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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San Francisco Real Estate - March 2023 Report

Maggie Visser DRE #: 01925742 M: 415.793.3470 maggie.visser@compass.com

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multi­county metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate. Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis. 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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“Sometimes when you’re from a place it’s hard to see how cool it is.”

“Sometimes when you’re from a place it’s hard to see how cool it is.” -Amy Alipio

If you’re like me, you may sometimes find yourself feeling frustrated and disheartened by what you see happening in the city. Well, National Geographic just named San Francisco on its "Best of the World" list of “25 breathtaking places and experiences for 2023.” SF was included due to the opportunities it offers for families to enjoy nature within an urban environment, such as the Crosstown Trail and Presidio Tunnel Tops.

Despite being known for having more dogs than kids, the city is a great place to raise a family and this ranking provides further proof of that.

Are you, or someone you know, ready to move to this cool city? 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’s hottest neighborhood: "Cerebral Valley"

SF's Hottest Neighborhood

Have you heard of Cerebral Valley – the City’s newest (old) neighborhood that is quickly becoming the hottest place to be? The area located near Alamo Square is filled with historic Victorian homes that is being transformed into informal hubs for artificial intelligence (AI) enthusiasts. These "hacker houses" are fully inclusive communities that offer co-living and coworking spaces for AI employees, reminiscent of the tech industry's origins when startups operated out of garages. This trend has become so popular that the neighborhood formerly known as “Hayes Valley” is now colloquially known as "Cerebral Valley." People are moving back to the city to be part of a community again….. Many former employees of big tech companies who have recently lost their jobs are now turning to AI communities and hacker houses instead. They are disillusioned with big tech's corporate offerings and are looking to launch new products while being a part of a like-minded founder's community. According to Sofiia Shvets, the CEO of Claid.AI, there is now more excitement and speed in the industry, with more hacker houses appearing, events starting again, and people moving back to the city to be a part of a community. Hayes Valley has something for everyone This once-forgotten neighborhood is now grabbing its share of the spotlight with an eclectic mix of art, culture, upscale fashion & jewelry boutiques, homeware, quirky bookstores, wine bars, and a bustling food scene. Whether you’re in AI or not, if you’re looking for a unique and charming neighborhood, Hayes Valley has something for everyone.

Are you, or someone you know, ready to move to Hayes Valley (or somewhere else)? 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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San Francisco Real Estate - February 2023 Report Link

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multi­county metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate. Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis. 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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6 Reasons Q4 '22 Was the Bottom

"For the first time in 10 months, all the statistics I look at are trending positively." - Compass CEO Robert Reffkin, CNBC Watch CNBC Clip Here 6 Reasons why Compass CEO, Robert Reffkin, believes Q4 of 2022 was the bottom of the recent real estate market cycle 1. 25% increase in weekly mortgage applications. 2. Mortgage rates continue to move down to a 4-month low. 3. Increase in buyer interest, open house traffic, and offers. 4. In the last quarter of 2022, 42% of sellers were giving concessions to buyers at the closing table, a 10-year high. 5. Home builder sentiment improved for the first time in 1 year. 6. Pending closings were down 30+% at points in the fall but over the last few weeks, we have seen pending listings in most of our markets nearly flat year over year.

2022 Year in Numbers What an incredible year it has been! I made it into the top 3% of SF agents based on volume. I couldn't have done it without the support of my family, friends, and clients who continue to entrust me with their real estate needs. THANK YOU! My 2022 Transactions

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 | 2023 off to a bright start

Happy Lunar New Year! I hope you made it through the storms without leaks or water damage. Hopefully you're dry, but if you need any recommendations for roofers, plumbers, heating specialists, etc, I can help! As you know, the market slowed down in the 2nd half of 2022, inflation shot up to 9.1%, the FED raised interest rates repeatedly, lenders tightened up, mortgage rates followed suit, and buyers became lot more conservative with their offer numbers and terms.  Below is a summary of how we closed out 2022.   Q4 2022 vs Q4 2021  For a detailed report, please click on the Flipbook below. 2023 is Off to a Bright Start I can see clearly now the rain has gone🔆and with that, the year seems to be off to a bright beginning. Inflation is trending down, mortgage rates have decreased (hovering in the 5% range), inventory is low and buyers are out in full force. It seems like the velocity is trending back up.  The latest pulse: competitive bidding, properties that were overlooked last year getting into contract, multiple offers and even some going into contract before hitting the market.  Buckle up and enjoy the 2023 ride! If you paused your home search last year, or you didn't think it's a good time to sell, I highly encourage you to check in with me for hyper local feedback and advice. Cheers! Maggie marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - January 2023 Report

