SF Rentals During COVID: Tips and Perspectives for Landlords

If you own rental property in San Francisco, don't miss this critical advice and perspective from Tony Harkins, founder of Tower Rents in San Francisco, who has seen what economic crisis does to the market.

Acceptance is where the power lies

Last month, my sister in law was diagnosed with COVID-19. She and my brother live in the Netherlands, a country that (at the time) had 3,000 ventilators for 16 million people. Things became very, very real to my family on the day we learned she was sick. The fear and anxiety we experienced during her illness -  breathing problems, fever spikes and blinding headaches for 13 days - were sobering. While she has thankfully recovered, we continue to feel some echoes of that time, the feelings of which have been difficult to pinpoint. Psychology suggests that if people are able to give a name to their feelings, it’s easier to manage them. As time drags on in our fourth or fifth week of sheltering-in-place, we’re all experiencing loss: of jobs, sanity, sobriety, productivity, a sense of safety or peace... but loss is really just the beginning. That discomfort you’re feeling? It’s grief. Author and mental health professional David Kessler suggests that what we’re experiencing is actually a kind of grief – and, like most intense experiences, there are stages to how we respond.  Denial, disbelief, bargaining with the circumstances –and of course, our eventual acceptance – are all part of this journey. We need reminding that they don’t happen in a linear fashion. Each day, we may feel something different, be in a different stage. We can find control in acceptance. On days I wake up and accept this reality: I can use this experience to reboot my life, seeking inspiration and creativity in unexpected places.  I can acknowledge that I am alive and healthy and feel gratitude from the moment I wake up.  I can control how I spend my time.  Time is a luxury and full of possibilities. I can choose to explore my curiosities and learn new skills. I can choose to explore how I work, what works for me.  Wishing you a day of acceptance,  and through that, something positive  (maybe even joyful)! Maggie Visser Top 4% SF Realtor DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

When Home Becomes Everything

This time we’re spending inside will forever change our concept of home. It’s possible that we are living through the biggest shift in the relationship between people and their homes since the 1950s. Then, it was the wide-sweeping American Dream of homeownership becoming real. Now, I predict the shift will be about a sense of possibility.  Our homes have become everything. Home is now where we live... and work... and eat… and sleep… and exercise… and relax… and stress out… and play. Living rooms have become classrooms, exercise studios, and virtual meeting rooms. Kitchens have become restaurants, science labs, and boardrooms. Bedrooms have become offices, infirmaries, and playrooms. Home is now where we shelter in place. Home is where we stay to keep ourselves safe, and keep our families safe and keep our communities safe. When home becomes your everything, the idea of what home should be becomes exponential. It’s still a place of belonging and security, but it’s also become a place of endless possibility. Being forced to make our homes full-service, multi-purpose spaces where all of life happens all at once is… a lot. But it’s also enlightening. Have we already shifted perspective? When this is over, what versatility will we be thinking about when we look at a home? Will we be thinking about its life-saving powers, like we are now? What scenarios will we be preparing for? What will words like “comfort” and “safety” and “community” mean to us? What dreams will we be dreaming and what futures will we be planning for? The future is unknowable, but I do know this: A home that provides a sense of belonging, a sense of security and a sense of possibility will be more important tomorrow than ever before. Stay strong.  Stay healthy. Stay home. Maggie Visser DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

How Mortgages Could Be Affected by the Coronavirus Pandemic

I chatted with mortgage and lending expert Rob Spinosa about changes to the mortgage and financing landscape, and how buyers can do to secure a reliable mortgage during the COVID-19 epidemic.

