From Drab to Fab: An 8-Week Home Makeover Story

When it comes to real estate, first impressions are everything. Transforming a property can be the difference between sitting on the market vs selling for top dollar. Over the past 8 weeks, we took a tired property and gave it the ultimate makeover. Here’s how we went from drab to fab. Week 1: Cleared out the old to create a clean slate for transformation. Week 2: Fresh interior and exterior paint breathed new life into the home. Week 3: Sleek, durable flooring replaced worn-out surfaces for a modern look. Week 4: Bathrooms received a stylish upgrade with updated fixtures and tiles. Week 5: The kitchen received new quartz countertops and appliances. Week 6: A backyard cleanup and fence repair made the outdoor space inviting. Week 7: Thoughtful staging showcased the home’s full potential. Week 8: The home hit the market, ready to wow buyers with its glow-up. 239 Palisades Dr Every home has potential, it just takes the right steps to unlock it! Ready to transform your home into something extraordinary? Let's talk! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Maggie's Market Minute: Luxury Market Surges & Seasonal Slowdown Starts

Luxury Market Comeback In October, median prices were up year-over-year—2% for houses and 5.5% for condos—while luxury home sales made a big comeback, with year-to-date sales up an impressive 48%. This surge in the luxury market could be tied to record-high stock markets, fueling demand among high-end buyers.

Surge in September Listings Drives Contracts and Boosts Buyer Competition A big jump in September listings helped push the number of homes going into contract to its highest point since 2022. The absorption rate hit a two-year high, with monthly sales volume up 19% and transactions increasing 11% compared to last year. In October, homes were selling faster, and overbidding became more common, showing that certain segments of the market were seeing strong buyer interest. Seasonal Slowdown Ahead: A Window for Savvy Buyers November and December typically bring a noticeable slowdown in the market, and we’re already seeing many buyers holding back, waiting for the right moment to make a move. Mortgage rates have surged despite the Fed lowering rates, creating a disconnect that may be causing buyers outside the luxury segment to pause their plans, leading to slower activity in more affordable price ranges. With buyer demand and new listings cooling during this season, we can expect more unsold properties to be pulled from the market. However, for those still actively looking, this quieter period can present excellent opportunities to negotiate and secure some of the best deals of the year. Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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How My Clients Won Against a Higher Cash Offer

The Challenge of a Competitive Market Securing a home in a fiercely competitive market with multiple offers can feel nearly impossible. My clients recently faced just such a challenge: their offer, though strong, wasn’t the highest. There were 4 offers on the table, with the top one being a cash offer and a 7-day close. My clients had a solid down payment but needed 30 days to close. Turning the Tide Through Relationships However, determination and relationships made all the difference. I’ve known the listing agent for some time, and I was able to advocate for my clients, winning the agent's full support. This connection allowed me to sell my clients as the ideal buyers, despite their need for more time to close. A Strategic Adjustment for a Win-Win Outcome With quick decision-making and a slight adjustment to match the highest offer, we were able to compensate for the longer closing time. By sweetening the deal, both my clients and the sellers benefited: my clients secured their dream home, and the sellers got top dollar. More Than Just Numbers This experience highlights an important truth in real estate: success isn't just about the numbers—it's about relationships, decisiveness, teamwork, and going the extra mile. Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Olympic Parallels to Real Estate

As the Olympics wind down this weekend, I am feeling a mix of emotions for these incredible athletes. From the joy of victory to the agony of defeat, the Games are the ultimate test of skill, endurance, and determination. It reminds me a lot of the real estate market. Real Estate is a Competition The excitement and energy of the Games reflects the competitive nature of real estate, where bidding wars and success depend on preparation, timing, and navigating fierce competition. Preparation and Strategy Lead to Winning Just as athletes spend years training for a moment of peak performance, buyers and sellers must carefully plan when buying or selling a home. Well-prepared homes attract top offers, while prepared buyers win with quicker closes and fewer contingencies. Overcoming Real Estate Hurdles: The Power of Quick Decisions Like hurdles in a race, factors like the economy, market conditions, interest rates, and insurance can disrupt your real estate plans. Success often depends on making split-second decisions that determine whether you win or lose the deal. Resilience in the Face of Setbacks Just as athletes must rise from disappointment to continue pursuing victory, sellers and buyers must stay resilient through setbacks, with sellers remaining flexible and patient as market conditions change, and buyers adjusting their criteria while staying persistent in their pursuit of a dream home. Winning in Real Estate: A Gold Medal Approach Winning gold at the Olympics and success in real estate both take dedication, planning, and the ability to perform under pressure. In both fields, it’s not just about talent or luck—it’s about strategy, resilience, and being ready to seize the moment when it matters most. Are you, or someone you know, ready to be a winner? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Life is Unpredictable: Set Up a Trust (Regardless of your Age!)

