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A tailored, white-glove approach to buying, selling and investing in real estate with exceptional results.
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The excitement of buying a new home can sometimes make us vulnerable to various real estate scams. While most transactions are legitimate, it's crucial to be aware of the red flags that signal fraudulent activity. In this blog, we'll explore common real estate scams and how you can protect yourself from becoming a victim.
While the vast majority of real estate transactions are legitimate, scams do exist. Being aware of the common types of scams and knowing how to protect yourself can make all the difference. Always trust your instincts and consult professionals when in doubt.
Concerned about potential real estate scams and want to ensure a safe transaction? I'm here to guide you.
Text me for personalized advice on how to protect yourself during the home-buying process.
When it comes to buying a home, timing can be a crucial factor that influences the price, availability, and your overall financial planning. While individual circumstances vary, there are general trends that can guide you in determining the best time to make this significant investment. In this blog, we'll explore the factors that can help you decide when it's the right time to buy a home.
The best time to buy a home is influenced by a myriad of factors, including market trends, personal finances, and even your emotional state. By considering all these elements, you can make a well-informed decision that suits your needs and lifestyle.
Ready to find the perfect time to buy your dream home? I'm here to guide you through the complexities of timing your purchase.
Text me for personalized advice and insights into when to make your move.
Buying a home is not just a financial transaction; it's an emotional journey filled with highs, lows, and everything in between. Understanding the psychology behind home buying can help both buyers and sellers navigate the process more effectively. In this blog, we'll delve into the emotional aspects that play a crucial role in the home-buying experience.
Understanding the psychology of home buying can make the process more manageable and less overwhelming. By recognizing the emotional stages involved, buyers and sellers can better prepare themselves for the journey ahead.
Embarking on the emotional journey of buying a home? I'm here to guide you every step of the way.
Text me for personalized support and advice tailored to your emotional and practical needs.
Increasing the value of your home is a smart financial move, whether you're planning to sell soon or simply want to enhance your property as an investment. In this blog, we'll explore various strategies to boost your home's value, from quick fixes to more significant improvements.
Increasing your home's value doesn't have to be a daunting task. By focusing on key areas like curb appeal, kitchen upgrades, and energy efficiency, you can make your property more appealing to buyers and enjoy a higher resale value.
Interested in increasing your home's value but not sure where to start? I'm here to help.
Text me for personalized tips and strategies to boost your property's worth.
The excitement of buying a new home can sometimes make us vulnerable to various real estate scams. While most transactions are legitimate, it's crucial to be aware of the red flags that signal fraudulent activity. In this blog, we'll explore common real estate scams and how you can protect yourself from becoming a victim.
While the vast majority of real estate transactions are legitimate, scams do exist. Being aware of the common types of scams and knowing how to protect yourself can make all the difference. Always trust your instincts and consult professionals when in doubt.
Concerned about potential real estate scams and want to ensure a safe transaction? I'm here to guide you.
Text me for personalized advice on how to protect yourself during the home-buying process.
When it comes to buying a home, timing can be a crucial factor that influences the price, availability, and your overall financial planning. While individual circumstances vary, there are general trends that can guide you in determining the best time to make this significant investment. In this blog, we'll explore the factors that can help you decide when it's the right time to buy a home.
The best time to buy a home is influenced by a myriad of factors, including market trends, personal finances, and even your emotional state. By considering all these elements, you can make a well-informed decision that suits your needs and lifestyle.
Ready to find the perfect time to buy your dream home? I'm here to guide you through the complexities of timing your purchase.
Text me for personalized advice and insights into when to make your move.
Buying a home is not just a financial transaction; it's an emotional journey filled with highs, lows, and everything in between. Understanding the psychology behind home buying can help both buyers and sellers navigate the process more effectively. In this blog, we'll delve into the emotional aspects that play a crucial role in the home-buying experience.
Understanding the psychology of home buying can make the process more manageable and less overwhelming. By recognizing the emotional stages involved, buyers and sellers can better prepare themselves for the journey ahead.
Embarking on the emotional journey of buying a home? I'm here to guide you every step of the way.
Text me for personalized support and advice tailored to your emotional and practical needs.
Increasing the value of your home is a smart financial move, whether you're planning to sell soon or simply want to enhance your property as an investment. In this blog, we'll explore various strategies to boost your home's value, from quick fixes to more significant improvements.
Increasing your home's value doesn't have to be a daunting task. By focusing on key areas like curb appeal, kitchen upgrades, and energy efficiency, you can make your property more appealing to buyers and enjoy a higher resale value.
Interested in increasing your home's value but not sure where to start? I'm here to help.
Text me for personalized tips and strategies to boost your property's worth.
The decision between buying a condo or a house is a significant one that depends on various factors, including lifestyle preferences, financial considerations, and long-term goals. In this blog, we'll explore the pros and cons of each to help you make an informed decision.
Both condos and houses offer unique advantages and disadvantages. Your choice will ultimately depend on your lifestyle preferences, financial situation, and long-term goals. By considering the factors outlined in this blog, you can make a more informed decision.
Still unsure whether a condo or a house is the right choice for you? Let's discuss your options.
Text me for personalized advice on finding the perfect home to suit your needs.
Buying a home is a significant life event that involves various legal considerations. From contracts to property rights, understanding the legal aspects can help you navigate the process more smoothly and avoid potential pitfalls. In this blog, we'll explore the key legal aspects you should be aware of when buying a home.
Understanding the legal aspects of buying a home is essential for a smooth transaction and future peace of mind. From contracts to closing, being well-informed can help you make better decisions and protect your investment.
Navigating the legal aspects of buying a home can be complex, but you don't have to do it alone.
Text me for personalized guidance and legal referrals to ensure a smooth home-buying process.
Choosing a real estate agent is one of the most crucial decisions you'll make when buying or selling a home. The right agent can make the process smooth and profitable, while the wrong one can lead to costly mistakes. In this blog, we'll explore the key factors to consider when selecting a real estate agent.
Choosing a real estate agent is a significant decision that should not be taken lightly. By considering factors like experience, reviews, communication skills, fees, and chemistry, you can make an informed choice that will serve you well throughout the buying or selling process.
Ready to find the perfect real estate agent for your needs? Let's talk, send me a text message.
One of the most significant financial decisions you'll make in your lifetime is whether to rent or buy a home. Both options come with their own sets of advantages and disadvantages. In this blog, we'll delve into the pros and cons of each to help you make an informed decision.
The decision to rent or buy is complex and depends on various factors, including your financial situation, lifestyle preferences, and long-term goals. By understanding the pros and cons of each, you can make a decision that aligns with your life and financial plan.
Still unsure whether renting or buying is the right choice for you? Let's discuss your options, feel free to send me a text message.
If you're considering buying a home, understanding mortgage rates is crucial. These rates can significantly impact the overall cost of your home and your monthly payments. In this blog, we'll break down what mortgage rates are, how they work, and what factors influence them.
Understanding mortgage rates is essential for anyone looking to buy a home. By knowing what influences these rates and how to secure the best one for your situation, you can make an informed decision that will benefit you in the long run.
Ready to dive into the world of mortgages but need some expert guidance? Let's chat, send me a text message.
The COVID-19 pandemic has had a profound impact on various sectors, and the real estate market is no exception. From shifting homebuyer behaviors to changes in property values, the pandemic has reshaped the landscape in unprecedented ways. In this blog, we'll explore the key impacts of COVID-19 on the real estate market.
The COVID-19 pandemic has had a multifaceted impact on the real estate market, affecting what buyers are looking for, where they are looking, and how transactions are conducted. While the long-term effects are still unfolding, understanding these changes can help both buyers and sellers make informed decisions.
Navigating the real estate market during these challenging times? I'm here to help.
Text me for personalized guidance on how to adapt to the current real estate landscape.
The concept of a "dream home" has evolved over the years, especially with advancements in technology and changing lifestyle needs. In this blog, we'll explore the top 10 must-have features that modern homebuyers are looking for.
Modern homes are all about convenience, comfort, and sustainability. Whether you're in the market for a new home or looking to upgrade your current one, consider these must-have features to elevate your living experience.
Interested in finding a modern home that ticks all these boxes? Let's make it happen.
Text me at for personalized recommendations tailored to your modern lifestyle needs.
Negotiating a real estate deal can be both exciting and nerve-wracking. Whether you're a buyer or a seller, knowing how to navigate negotiations can make a significant difference in the outcome. In this blog, we'll explore essential strategies to help you negotiate a real estate deal successfully.
Negotiating a real estate deal involves a combination of research, strategy, and emotional intelligence. By applying these tips, you can improve your negotiation skills and increase your chances of securing a favorable deal.
Ready to negotiate your next real estate deal but want expert guidance? I'm here to help.
Text me for personalized strategies tailored to your real estate negotiation needs.
The real estate industry is ever-evolving, influenced by economic factors, technological advancements, and societal shifts. As we look ahead, several key trends are emerging that could reshape the landscape of real estate. In this blog, we'll explore these future trends that both buyers and sellers should keep an eye on.
The future of real estate is set to be influenced by technological innovations, sustainability concerns, demographic shifts, and changing work patterns. By staying informed about these trends, buyers and sellers can make more educated decisions and adapt to the evolving market landscape.
Interested in learning more about how these future trends could impact your real estate decisions? Let's discuss.
Text me for personalized insights and guidance on navigating the future of real estate.
You've probably heard the phrase "location, location, location" when it comes to real estate. But what does it really mean, and why is it so crucial? In this blog, we'll delve into the importance of location in real estate and how it can impact your investment.
The location of a property is a multifaceted factor that influences its value, demand, and long-term investment potential. By carefully considering the location when buying real estate, you can make a smarter investment that pays off in the long run.
Ready to find the perfect location for your next real estate investment? Let's talk.
Text me for personalized guidance on choosing the best location for your real estate needs.
First impressions matter, especially when it comes to your home. Whether you're planning to sell your property or simply want to make it more inviting, enhancing your home's curb appeal can make a world of difference. In this blog, we'll explore practical and effective ways to boost your home's exterior attractiveness.
Improving your home's curb appeal doesn't have to be a daunting task. With some planning and effort, you can make your home more attractive and inviting. Whether you're looking to sell or simply want to enjoy a more beautiful home, these tips can help you achieve your goal.
Ready to take your home's curb appeal to the next level? Let's make it happen.
Text me for personalized advice and recommendations on enhancing your home's exterior.
Buying a home is one of the most significant investments you'll make in your lifetime. One crucial step in the home-buying process is the home inspection. But what exactly does it entail, and why is it so important? In this blog, we'll demystify home inspections and provide you with the information you need to navigate this essential step.
A home inspection is a vital step in the home-buying process that provides valuable insights into a property's condition. By choosing a qualified inspector and understanding what to expect, you can make more informed decisions and protect your investment.
Have more questions about home inspections or need recommendations for certified inspectors? I'm here to help.
Text me for personalized guidance on navigating the home inspection process.
The real estate industry has undergone significant changes in recent years, largely due to advancements in technology. From virtual tours to blockchain, technology is revolutionizing how we buy, sell, and manage properties. In this blog, we'll delve into the various ways technology is impacting the real estate sector.
Technology is playing an increasingly important role in the real estate industry, offering benefits to both buyers and sellers. From enhancing property viewings to streamlining transactions, technology is making the real estate process more efficient and user-friendly.
Interested in leveraging technology for your real estate needs? Let's connect.
Text me for personalized advice on how technology can benefit your real estate journey.
As the world grapples with climate change and environmental degradation, the concept of green homes is gaining traction. These eco-friendly residences offer a host of benefits, from energy efficiency to improved health. In this blog, we'll explore the various advantages of investing in a green home.
Investing in a green home offers a multitude of benefits, from financial savings to a healthier living environment. As the world moves towards more sustainable practices, green homes are not just a trend but a necessity for a better future.
Interested in making the switch to a green home? Let's explore your options together.
Text me for personalized advice on finding the perfect green home for you.
An open house can be a game-changer when it comes to selling your property. It offers potential buyers the opportunity to explore the home in person and envision themselves living there. However, preparation is key to making a lasting impression. In this blog, we'll go through a checklist of things to do before holding an open house.
Preparing for an open house may require some effort, but the payoff can be significant. By following this checklist, you can increase the chances of a successful open house and, hopefully, a quick sale.
Ready to hold an open house but need some expert guidance? I'm here to help.
Text me for personalized tips and strategies for a successful open house.
Owning property is not just a way to secure a home or investment; it also comes with various tax benefits that can save you money. Whether you're a first-time homeowner or a seasoned real estate investor, understanding these tax advantages can significantly impact your financial health. In this blog, we'll explore the key tax benefits of owning property.
Owning property comes with a variety of tax benefits that can save you money in both the short and long term. By understanding and taking advantage of these tax incentives, you can make your property ownership more financially rewarding.
Interested in exploring the tax benefits of owning property further? Let's discuss your options.
Text me for personalized advice on maximizing the tax benefits of your property ownership.
Buying your first home is an exciting milestone, but it also comes with its share of financial responsibilities. One of the most significant is the down payment, which can be a daunting sum for first-time homebuyers. In this blog, we'll guide you through the process of estimating the down payment for your first home.
Estimating the down payment for your first home may seem overwhelming, but breaking it down into manageable steps can make the process more straightforward. By understanding the basics, assessing your budget, and seeking professional advice, you can set a realistic savings goal.
Ready to take the first step towards homeownership but unsure about the down payment? I'm here to help.
Text me for personalized guidance on estimating the down payment for your first home.
Welcome to 181 Fremont, a masterpiece of architectural excellence that redefines luxury living in the heart of San Francisco. With its exceptional quality finishes, spacious units, breathtaking views, and an unmatched array of amenities, this iconic residential tower stands tall as a testament to elevated living. Moreover, its unwavering commitment to structural integrity ensures the utmost safety and peace of mind for its residents. Discover a world where opulence meets craftsmanship, where panoramic vistas and exclusive amenities combine to create an extraordinary living experience.
Uncompromising Quality Finishes:
At 181 Fremont, every detail has been meticulously crafted to deliver an unparalleled standard of luxury. As you step into the tower, you'll be greeted by a sense of grandeur and refinement that permeates throughout. The exquisite quality finishes exude sophistication, showcasing the meticulous attention to detail that sets this residence apart.
From imported marble and hardwood flooring to custom-designed cabinetry and top-of-the-line appliances, no expense has been spared in creating an environment of utmost elegance and functionality. The seamlessly integrated high-end fixtures and finishes ensure a seamless blend of luxury and practicality, elevating your living experience to new heights.
Spacious Units:
At 181 Fremont, spaciousness is paramount. The residences are meticulously designed to provide ample room for relaxation and self-expression. With a variety of thoughtfully planned floor plans available, including one, two, and three-bedroom layouts, each unit has been optimally configured to maximize space utilization and offer a sense of privacy.
The generously proportioned living areas are bathed in natural light, thanks to the floor-to-ceiling windows that frame captivating views of the city and beyond. The intelligently designed layouts seamlessly integrate living, dining, and entertaining spaces, creating an environment that is as versatile as it is luxurious. With abundant storage solutions and flexible configurations, these units cater to the unique needs and lifestyles of its discerning residents.
Breathtaking Views:
Prepare to be awe-inspired by the breathtaking views that await you at 181 Fremont. Perched high above the city, this residential tower offers sweeping vistas of San Francisco's iconic skyline, the shimmering bay waters, and the majestic beauty of the surrounding landscape. The floor-to-ceiling windows not only flood the units with natural light but also provide an ever-changing panorama that enhances every moment.
Whether you're starting your day with a cup of coffee or unwinding in the evening, the stunning views serve as a captivating backdrop, turning ordinary moments into extraordinary ones. The tower's prime location ensures residents are immersed in the vibrant energy of San Francisco, with easy access to cultural landmarks, dining, and entertainment options.
Unmatched Amenities:
At 181 Fremont, a world of exclusive amenities awaits, designed to enrich and enhance your lifestyle. The amenity package is thoughtfully curated to cater to the diverse needs of its residents, providing a seamless integration of luxury, comfort, and convenience.
The well-equipped fitness center offers state-of-the-art equipment and dedicated spaces for cardio, strength training, and yoga, allowing residents to prioritize their health and wellness without leaving the building. Unwind in the serene spa and steam room, or take a dip in the refreshing infinity-edge pool surrounded by lush landscaping, creating an oasis of tranquility in the heart of the city.
Additionally, 181 Fremont provides residents with a private lounge area, perfect for socializing or hosting gatherings, while a dedicated concierge team stands ready to cater to your every need, ensuring a seamless and unparalleled living experience.
Unyielding Structural Integrity:
Beyond the allure of luxury finishes, spacious units, breathtaking views, and exclusive amenities, 181 Fremont places the utmost importance on structural integrity, providing residents with a sense of safety and security that is unparalleled. As a building developer, we understand the paramount importance of constructing a tower that not only offers luxury but also withstands the test of time and external factors.
181 Fremont is built with cutting-edge engineering and advanced construction techniques. The tower stands tall as a beacon of strength and resilience, designed to withstand seismic activity and other potential hazards. Its robust structural system, including a reinforced concrete core and state-of-the-art damping technology, ensures stability and minimizes the impact of vibrations, creating a haven of tranquility within.
In fact, 181 Fremont holds the distinction of being the first mixed-use tower on the West Coast to be pre-certified LEED Platinum, demonstrating its commitment to sustainability and environmental responsibility. The integration of energy-efficient systems and environmentally conscious materials further solidifies its position as a forward-thinking residence.
181 Fremont represents the epitome of luxury living in San Francisco, where uncompromising quality finishes, spacious units, breathtaking views, unmatched amenities, and unwavering structural integrity converge. From the meticulously designed interiors to the captivating panoramic vistas, every aspect of this residential tower is carefully crafted to provide an extraordinary living experience.
Imagine waking up to panoramic views of the city, indulging in the finest finishes and materials, and immersing yourself in a world of exclusive amenities. At 181 Fremont, you have the opportunity to embrace a lifestyle of opulence, comfort, and convenience, all while enjoying the peace of mind that comes with residing in a structurally sound and resilient tower.
Don't miss your chance to be a part of this unparalleled residential community. Contact our sales team today to schedule a private tour and discover the allure of 181 Fremont firsthand. Let us guide you on a journey to find your dream unit in this architectural marvel that embodies the true essence of luxury living in the heart of San Francisco.
Selling a home can be a significant undertaking, especially in a competitive real estate market like San Francisco, California. Proper preparation is crucial to attract potential buyers and secure a successful sale. In this comprehensive guide, we will outline the essential steps to help you prepare your home for sale in the vibrant city of San Francisco.
Preparing your home for sale in San Francisco requires careful planning, attention to detail, and strategic marketing. By following these essential steps, you can enhance your home's appeal, attract potential buyers, and increase the chances of a successful sale in this competitive real estate market. Remember, partnering with a reputable real estate agent is crucial for a smooth and profitable selling experience.
If you need help putting a plan together, or would like to discuss selling you home, feel free to email me any questions you have and we can arrange a time.
Selling a home in San Mateo County, California, requires careful planning and preparation to capture the attention of potential buyers in this sought-after region. With its stunning coastal landscapes, vibrant communities, and proximity to Silicon Valley, San Mateo County offers a thriving and competitive real estate market. In this comprehensive guide, we will outline the essential steps to help you prepare your home for sale in this dynamic county of California.
Conclusion:Preparing your home for sale in San Mateo County requires careful attention to detail, thorough research, and a strategic marketing approach. By following these essential steps, you can enhance your home's appeal, attract potential buyers, and increase the likelihood of a successful sale in this dynamic and competitive real estate market. Partnering with a reputable real estate agent who understands the nuances of San Mateo County will greatly assist you throughout the process.