April 2020 Real Estate Market Update

San Francisco Real Estate  & the Coronavirus April 2020 Report ------------ The first thing to remember is that there is a time lag - usually 3 to 6+ weeks - between a new listing coming on market, an offer being negotiated and accepted, and when the transaction actually closes sale. This means that almost all of the sales price data we have, as of the first week of April, still reflects the market BEFORE the shelter-in-place rules went into effect. In virtually all Bay Area counties, first quarter and March median sales prices were quite strong.  This report will look at the effect of the crisis on supply and demand by reviewing week by week statistics, sales price trends reflecting the market before the crisis, and longer-term trend data to give context to how the market typically performs at this time of year. Spring is usually the most active selling season and often sees the highest median sales prices of the calendar year, due to both the level of buyer demand and the seasonal surge in the luxury home market. (A higher percentage of luxury home sales pulls up the overall median sales price.) We do not know how the crisis will ultimately play out, depending as it does on so many, rapidly changing, socio-economic factors.  Shelter-in-Place Effect on Inventory & Deals  - by Week The following 4 charts detail the plunge in listing and accepted-offer activity, and the surge in listings being pulled off the market by sellers, over the past 4 weeks. Typically, at this time of year, the first 3 charts would be seeing steady climbs over February numbers, and the 4th chart would have a very low, flat trend line.  Though the numbers are way down, some listings have still been going into contract. The Luxury Home Market The luxury market is fiercely seasonal, and typically spring (Q2) sees the peak in annual sales volumes. Higher-price home sales are often more deeply affected by financial-market crises since affluent households tend to have more wealth tied up in the markets, and watch their movements more closely.  These next 2 charts look at weekly trends in the markets for homes of $2.5 million+ and of $5m+. Normal Market Seasonality Trends  These 2 charts illustrate how seasonality typically affects supply and demand, both climbing rapidly from the beginning of the year through late spring.  Maggie Visser DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

Let's Make Kindness Contagious

It’s been wild to experience the rapid changes in our community over the past few weeks. While it’s immensely difficult in many ways to live this new (hopefully temporary) lifestyle, I am doing my very best to focus on the positive outcomes of these unusual circumstances. It’s difficult to work right now since we’re all sheltering-in-place, so instead, I’ll try to contribute to our collective wellness by sharing a positive perspective. If you need that today, I hope it helps. Kindness is contagious. My neighborhood is vibrating with kindness. When I walk my dog, I see people chatting (at a distance), sharing ideas for occupying young children or working more efficiently from home. Strangers wave more than ever before and so many smiles are traded as I pass others on my morning run (at a distance).  This common experience is powerful. If we let it, it will bring out our empathy and a desire to help each other. Let’s get swept away in it. Kindness is spreading – if we each “infect” just a few people, we’ll definitely outpace COVID19. The next pandemic: People doing the right thing. Over 40,000 retired medical professionals responded to a call for reserve personnel in NYC to help stem the spread of COVID19. Designer Christian Siriano halted his label’s production, devoting all resources to producing quality masks for healthcare workers. Gap recently followed suit, producing masks and scrubs. Louis Vuitton converted their fragrance labs to manufacture hand sanitizer. Thomas Keller launched a relief fund for his 1,200 furloughed employees and their families.  The Coca Cola Corporation has diverted 100% of their advertising budget in the Philippines to the provision of protective equipment for health workers and food to vulnerable families. Every day, people and companies are banding together in ways we’ve never seen. It’s a relief to see so many do the right thing. A cure for what ails you? What do you need today? Advice, ideas, inspiration, recommendations, a shoulder to cry on, or can I pay for a 1-month digital membership to the new SFJAZZ streaming concert series taking place Fridays at 5 PM?  I am here to help bring music to your ears, or advice – real-estate-related or otherwise.  Mindset is the cure for what ails us these days, so if I can help, let me know. Maggie Visser DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

What the CARES Act Means for you

As we're all dealing with the effects of COVID-19 on our lives, I want to share encouraging news: the government has  approved the $2 trillion Coronavirus Aid, Relief and Economic Security (CARES) Act which will help millions of people in this critical time. Perhaps even you. This sweeping legislation is unprecedented in the history of our nation and provides significant economic assistance to address the impact of COVID-19.  The CARES Act is over 800 pages long, but here are some of the economic provisions most relevant for you. What this means for you  and your loved ones If you're eligible for a cash payment  Most individuals earning less than $75,000 can expect a one-time cash payment of $1,200. Married couples would each receive a check and families would get $500 per child. That means a family of four earning less than $150,000 can expect $3,400. If you or someone you know has a lost a job States will still continue to pay unemployment to people who qualify. This bill adds $600 per week from the federal government on top of whatever base amount a worker receives from the state. That boosted payment will last for four months.  If you're a small business owner The bill provides $10 billion for grants of up to $10,000 to provide emergency funds for small businesses to cover immediate operating costs. There is $350 billion allocated for the Small Business Administration to provide loans of up to $10 million per business. Any portion of that loan used to maintain payroll, keep workers on the books, or pay for rent, mortgage and existing debt could be forgiven, provided workers stay employed through the end of June. If you're a freelancer or independent contractor Typically, self-employed people, freelancers and contractors can't apply for unemployment. This bill creates a new, temporary Pandemic Unemployment Assistance program representing $600 per week through the end of the year helping people who lose work as a direct result of the public health emergency. If you would like to learn more about all the contents in the CARES Act, please see this article. Please do not hesitate to reach out should you have any questions, or if you would like to chat. Stay safe and healthy. -MV Maggie Visser DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

