Weekend Events and the Weekly Real Estate Update

Skyline -Its Friday Banner

Experience Filipino culture this weekend at the Pistahan Parade & Festival. The parade will be held on Saturday at 11AM. It begins at the Civic Center, and runs along Market towards 4th Street. The festival takes place both Saturday and Sunday from 11AM to 5PM at Yerba Buena Gardens. Admission is FREE.

Or you could take in San Francisco’s 50th Annual Festival of the Chariots in Golden Gate Park this Sunday. The Rathayatra Parade begins at 11AM, and the Festival starts at 1PM in Sharon Meadows. It too is FREE.

Of course, on Sunday, you might just want to settle in for Jerry Day 2016 in the Jerry Garcia Amphitheater in McLaren Park.  The doors open at 11AM, the all day concert starts at about 11:30AM and runs through about 6PM. It is also FREE, though donations will be gladly accepted.

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 8/7/16 – 8/13/16:

CNBC just published a report that says the big jobs number is a win for luxury housing. The news outlet suggests that the larger-than-expected employment gain in July could boost the recovery in prices for luxury U.S. homes.

The luxury end of the housing market is much more sensitive to stock market moves, as higher net worth homebuyers are more invested in equities than the general population. That is especially true here in the Bay Area, where a homebuyer’s wealth and down payment are often more closely tied to technology stocks.

Luxury buyers aren’t motivated by mortgage rates. Want proof? Luxury home prices were well off their highs in the first quarter due to stock market volatility, and then still sluggish in the second quarter even though rates were near rock bottom levels. A healthy economy is what matters to these individuals. A good jobs report suggests things are looking up for the economy, and that in turn likely means renewed demand for luxury homes.

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