Choose San Francisco Foreclosure Homes

by : philip smith

Do you know how San Francisco Foreclosure Homes can help you move in and move up? Do you long to be part of the vibrant and leading edge job scene in San Francisco or The Bay, but can't see how you can afford to move in? Sure, housing is amongst the priciest in the land in both San Francisco and The Bay area, cost of living is super high as well. For those with a great set of skills, a high income means loft and condo living is a breeze, but for newcomers, better to lower your sights and find a way to start up the ladder.

You have a couple of key factors going more your way this fall, timing and the state of the local housing market. As a buyer of real estate between now and spring, you are a keenly sought, desired target. The housing market has remained slow for months, prices are flat. No significant price readjustments are anticipated, San Francisco and the surrounding urban cities enjoy a more positive market than So Cal. Keen sellers are going to have to price well over the slow winter season. On the other hand, median prices for condos look really high ($826,000), although down on last year and sit only 29 DOM. Single family homes sales have slowed a little, but the median price is slightly higher. All the more reason to look at the price advantage offered by a property in pre foreclosure or REO, and adjust your sights in the shorter term.

Some would be home buyers are holding off purchasing concerned that prices may fall over the holiday season. To buy and hold, planning to move in for 3 to 5 years lowers your risk of being unable to sell higher considerably. Choosing the right neighborhood, a motivated seller of a home under Notice of Default, a property with non structural issues, are all wise decisions that mean you can negotiate a great saving, live in and upgrade your foreclosure home then sell when prices are rising once more. If you crave to be part of the inner city, live in the Marina District, Noe Valley or Pacific Heights then make that your ultimate goal. In the short term look for a foreclosure property in the suburbs of The Bay, San Mateo County or Santa Clara, and build your wealth for the move up.