If you need help putting a plan together, or would like to discuss selling you home, feel free to email me any questions you have and we can arrange a time.
Written 10/14/2020
San Francisco and other high-density cities like New York and Chicago will return to their established prominence. There is no question in my mind. The following is an opinion piece on the psychological state of the population and how that relates to cities, corporate productivity, urban culture, and real estate value.
The 3 reasons why San Francisco will bounce back:
The human species in general has a very short-term memory. It’s true of almost every tragedy, just as it is of every accomplishment. We generally forget things pretty quickly. We forget our heroes, we forget about the people at our old workplace we had a conflict with, and we forget how we felt when we were with our ex’s.
We will forget about that time we weren’t allowed to be within 6 feet of each other.
Whether that’s in 2025, or 2028, nobody knows, but it will happen. You’ll link up with an old friend you spent a lot of time with during the pandemic and reminisce about how crazy the world was, with little to no recollection of the feelings you are feeling now. Harsh, but mostly true.
The current media push around mass exodus’ from major cities and plummeting real estate values is a dangerously short term view. Reasons for wanting more space, a house with a yard, and more square footage are all valid. Honestly, the best move I made was leaving the Mission and heading north to Tiburon. I love it here, summer has reminded me of my childhood being out in the ocean every day. I didn’t feel I had enough space to thrive where I was before the move, I lost creativity, I wasn’t performing well at work or showing up in my relationships.
I mention this to create context around short-term psychology; instant gratification. We are human after all, we run toward pleasure, but the stronger and more innate drive is to avoid pain at all costs.
Living in major cities during a lockdown, particularly downtown or in surrounding high-density areas, in buildings with beautiful amenities that are all closed due to COVID-19, isn’t fun. You hear the stories of the living conditions in downtown buildings right now, all gearing toward tails of confinement and isolation. The loneliness, the disconnection.
We are a tribe-based species, this was never going to bode well for us.
With numerous major companies ending their leases in San Francisco this summer, it’s easy to see a trend-line of a corporate exodus, too. But once again, dangerously near-sighted. The short-term (there’s that phrase again) gain from saving big bucks on leases while employees are working from home indefinitely is obvious. What’s not so obvious is the quality of work being performed from home.
After speaking with clients who run small to medium-sized businesses, it’s pretty clear none of them are happy with the current state of their company compared to their 2020 projections. Employee productivity & buy-in as well as company culture have taken a hit with Zoom meetings and virtual interaction. Not being able to see your favourite colleagues and work-friends every day has been tough for all of us. Those friendships were our escape from the suck of working day after day in pursuit of our professional goals. It takes a special breed to thrive on their own and outperform their previous bests in this current work environment.
Parents working from home with kids in the house have a substantially harder mountain to climb. They’ve adopted new roles throughout the workday that include lunch-maker, cleaner, participating in play-time, and running errands when school or daycare might have had those responsibilities in the past. The need to immediately develop the ability to focus for bursts of time between the kids banging on the office door because they can’t find food in the pantry sounds so difficult. I tip my hat to you for persevering.
The murmurings of employee unhappiness are rising, too. People are stuck at home in Zoom meetings during the workday, then doing the actual work of their jobs at all other hours of the day because there isn’t a whole lot else to do.
After all, you work at Google to ride bikes around campus, eat at the cafeterias and see your friends, not because you love staring at your laptop. I think an underlying feeling in the workforce is a lot of employees would quit their jobs if they could find work elsewhere.
It’s not as fun anymore.
No matter how good the technology enabling us to work remotely becomes, the tribal instinct will remain. We need to be around each other.
The Bay Area is expanding right now as people move farther and farther away from the epicenter of the Silicon Valley. If we are allowed to be within 6 feet of each other within a year or two, though, like an exhale after an inhale, the trend will reverse and the Bay Area will constrict. Moving to Sacremento sounded good for a few weeks there, but it’s hard to see the future of AI, Machine Learning, VR, and Cryptocurrency all finding enough talent to push the needle in the Central Valley.
As soon as we can be, it’s almost inconceivable for companies not to see to see the advantage of being in an urban environment and hotbed for employee talent. Having teams around each other in the same building has an immeasurably positive effect on businesses, from communication and training to culture and happiness, it’s hard to see our species shifting away from enjoying being around each other.
The businesses that endure and remain in the city will adopt all the talent of people that didn’t leave the city when their company did. Big corporate will race back to the security and infrastructure a big city provides, and people living in the suburbs will find themselves sitting in traffic on the bridge again.
We will reminisce about the time that we couldn’t be within 6 feet of each other, just like we forgot how scared we were about the Y2K Bug & and how convenient it was when our data was on USB drives and burnt CD’s instead of in 10lb binders.
When that day comes and you’re sitting around in the home that you bought at a discount during the pandemic in San Francisco, a mecca for innovation and growth, you will be grinning from ear to ear, proud that you acted on the instinct telling you now is a good time to buy.
Written September 21, 2020
An inflection point is nearing in the condominium market in San Francisco. Values can only drop for so long, or more appropriately said, the select group of buyers in the market could only retain their exclusivity for a certain period of time.
In analyzing buyer demographics over the past 3 months, condos and TIC’s took the biggest a hit when investors and pied-a-terre owners fell out of the market. In a regular market, these property types have 3-4 main buyer types:
Generally speaking, the more buyer types open to a property and the larger number of individuals in each group equals the demand.
Investors represent a significant portion of the market and caters for the number of privately owned rental properties available. With a growing trend of people leaving San Francisco in search of space, the city has seen more vacancies in rentals than ever before, leading to decreased rental values city-wide, particularly surrounding downtown. This trend has all-but caused the investor buyer pool to remove themselves from the market in search of more stability in ROI. I’ve long discussed with investors and sellers that an inflection point is nearing where opportunistic investors will see a shift in sentiment, where buy-in values are low enough to tolerate the risk of 6-12 months of decreased rental desirability, betting on the long-term stability of San Francisco as a real estate market. After all, few people have ever lost money investing in SF real estate. With 3 weeks straight of total sales increases, it seems that point upon us.
Those in the market for second-homes, or pied-a-terre buyers, looking to own a place in the city to come in on the weekends and spend time in the vibrancy of San Francisco seems to be a trend of the past, or at least momentarily on pause. Along with a variety of macro-economic factors leading to less-frivolous spending, the lifestyle these buyers were seeking as a result of the asset acquisition is also off the table. Restaurant restrictions, shows & theatres closed, and the night scene of the city severely hindered, it seems this buyer pool is out of the market for now.
Ironically, higher-end condo owners in San Francisco are now seeking pied-a-terre’s in the suburbs or in the foothills of the Seirra’s, offering them escape and tranquility from the busyness of the city when they don’t have to be localized to San Francisco anymore.
Sales data is showing a steady uptick in condominium & TIC sales dating back to the end of August, suggesting owner-occupant buyers are capitalizing on the decreased competition in the market.
The past 3 weeks:
*in District 5,D6,D7,D8 & D9
8/31 - 9/6 = # of condo /TIC’s pending: 29
9/7-9/13 = # of pending: 38
9/14 - 9/20 = # of pending: 43
The major condominium district’s surrounding downtown saw increased absorption rates (properties going into contract) over the past 3 weeks, suggesting an uptick in attention, showings, and buyers willing to submit offers on the north-eastern half of the city. Given real estate data is a lagging indicator of what’s actually happening in the market, it will be a telling data point to measure what these properties ultimately sell for in comparison to the 2019 market or even the early-pandemic market.
To carry over from my previous article, sellers are still finding themselves competing with other listings on the market to draw attention and attract more potential buyers to schedule in-person showings. This trend hasn’t slowed, if anything it’s enhanced. Price drops continue, re-photographing, and re-launching marketing campaigns is something we’re seeing more and more, as listing agents are doing everything they can to draw eyeballs to the property they’re selling.
In recent weeks, I strongly advised clients to let offer dates pass and submit our offers in the wake of a listing receiving little attention or traction. Seller psychology in those wake periods is usually when the best deals happen for buyers. Owners are finding themselves asking the difficult question of ‘Are We Willing To Take Less For Our Home Than Originally Desired?’ If no one bids or only an offer or two comes in well below expectation, sellers are forced to re-assess their ultimate goals.
This past week felt different from those previous, however. Properties that are priced well and were in decent to exceptional condition and in prime locations were going into contract within 7 days which is the speed they move in a regular market. We found ourselves suggesting that our clients write offers on certain properties in anticipation of multiple offers being presented again, and suggesting presenting our best and final from the jump. In multiple cases, we offered well above asking on properties and still came up short.
The overwhelming thought is owner-occupants are capitalizing on the exclusivity they have in the market while investors and second homeowners are paying attention elsewhere.
As always, reach out if you have any questions about the market.
The real estate market is a complex and dynamic industry that requires specialized knowledge and expertise to succeed. For those who specialize in selling luxury real estate, there are unique challenges and opportunities that come with catering to high-end clients. Though I'm far from an expert, let's explore some secrets & tactics to selling luxury real estate & tips to succeed in this competitive market.
Understanding Luxury Real Estate
Before diving into the specifics of selling luxury real estate, it's important to have a clear understanding of what sets this market apart from others. Luxury real estate typically refers to high-end properties that are priced well above the median home value in a given area. These properties often come with unique features and amenities, such as stunning views, custom finishes, and high-end appliances.
Selling luxury real estate requires a different approach than selling other types of properties. The buying process is often more complex, with buyers taking their time to carefully consider their options and weighing factors such as location, amenities, and prestige. As such, agents must be prepared to work closely with clients over a longer period of time and provide exceptional service and attention to detail. Listings will sit on the market longer, too, as buyers take their time in analysis.
For high-end listings, sellers have to be patient. Properties take longer to sell, and the skill of a good luxury agent is creating a game plan for expanding awareness over time, ensuring every buyer in the price point interacts with the property; online, or ideally in person.
Building a Brand
One of the key factors in selling luxury real estate is building a strong brand and reputation in the industry. This starts with creating a recognizable brand identity that reflects your values and unique selling proposition. Your brand should convey a sense of professionalism, expertise, and trustworthiness, while also highlighting your ability to cater to high-end clients.
In addition to creating a strong brand identity, it's important to establish yourself as a thought leader in the industry. Content marketing has been an amazing tool for me. Sharing thoughts and analysis on what I'm seeing on the happen in the market is such a simple, routine task for me with clients, and turning it into content has been instrumental for my brand. I've always figured people want to hear expert opinion, and really don't have much of an attention span for anything else.
Anyone on a real estate website is on there to learn more about real estate in a digestible & simple way. I've really enjoyed analyzing all local markets here in Marin & San Francisco as they all move differently, and property owners & buyers alike need to know the specifics if they want to play.
Targeting the Right Clients
Another key factor in selling luxury real estate is targeting the right clients. Unlike other types of properties, luxury real estate is marketed to a narrow segment of the population that can afford high-end properties. As such, it's important to have a deep understanding of your target audience and tailor your marketing efforts accordingly. Knowing who your buyer is ahead of time is half the battle.
This may involve targeting individuals who are part of exclusive clubs or organizations, such as golf clubs or yacht clubs. It may also involve partnering with high-end brands and retailers, such as luxury car dealerships or high-end fashion boutiques, to reach potential buyers. By understanding the interests and lifestyles of your target audience, you can develop more effective marketing strategies that speak to their unique needs and desires.
Developing a Comprehensive Marketing Strategy
When it comes to marketing luxury real estate, top brokers in luxury markets leave no stone unturned. They employ a comprehensive marketing strategy that encompasses a wide range of tactics and channels to reach potential buyers and showcase their properties in the best possible light. In this section, we'll explore some of the key components of a successful luxury real estate marketing strategy and provide examples of what top brokers are doing to market homes.
Creating Compelling Property Listings
One of the most important components of any luxury real estate marketing strategy is creating compelling property listings that grab the attention of potential buyers. Exceptional photography and videography is essential in the modern world, showcasing unique features and amenities of each property, highlighting everything from breathtaking views to custom finishes and high-end appliances. You have to highlight the detail. Detail is luxury.
Leveraging Social Media
If you don't have a following on social media, it's exponentially harder to get the word out there about new listings. Social media is an increasingly important channel for luxury real estate marketing, with platforms like Instagram and Facebook providing a powerful way to reach potential buyers and showcase properties. The best of the best can specifically target a similar demographic to buyers that have recently bought other luxury homes in the area, and deliver compelling, awe-inspiring content to get those people excited enough to book an appointment for a private showing.
If you don't have a following, you better know exactly how to get listings in front of end-buyers.
Hosting Open Houses and Private Events
Open houses and private events are a staple of luxury real estate marketing, providing an opportunity for potential buyers to view a property in person and get a sense of its unique character and features. Exceptional brokers use open houses and private events to showcase their properties to potential buyers, with an emphasis on creating a memorable and engaging experience. These events include private dinners, cocktail parties, or art exhibitions, with an emphasis on creating an experience that reflects the lifestyle and character of the property.
Whatever the best feature of the house/property is, plan an event around that exact thing, then get as many qualified prospects to attend by whatever means necessary. Getting buyers in the door is the hardest part.
One of my favourite lessons I took from my time selling Four Seasons Private Residences was the meticulous detail we went to in preparation for our clients to arrive, and the execution of the showing/presentation.
We would calculate every aspect of the appointment from how the lobby looked when they arrived, how they were greeted, how they were escorted through the building to the sales suite, and even how we served beverages & bites during the sales presentation. By controlling every aspect of the environment, we could tweak aspects of our pitch with precision and test results.
In the luxury market, I've always found it best to have a step by step strategy for every showing; knowing exactly the experience we are trying to create, the emotions we're looking to draw on, and the conclusions we want people to come to when standing in different prts of the home, always finishing with the jaw-dropper; the thing they've already said Yes to.
It's all just a dance, and my job is to script the best dance.
Above All; Provide Exceptional Service
Finally, providing exceptional service is key to transacting luxury real estate . Building strong relationships with clients & providing personalized service and attention to detail throughout the buying and selling process is essential for operating in the luxury sector. Luxury clients know how they like to be treated, and being anything less than exceptional becomes evident to the trained eye.
Agent-client relationships are 100% trust driven.
Countless deals fall apart in the luxury market when clients go rogue and start wreaking havoc in a deal. The challenge in the luxury sector is very few brokers have operated in that rarified air of 8 figure negotiations, and controlling clients who often do such things for a living can make or break a deal. The only real formula for success I've found is confidence, and preparation. Knowing every angle the other side could be coming from, and working overtime to ensure all parties are continuously pleased with progress has been a key ingredient to my higher priced sales.
I don't actually believe both parties can ever be truly satisfied in a negotiation, but getting them close enough can often be enough to reach a deal.
And so long as people get enough of what they want, and it off-sets the thing(s) they don't want, people usually say yes.
In the dynamic world of real estate, enhancing property value is both an art and a science. It involves a strategic blend of aesthetic improvements, functional upgrades, and savvy market positioning. Here are ten actionable strategies that can help you boost your property value in Burlingame, CA, and deliver tangible results.
The exterior of your home is the first thing potential buyers see. Enhancing curb appeal can significantly increase perceived value. Consider landscaping, painting the front door, or adding outdoor lighting to create a welcoming entrance.
The kitchen is often considered the heart of the home. Upgrading countertops, installing new appliances, or adding a fresh coat of paint can make a significant difference in your home's appeal and value.
Bathrooms are another key area where renovations can boost property value. Consider installing new fixtures, updating the vanity, or adding luxury touches like a walk-in shower or a soaking tub.
Energy-efficient homes are increasingly in demand. Consider installing energy-efficient appliances, upgrading insulation, or adding solar panels to increase your home's value and appeal to eco-conscious buyers.
Smart home features such as automated lighting, security systems, and smart thermostats can increase your home's value by enhancing convenience and security.
Open floor plans are popular among today's buyers. If possible, consider removing non-structural walls to create a more open, airy living space.
Creating an outdoor living space, such as a deck or patio, can extend the usable living area of your home and increase its value. Consider features like an outdoor kitchen, fire pit, or a well-appointed seating area.
Regular maintenance is key to preserving and enhancing your home's value. This includes everything from regular cleaning and painting to addressing any plumbing or electrical issues promptly.
Updating your home's interior design can significantly enhance its appeal. Consider fresh paint, modern lighting fixtures, and updated window treatments.
Professional home staging can help potential buyers visualize the potential of your home and can significantly increase its perceived value.
Boosting your property's value requires a strategic approach, understanding what today's buyers value, and making targeted improvements that deliver results. Whether you're planning to sell your home soon or simply want to enhance its value for the future, these strategies can help you achieve your goals.
If you need an agent in the area, I'd love to help. Book a call below, or send me a text and we can arrange a time.
The average sale price of a single-family home in Burlingame, CA in June 2023 was $2,973,750. This figure is derived from the sale prices of eight homes sold in that month, ranging from $1,750,000 to $4,350,000. The market showed a healthy mix of properties, with prices catering to a variety of budgets.
RocketHomes reported a 9.6% increase in the number of listings between May and June 2023, suggesting a vibrant market with a high turnover of properties. This is a positive indicator for both buyers and sellers, as it signifies a dynamic market with opportunities for all parties.
Comparing the average sale price in June to the overall performance in 2023, we can see a consistent demand for single-family homes in Burlingame. The robust real estate market, coupled with the town's desirable location and high quality of life, continues to attract buyers.
However, Redfin reported a 10.8% decrease in home prices in May 2023 compared to the previous year. This could be due to a variety of factors, including economic conditions, interest rates, and local market trends.
The average sale price of a condominium in Burlingame, CA in June 2023 was $1,206,625. This figure is derived from the sale prices of eight condos sold in that month, ranging from $668,000 to $1,715,000. The market showed a healthy mix of properties, with prices catering to a variety of budgets.
Comparing the average sale price in June to the overall performance in 2023, we can see a consistent demand for condominiums in Burlingame. The robust real estate market, coupled with the town's desirable location and high quality of life, continues to attract buyers.
Based on local media reports, the Burlingame real estate market has shown resilience in 2023 despite some fluctuations in prices. The demand for single-family homes and condominiums remains strong, reflecting the changing needs and preferences of homebuyers in the wake of the pandemic, with a clear shift towards larger, more flexible living spaces.
The overall trend suggests a preference for spacious, single-family homes, which offer the flexibility needed in the current climate. As more people work from home, the need for additional space for home offices, gyms, and outdoor living areas has become increasingly important.
The Burlingame real estate market has demonstrated its strength and resilience in 2023, with a robust market for single-family homes and condominiums. These trends reflect the changing needs and preferences of homebuyers in the wake of the pandemic, with a clear shift towards larger, more flexible living spaces.
If you have real estate questions, I'd love to help. Book a time in my calendar below.
Burlingame, California, is a city that offers a blissful blend of suburban comfort and urban convenience. Known for its tree-lined streets, vibrant downtown, and beautiful parks, Burlingame is a top choice for homebuyers. In this blog, we'll explore why Burlingame is a blissful destination for real estate investment.
Burlingame's real estate market is as diverse as its community. From charming bungalows to modern condos, the city offers properties that cater to various tastes and budgets. Whether you're a first-time homebuyer or looking to upgrade, Burlingame has something for everyone.
With top-rated schools and a strong sense of community, Burlingame is an ideal place for families. The city's commitment to education, recreational facilities, and community events creates a nurturing environment for residents of all ages.
Like other parts of California, Burlingame faces challenges in the real estate market. Homeowner insurance policies have become more difficult to acquire due to wildfire risks, impacting both buyers and sellers (source).
Burlingame's strategic location near San Francisco makes it a preferred choice for professionals working in the city. The excellent public transportation system and easy access to major highways add to the city's appeal.
