Today statistics are cranked out with lightning speed. Most buyers and sellers pay close attention to these numbers when figuring out what price to pay for a home, and/or how to set their sale price. This is useful information because reports and statistics in the media often show Bay Area cities grouped together, lumping depressed markets with prosperous ones.
Looking at the trends and statistics for San Francisco alone, it clearly shows it being more prosperous than several other areas in California and the country as a whole. A Forbes.com article compared the economic strength of California’s largest metro areas and placed San Francisco ahead of Los Angeles, Stockton and Bakersfield.
Inman News recently reported that only 4.1 percent of mortgages have 90 days or more delinquent payments in San Francisco, San Mateo and Redwood City. These three Bay Area cities rank fourth lowest in the country—with Austin, Round Rock, and San Marcos, Texas being the lowest at 3.1 percent. This is good news, because the statistics are used to forecast the number of mortgages that will eventually turn into foreclosures, also referred to as shadow inventory.
San Francisco’s low rate of delinquent mortgage payments, plus the beginning of spring—which is when the number of homes for sale is at its highest—makes it a great time to start searching for a home in the city.
Would you like to try CleanOffer or help in your search or selling your home? Please e-mail or call me directly at firstname.lastname@example.org or 415.608.1267. Find me on Facebook at San Francisco City Living.