It is no secret that San Francisco is the most expensive place in the country in which to live. If we can, those of us here are willing to pay that price to enjoy all the area has to offer.
Rents are sky high. Per Zumper in their January report, the median price of a two-bedroom rental in San Francisco is $4,630.00/month; a one-bedroom is $3,490.00
Although prices of condos in the City aren't low, the cost of buying, with interest rates remaining low to date in 2016, can make the monthly payment less than rent.
One way to avoid multiple offers in this market that favors sellers, is to purchase new. The snapshot below, part of the Mark Company Monthly Report shows that many people are doing just that.
Let's look at The Rockwell, for example. This luxury project in lower Pacific Heights consists of 260 units priced between $713,000 and $3,105,000, for an average cost of $1,300/square foot. The West Tower is due to be completed in August, 2016; the East Tower not until September. As of June, only 22 units are still available. The Rockwell is not unique in the number of pre-sales.
Interested in finding out if purchasing now makes sense for you? Give me a call, or shoot me a text or email and we'll talk.