Burlingame's real estate market is a blissful destination for those seeking quality living and investment opportunities. With a diverse property landscape, excellent education system, and strategic location, Burlingame continues to be a top choice for homebuyers. If you are looking for a home in the area, I'd love to help. Book a call below.
BURLINGAME, CA - The Burlingame luxury real estate market has reached a new high with the sale of a single-family home at 1240 Bayshore Hwy for a staggering $13,750,000 in June 2023. This sale underscores the positive trends and robust health of the luxury market in Burlingame, particularly for high-priced real estate sales.
The property at 1240 Bayshore Hwy represents the pinnacle of luxury living in Burlingame. While details of the property remain confidential due to the discrete nature of the transaction, the sale price alone speaks volumes about the desirability and exclusivity of Burlingame's luxury real estate market.
This record-breaking sale is not an isolated event but part of a broader positive trend in Burlingame's real estate market. The average sale price of a single-family home in Burlingame in 2023 stands at approximately $2,928,636, indicating a strong market for luxury homes.
The condominium market also shows promising trends, with an average sale price of approximately $1,084,083 in 2023. This suggests a diverse and healthy real estate market catering to various buyer needs and preferences.
The sale of the property at 1240 Bayshore Hwy is a testament to Burlingame's enduring appeal for luxury home buyers. Its strategic location, coupled with its unique blend of suburban charm and urban convenience, makes it a prime spot for luxury real estate.
As Burlingame continues to attract discerning buyers looking for luxury, exclusivity, and a high quality of life, we anticipate the luxury market to remain strong and vibrant. This record-breaking sale is a clear indication of the positive trajectory of Burlingame's luxury real estate market.
For more information about the Burlingame real estate market or to schedule a private consultation, please contact us. We specialize in luxury homes and serve a discrete and select clientele. We are committed to providing exceptional service and expert guidance in the Burlingame real estate market.
Here are the top 5 most expensive home sales in Burlingame, CA in June 2023:
These sales significantly exceed the average sale price of a single-family home in Burlingame in 2023, which is approximately $2,928,636. This demonstrates the wide range of home prices in Burlingame, with luxury properties reaching into the multi-million dollar range.
If you are looking for a home in the area, I'd love to help. Book a call below.
Investing in real estate can be a smart way to build wealth over the long-term. One strategy that has become increasingly popular in recent years is purchasing a property in your child's name with a low down payment. This approach can offer a range of benefits, from taxes to increased financial flexibility..
The FHA has loan program that allows parents to buy their children properties with 3.5% down so long as the child is an occupant in the property, which is perfect for parents investing in a property for their child to live in during college, or move out for the first time.
Requirements for Investing in a Property in Your Child's Name
In order to qualify for this type FHA loan, your child will be the legal owner of the property; they will be responsible for all taxes and fees associated with the property, but parents are allowed to cover all costs.
It is important to note that in most cases, FHA doesn't approve applicants co-borrowing if one of the borrowers won't be occupying the property. But blood relatives - such as children (or parents if any of us are lucky enough to be buying our parents houses) qualify for co-borrowers to come up with all of the down payment & carrying costs, even if they don't live there.
Another requirement is that the property must be a single-unit property, such as a house or condo. Multi-unit properties, such as apartment buildings, are not eligible for this type of loan.
One Of The Best Strategies Available
One of the best strategies I've come across for giving your child an immediate adulthood head start is to purchase the property they move into when they move out, or go to college, with a 3.5% down payment.
Yes, buy the college house they're going to trash. Put it in their name.. and see what they do with it.
For Example;
You could purchase a 3-4 bedroom house in Berkeley, California, for ~ $1,000,000 with a 3.5% down payment & a loan of ~ $965,000.
Once you've purchased the property, your son/daughter and their friends can become tenants for $1,500/room, which is a competitive local market rate in most of Berkeley. This rental income can be used to cover the monthly mortgage payments, which would be ~ $7,800 per month
'But thats a negative carry'.. sure.. for now.
Carrying costs associated with the property will also need to be factored into the investment for a period of 12-24 months until refinancing to a lower rate is doable. Assuming that interest rates are going down like the entire media world says they will, you can refinance at a lower rate and offset some/most of that gap.
The out-of-pocket expenses for this investment would be around $35,000 for the down payment, plus ~ $2,500 carry per month for 24 months for a total of $95,000 over the first two years of ownership assuming lower rates are 24 months out.
The best part; The numbers above are specifically for one of the most expensive real estate markets in the country. You can execute this strategy in any other college town (~ minus Stanford and a few others) with a much lower monthly payment & way less liability should the property sit vacant for a period of time.
Benefits of Investing in a Property in Your Child's Name
One of the key benefits of investing in a property in your child's name is that it can offer significant tax advantages. For example, if your child is in a lower tax bracket than you, they may be able to take advantage of deductions and tax credits that you may not be eligible for with a real estate asset in their name.
But financial flexibility has to be the best benefit here. If your kid needs money after college to get started in the real world, or any other lump sum life events, they can take out a home equity loan to access the equity built in the property during college while they were living in it.
Further Thoughts..
Investing in a property in your child's name can be a smart way to build wealth over the long-term. By purchasing a single-unit property with a low down payment as their first out-of-the-nest place to live, then renting it out to them & their friends can be a great way to generate rental income that can cover the most of the monthly mortgage payments.
Obviously, it's important to carefully consider the risks and benefits before making any investment decisions. After all.... college kids are college kids.
Selling a home in San Mateo County, California, provides an exciting opportunity to leverage the county's prime location, stunning natural beauty, and proximity to Silicon Valley. To maximize the value of your home and attract potential buyers in this competitive real estate market, it's essential to focus on strategic improvements and enhancements. In this comprehensive blog post, we will outline the crucial steps you can take to increase the value of your home before selling it in the captivating county of San Mateo.
Conclusion:Increasing the value of your home before selling it in San Mateo County requires careful attention to detail and strategic enhancements. By following these essential steps, you can enhance your home's appeal, attract potential buyers, and potentially secure a higher sale price. Collaborate with a reputable real estate agent familiar with the San Mateo County market to optimize your selling strategy.
If you need help putting a plan together, or would like to discuss selling you home, feel free to email me any questions you have and we can arrange a time.
One of the most daunting aspects of buying a home is the down payment. How much do you really need to save? Is the traditional 20% still the standard, or can you get away with less? This blog aims to demystify the complexities surrounding down payments, discussing various options, the impact on mortgage rates, and tips for saving.
The down payment is a crucial factor in the home-buying process, but it's not as rigid as many believe. Various options exist to accommodate different financial situations. The key is to understand your options and choose the one that aligns with your financial goals.
Confused about how much you need for a down payment? Contact Milana Real Estate for a personalized consultation. We can help you navigate the financial aspects of home-buying, ensuring you make the best decision for your future.
Making the decision to invest in real estate can be a financially rewarding endeavor, especially in areas like San Mateo County, California. Known for its affluent communities, proximity to Silicon Valley, and stunning coastlines, San Mateo County presents a diverse and promising real estate market. For novice investors, understanding the current real estate trends in the region is crucial. This guide seeks to highlight the essential factors contributing to San Mateo County's current real estate market trends.
The prominent influence in San Mateo County's real estate market is its thriving tech industry. As a hub for numerous tech companies and startups, the county attracts a large pool of high-income professionals, which drives high demand and prices for both property sales and rentals.
However, the shift towards remote work, spurred by the COVID-19 pandemic, has prompted some tech professionals to seek housing options outside the county's prime tech areas. This movement has led to some softening in the rental market and an increase in demand in outlying suburban areas.
The trend of "urban flight" has been influential in the San Mateo County real estate market. Changes in working patterns and a desire for more spacious housing have driven many residents to move from denser urban areas to more suburban or rural areas within the county.
This trend has led to increased demand for single-family homes with home offices and outdoor space, driving up home prices in these areas, while creating a softer condo market in the urban centers.
San Mateo County's condo market has seen some significant changes recently. Demand for condos in densely populated areas has slightly decreased, with more people opting for detached homes offering more privacy and access to outdoor space. Investors should keep an eye on this trend, as it could present investment opportunities at lower prices.
Despite being more affordable than neighboring San Francisco, San Mateo County still has one of the highest housing costs in the country. The high prices have resulted in lower homeownership rates compared to national averages, with many residents opting to rent instead. This trend creates opportunities for investors interested in rental properties, despite the high entry costs.
San Mateo County and its cities have several initiatives and regulations aimed at promoting affordable housing. Understanding these policies is crucial as they can impact the future of the real estate market and present potential investment opportunities in the affordable housing sector.
Investing in San Mateo County's real estate market requires a comprehensive understanding of the distinctive factors shaping its current trends. The tech industry's influence, urban to suburban migration, changes in the condo market, housing affordability, and government initiatives all play a pivotal role in the county's real estate landscape.
While these trends present certain challenges, they also open up unique opportunities for shrewd investors. For instance, the increased demand for suburban living presents opportunities for investment in larger properties in these areas.
Remember, successful real estate investment requires adaptability, patience, and a commitment to continuous learning. By staying informed of these evolving trends and adjusting your strategies accordingly, you can navigate San Mateo County's dynamic real estate market and pave the way towards a successful investment journey.
If you need help putting a plan together, or searching for you next property, feel free to email me any questions you have.
Written September 28, 2020
It’s no secret the condominium market has been deflated these past months, with buyers opting for the suburbs in search of space to work from home for the indefinite future.
However, a recent uptick in the San Francisco market is showing properties with certain features like outdoor space, private patios, and roof decks are back to selling at a familiar pace: Less than a week on market. They are all seeing heavy attention before they hit the market.
As it stands, there are more pocket listings available in San Francisco than any moment in the history of the city’s multiple listing service.
What that means for the consumer - there are plenty more options available than meet’s the public eye if you’re buying, and plenty more competitors if you are selling a home. Either way, these options are imperative to know of or have toured for a depth of market knowledge.
In the traditional condominium neighborhoods (*think everything east of Golden Gate Park) there are currently 124 coming soon/pocket listings.
With ~ 1400 properties already available on market, an additional ~120 listings available hardly seems like a dint. For buyers in the market though, a significant amount of opportunity exists off-market.
In the current state of the market, condominiums are sitting longer than previous years with desirability for backyards, outdoor space, and roof decks at a premium. Properties that feature 1 or more of these attributes are disappearing from the open market at a break-neck pace, similar to what we would expect in a regular market.
In 2020, listings with these features are selling faster than previous years due to the increased desirability for space and a private place to relax outside.
After all, having a private patio opens you up to an entirely different living experience. If this summer has taught us anything, being outside in this beautiful city is one of the most underrated and necessary components of the lifestyle we’re all accustomed to. Especially being in your own outdoor oasis without having to communicate with any of your neighbors! Bliss.
The best way to find these ideal home features is to dig through all off-market portals, as they tend to hit the market and get swooped up within the week.
With new requirements around how realtors disclose pocket listings, the number was bound to increase this year. No one could have predicted the amount to reach 3 digits, though.
Tapping into agent psychology, pocket listings act as a teaser before hitting the open market. Agents produce marketing material and distribute to the agent community to see who, if any, has buyers ready and waiting to pounce.
In a traditional market, this is the inherent value of a well-connected local realtor. In the pandemic market where some homes are sitting for 60-100 days, and others are selling in 2, this is where buyers will find the diamonds in the rough. With so many sellers fearing their Days On Market clock to get too high and affecting the perceived value of their property, some listings have been Coming Soon since March at this point. Will the ever actually come? Who knows. But you can buy them..
For a list of pocket listings in your price point, let me know what you’re looking for.
For novice real estate investors, understanding the past can be as crucial as anticipating the future. In San Francisco, one of the most dynamic real estate markets in the United States, this truth holds even greater weight. In this guide, we will journey back over the last decade to explore how San Francisco's real estate market has evolved, identifying the key factors contributing to current trends.
The past decade in San Francisco has been heavily influenced by the tech industry. Since the early 2010s, the city has witnessed a 'tech boom', with giants like Twitter and Uber setting up headquarters, and startups blossoming across the city. This influx of tech companies brought a wave of high-earning employees, significantly increasing demand for housing and subsequently driving up real estate prices.
This tech-driven real estate surge transformed the city's market, elevating it to one of the priciest in the country. Neighborhoods like South of Market (SoMa) experienced significant gentrification as tech companies and their employees moved in, leading to rapid appreciation in property values.
As real estate prices skyrocketed, San Francisco faced a growing affordability crisis. For many residents, homeownership became an unattainable dream, and even rental prices soared beyond reach. This led to socio-economic shifts in the city, with an exodus of middle and low-income residents and a widening wealth gap.
In response to the crisis, the city implemented various measures, including rent control policies and initiatives to increase affordable housing. These measures have helped some residents but have also introduced a new layer of complexity for real estate investors to navigate.
As a creative solution to high prices and limited space, the 2010s saw a rise in micro-units and co-living arrangements in San Francisco. Micro-units, small studio apartments optimized for space-efficiency, became a popular choice for single professionals willing to trade space for lower rent. Co-living, where individuals rent bedrooms in a shared apartment or house, also emerged as a cost-effective solution. These trends have introduced new opportunities for real estate investors.
The COVID-19 pandemic has undeniably shaped the recent trajectory of San Francisco's real estate market. As tech companies shifted to remote work, many employees, no longer tied to the city, moved to more affordable regions. This resulted in an 'urban flight' that softened the city's rental market and slowed home price appreciation.
On the flip side, demand for homes with extra space for home offices and outdoor living increased. The pandemic also prompted a reevaluation of high-density living, reducing demand for condos and boosting interest in single-family homes.
As we enter the 2020s, San Francisco's real estate market is in a state of adjustment. While prices remain high, the pace of growth has slowed, and the once red-hot rental market has cooled. However, the city's economic fundamentals remain strong, and the tech industry continues to be a significant market driver.
For investors, this period of adjustment presents both challenges and opportunities. Lower rental prices might squeeze returns in the short term but could offer lower entry points for property acquisition. The shift towards remote work opens up possibilities in the suburbs and secondary cities.
The past decade has seen San Francisco's real estate market undergo significant transformations, influenced by the tech boom, affordability crisis, innovative living arrangements, and a global pandemic. As we move forward, these trends continue to shape the city's real estate landscape.
Understanding this evolution is crucial for investors looking to navigate San Francisco's dynamic market. Today's market presents a myriad of opportunities for those willing to adapt their strategies to these evolving trends and tackle the city's unique challenges.
Real estate investment is a journey marked by continuous learning, adaptability, and patience. As you keep pace with San Francisco's ever-changing real estate landscape, remember that every market cycle brings its own set of opportunities. It's about spotting them and making the right moves at the right time.
If you need help putting a plan together, or searching for you next property, feel free to email me any questions you have.
Selling a home in San Francisco, California, can be a rewarding but challenging experience, considering the competitive real estate market. To maximize your home's value and attract potential buyers, it's crucial to make strategic improvements and enhancements. In this extensive blog post, we will outline the most important steps you can take to increase the value of your home before selling it in the vibrant city of San Francisco.
Increasing the value of your home before selling it in San Francisco requires careful planning and strategic improvements. By following these important steps, you can enhance your home's appeal, attract potential buyers, and potentially secure a higher sale price. Consult with a reputable real estate agent who is knowledgeable about the San Francisco market to further optimize your selling strategy.
If you need help putting a plan together, or would like to discuss selling you home, feel free to email me any questions you have and we can arrange a time.
For novice investors stepping into the real estate world, a comprehensive understanding of the market's historical trajectory can be just as important as studying current trends. This fact is particularly pronounced in dynamic markets such as San Mateo County, California. In this guide, we'll retrace the past decade, pinpointing key factors that have molded the present condition of San Mateo County's real estate market.
The past decade in San Mateo County has been strongly influenced by the tech industry. It's no secret that the county's proximity to Silicon Valley has been a significant factor in its real estate market. As tech giants expanded and startups sprouted, they brought in a surge of high-income professionals, creating substantial demand for housing and pushing up real estate prices.
This tech-driven real estate boom transformed San Mateo County's market, making it one of the most expensive in the country. Areas like Menlo Park and Palo Alto witnessed a notable rise in property values, presenting lucrative opportunities for real estate investors.
As a consequence of the tech boom and escalating real estate prices, San Mateo County faced its own housing affordability crisis. For many residents, homeownership became increasingly elusive, pushing rental prices higher. This growing disparity led to shifts in the county's demographic make-up and sparked numerous initiatives aimed at increasing affordable housing. For real estate investors, understanding these measures is critical.
The past decade saw a growing trend towards suburban living in San Mateo County, a pattern further accelerated by the COVID-19 pandemic. As companies embraced remote work, many employees sought housing options that offered more space, privacy, and connection to nature. This shift increased demand for single-family homes, particularly those with home offices and outdoor space, driving up prices in suburban areas.
San Mateo County, known for its diverse natural beauty, also has environmental considerations that affect its real estate market. These include coastal regulations, fire and flood risks, and land use restrictions, all of which can influence property values and investment potential. Over the past decade, awareness and impact of these factors have grown, shaping real estate trends and investor decisions.
The last decade in San Mateo County's real estate market has been marked by the tech boom, housing affordability challenges, a shift towards suburban living, and increased environmental considerations. As we move forward, these influences continue to shape the county's real estate landscape.
For investors, understanding this evolution is crucial for successfully navigating San Mateo County's dynamic real estate market. While the market presents unique challenges, it also offers opportunities for those who can adapt and strategize accordingly. For instance, the increased demand for suburban homes presents potential investment opportunities in these areas.
Remember, successful real estate investing requires continuous learning, adaptability, and patience. As you stay informed of these evolving trends and adjust your strategies accordingly, you can navigate San Mateo County's dynamic real estate market and pave the way for a successful investment journey.
If you need help putting a plan together, or searching for you next property, feel free to email me any questions you have.
When it comes to home improvements, not all investments are created equal. Some upgrades offer a high return on investment (ROI), while others may not significantly increase your home's value. The key is to identify cost-effective improvements that can enhance your property's appeal and market value. Let's explore some of these strategies.
A fresh coat of paint is one of the most cost-effective ways to transform your home. Whether it's a vibrant exterior color or a soothing interior palette, paint can significantly enhance your home's aesthetic appeal and perceived value.
Landscaping is another cost-effective way to boost your home's value. Well-maintained gardens, new flower beds, or even a few strategically placed potted plants can create a positive first impression and enhance curb appeal.
Kitchen renovations can be expensive, but small, cost-effective upgrades can also make a big difference. Consider painting cabinets, upgrading hardware, or installing a stylish backsplash to refresh your kitchen's look without a complete remodel.
Like kitchens, bathrooms are key selling points. Cost-effective improvements like re-grouting tiles, replacing faucets, or adding a new vanity mirror can give your bathroom a modern, elegant look.
Improving your home's energy efficiency can offer significant ROI in the long run. Consider installing LED lighting, upgrading to energy-efficient appliances, or adding a programmable thermostat for potential energy savings.
Updating your flooring can be a cost-effective way to add value. Consider refinishing hardwood floors or replacing old carpet with laminate or tile for a fresh, modern look.
Adding storage solutions, such as built-in shelves or closet organizers, is a practical and cost-effective way to enhance your home's appeal. Efficient use of space is a key selling point for many buyers.
Creating an inviting outdoor living space can significantly increase your home's value. Consider adding a patio, deck, or even a simple seating area to make the most of your outdoor space.
By focusing on these cost-effective improvements, you can enhance your home's appeal and value without breaking the bank. Remember, the goal is to make strategic investments that offer a high return on investment, making your home more appealing to potential buyers.
If you need an agent in the area, I'd love to help. Book a call below, or send me a text and we can arrange a time.
The Marin real estate market shifted into new territory in Q1, shedding the weight of the drastic rate-hike market and re-balancing itself into a more normalized market comparative to the rest of the country.