It's never pleasant to think about the unthinkable—death and accidents. Alas, life is unpredictable.....just in the past year, two of my clients had freak accidents (one fatal) and a friend was diagnosed with stage 4 cancer. There's currently a condo for sale that belonged to a young woman who tragically lost her life due to domestic abuse. Death and accidents aren’t just a concern for older homeowners; it can affect anyone at any age. Probate, a lengthy and costly court process, decides what happens to your assets after you die or become incapacitated. Even if you have a will, your estate will go through probate upon your death unless your home is titled with the right of survivorship. Shockingly, $2 billion is spent every year on probate attorney fees alone! To protect your assets, you may want to consider holding your home in a trust. Why Set Up a Trust? Avoid Probate: Probate can be long and expensive. With a trust, your property skips probate, making things quicker and easier for your beneficiaries, saving them time, stress, and money. Protect Your Stuff: Trusts can keep your assets safe from creditors. Control Distribution: You can make sure your assets go exactly where you want, following your specific wishes. Provide for Minor Children: Trusts can protect beneficiaries who might not be able to handle their inheritance, like young children, those with disabilities, or those at risk of financial mismanagement. Keep Things Private: Probate is public, so anyone can see the details of your estate. Trusts are private, keeping your financial matters confidential. Manage Property Continuously: If you can't manage your property due to an accident or illness, a trust ensures your property is managed according to your wishes without needing court involvement. Reduce Estate Taxes: Some types of trusts can help you cut down on estate taxes, keeping more of your money for your beneficiaries. Putting your home in a trust can give you and yours peace of mind, no matter what happens. If you have any questions or need help setting up a trust, feel free to reach out and I can connect you. Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Maggie's Market Minute: Q2 May See the Hottest Market since the Pandemic Boom

With the first quarter of the year behind us, the real estate market has seen some big changes in supply and demand. This shake-up has brought about fierce competition and a flurry of activity in the market, pushing significant home price increases spanning from starter homes in hot neighborhoods, to luxury properties in every price bracket, as well as chic condos ticking all the boxes and well-priced listings in desirable neighborhoods. Driving Forces The surge in buyer interest has been boosted by stable interest rates holding steady around the mid-6% range and optimism driven by anticipated rate decreases. Plus, the stock market's performance, especially indices like the S&P and Nasdaq, are adding fuel to the real estate fire. Consumer confidence is also riding high, hitting its peak in almost three years, even though inflation rates are above the Fed's 2% target. New Opportunities Despite the overall surge in buyer activity, certain market segments still provide excellent opportunities where buyers have significant leverage. One interesting trend worth noting is the rising value opportunities in downtown markets. Recent data shows a stark contrast in condo appreciation rates between downtown areas and other parts of the city, with downtown neighborhoods enjoying a robust 7% year-over-year increase in median sales prices, compared to 3.5% in other neighborhoods. Outlook for Q2 Considering current trends and market conditions, it's highly probable that significant home price increases will persist into the second quarter of 2024. Click Here for a Complete Market Report

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Maggie's Market Minute: A Perfect Storm of Booming Confidence and Lower Rates

Hold onto your umbrellas! Consumer confidence shot up by a whopping 29% in just two months, marking the most significant surge since 1991. The stock markets are booming, with the S&P 500 hitting a record high yesterday following an unexpectedly robust jobs report. Mortgage rates? They're currently chilling at their lowest point since May 2023. With all these factors at play, there's an exuberance, and a wave of eager buyers flooding the market. The days of homes sitting around with no takers seems to be fading fast. Now, many new listings are flying off the shelves within days, often sparking bidding wars and multiple offers. Homes that lingered on the market last year are suddenly hot commodities, some even selling over asking. And guess what? This isn't just happening in the ritziest neighborhoods; it's even reaching downtown. Below is a quick rundown of how the action is unfolding across the city.

