Maggie Visser 5/14/24 Maggie Visser 5/14/24

San Francisco Real Estate - May 2024 Report

San Francisco - May 2024 Market 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.

Maggie Visser 4/14/24 Maggie Visser 4/14/24

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

With the first quarter of the year behind us, the real estate market has seen some big changes in supply and demand. This shake-up has brought about fierce competition and a flurry of activity in the market, pushing significant home price increases spanning from starter homes in hot neighborhoods, to luxury properties in every price bracket, as well as chic condos ticking all the boxes and well-priced listings in desirable neighborhoods.

Driving Forces

The surge in buyer interest has been boosted by stable interest rates holding steady around the mid-6% range and optimism driven by anticipated rate decreases. Plus, the stock market's performance, especially indices like the S&P and Nasdaq, are adding fuel to the real estate fire. Consumer confidence is also riding high, hitting its peak in almost three years, even though inflation rates are above the Fed's 2% target.

New Opportunities

Despite the overall surge in buyer activity, certain market segments still provide excellent opportunities where buyers have significant leverage. One interesting trend worth noting is the rising value opportunities in downtown markets. Recent data shows a stark contrast in condo appreciation rates between downtown areas and other parts of the city, with downtown neighborhoods enjoying a robust 7% year-over-year increase in median sales prices, compared to 3.5% in other neighborhoods.

Outlook for Q2

Considering current trends and market conditions, it's highly probable that significant home price increases will persist into the second quarter of 2024.

Click Here for a Complete Market Report

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

Cheers,
Maggie

Maggie Visser 4/9/24 Maggie Visser 4/9/24

San Francisco Real Estate - April 2024 Report

San Francisco - April 2024 Market 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.

Maggie Visser 3/12/24 Maggie Visser 3/12/24

San Francisco Real Estate - March 2024 Report

San Francisco - February 2024 Market 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.

Maggie Visser 2/14/24 Maggie Visser 2/14/24

San Francisco Real Estate - February 2024 Report

San Francisco - February 2024 Market 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.

Maggie Visser 2/4/24 Maggie Visser 2/4/24

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

Hold onto your umbrellas! Consumer confidence shot up by a whopping 29% in just two months, marking the most significant surge since 1991. The stock markets are booming, with the S&P 500 hitting a record high yesterday following an unexpectedly robust jobs report. Mortgage rates? They're currently chilling at their lowest point since May 2023.

With all these factors at play, there's an exuberance, and a wave of eager buyers flooding the market.

The days of homes sitting around with no takers seems to be fading fast. Now, many new listings are flying off the shelves within days, often sparking bidding wars and multiple offers. Homes that lingered on the market last year are suddenly hot commodities, some even selling over asking. And guess what? This isn't just happening in the ritziest neighborhoods; it's even reaching downtown.

Below is a quick rundown of how the action is unfolding across the city.

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

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

Cheers,
Maggie

Maggie Visser 1/25/24 Maggie Visser 1/25/24

Reflecting on 30 Years: From JFK to Gratitude

30 Years ago.
It was a cold and wet January day.
When we touched the ground at JFK.

It's hard to believe that it's been three decades since I embarked on an internship in Miami that was meant to last only six months. Little did I know then that this journey would take me through unexpected twists and turns, leading me to Atlanta where I met my husband, relocating to New York where I encountered my first experience with snow – a defining moment that ultimately led me to San Francisco where I found my true home.

As I reflect on the past 30 years, I can't help but marvel at the role luck, running and the incredible people in my life have played in shaping my journey. I have a deep sense of gratitude for the opportunities this great country has bestowed upon me. The land of dreams and possibilities, where hard work is rewarded, and dreams can become a reality. I appreciate the countless doors that opened for me, the chances I was given, and the unwavering support of those who believed in my potential. 

To all those who stood by me, believed in me, and influenced my path, thank you from the bottom of my heart. It's the collective efforts and shared moments that have shaped the person I am today.

Here's to the next chapter, filled with gratitude, growth, and the unwavering belief that the best is yet to come!

-Maggie

Maggie Visser 1/9/24 Maggie Visser 1/9/24

San Francisco Real Estate - January 2024 Report

San Francisco - January 2024 Market 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.

Maggie Visser 12/9/23 Maggie Visser 12/9/23

San Francisco Real Estate - December 2023 Report

San Francisco - November 2023 Market 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.

Maggie Visser 12/3/23 Maggie Visser 12/3/23

Quality at a Fair Price vs. The Illusive Bargain

Did you know that Charlie Munger, the investing legend who recently passed away, played a big role in changing Warren Buffet's approach to investing? Instead of buying struggling companies at low prices, Munger steered Buffet toward focusing on quality companies at fair prices. It's a lesson that applies not just to investing, but also to buying a home.