Typical markets see homes sitting for 21-30 days before selling, with the best turnkey properties being the ones attracting the most attention and selling above asking. Although Marin has seldom operated in parallel with 'normal', it seems we're now getting a taste of it.
Properties priced right & presented well are still moving quickly, but anything less-than turnkey, especially if it's priced inline with a 3% rate market rather than today's rates, DOM will accumulate. With higher rates we are seeing monthly payment affordability issues & pricing needs to reflect this.
Median Market
The median single-family home market in Fairfax was the epitome of slow; 4 sales in Q1 vs an average of ~ 20 sales per quarter in 2022, aka down 80% in volume.
Unfortunately, Fairfax is a low volume & low demand market compared to its neighbors, given the additional 10 - 15 minutes from 101 to access San Francisco and destinations north, the buyer pool has shown to favor more accessibility and larger markets like San Rafael. Higher volume markets see values swing faster than low, catering to more buyers getting good deals.
The average price for a home in Fairfax has started to 400k dive, but the time it's taking to sell has sped up quickly for turnkey, well-priced homes.
Luxury Market
There were no luxury property sales in Fairfax in Q1. Typically this market segment only sees 1 or 2 sales per quarter, making this less of an anomaly than it seems.
The general theme of macro-economic activity is more-of-the-same. We're seeing a steady diet of stress events like Silicon Valley Bank's collapse and the sell off of others, First Republic flailed for a moment which caused the entire real estate market to hold it's breath (FR is San Francisco's leading residential mortgage lender), and tech companies are laying off employees and axing non-revenue generating business activity, all typical during periods of tightening.
Also, the fed raises rates again at the turn of Q2 by 25bp and plans of doing this a few more times. However, and this is a BIG however, California is a sunshine state. People don't go to open houses in the rain (we're ridiculous, yes). With the sun back out, I wouldn't be surprised if we saw a flurry of activity.
Learn more about Fairfax
If you have any questions, text me.
In the digital age, first impressions are often made online. High-quality, professional real estate photography can significantly enhance a property's online presence, capturing its best features and drawing in potential buyers.
Professional photographers have the skills, equipment, and editing software to produce high-quality images that showcase your property in the best light.
A professional photographer can highlight key features of your property, from architectural details to stunning views, creating a compelling visual narrative.
Professional photographers often work with home stagers or real estate agents to ensure the property looks its best, helping to attract potential buyers.
Virtual tours have become a vital tool in real estate marketing, allowing potential buyers to explore properties from the comfort of their own homes.
Virtual tours provide 360-degree views of a property, giving potential buyers a comprehensive look at the space.
Virtual tours can be accessed at any time, from anywhere, making it easy for potential buyers to view your property at their convenience.
Virtual tours offer an interactive experience, allowing users to navigate through the property as they wish, focusing on areas of interest.
Video marketing goes beyond static images to tell a story, providing a dynamic view of your property and its surroundings.
Video marketing allows you to showcase the lifestyle your property offers, from local amenities to the atmosphere of the neighborhood.
Videos are engaging and can be shared across various platforms, increasing your property's visibility.
Videos can include personal touches, such as a message from the homeowner or agent, creating a connection with potential buyers.
Professional photography, virtual tours, and video marketing are powerful tools in real estate marketing. By leveraging these visual tools, you can enhance your property's online presence, attract potential buyers, and ultimately, sell your property more quickly and for a better price.
If you need an agent in the area, I'd love to help. Book a call below, or send me a text and we can arrange a time.
Larkspur is a charming town located in Marin County, California, just north of San Francisco. The town is known for its picturesque setting, historic buildings, and vibrant community. With a population of around 12,000 residents and an area of approximately 3.2 square miles, Larkspur offers a small-town atmosphere that is both welcoming and distinctive.
The town of Larkspur has a rich history that dates back to the mid-1800s when it was founded as a stop along the Northwestern Pacific Railroad. The town grew quickly and became a hub for agriculture and commerce, with many businesses and industries setting up shop in the area. Today, Larkspur is known for its historic downtown district, which features many well-preserved buildings from the town's early days, including the Larkspur Landing, which is a National Historic Landmark.
One of the main attractions in Larkspur is the downtown area, which is home to several restaurants, shops, and galleries. The area is particularly known for its charming architecture, which includes a mix of Victorian, Italianate, and other historic styles. One of the most iconic buildings in downtown Larkspur is the Lark Theater, which was built in 1936 and is now a popular destination for movies, live music, and other cultural events.
Another popular destination in Larkspur is the Marin Country Mart, which is a shopping center that features several high-end boutiques, restaurants, and cafes. The Marin Country Mart is known for its beautiful outdoor setting, which includes several landscaped courtyards and gardens, as well as a farmers' market that takes place every Saturday.
Larkspur is also home to several parks and open spaces, including the Baltimore Canyon Open Space Preserve, which features over 1,000 acres of hiking and biking trails, as well as stunning views of Mount Tamalpais and the surrounding hills. Other popular parks in Larkspur include Piper Park, which features several sports fields and playgrounds, and King Mountain Open Space Preserve, which is a favorite destination for hikers and nature lovers.
One of the most unique features of Larkspur is its commitment to sustainability and environmentalism. The town has implemented several programs and initiatives aimed at reducing its carbon footprint and promoting sustainable living, including a bike share program, a community garden, and a zero-waste initiative. Larkspur is also home to several LEED-certified buildings, which are designed to be energy-efficient and environmentally friendly.
For those who enjoy cultural events and festivals, Larkspur offers several options throughout the year. The Larkspur Flower & Food Festival, which takes place every June, is one of the most popular events in the town and features live music, food vendors, and a parade. The Larkspur Art & Wine Festival, which takes place every September, is another popular event that features the work of local artists and wineries.
Overall, Larkspur is a beautiful and vibrant town that offers something for everyone. Whether you're interested in exploring the town's rich history, enjoying its natural beauty, or simply soaking up its small-town charm, Larkspur is a must-visit destination in the San Francisco Bay Area. Its commitment to sustainability, cultural events, and community engagement make it a truly special place to visit or call home.
Located in Marin County, California, Fairfax is a small town with a population of approximately 7,500 residents. The town has a rich history, vibrant community, and an eclectic mix of shops, restaurants, and cultural attractions. In this description of Fairfax, we will explore the town's history, notable landmarks, community events, and natural beauty, drawing on local insight from official town websites, online resources, and community members.
History
Fairfax was originally inhabited by the Coast Miwok people for thousands of years before Spanish colonizers arrived in the area in the 1700s. The town was established in the late 1800s and was named after Lord Charles Snowden Fairfax, a prominent English politician who was the first recorded owner of the land. In the early 1900s, Fairfax became a hub for the lumber industry and was also home to several dairies and farms.
During the 1960s and 1970s, Fairfax became known as a center of counterculture and a hub of activism. The town was home to several famous musicians, including Jerry Garcia of the Grateful Dead, and hosted numerous concerts and music festivals. Today, Fairfax retains much of its bohemian character and has a thriving arts community.
Landmarks
One of the most notable landmarks in Fairfax is the Fairfax Theater, a historic movie theater that has been in operation since the 1920s. The theater features a wide variety of films, including independent and foreign films, and hosts special events throughout the year.
Another landmark is the Fairfax Pavilion, a community center that hosts a variety of events, including concerts, festivals, and weddings. The Pavilion has a large dance floor, a stage, and a bar, making it a popular spot for live music and other performances.
The town also has several historic buildings, including the Fairfax Women's Club, which was established in 1920 and has served as a community center for nearly a century. The club hosts a variety of events and meetings and is available for rental for private events.
Community Events
Fairfax has a lively calendar of events throughout the year, including the Fairfax Festival, a two-day event that takes place in June and features live music, food vendors, and arts and crafts booths. The festival also includes a parade and a children's area with rides and games.
In the fall, Fairfax hosts the annual Fairfax Brewfest, which features local breweries and food vendors, live music, and games. The event is a fundraiser for the Fairfax Parks and Recreation Department and is a popular gathering for locals and visitors alike.
The town also hosts a weekly farmers' market, where visitors can find a variety of fresh produce, artisanal foods, and handmade crafts. The market takes place every Wednesday from May to October.
Natural Beauty
Fairfax is surrounded by natural beauty, including several parks and open spaces. The town is located near Mount Tamalpais State Park, a popular destination for hiking, mountain biking, and scenic drives. The park has several trails of varying difficulty, including the popular Dipsea Trail, which runs from Mill Valley to Stinson Beach.
In town, visitors can enjoy the Fairfax Open Space Preserve, a 100-acre park that features hiking trails, picnic areas, and a nature center. The preserve is home to a variety of wildlife, including deer, coyotes, and several species of birds.
The town is also located near several lakes and reservoirs, including Alpine Lake, which offers fishing, kayaking, and hiking opportunities.
The Marina is a bustling neighborhood located in the northern part of San Francisco, California. Known for its affluent population and upscale atmosphere, the area is a hub for outdoor recreation, shopping, dining, and nightlife. With its prime location on the water and close proximity to some of the city's most popular attractions, The Marina has become a popular destination for tourists and locals alike.
The Marina was built on what was once a marshy area of the city, but has since been transformed into a vibrant neighborhood with a distinctive character. It is bordered by the Golden Gate Bridge to the northwest, the Presidio to the west, the Russian Hill neighborhood to the south, and the bay to the north and east. The neighborhood is primarily residential, with a mix of single-family homes and multi-unit buildings.
One of the main draws of The Marina is its stunning views of the Golden Gate Bridge and the San Francisco Bay. The waterfront area, known as Marina Green, is a popular spot for locals and tourists to picnic, jog, walk their dogs, and enjoy outdoor activities such as sailing and windsurfing. From here, visitors can also catch a ferry to nearby destinations such as Alcatraz Island or Sausalito.
Chestnut Street is the main commercial thoroughfare of The Marina, offering an array of shopping and dining options. The street is lined with trendy boutiques, artisanal food markets, and upscale restaurants. One popular spot is A16, an Italian restaurant that serves authentic Neapolitan pizza and a wide selection of Italian wines. Another popular destination is The Plant Cafe Organic, a health-focused restaurant that serves organic, vegetarian and vegan fare.
The Marina is also home to the Palace of Fine Arts, an iconic landmark of San Francisco. The Palace was built for the 1915 Panama-Pacific Exposition and is one of the few remaining structures from the fair. Today, it is a popular destination for photography and events, and the surrounding park is a popular spot for picnics and outdoor gatherings.
Another notable attraction in The Marina is the Wave Organ, an interactive acoustic sculpture that uses the sound of the waves to create musical tones. Located on a jetty in the bay, the Wave Organ is a unique and fascinating installation that is worth a visit.
Despite its upscale reputation, The Marina also has a thriving nightlife scene. Many of the bars and nightclubs in the area are geared towards a younger crowd, with a lively atmosphere and a variety of music genres. Some popular spots include the Tipsy Pig, a gastropub with a large selection of craft beers and cocktails, and the MatrixFillmore, a nightclub that has been a staple of the San Francisco nightlife scene for over 20 years.
The Marina is also home to several annual events and festivals that draw visitors from all over the city. One such event is the San Francisco Fleet Week, a celebration of the nation's military that features an air show, ship tours, and other military demonstrations. Another popular event is the annual Bay to Breakers footrace, which begins in the Financial District and ends in The Marina.
Overall, The Marina is a dynamic and exciting neighborhood that offers something for everyone. With its stunning waterfront views, vibrant commercial scene, and lively nightlife, it is no wonder that it has become one of the most popular destinations in San Francisco. Whether you are a first-time visitor or a long-time resident, The Marina is definitely worth exploring.
Marin County is located in the North Bay region of the San Francisco Bay Area, California, United States. It is known for its stunning natural beauty, expansive parklands, and charming towns. With a population of over 260,000 people, it is the smallest county in the Bay Area, both in terms of land area and population. Despite its small size, Marin County is a popular destination for tourists and a highly desirable place to live.
Marin County boasts over 80 parks and preserves, offering visitors and residents an abundance of outdoor activities. The county is home to the world-famous Muir Woods National Monument, a 550-acre park known for its towering old-growth redwood trees. The Marin Headlands, part of the Golden Gate National Recreation Area, offer stunning views of the Golden Gate Bridge, San Francisco Bay, and the Pacific Ocean. The Point Reyes National Seashore, located on the western edge of the county, is a vast wilderness area with rugged coastline, secluded beaches, and diverse wildlife.
Marin County's towns and cities also offer a range of cultural and recreational opportunities. The county seat, San Rafael, is home to the Marin Civic Center, a striking architectural masterpiece designed by Frank Lloyd Wright. The center is both a governmental hub and cultural center, with a public library, farmers market, and a variety of events throughout the year.
The town of Mill Valley, located at the base of Mount Tamalpais, is known for its charming downtown area, with numerous boutique shops, cafes, and restaurants. It is also home to the Mill Valley Film Festival, an annual event that attracts filmmakers and movie lovers from around the world.
Another popular destination in Marin County is the town of Sausalito, located on the bay just north of the Golden Gate Bridge. Sausalito is known for its picturesque waterfront, with views of San Francisco and Angel Island. The town's Main Street is lined with art galleries, boutique shops, and restaurants, making it a popular destination for tourists and locals alike.
Fairfax, a small town nestled in the hills of central Marin County, is known for its vibrant music scene, with numerous live music venues and annual music festivals. The town is also home to a variety of outdoor recreation opportunities, including hiking, mountain biking, and camping in nearby Mount Tamalpais State Park.
The city of Novato, located in the northern part of the county, is home to the Buck Institute for Research on Aging, a world-renowned research institution dedicated to studying the biology of aging and age-related diseases. Novato also boasts several golf courses, including the StoneTree Golf Club, which has been recognized as one of the best golf courses in California.
Marin County is also home to a number of excellent schools, including the Tamalpais Union High School District, which serves several of the county's high schools, and the Marin County Office of Education, which oversees the county's public schools. The county's public schools consistently rank among the best in the state, with high graduation rates and strong academic programs.
In addition to its natural beauty and cultural attractions, Marin County is also known for its commitment to sustainability and environmental stewardship. The county has implemented a number of initiatives to reduce its carbon footprint, including promoting public transportation, encouraging the use of renewable energy, and supporting local agriculture.
Overall, Marin County is a unique and beautiful destination that offers a range of experiences for visitors and residents alike. Whether you're looking for outdoor adventure, cultural enrichment, or a peaceful retreat, Marin County has something to offer.
Mill Valley is a charming town located in Marin County, California, just a short drive north of San Francisco. The town is nestled among the rolling hills and redwoods of Mount Tamalpais, offering a beautiful natural setting and a unique small-town vibe. Mill Valley has a population of around 14,000 residents and covers an area of approximately 4.8 square miles.
The town of Mill Valley has a rich history that dates back to the mid-1800s when it was founded as a small logging and farming community. In the early 1900s, Mill Valley became a popular destination for artists and writers, who were drawn to the town's beautiful scenery and creative community. Today, Mill Valley is still known for its artistic and cultural heritage, as well as its natural beauty and outdoor recreation opportunities.
One of the main attractions in Mill Valley is the Mount Tamalpais State Park, which covers over 6,000 acres of land and offers miles of hiking and biking trails, as well as stunning panoramic views of the Bay Area. The park is home to several campgrounds, picnic areas, and scenic overlooks, and is a popular destination for outdoor enthusiasts of all ages. Visitors can also explore the Muir Woods National Monument, which is located just a short drive from Mill Valley and is home to some of the tallest trees in the world.
Another popular destination in Mill Valley is the downtown area, which is home to several restaurants, shops, and art galleries. One of the most iconic buildings in downtown Mill Valley is the Mill Valley Depot, which was built in 1890 and is now home to a restaurant and event space. The downtown area is also home to the historic Sweetwater Music Hall, which has hosted many famous musicians over the years and continues to be a popular destination for live music and entertainment.
One of the most unique features of Mill Valley is its eclectic mix of architectural styles, ranging from historic Victorian homes to modernist masterpieces. Some of the most notable examples of modernist architecture in Mill Valley include the homes designed by architects such as Joseph Esherick, William Wurster, and Charles Moore. These homes feature clean lines, simple forms, and a strong connection to the surrounding natural environment, reflecting the town's commitment to preserving its natural beauty and promoting sustainable living.
Mill Valley is also known for its excellent public schools, which are consistently ranked among the top schools in the state. The Mill Valley School District includes five elementary schools, one middle school, and one high school, all of which are known for their strong academic programs and supportive community.
For those who enjoy cultural events and festivals, Mill Valley offers several options throughout the year. The Mill Valley Film Festival, which takes place every October, is one of the most popular events in the town and attracts filmmakers and movie enthusiasts from around the world. The Mill Valley Arts Festival, which takes place every September, is another popular event that features the work of over 140 artists and craftsmen.
Overall, Mill Valley is a beautiful and unique town that offers something for everyone. Whether you're interested in outdoor recreation, arts and culture, or simply enjoying the town's beautiful natural setting, Mill Valley is a must-visit destination in the San Francisco Bay Area. Its rich history, vibrant community, and commitment to sustainability make it a truly special place to visit or call home.
North Beach, also known as "Little Italy," is a vibrant and colorful neighborhood located in the northeastern part of San Francisco. This neighborhood is known for its Italian-American heritage, stunning views of the bay and Coit Tower, and rich cultural history. With its narrow, winding streets, historic architecture, and bustling restaurants and cafes, North Beach is a favorite destination for locals and visitors alike.
North Beach has a fascinating history, dating back to the early days of San Francisco. In the mid-19th century, the area was home to a large number of Italian immigrants who came to San Francisco to work on the city's growing waterfront. Over time, the Italian-American community in North Beach grew and thrived, giving rise to a rich cultural legacy that can still be seen today. Today, North Beach is home to some of San Francisco's most iconic landmarks, including Coit Tower, Washington Square Park, and the Transamerica Pyramid.
One of the most popular attractions in North Beach is Coit Tower, a 210-foot tower that offers breathtaking views of San Francisco and the Bay. Built in 1933, the tower was a gift to the city from Lillie Hitchcock Coit, a wealthy socialite who left a significant sum of money in her will to fund a civic project. Today, visitors can take the elevator to the top of the tower for panoramic views of the city, or explore the colorful murals that line the walls of the tower's ground floor.
Another popular destination in North Beach is Washington Square Park, a public park that serves as the heart of the neighborhood. The park is a popular spot for locals and visitors to relax and soak up the sun, and it's also home to several annual events, including the North Beach Festival and the Italian Heritage Parade.
North Beach is also famous for its restaurants and cafes, which offer a wide variety of Italian cuisine and other international dishes. From traditional Italian restaurants like the legendary Tosca Cafe, which has been a neighborhood staple since 1919, to modern cafes like Cafe Trieste, which has been serving up delicious espresso drinks and pastries since 1956, North Beach is a food lover's paradise. The neighborhood is also home to several popular bars and nightclubs, including Vesuvio Cafe, which has been a favorite hangout for artists, writers, and poets since the 1950s.
In addition to its many attractions and cultural landmarks, North Beach is also known for its vibrant arts scene. The neighborhood is home to several galleries and performance spaces, including the Beat Museum, which celebrates the legacy of the Beat Generation writers who called North Beach home in the 1950s and 1960s.
One of the unique features of North Beach is its diverse architecture. The neighborhood is home to a mix of historic buildings, modern high-rises, and charming, Victorian-era homes. Many of the homes in North Beach are built on hillsides, which gives the neighborhood a distinctive, hilly feel. The neighborhood is also known for its colorful, ornate fire escapes, which can be seen on many of the neighborhood's historic buildings.
