Well, another year is behind us here in the San Francisco and San Mateo real estate market and here are the market stats for 2009 in San Francisco.
In 2009, some prices have dropped but there were 4643 sales in San Francisco taking about 2–3 months on the average to close escrow. Real estate is selling. Interest rates have been low and with some government intervention as far as tax credits, the government tried to simulate the home sales.thru out 2009.
As of now interest rates are still down, But the question is how long?
With the home buyer’s tax credit has been extended until the end in April, 2010.
This gives any buyers another opportunity who did not get involved in 2009 a chance to do so in the beginning of 2010. Together with the tax credit, low interest rates, and with the increase of inventory of homes on the market as the beginning of the year usually brings, give buyers reasons to buy now.
In the end 2009 was another challenging year for sellers and another amazing opportunity for buyers and as of right now buyers still have an amazing opportunity but no one knows how know it will last. So my recommendation is to take advantage of it now before it is too late.