Maggie's Musings: Don't waste these difficult days

"Don't waste these difficult days," Pope Francis advised earlier this week. He encouraged all to  make the most of the crisis by re-discovering the joy of family  while confined at home. It's my hope that we can all apply this to our present experience in some way. We will hear lots of noise in the next few weeks, but enough of that, already. There will be lots of doom-and-gloom messaging. There will be political in-fighting. The equity markets will soar one day and sink the next.  But I'm not in your inbox to contribute to that :) This is just a moment in a lifetime – a bit extraordinary, sure, but a moment nonetheless. I truly believe it's of more use to us to focus on what sustains us: Hope. For every trial we're navigating, something else remarkable and good is happening. As all-encompassing as the COVID-19 pandemic has become, it seems highly likely we will prevail quickly. The global outpouring of scientific evidence suggests we should arrive on the other side of this disaster much more swiftly and successfully than if we had simply surrendered to it, accepting what might have seemed inevitable. Consider this: As recently as last week, none of us had heard of “social distancing” as a medical prescription. Today, we’re enacting it worldwide. It may not be obvious while we’re in the thick of it, but right before our eyes, the human race is making miracles happen.  If you need hopeful thoughts during    the next few weeks, remember: ONE DAY SOON.... We will have mass testing, containment, recovery, and then – a vaccine. As a result of this time, governments around the world will have discovered ways to more efficiently implement life-saving civic policies. We will reap the benefit of our fellow human beings working together, helping those in need to get back on their feet. We will emerge smarter, better educated, more prepared, more appreciative of all that we DO have as opposed to what we don't have. Our lives will return to 'normal', and we will appreciate it - and our health - that much more. There is always hope. Always.  Maggie Visser DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

The Word of the Day is “Tumultuous”

Well, this is certainly shaping up to be a strange moment in time, isn’t it? Between a burgeoning epidemic, a shaky economy, and a supercharged political climate, it’s hard to imagine more unpredictable circumstances to be facing.   Rather than pontificate on what might be, I’ll just say this: There’s little we can do to change what’s happening around us, but we can choose to take care of each other, be cautious, and of course – wash our hands. :) The Word of the Day is “Tumultuous” The craziness doesn’t end with epidemiology and the Democratic primary – those could share top billing with the ever-escalating competition for houses in San Francisco. With mortgage interest rates hitting all-time lows, advised “social distancing” had zero impact on open house attendance in the sub-$2MM category this past weekend. Agents reported attendance between 50 - 100 prospective buyers for a single listing.  This isn’t new, rather a sustained demand that has many houses selling for inexplicable highs – comps have proven to be less and less predictive.  To give you a sense of how perplexing things have become, here’s how a few recent scenarios have played out: 366 Chenery (Glen Park) 2 bed, 1 bath, parking for 1 Listed: $1.395M Buyer interest:  12 offers Sold: 25%+ over asking (in contract) 135 Buena Vista (Corona Heights) 1 bed, 1 bath, parking for 1 Listed: $899,000 Buyer interest: 7 offers Sold: 20%+ over asking (in contract) 1370 Valencia (Mission) 2 bed, 2 bath, parking for 1 Listed: $1.195M Buyer Interest: 8 offers Sold: $1.501M 91 Whitney St (Glen Park) 2 bed, 2 bath, parking for 1 Listed: $1.295M Buyer Interest: 9 offers Sold: $1.635M ...But You Can Control How You React (It’s Not Hopeless, Buyers!) If you’re considering selling, this is (clearly) still a good time to do so. If you’re a buyer, not all is lost! Interest rates are at historically low levels. The lion’s share of offers are financed and there are ways you can be competitive even if you aren’t coming to the table with an all-cash offer.   I’m always happy to help strategize and explain how – reach out any time. Maggie Visser DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

8 Things to Consider When Making an Offer on a Home in SF

The SF real estate market is as competitive as it gets – know what considerations are in play can make your offer more competitive and protect you from buyer's remorse.

