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.

CoreLogic S&P Case-Schiller Home Price Index: SF Short-term Price Changes

The latest Case-Shiller Index for the SF Metro Area was released, and showed a significant jump back up in prices from the large drop that occurred in the second half of 2018 - and is now close to the peak prices seen in late spring/early summer 2018.

Jobs Report: California sees largest monthly gain in two years

According to the latest report from the state Employment Development Department, California added 46,000 jobs in April – the largest monthly gain since March 2017.

• While monthly job additions have varied a lot since the beginning of the year, California led all states in the monthly increase. The state has added 271,600 jobs over the last year, which is a 1.6 percent year-over-year increase – slightly behind the 1.8 percent overall national growth rate.

• The state’s unemployment rate remained steady at 4.3 percent in April. Labor force declined, however, by 52,200 in April, after some solid increases in first three months of the year. Compared to a year ago, the labor force has increased by 203,900 people.

• With 46,000 jobs added over the month, 9 out of 11 industries added jobs in January, with largest gains in educational and health services, up 17,300 jobs, followed by leisure and hospitality, up 12,100 jobs. Information and minting and logging posted monthly losses.

• In annual comparison, 10 out of 11 industries added jobs with health services showing the largest gains, up 78,800 jobs, followed by professional and business services, up 66,900 jobs. Only financial activity posted an annual loss of 2,700.

• Regionally, Los Angeles finally showed a rebound after a rocky start to 2019. Los Angeles County added 19,300 jobs over the month and 56,100 over the year. The region’s labor force, however, declined by 20,000 which is not encouraging for hiring trends going forward. Nevertheless, monthly gains were largely focused in leisure and hospitality, with a larger than usual seasonal addition. Construction also saw above-average April gains bringing the sector’s employment to the highest level in more than a decade. On the annual basis, the health and wellbeing of an aging population continues to influence large gains. Job additions in healthcare and social assistance, up 18,800, accounted for ninety-two percent of the overall sector job growth to reach a new all-time high. On the other hand, losses were focused in financial services, particularly, finance and insurance, though apparel manufacturing was down as well.

• In the Bay Area, gains were broad based across the regions and most regions saw unemployment rate decline again falling below the year-ago bottom. In San Francisco-San Mateo region, up 5,000 jobs, monthly gains were led by healthcare job additions, followed by leisure and hospitality, and solid gains in information.

• In the Santa Clara-San Benito region, up 6,400 jobs, gains were also led by leisure and hospitality, but also specialty trade contractors, and information. Computer and electronic product manufacturing posted 1,100 losses.

• In Alameda and Contra Costa, up 6,800 jobs, similar trends followed with healthcare and social assistance leading the gains followed by leisure and hospitality.

