I work with a variety of clients, from first time homebuyers to seasoned investors. And the market affects each one of them differently.
Recently, NuWire Investor contacted me to talk about how investors are responding to market conditions in SF, and since I am addicted to real estate, I was happy to give them my 2 cents:
With the national real estate market still in tumult, how is the pricey San Francisco market faring for investors?
“The worse the market gets, the more investors tend to come out to take advantage of deals out here,” Luba Muzichenko, a Realtor with Zephyr Real Estate in San Francisco, says. Muzichenko blogs about San Francisco real estate at www.lubasf.com.
Unfortunately for those investors, a credit drought may stand between them and some of the better deals seen in San Francisco in years. “Finding financing has made it much tougher for investors to actually purchase the deals that they’re after,” Muzichenko says. “With down-payment requirements that hover between 30 to 35 percent at a minimum and lenders scrutinizing both the investor and the investment property, closing the deal is that much more difficult than finding it.”
The article doesn’t stop there, and if you’d like to read the remainder (and read my take investing in a home or rental property in current real estate market) you can check out the rest of the article here.