San Francisco Real Estate - August 2022 Report

marketingcenter-sfbayarea-sfcityproper

The tide is turning

The impacts of this year’s economic headwinds – soaring inflation and interest rates, stock market declines, and fears of recession – are having an impact on the housing market.  As the Tide Turned... The first effect was on buyer demand (fewer buyers, fewer offers, less overbidding and fewer homes into contract), leading to changes in supply (more homes for sale, more price reductions), which led to lower appreciation rates and fewer homes selling.  All of these began to alter buyer and seller psychology and the balance of power between them. As we enter the second half of 2022, we are seeing a new breed of home buyers emerge. And the tide is turning for home sellers. A New Breed of Home Buyers  With mortgage rates that have almost doubled since the beginning of the year and down payments tied to  a volatile stock market,  home buyers are re-balancing their priorities. They are adjusting their expectations to align with their level of home purchase affordability, and they are becoming hyper-selective. Not just any house will do. So, what does this mean for home sellers? The Tide is Turning for Sellers Gone are the days of frenzied home buying that we've seen over the last few years. The good news is that an overheated market slowing from an unsustainable rate of acceleration, does not necessarily imply a weak market by historical standards, even if the speed and scale of the change is startling. A correction is not a crash. Market corrections over the last 40 years typically ran from a flattening in appreciation, to price adjustments of 5% to 10% (relatively small compared to the appreciation rates which preceded them). Going into the second-half of 2022, sellers can expect buyers to be more cautious about making an offer on a home. Sellers need to align their mindset with the new breed of buyers and focus on delivering value. Now more than ever before, take steps to enhance your home’s appeal, make it move-in ready, and price it with laser-like precision. By delivering value to the new breed of home buyers, you can still attract top dollar for your home! June Market Report Is someone you know, ready to move?  Let me know - I can help. marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - July 2022 Report

marketingcenter-sfbayarea-sfcityproper

Celebrate the red, white and YOU

The first half of 2022 has come to and end.....6 months defined by roaring inflation, equity market drops, soaring interest rates, anxiety, energy price spikes, war, deeper political divisions, diminished rights, recession chatter, you name it. Thankfully we have Independence Day to celebrate and lift our mood.   Below are a few options for this holiday weekend: "So Happy Together" is the them of this year's Marin Country Fair, running now through Monday, from 11AM - 11PM daily. This year's fair features unicyclists, jugglers, stilt-walkers, carnival rides, animals of the Barnyard, Global Marketplace, fireworks over the Civic Center’s Lagoon Park, live concerts, and more!  Throughout the weekend, free concerts will also be held at Stern Grove, San Francisco Giants Stadium and Oakland Athletics Stadium. San Francisco Hot Dog Contest While waiting for the main event, enjoy the free live music concert at the Aquatic Park at 6 PM or drop by the Fourth of July Pub Crawl on Austin Street, next to El Lopo on Polk Street where the San Francisco Hot Dog Contest will take place at 7:30 PM. Where to watch fireworks Fisherman’s Wharf Fisherman’s Wharf will host a fireworks event beginning at 9:30 p.m. for approximately 90 minutes. Crissy Field With the Golden Gate Bridge to your left, fireworks show to your right, the SF bay in front, and the rest of the city at your back, Crissy Field is the spot to catch the fireworks show with serene views surrounding you. Twin Peaks Twin Peaks offers high-elevation views of both the city and San Francisco Bay, including a view of the fireworks display with the city lights shining right before it.  Cruises If you'd rather watch fireworks from the water, there are several cruise options. Or you may prefer to just stay home Regardless of how you choose to celebrate, here's to Independence Day and the rest of 2022! 🥂 Cheers, Maggie marketingcenter-sfbayarea-sfcityproper

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

San Francisco Real Estate - June 2022 Report

Maggie Visser DRE #: 01925742 M: 415.793.3470 maggie@maggievisser.com www.maggievisser.com marketingcenter-sfbayarea-sfcityproper