North Beach is also home to several well-regarded schools, including the San Francisco Art Institute, which has been a center for artistic expression and experimentation since its founding in 1871. The neighborhood is also home to several public and private elementary and middle schools, including St. Peter and Paul School, which is run by the Archdiocese of San Francisco.
Despite its many attractions and amenities, North Beach has not been immune to the challenges facing San Francisco in recent years. Like many neighborhoods in the city, North Beach has seen rising housing costs, a shortage of affordable housing, and increased homelessness. Despite these challenges, however, North Beach remains a vibrant and beloved neighborhood that attracts visitors
Pacific Heights is a neighborhood in San Francisco, California, known for its stunning views of the city and the bay, upscale homes, and charming streets lined with trees. It is one of the city's most affluent neighborhoods, attracting residents who appreciate its elegant Victorian and Edwardian architecture, world-class restaurants, and boutique shops. Pacific Heights is a highly desirable place to live, work, and visit, offering a mix of urban amenities and natural beauty.
The history of Pacific Heights dates back to the late 19th century when the neighborhood was developed by wealthy families who sought to escape the crowded and polluted downtown area. They built grand mansions and stately homes along the hills overlooking the city, creating a picturesque neighborhood that remains one of the most coveted addresses in San Francisco. Today, Pacific Heights is a mix of historic mansions and modern luxury homes, with tree-lined streets that offer stunning views of the city and the bay.
One of the main attractions in Pacific Heights is the neighborhood's architecture. The area is known for its elegant Victorian and Edwardian homes, many of which have been lovingly restored and maintained over the years. The neighborhood features a mix of architectural styles, including Italianate, Queen Anne, and Stick-style, among others. Some of the most iconic buildings in Pacific Heights include the Haas-Lilienthal House, a beautifully preserved Victorian home that is now a museum, and the Spreckels Mansion, a grand mansion that was once owned by sugar magnate Adolph Spreckels.
Another popular attraction in Pacific Heights is its vibrant dining scene. The neighborhood is home to several world-class restaurants, including the Michelin-starred Spruce, which offers upscale American cuisine in an elegant setting, and State Bird Provisions, a popular restaurant that serves creative small plates and cocktails. Other popular restaurants in Pacific Heights include the Japanese-inspired Roka Akor, the French bistro La Folie, and the Italian restaurant Delfina.
For those who enjoy shopping, Pacific Heights offers a mix of high-end boutiques and independent shops. Fillmore Street is the main shopping street in the neighborhood, featuring a mix of luxury brands like Marc Jacobs and Tory Burch, as well as local shops like the boutique fragrance store Le Labo and the artisanal chocolatier Socola Chocolatier. Other popular shopping destinations in Pacific Heights include the upscale department store Gump's and the luxury home goods store Jonathan Adler.
One of the most unique features of Pacific Heights is its natural beauty. The neighborhood is located on a hill overlooking the city and the bay, offering stunning views that are unmatched anywhere else in San Francisco. Residents and visitors alike can enjoy scenic walks along the neighborhood's tree-lined streets, taking in the sights and sounds of the city while surrounded by natural beauty. The neighborhood is also home to several parks, including Lafayette Park, which features a playground, tennis courts, and a dog park.
Overall, Pacific Heights is a beautiful and sophisticated neighborhood that offers a mix of urban amenities and natural beauty. Its elegant architecture, world-class restaurants, and upscale shops make it a highly desirable place to live, while its stunning views and tree-lined streets offer a peaceful retreat from the hustle and bustle of the city. Whether you're interested in exploring the neighborhood's history and architecture, enjoying its dining and shopping, or simply taking in its natural beauty, Pacific Heights is a must-visit destination in San Francisco.
Sausalito is a picturesque city located in Marin County, California, just across the Golden Gate Bridge from San Francisco. The city covers an area of approximately 2.3 square miles and has a population of around 7,000 residents. Sausalito is known for its Mediterranean-style architecture, scenic waterfront, and charming small-town vibe. It's a popular destination for tourists and locals alike, offering a range of activities, restaurants, and shops.
The city of Sausalito has a rich history that dates back to the early 1800s when it was a small fishing village. During the Gold Rush era of the mid-1800s, Sausalito became a hub for shipping and transportation, with goods and passengers arriving from all over the world. Today, the city remains a transportation hub, with ferry service providing a popular way to get to and from San Francisco.
Sausalito's downtown area is home to a variety of shops, restaurants, and galleries. One of the town's most popular attractions is Bridgeway, a scenic waterfront street that offers stunning views of San Francisco Bay. The street is lined with historic buildings and is home to many popular restaurants and cafes, such as the iconic Spinnaker restaurant, which offers panoramic views of the bay.
One of the most popular things to do in Sausalito is to take a stroll along the waterfront. The city offers several parks and paths that provide stunning views of the bay and San Francisco skyline. One popular spot is the Sausalito Boardwalk, a wooden boardwalk that runs along the waterfront and is home to several outdoor cafes and shops. Visitors can also take a scenic hike up to the top of nearby Mount Tamalpais, which offers panoramic views of the bay and surrounding hills.
Sausalito is also home to several historic landmarks, such as the Bay Model Visitor Center, which features a working hydraulic model of San Francisco Bay. The city also has several art galleries and museums, including the Bay Area Discovery Museum, which offers interactive exhibits for children.
For those who love outdoor activities, Sausalito offers a range of options. Visitors can rent kayaks or paddleboards to explore the bay, or take a guided tour with one of the many local outfitters. Fishing and sailing are also popular activities in Sausalito, with several charter companies offering trips and tours.
In addition to its many attractions, Sausalito is also known for its beautiful homes and stunning views. The city has several upscale neighborhoods, many of which offer panoramic views of the bay and surrounding hills. One of the most exclusive neighborhoods is the hillside community of Marin Vista, which is home to some of the area's most expensive properties.
Overall, Sausalito is a charming city with a rich history and a range of activities and attractions for visitors to enjoy. Its stunning waterfront views, charming small-town vibe, and proximity to San Francisco make it a must-visit destination for anyone visiting the San Francisco Bay Area.
Located in the heart of San Francisco, Russian Hill is a neighborhood known for its hilly streets, stunning views, and historic landmarks. The neighborhood is bordered by North Beach to the east, Pacific Heights to the west, Nob Hill to the south, and Fisherman's Wharf to the north. It is known for its steep, winding streets, including the famous Lombard Street, which attracts tourists from all over the world.
Russian Hill is one of San Francisco's most prestigious neighborhoods, and it has a rich history that dates back to the city's earliest days. The area was named after the Russian fur traders who once lived there in the early 19th century, and it has been a fashionable neighborhood ever since.
The neighborhood is home to a variety of architectural styles, ranging from Victorian and Edwardian homes to modern, glass-walled apartments. It is known for its charming streets and staircases, which offer residents and visitors a unique way to explore the neighborhood.
One of the most famous landmarks in Russian Hill is Lombard Street, known as the "Crookedest Street in the World." The street is famous for its steep, winding curves, which were designed to make it easier for cars to navigate the steep hill. Lombard Street attracts tourists from all over the world, who come to take pictures of the colorful flowers and stunning views of the city.
Another famous landmark in Russian Hill is the San Francisco Art Institute, a prestigious art school that has produced many famous artists over the years. The school is located in a historic building on Chestnut Street, and it offers a wide range of courses in art and design.
Russian Hill is also home to a variety of restaurants, cafes, and shops. Polk Street, in particular, is known for its vibrant nightlife, with a variety of bars and clubs that attract both locals and tourists. The neighborhood is also home to a number of parks and green spaces, including the Alice Marble Park, which offers stunning views of the city and the bay.
One of the unique features of Russian Hill is the many staircases and pathways that connect the different streets and neighborhoods in the area. These staircases offer a unique way to explore the neighborhood and enjoy its stunning views, and they are a popular destination for locals and visitors alike.
Russian Hill has a strong sense of community, with a variety of neighborhood associations and community groups that work to preserve the area's historic landmarks and promote local businesses. The Russian Hill Improvement Association, for example, works to beautify the neighborhood and promote local events and activities.
The neighborhood is also known for its strong sense of social activism, with many residents actively involved in issues such as affordable housing, environmental protection, and social justice. The Russian Hill Neighbors group, for example, works to promote community involvement and social responsibility in the neighborhood.
Despite its popularity and prestige, Russian Hill is also a neighborhood with a diverse population, with a mix of young professionals, families, and retirees. The area has a relatively high cost of living, but it offers residents a high quality of life and a strong sense of community.
Overall, Russian Hill is a unique and vibrant neighborhood that offers residents and visitors a taste of San Francisco's rich history, stunning views, and dynamic culture. Whether you're a local or a tourist, the neighborhood is well worth a visit, and its charming streets, historic landmarks, and diverse community are sure to leave a lasting impression.
San Rafael is a vibrant and diverse city located in Marin County, California. It is the county seat and the largest city in Marin County, with a population of approximately 59,000 residents. San Rafael is known for its rich history, cultural diversity, and beautiful natural surroundings, making it a popular destination for visitors and a desirable place to live for locals.
The history of San Rafael dates back to the 19th century when it was founded as a mission town by Spanish missionaries. Over time, San Rafael grew and became a hub for agriculture, transportation, and commerce. Today, San Rafael is a thriving city with a diverse economy that includes technology, healthcare, and tourism.
One of the main attractions in San Rafael is its charming downtown area, which features a mix of historic buildings, shops, restaurants, and cultural institutions. The city is known for its vibrant arts scene, which includes several galleries, theaters, and music venues. One of the most iconic buildings in downtown San Rafael is the Mission San Rafael Arcangel, which was founded in 1817 and is now a popular destination for history buffs and architecture enthusiasts.
Another popular destination in San Rafael is the Marin County Civic Center, which was designed by renowned architect Frank Lloyd Wright. The Civic Center is a stunning example of modern architecture and features several unique buildings, including a courthouse, a library, and an administration building. The Civic Center is also home to several cultural institutions, including the Marin Center, which hosts concerts, plays, and other events throughout the year.
San Rafael is also home to several parks and open spaces, including the China Camp State Park, which features over 1,500 acres of hiking and biking trails, as well as stunning views of San Pablo Bay. Other popular parks in San Rafael include the McInnis Park, which features several sports fields and picnic areas, and the Gerstle Park, which is a favorite destination for families and dog owners.
For those who enjoy cultural events and festivals, San Rafael offers several options throughout the year. The Pacifics baseball team, which plays at the Albert Park, is a favorite destination for sports fans, while the San Rafael Food and Wine Festival, which takes place every June, is a popular event that features local cuisine and wine. Other popular events in San Rafael include the Italian Street Painting Festival, which takes place every June, and the Art Works Downtown Second Fridays, which is a monthly art walk that showcases the work of local artists.
One of the most unique features of San Rafael is its commitment to sustainability and environmentalism. The city has implemented several programs and initiatives aimed at reducing its carbon footprint and promoting sustainable living, including a bike share program, a community garden, and a zero-waste initiative. San Rafael is also home to several LEED-certified buildings, which are designed to be energy-efficient and environmentally friendly.
Overall, San Rafael is a beautiful and diverse city that offers something for everyone. Whether you're interested in exploring the city's rich history, enjoying its natural beauty, or simply soaking up its vibrant culture, San Rafael is a must-visit destination in the San Francisco Bay Area. Its commitment to sustainability, cultural events, and community engagement make it a truly special place to visit or call home.
Hillsborough, California, is a name synonymous with luxury and prestige. Nestled in the heart of San Mateo County, Hillsborough offers an elite real estate market that caters to those seeking the finest properties. In this blog, we'll explore the allure of Hillsborough's real estate market in 2023.
Hillsborough's real estate market is a haven for luxury living. From grand estates to architectural masterpieces, the city offers properties that exude elegance and sophistication. The meticulously landscaped gardens, gated communities, and panoramic views of the San Francisco Bay Area add to the city's charm.
Hillsborough is home to some of the top-rated schools in California, making it a preferred destination for families. The city's commitment to education, safety, and community living creates an environment that fosters growth and development.
While Hillsborough's real estate market thrives, challenges persist across California. Acquiring homeowner insurance policies has grown increasingly challenging, with companies like State Farm and Allstate ceasing to write new policies due to wildfire risks (source).
For investors, Hillsborough offers a stable and appreciating real estate market. The city's strategic location, proximity to tech hubs, and reputation for luxury living make it a sought-after destination for high-net-worth individuals.
Hillsborough's real estate market is a reflection of the city's elite status and commitment to luxury living. With a blend of architectural beauty, educational excellence, and investment potential, Hillsborough continues to be a haven for luxury homebuyers. If you are looking for a home in the area, I'd love to help. Book a call below.
The Richmond District is a neighborhood located in the northwest part of San Francisco, bordered by Golden Gate Park to the south, the Presidio to the north, the Pacific Ocean to the west, and Arguello Boulevard to the east. The neighborhood is known for its diverse population, vibrant local businesses, and unique cultural attractions.
The Richmond District was developed in the late 19th and early 20th centuries as San Francisco's population grew and new residential neighborhoods were needed. The area was originally called "the Outside Lands" and was considered remote and isolated from the rest of the city. However, with the construction of the Golden Gate Park and the opening of the Richmond District's first streetcar line in 1896, the neighborhood began to grow and develop.
Today, the Richmond District is a vibrant and diverse neighborhood that is home to a variety of cultures, languages, and traditions. The neighborhood's main commercial corridor is on Clement Street, where you can find a wide variety of shops, restaurants, and cafes, many of which reflect the area's Asian and Russian heritage.
One of the most popular attractions in the Richmond District is the historic Balboa Theater. Originally opened in 1926 as a movie theater, the Balboa has been renovated and restored several times over the years and now hosts a variety of live performances, film screenings, and other events.
Another popular destination in the neighborhood is Golden Gate Park, which offers a wide range of recreational activities and cultural attractions. The park features several museums, including the de Young Museum and the California Academy of Sciences, as well as the Japanese Tea Garden, the Botanical Garden, and several miles of hiking and biking trails.
The Richmond District is also home to several beautiful and historic residential neighborhoods, including the Presidio Terrace, which is known for its exclusive homes and beautiful landscaping. The district also features several historic landmarks, including the Sutro Baths, a former public swimming pool that was built in the late 19th century and is now a popular site for hiking and exploring.
One of the unique aspects of the Richmond District is its diverse population, which includes many immigrants and first-generation Americans. The neighborhood is home to a significant Asian population, particularly Chinese and Vietnamese residents, as well as a large number of Russian immigrants.
The Richmond District is also known for its strong community spirit and its many local events and festivals. The neighborhood hosts several annual events, including the Richmond District Spring Festival and the Clement Street Farmers Market. These events provide opportunities for residents and visitors alike to come together and celebrate the area's unique culture and heritage.
One of the challenges facing the Richmond District, like many urban neighborhoods, is the issue of affordability. Housing prices in the area have increased significantly in recent years, making it difficult for many long-time residents to afford to stay in the neighborhood. However, the Richmond District continues to be a popular destination for those seeking a vibrant and diverse community that offers a wide range of cultural and recreational opportunities.
In conclusion, the Richmond District is a unique and vibrant neighborhood that offers a rich cultural heritage, beautiful residential neighborhoods, and a strong community spirit. From the historic Balboa Theater to the many shops and restaurants on Clement Street, the Richmond District is a destination that should not be missed by visitors to San Francisco. Whether you are looking to explore the area's cultural attractions or simply enjoy a day in one of San Francisco's most beautiful parks, the Richmond District has something to offer for everyone.
Tiburon is a charming town located in Marin County, California, situated on the Tiburon Peninsula, just north of San Francisco. The town covers an area of approximately 4.4 square miles, with a population of around 9,000 residents. Tiburon is known for its spectacular waterfront views, quaint streets, and small-town charm. It is a popular destination for tourists and locals alike, offering a range of activities, restaurants, and shops.
The town of Tiburon has a rich history, dating back to the mid-1800s. Originally known as "Potrero de San Tiburcio," the area was used for grazing cattle and farming. In the late 1800s, the town began to develop as a shipping and transportation hub, with a ferry service that transported passengers and goods to San Francisco. Today, Tiburon remains a transportation hub, with the ferry still providing a popular way to get to and from San Francisco.
Tiburon's downtown area is home to a variety of shops, restaurants, and galleries. One of the town's most popular attractions is Main Street, which is lined with historic buildings and offers views of the bay. The street is home to many popular restaurants and cafes, such as Sam's Anchor Cafe, which has been a local favorite for over 90 years. Visitors can also browse through the many art galleries and boutique shops that line Main Street.
One of the most popular things to do in Tiburon is to take a stroll along the waterfront. The town offers several parks and paths that provide stunning views of the bay and San Francisco skyline. One popular spot is the Tiburon Linear Park, a mile-long walking path that runs along the waterfront. Visitors can also take a scenic hike up to the top of Ring Mountain, which offers panoramic views of the bay and surrounding hills.
Tiburon is also home to several historic landmarks, such as the Old St. Hilary's Church, a beautiful Victorian-era church that has been preserved and is open to the public. The town also has several museums, including the Railroad & Ferry Depot Museum, which showcases the town's history as a transportation hub.
For those who love outdoor activities, Tiburon offers a range of options. Visitors can rent kayaks or paddleboards to explore the bay, or take a guided tour with one of the many local outfitters. Fishing and sailing are also popular activities in Tiburon, with several charter companies offering trips and tours.
In addition to its many attractions, Tiburon is also known for its beautiful homes and stunning views. The town has several upscale neighborhoods, many of which offer panoramic views of the bay and surrounding hills. One of the most exclusive neighborhoods is the gated community of Paradise Cay, which is home to some of the area's most expensive properties.
Overall, Tiburon is a charming town with a rich history and a range of activities and attractions for visitors to enjoy. Its stunning waterfront views, quaint streets, and small-town charm make it a must-visit destination for anyone visiting the San Francisco Bay Area.
Real estate arbitrage, the practice of profiting from price discrepancies in different markets, is a strategy that can yield significant returns. However, it also comes with its own set of risks and considerations. This article aims to shed light on these aspects and share some success stories from the San Carlos, CA, real estate market.
Understanding the dynamics of different real estate markets is crucial. This includes factors like property prices, rental rates, demand trends, and local economic conditions.
Timing is everything in real estate arbitrage. The ability to accurately predict market trends and act swiftly can make the difference between profit and loss.
Securing the necessary financing is a critical aspect of real estate arbitrage. Investors need to have a solid financial plan in place, including access to loans or other forms of financing.
Real estate markets can be unpredictable. Changes in economic conditions, interest rates, or local regulations can impact property values and rental rates.
Managing properties in different markets can be challenging. It requires dealing with maintenance issues, tenant relations, and local laws and regulations.
Real estate is not a liquid asset. If the market slows down, it may take longer than expected to sell a property and recover the investment.
San Carlos, with its diverse real estate market, has been the site of several successful real estate arbitrage ventures. For instance, a mid-century home on Brittan Avenue was purchased at a lower market value, renovated, and then rented out for a significant profit. The investor capitalized on the growing demand for rental properties in the area, turning a savvy investment into a profitable venture.
Another success story involves a property on Elm Street. The investor purchased the property in a down market, held onto it during a period of market growth, and then sold it for a substantial profit. This is a classic example of buy low, sell high strategy in real estate arbitrage.
Real estate arbitrage can be a profitable strategy, but it requires a deep understanding of the market, careful planning, and a willingness to take on risk. By considering the factors outlined in this article, investors can make informed decisions and increase their chances of success in real estate arbitrage.
If you need an agent in the area, I'd love to help. Book a call below, or send me a text and we can arrange a time.
The average sale price of a single-family home in Hillsborough, CA in June 2023 was $4,758,750. This figure is derived from the sale prices of eight homes sold in that month, ranging from $3,500,000 to $7,145,000. The market showed a healthy mix of properties, with prices catering to a variety of budgets.
