San Francisco SurReal Estate - Part I

Posted: October 31, 2006 at 1:15 pm by Somesh

For those who think a 350+ for a 3bd/2ba/pool SFH in Las Vegas or Phoenix is high, check out some of these MLS Listings in San Francisco.

This building is Bridge View , 400 Beale. These are condos NOT SFHs.

#806 - 735K - 2 bd/1 ba/ 1 P

#803 - 849K - 2bd/2ba / 1 P

#2307 - 1,125K - 2bd / 2ba / 1 P

#2501 - 1,220K - 2 bd / 2 ba / 1 P

This is High Rise Luxury Condo Living in San Francisco !!!

5 bubble-proof markets !!

Posted: October 31, 2006 at 10:07 am by Somesh

From CNN,

New Rules of Real Estate : 5 bubble-proof markets

The 5 cities listed in order are.

1. San Francisco 2. Los Angles 3.Seattle 4. Boston 5. New York City

Those who have been reading this web site know that these are just the top five bubbles.

Click on them to see the OFHEO appreciation, and decide for yourselves.

California Price Peak?

Posted: October 30, 2006 at 9:52 am by Somesh

Data from California Assoc of Realtors shows that CA SFH Median fell a good 23K (4%) , from an all time high of 576K in Aug to 553K in Sep. Of course the headline was 1.8% rise from Sep 05.

Given the anecdotal evidence and the overall general direction of the market . California could have just started its slide from the Aug peak.

Despite Dataquick reporting declines in Nor Cal & So Cal for a few months now, and Sacramento in dire straits, CAR’s statewide median rose to a new all time high in Aug.

Florida Going Down Hard And Fast

Posted: October 29, 2006 at 10:31 am by Somesh

Monthly Median Data from Florida is showing the extent of correction that has already occurred.

Based on September data,
Sarasota is down 18% from Jan peak.
Fort Myers down 18.8% from Dec peak.
Naples down 12.6% from Jan peak.

Southwest coast is falling harder, as it went higher than the South East coast.

The year-over-year correction will very soon look like the double digit year-over-year appreciation of the last few years.

West Palm Beach down 13.2% from Nov peak.
Fort Lauderdale down 5% from Nov.
Melbourne 17% from Aug 05.
Fort Pierce 9% from Sep 05.

Jacksonville too is down 8.6% from its Jun 05 peak.
For Walton Beach down 8.6% from April 05 peak.

Q3 GDP Growth Plummets to 1.6%

Posted: October 27, 2006 at 12:46 pm by Somesh

Weak home building drags down growth

The continued slowdown in new home construction will further pull down growth to near zero in the fourth quarter.

With a 75% chance of GDP contraction in 2007-Q1 and 100% in 2007-Q2.

Welcome !

Posted: October 27, 2006 at 9:12 am by Somesh

This blog is the latest edition to the website.

It will be a platform for the readers to make comments, ask questions and communicate with each other.

Welcome to the blog and thanks to all the readers for supporting the web site.

I think the blog too will evolve with time, just as the website has.