Coronavirus Impact on the Bay Area Real Estate Market

June 19, 2020 by Tom Redmond Leave a Comment

The coronavirus pandemic has decimated many industries including the housing market. The Bay Area real estate market has also been impacted.

Thankfully, the pandemic restrictions are easing so life can start returning to normal. Of course, this will include the buying and selling of homes.

No one can say for sure what will happen during the rest of 2020, especially if there is another outbreak, but this guide will give some possible scenarios for the effect on Bay Area real estate.

Will House Prices Change?

You may be hoping that the Bay Area real estate prices will drop. If you are seeking to buy your first home, then a price crash would no doubt be a benefit.

Currently, trends are not showing any decline in the house prices. This is despite the number of homes sold massively dropping during the pandemic.

House prices are remaining steady thanks to lower cost homes selling at a comparable frequency as before. There is a combination of reasons driving this such as people having to buy due to a change in circumstances coupled with reasonable mortgage rates.

There is a possibility prices could drop should there be a further economic shock, for example, another lockdown due to a further outbreak of coronavirus.

As things stand though house prices are expected to remain consistent with what they were before the pandemic.

Is It A Good Time To Sell Bay Area Real Estate?

People still need to sell or buy properties for a multitude of reasons. So, selling your property is still possible.

The pandemic forced the closure of many industries; the housing market was no exception. It was no surprise that sales dramatically dropped during the crisis, but there are signs that it is still a good time to sell as house prices in Bay Area real estate have not dropped significantly. This is good news if you have a property to sell.

Selling your home may be done differently depending on the rules of your area. Virtual showings may be offered instead of having people coming to the property. You may also have to declare if anyone in the home has had a confirmed case of coronavirus, although this isn’t mandatory.

San Francisco real estate is highly sought after and still selling at pre-pandemic prices. If you have a property to sell, then it is worth taking it to market.

Good News For Those Looking to Rent Their Property?

Even with the pandemic, housing prices will likely not retreat and could possibly return to normal by 2021.

Median sale prices for a single family home still range at over $880,000. And agents are reporting multiple offers despite the slowdown in the economy.

This price point will continue to dissuade new home buyers from entering the ownership market, but could bode well for those looking to rent their property.

This current market won’t last forever. So if you are looking to rent your property, now could be a great time to put your home or apartment on the market.

Final Thoughts

Even in the current pandemic situation, Bay area real estate is hot. Take the risk out of buying or selling a property by inviting a professional from Redmond Real Estate to help. We can help prevent you from paying too much or listing your property for less than its worth.

Using an experienced, qualified real estate professional from Redmond Realty can help you navigate the housing market and secure the best deal for yourself and your family.

San Francisco Real Estate Companies – Who is the Best?

June 19, 2020 by Tom Redmond Leave a Comment

If you need to sell, buy, or rent your property, then you will need to pick a real estate agent from a multitude of San Francisco real estate companies.

This can seem overwhelming, as there are so many types of real estate agents and companies to choose from.

This guide will help you understand how the best San Francisco real estate companies work and tips on how to choose the best one for your family.

What Does A Real Estate Agent Do?

You may think that you can sell or buy a property without help from a professional. This may be true if you have some prior experience, but if you don’t, then this is not recommended.

Using a qualified, experienced real estate agent is recommended as they have the knowledge and skills to help you get the best deal whether you are buying, renting, or selling.

A good real estate agent can help with the following:

If you are buying a property, a good agent with great knowledge of your preferred area can show you the best properties that match your criteria. Next, they can help with negotiating the best deal, all paperwork, and any other legal requirements. Doing it yourself could mean you overpay or make a mistake with the documentation. Using a good agent negates this risk.

When you want to sell a property there are many things you can do either to increase the value or for a quicker sale. Using an agent is advisable as they know how to sell a property quickly plus they can provide tips on marketing and how to present the property. Your agent can also deal with negotiations, showing prospective buyers around, and all other paperwork.
Real estate agents can be a great resource for renters with their extensive local knowledge. They can find the most suitable properties for you while also negotiating the best deals and helping with paperwork.

Tips When Choosing A Top San Francisco Real Estate Agent

Keep these thoughts in mind when choosing from San Francisco real estate companies:

If you feel the agent or agency doesn’t have your best interests at heart, then say no and look elsewhere.
Don’t rely on word of mouth; check the agent’s record including certification and licenses.
Don’t be afraid to ask the agent questions. A good, experienced agent will have no problem with answering any question you ask, no matter how tough. Remember, they work for you.
There are some agents that offer unusually low commissions. Watch out for this as it could be a sign, they are not trustworthy. If you are concerned, then check their credentials, ask around, and don’t be afraid to say no if you aren’t satisfied.

Why Redmond Realty is Among the Top San Francisco Real Estate Companies

With more than 30 years of experience, the Redmond Realty team has built a wealth of knowledge of the San Francisco market. Redmond Realty has helped hundreds of sellers and buyers in the San Francisco and Bay Areas.

