It’s chilly outside this weekend but the forecast is for warmer weather this week, which of course mirrors real estate. We had to work it in there somehow, right? This week there’s good reason because we’ve finally seen 100 new listings hit the city on a given weekend this year. Vanguard’s photo department has 20 photoshoot appointment requests for next week alone. But before you think the world is your oyster bear in mind that the details are always devilish.
While there may be 40 ‘new’ single-family house listings this week there isn’t that much choice among them, delving deeper, there are only:
- 4 new house listings in the Richmond,
- 4 in the Sunset/Parkside,
- 4 in District 3 near SF State, 4 in the Pacific Heights/Cow Hollow/Marina area,
- 4 in Noe/Cole/Eureka Valleys and
- 4 in the Bernal Heights/Potrero/Inner Mission areas.
There were, most notably, 9 new houses in District 10 — the Mission Terrace, Bayview, Excelsior. And as those things are going up so are mortgage rates. Whereas we were talking about rates in the mid- to high-3% range we’re now in the 4 to 4.5% range. Adjustable rate mortgages (ARMs) are still looking appealing and may make more sense to most people if you’re buying you not-forever house right now.