January 2020 Market Update

San Francisco Real Estate January 2020 Report ---------- Generally speaking, after years of high appreciation rates, annual 2019 Bay Area median home prices went down a little bit, went up a little bit or basically remained unchanged as compared to 2018. SF hit new quarterly price highs in spring of 2019 (amid all the IPO excitement), but ended up the year at about flat for houses and a little up for condos. (Since there has been so much new luxury condo construction in recent years, year-over-year median price comparisons may not be exactly apples to apples.) For 2020, economist Ken Rosen at UC Berkeley has said he expects the Bay Area median price to remain basically flat, within a general range of up or down 2% - in other words, similar to what happened last year. We can’t predict the future, but that certainly doesn’t sound unreasonable, and happily avoids the sensationalism of many other media-grabbing forecasts. One of the big factors in SF house price appreciation since 2012 has been that fewer house owners are selling (dark green portion of chart below). If demand increases, but supply drops, that puts upward pressure on prices. Overall, house prices have out-appreciated condos over the past 7 years due to 2 factors: All the new condo construction and the fact that condo owners sell their homes more often than house owners. Both those factors increase supply to help meet increased demand. San Francisco Home Prices by Neighborhood Below are just two of the updated tables in our much longer analysis of home prices by property type and bedroom count for every neighborhood in the city. If you'd like the complete report, please let me know. San Francisco Luxury Home  Markets by District  Economic Factors Affecting  Real Estate Markets  Maggie Visser DRE #: 01925742 415.793.3470 maggie.visser@compass.com © Compass 2020 ¦ All Rights Reserved by Compass ¦ Made in NYC 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 presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity.

20 Real Estate Trends in 2020

This is a list of 20 trends I see happening in real estate in 2020....although it is to be noted how many predictions seem to be wrong these days....

1.  The first half will be busy. The second half will be distracted by the Presidential Election.

2.  San Francisco prices will be flat or slightly up from 2019.

3.  The supply of homes will remain low and demand will continue to be high.

4.  Properties that check all the boxes will continue to garner lots in interest with multiple bids and selling over asking. 

5.  Winning offers will have more contingencies compared to what we have seen in the last decade. 

6.  Both under-priced listings, when the seller is not willing to sell at the listed price, and overpriced listings may take longer to sell, and often only after price adjustments. 

7.  Sellers will expand on home improvements before selling as buyers become less inclined to buy homes that need work. 

8.  Mortgage rates will remain low but could come under pressure as rising energy costs and wages trigger inflation.

9.  Climate change is now a buying factor. In high risk areas, fire and flood insurance policies will continue to rise, or insurers may stop providing insurance altogether, which means it will be nearly impossible to secure a mortgage in those areas.

10.  Recovery Technology: recovering from storms, floods, fires, etc will require technology to speed things up and minimize damage and disruption.

11.  Urban migration will continue as walkability increases in desirability. However, suburban migration will expand due to affordability concerns, especially for millennials.

12. The trend of people moving outside California to cheaper states will continue to get bigger with economic strains that are making it harder to afford living here.

13. The shortage of affordable housing options will expand. Smaller, more affordable homes will have extreme competition from first-time buyers, investors, and down-sizing baby boomers.

14. The lower end of the market will see the most price increases due to limited inventory and high demand.

15. Buyers will seek homes scaled to their needs, avoiding homes with rooms and features they are almost certain will never be used.

16. Sharing amenities and services will grow in popularity. The need for granny flats or accessory dwelling units will grow to accommodate aging parents....or aging kids.

17. Sustainability will become even more of a focus, reducing waste and being more environmentally responsible. Because we care about the future of our planet AND to reduce ownership costs.

18. Smaller towns and suburbs will city-fy in their attempts to keep people from moving to more urban areas. Urban areas will attempt to create more of a village feel to prevent suburban flight.

19. Bigger, taller: expect zoning laws to be modified to allow more building density to bring down housing costs and reduce commutes.

20. A US-China Trade deal may lower the cost of some building supplies, offsetting rising labor costs. However, it will not be enough to bring down housing costs. 

2019 Year in Review

Scary Housing Market?

