To many more years to come!

I'm so honored to be included in the 2022 Real Trends America’s Best Real Estate Professionals, honoring the top 1.49% (top 1000) of real estate agents from all across the country.  I couldn't do it without my clients and the support of colleagues and loved ones. Thank YOU. To many more years to come! marketingcenter-sfbayarea-sfcityproper

A long-awaited window of opportunity has opened

Sellers in SF have had the upper hand since 2012. However, in May we started seeing heavy volatility and declines in the financial markets. Interest rates climbed above 6%. There are worries about inflation and mumblings about tech layoffs. Whatever the reason, a cooling demand is beginning to show up in the real estate market, and it’s manifesting strongly in pending home sales data.  Here are the latest trends: These trends show that supply is beginning to build, sellers are reducing prices, and the number of homes going into contract is significantly down. Although the market is heading into the typically slow summer season, the inventory is historically high for May (the latest numbers available). While there may not be a single reason behind the drop in activity and increase in inventory, one thing is clear: After 10 years of getting battered and bruised, a long-awaited window of opportunity has opened for buyers.  So, what does this mean for sellers? Market changes are often uneven in the early months of transition, with one home selling in days at huge overbid price, while next door, the seller has to reduce their price to get an offer.  Prices follow deal volume, so a slowing market means prices have most likely peaked in Q1. However, a slowdown does not mean that the market is weak by any normal standard. People will continue to have personal and financial reasons to buy and sell homes. Contrary to what you may read in the news, a slowdown does not suggest that prices are in for a freefall. Instead, the market will most likely slip from a seller’s market to a neutral market this summer.  As the market cools, buyers become more discriminating, negative conditions previously ignored are noticed, more negotiating occurs, multiple offers and overbidding decline.  Listings that are well prepared, staged, show well, and are priced right, will have an increasing advantage over the competition.  What does this mean for buyers?  After the largest and most dramatic upcycle in the financial and housing markets over the past 2 years, a slower market means a break from the bidding wars and sellers more willing to negotiate.  To take advantage of this window of opportunity, buyers should have their financials buttoned up, understand the inventory, and not ignore stale properties (often times these will have more motivated sellers willing to negotiate).  Sellers tend to withdraw their listings when they cannot sell at the price they command. In this case, supply may be squeezed again. Therefore, the next few months may offer both choice and negotiation for buyers who are less sensitive to rate change and financial market fluctuations. Complete market report Is someone you know, ready to move? Let me know - I can help Keep well, Maggie marketingcenter-sfbayarea-sfcityproper

Most desired destinations for homebuyers right now!

Whether you’re looking for a more affordable place to live, better weather, a place to retire, a second home, or a “working from home” home, people are always on the move.  So what placed do people want to move to - and what places do they want to leave?  Realtor.com analyzed the search traffic on their site to figure it out and the results may, or may not, surprise you…… Let’s start with the most desired destinations for homebuyers right now! The map shows that most home buyers prefer to live on the East Coast where home prices are more budget-friendly and offer a lower cost of living.  Punta Gorda (#1), the most sought-after place to live on the list, is a popular vacation and retirement location in Florida with a median list price of $430,000. Rocky Mount, NC (#4) is an outdoorsy location about an hour northwest of Raleigh, NC, and Decatur, AL (#9) is located alongside the Tennessee River just over an hour north of Birmingham, AL. Median list prices in the metros were $232,500 and $268,000 respectively. The most popular vacation destinations are East Stroudsburg, PA (#2), and Claremont, NH (#6). East Stroudsburg is part of the Poconos, an area long popular with travelers for its lakes, trails, and ski resorts, while Claremont attracts visitors who like to kayak and fish along the Connecticut River or ski at a local resort. Shoppers viewing vacation areas didn’t limit themselves to cheaper locales only. More pricier locations on the list of attractive places where people want to live include Kahului, HI (#3); Prescott, AZ (#5); Hilton Head Island, SC (#7); and Barnstable Town (Cape Cod), MA (#10), and Santa Fe, NM (#8). Let’s take a look at the places that people seem to be dying to leave Military bases and university towns are seeing a lot of turnover. Once assignments or contracts end, or military personnel are re-assigned, people in Columbus, GA (#4), and Dover, DE (#9) want to leave. Big college towns are also more transient as students graduate and then move back home or closer to their new jobs, putting Gainesville, FL (#5), Fort Collins, CO (#6), and South Bend, IN (#7) on the list of places that people want to leave. Despite getting highly paid, tech professionals in pricier areas like San Jose, CA (#1), Seattle, WA (#2), and Washington, DC (#3) are still impacted by the expensive home prices. With remote work, many buyers in these cities are relocating to cheaper parts of the country, or to live closer to family.  In addition, as many places have become more expensive during the pandemic as they’ve attracted buyers from all over, leaving locals to seek out cheaper options. For example, the median list price in Fort Collins, CO, was up 13.1% in March from the same time a year ago, at $635,995. Prices were up about 17% in Manchester, NH (#8), and nearly 22% in Fargo, ND (#10). Read Full Article Is someone you know, ready to move? Let me know - I can help Keep well, Maggie Maggie Visser DRE #: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper