Just last week, I got a client into contract on a home that had been on the market less than twenty-four hours. She viewed the property for about ten minutes.
San Francisco, California (PRWEB) April 22, 2014
San Francisco is in the midst of another housing price surge — creating buyer frustration and local market frenzy. Local real estate agent Ruth Krishnan offers success tips to make the process easier for buyers.
“The high-demand/extremely-low-inventory/competitive-bidding situation is similar to what occurred first in spring 2012 and then, to an even higher degree, in spring 2013. After the market seemed to stabilize in the second half of last year, we didn't expect to see it turn this fierce in early 2014, but right now it appears to be every bit as ferocious as last spring’s,” according to the April, 2014 Paragon Real Estate Report.
“44% of homes are selling 10% over the asking price, but 10% are selling 28% over asking! In the last few weeks I have noticed that there are now more preemptive offers being accepted than ever. As I am driving around on tour, I am seeing a record number of homes in contract that have only been on the market a few days. Just last week, I got a client into contract on a home that had been on the market less than twenty-four hours. She viewed the property for about ten minutes and we wrote an offer a few hours later,” said Ruth Krishnan, a top producer at Paragon Real Estate.
Of major metro areas, the new Gallup-Healthways survey ranked SF-Oakland second in the nation (behind San Jose-Santa Clara) on their index for "well-being." Though already the second most densely populated city in the country (after NYC), San Francisco simply has many more people wanting to live here than there are homes available to rent or buy.
What can buyers do?
Krishnan, an agent who a recent client termed a “down-to-earth, friendly pit bull,” has a wealth of strategies and the success record to back them up. She said, “When writing an offer, listen to and follow your Realtor’s advice. A good Realtor should be able to help you craft a winning offer. If you are submitting multiple offers and none are being accepted, something is wrong. There are tricks and strategies and every house is different, but I typically can get someone into contract after one or two tries.”
About Ruth Krishnan: Ruth Krishnan is one of the top agents of San Francisco Real Estate. With a background in design and business, Ruth Krishnan brings an artistic eye and strong negotiation and business skill to the arena of real estate sales. Representing both buyers and sellers, and with a long knowledge and comfort with the unique real estate market of San Francisco, Ruth Krishnan has a long history of satisfied clients and successful deals. For more information about the San Francisco housing market and San Francisco housing prices, visit http://www.ruthkrishnan.com.