I often hear buyers talking about hunting for that perfect "bargain." But in competitive markets, it's tough to find a true steal without facing a lot of competition. This kind of pursuit is usually better suited for real estate pros, not buyers looking for a place to call home. Some people see a home as just four walls and aim to snag the cheapest deal out there. But it's important to be realistic about the long-term value of such a purchase.

Seeing value at the time of purchase takes a trained eye and professional guidance.

After keeping a close eye on real estate for the last decade, I've learned that the best long-term results often come from high-quality properties in prime locations. Great investors, like Munger and Buffet, don't just look at stock prices; they invest in the product and the companies behind them. Their focus on fair-price purchases over the years really speaks volumes about the success of this approach.

So, whether you're investing in stocks or buying a home, remember that focusing on quality and fair prices tends to lead to the best outcomes. It's a valuable lesson to keep in mind for both investors and homebuyers.

Having said that: Hello December - it's a great time for home deals!

Below is a snapshot of a few homes that sold this week for less than their purchase price. There are deals to be found on high quality homes during this time of the year!

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

Cheers,
Maggie

Maggie Visser 11/12/23 Maggie Visser 11/12/23

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

Last week was a bit of a rollercoaster ride, with the economy finally showing signs of cooling down….this news is exactly what both the financial markets and the real estate market have been eagerly anticipating.

Here’s what happened:

The Fed left the interest rate unchanged after the meeting on November 1st
Manufacturing cooled
Employment declined
New hirings cooled
Jobs report was weaker than expected
Unemployment rose to 3.9%, up from 3.8%

The stock market is buoyant as it appears we are done with rate hikes and have continued to rally for 4 consecutive days. mortgage interest rates saw a sudden drop down to 7.38% (and it is holding steady) after climbing to a 20-year high at 8% in October.

Lower rates + stock market rally = great news for the housing market

Now, for the nitty-gritty. House prices are down 2% YoY and condos are down 3% YoY, but things have been relatively flat recently. September saw a burst of new listings, more than we've seen in a while. Although it tapered off since then, it sparked a boost in sales last month. October typically sees the peak of price reductions. This year, a whopping 350 listings had their prices adjusted last month.

Follow the link below for a complete market report.

As we head into the slowest period of the year, many properties are being pulled off the market. It's a golden opportunity for savvy buyers who want to stay in the game – less competition and room for some aggressive negotiation. Time to take a second look at those homes that have been on the market for a while!

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

Cheers,
Maggie

Maggie Visser 11/11/23 Maggie Visser 11/11/23

San Francisco Real Estate - November 2023 Report

San Francisco - November 2023 Market 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.

Maggie Visser 10/22/23 Maggie Visser 10/22/23

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

As someone who recently went through the permitting process to enclose our back stairs and add a deck, I can attest to the challenges and frustrations involved in getting anything build in the city. In my experience, it took a staggering 21 months to obtain a building permit, despite having zero objections from my neighbors….and the price nearly doubled from two years earlier.

Many of you may already know that the city has been tasked with building 82,069 new homes by 2031. To put it into perspective, the city needs to approve 28 units per day to fulfill the housing element's objectives.

In July, the city approved a mere 3 housing units

Shockingly (not), at the current permitting rate of only 26 new housing units per month, it would take over 267 years to achieve these goals. 

Whilst there are external factors beyond the city's control, such as rising mortgage rates and a softer housing market, that hinder housing production, it is crucial that the city addresses the issues within its control: the time and money associated with obtaining development approvals.

So how can we streamline the process?

Reform the permitting procedures
Decrease the number of hearings and legal disputes 
Align density restrictions with existing height, size, and setback criteria
Hold city staff accountable

And perhaps then we can expect to make a dent in the 267-year timeline.

Just Listed!

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

Cheers,
Maggie

Maggie Visser 10/10/23 Maggie Visser 10/10/23

San Francisco Real Estate - October 2023 Report

San Francisco Residential - October 2023 Market 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.

Maggie Visser 9/17/23 Maggie Visser 9/17/23

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

The surprisingly quick recovery suggest that the residential real estate downturn is turning out to be shorter and shallower than many housing economists expected after mortgage rates soared last year…..there still aren’t enough homes for sale to meet demand”  -WSJ 9/8/23

YoY home price declines have turned positive

After the market peaked in mid-2022, year over year home prices began to decline, peaking in the Spring. However, the tide is now turning. In August, we saw YoY median home price appreciation turned positive (5%). Although this does not mean that we are back to the highs of Spring 2022, we expect to see YoY appreciation continue to grow.

Fewer sellers  = recovery in home prices, despite high mortgage rates

The decline in the number of sellers putting their home on the market continues to impact the balance between supply and demand, helping the recovery in home prices despite mortgage rates over 7%. In response, all cash transactions nationally have been running at its highest level in 8 years.

Variations depending on property type and location

Since the pandemic peak, declines in the condo market has been more pronounced compared to houses. Small condos (studio/1-bed) and Downtown condos were hit the hardest. Prices in Downtown are now comparable to 2014 prices, offering investment opportunity for those with long-term vision.