Only time will tell how long this is going to last, but for now we are savoring the rainbow after what has been a stormy 2023 in the housing market 🌈.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Reflecting on 30 Years: From JFK to Gratitude

30 Years ago. It was a cold and wet January day. When we touched the ground at JFK. It's hard to believe that it's been three decades since I embarked on an internship in Miami that was meant to last only six months. Little did I know then that this journey would take me through unexpected twists and turns, leading me to Atlanta where I met my husband, relocating to New York where I encountered my first experience with snow – a defining moment that ultimately led me to San Francisco where I found my true home. As I reflect on the past 30 years, I can't help but marvel at the role luck, running and the incredible people in my life have played in shaping my journey. I have a deep sense of gratitude for the opportunities this great country has bestowed upon me. The land of dreams and possibilities, where hard work is rewarded, and dreams can become a reality. I appreciate the countless doors that opened for me, the chances I was given, and the unwavering support of those who believed in my potential. To all those who stood by me, believed in me, and influenced my path, thank you from the bottom of my heart. It's the collective efforts and shared moments that have shaped the person I am today. Here's to the next chapter, filled with gratitude, growth, and the unwavering belief that the best is yet to come! -Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Quality at a Fair Price vs. The Illusive Bargain

Did you know that Charlie Munger, the investing legend who recently passed away, played a big role in changing Warren Buffet's approach to investing? Instead of buying struggling companies at low prices, Munger steered Buffet toward focusing on quality companies at fair prices. It's a lesson that applies not just to investing, but also to buying a home. I often hear buyers talking about hunting for that perfect "bargain." But in competitive markets, it's tough to find a true steal without facing a lot of competition. This kind of pursuit is usually better suited for real estate pros, not buyers looking for a place to call home. Some people see a home as just four walls and aim to snag the cheapest deal out there. But it's important to be realistic about the long-term value of such a purchase. Seeing value at the time of purchase takes a trained eye and professional guidance. After keeping a close eye on real estate for the last decade, I've learned that the best long-term results often come from high-quality properties in prime locations. Great investors, like Munger and Buffet, don't just look at stock prices; they invest in the product and the companies behind them. Their focus on fair-price purchases over the years really speaks volumes about the success of this approach. So, whether you're investing in stocks or buying a home, remember that focusing on quality and fair prices tends to lead to the best outcomes. It's a valuable lesson to keep in mind for both investors and homebuyers. Having said that: Hello December - it's a great time for home deals! Below is a snapshot of a few homes that sold this week for less than their purchase price. There are deals to be found on high quality homes during this time of the year!

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Maggie's Market Minute - A Bit of a Rollercoaster Ride

Last week was a bit of a rollercoaster ride, with the economy finally showing signs of cooling down….this news is exactly what both the financial markets and the real estate market have been eagerly anticipating. Here’s what happened: The Fed left the interest rate unchanged after the meeting on November 1st Manufacturing cooled Employment declined New hirings cooled Jobs report was weaker than expected Unemployment rose to 3.9%, up from 3.8% The stock market is buoyant as it appears we are done with rate hikes and have continued to rally for 4 consecutive days. mortgage interest rates saw a sudden drop down to 7.38% (and it is holding steady) after climbing to a 20-year high at 8% in October. Lower rates + stock market rally = great news for the housing market Now, for the nitty-gritty. House prices are down 2% YoY and condos are down 3% YoY, but things have been relatively flat recently. September saw a burst of new listings, more than we've seen in a while. Although it tapered off since then, it sparked a boost in sales last month. October typically sees the peak of price reductions. This year, a whopping 350 listings had their prices adjusted last month. Follow the link below for a complete market report. As we head into the slowest period of the year, many properties are being pulled off the market. It's a golden opportunity for savvy buyers who want to stay in the game – less competition and room for some aggressive negotiation. Time to take a second look at those homes that have been on the market for a while!

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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SF Faces 267-Year Delay to Build 82,000 Homes!

As someone who recently went through the permitting process to enclose our back stairs and add a deck, I can attest to the challenges and frustrations involved in getting anything build in the city. In my experience, it took a staggering 21 months to obtain a building permit, despite having zero objections from my neighbors….and the price nearly doubled from two years earlier. Many of you may already know that the city has been tasked with building 82,069 new homes by 2031. To put it into perspective, the city needs to approve 28 units per day to fulfill the housing element's objectives. In July, the city approved a mere 3 housing units Shockingly (not), at the current permitting rate of only 26 new housing units per month, it would take over 267 years to achieve these goals. Whilst there are external factors beyond the city's control, such as rising mortgage rates and a softer housing market, that hinder housing production, it is crucial that the city addresses the issues within its control: the time and money associated with obtaining development approvals. So how can we streamline the process? Reform the permitting procedures Decrease the number of hearings and legal disputes Align density restrictions with existing height, size, and setback criteria Hold city staff accountable And perhaps then we can expect to make a dent in the 267-year timeline.

