Real Estate Update for San Francisco Homebuyers and Sellers
courtesy of:
Eileen Bermingham
DRE# 01352627
Most Recent Sales  citywide in the last 21 days
Address Type BR/BA/Units Parking DOM List Price Sold Price
No sales reported in the past 21 days.
>> View Additional Sales >> View Newest Listings
In This Issue…

Most Recent Sales
San Francisco Market Overview
Foreclosures Slow, Shadow Inventory Declines
Changes Coming to Oak and Fell Streets
Tech Shuttle Lines Revealed
San Francisco Market Overview 
  Single Family Homes Condos/TICs/Lofts 2-4 Units
Median Sales Price, last 180 days
% Change from prior 180 days
Avg. Days on Market, last 180 days
% Change from prior 180 days
Foreclosures Slow, Shadow Inventory Declines 

Remember that dreaded "shadow inventory" that we were hearing so much about? Refresher: It's the distressed homes inventory that is in pre-foreclosure, going through the foreclosure process, or real estate owned (REOs) by banks but not yet released onto the market. Recent reports show a marked decline in shadow inventory. Throughout the United States there are currently 2.3 million homes that could be considered shadow inventory, down from 2.6 million a year ago. Of these 2.3 million, one million are "seriously delinquent," 900,000 are in the foreclosure process and 345,000 are now owned by banks. This dip in shadow inventory is one of the many signs that the real estate market is slowly improving across the US.

A little closer to home, Foreclosure Radar reports "dramatic declines in foreclosure activity" in California. Notice of Defaults (NODs) were down 20.7 percent in September from the prior month and 48.1 percent when compared to this time last year. September California foreclosure sales are down 17.9 percent from the previous month and down 30.4 percent from this time last year. Wow, and can I get a hallelujah!

In San Francisco - where we were not hit nearly as hard with distress sales as the rest of the state - anecdotally we've seen a serious decline in REO and short sales in the last year. There are so few distress sales on the market at this time that it no longer makes sense to limit your property search on only this type of property. That window of opportunity is fairly close to closed… Our market is strong!
Changes Coming to Oak and Fell Streets 
Looks like some changes will indeed be coming down the pike for Oak and Fell streets between Scott and Baker. The SFMTA Board of Directors have given unanimous approval for the Fell and Oak Pedestrian and Bicycle Safety Project. According to the SF Bike Coalition, the intersection of Oak and Divisadero was the second most dangerous intersection in the city for pedestrians and bicyclists in 2011 (the behemoth intersection of Market and Octavia holding onto that number one spot).

The plan will be implemented in stages, starting in the coming months. The enhancements will include separated bike pathways, sidewalk “bulb-outs”, greening measures, and crosswalk improvements. Opponents of the plan aren't happy that 55 parking spots will be removed with implementation of the project, in an area where parking is already overrun, and that some bus stops will be eliminated. But the estimated 1,500 cyclists that navigate these congested streets on a daily basis surely must be looking forward to the changes. And car commuters can look forward to some visual improvements as well.
Tech Shuttle Lines Revealed 
Have you seen the huge private buses in your neighborhood and wondered which tech company had hired them? Curious to know how close your property is to a tech bus line and how this might affect your value? It always seemed a little curious that no map for these bus lines was easily available. But the Wall Street Journal recently published a map, painstakingly cobbled together by a San Francisco design firm, Stamen Design, with a commission from San Jose-based arts non-profit Zero 1. Stamen set out to "write the map" of the tech bus lines and received extremely little to no help from the tech companies whose bus lines they were tracking. Instead, they hired SF locals and bike messengers to track stops, do passenger counts and even follow buses to confirm their routes.

The interactive map follows bus routes and passenger flow for lines serving Google, Apple, Facebook, Yahoo, Electronic Arts and eBay. The design team estimates that the private tech bus lines shuttle one-third the passengers to Silicon Valley each day as Caltrain. Interesting to note that while the bulk of the bus lines do run through the Mission as we all probably knew, there are many passengers riding the tech bus lines from the Marina, and some hitching a ride from the Avenues as well. The map, with its increasing thick route lines proves to show just how tightly linked San Francisco has become to Silicon Valley. And in my opinion, it shows just how desirable it is to live and play in San Francisco, no matter how far away you work.
Eileen Bermingham • 415.823.4656 • ebermingham@zephyrsf.com
Recent listings, sales, and market data are based on information from the San Francisco Association of Realtors MLS for the periods shown.
Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS.