The Real Estate Report March/April, local market trends San Francisco: "Median Price for Homes at Record High" by AMSI's Real Estate Broker Robb Fleischer

1. local market trends
The Real Estate Report
SAN FRANCISCO
Median Price for Homes at Record High
The median price for single-family, re-sale homes
in San Francisco set a new record high in
February: $1,062,600. The previous high was
reached in May of last year: $1,060,000.
FEBRUARY MARKET STATISTICS
Prices of both homes and condos/lofts made
continued to be up, year-over-year, in January. The
median price for homes was up 27.9% from last
February.
Single-family, re-sales home sales rose 23% year-
over-year.
The sales price to list price ratio for homes has
been over 100% for twenty-three of the past
twenty-four months. It was 107.6% last month.
SALES MOMENTUM…
for homes jumped 3.2 points to +4.7. Sales
momentum for condos/lofts rose one point to +1.6.
PRICING MOMENTUM…
for single-family homes was up 0.4 of a point to
19.5. Pricing momentum for condos/lofts was up
0.5 of a point to +13.9.
CONDO/LOFT STATISTICS
After setting an all-time record in January at
$950,000, the median price of condos/lofts
backed off a bit in January to $930,000, a gain of
11.6% year-over-year.
Condo/loft sales rose 16.7% compared to last
Februay.
The sale price to list price ratio stayed over
100% for the twenty-fourth month in a row:
105.9%.
This is an extraordinarily tough market for buyers.
It's important to be calm and realistic. If you don't
know what to do or where to begin, give me a call
and let's discuss your situation and your options.
American Marketing Systems, Inc.
2800 Van Ness Avenue
San Francisco, CA 94109
(415) 447-2009
rfleischer@amsiemail.com
http://www.amsires.com/staff/robb
DRE #01403882
Robb Fleischer
Robb Fleischer | rfleischer@amsiemail.com | (415) 447-2009
MARCH/APRIL 2014
Inside This Issue
> LOCAL MARKET TRENDS.....................1
> MORTGAGE RATE OUTLOOK ...............2
> HOME STATISTICS ..............................2
> FORECLOSURE STATS ........................3
> CONDO STATISTICS ............................3
> MOMENTUM CHARTS ..........................4
Feb 14 Jan 14 Feb 13
Home Sales: 150 125 122
Median Price: 1,062,500$ 928,000$ 800,500$
Average Price: 1,462,634$ 1,256,020$ 1,143,784$
Sale/List Price Ratio: 107.6% 104.7% 104.4%
Days on Market: 37 40 42
Feb 14 Jan 14 Feb 13
Condo Sales: 210 169 180
Median Price: 930,500$ 950,000$ 756,000$
Average Price: 982,552$ 1,109,376$ 882,558$
Sale/List Price Ratio: 105.9% 101.0% 103.1%
Days on Market: 38 51 48
(Lofts/Tow nhomes/TIC)
Trends at a Glance
(Single-family Homes)
Homes: detached
YTD Peak % Trough % Peak Trough
3-month 53% 4% 57% Jun-07 Feb-12
12-month 40% 7% 40% Apr-08 Mar-12
Homes: attached
3-month 43% 12% 46% Jul-08 Jan-12
12-month 35% 13% 35% Aug-08 Jan-12
San Francisco Price Differences
from January 2012 & Peak & Trough
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San Francisco Homes: Year-Over-Year Median Sales Price Change
© 2014 rereport.com

2. Page 2
The Real Estate Report
The chart above shows the
National monthly average for
30-year fixed rate mortgages
as compiled by HSH.com. The
average includes mortgages of
all sizes, including conforming,
"expanded conforming," and
jumbo.
MORTGAGE RATE OUTLOOK
Mar 7, 2014 -- Mortgage rates stepped back a little this
week, but all indications are that an uptick is
imminent, as the underlying interest rates which help
to govern fixed-rate mortgages have firmed up
measurably in recent days.