Just Listed!

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Maggie's Market Minute - YoY home price declines have turned positive

The surprisingly quick recovery suggest that the residential real estate downturn is turning out to be shorter and shallower than many housing economists expected after mortgage rates soared last year…..there still aren’t enough homes for sale to meet demand” -WSJ 9/8/23 YoY home price declines have turned positive After the market peaked in mid-2022, year over year home prices began to decline, peaking in the Spring. However, the tide is now turning. In August, we saw YoY median home price appreciation turned positive (5%). Although this does not mean that we are back to the highs of Spring 2022, we expect to see YoY appreciation continue to grow. Fewer sellers = recovery in home prices, despite high mortgage rates The decline in the number of sellers putting their home on the market continues to impact the balance between supply and demand, helping the recovery in home prices despite mortgage rates over 7%. In response, all cash transactions nationally have been running at its highest level in 8 years. Variations depending on property type and location Since the pandemic peak, declines in the condo market has been more pronounced compared to houses. Small condos (studio/1-bed) and Downtown condos were hit the hardest. Prices in Downtown are now comparable to 2014 prices, offering investment opportunity for those with long-term vision. The Luxury Market The luxury market ($5M+) has also seen a decline, with more sales under the original list price than over. As of September 11, 51% of active listings have been on the market for 60+ days and there are 94 active/coming soon listings. Fall is typically the busiest time of year for new listings The Fall market runs from Labor Day until mid-November, and September is typically the month when we see the largest number of new listings. With 509 new listings hitting the market since Labor Day, we expect to see substantial activity this Fall. If you’re in the market to buy a home, buckle up and get your financing sorted out so that you don't fall behind. Homes that check many boxes are flying off the market.

Follow the link below for a complete market report.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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1987 news clip reveals eerie parallels to today's San Francisco

In 1987, San Francisco was in the midst of a "doom loop." The city's economy was in decline, businesses were moving out, and the homeless population was skyrocketing. Some people even predicted that the city would be "dead" within a few years. Check out this CBS news clip from the archives...

But San Francisco didn't die. In fact, it made a remarkable comeback. The city's economy rebounded, businesses came back, and the homeless population was reduced. Today, there are some who are speculating that San Francisco is once again in a doom loop with its economy facing challenges, high downtown office vacancy rates, businesses moving out, and rising drug abuse and homelessness.

Is history repeating itself? According to Pitchbook, nearly half of all funding for artificial intelligence (AI) worldwide in the first three months of this year went to San Francisco companies ($11.1 billion). Mayor London Breed has declared San Francisco the AI Capital of the World, and a recent report from Avison Young identified nine AI companies looking for more than 700,000 square feet of office space in the city. While AI alone will not be the magic bullet that brings downtown back, it is a start. The future is uncertain, but one thing is for sure: the City will continue to be a place of innovation, creativity, and diversity. San Francisco has faced challenges before, and it has always come back stronger.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Homeowners Insurance: The Latest Hot Button Issues