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A Scary Housing Market? While Halloween decorations are beginning to adorn homes around the City, the real estate market this fall is looking far from scary. Fueled by low mortgage rates and a strong economy, buyer and seller activity remain strong. Year over year, new listings were down 23.7%  for single family homes but increased 0.2% for Condo/TIC/Coops in September. Pending Sales increased 2% for single family homes and 2.7% for Condo/TIC/Coop properties. The median sales price was up 3.3% to $1,550,000 for single family homes and 14.8% to $1,320,000 for Condo/TIC/Coops.  Single Family Homes Year over Year Activity Condo/Coop/TIC Year over Year Activity As the temperatures starts to cool, we will see a seasonally cool down in the housing market.  Buyers will find fewer homes coming on the market, but also less competition for those homes. These market fundamentals suggest no significant changes from recent trends. Did You Know? Uber Copter allows you to take a helicopter to and from the airport in Manhattan at around double the cost of a car....but at a fraction of the time! More than two-thirds of U.S. homes sell for $400,000 or less, according to U.S. Census data and the National Association of Realtors. (WSJ) Immigrants have driven two-thirds of U.S. economic growth since 2011. They founded 30% of U.S. firms, including more than 50% of startups valued at over $1 billion. (The Balance) San Francisco Happenings Union Square Art + Fashion Wine Walk Thur | Oct 17 | 5:30- 8:30 PM Half Moon Bay Pumpkin Festival Sat & Sun | Oct 18 & 19 Grand National Rodeo Sat | Oct 19 | 7:30 PM   37th Annual Sandcastle Classic Sat | Oct 26 |  11:00 AM - 3:30 PM Do you know anyone looking to move to what's next? Let's chat.  Cheers,  Maggie

Read More Just Listed Maggie Visser 9/25/19 Just Listed Maggie Visser 9/25/19 23 Fresno St Read More Just Listed Maggie Visser 9/21/19 Just Listed Maggie Visser 9/21/19 1230 Clay St #301 Read More Market News Maggie Visser 9/20/19 Market News Maggie Visser 9/20/19 Recession Obsession *|MC_PREVIEW_TEXT|* Did You Know? Warren Buffet made about 95% of his wealth since the age of.....60! The average person becomes a millionaire closer to the age of 60, and women hit this milestone sooner than men, under 59 years of age.  Re-financing volume are up over 160% from a year ago. (CNBC) 10,000 Americans turn 65 years old EVERY DAY...and this will continue to 2030. (Crain's) Recession Obsession Recession talk has become somewhat obsessive over the past few weeks and many have reached out to me for my opinion on this subject.  Whilest I am not an expert, I thought I would share some facts about recessions since - and including - the Great Depression (a once-in-a century occurrence): There have been 14 recessions total since and including the Great Depression of 1929, or one every 6.4 years. We have not had a recession in 10 years. 64% of recessions since 1929 lasted under 1 year. Unemployment rose above 10% in only three recessions. In the past 50 years, unemployment averaged 8.25% during recession. In the past 50 years the average GDP decline was just 2.2%. Currently the USA GDP is growing over 2% annually. ATTOM Data Solutions looked at home prices during the five recessions since 1980 and found that only twice—in 1990 and 2008—did home prices come down during the recession, and in 1990 it was by less than a percent. During the other three, prices actually went up. Buying a home during a recession Many buyers think waiting till a recession hits will allow them to buy 'bargains'.  This may be true for some all-cash buyers, although history has taught us that when a recession hits: The best properties are often withdrawn from the market IF there are signs of price declines.  Interest rates may be lowered, but obtaining financing becomes tougher as banks usually tighten lending standards. If you lose your job, its almost impossible to obtain a mortgage. Cash buyers are always waiting for opportune moments to buy. Competing with these buyers is tough enough during good times. Its worse during tough times. Rents tend to rise during recessions as fewer people qualify for a mortgage to be able to buy. Homeowners who have to foreclose also add new demand for rental housing. Much of the housing demand is driven by employment. A spike in unemployment could negatively impact demand, particularly if an intensifying trade war leads to export tariffs, which could put jobs at risk. But with unemployment at 2.4% in San Francisco, it would take a pretty dramatic rise to cause home prices to drop. In addition, tariffs on imports and tight immigration policy could push constructions costs even higher - all which could impact supply and ensure that housing prices will not slow down , if any at all. Most importantly, we need to remind ourselves that even in the WORST recessions life goes on: people get married, divorced, die, give birth, etc and the vast majority continue working and earning.....and living.  