Escrow Out Loud: San Francisco Real Estate

Prices are up, volume is down, buyers are exhausted and sellers are...? A smaller pie can cause some awful table manners, and all of this is causing some agents to behave very badly indeed. Welcome to this week’s episode of Escrow Out Loud, our San Francisco Real Estate podcast.[00:20] House prices continue their rise in 2018. The median sale price has doubled since 2013 and now sits at 1.61 million dollars. Doing the math, this means that in order to afford a mid-priced home in SF one needs to have a down-payment of 300k and an annual income of about $300,000. However. Let’s not forget that in the current market a 20% down payment regularly gets beat by much larger down payments or all cash offers. This is a difficult market for buyers. So difficult in fact, that we know at least one agent who currently only works with sellers.[03:08] So, what is some advice we can share? Most importantly, be realistic, and do not engage in magical thinking! That reminds us of one of our previous episodes: Opportunity o