The Luxury Market

The luxury market ($5M+) has also seen a decline, with more sales under the original list price than over. As of September 11, 51% of active listings have been on the market for 60+ days and there are 94 active/coming soon listings.

Fall is typically the busiest time of year for new listings

The Fall market runs from Labor Day until mid-November, and September is typically the month when we see the largest number of new listings. With 509 new listings hitting the market since Labor Day, we expect to see substantial activity this Fall. 

If you’re in the market to buy a home, buckle up and get your financing sorted out so that you don't fall behind. Homes that check many boxes are flying off the market.

Follow the link below for a complete market report.

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

Cheers,
Maggie

Maggie Visser 9/13/23 Maggie Visser 9/13/23

San Francisco Real Estate - September 2023 Report

San Francisco - September 2023 Market 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.

Maggie Visser 8/8/23 Maggie Visser 8/8/23

San Francisco Real Estate - August 2023 Report

San Francisco - August 2023 Market 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.

Maggie Visser 7/23/23 Maggie Visser 7/23/23

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

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

Check out this CBS news clip from the archives...

But San Francisco didn't die. In fact, it made a remarkable comeback. The city's economy rebounded, businesses came back, and the homeless population was reduced.

Today, there are some who are speculating that San Francisco is once again in a doom loop with its economy facing challenges, high downtown office vacancy rates, businesses moving out, and rising drug abuse and homelessness.

Is history repeating itself?

According to Pitchbook, nearly half of all funding for artificial intelligence (AI) worldwide in the first three months of this year went to San Francisco companies ($11.1 billion). Mayor London Breed has declared San Francisco the AI Capital of the World, and a recent report from Avison Young identified nine AI companies looking for more than 700,000 square feet of office space in the city. While AI alone will not be the magic bullet that brings downtown back, it is a start.

The future is uncertain, but one thing is for sure: the City will continue to be a place of innovation, creativity, and diversity. San Francisco has faced challenges before, and it has always come back stronger.

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

Cheers, Maggie

Maggie Visser 7/14/23 Maggie Visser 7/14/23

San Francisco Real Estate - July 2023 Report

San Francisco - July 2023 Market 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.

Maggie Visser 7/9/23 Maggie Visser 7/9/23

Homeowners Insurance: The Latest Hot Button Issues

Homeowners Insurance: the Latest Hot Button Issues

State Farm and Farmers recently stopped selling new homeowners’ insurance policies in California. Meanwhile, some of the 115 other insurance companies who are still writing new policies have introduced significant changes to their underwriting practices, and many are reducing coverage based on a number of issues.

The Hot Buttons Issues

Age of the building (pre-1925)
Age of the roof (older than 15 years)
Electrical wiring (knob & tube)
Occupancy (tenants present)
Any previous claims on the home, regardless if it was paid out
Replacement costs of $2M+

The Fallout

Insurance is a requirement for mortgage loans, so the lack of insurance options may impact people's ability to buy. In a market that is already challenging due to high interest rates, a limited supply of homes, increased competition and higher housing prices, some buyers are denied insurance or forced to pay higher premiums. Some face renovation requirements, causing delays in transactions. And the insurance issue is not only limited to real estate transactions. Even some existing homeowner policies are getting cancelled, despite having no history of any claims.😯

What Steps to Take

If you already own a home, or you're thinking about selling your home, you can avoid any insurance surprises by taking the following steps:

Regularly Maintain the Home: Keep the home in good condition by performing regular maintenance tasks such as repairing leaks, replacing the roof, updating electrical systems, and addressing any structural issues. Insurance companies may inspect the property before providing coverage.
Install Safety Features: Enhance the safety of the home by installing security systems, smoke detectors, and deadbolt locks. These measures can reduce the risk of theft, fire, and other potential hazards. 
Upgrade Electrical, Plumbing, and Heating Systems: Outdated electrical, plumbing, and heating systems can pose risks. Upgrading these systems to modern standards can make the home safer and qualify for insurance coverage.
Bundle Insurance Policies: Some insurance companies offer discounts if you bundle multiple policies, such as homeowners and auto insurance, with them. Inquire about potential discounts to reduce the overall cost of insurance.
Maintain a Claims-Free History: A history of frequent claims can raise red flags for insurance companies. Try to minimize unnecessary claims and only file claims for significant damages or losses.
Don't Miss a Payment — or you may find yourself among California’s uninsured.

If you're a buyer, check with an insurance agent prior to making an offer to make sure what coverage options are available and/or include an insurance contingency in your purchase offer.

The Future

It is unclear if other insurance providers will also withdraw from the California market. Overall, the impact of these changes will become more apparent over time, and it is expected to make homeownership more expensive, particularly for entry-level buyers.

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

Cheers, Maggie