The complex process of buying and selling a property is made easy when using Redmond Realty. Our highly qualified team can help you deal with all aspects of your purchase or sale from start to finish.

Final Thoughts

Buying or selling a property can be a daunting prospect, especially if you are a first-time buyer. That is why Redmond Realty is considered one of the top San Francisco real estate companies and an excellent choice due to our long record of helping people every step of the way.

Why is it important to work with a real estate agent?

July 1, 2016 by admin Leave a Comment

photo from unsplash by Ben Rossett

At some point in time, you may have thought of selling or buying property. To save on costs or avoid answering questions real estate people ask, you may even have considered closing a property transaction without representation by a licensed agent. Without an agent, sellers open themselves up to financial mistakes that could leave money on the table due to inattention to a rapidly changing market that leads to a low selling price or extended terms. Trying for an “as-is” sale with the hope that a dream buyer will appear is risky. Buyers can end up paying too much or missing critical disclosure that details the outcome of which are lost in time and money. Experience shows that working with a real estate professional avoids these mistakes and gets results.

Buying and selling property is a process that benefits from strategic planning, market savvy research, objective advice and delivering value on time. The old adage “time is money” directly applies to successful real estate transactions. A timely close of escrow allows you to get your money quickly when selling or take the title when buying. Working with a company like Redmond Realty in San Francisco, which has 30 years experience buying, selling and renovating bay area properties, can give you peace of mind, lower your stress, and ensure that someone with experience will negotiate the best price and terms.

What do Real Estate Agents actually do?

Licensed real estate agents do what you don’t have the time or don’t want to do with your best interest in mind.

They have passed their state licensing requirements
They work with an experienced real estate broker who oversees their transactions
They consult with their clients to understand their needs
They participate in the local real estate market and news
They research property values and have active, pending, and sold listing information at their disposal
They guide you in handling the paperwork involved in contracts and statutory disclosure
They provide planning and coordinating appointments, open houses, showings, and meeting with potential buyers and sellers
Lastly, understanding their client’s needs and are paid when they deliver timely results.

When is it The Right Time to Get a Real Estate Agent?

I would say the beginning. But for most people, they wait till they are in a considerable pain of not making real progress and not getting results. An active agent will help you align your expectations with the changing market. Selling, buying or leasing real property is a process. While you are in the process, the market can change due to direct or indirect influences. Consulting with a real estate agent you trust will keep you current and help clarify your needs so key decisions become easy. The problem of doing it yourself is that you might miss an opportunity, make an honest mistake or create a contractual obligation that could have been avoided, which can cost you time and money.

Buyers are at risk of

buying the wrong property for the wrong reasons
not understanding the competitive nature of our market and missing out
not asking the right questions when it’s decision time
buying a sellers problem
leaving money on the table when they rush into a contract or remove a contingency

Sellers are at risk of

“missing the market” when the property is positioned wrong or there is a market change
negotiating from weakness and inexperience when a buyer gets an advantage
noncompliance with statutory county requirements
making unintentionally incomplete or misleading disclosures
leaving the door open for unwanted litigation

These risks stated would be fixed or prevented by a real estate agent.

Where do you Find a Real Estate Agent?

Real estate agents are in every state making them experts in county and state compliance. It is best to get a real estate agent who has recent experience in neighborhood or area your targeting. Ask for local referrals and interview agents at open houses to test their knowledge and character. In San Francisco Redmond Realty SF has over 30 years of experience in San Francisco on every type of local real estate. Experience gives you something that just a license can’t.

The Re-Introduction of Redmond Realty SF

March 1, 2016 by admin Leave a Comment

San Francisco where lovers, adventurers, sentimentalist, or even Full House fan’s go. It is a place of nightlife, diversity, and even tradition.

But what you don’t know is that in all its glory, Redmond Realty SF has always been there. They are a full-service boutique real estate group with over 30 years of experience in hundreds of successful local transactions.

Some of you might know where it is located but those of you who don’t.

Open 9am – 6pm Monday – Friday

(415) 494-5340

Redmond Realty SF is for Sellers

They go get your money. They consult, handle disclosure and transactional details, work with tenants and get timely results.

Redmond Realty SF is for Buyers

They help clients connect with their values. They assist in confirming market value and terms so buying decisions become easy.

Redmond Realty SF is for Restaurants and Bars

They have over 40 years combined experience in all aspects of bar and restaurant selling and purchasing. Most importantly they help you convey clear title through Universal Commercial Code Compliance (UCC-1) with bulk transfers and escrow including all types of California Alcohol Beverage Control (ABC) licensing.

We have even more experience with buying or selling real estate through a trust administration probate and managing a 1031 exchange investment property.

Redmond Realty helps you navigate the San Francisco market and gives you an unmatched advantage to help you achieve your goals.