The increase in the number of listings by 18.8% between May and June 2023, as reported by RocketHomes, suggests a vibrant market with a high turnover of properties. This is a positive indicator for both buyers and sellers, as it signifies a dynamic market with opportunities for all parties.
Comparing the average sale price in June to the overall performance in 2023, we can see a consistent demand for single-family homes in Hillsborough. The robust real estate market, coupled with the town's desirable location and high quality of life, continues to attract buyers.
However, it's worth noting that Redfin reported a 30.4% decrease in home prices in May 2023 compared to the previous year. This could be due to a variety of factors, including economic conditions, interest rates, and local market trends.
In contrast to the single-family home market, there were no condominium sales recorded in Hillsborough in 2023. This could be due to a lower supply of condominiums in the area, or a preference among buyers for single-family homes.
The lack of condominium sales could also reflect a trend towards more spacious living arrangements, possibly driven by the ongoing impact of the COVID-19 pandemic and the shift towards remote work, which has increased the demand for larger, more flexible living spaces.
Based on local media reports, the Hillsborough real estate market has shown resilience in 2023 despite some fluctuations in prices. The demand for single-family homes remains strong, while the condominium market is quieter, possibly due to the reasons outlined above.
The overall trend suggests a preference for spacious, single-family homes, which offer the flexibility needed in the current climate. As more people work from home, the need for additional space for home offices, gyms, and outdoor living areas has become increasingly important.
The Hillsborough real estate market has demonstrated its strength and resilience in 2023, with a robust market for single-family homes and a quieter condominium market. These trends reflect the changing needs and preferences of homebuyers in the wake of the pandemic, with a clear shift towards larger, more flexible living spaces.
If you have real estate questions, I'd love to help. Book a time in my calendar below.
HILLSBOROUGH, CA, July 13, 2023 - We are thrilled to announce the record-breaking sale of a luxury home in Hillsborough, CA, underscoring the robust health of the high-end real estate market. The property, located at 891 Crystal Springs Rd, sold for an impressive $35,000,000 in June 2023, marking the highest-priced sale in the area for the month.
This sale is a testament to the continued strength and resilience of the luxury real estate market in Hillsborough. The property, a single-family home built in 1916, boasts 7 bedrooms, 10 bathrooms, and a living area of 16,000 square feet. Situated on a sprawling 47.4-acre lot, the home offers sweeping views of the San Francisco Bay and City Skyline. The grandeur of the property is further accentuated by its fully restored and expanded 5-star kitchen, grand living room with restored windows, a library with leather walls & fireplace, and separate cocktail and dining rooms.
The sale of this property significantly surpasses the average sale price in Hillsborough, demonstrating the high demand for luxury homes in the area. This trend is expected to continue as more buyers seek out properties that offer privacy, space, and high-end amenities.
We invite you to view the details of this sale on Zillow.
As a real estate agent specializing in luxury homes, we are committed to providing our clients with exceptional service and expertise in the high-end market. We look forward to continuing to serve our clients in Hillsborough and surrounding areas.
For more information, please contact us.
Whether you're planning to sell your home in the near future or simply looking to enhance your living space, certain home improvement projects can significantly increase the value of your property. This guide will highlight some of the most beneficial projects you can undertake in Redwood City, CA, to boost your home's appeal and market value.
Often considered the heart of the home, the kitchen is a key area where upgrades can yield a high return on investment. Modern, functional kitchens are a top priority for many homebuyers.
Consider replacing outdated appliances with energy-efficient models, installing new countertops, or updating cabinets. Even minor kitchen remodels, like a fresh coat of paint or new hardware, can make a significant impact.
Bathrooms are another critical area where improvements can add value. A clean, modern bathroom can significantly enhance a home's appeal.
Consider installing new fixtures, updating the vanity, or adding high-quality tiles. If your home only has one bathroom, adding a second one, even a half bath, can significantly increase your home's value.
Energy efficiency is a growing concern for many homebuyers. Making your home more energy-efficient not only reduces utility bills but can also increase its value.
Consider installing energy-efficient windows, upgrading your insulation, or adding a smart thermostat. Solar panels can also be a worthwhile investment, depending on your local climate and electricity costs.
Outdoor living spaces have become increasingly desirable. A well-designed outdoor space can serve as an extension of your home's living area and provide a place for relaxation and entertainment.
Consider adding a deck, patio, or outdoor kitchen. Even simpler landscaping improvements, like planting trees or adding a garden, can enhance your home's curb appeal and value.
While not as exciting as a kitchen remodel or a new deck, keeping your home in good condition is crucial. Homebuyers are more likely to pay a premium for a home that has been well-maintained.
Ensure your roof, HVAC system, and foundation are in good condition. Regularly check for and address any issues, such as leaks, mold, or pest infestations.
Investing in home improvement projects can significantly increase your property's value and make it more appealing to potential buyers. However, it's important to consider your local market conditions and choose projects that will provide a good return on investment.
If you need an agent in the area, I'd love to help. Book a call below, or send me a text and we can arrange a time.
Here are the top 5 most expensive sales in Hillsborough, CA in June 2023:
These sales, significantly higher than the average sale price of $1,918,000 for single-family homes and $1,150,000 for condominiums in San Mateo in 2023, highlight the strong performance of the luxury market in Hillsborough. The high demand for luxury properties in this area is a testament to the desirability of Hillsborough as a residential location.
If you are looking for a home in the area, I'd love to help. Book a call below.
Investing in real estate can be an exciting and profitable venture, particularly in a vibrant market like San Francisco, California. As a seasoned real estate agent with experience in flipping houses, I understand the intricacies of this dynamic market. In this comprehensive blog post, I will guide beginners through the process of buying an investment property in San Francisco. We will delve into the unique aspects of the local real estate scene, highlight relevant tenant laws, and emphasize the long-term upside of investing in real estate, supported by recent growth data.
Section 1: Understanding the San Francisco Real Estate Market:
San Francisco Real Estate Overview: Explore the current state of the San Francisco market, including factors influencing demand and supply.
Trends and Forecasts: Analyze recent trends and forecasts to gain insights into the direction of the San Francisco real estate market.
Neighborhood Analysis: Discover the diverse neighborhoods in San Francisco, focusing on areas with high investment potential and growth opportunities.
Section 2: Financing and Budgeting for Your Investment Property
Setting Investment Goals: Define your investment objectives and align them with your budget and financial capabilities.
Assessing Your Financial Situation: Evaluate your finances, credit score, and consider mortgage pre-approval to establish a realistic budget.
Financing Options: Explore various financing options available for investment properties in San Francisco.
Budgeting for Expenses: Identify and factor in the additional costs associated with purchasing and owning an investment property.
Section 3: Finding and Evaluating Investment Properties
Property Search Strategies: Utilize online platforms, ask me to do some digging for you, and network within the San Francisco real estate community.
Evaluating Investment Potential: Learn the key factors to consider when assessing the investment potential of a property, including location, condition, and market dynamics.
Due Diligence: Conduct thorough inspections, review property history, and analyze comparable sales to make informed investment decisions.
Section 4: Understanding San Francisco Tenant Laws and Regulations
Tenant Protection Laws: Highlight the unique tenant laws in San Francisco, such as rent control and eviction regulations.
Lease Agreements and Disclosures: Explain the necessary legal documents, lease terms, and required disclosures when renting out a property in San Francisco.
Maintaining Positive Tenant-Landlord Relationships: Provide tips on effective communication, property maintenance, and conflict resolution.
Section 5: The Upside of Long-Term Real Estate Investing in San Francisco
Appreciation Potential: Showcase recent growth data and historical trends to demonstrate the long-term appreciation potential of real estate investments in San Francisco.
Cash Flow and Rental Income: Discuss the strong rental demand in San Francisco, highlighting the potential for positive cash flow and rental income.
Tax Advantages: Explain the tax benefits associated with real estate investing, including deductions, depreciation, and the 1031 exchange.
Building Wealth and Portfolio Diversification: Emphasize the wealth-building opportunities and the ability to diversify your investment portfolio through real estate.
Conclusion:
With its thriving real estate market and numerous growth opportunities, San Francisco, California, presents an attractive landscape for beginner investors. By understanding the local real estate market, navigating tenant laws, and recognizing the long-term upside of investing in real estate, beginners can embark on a successful journey in the San Francisco market. Remember to stay informed, seek guidance from professionals, and conduct thorough due diligence to make well-informed investment decisions. Happy investing!
Note: Real estate market conditions and regulations can change over time. It's crucial to stay updated with current information, consult with local professionals, and conduct thorough research when engaging in real estate investment activities in San Francisco.
If you need help putting a plan together, or would like to discuss selling you home, feel free to email me any questions you have and we can arrange a time.
Real estate investment is a tried-and-true method of building wealth, but it can be intimidating for those new to the field. This beginner's guide aims to demystify the process, offering step-by-step advice on how to start your investment journey. From understanding different investment options to managing risks, this guide has you covered.
Investing in real estate can be a rewarding but complex endeavor. However, with the right knowledge and preparation, anyone can become a successful real estate investor. Remember, the key to successful investing is research, planning, and risk management.
Ready to dive into the world of real estate investing? Contact Milana Real Estate for personalized investment advice and property recommendations tailored to your financial goals.
Selling a home is more than just listing it on the market; it's about showcasing it in a way that appeals to potential buyers. Home staging can make all the difference in how quickly your property sells and at what price. In this blog, we'll explore the importance of curb appeal, offer room-by-room staging tips, and discuss cost-effective staging solutions.
Staging your home doesn't have to be an expensive or daunting task. With some strategic planning and a little creativity, you can make your property more appealing to potential buyers. Remember, the goal is to help them visualize living in the space, and a well-staged home does just that.
If you're planning to sell your property and need expert advice on staging, don't hesitate to contact me on the link below. We offer personalized consultations to help you get the best value for your home.
Investing in real estate can be a lucrative venture, but it's essential to understand the basics before diving in. Whether you're looking to buy your first property or expand your investment portfolio, this guide will provide you with the foundational knowledge you need to make informed decisions. From understanding different types of real estate investments to exploring financing options and risk management, we've got you covered.
Investing in real estate is not a decision to be taken lightly. It requires thorough research, financial planning, and risk assessment. However, with the right approach, real estate investment can be a rewarding and profitable venture.
Interested in taking the next step in your real estate investment journey? Contact me using the link below for a free consultation to discuss your investment goals and how we can help you achieve them.
Investing in real estate can be an excellent way to build wealth. However, for novice investors, the process can feel daunting. One city that often draws the attention of potential real estate investors is San Francisco, California. The city’s thriving tech industry, stunning architecture, and incredible cultural scene make it a coveted location. Still, investing here involves certain unique considerations. This article will illuminate the most critical factors to consider when venturing into San Francisco’s real estate market.
Understanding the dynamics of the San Francisco real estate market is critical to making informed decisions. This city is known for its rapid price fluctuations and higher-than-average property costs. This is influenced by factors such as the tech industry’s local growth, interest rates, and the city's geographical restrictions, which limit new housing developments.
Closely monitor market trends such as median house prices, vacancy rates, rental yields, and the rate of new construction. Keeping a pulse on these metrics can help you predict where the market is heading, assisting in deciding when to buy, sell, or hold a property.
Location is a crucial factor in real estate anywhere, but it’s particularly critical in San Francisco due to the city's varied neighborhoods and geographically constrained nature. Different neighborhoods attract different kinds of tenants and have varying growth prospects. For instance, areas close to tech hubs like Silicon Valley or South of Market (SoMa) often attract high-income tech workers, while neighborhoods like Sunset District are known for their residential, family-friendly feel.
Researching local amenities, crime rates, school quality, public transport accessibility, and future development plans will give you a better idea of a property's potential. Furthermore, understanding San Francisco’s unique topographical challenges, such as susceptibility to earthquakes, is vital in assessing a property’s viability.
San Francisco has some of the most tenant-friendly laws in the United States. The city's rent control ordinance can limit the amount you can raise rents annually. Therefore, fully understanding local laws and ordinances, such as eviction rules, building codes, and zoning regulations, is essential before investing. Hiring a real estate attorney or consultant may be a worthy investment to navigate these complexities.
Determining your investment strategy is a vital initial step. Are you interested in short-term flipping, long-term rentals, vacation rentals, or commercial properties? Each approach carries its own set of risks and rewards.
For example, San Francisco’s high property prices often mean low rental yields, making traditional rentals less profitable. However, the potential for significant capital growth can more than make up for this. Alternatively, the city’s thriving tourism industry makes short-term vacation rentals an attractive option, but this comes with increased regulatory scrutiny and variability in income.
Real estate in San Francisco is expensive, and securing adequate financing is a crucial step. Exploring options such as conventional mortgages, hard money loans, or real estate investment trusts (REITs) can help in this regard.
Assessing potential return on investment (ROI) is another critical component. Calculate your potential cash flow by deducting all expenses, such as mortgage payments, property taxes, insurance, maintenance costs, and vacancy allowances, from your estimated rental income. Remember to consider potential tax benefits, like depreciation or 1031 exchanges, in your calculations.
Building a strong network of real estate professionals can dramatically improve your success in the San Francisco market. This could include real estate agents, brokers, contractors, property managers, real estate attorneys, and fellow investors. These professionals can provide invaluable advice, help find off-market deals, and provide services that improve your investment’s profitability.
Finally, any investment carries risks, and real estate in San Francisco is no exception. To manage these, consider diversifying your real estate portfolio by investing in different neighborhoods or types of properties. Also, ensure you have an adequate insurance cover for disasters like earthquakes or fires.
Real estate investing in San Francisco, while potentially lucrative, is not for the faint-hearted. Thorough research, planning, networking, and a clear understanding of the unique local market dynamics are essential for success. If done right, investing in this vibrant city’s real estate can be a rewarding journey towards building substantial wealth. Remember, real estate is a long-term game, so patience and persistence are your best allies.
If you need help putting a plan together, or searching for you next property, feel free to email me any questions you have.
The Marin real estate market shifted into new territory in Q1, shedding the weight of the drastic rate-hike market and re-balancing itself into a more normalized market comparative to the rest of the country.
Typical markets see homes sitting for 21-30 days before selling, with the best turnkey properties being the ones attracting the most attention and selling above asking. Although Marin has seldom operated in parallel with 'normal', it seems we're now getting a taste of it.
Properties priced right & presented well are still moving quickly, but anything less-than turnkey, especially if it's priced inline with a 3% rate market rather than today's rates, DOM will accumulate. With higher rates we are seeing monthly payment affordability issues & pricing needs to reflect this.
Median Market
The average price for a property in Kentfield's single-family market dropped by ~ $800,000 in Q1 '23 and took three times as long to sell. With only 3 sales and a handful of listings available all quarter, it's hard to tie the value drop to desirability,
Buyers are much more hesitant to pull the trigger and buy homes now than they were before, which aligns with the trend of affordability issues coupled with sellers having 'pre-6% rate market' value expectations.
Luxury Market
No luxury properties sold in Kentfield in Q1 23.
Yes; they're weren't many homes listed.
Yes, the luxury market varies quite a bit between property type and size.
The fact is there are significantly fewer buyers for $3m+ properties Bay Area-wide, and those buyers tend to concentrate closely on traditional luxury pockets when the market shifts. Buyers at this price point are assumed to be more cash dominant, which is true, but savvy buyers leverage their assets with borrowed capital, and the cost of that capital has jumped, limiting the demand for expensive homes.
The general theme of macro-economic activity is more-of-the-same. We're seeing a steady diet of stress events like Silicon Valley Bank's collapse and the sell off of others, First Republic flailed for a moment which caused the entire real estate market to hold it's breath (FR is San Francisco's leading residential mortgage lender), and tech companies are laying off employees and axing non-revenue generating business activity, all typical during periods of tightening.
Also, the fed raises rates again at the turn of Q2 by 25bp and plans of doing this a few more times. However, and this is a BIG however, California is a sunshine state. People don't go to open houses in the rain (we're ridiculous, yes). With the sun back out, I wouldn't be surprised if we saw a flurry of activity.
Learn more about Kentfield
If you have any questions, text me.
Real estate investing is a proven wealth-building strategy, but it demands a thorough understanding of the market's nuances. A prime location for potential real estate investments is San Mateo County, California, known for its affluent communities, proximity to Silicon Valley, and scenic coastlines. This article aims to shed light on the essential factors to consider when venturing into San Mateo County's real estate market.
Thoroughly understanding San Mateo County's real estate market dynamics is pivotal for successful investing. Factors such as the local tech industry, demographic trends, and the area's high desirability all play a role in influencing the market.
Monitor trends like median home prices, vacancy rates, rental yields, and the rate of new construction. These insights can help predict market behavior and guide your decisions on when to buy, sell, or hold properties.
In real estate, location is king, and San Mateo County is no exception. The county is home to diverse cities and neighborhoods, each attracting different tenant demographics and offering unique growth prospects. For instance, properties close to tech companies may appeal to high-income professionals, while areas with family-friendly amenities might be more desirable for families.
Research local amenities, crime rates, school quality, transportation links, and future development plans to get a clear understanding of a property's potential. Also, keep in mind San Mateo’s specific geographical considerations, such as the risk of sea-level rise affecting coastal properties.
San Mateo County, like other California regions, has a range of regulations impacting property investors. Familiarize yourself with county and local city regulations related to rent control, tenant eviction, building codes, and zoning laws. Consulting with a skilled real estate attorney or advisor can be invaluable in navigating this complex legal landscape.
Determining your investment strategy is a vital initial step. Are you considering long-term rentals, vacation rentals, house flipping, or commercial real estate? Each strategy comes with its unique set of risks and rewards.
Given the county’s affluent demographics and proximity to tech hubs, both long-term and short-term rentals can be profitable. However, they come with their own regulatory considerations and income variability.
Securing adequate financing is a crucial step, especially given San Mateo County's high property values. Evaluate options such as conventional mortgages, hard money loans, or real estate investment trusts (REITs).
Equally critical is the calculation of your potential return on investment (ROI). To estimate your cash flow, deduct all expenses (including mortgage payments, property taxes, insurance, maintenance costs, and vacancy allowances) from your projected rental income. Also, consider potential tax benefits like depreciation or 1031 exchanges in your calculations.
Developing a strong network of real estate professionals can significantly boost your success in San Mateo County. Your network should include real estate agents, brokers, contractors, property managers, real estate attorneys, and fellow investors. They can provide invaluable insights, help you find off-market deals, and offer services that enhance the profitability of your investment.
Investing in real estate always comes with risks, and San Mateo County is no exception. To mitigate these risks, consider diversifying your real estate portfolio across different parts of the county or various property types. Additionally, ensure you have robust insurance coverage, especially for regional risks like earthquakes or floods.
Investing in real estate in San Mateo County, while potentially rewarding, requires a comprehensive understanding of the local market, strategic planning, and meticulous research. With a solid network, a well-thought-out plan, and a dose of patience, you can embark on a successful real estate investing journey in this affluent and dynamic region. Remember, real estate is a long-term game, and your perseverance and diligence will be key.
If you need help putting a plan together, or searching for you next property, feel free to email me any questions you have.
Q4 in Kentfield
Q1 will set the tone for the coming year more so than any other quarter in recent memory. The entirety of the real estate community is sitting on the edge of our seats eagerly hoping for a strong sales quarter and a renewed confidence that we've seen the worst of the correction. With rates already decreasing toward the tail end of Q4, it seems like we've already experienced the bottom of the market.
I could easily see a full year of price stagnancy in 2023, with property values staying mostly level with the prices we're seeing now, down < 10% from the Q1 "22 peaks. Prices across Marin were appreciating at 15-20% year over year during COVID, which was an absolutely absurd pace.
We are now in a buyer's market. There are more opportunities in the market for the savvy than ever before.
