Summer 2010 Market Outlook for San Francisco’s Real Estate Market

Summer Market Outlook

Consumer confidence has always played a major role in the health of the real estate market, and it’s playing a starring role in today’s lackadaisical summer sales numbers. Although it’s not uncommon for the months of August and September to show a decrease in closing volume (for properties that went into contract in July and August), this year we are experiencing an earlier than usual slowdown.

So if consumer confidence is to blame, what’s the story?  The story is that no one seems to feel secure about what’s just around the corner economically. Foreclosures are still taking place, and there haven’t been any clear changes in the course of unemployment statistics. There are positive signs from Wall Street, but nobody trusts that any more.

The cure for our consumer confidence doldrums will need to come in the form of some tangible changes in the general economy.

We did hear one piece of positive news that is worth repeating. Pete Elting of Guarantee Mortage mentioned that the recent numbers in jobless claims are misleading. He pointed out that they included hundreds of thousands of temporary census workers who saw their stint with the government discontinued. He also cited that the private sector had added 83,000 jobs! We think everyone can agree that we would prefer job growth in the private sector, and that seems to be what’s happening.

Our prediction… everyone who waits for consumer confidence to come around before purchasing will be wishing that they had bought property while the prices and the mortgage rates were low. There’s often a price for waiting for everyone to agree that times are good, and it usually comes in the form of higher home prices.

Applications Now Being Accepted for GoSolarSF

As of July 1, the San Francisco Public Utilities Commission is accepting applications for the GoSolarSF program. During the 2010-11 fiscal year, the program is allocating $5 million in funds to home and business owners who install solar power on their properties, with $2 million devoted to low-income residential applicants.

According to the mayor’s office, since its inception in 2008, GoSolarSF has increased the number of solar installations in San Francisco from 795 to 1,934 and created at least 40 new “green collar” jobs with local companies.

Making green improvements to your home not only improves its overall value, it also helps save money in the short term on your electric bill. How much could you save by going solar? For a quick and dirty estimate, check out www.Solar-Estimate.org; all you need to know is your zip code and the cost of your average monthly electric bill.

Any resident or business in San Francisco that is on a meter and pays an electricity bill is eligible for the GoSolarSF incentive. To learn more and apply, visit SolarSF.org.

Living With Nature in the City

In San Francisco, we enjoy an abundance of open space, from the Presidio to Golden Gate Park to Bernal Heights. But with it, we must accept the possibility of encountering those creatures we usually expect to meet out in the country.

We recently learned that the city is actually home to some coyotes. As unexpected as an encounter with one of these wild canines might be, it doesn’t hurt to be prepared.

So, the number one rule with coyotes is: don’t feed the coyotes! Like any wild animal, increased human contact and easy hunting can make these creatures more likely to confront people and pets aggressively. If you have small pets and live near an open space, it’s best to keep your animals supervised. A shaken can of pennies should startle and deter a coyote should one show up in your yard or intercept an evening stroll.

Unlikely urban neighbors like raccoons, skunks and even possums can be a pest. Since these animals are usually born and raised in our city neighborhoods, they are typically more bold when it comes to approaching humans; this can be particularly hazardous if you have curious children. The best way to keep these critters at bay is to cut off their nocturnal buffets: seal garbage containers and bring your pet’s food and water in at night. A motion-sensitive light can help scare off unwanted intruders as well.

With a little common sense, we can ensure that these wily animals enjoy their city life as much as we do.

How the City Can Help You Cut Clutter!

Unwanted handbills on one’s property are a seemingly small nuisance that can quickly get out of hand. Especially when you consider that everyone from the toddler next door to your grandmother can track down pages of business info online, yet another paper takeout menu seems downright wasteful, whether it’s taking up space in your junk drawer or littering your block.

In San Francisco, it is easy to stop the posting and delivery of these items. According to the Department of Public Works: “To stop delivery of unwanted handbills, you must post a sign that reads: “No Handbills”. The notice must be at least eight square inches and be posted in a conspicuous area. If a sign is posted, it is illegal to distribute handbills anywhere on your property, including your porch, yard, steps, hallway, or mailbox.” So, one sheet of paper can effectively block the wave of hundreds more!