Bay Area Inventories Up, Agent’s Spirits Down

This should come as no surprise to any regular SocketSite readers, but if you haven’t been reading or are new to our community here’s a bit of insight: inventories are up, transactions and selling prices are down, and Bay Area real estate agents are actually having to sell. Some... Read More »

Forget Staging, It’s Now About Posing

An instant classic! A reader forwards an email they recieved promoting a friend-of-a-friends open house this weekend. The classic excerpt: “I have an open house this Sunday from 2-4 and would greatly appreciate if you stopped by and simply pretend to be interested buyers.” Brilliant. And yes, we have... Read More »

Flippers (Not Strippers) Gone Wild

What happens when a venture capitalist and Wall Street executive get together to buy a Broadway producer’s house in the Hamptons for $14 million? According to the Wall Street Journal, they redo the landscaping, wait four months, and then re-list the property for $25 million. That’s $11m in four... Read More »

You Can Relist, But You Can’t Hide

It’s a dirty little secret of the real estate trade: relist (or in this case, change agents) in order to obscure a dramatic price reduction for a property. And it probably worked a lot better before SocketSite (and our readers) joined in the fun. From a reader’s tip: “240... Read More »

The Times They Are A-Changin’

Inman echo’s our previous observations (and then some) concerning the abrupt slowdown in local open house traffic: All the signs are there: no more double parking to get a sneak peek at an open house showing; no more buyers sweating it out to make the best offer among dozens,... Read More »

Flexcar Comes To San Francisco

Flexcar Comes To San Francisco

As of today, City Carshare and Zipcar have some competition in the San Francisco car-share arena. Two important things to note: 1. up to 75% of Flexcar’s fleet will by hybrid vehicles, and 2. if you join and drive by the end of the year, Flexcar will waive both... Read More »

San Francisco Loses 85,000 Jobs

Well, so much for justifying the San Francisco real estate run-up over the past five years on a booming local job market. According to the Examiner, “San Francisco has lost 85,000 jobs since 2000 when the flood of high-paying technology jobs began drying up.” That’s 10% of the entire... Read More »

Boast Busters (SocketSite Style)

On September 20th, real estate agent Matt Lanning posted the following to his blog: There is a veritable saturation in the market this week of way too many homes. This will last for a couple of weeks, then that will be it, more or less, for the rest of... Read More »

Word Of The Day: Palpable

Under the heading “Signs of a changing real estate market”, Inman News kicks off a three-part series on the rapidly changing real estate market. And wouldn’t you know it, Northern California takes center stage. Visitors cruised through the two-bedroom, one-and-a-quarter-bath Northern California home offered for $479,000, but “not as... Read More »

Not Only Fashion Trends Move East To West

For months we’ve been keeping our eyes on the steady uptick of San Francisco listings that have languished in the market and have finally succumbed to the dreaded scarlet “r” (i.e. reduced). We’ve seen nothing, however, to rival what’s starting to happen in New York. Can you believe a... Read More »