Austin KlarVanguard Properties · Lawyer Turned Real Estate Agent

JUST SOLD in Russian Hill San Francisco -- Beautiful Condo with San Francisco Bay Views

Name: JUST SOLD in Russian Hill San Francisco -- Beautiful Condo with San Francisco Bay Views
Uploaded: 2023-09-17T01:00:05+00:00
Duration: 50 s
Channel: Austin Klar
Description: In this brief market update, Austin Klar explains how high interest rates, while challenging, create a unique buying window. He details a recent…

17 Sept 2023 · 1 min

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In this brief market update, Austin Klar explains how high interest rates, while challenging, create a unique buying window. He details a recent transaction where his client secured a Russian Hill condo—detached on three sides with panoramic north‑facing views—for $300,000 below the asking price, despite contingencies and a longer‑than‑usual 30‑plus‑day closing. The lower purchase price allowed the buyer to put down less cash, enjoy reduced property taxes, and position himself for lower monthly payments once rates decline. Klar emphasizes that buying now can lock in these financial advantages and invites viewers to contact him for personalized market advice.

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High interest rates suck, but they're temporary and they present incredible opportunities for home buyers right now. I just got a client into this gorgeous condo in Russian Hill, detached on 3 sides, panoramic north-facing views, incredible natural light. The property lingered for a couple months on the market and we were able to steal it for $300,000 under its initial ask and get a closing credit on top of that. We weren't cash, we had contingencies, and we had a pretty long close by San Francisco standards. It was over 30 days and we got it. And because my client bought it at a lower price than he would've had he purchased it in a lower interest rate environment during the pandemic, he was able to put less money down than he otherwise would have. He's able to pay less property taxes for as long as he owns the property than he otherwise would have. And when rates do come down, which they will, his monthly payments will be lower than they would have been had he bought during the pandemic. Do you want to know what's going on in today's market and how you can take advantage of the circumstances as a buyer? Reach out to me. Hello.