State Farm and Farmers recently stopped selling new homeowners’ insurance policies in California. Meanwhile, some of the 115 other insurance companies who are still writing new policies have introduced significant changes to their underwriting practices, and many are reducing coverage based on a number of issues. The Hot Buttons Issues Age of the building (pre-1925) Age of the roof (older than 15 years) Electrical wiring (knob & tube) Occupancy (tenants present) Any previous claims on the home, regardless if it was paid out Replacement costs of $2M+ The Fallout Insurance is a requirement for mortgage loans, so the lack of insurance options may impact people's ability to buy. In a market that is already challenging due to high interest rates, a limited supply of homes, increased competition and higher housing prices, some buyers are denied insurance or forced to pay higher premiums. Some face renovation requirements, causing delays in transactions. And the insurance issue is not only limited to real estate transactions. Even some existing homeowner policies are getting cancelled, despite having no history of any claims.😯 What Steps to Take If you already own a home, or you're thinking about selling your home, you can avoid any insurance surprises by taking the following steps: Regularly Maintain the Home: Keep the home in good condition by performing regular maintenance tasks such as repairing leaks, replacing the roof, updating electrical systems, and addressing any structural issues. Insurance companies may inspect the property before providing coverage. Install Safety Features: Enhance the safety of the home by installing security systems, smoke detectors, and deadbolt locks. These measures can reduce the risk of theft, fire, and other potential hazards. Upgrade Electrical, Plumbing, and Heating Systems: Outdated electrical, plumbing, and heating systems can pose risks. Upgrading these systems to modern standards can make the home safer and qualify for insurance coverage. Bundle Insurance Policies: Some insurance companies offer discounts if you bundle multiple policies, such as homeowners and auto insurance, with them. Inquire about potential discounts to reduce the overall cost of insurance. Maintain a Claims-Free History: A history of frequent claims can raise red flags for insurance companies. Try to minimize unnecessary claims and only file claims for significant damages or losses. Don't Miss a Payment — or you may find yourself among California’s uninsured. If you're a buyer, check with an insurance agent prior to making an offer to make sure what coverage options are available and/or include an insurance contingency in your purchase offer. The Future It is unclear if other insurance providers will also withdraw from the California market. Overall, the impact of these changes will become more apparent over time, and it is expected to make homeownership more expensive, particularly for entry-level buyers.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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The SF Market: A Death Match Between Developers, the Dead and the Divorced

The SF real estate market is currently being driven by 3D's: Developers, the Dead, and the Divorced. Developers are selling because they see the opportunity to make a profit in a low-inventory market. The Dead are selling because they no longer need a home. The Divorced are selling because they must split their assets. These 3D’s seem to be the only ones who are consistently listing their properties for sale these days. Everyone else is hanging on to, or held captive by, their low-interest rate mortgages….a trend that is causing tight inventory. Despite interest rates that inched up recently, we are seeing surprisingly strong demand from buyers who are competing for a limited number of homes. What does this mean for homebuyers? If you're a buyer, be prepared for a competitive market. There are more buyers than sellers in the market, which drives up prices. The best homes sell quickly. Single-family houses and condos that don’t require any work and are located in a desirable neighborhood are in high demand. You'll need to be prepared to pay a premium for those. You'll also need to be flexible with your criteria as you may not be able to find the exact home you're looking for. This means that you may need to compromise on things like location, size, or condition. Buyers are very picky lately and will pass on homes that require cosmetic updates. So, if you are willing to put in some work, you can find great deals.. What does this mean for sellers? If you're a seller, you're in a good position to get a good price for your home, if you prepare it to look at its best and price it right. It's unclear how long this trend will last. But for now, the 3D's are providing some relief to the lack of new inventory and keeping prices strong in the city.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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The rumors of SF’s demise. True or false?

San Francisco has been the subject of much doom and gloom in the media lately, portraying the city as a dystopian hellscape and rumors of a “Failed City”. Although the city has faced several challenges in recent years, here are some examples of why I believe the rumors of San Francisco's demise are greatly exaggerated: LAYOFFS Of the 49,425 layoffs announced by San Francisco companies, only 8,526 will be cut from offices in the city. This means that most layoffs will not affect San Francisco's economy directly (SF Standard). UNEMPLOYMENT San Francisco has the second-lowest unemployment rate in California, at 3%. This is well below the national average of 3.6%. INNOVATION Where else in the world do you see a self-driving car pulling up next to you at a traffic light? Cruise and Waymo are expected to get approval in June to operate self-driving taxi services for fare-paying passengers that operate 24 hours a day across the city.. OFFICES & EVENTS Real estate developer Michael Shvo is performing a $250 million renovation on the Transamerica building. The goal is to provide an experience in an office environment that's better than what one has at home, giving employers another tool to bring people back into the office. Tech-oriented co-working and events space Convene is also opening its first San Francisco location in October. RETAIL Luxury brand Chanel purchased the Williams-Sonoma building in 2021 for $63 million. This investment shows that businesses are still confident in San Francisco's economy. DOWNTOWN

Pedestrian traffic in Union Square is up by 27% compared with the same period last year. High-end Japanese-Peruvian restaurant brand Chotto Matte is scheduled to open in the summer at the former Macy's Men's Store......a sign that people are returning to downtown.

TOURISM SFO traffic is reaching levels that haven’t been seen since March 2020. International travelers spent $3.7 billion in San Francisco last year. This is up from $1 billion in 2021, but still below the $5.1 billion spent in 2019. However, the increase in spending is a sign that tourism is recovering.