While the Ukraine troubles continue to concern
investors the situation does appear to have at least
stopped worsening for the moment. We might say as
much about the economy; although the freshest data
covering it is still revealing a mixed bag of results, at
least some key indicators managed to improve a little
bit. There is also some hope that rough winter
weather is to blame for any subpar numbers, and if
that's the case, an uptick in growth and mortgage
rates is likely in the offing.
HSH.com's broad-market mortgage tracker -- our
weekly Fixed-Rate Mortgage Indicator (FRMI) --
found the overall average rate for 30-year fixed-rate
mortgages slipped by three basis points (0.03%) to
land at 4.39%, 2014's lowest average rate to date.
The FRMI's 15-year companion also eased by three
basis points (0.02%) to dip to 3.51%. Popular FHA-
backed 30-year FRMs joined the fray, sliding by three
basis points of its own to land at 4.01% for the
period, and the overall 5/1 Hybrid ARM also
managed a fall of three hundredths of a percentage
point, too dipping to an average rate of 3.03%,
remaining at its lowest rate since late November.
While the rough economic period of the last couple of
months may or may not fade quickly, the most recent
evidence is sufficient to suggest that it is fading. If
this turns out to be the case, it's reasonable to expect
that interest rates will nudge away from their recent
lows and that the Federal Reserve will continue to
trim QE apace. Any homeowners hemming and
hawing about waiting for lower rates to pull the trigger
on a HARP refinance should consider getting
underway before too much more time passes. As
they will remain favorable despite any small rise,
interest rates are of somewhat less consequence to
potential homebuyers, an audience who is arguably
more concerned with both home prices and a lack of
desirable properties than a few basis point change in
rates.
More new economic clues will come next week and
mortgage rates will be firming a little. We'll see if
retail sales have picked up, get a look at producer
prices and early March readings for consumer
sentiment, among other things. If the change in
underlying interest rates is any guide, we'll take back
this week's dip plus a few basis points, a move
probably totaling 8 to 10 basis points in all.
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San Francisco Homes: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2014 rereport.com
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco 1,062,500$ 1,462,634$ 150 37 107.6% 32.7% 27.9% 23.0% 14.5% 16.4% 20.0%
D1: Northwest 1,234,500$ 1,415,317$ 12 19 119.5% 19.7% -28.1% 20.0% -1.2% -21.2% 9.1%
D2: Central West 892,000$ 882,323$ 17 36 112.9% 11.5% -2.5% 0.0% -1.8% -3.0% -19.0%
D3: Southwest 700,250$ 821,557$ 14 46 104.5% 24.8% 35.6% 133.3% 1.8% 11.9% 40.0%
D4: Twin Peaks 1,098,000$ 1,224,292$ 19 26 110.1% 15.6% 7.6% -9.5% 14.4% 14.6% 11.8%
D5: Central 2,300,000$ 2,151,920$ 25 24 107.9% 49.6% 17.4% 38.9% 39.0% 16.1% 38.9%
D6: Central North 1,729,000$ 1,912,286$ 7 61 102.8% -35.4% -28.5% 250.0% -9.5% -9.3% 133.3%
D7: North 4,987,500$ 5,705,000$ 6 24 98.5% 26.3% 35.8% 100.0% 50.2% 47.0% 20.0%
D8: Northeast 2,900,000$ 2,706,250$ 4 10 105.5% n/a n/a n/a -34.1% -38.5% 300.0%
D9: Central East 1,252,500$ 1,285,772$ 18 45 115.5% 75.2% 73.6% 50.0% 8.7% 15.3% 80.0%
D10: Southeast 632,500$ 616,625$ 28 55 104.9% 20.5% 18.9% -15.2% -1.2% -0.7% -3.4%
February Sales Statistics
(Single-family Homes)
Prices Yearly Change Monthly Change
3.0% 4.0% 5.0% 6.0% 7.0% 8.0%
01-06
04-06
07-06
10-06
01-07
04-07
07-07
10-07
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10-11
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04-12
07-12
10-12
01-13
04-13
07-13
10-13
01-14
30-Year Fixed Mortgage Rates

3. Table Definitions
_______________
Median Price
The price at which 50% of
prices were higher and
50%were lower.
Average Price
Add all prices and divide by the
number of sales.