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multi­county metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate. Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis. 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.

marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - December 2022 Report

Statistics are generalities, essentially summaries of widely disparate data generated by dozens, hundreds or thousands of unique, individual sales occurring within different time periods. They are best seen not as precise measurements, but as broad, comparative indicators, with reasonable margins of error. Anomalous fluctuations in statistics are not uncommon, especially in smaller, expensive market segments. Last period data should be considered estimates that may change with late-reported data. Different analytics programs sometimes define statistics - such as "active listings," "days on market," and "months supply of inventory" - differently: what is most meaningful are not specific calculations but the trends they illustrate. Most listing and sales data derives from the local or regional multi-listing service (MLS) of the area specified in the analysis, but not all listings or sales are reported to MLS and these won't be reflected in the data. "Homes" signifies real-property, single-household housing units: houses, condos, co-ops, townhouses, duets and TICs (but not mobile homes), as applicable to each market. City/town names refer specifically to the named cities and towns, or their MLS areas, unless otherwise delineated. Multi­county metro areas will be specified as such. Data from sources deemed reliable, but may contain errors and subject to revision. All numbers to be considered approximate. Many aspects of value cannot be adequately reflected in median and average statistics: curb appeal, age, condition, amenities, views, lot size, quality of outdoor space, "bonus" rooms, additional parking, quality of location within the neighborhood, and so on. How any of these statistics apply to any particular home is unknown without a specific comparative market analysis. 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 - 34 active listings priced at $10M+

The housing market and economy remain in a period of adjustment, and rising interest rates in early Fall caused many buyers to be more cautious as they wait to see how things will settle.  Below is a brief synopsis of how these factors played out in October: Market Summary Home sales are down 38% YoY (the fewest number of transactions since 2011) Single-Family House Median Sales Price is down 7% YoY ($1,680,000 – about where prices were in Jan 2021) Condo Median Sales Price is down 4% YoY: ($1,215,000 – about where prices were in Jan 2021) District 9 vs the rest of SF District 9 neighborhoods (South Beach, Mission Bay, Inner Mission, Dogpatch, Potrero Hill, and SoMa) seemed to be impacted disproportionately more than other districts with longer days on market and low sales volume. A possible explanation is that most of these neighborhoods have office buildings and reports of homelessness. The number of condo sales in all of SF (except D9) is down 39% YoY, while the number of condo sales in D9 is down 52% The median condo sales price in D9 is down 14% YoY Luxury Home Sales Luxury ($5M+) home sales are down 43% YoY There are currently 85 active listings priced at $5M+ on the market (see below the breakdown by price segment). 34 of these are priced at $10M+.    Check them out by clicking the link below 👇 San Francisco Luxury Homes The next 2 months The market now enters a 2-month holiday period which typically see new listings and the number of listings going into contract plunge, and listings that have not sold yet undergo price reductions or get pulled off the market. There will likely be even larger discounts as we brush up against the holidays – so if you’re on the fence about buying, get your financing buttoned up (mortgage rates just had the biggest weekly drop since 1981!) and start to write low-ball offers on properties that have been on the market for a while. Complete Market Report Are you, or someone you know, ready to move? Let me know - I can help. marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - November 2022 Report

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Halloween tricks to navigate a SPOOKY housing market