San Francisco Happenings Mid-Autumn Festival at Off the Grid: Fort Mason Center. Friday Sept 13 | 5:00- 10:00 PM De Young Museum: Free Saturdays for SF Residents Saturdays | 9:30 AM - 5:15 PM Hayes Valley Urban Air Market Sunday Sept 15 | 11:00 AM - 6:00 PM   Free Rooftop Concerts  | Salesforce Park Wednesdays  | 5:00 PM - 6:00 PM Do you know anyone looking to move to what's next? Let's chat.  Cheers,  Maggie  Read More Just Listed Maggie Visser 9/20/19 Just Listed Maggie Visser 9/20/19 1810 Polk St #201 Read More Market News Maggie Visser 6/25/19 Market News Maggie Visser 6/25/19 SAN FRANCISCO HOME PRICE MAP - COMPASS Updated June 1, 2019: This map reflects median home sales prices in San Francisco neighborhoods for the 12-month period through May 2019. Median sales prices are generalities that often fluctuate and can be affected by other factors besides changes in fair market value. They typically disguise a huge range of prices in the underlying individual sales, and how these median sales prices relate to any particular home is impossible to say without a specific comparative market analysis. All prices should be considered approximate. Data per sales reported to MLS, deemed reliable, but may contain errors and subject to revision. Run cursor over map to pull up icons and prices. Read More Maggie Visser 6/13/19 Maggie Visser 6/13/19 Introducing Compass Concierge Introducing Compass Concierge - a program that fronts the cost of home improvements services like staging, painting, deep-cleaning and cosmetic improvements with NO UPFRONT COSTS, NO INTEREST FEES, NO HIDDEN CHARGES - EVER! Introducing Compass Concierge - a program that fronts the cost of home improvements services like staging, painting, deep-cleaning, and cosmetic improvements with NO UPFRONT COSTS, NO INTEREST FEES, NO HIDDEN CHARGES - EVER! If you’re not convinced, look at these before and after photos of a home I sold. The sellers received 8 offers and the home sold for $700,000 OVER the asking price. Here are some of the things Compass Concierge has been used for: Architecture plans Garage door repair Pest inspection Art rental Gas pipe replacement Photography Asphalt repair General contractor Plumbing repair Asphalt sealing Grout repair Pool recoating Attic repair Gutter repair Power washing Backyard renovation Handyman repair Presale inspections Bathroom remodel Hardscape Pressure washing Bathroom improvements HVAC repair Reglaze tub Cabinet repairs, refinishing or resurfacing Interior painting Re-tiling bathrooms Cabinet replacement Kitchen counter tops Roof brightening Carpet cleaning Kitchen improvements Roofing repair Carpet replacement Landscaping Scaffolding Caulking Light fixtures Seller-side evaluations Closet renovation Lighting Sewer lateral inspections & remediation Color consultation Marketing campaign Sewer line maintenance Concrete staining Masonry work Side fencing Cosmetic renovations Mold remediation Slab jack Custom closet work Moving & storage Smoke smell removal Deck refinishing & repair New appliances Soundproofing Decluttering New cabinets Staging Deep-cleaning New carpet Stairs resurfacing Design consultations New decks Termite extermination Driveway repair New dishwasher Tile repair Dry rot repair New driveway Trash removal Drywall repair New fencing Tree inspection Electric outlet repair New front door Tree removal Electrical work New furnace Utility maintenance Environmental analysis New garage door Virtual staging Exterior cleaning New hardwood floors Wallpaper removal Exterior painting New HVAC Water heating repairs Fencing repairs New sinks Waterproofing Floor refinishing, lamination & updates New tub Window cleaning Floor plans Painting Window replacements Furnace repair Permitting Wine unit installation Furniture Pest control & remediation To find out how I can help you move to what’s next, without any upfront costs, give me a call. Read More Newer Posts Older Posts Maggie Visser DRE 01925742 3512 16th St SAN FRANCISCO CA 94114 maggie@maggievisser.com 415.793.3470 Maggie Visser is a real estate agent affiliated with Compass. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but have not been verified. Changes in price, condition, sale, or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