The Median Market
The median market in Kentfield took a hit in Q4 with prices dropping by $600,000 on average. Traditionally we see a fall-off in the final quarter of the year, but his years’ trends suggest a stronger narrative; buyer affordability and demand are significantly below where they have been in recent years. The price per foot buyers is willing to pay for homes dropped from $1,139/foot to $894/foot.
With decreasing affordability, buyers are shifting their focus heavily to turn-key. Additional costs after purchase as undesirable in this market as they ever have been, and it's in a homeowner’s best interests to take the time to update & enhance their properties ahead of time to ensure a turn-key property is presented to the market.
The Luxury Market
The luxury market for a home in Kentfield, unfortunately, got pummeled in Q4, with prices dropping by almost $2,800,000 compared to the yearly average in 2022. Although only 2 sales were recorded in Q4 compared to 8 all year, the unspoken data point missed here is the sheer number of homes that didn't sell or were pulled from the market. It took almost 2 months longer to sell a luxury home last quarter, too.
The Bay Area's luxury market as a whole plummeted in Q3&4 as macroeconomic conditions wreaked havoc on the real estate market. One of the biggest drivers for luxury home sales has traditionally been proximity to San Francisco, but the drastic decline in office desirability, heightened WFH culture, and an increase on cost-of--borrowed capital has deterred buyers from pulling the trigger.
Projecting Ahead To Next Month/Quarter
Q1 will set the tone for the coming year more so than any other quarter in recent memory. The entirety of the real estate community is sitting on the edge of our seats eagerly hoping for a strong sales quarter and a renewed confidence that we've seen the worst of the correction. With rates already decreasing toward the tail end of Q4, it seems like we've already experienced the bottom of the market.
I could easily see a full year of price stagnancy in 2023, with property values staying mostly level with the prices we're seeing now, down < 10% from the Q1 "22 peaks. Prices across Marin were appreciating at 15-20% year over year during COVID, which was an absolutely absurd pace.
We are now in a buyer's market. There are more opportunities in the market for the savvy than ever before.
The Larkspur real estate market performed well in Q1, even though the value increases were smaller than we've been accustomed to seeing over the past 20 odd months.
The condominium market median value increased by almost 50k in Q1, nearing an $800k average price point for the first time. There are early warning signs of the market slowing, however, with days on market continually climbing since roughly October of ‘21.
The median market for single family homes was undersupplied most of Q1, with only 7 sales recording. As I’m writing this (4/15), there is zero active inventory on the market. With the Spring market ramping up, I wouldn't be surprised if we see a handful of homes hit the market any day now. While the median price dropped, buyer demand certainly has not. Turn-key homes in Larkspur will command attention.
The luxury market only saw 1 sale at $3,750,000. Desirable homes with seclusion/privacy and a nice finish package continue to be highly sought after.
The Condominium Market
The Larkspur condo market was stable in Q1. The average price has been steadily trending upward since the pandemic began. It will cost you $800,000 on average to buy a condo in Larkspur these days. The condominium market really jumped in late ‘20, being seen as an ‘affordable’ (and desirable) option for buyers fleeing San Francisco. Throughout most of 2021, the average price
Days on market are continually increasing, indicating a downward trend is on the horizon.
The Median Market
For the purposes of defining the line between the median market & the luxury market, $1,000,000 above or below the median at the time of this report is considered the market for a median home, whereas anything $1M above or greater tends to correlate better to the luxury market.
The median dropped significantly in Q1, with only 7 sales hitting the books at an average of $2,260,000. After a white-hot '21 market where the median crept to ~ $2,500,000, the market had to cool eventually. This value dip seems to be due to supply rather than demand. There are currently 0 listings available at the median price point which is indicative of Q1 as a whole; few listings to choose from and healthy funded buyers are choosing to wait for more turn-key homes than what has been available over the turn of the year. Regardless of interest rates creeping up and buying power being pulled out of the market, the typical buyer profile we’ve seen buying homes in Larkspur is mostly protected from fluctuations in macroeconomics, which should lead to a more stable market than other markets in Marin County.
The Luxury Market
The luxury market barely moved in Q1; 1 sale at $3,750,000. Similar to the median market, the supply has been the main driver of market conditions, rather than a lowered demand. Buyers are still highly valuing easy access to San Francisco, larger living and outdoor spaces, giving Southern Marin somewhat of a golden ticket to value protection moving through the unknown ahead.
Projecting Ahead To Q2
Larkspur will always hold its value well. Limited housing supply coupled with location, access to SF as well as to Mt. Tam and beyond, it's hard to see a dip in demand.
With 5 to 6 rate increases projected to be on the horizon between now and the end of 2023, it's feasible to expect the condominium and lower median markets to be significantly affected. Buying power will greatly diminish for buyers around the median. A move of just 0.5% can increase the monthly payment dues by $1,000 to low-thousands of dollars. That's significant, and people shopping in the $1,000,000 price point are seeing their purchasing power diminish rapidly.
Luckily, most of the Marin market is insulated from macro-trends to a degree. The typical buyer a healthy downpayment, or has access to capital to help fund a real estate purchase
While it's hard to see a decrease in demand, I anticipate this Summer might be the final feeding frenzy before a declining market.
Q4 saw more of the same for Larkspur; severely under-supplied markets in all sectors, and buyers willing to continually drive prices up above previously established highs.
Median single family home values are up $600,000 since 2019, similar to most Marin real estate markets, and there seems to be no slow down in sight. With another ~ $200,000 median price jump in Q4, the market is trending north of $2,650,000 for the first time in history.
For reference, the median value of a home in Larkspur in 2019 was $2,043,000
The condominium market was a rare blip on the radar where values were $100,000 below 2021 values in Q4, but with only 5 data points (sales), I wouldn't be alarmed. Larkspur is one of Marins lowest volume markets which usually creates an excess in demand compared to the supply. Q4 flipped the switch on that economic equation, seeing a significant dip in condominium values for the first time in pandemic years.
The luxury market continues to trend toward a $4M average, with 1 major sale in the quarter at $4,750,000. Similar to the median markets, the luxury housing market has seen steady and continual growth throughout the pandemic, with buyers seeking beautiful estates, shrouded in privacy and peacefulness, but still within arms reach of San Francisco. The value drivers for luxury property have been proximity, walkability, and views.
2022 should see much of the same as 2021.
The key statistics we will use to objectify market data are as follows:
Total Number of House Sales In Q4: 14
Average Monthly Sales In 2021: 6
Average Sale Price Of Houses In Q4: $2,670,000
Average Sale Price In 2021: $2,453,000
Larkspur’s Avg Price Per Square Foot Sold (all property types):
Average Sale Price Of Condominiums In Q4: $642,000
Average Sale Price In 2021: $749,000
Average Days On Market in Q4 (all): 18
Months of Supply (total active listings/monthly sales rate): 0.3
Average Supply in 2021: 0.7
General sentiment from agents: Larkspur had one of the steepest gains of any neighborhood Bay Area wide throughout the pandemic, leading to a heavily undersupplied market with insatiable buyer demand. Values skyrocketed, and really didn’t slow down at all in 2021.
Almost any listing with unique/desirable features will move quickly and sell for top dollar in Q1 of ‘22.
The Marin real estate market shifted into new territory in Q1, shedding the weight of the drastic rate-hike market and re-balancing itself into a more normalized market comparative to the rest of the country.
Typical markets see homes sitting for 21-30 days before selling, with the best turnkey properties being the ones attracting the most attention and selling above asking. Although Marin has seldom operated in parallel with 'normal', it seems we're now getting a taste of it.
Properties priced right & presented well are still moving quickly, but anything less-than turnkey, especially if it's priced inline with a 3% rate market rather than today's rates, DOM will accumulate. With higher rates we are seeing monthly payment affordability issues & pricing needs to reflect this.
Condo Market
The condominium market in Larkspur was non-existent in Q1; 0 sales.
Typically we only see a small handful of condominium sales in Larkspur, but rarely does an entire quarter pass without a sale.
Affordability in the condominium market has swung drastically since last Summer. Buyers are looking at monthly payments somewhere in the ballpark of double what they used to be last year. Sellers haven't been willing to drop prices to accommodate for this carrying cost, so the market has stalled.
Sellers will need to bite the bullet and accept that their condo is worth less in this market than they'd like. Luckily, if they bought before 2020, there's a ton of equity to pull out of the sale.
Median Market
The median housing market in Larkspur saw only 1 property sale in Q1 of '23.
The average price for a single-family home raced to $2.8M in 2022. I remember when I started tracking Larkspur at a $2.15M avg. in the Summer of 2020 and thought this town had a unique vibe that was undervalued. Fast-forward a few years and values are up 650k.
The single sale closed for $2.585M in just 6 days, highlighting that desirability for turnkey single-family homes is still sky-high in Larkspur.
Luxury Market
Only one luxury property traded hands in Q1 '23; selling for $3,865,000 in 7 days.
Yes; they're weren't that many homes listed. Yes, the luxury market varies quite a bit between property type and size. The fact is there are significantly fewer buyers for $3m+ properties Bay Area-wide, and those buyers tend to concentrate closely on traditional luxury markets when the economy shifts.
Buyers at this price point are assumed to be more cash dominant, which is true, but savvy buyers always leverage their assets with borrowed capital, and the cost of that capital has jumped, limiting the demand for expensive homes.
The general theme of macro-economic activity is more-of-the-same. We're seeing a steady diet of stress events like Silicon Valley Bank's collapse and the sell off of others, First Republic flailed for a moment which caused the entire real estate market to hold it's breath (FR is San Francisco's leading residential mortgage lender), and tech companies are laying off employees and axing non-revenue generating business activity, all typical during periods of tightening.
Also, the fed raises rates again at the turn of Q2 by 25bp and plans of doing this a few more times. However, and this is a BIG however, California is a sunshine state. People don't go to open houses in the rain (we're ridiculous, yes). With the sun back out, I wouldn't be surprised if we saw a flurry of activity.
Learn more about Larkspur
If you have any questions, text me.
First impressions matter, especially when it comes to selling your home. The exterior of your property is the first thing potential buyers see, and it can significantly influence their perception of your home. This guide will provide you with simple and affordable ways to enhance your home's curb appeal in San Carlos, CA, and make a lasting impression on potential buyers.
A well-maintained lawn can significantly enhance your home's curb appeal. Regular mowing, watering, and fertilizing can keep your lawn looking lush and green. If your lawn has bare spots, consider reseeding or laying down fresh sod.
Flowering plants can add a pop of color and make your home more inviting. Consider planting flowers in your garden or adding potted plants to your front porch. Choose plants that are easy to maintain and suitable for your local climate.
Your front door is a focal point of your home's exterior. A fresh coat of paint can make your door stand out and create a welcoming entrance. Choose a color that complements your home's exterior but also adds a touch of personality.
A clean, well-maintained exterior can significantly enhance your home's curb appeal. Power wash your siding, driveway, and walkways to remove dirt and grime. Repair any damaged or worn-out areas, such as cracked sidewalks, broken railings, or peeling paint.
Outdoor lighting can enhance your home's curb appeal and provide added security. Consider installing pathway lights to illuminate your walkway or accent lights to highlight architectural features or landscaping. Solar-powered lights are an energy-efficient option that doesn't require any wiring.
Your mailbox might seem like a minor detail, but upgrading to a new, stylish mailbox can make a big difference in your home's curb appeal. Choose a mailbox that matches the style of your home.
Outdoor art, such as a birdbath, a sculpture, or wind chimes, can add character and charm to your home's exterior. Just be sure to keep it subtle and tasteful to appeal to a wide range of buyers.
Enhancing your home's curb appeal doesn't have to be expensive or time-consuming. With a few simple and affordable enhancements, you can create a welcoming exterior that leaves a lasting impression on potential buyers. Remember, the goal is to create an inviting exterior that makes buyers eager to see what's inside.
If you need an agent in the area, I'd love to help. Book a call below, or send me a text and we can arrange a time.
Q4 was a coup de grâce for what was the obvious turning point of a bull market. The downturn affected each and every pocket in the real estate sector, and few neighborhoods/areas were spared. For the first time in over a decade, the Marin real estate market shifted from a seller's market to a buyer’s market.
There are more deals available in Marin county than I've seen in my entire careSingle-familymily homes sitting on the market for 90 days plus, condominiums seeing little to no desirability in places, and the luxury market took one of the biggest hits in the nation.
Beautiful turn-key properties are still selling well. There will always be a market for location + turn-key, but anything less than that might need to consider remodels prior to listing in Spring '23.
The Condominium Market
The Larkspur condo market has been mostly non-existent since the pandemic boom we saw in 20/21. 3 sales were recorded in Q4 after only 5 sales in the previous 3 quarters of the year. The average price for a condominium dropped by 100k to $515,000, while the $/foot remained the same which implies the 3 sales were smaller units than what was sold previously.
Given the low supply of properties coupled with the relatively low cost of entry, the condominium market in Larkspur will always have buyer attention.
Updated condos will sell better than anything less-than turnkey. Tip; Get the HOA to approve a renovation and package that approval with your listing; buyers will know they can remodel & will start imagining their dream design while in the unit, even if you don't complete the remodel.
The Median Market
Median homes in Larkspur are still selling well despite the challenging rate environment that really took a stranglehold on Q4. 1/3 of the year’s sales were recorded in Q4, which to me implies buyers capitalized on the downward trending market.
Buyers have been waiting for prices to correct for years in Southern Marin, however, fewer buyers in the market/fewer multiple-offer situations seem to have been enough of a catalyst. The median price for a home in Larkspur went unchanged in Q4 at $2,800,000, while the $/foot actually increased, signaling demand is still strong.
The Luxury Market
The luxury home market in Larkspur saw little activity in the final quarter of 2022 with only 1 sale recording at $5,600,000, 2 listings pulled from the market, and another still active at the turn of the new year.
Traditionally, Larkspur has seen an undersupplied luxury market given the relatively small amount of homes in the area. Buyers in these price points have drastically fallen off county-wide, but also are seeing a wealth of options throughout Southern Marin making it challenging to see strong luxury marketing going into 2023.
Projecting Ahead To Next Month/Quarter
Q1 will set the tone for the coming year more so than any other quarter in recent memory. The entirety of the real estate community is sitting on the edge of our seats eagerly hoping for a strong sales quarter and a renewed confidence that we've seen the worst of the correction. With rates already decreasing toward the tail end of Q4, it seems like we've already experienced the bottom of the market.
I could easily see a full year of price stagnancy in 2023, with property values staying mostly level with the prices we're seeing now, down < 10% from the Q1 "22 peaks. Prices across Marin were appreciating at 15-20% year over year during COVID, which was an absolutely absurd pace.
We are now in a buyer's market. There are more opportunities in the market for the savvy than ever before.
Menlo Park, California, is a gem in Silicon Valley's real estate market. Known for its innovation and entrepreneurial spirit, Menlo Park offers a thriving property landscape. In this blog, we'll explore the marvels of investing in Menlo Park's real estate market.
Menlo Park's real estate market is a hotbed for investment. With its proximity to tech giants like Facebook and a thriving innovation ecosystem, the city offers properties that cater to professionals and investors alike.
Menlo Park is home to some of the top-rated schools in California, making it a preferred destination for families. The city's commitment to education, safety, and community living creates an environment that fosters growth and development.
While Menlo Park's real estate market thrives, challenges persist across California. Acquiring homeowner insurance policies has grown increasingly challenging, with companies like State Farm and Allstate ceasing to write new policies due to wildfire risks (source).
Menlo Park's strategic location in the heart of Silicon Valley makes it a preferred choice for tech professionals. The city's excellent public transportation system and easy access to major highways add to its appeal.
Menlo Park's real estate market is a reflection of the city's innovative spirit and investment potential. With a blend of diverse properties, educational excellence, and strategic location, Menlo Park continues to be a gem in Silicon Valley's real estate landscape. If you are looking for a home in the area, I'd love to help. Book a call below.
Menlo Park, CA - The luxury real estate market in Menlo Park, CA, continues to show positive trends with high-priced real estate sales leading the way. In June 2023, the highest priced sale was a stunning property located at 1400 El Camino Real, which sold for an impressive $35,965,306.
This sale underscores the robust nature of the luxury market in Menlo Park. The city, known for its high quality of life, excellent schools, and proximity to Silicon Valley, continues to attract affluent buyers. The sale of the property at 1400 El Camino Real is a testament to the city's enduring appeal.
The sale price of this property significantly exceeds the average sale price of a single-family home in Menlo Park in 2023, which was approximately $2,928,636. This demonstrates the strong demand for luxury homes in the city and the willingness of buyers to invest in premium properties.
The luxury market's positive trends are expected to continue, driven by the city's desirable location, high-quality amenities, and the ongoing demand for luxury homes. As a real estate agent specializing in luxury homes, I am optimistic about the future of the luxury market in Menlo Park.
For more information about the luxury real estate market in Menlo Park or if you're interested in buying or selling a home in the area, please feel free to contact me.
If you have any questions about the luxury real estate market in Menlo Park or if you're interested in buying or selling a home in the area, I'd be happy to assist. Please feel free to contact me.
The luxury real estate market in Danville, California has been impacted by a variety of factors in recent years, including the COVID-19 pandemic. As one of the most desirable locations in the Bay Area, Danville has traditionally been a hub for high-end real estate sales. However, with the pandemic continuing to shape the housing market in 2023, it's important to consider how trends may shift in the coming months.
According to the Bay Area housing market forecast for 2023, the market is expected to remain strong with continued demand for housing. The report from US News and World Report suggests that low interest rates and high demand will continue to drive up prices. However, the report also notes that the market may begin to shift in response to changing priorities among buyers.
One trend that is likely to continue in 2023 is the shift towards more suburban and rural properties. With many companies continuing to offer remote work options, buyers are looking for homes that offer more space and flexibility, particularly outdoor space. This shift in priorities has led to increased demand for suburban and rural properties, particularly those that offer larger lots and more outdoor amenities.
As a result of this trend, luxury properties in urban and suburban areas may see a decline in demand. Instead, buyers may look to more rural properties that offer more space and more opportunities for outdoor activities. This shift in priorities may be particularly pronounced in the luxury market, where buyers are often more sensitive to economic fluctuations.
Despite these challenges, the luxury real estate market in Danville is expected to remain resilient in 2023. While sales of luxury properties may decline in some areas, there is still strong demand for high-end real estate in the area. This is due in part to the fact that Danville offers a unique combination of natural beauty, excellent schools, and easy access to San Francisco and Silicon Valley.
To navigate the current climate, sellers of luxury properties in Danville are increasingly turning to virtual tours and other digital marketing strategies. These tools allow potential buyers to explore properties from the comfort and safety of their own homes, which is particularly important in the current climate. By leveraging technology, sellers are able to reach a wider audience and showcase their properties in new and innovative ways.
Another strategy that sellers are using to navigate the current climate is to focus on the unique features of their properties. With buyers increasingly looking for outdoor space and other amenities, luxury properties that offer these features may be able to command a premium price. Sellers are also emphasizing the privacy and exclusivity of their properties, which may be particularly attractive to buyers who are looking for a retreat from the hustle and bustle of urban life.
In conclusion, the luxury real estate market in Danville is likely to be impacted by the continued effects of the COVID-19 pandemic in 2023. With a shift towards more suburban and rural properties, luxury properties in urban and suburban areas may see a decline in demand. However, the market is expected to remain strong overall, with continued demand for high-end real estate in Danville due to its unique combination of natural beauty, excellent schools, and easy access to San Francisco and Silicon Valley. By leveraging technology and emphasizing the unique features of their properties, sellers can navigate the current climate and continue to attract high-end buyers in the coming months.
In June 2023, the average sale price of a single-family home in Menlo Park was approximately $3,682,657. This figure represents a snapshot of the market during a specific month, and it's crucial to understand it in the context of broader market trends.