STEPH CURRY CBSSports | Getty Images Although the Warriors' early exit from the playoffs was disappointing, 35-year old GOAT Stephen Curry's continued success on the court brings joy to the city, and his off-court work has made him a role model and a source of hope for San Francisco, demonstrating that anything is possible if you work hard and never give up.

So, are the rumors of SF's demise true or false?

Sometimes it is easy to feel like the problems in the city are insurmountable, but it is a shame to let the challenges of homelessness, drug addiction, and shoplifting overshadow all of the good things that the city has to offer. For me, San Francisco is a vibrant and exciting place to live and work. It is my home and I am not going anywhere.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Last Minute Mother's Day Events & Gift Ideas

Mother’s Day is this Sunday. If the date slipped your mind and you’ve not made any plans yet, or you’ve not found the right gift yet, don’t worry: There’s still time to plan a surprise or buy a gift. Whatever the mom in your life is into, or whatever your budget, scroll down for list of things to do and some last-minute gift ideas that may be just right. But don’t wait any longer..... Sunday will be here before you know it. Mother's Day BRUNCH

For Mother's Day brunch in San Francisco, my favorites include the following: Mother’s Day Brunch at The Ritz-Carlton The Ritz-Carlton's Mother's Day menu includes fancy brunch and lunch items, mimosas, and a Bloody Mary bar. Moms will also receive a free pastry and have the opportunity to create a flower bouquet to take home. The brunch has two seating times at 11 a.m. and 1:30 p.m. on Sunday, May 14th. Prices range from $55 to $145, and reservations are required. The location is Parallel 37 at the Ritz-Carlton on 600 Stockton St. in San Francisco. Check it out!

Lokma Lokma offers spacious street seating and serves Turkish and Mediterranean brunch dishes. The menu includes a variety of options, such as Greek yogurt pancakes, Menemen scrambled eggs with tomatoes and peppers, Turkish sausage and feta breakfast dishes, and a Turlu omelette with Turkish ratatouille and tzatziki. The restaurant is located at 1801 Clement St, San Francisco, CA 94121. Check it out!

Feinstein's Mimosas & Motown Brunch

Mother's Day brunch at Feinstein's includes a live Motown tribute concert from the Bay Area-based band, Top Shelf Classics. The tickets include brunch, mimosas, beverages, and the performance. There are three different brunch seatings at 9:30 am, 9:45 am, and 12:15 pm, and the concerts begin at 10:30 am and 1:15 pm. The event is for all ages and tickets range from $45-$89, with reservations recommended. Check it out!

FESTIVALS

Chase Center Mother’s Day Festival & Outdoor Movie

Thrive City is hosting a free Mother's Day celebration on Saturday, May 13 at 1PM. The event will include various activities such as crafting stations, massage chairs, a kids zone, and health resources from Kaiser Permanente. The day will end with a showing of the movie "Freaky Friday" on the plaza board. Those who wish to attend the event must RSVP while supplies last. Check it out!

Half Moon Bay Wine & Jazz Festival (2023)

The Half Moon Bay Downtown Association is hosting the second annual Half Moon Bay Wine & Jazz Festival on Saturday, May 13 at 12:00 pm, which will feature more than 40 renowned California wineries and nationally-known jazz artists, such as Paula West, the Marcus Shelby Quintet, and the John Santos Sextet. There will also be top Coastside food vendors serving delicious cuisine, and a variety of local brews available on tap. Admission to the event is $25, and it will take place at Downtown Half Moon Bay. Check it out!

MUSEUM

Free Museum Day at The Exploratorium

On Sunday, May 14, The Exploratorium is holding a free "Community Day" in honor of Mother's Day at Pier 15. Visitors can participate in free bilingual activities, such as folklórico dances and a mariachi concert serenading mothers. Admission is "pay what you wish" and is available to everyone, not just mothers. However, entry is subject to capacity, so it is recommended to arrive early. Check it out!

SAIL

Mother’s Day Women of the Bay Afternoon Sail

Experience a leisurely sail around San Francisco Bay on board an 80-foot gaff-rigged coastal schooner/sailboat, while celebrating the women who have played a significant role in shaping our local bay history. The sail takes place from 1:15-4PM on Sunday, May 14, and reservations are required. The cost is $129 per person, and the sailboat departs from Slip 465 at Schooner Freda B in Sausalito. For more information or to make a reservation, please call 415.331.0444. Check it out!

