You’ve heard me say again and again that right now is a great time to buy in San Francisco.
We recently negotiated a fantastic deal for a client on her dream home in one of the most luxe high rises in the city. After touring many new luxury condominiums in South Beach, our client knew she wanted to call 181 Fremont home, but there was one problem. The homes we viewed were above her budget.
The unit she loved was listed at $5,600,000, which was a stretch. She didn’t feel comfortable going above $4 million. We knew the developer was motivated, but a 28% discount didn’t seem possible. Nonetheless, we decided to try. We reviewed the comps and presented our offer; the negotiation spanned several days. We were patient. In the end, our offer was accepted at $1.4 million below the list price, and my client was ELATED.
With a fluctuating market, many buyers wait on the sidelines for the “bottom” before jumping in. These hesitant buyers create even better opportunities for buyers who are ready for the deals right in front of them.
The market is the softest it’s been since 2008. This is especially true for high-rise developments in San Francisco. The only time it’s clear that the market has reached its bottom is when the market starts to go up.
“The Krishnan Team’s actions clearly speak louder than my words…Ruth was able to get me in contract at a price that was an astoundingly 25% below asking price at one of SF’s most luxurious new development high-rise condominiums! Now, that requires serious skill in a tough real estate market like San Francisco.
If a “white glove service” were to be a thing in real estate, then that is what the Ruth Krishnan Team is all about. The biggest differentiating aspect of the Krishnan team is the level of professionalism with which they operate, where the client takes center stage, and everything else is geared towards staying relentlessly focused on getting the client what they want. This made for a truly elevated home buying experience for me!
Ruth listened to every need of mine and kept that at the forefront of the process, starting from not just identifying listings for me but she went beyond to recommend where I would “vibe” better. In just two meetings, she was able to provide me on this advice, and she was spot on! This helped me keep my search efficient and focused. She was a true partner in the sense that although the property that I was interested in was significantly above my budget, she was able to provide me with the right level of market intelligence to co-create a creative offer that put my interests first while maintaining appropriate commercial optics that would also resonate with the seller… This was some next-level negotiation tactic!
What was even more impressive was that although Ruth runs a lean team, it felt like I had an army of people working for me to get this deal done. The speed, efficiency, and thoroughness with which the Krishnan team operated was impeccable. They were always ahead of the game every step of the way, which made the process quick and seamless. They had everything covered!
Ruth has a deep understanding of the SF real estate market and can quickly build relationships with other agents, which positions her clients very well for an optimal deal outcome. The word on the street with other agents, often unanimously, is that Ruth is quite the brand herself. Several listing agents at open houses I visited would tell me that and were keen to collaborate with me because they knew I was represented by Ruth. I felt empowered.
For me, Ruth was less of a real estate agent and instead more of a real partner who shared my vision and went above and beyond to bring my vision to life and how!”
– S.M. Buyer at 181 Fremont
If you have been waiting for the market to reach its bottom, don’t. We only know the market has reached the bottom once it goes back up. There are tremendous opportunities out there for buyers. We already see signs of a strengthening market, so contact us today to find your dream home in San Francisco.