Assessor Phil Ting: “We still have the strongest real estate market in the state.”

“San Francisco Assessor-Recorder Phil Ting announced Thursday that the value of the city’s real estate grew by nearly $2 billion in the past fiscal year, a contrast to decreasing property values in most other parts of California. The total roll assessment value, a combination of residential and commercial property values, grew by 1.3 percent to $163 billion during the fiscal year that ended June 30.

“We’re very, very fortunate in San Francisco,” Ting said. “We still have the strongest real estate market in the state.” He said many homeowners are still worried about the real estate market but predicted “we’re going to see a continued resurgence” in the coming years.”

The full article is here: http://sfappeal.com/news/2011/07/assessor-recorder-sf-has-the-strongest-real-estate-market-in-the-state.php

The Assessor’s office news release: http://www.sfassessor.org/Modules/ShowDocument.aspx?documentid=878

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