Upward spiraling interest rates, volatile financial markets, a looming recession, mounting tech layoffs.… the perfect concoction for a spooky housing market. Given all these head winds, it seems natural to be fearful when you’re embarking on one of the biggest financial transactions of your life - buying a home.  Here are a few tricks to help you navigate the market: By knowing what you are really worried about, you will be in a better position to adapt. For example, are you worried that your house may lose value after you buy, consider that ………. a drop of 20% in median sales price from this year's Q2 record peak would take us back to Q3 in 2020. In those terms, such a fall may seem reasonable to many. What we’ve experienced in the housing market for the past two years was not normal.  As the market adjusts and normalizes, it may be unpredictable on a day-to-day or week-to-week basis. However, over 5-10 years these downturns become blips on the screen. Nothing is permanent - even a drop in price is likely to wash out over the next few years. The best investors seek long term returns instead of aiming to time markets 'perfectly'.  How long you plan to own and/or live in a property matters more than the price and terms you pay today. So focus on the long term. All markets recover and over time, home prices have increased. The US is still grotesquely under-built.... possibly slowed now as builders face higher borrowing costs.... which could fuel future home price inflation. With interest rates that have doubled since the beginning of the year, evaluate all your financing options. A 30-year fixed mortgage may not be the best fit. Discuss with lenders what programs they have, including rate buy downs, adjustable rates, and “no lender fee” refinancing (if a recession is indeed coming the FED usually lowers rates to stimulate growth). It is entirely possible that renting and waiting for prices to fall could ultimately cost you more even if you do pay less for the house in the future. In the current market, over-bidding has greatly reduced. By not over-bidding those saved dollars may absorb some higher borrowing costs. Focusing on the best quality is always smartest. And now you may have more choices. Buying a quality home for a fair price is always smarter than a bargain price for a bargain. During fearful times, going against the herd mentality of 'wait and see' often produces excellent opportunities...... a market that’s normalizing and a Fall selling season that’s ending mean that buyers can get great deals from eager sellers who want to sell their properties before the year ends. Markets don’t stop.  For many homeowners, objectives such as lifestyle, location and longer-term equity growth are more important than waiting for unknown future market movement to occur.  So, the best time to purchase a home is whenever you can afford it. Are you, or someone you know, ready to move? Let me know - I can help. marketingcenter-sfbayarea-sfcityproper

Success comes with a price.......(and a strategy)

If recent headlines about a cooling housing market and diminished buyer demand have you worried that you’ve missed your chance to sell, here’s what you need to know: People are still buying homes. There are a lot of buyers out there looking for the perfect home. When they find the perfect home, they are willing to pay for it! Need proof? Here’s a success story from one of my transactions that closed this week: 2611 Filbert St List Price: $5,595,000 The sellers received a very strong pre-emptive offer after 1 weekend on the market. However, with multiple interested parties, their strongest negotiating position was to hold off on accepting that offer and instead give everyone a chance to come to the table.  Their patience paid off.  The result: 4 offers Sales Price: $6,550,000 $955,000 above the asking price and WAY above the initial offer! Remember: real estate is hyper localized, even within markets and neighborhoods! While things have cooled a bit, demand for “good homes” that are well prepared and nicely presented are still very high. If you work with a savvy agent who understands negotiating and the nuances of a hyper localized market, your home should sell quickly.  Are you, or someone you know, ready to move? Let me know - I can help. marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - October 2022 Report

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The Last Quarter

As September comes to an end, we are adjusting to 'new normals' around sales prices, homes staying on the market longer, inflation, sharply higher interest rates and the threat of a deeper recession. As we navigate this, the biggest challenge is that we are still in the midst of big changes. The only certainty in life and markets is ......change We all knew that the era of super-low rates would end…...but the changes happening right now are happening rather fast. We live in roller coaster times.  So how might things play out in the final quarter of 2022?  1. I expect the FED will continue its policy of higher rates. They were slow to raise rates and they will be slow to see the full impact of these higher rates. 2. Buyers will be obsessed with "what if" mentality: if they wait, will prices come down further? Smarter buyers will rather use this moment of uncertainty to negotiate thereby having the opportunity to focus on quality, not just price. There is one thing worse than buying a bargain: owning one! 3. Sellers will adjust their expectations and lick their wounds by not having sold at a premium when they could have. They will still do very well but will have to be far more patient. Many will offset 'losses' if they are buying something else.  4. Inventory levels will increase, but under-building, trillion dollar infrastructure building, repairs and replacement are almost certain to make construction costs continue to rise. 5. The threat of a global recession may push down the prices on many things (energy may be the outlier). Bergdorfs and Neiman Marcus are already discounting ....in September!) Might we even see some deflation? Investors are waiting for one key moment The day the FED pauses interest rate hikes. At that moment we may see a surge in all markets...…including real estate. Markets like some clarity. That day is coming...… Are you, or someone you know, ready to move? Let me know - I can help. Cheers! Maggie marketingcenter-sfbayarea-sfcityproper

Saying goodbye to summer....

