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June 24, 2013

Another Bubble Brewing for SF Real Estate?

The San Francisco real estate market continues to go gangbusters, and many people are wondering if we’re heading for another housing bubble. It wasn’t long ago that we experienced a housing boom in the city, only to see it break down from 2008-2011. And as buyers agree to pay crazy prices that comparative sales don’t support—waiving appraisal contingencies along the way—things start to feel, well, kind of creepy.

I was recently interviewed for a CNBC story on the subject, “Housing Market: From Recovery to Bubble—Already?” by reporter Kristen Scholer. No, I really wouldn’t be surprised if another bubble is forming, as I state in the story. But interest rates are steadily rising, and it’s quite possible that some buyers will pull back a bit and not be so ready to throw unreasonable amounts of money at properties.

Read the CNBC story here, and take heed if you’re a buyer who’s out there looking to make a purchase. Do your due diligence, don’t be so quick to waive contingencies, and above all, take a long, hard look at comparative sales and be smart in your decision making.

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