properties are going unsold.
“With inventories growing, buyers are beginning to understand that they can take their time and be more selective. They have more listings to look at typically,” stated Steve Peletz, managing broker at Peletz & Company Real Estate, a veteran real estate broker and investor who sells many single family homes, condominiums and apartment buildings in San Francisco.
“With Sunday Dash, I can pinpoint the San Francisco neighborhood I am interested in and get a quick snapshot of the asking prices and properties on the market. It gives me photos, a good idea of the inventory, the price ranges and the qualities of properties in an area that I select on the map. It has become invaluable to me and my understanding of the market conditions,” notes Scott Cameron, President of Summerwood Homes in Lafayette, who builds and develops speculative homes and renovates existing homes in the Bay Area.
“In this market, it is essential that buyers, sellers, and real estate agents understand the market trends in order to be successful,” Peletz noted.
“Buyers also have more tools available to search and compare properties online than they used to. Approximately 74% of buyers begin their searches online according to a recent study by the NATIONAL ASSOCIATION OF REALTORS®,” notes Peletz who has over 22 years of experience in the real estate and construction industries.
“We encourage our clients to use Sunday Dash (http://www.SundayDash.com) which recently launched its online Real Estate Map service to help homebuyers locate homes for sale, compare prices and amenities using a simple online map. Sunday Dash helps clients quickly find properties in their price range and in the neighborhood that they are looking for,” Peletz added.
“Sunday Dash gives them the information they need to compare active listings quickly and easily. It helps them gain market information and negotiating power,” according to Peletz.
“Real Estate is all about location -- and we wanted to offer buyers a super simple way to find the property they want in the area they want at a price point they could afford. The listings are pinpointed on the map and color coded by price. With the click of a mouse, the buyer can find photos and property details on the property,” said Michael LaPeter, co-founder of Sunday Dash.
Until recently, many would be San Francisco homebuyers have been outbid on their dream homes multiple times over the last few years missing out on homes as double digit appreciation and over-bidding have left them out in the cold.
But there is growing evidence that the San Francisco market is changing and frustrated buyers in San Francisco’s long over-heated real estate market are beginning to gain the upper hand.
Sellers are finding themselves needing to compete for buyer attention as inventories of unsold properties grow. Furthermore, many sellers are increasingly doing something that they have not had to do in years - negotiate on price.
Recent buyers have found Sunday Dash to be a major cause for celebration – the new map-based search tool (http://www.SundayDash.com) allows buyers to quickly and easily search and compare properties using an online mapping system.
“Sunday Dash pinpoints active real estate listings using interactive mapping technology, color codes the listings by price range, and offers photos and detailed property details with the click of a mouse,” according to Michael LaPeter, also a REALTOR®, who co-founded Sunday Dash to provide buyers with better information more quickly and easily.
With more inventory available to choose from, and with the inventory remaining on the market for 30-45 days in some cases, buyers can use the information to find properties and negotiate better prices.
“Until now, most search technologies for Real Estate have not been intuitive or easy to use. Customers and real estate agents alike have bemoaned the lack of an intuitive, map-based tool that allows buyers to compare property prices, quality, location and appearance – using a quick easy-to-use mapping service. Sunday Dash was developed to offer our clients a whole new way to find and compare local property. Now we are offering the service to the greater buyer and REALTOR® community” added Steve Peletz, Managing Broker at Peletz & Company Real Estate (http://www.peletzco.com) who worked with Michael LaPeter to develop the online service.
For the first time in years, buyers are seeing increased inventory, price reductions, and motivated sellers. Using Sunday Dash (http://www.SundayDash.com), San Franciscans are beginning to use map-based search technology to search properties, compare prices, and compare amenities by neighborhood. According to Michael LaPeter and Steve Peletz, Sunday Dash expects to help San Francisco buyers, sellers, and real estate agents and then plans to roll out geographically across the country.
Steve Peletz is a REALTOR® serving San Francisco’s residential and investment real estate market. Mr. Peletz has over 22 years of real estate, construction, and investment experience in addition to training in Real Estate, Finance, Technology and Marketing through an MBA from Berkeley’s Haas School of Business.
Peletz & Company Real Estate (http://www.peletzco.com) is a Real Estate Brokerage on San Francisco’s North Waterfront. Peletz & Company specializes in residential and investment properties in San Francisco.
Sunday Dash (http://www.SundayDash.com) is a new online real estate mapping service dedicated to better organizing real estate information online to help buyers gather better information.
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