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Short Sale’s in San Francisco

by sfishome on September 2, 2008

Yesterday I wrote about the REO search feature in the San Francisco MLS…. today I’ll run similar searches to see how many Short Sales there are in the city and county of San Francisco – and again, please note, this is NOT a “Bay Area” blog. Most “San Francisco” news about real estate is actually inclusive of the entire Bay Area. Last time I checked San Francisco was not in Oakland or Antioch, and those real estate markets have virtually nothing to do with San Francisco.

So… if you’re thinking of Buying or Selling in the City of San Francisco… and now that the MLS here has an option to search for Short Sales… let’s see how many are in the City.

As of today, September 1st 2008, there are 54 Single Family Home For Sale that are Short Sales – meaning the owner owes one or more banks more money then the home is worth – so the bank must agree to take a loss to allow the Seller to Sell. Since there are 532 other “active” homes For Sale in San Francisco that are not listed as Short Sales that means roughly 9% are Short Sales.

Condos/Lofts/Coops = 13 Short Sales. 544 non-Short Sales. So only 2% of Condos/Lofts or Coops Listings are short sales.

That’s pretty interesting since you often hear that Condos are down but Single Family Homes are not. But once again, this is a story of a section of San Francisco that has gotten hit very hard, and that section is made up of mostly Single Family homes.

Take a look at a Map of the Single Family home shorts sales by clicking here. With this map you can see a massive concentration in the most southern neighborhoods.

Then a Map of the Condo Short Sales by clicking here – there are so few that there’s hardly a concentration, although it’s still mostly South.

Finally – if you are interested in buying a Short Sale property, click below for the property details for each type of property.

Click here for Single Family Home Short Sales

Click here for Condo/Loft/Coop Short Sales

If you are reading this well after September 1st 2008 you can email me for an updated list of REO’s or Short Sales. Or scroll down for for the Automated-HomeFinder.com service – BUT please be sure to write in the Comments section that you want ONLY REO’s or Short Sales – any normal search will include REO’s and Short Sales – so only enter it if you are only interested in just the REO’s or Short Sales.

More articles like this
REO’s – a New San Francisco MLS feature

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