400 Sussex Street

San Francisco Market Minute

San Francisco Real Estate High-Demand Spring Market Slightly Below Last Year's Home Price Peaks May 2019 Report With April’s end, we now have 2 months of spring season data unaffected by the end of 2018, when financial markets plunged. As of early May 2019, stock markets have recovered to hit new highs, interest rates are far lower than last year’s peak, and our local, unicorn IPOs have begun to roll out after a media frenzy of speculation on their potential effects on the market.  The market has heated up considerably from the slowdown in the second half of 2018, with strong buyer demand for a very limited inventory of listings. Median home sales prices have returned to highs close to those in spring 2018, but, so far, last year’s peaks have not been exceeded. This is a big change from the year-over-year appreciation rates of the past 6-7 years.  However, there are still 2 months of spring sales data to come in (before the typical summer slowdown), and word on the street is that some new listings are again generating feverish bidding wars between buyers.  Monthly Median House Sales Prices Monthly median sales prices are often affected by other factors besides changes in fair market value – for example, the extreme seasonality of luxury home sales – but the above chart helps illustrate trends over the past 2 years: Spring 2018 was one of the hottest markets in history, with dramatic year-over-year price appreciation. The market then cooled, stock markets turned scary, and interest rates climbed. 2019 has heated up again, but, so far, without any y-o-y median price gains. The most expensive housing market in the country has, for the time being, stopped becoming more expensive. Year-over-Year Comparisons The table below compares the March-April market statistics of 2018 and 2019. Prices were stable, overbidding was down, and luxury home sales were up, but most statistics were remarkably similar to last year's. The SF and Oakland-Berkeley markets are currently the strongest in the Bay Area. Home Sales by Price Range & Bedroom Count Below is an illustration of sales of houses, condos, co-ops and TICs over the past 12 months, by price segment and by number of bedrooms.  Condos now constitute the biggest share of sales in San Francisco, which mostly explains the high columns for 1- and 2-bedroom sales in the $500,000 to $1.5 million range. District Sales & Median Home Prices The next 2 charts break down the last 12 months of sales by Realtor District (delineated on the map above). Some districts were split into 2 for these analyses, but all these areas contain neighborhoods of differing characteristics and home values. House Sales, Median Prices & Median Sizes The two biggest districts by volume of house sales - Bayview/ Excelsior/ Crocker Amazon (D10) and Sunset/ Parkside/ GG Heights (D2) - are also 2 of the 3 most affordable districts for purchasing a house in the city. Many of the older districts with bigger, more expensive houses are relatively small markets.  Condo Sales & Median 2-BR/2-BA Condo  Prices Condo sales in SF run across a wide range of eras and styles, from Victorian and Edwardian units in small buildings, through brand new, ultra-luxury high-rise penthouses. The breakout of median sales prices pertain to 2-bedroom, 2 bath condos only. San Francisco Luxury Homes Markets by District We typically define the SF luxury house market as houses selling for $3 million+, and the luxury condo, co-op and TIC market as those selling for $2 million+.  SF Luxury House Sales by District The central Noe, Eureka and Cole Valleys district (D5) dominates the market for houses selling from $3 to $4.99 million. The northern Pacific Heights-Cow Hollow district (D7) dominates the $5 million+ ultra-luxury segment. But high-end home sales are scattered across the city. Luxury Condo, Co-op & TIC Sales by District Luxury condo sales are concentrated in 3 districts: District 9, where most of the newer, high-rise, luxury projects are found in the South Beach/Yerba Buena area (which 30 years ago was filled with parking lots and auto-stereo shops), and in the old-prestige, northern neighborhoods of Districts 7 & 8, which include Pacific Heights and Russian Hill. (This is also where the city's high-price co-op units are clustered). Q1 2019 "Ultra-Luxury" Homes Markets We start the "ultra-luxury" segments at $5 million for houses, and $3 million for condos and co-ops. There has been a large (and continuing) surge in the construction of very expensive condo projects over the last 15 years, which makes for a greatly increased inventory of high-price condos for sale - and softer market dynamics. House Size & Era of Construction Many factors influence home construction size during any particular period: Affluence, economic conditions, household size, buyer age, land costs, population growth, natural disasters, etc. Generally speaking, the median size of houses was larger during the Victorian-Edwardian era, and declined through the 1940's - when enormous swathes of the city were built out in the south and southwest districts. Home sizes then began increasing again, and are now larger than ever - however, few new houses are currently built in the city.  The sizes of houses built in earlier periods have increased over the years due to renovations: Adding that 2nd bathroom, or a 3rd bedroom behind the garage.  Condos have become the major alternative for people purchasing homes of smaller size.  Selected Demographic & Economic Factors Population Growth SF has seen a dramatic population increase over the past 10 years, and by percentage growth, SF had the 2nd highest rate in the Bay Area after Alameda County. But new census data indicates the rate of growth is rapidly dropping.  Our latest burst of growth - an increase of about 78,000 or 10% - with all its social and economic effects, looks paltry compared to the 1940's, when the city's population soared by 140,000, a jump of 22% that began with WWII. Commuting Venture Capital Investment In recent years, the Bay Area has been the biggest destination of venture capital investment dollars in the country - and probably the world. These tens of billions of dollars have constituted a massive factor in the local economy, supercharging the creation of new companies, hiring, and, eventually, IPOs. Venture capital is effectively seed money that has exploded into the creation of stupendous amounts of new wealth. It is impossible to know how median and average value statistics apply to any particular home without a specific comparative market analysis. These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.  Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.

254 20th Avenue