San Francisco Real Estate Agent: Rob Moffatt

When reviewing listing or going to open homes in San Francisco’s Parkside district you may have noticed for than the occasional “trust sale.” Researching this I have found that over17% of the current homes for sale or those that have sold in the last two years are trust sales. Trust sales occur when an owner of a home has taken the legal steps to include their home in a trust along with other assets of their estate. One of the main purposes of this is so that in the event of the death of the owner, a method for handling the estate is automatically in place. One of the main features of the Trust is the Trustee. This is the person assigned by the owner to oversee and take responsibility of the estate including the deceased person’s real estate holdings. Making an offer and purchasing a home that is a trust, pretty much can go smoothly, and along a similar timeline as a regular sale. There are some disclosures that the Owner/Trustee is exempt form providing to prospective buyers such as the Real Estate Transfer Disclosure Statement. Items such as RETDS are exempt from disclosure because they are disclosed by the Seller, but the seller of course has passed away so this is impossible. In the event a Trust was legally set forth by the Seller at the time of death, a Probate Sale would occur.  

For more information on this Topic or to discuss another question or concern give me a call:

 

Rob Moffatt

415 744 4038

Pacific Union Real Estate

DRE# 01786315

 

Here we see sales of all single family homes in San Francisco Parkside District over the last six months according to the type of sale it was. This includes current listings as well. The majority of the sales 67% are regular sales. 17% are trust sales; 8% are short sales; 5% are foreclosures; and 3% are probate sales. 

Call me today to discuss you home buying or selling needs!

Robert N. Moffatt
Pacific Union Real Estate
Cell: (415) 722 4038
DRE#01786315
601 Van Ness Ave. #S, San Francisco, CA 94105

 

This chart shows the number of solds two bedroom single Family Homes each quarter since January 2006. Comparing the first quarter 2006 to the first quarter 2009 we see a small decline of five less homes sold thsi year than the same time in 2006. This is not a major difference in the last few years, so what is different if the price folks are paying for Parkside Homes, not the amount of homes folks are buying. My experience has been that there is a large pool of buyers for these homes. As prices decline, new groups of buyers become excited about the possiblity of owning a home in Parkside.  
   This chart has three pronounced dips: They are all in the first quater of 2007,2008, and 2009. This is due to the fact that home take an average of 30 ot 40 days to close, buyer would to have mad ethier offer in December of the preceding year, which is the slowest time of the year in reay estate sales.

As promised here are some real estate market information specific to Parkside San Francisco. I reviewed the MLS for two bedroom single family homes. I chose only two bedroom homes to compare like properties (apples to apples) and get a more acurate picture of what's going on in the market over time. In the last twelve  months, out of 84 sales, 42 sales were two bedroom homes; 31 were three bedroom homes; and 11 were other. This data is taken from 01/06 to 06/09. Ok here's the charts: Keep in mind this is just Parkside and does not include Inner Parkside or Outer Parkside. I will do specific reports on those areas another time. Also if you have sugestion of reports you would like to see here, just let me know.

Above we see the median price for two bedroom homes in Parkside San Francisco has risen from aproximately 775k in the first quarter on 2006 to 800k throughout all quarter of 2007; and has declined to 700k and below from during the last nine months. There is a shorter pattern up down, up down, from one quarter to the next. The sales prices are higher in the first and third quarters in each year (the months of January, February, March; and July, August, September). This suggests the best time to sell is during these months. And the best time to Buy is April, May, June; or October, November, December.

This is the first post to this Blog about San Francisco's Parkside district as it relates to what interests the buyers and sellers of homes here. Apart from this being where I live, I focus on this area becuase it is a particularly active "real estate micro market." Most homes are two ot three bedrooms. There are three sub-districts; Inner Parkside, Parkside, and Outer Parkside. Home Values tend to rise the further away from Ocean Beach one goes. I highly encourage folks who own or are considering buying here to comment and make suggestion as to the content of these posts. Do you want home price trends? Infomation on buying or selling these homes? Information on the types of transaction happening, such as trust sales, Probate sales, or forclosures? These are some of the topics I have in mind. Thank you. See you in the nieghborhood!