Leaving for a Saturday walk to North Beach from Cow Hollow I met a young man in the hall of my building dressed in an amazing stripped red suit (with tails) that he proudly told me he bought for $11.00, and it fit perfectly. I commented it was perfect for the right occasion, and he said that he was on his way to Civic Center for SantaCon. He suggested I drive there to watch the action. Drive? What was he thinking? I was on my way for a walk to lunch in North Beach.
Walking back from lunch through Chinatown, and over Nob Hill it wasn’t long before a Santa appeared on the horizon. A block of two further on I came upon groups of Santas and Santa’s Elves happily on their own version of a Saturday walk after a cocktail, or two. By the time I reached Polk Street the street was full of Santas and traffic had slowed to a crawl.
As a REALTOR® I marveled at the thought of the economic impact the wave of young people coming to San Francisco would have on the city. San Francisco has always been a place where people come to have fun and seek their fortune, but today it is also a technology center where people come for jobs, and to make money.
Today the rental vacancy rate here is almost zero. Those who have had a few years to save enough for a down payment on a condo, or house are busy nesting, and the baby boom is evident in all parts of San Francisco.
If the extraordinary number of Santas and Elves celebrating SantaCon has even the slightest relationship to the number of buyers who will be in the market looking for a home in 2012 I expect an increased number of home sales along with an increase in sale price.
What to do now that is different? Both buyers and sellers should talk now with their REALTOR® about their strategy to handle multiple offers, and back-up offers. Be ready to make a deal when the market is hot in 2012.
By next Christmas if you plan carefully, you can meet your friends at Civic Center for SantaCon and end the day with dinner in your new home.
Carole Isaacs is a REALTOR® with McGuire Real Estate—offices in Noe Valley, Marina, SOMA—a photographer and lover of all things San Francisco. Visit the San Francisco City Living Facebook Page for more info; for questions please email firstname.lastname@example.org or call 415.608.1267.