23 Fresno St

1230 Clay St #301

Recession Obsession

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Did You Know? Warren Buffet made about 95% of his wealth since the age of.....60! The average person becomes a millionaire closer to the age of 60, and women hit this milestone sooner than men, under 59 years of age.  Re-financing volume are up over 160% from a year ago. (CNBC) 10,000 Americans turn 65 years old EVERY DAY...and this will continue to 2030. (Crain's) Recession Obsession Recession talk has become somewhat obsessive over the past few weeks and many have reached out to me for my opinion on this subject.  Whilest I am not an expert, I thought I would share some facts about recessions since - and including - the Great Depression (a once-in-a century occurrence): There have been 14 recessions total since and including the Great Depression of 1929, or one every 6.4 years. We have not had a recession in 10 years. 64% of recessions since 1929 lasted under 1 year. Unemployment rose above 10% in only three recessions. In the past 50 years, unemployment averaged 8.25% during recession. In the past 50 years the average GDP decline was just 2.2%. Currently the USA GDP is growing over 2% annually. ATTOM Data Solutions looked at home prices during the five recessions since 1980 and found that only twice—in 1990 and 2008—did home prices come down during the recession, and in 1990 it was by less than a percent. During the other three, prices actually went up. Buying a home during a recession Many buyers think waiting till a recession hits will allow them to buy 'bargains'.  This may be true for some all-cash buyers, although history has taught us that when a recession hits: The best properties are often withdrawn from the market IF there are signs of price declines.  Interest rates may be lowered, but obtaining financing becomes tougher as banks usually tighten lending standards. If you lose your job, its almost impossible to obtain a mortgage. Cash buyers are always waiting for opportune moments to buy. Competing with these buyers is tough enough during good times. Its worse during tough times. Rents tend to rise during recessions as fewer people qualify for a mortgage to be able to buy. Homeowners who have to foreclose also add new demand for rental housing. Much of the housing demand is driven by employment. A spike in unemployment could negatively impact demand, particularly if an intensifying trade war leads to export tariffs, which could put jobs at risk. But with unemployment at 2.4% in San Francisco, it would take a pretty dramatic rise to cause home prices to drop. In addition, tariffs on imports and tight immigration policy could push constructions costs even higher - all which could impact supply and ensure that housing prices will not slow down , if any at all. Most importantly, we need to remind ourselves that even in the WORST recessions life goes on: people get married, divorced, die, give birth, etc and the vast majority continue working and earning.....and living.  San Francisco Happenings Mid-Autumn Festival at Off the Grid: Fort Mason Center. Friday Sept 13 | 5:00- 10:00 PM De Young Museum: Free Saturdays for SF Residents Saturdays | 9:30 AM - 5:15 PM Hayes Valley Urban Air Market Sunday Sept 15 | 11:00 AM - 6:00 PM   Free Rooftop Concerts  | Salesforce Park Wednesdays  | 5:00 PM - 6:00 PM Do you know anyone looking to move to what's next? Let's chat.  Cheers,  Maggie  Read More Just Listed Maggie Visser 9/20/19 Just Listed Maggie Visser 9/20/19 1810 Polk St #201 Read More Market News Maggie Visser 6/25/19 Market News Maggie Visser 6/25/19 SAN FRANCISCO HOME PRICE MAP - COMPASS Updated June 1, 2019: This map reflects median home sales prices in San Francisco neighborhoods for the 12-month period through May 2019. Median sales prices are generalities that often fluctuate and can be affected by other factors besides changes in fair market value. They typically disguise a huge range of prices in the underlying individual sales, and how these median sales prices relate to any particular home is impossible to say without a specific comparative market analysis. All prices should be considered approximate. Data per sales reported to MLS, deemed reliable, but may contain errors and subject to revision. Run cursor over map to pull up icons and prices. Read More Maggie Visser 6/13/19 Maggie Visser 6/13/19 Introducing Compass Concierge Introducing Compass Concierge - a program that fronts the cost of home improvements services like staging, painting, deep-cleaning and cosmetic improvements with NO UPFRONT COSTS, NO INTEREST FEES, NO HIDDEN CHARGES - EVER! Introducing Compass Concierge - a program that fronts the cost of home improvements services like staging, painting, deep-cleaning, and cosmetic improvements with NO UPFRONT COSTS, NO INTEREST FEES, NO HIDDEN CHARGES - EVER! If you’re not convinced, look at these before and after photos of a home I sold. The sellers received 8 offers and the home sold for $700,000 OVER the asking price. Here are some of the things Compass Concierge has been used for: Architecture plans Garage door repair Pest inspection Art rental Gas pipe replacement Photography Asphalt repair General contractor Plumbing repair Asphalt sealing Grout repair Pool recoating Attic repair Gutter repair Power washing Backyard renovation Handyman repair Presale inspections Bathroom remodel Hardscape Pressure washing Bathroom improvements HVAC repair Reglaze tub Cabinet repairs, refinishing or resurfacing Interior painting Re-tiling bathrooms Cabinet replacement Kitchen counter tops Roof brightening Carpet cleaning Kitchen improvements Roofing repair Carpet replacement Landscaping Scaffolding Caulking Light fixtures Seller-side evaluations Closet renovation Lighting Sewer lateral inspections & remediation Color consultation Marketing campaign Sewer line maintenance Concrete staining Masonry work Side fencing Cosmetic renovations Mold remediation Slab jack Custom closet work Moving & storage Smoke smell removal Deck refinishing & repair New appliances Soundproofing Decluttering New cabinets Staging Deep-cleaning New carpet Stairs resurfacing Design consultations New decks Termite extermination Driveway repair New dishwasher Tile repair Dry rot repair New driveway Trash removal Drywall repair New fencing Tree inspection Electric outlet repair New front door Tree removal Electrical work New furnace Utility maintenance Environmental analysis New garage door Virtual staging Exterior cleaning New hardwood floors Wallpaper removal Exterior painting New HVAC Water heating repairs Fencing repairs New sinks Waterproofing Floor refinishing, lamination & updates New tub Window cleaning Floor plans Painting Window replacements Furnace repair Permitting Wine unit installation Furniture Pest control & remediation To find out how I can help you move to what’s next, without any upfront costs, give me a call. Read More Newer Posts Older Posts Maggie Visser DRE 01925742 3512 16th St SAN FRANCISCO CA 94114 maggie@maggievisser.com 415.793.3470 Maggie Visser is a real estate agent affiliated with Compass. Compass is a real estate broker licensed by the State of California and abides by Equal Housing Opportunity laws. License Number 01527235. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but have not been verified. Changes in price, condition, sale, or withdrawal may be made without notice. No statement is made as to the accuracy of any description. All measurements and square footage are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.