Even the hottest markets eventually cool

As of May 5, mortgage rates were up 69% in 2022, and the scale and speed of the increase make it difficult to predict precise effects; inflation is at a 40-year high; the S&P 500 is down 14% and the Nasdaq, 22%.  Escalating interest rates initially fueled demand in early 2022 as buyers rushed to avoid further rises, but at a certain point, big increases, especially if coupled with peak prices, batter affordability. And all buyers – even all-cash buyers – can be affected financially and psychologically by stock market declines and economic uncertainty.  The combination of swift home price growth and the fastest mortgage rate increase in over forty years is finally affecting what Buyers can and will pay The housing market is beginning to show preliminary, but not universal reactions: Fewer buyers at open houses. Fewer agents on tour. Fewer offers in general. Some buyers are dropping out or becoming more selective; some sellers are moving listing dates forward. Even the hottest markets eventually cool  This does not necessarily imply a large “bubble and crash” (terms much overused). Over the past 4 decades, a cooling shift has typically meant a gradual decline in sales activity, then either a leveling off in appreciation or price declines of 5% to 10%: More like a slow leak in an over-pressurized tire than a blowout at high speed. In SF, it appears the condo market might be seeing the first shifts in softening demand.  When hot markets shift cooler, effects are typically first reflected in reductions in multiple offers, overbidding and the number of homes going into contract; gradual increases in active listings and time-on- market; and gradual declines in year-over-year appreciation rates.  Historically, after a down cycle runs its course, the market moves into the next upcycle and home prices climb (often relatively quickly) above previous peaks. Over the longer term, past appreciation trends – magnified by tax breaks & financing options – have typically made Bay Area real estate an excellent, and often spectacular investment. Complete Market Report Is someone you know, ready to move? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - May 2022 Report

Maggie Visser DRE #: 01925742 M: 415.793.3470 maggie.visser@compass.com marketingcenter-sfbayarea-sfcityproper

Climbing the corporate ladder or El Capitan?

California has its fair share of troubles: the population declined for the first time in history in 2020. The state lost a congressional seat last year. Housing prices, homelessness and drug addiction continue to skyrocket. Tesla, HP, and Oracle are few of the high-profile companies that have relocated their headquarters. Yet, whether you're climbing the corporate ladder or El Capitan.......  The West Coast is the Best Coast - despite high taxes!  Here's some of what California has to offer: "Concert of Compassion" to aid Ukraine Join me in attending the "Concert of Compassion" to aid Ukraine on Monday, May 9th at Congregation Sherith Israel, 2266 California Street Buy Tickets Is someone you know, ready to move to the Best Coast? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper

Maggie’s Market Minute — April 2022

Spring has officially sprung and the real estate market results for Q1 are in!  Here are the latest real estate trends kicking off Q2: Strong demand, high velocity, low inventory Sales in Q1 of 2022 were robust for all property types, but the supply of single family houses was especially low. The number of active listings were down 4.4% compared to Q1 2021 and overbidding continued to climb.  However.........there's a wrinkle By the end of Q1, mortgage interest rates skyrocketed 50% since the beginning of the year, with a particularly large jump in March.   Housing (un)Affordability gets a double hit When both interest rates and home prices soar, home affordability takes a double hit. The increase in mortgage rates caused a 34% jump in monthly payments compared to Q1 2021 (outpacing the jump in housing prices).  Rapidly rising interest rates typically cool the market Housing statistics are a lagging indicator - buyers who closed in March typically locked in their interest rates in Jan or Feb. So the effects of the jump in interest rates are just beginning to filter into the market.  In the 2nd half of 2018, we saw a cooling market after a rapid rise in rates. Can we expect the same thing to happen in Q2? Complete Market Report Are you, or someone you know, ready to move to what's next? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - April 2022 Report

Maggie Visser DRE #: 01925742 M: 415.793.3470 O: 415.738.7000 maggie.visser@compass.com marketingcenter-sfbayarea-sfcityproper

Where Can Your Money Take You?

Are you in the market to buy a home and wonder where your money can take you? See below for a curated list of homes that sold in the last 30 days at different price points.  Up to $1M $1M - $1.5M $1.5M - $2M $2M - $3M $3M - $5M $5M+ Visit here for details Are you, or someone you know, ready to move to what's next? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper

