Tim J Gullicksen of Zephyr Realty Responds to Marketing Firm's Research
San Francisco, CA (PRWEB) December 08, 2015 -- Since September, a good amount of anecdotal evidence has come up to show that the San Francisco housing market seems to be cooling down. There seem to be more properties not getting any offers on the offer dates. According to Tim Gullicksen of Zephyr Realty, while prices do not appear to be plummeting downward, it looks like the skyrocketing prices have stopped for the time being. Once there’s a date from Q4 of 2015, it will be more certain with what's happening market-wide in San Francisco, but for now, there are some intriguing bits of data available.
The Mark Company, a new condo marketing firm, says sales of new condos slipped by 20 percent between August and September, and prices fell by 3 percent. Polaris Pacific, also a condo marketing firm, calculated the median condo price declined by 4.5 percent, but described the trend as a “touch of moderation.”
Redfin CEO Glenn Kelman, said he was seeing homes get fewer offers this fall, and he proposed a possible explanation: the volatile stock market. If buyers are relying on stocks to pay for their homes, then the fluctuating stock market might limit the amount of capital they have available for their purchases.
Gullicksen said he predicts this cooling off period will lead to a price plateau. Unless there is an outside force, such as a major economic disruption or natural disaster, he believes the real estate market will flatten out for some time. Price exhaustion, combined with new units going online, in 2016 will contribute to this flattening. If the Fed does increase its lending rate, it will further contribute to the process.
A flat market can be great for both buyers and sellers. Perhaps listing agents will start accepting offers as they come again, and buyers will be able to include contingencies in their offers again. A rational market with good sales price information and no more blind-auction bidding? No one will argue with that.
About the company:
Tim Gullicksen has been a top-producing real estate agent since he first entered into the business and takes great pride in managing every aspect of each transaction. After graduating from high school in the South Bay, Tim earned a bachelor’s degree in political science and history from the University of California-Berkeley. He went on to earn his teaching credentials from JFK University in Orinda and taught kindergarten in the San Jose Unified School District. He brings an educational approach to real estate developed from that background and sees himself as a facilitator of property transactions. For more information, visit his website at http://www.timgullicksensf.com/.
Tim Gullicksen, Tim J Gullicksen Zephyr Realty, http://www.timgullicksensf.com, 415-655-1588, [email protected]
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