1810 Polk St #201

SAN FRANCISCO HOME PRICE MAP - COMPASS

Updated June 1, 2019: This map reflects median home sales prices in San Francisco neighborhoods for the 12-month period through May 2019. Median sales prices are generalities that often fluctuate and can be affected by other factors besides changes in fair market value. They typically disguise a huge range of prices in the underlying individual sales, and how these median sales prices relate to any particular home is impossible to say without a specific comparative market analysis. All prices should be considered approximate. Data per sales reported to MLS, deemed reliable, but may contain errors and subject to revision.

Run cursor over map to pull up icons and prices.

Introducing Compass Concierge

Introducing Compass Concierge - a program that fronts the cost of home improvements services like staging, painting, deep-cleaning, and cosmetic improvements with NO UPFRONT COSTS, NO INTEREST FEES, NO HIDDEN CHARGES - EVER!

If you’re not convinced, look at these before and after photos of a home I sold. The sellers received 8 offers and the home sold for $700,000 OVER the asking price.

Here are some of the things Compass Concierge has been used for:

• Architecture plans

• Garage door repair

• Pest inspection

• Art rental

• Gas pipe replacement

• Photography

• Asphalt repair

• General contractor

• Plumbing repair

• Asphalt sealing

• Grout repair

• Pool recoating

• Attic repair

• Gutter repair

• Power washing

• Backyard renovation

• Handyman repair

• Presale inspections

• Bathroom remodel

• Hardscape

• Pressure washing

• Bathroom improvements

• HVAC repair

• Reglaze tub

• Cabinet repairs, refinishing or resurfacing

• Interior painting

• Re-tiling bathrooms

• Cabinet replacement

• Kitchen counter tops

• Roof brightening

• Carpet cleaning

• Kitchen improvements

• Roofing repair

• Carpet replacement

• Landscaping

• Scaffolding

• Caulking

• Light fixtures

• Seller-side evaluations

• Closet renovation

• Lighting

• Sewer lateral inspections & remediation

• Color consultation

• Marketing campaign

• Sewer line maintenance

• Concrete staining

• Masonry work

• Side fencing

• Cosmetic renovations

• Mold remediation

• Slab jack

• Custom closet work

• Moving & storage

• Smoke smell removal

• Deck refinishing & repair

• New appliances

• Soundproofing

• Decluttering

• New cabinets

• Staging

• Deep-cleaning

• New carpet

• Stairs resurfacing

• Design consultations

• New decks

• Termite extermination

• Driveway repair

• New dishwasher

• Tile repair

• Dry rot repair

• New driveway

• Trash removal

• Drywall repair

• New fencing

• Tree inspection

• Electric outlet repair

• New front door

• Tree removal

• Electrical work

• New furnace

• Utility maintenance

• Environmental analysis

• New garage door

• Virtual staging

• Exterior cleaning

• New hardwood floors

• Wallpaper removal

• Exterior painting

• New HVAC

• Water heating repairs

• Fencing repairs

• New sinks

• Waterproofing

• Floor refinishing, lamination & updates

• New tub

• Window cleaning

• Floor plans

• Painting

• Window replacements

• Furnace repair

• Permitting

• Wine unit installation

• Furniture

• Pest control & remediation

To find out how I can help you move to what’s next, without any upfront costs, give me a call.