The Next Big Real Estate Boom

There’s a real estate rush happening — and it’s not in SF or NYC or LA Early speculators, professional real estate agents, and celebrities are buying up land that doesn’t exist in the real world. They are investing in metaverse real estate, a concept mind-boggling to most people.    Who is investing in metaverse real estate, and why? Celebrities like Snoop Dogg and Paris Hilton are diving into the digital land grab. High end luxury fashion brands like Gucci and Balenciaga are selling digital-only clothing and accessories. Samsung recently launched a metaverse store in Decentraland in hopes to feature live music events. The Sandbox also announced multiple Hong Kong partnerships to create what's known as the Mega City in the metaverse which it predicts will become the next big cultural hub. But as of now, transactions in the metaverse segment is still miniscule compared to the amount of real estate sold in the real world. According to NonFungible.com, a platform specialized in tracking markets since 2018, there have been about 133,000 transactions in the metaverse segment in 2021. In comparison, there were nearly $6.18 million existing home sales in December 2021 according to the National Association of Realtors. How do you pay for virtual land? You need a digital wallet to buy and store cryptocurrency. Once you convert money to cryptocurrency, you can buy virtual land on various metaverse platforms. How much does it cost? The average real estate parcel in the Sandbox was worth $2,620 in mid-October. After Fakebook’s announcement of a $50M investment program to ensure the metaverse is built responsibly, that price skyrocketed to $11,042. Recently, Tokens.com bought $2.4M of virtual land and what's known as the fashion district of Decentraland. It hopes to develop properties on the land which it will then rent out to fashion companies as event and retail space. Republic Realm, another active investor in the Metaverse real estate space, spent $4.3M on virtual land in the Sandbox metaverse.  Is it risky? Real estate sales in the metaverse surpassed $500M in 2021 and is projected to double in 2022. Despite the hype around the metaverse real estate, all of this comes with risks: The virtual land that you buy may not become a popular destination in the future. The price of your metaverse real estate property relies heavily on the price of cryptocurrencies. If the price of whatever coin you use to buy real estate falls dramatically, so the value of the property, making it a highly risky investment.  Skeptics warned that putting your money in these highly speculative investments is a risk people shouldn't take lightly. Simon Powell, Jefferies' Global Head of Thematic Research said, "And say you might buy land in the Metaverse that nobody else buys land and or doesn't want to or even in the worst case scenario, you might buy land in the Metaverse that doesn't exist in the future." Mark Stapp, Professor at the Arizona State University said, "If it continues the way it's going to be it is most likely going to be a bubble. You're buying something that isn't tied to reality. It doesn't make a lot of sense except it may satisfy somebody's desire  to participate in some gaming activity. So, is the Metaverse real estate boom the next big thing or is it the latest bubble ready to pop? Read more on CNBC Are you, or someone you know, ready to move to what's next (real or in the metaverse)? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper

Maggie’s Market Minute: An “Insider Snapshot”

So far in 2022, Bay Area real estate markets appear largely unfazed by higher interest rates, volatility in financial markets, and troubling international events.  The prevailing dynamic remains the same Strong buyer demand competing for an inadequate inventory of listings for sale: crowded open houses, multiple offers, fierce overbidding, and fast sales remain common, especially for houses.   Here is an “Insider” snapshot of a few select houses All this exuberance is not to say there hasn't been some fallout There haven't been buyers negatively impacted by higher loan rates and/or recent declines in stock portfolios; and some buyers and sellers have become more hesitant or paused their plans, awaiting more clarity amid recent developments. But not enough to move the needle on the fundamentally high-demand/low-supply conditions which dominated 2021. There's good news for buyers As typical at the start of the year, the number of new listings coming on the market and the number of listings going into contract continue to rise. These normally climb rapidly through spring, characteristically the biggest selling season of the year.  For a complete market report, please visit this link. Are you, or someone you know, ready to move to what's next? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - March 2022 Report

Maggie Visser DRE #: 01925742 M: 415.793.3470 O: Enter Office Phone maggie.visser@compass.com marketingcenter-sfbayarea-sfcityproper

Maggie’s Market Minute: February 2022

2021 was one of the most frenzied real estate markets ever, with home price appreciation trends reflecting a severe imbalance between supply and demand. As is the normal seasonal trend, we experienced very low sales volume in January as a result of a substantial drop in listings mid-November through early January. What’s in store for the rest of 2022? Below are a few economic indicators that could have an impact on the real estate market. Doom and gloom? Employment, GDP, and household-wealth indicators are quite positive; by historical standards, interest rates remain very low and stock markets very high; and COVID infections are falling fast. The Bay Area is home to many of the world’s most innovative and successful companies; there is an enormous concentration of local wealth; and a staggering amount of money sloshing around the economy looking for somewhere to invest. Many believe real estate to be an excellent hedge against inflation, and an excellent long-term investment generally (heightened by tax advantages). 2022 started off very strong The number of new listings for sale is at the highest level since 2010. ……but what comes on the market sells very quickly. Demand has become so strong, and the listings have sold so fast for so long……… We have a velocity issue  So if you're in the market to buy, it's now more important than ever to get your financing sorted out if you'd like to compete. For a complete update on market activity, please click this link.  Are you, or someone you know, ready to move to what's next? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE: 01925742 M: 415.793.3470 maggie@maggievisser.com marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - February 2022 Report

Maggie Visser DRE #: 01925742 M: 415.793.3470 O: Enter Office Phone maggie.visser@compass.com marketingcenter-sfbayarea-sfcityproper

6 Hottest Neighborhoods in the City

6 Hottest Neighborhoods in the City San Francisco has a diverse real estate market, with certain neighborhood experiencing bigger demand than others. Here are the 6 neighborhoods that had the highest overbidding in 2021 (Sales Price vs List Price Ratio) Curious about your neighborhood values? Click on the map below.  Are you, or someone you know, ready to move to what's next? Let me know - I can help. Keep well, Maggie Maggie Visser Top 4% SF Realtor DRE #: 01925742 M: 415.793.3470 maggie@maggievis marketingcenter-sfbayarea-sfcityproper