The housing market peaked in May, kicking off a summer that was characterized by interest rates hikes, wild stock market fluctuations, and (almost) everyone vacationing in Europe………a season that left us both happy and weary at the same time.  Let’s recap what happened: Increased interest rates and stock market misery weakened home buying power Buyer activity decreased = less competition + lower sales prices Home price appreciation rates and overbidding dropped Price reductions increased The number of days listings stay on the market increased The number of new listings dropped Below are the numbers: In early August, the market perked up for a split second after interest rates dropped and the stock market recovered dramatically. However, in early September interest rates increased again and stock markets declined once more – continued short term volatility that makes predicting movements and the effects on the real estate market difficult.  Summer may officially end in about 2 weeks, but the effects may last a bit longer.  Complete Market Report Are you, or someone you know, ready to move? Let me know - I can help. Cheers! Maggie marketingcenter-sfbayarea-sfcityproper

San Francisco Real Estate - September 2022 Report

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Swept off my feet.......

I just returned from spending a few days in Chicago after dropping my daughter off at college. It’s been while since my last visit and during that time I was single-mindedly focused on running the Chicago marathon and nothing else. This time I was just a tourist soaking in all the sights and sounds of the city. Admittedly the bright blue skies and near-perfect weather may have influenced me a wee bit..........as I fell head-over-heels in love. So, what was it that swept me off my feet?  1. Urban design: the city perfectly blends art and architecture, historic preservation and new construction, work and leisure, pedestrians and bikes, cars and public transportation.  2. Downtown was buzzing with office workers (!!), locals, and tourists alike – at concerts in Millennium Park, in restaurants and bars, on boat tours, in shopping malls and theaters. 3. Chairs and benches to sit, congregate, meet and greet neighbors and visitors.....all designed for human interaction. 4. The streets were lined with perfectly maintained trees and flower boxes dotted the stunning architecture. 5. Flattering street lighting. Not only were the fixtures attractive, but the lightbulbs used were of a color that did not evoke that 'night of the living dead' we see all too often in public spaces.  6. The city is clean, notably absent of trash, tents, feces, open-air drug use and graffiti. 7. Tastefully appointed stores were immaculately clean, perfectly stocked, with friendly staff, and the type of merchandise everyone needed and wanted.  8. T he people were so nice. I could go on.........  Naturally we cannot - and should not - copy Chicago, but we can certainly learn a few lessons from them. Are you, or someone you know, ready to move? Let me know - I can help. Cheers! Maggie marketingcenter-sfbayarea-sfcityproper

Be greedy when others are fearful?

Many buyers feel that waiting for prices to go down more in this "uncertain market" may deliver the one thing almost every buyer dreams of….. A Bargain!  Whilst the view from the sideline may seem safest, there is a lesson to be learned from the big institutional real estate investors.   Blackstone recently secured over $50 billion for opportunistic real estate investments across the globe. This is just one example of this type of institutional money on the sidelines waiting to pounce. There are many others, all loaded with billions of dollars, waiting to buy real estate.   Do I agree with having large institutional, cash-rich investors - not just Blackstone - outbidding and competing with first time home buyers? That's a whole other story. But today I want to focus on why these companies see opportunity while others may not. BIG MONEY views the BIG PICTURE While others freeze up in times of uncertainty, Blackstone is being proactive, seeking out opportunity. And preparing for it in advance. While others react, Blackstone ACTS. They are looking at the big picture, long term, not focused on short term bumps. Blackstone possibly sees value in even slightly discounted buys...why? They fully understand replacement cost. Something built 3 years ago would probably cost 20-25% more to build today.  This almost automatically implies long term upside. Blackstone looks at data: the data shows massive under-building. Under supply that takes years to resolve almost certainly guarantees future upside as demand will outstrip supply for many years to come. Blackstone is a committer. And yes, they may be taking advantage of those who fear commitment. Those people do so at their own peril.  Maybe knowing all this, you may not wait as long as some seeking prices to go lower, lower, lower..... If Warren Buffett sees enormous opportunity in buying stocks at "15% off discounts", I think you have the answer.  "Be fearful when others are greedy, and greedy when others are fearful.”  -Warren Buffett Are you, or someone you know, ready to make a move?  Let me know - I can help. marketingcenter-sfbayarea-sfcityproper