Weekend Events and the Weekly Real Estate Update

Skyline -Its Friday Banner

Catch the 10th anniversary of the Treasure Island Music Festival this weekend and experience the festival on its final year on the Island. The Festival will continue to run in a different location annually, but it has not been announced where, as of yet. Tickets can be bought here and the festival will run both Saturday and Sunday. More information can be found here.

The 27th annual Potrero Hill Festival is also taking place this Saturday from 11am-4pm. The festival will take part between Wisconsin and Missouri Streets. There will be local food vendors and artists, musicians, homegrown entertainment and much more! You can get more details on the event here.

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On the “Homes for Sale in San Francisco” front, here’s our report for this week, 10/09/16 – 10/15/16:

Jonathan Smoke, Chief Economist with Realtor.com, recently published a very thoughtful piece about the real estate reports you read and hear about all the time. He says that homes are not like stocks, new cars, or barrels of oil. Homes are inherently unique. That’s especially true of course in San Francisco.

We see conflicting numbers all the time. The NAR reports one set of numbers, CoreLogic another, Case-Shiller another, and the federal government yet another set of numbers. The problem is their findings are often based on different criteria and different market definitions. It can lead to lots of confusion. What’s more, Mr. Smoke contends there is no such thing as a national housing market – real estate really is hyper-local. So when these organizations report on national real estate trends, that has the potential to simply compound confusion.

Mr. Smoke concludes by saying, “Since home values are complex, inherently unique, and highly variable by neighborhood, no reported price metric will beat the insights of local Realtors… Getting that one-on-one intel is the way you’ll truly get plugged in to the market trends in your neighborhood.” We’re not sure we could have said that better ourselves!

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