San Francisco, CA (PRWEB) February 24, 2012
Zephyr Realty real estate agent, Tim Gullicksen, discusses reasons why bidding wars are happening in the San Francisco real estate market and how to handle it when buying a house.
Although it's impossible to say for sure why the bidding wars are back, Gullicksen, who is in the top 1 percent of all San Francisco real estate agents, has noticed strong pressure on the residential rental market for the past several months. The result of which has been an increase in rental prices and a reduction in supply. Also, the Facebook IPO has been the topic of much speculation. How will all that stock option money affect real estate prices? Finally, interest rates are fantastically low and banks are now offering non-FHA loans with as little as 10-percent down. This allows more potential purchasers into the market with bigger budgets than they had last year.
After the last couple years of a flat, even-keeled market in San Francisco, the market may be heating up again. If this is true, buyers will have to adjust their strategies and Sellers might consider putting their properties on the market now.
In the past few weeks, Gullicksen has written five offers in different neighborhoods at a variety of price points. In each and every case, he and his buyer were outbid by buyers who paid over what recent comparable sales justify. Are too many buyers and not enough inventory causing a blip in the market? If so, spring inventory may calm down the market. If not, buyers may want to consider buying sooner rather than later.
Gullicksen advises home buyers and first-time home buyers to visit any properties that pique their interest as soon as they come on the market. Good properties that are well priced are being snapped up quickly.
For more information about Tim Gullicksen of Zephyr Realty, call 415-655-1588, view him on the web at http://www.timgullicksen.com or visit 2523 California St. in San Francisco.
About Tim Gullicksen of Zephyr Realty
Tim Gullicksen of Zephyr Realty is a San Francisco real estate agent who specializes in a broad spectrum of San Francisco real estate property types, from affordable units sold through the Mayor’s Office of Housing to multi-million dollar buildings and single-family homes. Gullicksen works with experienced and first-time home buyers in San Francisco to find them the right home.
For more than 30 years, Zephyr Realty has been one of the most respected real estate firms in San Francisco. Its reputation as a highly professional and effective group of agents is recognized by both clients and the entire real estate community. As the most successful independent real estate firm serving San Francisco with over one billion dollars in gross sales annually, its real estate agents understand the San Francisco market like no one else.