SP/LP
Sales price to list price ratio or
the price paid for the property
divided by the asking price.
DOI
Days of Inventory, or how many
days it would take to sell all the
property for sale at the current
rate of sales.
Pend
Property under contract to sell
that hasn’t closed escrow.
Inven
Number of properties actively
for sale as of the last day of the
month.
Notices of default, the first step in the foreclosure
process, in San Francisco continues to drop. They were
down 29.3% in January from December. Year-over-
year, notices were down 9.4%. There were 29 notices
in December.
Notices of sale, which set the date and time of an
auction, and serve as the homeowner's final notice
before sale, dropped 32.6% from December, and they
were down 54.4% year-over-year. There were 31.
After the filing of a Notice of Trustee Sale, there are
only three possible outcomes. First, the sale can be
cancelled for reasons that include a successful loan
modification or short sale, a filing error, or a legal
requirement to re-file the notice after extended
postponements.
FORECLOSURE STATISTICS
Alternatively, if the property is taken to sale, the bank
will place the opening bid. If a third party, typically an
investor, bids more than the bank's opening bid, the
property will be sold to the third party; if not, it will go
back to the bank.
There were 42 sales cancelled last month.
Only three homes went back to the bank in January.
There are currently 138 properties scheduled for sale.
With the recent surge in prices, many of them will
probably be cancelled.
The total number of properties owned by the banks was
down 42.7% year-over-year. The banks now own
approximately 240 properties in the city.
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San Francisco Condos: Sold Prices & Unit Sales
(3-month moving average — $000's)
Ave Med Units © 2014 rereport.com
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San Francisco Condos/Lofts: Year-Over-Year Median Sales Price Change
© 2014 rereport.com
Unit
Median Average Sales DOM SP/LP Median Average Sales Median Average Sales
San Francisco 930,500$ 982,552$ 210 38 105.9% 23.1% 11.3% 16.7% -2.1% -11.4% 24.3%
D1: Northwest 1,010,850$ 945,317$ 9 60 108.5% 77.3% 61.7% -25.0% -25.9% -30.4% 125.0%
D2: Central West 810,000$ 810,000$ 2 64 98.8% -15.9% -15.9% 0.0% n/a n/a n/a
D3: Southwest 410,000$ 410,000$ 3 56 108.0% 28.1% 2.7% 0.0% 2.2% 2.2% 200.0%
D4: Twin Peaks 599,000$ 596,600$ 5 16 108.2% 53.8% 49.2% 25.0% -4.8% -5.5% -16.7%
D5: Central 1,062,500$ 1,087,544$ 28 21 113.0% 15.8% 14.5% -22.2% -5.3% -3.2% 16.7%
D6: Central North 725,000$ 766,185$ 20 59 110.5% 4.3% 2.4% 100.0% -17.1% -1.8% 17.6%
D7: North 1,365,000$ 1,274,075$ 15 28 108.5% 25.8% 10.1% -28.6% 0.7% -20.1% -21.1%
D8: Northeast 910,000$ 1,087,057$ 33 46 100.9% 30.7% 22.6% 17.9% -2.5% -17.3% -13.2%
D9: Central East 980,000$ 995,156$ 90 29 104.5% 25.7% 8.6% 50.0% 11.5% 3.1% 52.5%
D10: Southeast 442,000$ 334,416$ 5 147 96.3% 100.6% 51.8% 150.0% -0.7% -24.9% 400.0%
February Sales Statistics
(Condos/TICs/Co-ops/Lofts)
Prices Yearly Change Monthly Change

4. The Real Estate Market Trends Report is published and copyrighted by http://rereport.com.
THE REAL ESTATE REPORT
San Francisco
Robb Fleischer
American Marketing Systems, Inc.
2800 Van Ness Avenue
San Francisco, CA 94109
Go online to see the full report
with the district by district breakdown:
HTTP://WWW.AMSIRES.COM/STAFF/ROBB
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San Francisco Homes: Sales Momentum
Sales Pricing © 2014 rereport.com
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San Francisco Condos/Lofts: Sales Momentum
Sales Pricing © 2014 rereport.com