San Francisco agent: 2011 will be a 'great year' in real estate

According to San Francisco real estate agent Tim Gullicksen, 2011 will be a great year for the market, especially for first-time home buyers in San Francisco. Gullicksen referenced the recent economic growth as one of the driving forces for a potentially improving market this year, explaining recent activity could indicate optimistic long-term and short-term effects for the market.

"2011 is set to become a great year for first time homebuyers to get into San Francisco real estate," said Gullicksen. "The perception among prospective buyers seems to be that our economy has hit bottom and is now on a slow crawl upward. They did not want to buy if there was going to be further downward movement in the economy and home prices."

For those moving or seeking relocation, increased economic growth can provide a confidence boost for would-be buyers, as it shows home prices may stay level or even increse, which would raise property values. Gullicksen believes the low interest rates and property prices will remain intact, as the Federal Reserve likely wants to avoid creating further roadblocks in an already weakened real estate market.

While Gullicksen's forecast is optimistic, a recent report from the National Association of Realtors shows pending national home sales declined during January. 

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