I’ve been hitting up some of the newer developments in San Francisco over the last month, and it seems that every place I’ve visited, the sales people have hinted (and in some cases blatantly blurted out) that if I buyer is interested in something, to just make a lowball offer.
At one Mission Bay development I visited, the salesperson said that the developer is pretty much accepting offers $100K under asking and it is pretty standard practice these days and was pretty much considered a done deal in many instances. And if a buyer wanted other incentives, such as upgrades, paid HOA dues, credits and more would be considered as well.
And according to today’s San Francisco Chronicle, my observations that many sellers are ready to wheel and deal were confirmed. Many developers are now making their discounts and incentives public and are actually advertising them.
According to the article, the City’s new developments that are making announcements that they are ready to deal are:
- The Millennium Tower
- The Radiance
- One Rincon Hill
- The Highpoint
- The Cubix
But I’ve also heard of amazing deals at:
- The Infinity
- The Hayes
- The Arterra
- SoMa Grand
- Symphony Towers
- The Montgomery
- Candlestick Point
Almost all available units at the various new condo developments in SF are offering some kind of concessions on price or a variety of other bonuses. If you’ve been thinking about buying new construction in San Francisco, you are in luck. If you want more info, give me a holler.