LAST MINUTE GIFTS Time is running out! The Strategist has 33 last-minute gifts that will arrive by Mother’s Day. Click 👇 to check it out.

Mother's Day Gift Ideas!

Happy Mother's Day to all the Moms. May you feel appreciated, cherished, and loved beyond measure. Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Maggie's Market Minute: A Spring Real Estate Revival

The housing market landscape in Q1 of 2023 has been complex, characterized by events such as repeated rainstorms, a regional banking crisis, stock market fluctuations, and tech layoffs. On a year-over-year basis the housing market remains weaker, although comparing Q1 of 2023 to the same period in 2022, which was the peak of a historic 10-year runup, means that many year-over-year comparisons will be distorted: Monthly sales volume is down 38% and luxury home sales are down 55% compared to Q1 2022. Median sale prices have dropped (in large part due to a significant decline in sales of the luxury market). Median house sales price was down about 18% and median condo sales price was down about 7% from Q1 2022. The spring selling season has been gaining momentum Despite the complexities since the beginning of the year, buyer demand is improving, overbidding percentages are rising, and the amount of time homes are spending on the market is decreasing. Most neighborhoods across the city are reasonably balanced, the central neighborhoods (Cole Valley/Eureka Valley/Noe Valley/Forest Hill/St Frances Wood/Miraloma) and Sunset are very hot, whilst SoMa/South Beach/Mission Bay are slower than usual due to higher supply levels and remote work. Buyers should not expect conditions from last winter Across all Bay Area markets, we are seeing a low flow of new listings as sellers hold off from listing their homes due to higher interest rates. The low number of new listings is holding back sales activity, and it may also be the secret weapon that is preventing price declines. Buyers should be aware that sellers may not be willing to negotiate as much as before. Where is the market heading? The two most important metrics to keep an eye on in the Spring market are interest rates and the number of new listings coming on the market. If interest rates move any lower, we expect buyer demand to increase accordingly. If sellers remain reluctant to list their homes, supply will remain low. When there is low supply and high demand for homes, it is likely that the prices will increase due to the competition among buyers. For a detailed report, please click on the Flipbook below.

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Discover the Secrets of America's Wealthiest

Henley and Partner's 2023 Wealth Report is a wealth of information (pun intended!) about the state of wealth and income in the United States. Below are a few interesting findings from the report.

The 5 Wealthiest Cities

Top 10 U.S. towns where millionaires are buying second homes (40% are located in California)

Top 5 Wealth Creating Industries

The 2022 Ultra-Luxury Real Estate Report Click the image to view full report.

Are you, or someone you know, ready to move? Whether you're looking in San Francisco, or somewhere else, I can connect you with a top agent around the country! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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Maggie's Market Minute: Higher rates and higher prices?

Following the sharp drop in market activity in the latter half of 2022, which was the slowest in 10-20 years and hit a low of 45-50% below the previous year's activity, there was a notable recovery in market activity at the start of the year. This resurgence was driven by a decrease in interest rates, and it felt like the frenzy of the pandemic era all over again, with a significant surge in open house traffic, offers made, overbidding, and absorption rates. February saw an increase in rates and fewer new listings Due to an underwhelming inflation report, the Federal Reserve raised interest rates in February, leading to instability in the financial markets and an increase in mortgage rates. Meanwhile, since the spring of 2022, there has been a significant reduction in the number of new properties being listed on the market. This trend is observed nationwide, with new listings hitting an 18-year low. The primary reason for this is that 85% of mortgage holders have locked in rates of 5% or lower, with 28% having rates below 3%. As a result, homeowners with low mortgage rates are less inclined to sell, contributing to a shortage of inventory. Increased rates = increased home prices? Although mortgage rates have gone up, and there has been some instability in the stock market, there is still a significant demand for housing. Open houses continue to attract large numbers of buyers, and offer dates are being set with multiple offers being made. Additionally, the percentage of listings accepting offers has rebounded, indicating that the demand for housing remains high. If mortgage rates continue to go up, and fewer homeowners want to sell, it could lead to: Low Inventory + Strong Buyer Demand = Home Price Appreciation The next inflation report is due next week and the Fed has indicated that they’ll continue to raise rates to combat inflation. Only time will tell how interest rates will impact the housing market in future months. Stay tuned!

Are you, or someone you know, ready to move? Let me know - I can help! Cheers, Maggie

Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.

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