Pacifica, California, near San Francisco, offers mild temperatures year round, multicultural opportunities, proximity to the mountains and the ocean, lots of job opportunities, a wide variety of entertainment and activities, and much more, says a local Realtor.
"Pacifica offers a fantastic market for sellers," says Realtor Paul Ryan. "Although multiple offers are not as common as they were in the past year, the market for homes is somewhat underserved. The job situation is still somewhat limited in this area, however low interest rates and an easy commute are really keeping the market strong."
Says Ryan, "It's a great time to sell and a great time to buy. San Francisco Bay Area home sales and prices, edged up a bit again in February as a steady stream of buyers took advantage of affordable home financing and more homes came on the market. Sales volume and prices have started up again over the past month or so. Additionally, due to the current level of inventory, and a strong local economy, low interest rates (presently 5.5%+/- for a conventional 30-year fixed rate loan), property values are continuing to hold steady.
"According to the San Francisco MLS, the average amount of days on the market, for a single-family home, is now approximately about 30 days+/-; concessions are now less typical than just a few months ago. Overall, home values have remained stable throughout the San Francisco Bay Area in the forth quarter, but there are signs of softening. Inventory is rising, days on the market are lengthening, and multiple offers are more infrequent.
"Given the softness of the economy and uncertainty about world events, people remain cautious about values as they look ahead. I believe that lower interest rates, which will continue to stimulate buying activity, will be offset by the wariness about the economy among potential buyers," says Ryan.
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Published: March 31, 2003
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