The price point indicates a robust market for single-family homes, reflecting the high demand for such properties in Menlo Park. The city's appeal, characterized by its vibrant community, excellent schools, and proximity to major tech companies, continues to attract buyers, thereby driving up home prices.
When we look at the average sale price of single-family homes in Menlo Park for the entire year of 2023, the figure stands at approximately $2,859,000. The difference between the annual average and the June 2023 average suggests a potential upward trend in the market as the year progresses.
This trend could be attributed to a variety of factors, including increased buyer demand during the summer months, improved economic conditions, or a shortage of available properties, which can drive up prices.
The data for June 2023 indicates a median home price in Menlo Park of $1,764,600. While this figure includes all types of homes, it provides a useful reference point for understanding the condominium market.
Given that condominiums typically have a lower price point than single-family homes, it's reasonable to infer that the average sale price of a condominium would be less than this median figure. This suggests a more accessible entry point into the Menlo Park real estate market for buyers who may not be ready to purchase a single-family home.
Local media reports and market analyses suggest a dynamic and resilient real estate market in Menlo Park. The upward trend in single-family home prices could be indicative of a seller's market, where high demand and limited supply allow sellers to command higher prices.
On the other hand, the relative affordability of condominiums presents opportunities for first-time buyers or those seeking a more affordable option in a competitive market. As Menlo Park continues to grow and attract new residents, we can expect these trends to continue shaping the local real estate market.
Understanding the nuances of the real estate market can be complex, but these insights provide a snapshot of the Menlo Park market in 2023. The market's performance reflects broader economic trends, local demand, and the unique appeal of Menlo Park as a place to live.
If you have real estate questions, I'd love to help. Book a time in my calendar below.
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Since the COVID-19 pandemic, there has been a significant exodus of people from San Francisco, resulting in a shift in the luxury real estate trends in neighboring cities like Mill Valley and Southern Marin County. As people look for more space, privacy, and a quieter lifestyle, they are turning to areas like Mill Valley, which offers a combination of natural beauty, outdoor activities, and high-end amenities.
Even with recent instability in the financial markets, the luxury real estate market in Mill Valley hasn't seen as much of a fall off as surrounding luxury markets, a testament to the desirability of the city.
This shift in post-pandemic demand has caused the Mill Valley luxury real estate market to surge, with an increase in prices and competition for properties. The demand is particularly high for properties with spacious outdoor areas, home offices, and proximity to hiking and biking trails.
First and foremost, the pandemic has forced many people to spend more time at home. With offices, schools, and other public spaces limited in capacity, people are spending more time in their homes than ever before. This has made space a valuable commodity, as families need room to work, study, exercise, and relax without feeling cramped or crowded.
As a result of these factors, there has been a significant increase in demand for larger homes with more square footage. In Mill Valley, many buyers are looking for homes with four or more bedrooms, multiple living areas, and outdoor spaces. These types of properties offer the space and flexibility that families need to adapt to the challenges of the pandemic.
With more people at home all the time, it can be difficult to find a quiet place to work or study, especially in households with multiple people. Having a dedicated home office or study room can help create a sense of privacy and separation, which can be especially important for people who need to attend virtual meetings or classes.
Additionally, the pandemic has created a desire for outdoor space. This has led to a surge in demand for houses with large yards, patios, and outdoor living areas. These spaces provide a safe and private place for families to enjoy fresh air and sunshine without having to venture out into public spaces.
The rise of remote work has also contributed to the shift in real estate trends. With many companies adopting work-from-home policies, people are no longer tied to living in or near urban centers like San Francisco. Instead, they can live further out in areas like Mill Valley and still have access to employment opportunities, albeit from a remote location.
Overall, the current luxury real estate trends in Mill Valley reflect a desire for more space, privacy, and access to nature, which have become even more important in the wake of the pandemic. As remote work continues to gain popularity, it is likely that these trends will persist in the coming years.
If you have any questions, text me.
Here are the top 5 most expensive home sales in Menlo Park, CA in June 2023:
These sales significantly exceed the average sale price of a single-family home in Menlo Park in 2023, which is approximately $2,928,636. This demonstrates the wide range of home prices in Menlo Park, with luxury properties reaching into the multi-million dollar range.
If you are looking for a home in the area, I'd love to help. Book a call below.
As spring brings new signs of life to the Bay Area housing market, luxury real estate in Mill Valley, California is also experiencing a shift in trends. According to the Bay Area housing market forecast for 2023, the market is expected to remain strong, with continued demand for high-end properties. This sentiment is echoed in a recent report from SF Standard, which notes that the Bay Area housing market is beginning to recover from the pandemic-induced slowdown and that the spring season is expected to bring increased activity and sales.
One factor driving this recovery is the increased availability of COVID-19 vaccines, which has led to more confidence among buyers and sellers alike. This increased confidence is expected to translate into increased activity in the luxury real estate market in Mill Valley, with more buyers looking to purchase high-end properties as the economy continues to recover.
At the same time, the trends that emerged during the pandemic are expected to continue to shape the market in 2023. The desire for more suburban and rural properties is expected to remain strong, particularly as companies continue to offer remote work options. This trend is supported by the SF Standard report, which notes that suburban and rural properties are seeing increased demand as buyers look for more space and privacy.
To appeal to this changing market, sellers of luxury properties in Mill Valley are increasingly emphasizing the unique features of their properties, particularly outdoor space and other amenities. As noted in the Bay Area housing market forecast for 2023, luxury properties that offer these features may be able to command a premium price, particularly as buyers look for more space and opportunities for outdoor activities.
At the same time, the report from SF Standard notes that the Bay Area housing market is becoming increasingly competitive, with more buyers vying for a limited supply of homes. This competition is expected to be particularly pronounced in the luxury market, where buyers are often more discerning and have more specific requirements. As a result, sellers of luxury properties in Mill Valley are turning to innovative marketing strategies, such as virtual tours and other digital tools, to showcase their properties and reach a wider audience.
Despite these challenges, the luxury real estate market in Mill Valley is expected to remain strong in 2023, with continued demand for high-end properties. The unique combination of natural beauty, excellent schools, and easy access to San Francisco is expected to continue to attract high-end buyers to the area. With the market beginning to recover and the spring season bringing increased activity, now is an opportune time for buyers and sellers alike to explore the luxury real estate opportunities in Mill Valley.
Q4 was a coup de grâce for what was the obvious turning point of a bull market. The downturn affected each and every pocket in the real estate sector, and few neighborhoods/areas were spared. For the first time in over a decade, the Marin real estate market shifted from a seller's market to a buyer’s market.
There are more deals available in Marin county than I've seen in my entire career. Single-family homes sitting on the market for 90 days plus, condominiums seeing little to no desirability in places, and the luxury market took one of the biggest hits in the nation.
Beautiful turn-key properties are still selling well. There will always be a market for location + turn-key, but anything less than that might need to consider a remodels prior to listing in Spring '23.
The Condominium Market
The condominium market in Mill Valley performed well in Q4 considering the obvious desirability swing. Condominiums are usually the first micro-pocket of the real estate market to be effective in downward trends, as entry-level buyers are the most rate conscious. HOA fees become a burden, and certain HOA communities with high fees become almost unattainable.
However, Q4 showed a strong rebound from the floor of the market with 11 total sales selling above a $1m average each. Although it took an additional two weeks per sale, I'm sure sellers were happy to get their units sold.
Expect a similarly positioned market in Q1 of '23.
The Median Market
Although there was a slight dip in price in Q4, the Mill Valley median market is still one of the best-performing markets in the Bay Area, if not the country. Mill Valley's desirability hit all-time highs in the early days of the pandemic due to its proximity to San Francisco coupled with its natural beauty.
With roughly a quarter of this year’s sales closing in Q4 at an average of $2,447,000, there were still obvious signs of desirability no matter the macro-market conditions. Homes were still selling in under a month on average, a state that not many other markets can match.
With such low inventory at any given time combine with seemingly peak demand, I would anticipate Q1 to look very similar to last year.
The Luxury Market
The luxury market was massively impacted in Q4, which is typical of luxury markets in downturns. The average price for a luxury property in Mill Valley dropped by $800,000 with 9 homes selling significantly below the 2022 average.
However, with an average of only 38 days on market, it's safe to assume there is still a significantly strong demand for luxury homes in Mill Valley.
With no impending changes to corporate culture and San Francisco companies minimizing their office footprint, expect to see more executives seeking long-term solutions to their housing situation outside of the city. Mill Valley is positioned well to continue to attract affluent buyers.
Projecting Ahead To Next Month/Quarter
Q1 will set the tone for the coming year more so than any other quarter in recent memory. The entirety of the real estate community is sitting on the edge of our seats eagerly hoping for a strong sales quarter and a renewed confidence that we've seen the worst of the correction. With rates already decreasing toward the tail end of Q4, it seems like we've already experienced the bottom of the market.
I could easily see a full year of price stagnancy in 2023, with property values staying mostly level with the prices we're seeing now, down < 10% from the Q1 "22 peaks. Prices across Marin were appreciating at 15-20% year over year during COVID, which was an absolutely absurd pace.
We are now in a buyer's market. There are more opportunities in the market for the savvy than ever before.
Marin County intimately felt what the rest of the country has been feeling this past quarter; a drastic slow down in sales, sales prices deflating, supply of homes on-market rising, and time on-market to sell homes is increasing. All reflections of a shifting market.
Sales in September '22 were down 32% compared to September '21.
Days on market (time to sell a home) are up 16%.
Months supply of homes on market is UP 30%.
We've been heavily accustomed to a strong sellers market, but recent macro-economic events have swung Marin into a more normalized market comparative to traditional markets all over the country, if not putting power in buyer's hands. If you've been waiting to buy a home, now is seemingly the best time to buy property since '09.
The Condominium Market
Q3 saw 6x total sales at 876k, within 10% of the yearly average sales price of $988k. However, the two previous quarters saw an average of 26x sales per Q, signaling a massive demand decrease. Traditionally, the condominium market is the first to feel the pinch of rising rates as most condominium buyers are significantly more rate sensitive than median & luxury buyers.
The Median Market
Median homes, indicative of Marin's ability to weather any storm, proved themselves once again. 60x sales averaging $2.385M, just slightly down from the yearly average of $2.48M. Expect turn-key homes in median markets to continue to be in high demand.
The Luxury Market
8x luxury estates sold in Q3, averaging $5.97M per home, which is up from the Q1&Q2 average of $5.04M. As typical with 1st-Tier Bay Area real estate markets, there will always be buyer's with capital willing to spend on top of the market properties in Mill Valley.
Projecting Ahead To Next Month/Quarter
With interest rates rising seemingly month after month, and Thanksgiving & The Holidays on the horizon, Q4 doesn’t project well as the turn of this market.
Instead, given the current trends, Q4 should be viewed by buyers as one of the most opportunistic times to buy property in the past decade. Most seller’s opting to try and sell in this market are doing so out of necessity, and it’s worth remembering that most sellers have seen 50-60% appreciation over the past 5 years which allows for significant wiggle room on final sales price should buyers get the opportunity to negotiate rather than a be in a multiple offer situation.
I anticipate the Fall market to run from October 1st through ~ Thanksgiving, then we’ll see a significant lull in listings on the market, sales volume, etc.
After a statistically insane few years, the tail end of Q2 saw massive change in the real estate industry. Macro-economic events played a major role in the financial stability of all markets, real estate included, but none more significantly than interest rates essentially doubling in just a handful of months.
Mill Valley, and most of Southern Marin has seen property value gains in excess of 20% year over year since 2019, an insatiable growth curve.
With inflation running rampant & rates projected to rise at least 2x more before the end of 2022, the writing is seemingly on the wall that the real estate market will follow both the stock & crypto markets with significant price corrections. Luckily, this pocket of The Bay is so highly sought after, demand should offset value reduction.
The Condominium Market
Only 8 sales in all of Q2 says it all. What we’re seeing in the condominium market toward the end of Q2 was a buyer pool that had drastically lost buying power. Buyers in this price range are massively rate conscious, and it’s likely the first time they’ve ever seen interest rates above 6% in their lifetimes. Psychologically, this is probably the biggest hurdle that all homes for sale in this price range will face.
The Median Market
The median/trade-up market hasn't statistically been affected, yet. The trade up market is typically that first jump up from the starter home market, and typically what we call the Median Market in SF & Marin. Sellers here are just starting to feel the effect of the entry-level market losing steam. With entry level homes having a harder time finding a buyer, it’s putting a strain on people's ability to trade up to an SFH.
The Luxury Market
We’ve seen a luxury boom all across SF & Marin over the past 12-18 months with some luxury markets up 50% percent in just a handful of years. Clients in these price points are less affected by macroeconomic events and tend to transact out of want rather than need. The luxury market stands to be significantly less affected than the median or condominium markets. But don't expect the same appreciation moving forward.
Projecting Ahead To Next Month/Quarter
I would anticipate a similar market to the one we're currently experiencing for the next quarter; 6-7% rates, an entry-level market reeling for stability, and a mostly flat median market.
While I wouldn't expect to see single family home values to drop at all, I wouldn't expect them to rise, either. Demand is still insatiably high for the lifestyle Mill Valley provides, and there is still plenty of cash and equity in the Bay Area for residents to buy-sell property.
I think we will find 'the bottom' once the Russia-Ukraine situation has a definitive and positive plan for moving forward, oil markets steady, and U.S. inflation is under control. Unfortunately, I don't see those 3 things all happening in Q3.
Q1 was down slightly from 2021 numbers in Mill Valley, which seems understandable given the drastic price increases we saw last year, although buyer attention remains at an all-time high.
The condominium market stabilized to an average of $900k in Q4 '21 & Q1 '22, after a rapid growth spurt leading to some believing the market was overvalued.
We're still seeing 20+ disclosure requests and a handful of strong offers for most homes in the median price point. Turn-key is selling at a lightning pace.
The luxury market saw a supply drop over the turn of the new year, with only 8 homes selling in Q1. Although the median price of those 8 was significantly lower than the '21 median for this market segment, the $/foot for these homes actually increased.
The Condominium Market
The condominium in Mill Valley continued the trending correction from Q4 of '21. The general consensus is that the condo market became overvalued in mid '21, soaring from pre-pandemic levels in excess of 40%. While we are still drastically up in 2019, the median has seemed to stabilize around 900k over the past 2 quarters.
The Median Market
For the purposes of defining the line between the median market & the luxury market, $1,000,000 above or below the median at the time of this report is considered the market for a median home, whereas anything $1M above or greater tends to correlate better to the luxury market.
This market segment is as hot as any pocket in the country. While Q1 showed a minimal deficit from 2021 levels, the demand is still sky-high. The supply for median single-family homes has been almost non-existent, or at least it feels that way from a buyer's perspective.
Days on market are still low, and demand for turn-key starter homes is through the roof. Expect to see Spring ‘22 bring about a spike in sales activity as listings hit the market.
The Luxury Market
The luxury segment of Mill Valley saw one of the steepest fall offs from 2021, down ~ $900,000 from '21 averages, but the average price per foot has actually increased.
Again, due to a seriously low supply, luxury buyers are grabbing at the best available, which isn't much. I would anticipate a jump back toward a median of $5M for a luxury home in Q2/Q3 of this year.
Projecting Ahead To Next Month/Quarter
It's hard to fathom a slow down on the horizon, but it seems to be nearing. With the median housing market racing to $2.5M, I wouldn't be surprised if those buyers continually getting beaten out in the single family market turn to the condominium market, and seek premium condominiums in top-tier locations. The single family home market Bay Area-wide is exploding, continually pushing 20 to 30% above previously recorded highs, and in some cases more than 40%.
There are certain events on the horizon that have the power to decrease the speed of growth; rate hikes or WW3 for example, but given the modern real estate asset (ability to short term lease, find nightly tenants at sky-high rates, etc) is so much more functional than bubbles-past, it's hard to define if it will slow down in 2022.
Q4 highlighted the growing concern that the market couldn't maintain such rapid rate of growth in Mill Valley Days on market steadily increased, sales values steadily dropped off, and the market was left reeling after an explosive pandemic period.
The condominium market saw 12 sales record more than $100,000 below the yearly average. Mill Valley's condo market was driven up throughout the pandemic as the <$1M buyer raced away from San Francisco in all directions. Q4 seems to have signified a correction, at least in the condominium market.
The median single family market was down almost $500,000, and the luxury market doubled the amount of time it took to sell a home. Mill Valley was moving at a breakneck pace all 2020 and through summer '21, but began to show signs of a correction in Q3 of '21. This can more than likely be attributed to an oversupplied market. Everyone wanted to capitalize on the gold rush, so more properties were listed than we would see in a regular year (497 in 2021 vs. 410 in 2019).
While desirability in Mill Valley remains high, the market was over supplied toward the end of 2021, as everyone tried to capitalize on the insatiable demand we had been seeing since early 2020. Less desirable listings trying to sell for peak market pricing was the main contributor to deflated market values in Q4.
The key statistics we will use to objectify market data are as follows:
Total Number of House Sales In Q4: 77
Average Monthly Sales In 2021: 3
Average Sale Price Of Houses In Q4: $2,335,000
Average Sale Price In 2021: $2,487,000
Mill Valley’s Avg Price Per Square Foot Sold (all property types):
Average Sale Price Of Condominiums In Q4: $852,000
Average Sale Price In 2021: $991,000
Average Days On Market in Q4 (all): 32
Months of Supply (total active listings/monthly sales rate): 0.3
Average Supply in 2021: 0.8
General sentiment from agents: Mill Valley had one of the steepest gains of any neighborhood Bay Area wide throughout the pandemic, leading to an undersupplied market with fewer and fewer desirable properties coming as the year came to a close.
Buyer demand is still sky high, but certainly less than it was when everyone was racing to evacuate San Francisco looking for relative proximity and serene beauty. Desirable properties will still move quickly, but we might have passed the peak, at least for now.
Selling a home is a significant financial transaction that involves numerous steps, from preparing your home for sale to closing the deal. This guide will walk you through the selling process in Menlo Park, CA, providing you with valuable insights and best practices to ensure a smooth and successful sale.
Before listing your home, consider making necessary repairs and improvements. This could range from minor updates like a fresh coat of paint to more significant renovations like updating the kitchen or bathroom. Remember, the goal is to make your home as appealing as possible to potential buyers.
Staging your home can help it sell faster and potentially for a higher price. This involves arranging furniture and decor to highlight your home's best features and help buyers visualize themselves living there.
Setting the right price for your home is crucial. Price it too high, and you risk sitting on the market; price it too low, and you could leave money on the table. Conduct a comparative market analysis to determine a competitive price based on similar homes in your area.
Effective marketing can help attract more potential buyers. This includes professional photography, a compelling property description, and listing your home on popular real estate websites. Consider hosting open houses and private showings to give buyers a firsthand look at your property.
Once you start receiving offers, you'll enter the negotiation phase. This involves reviewing each offer and potentially making counteroffers. It's important to consider not only the offer price but also the buyer's financing, the closing timeline, and any contingencies.
After accepting an offer, you'll enter the escrow process. This involves a home inspection, appraisal, and title search. During this time, the buyer will be finalizing their financing. It's crucial to address any issues that arise promptly to keep the process moving forward.
The final step is the closing, where all parties sign the necessary paperwork, and ownership of the property is transferred to the buyer. You'll receive the proceeds from the sale, minus any outstanding mortgage balance and closing costs.
Selling a home is a complex process that requires careful planning and execution. However, with a clear understanding of the steps involved and the right strategies, you can navigate the selling process with confidence and achieve a successful sale.
If you need an agent in the area, I'd love to help. Book a call below, or send me a text and we can arrange a time.
The Marin real estate market shifted into new territory in Q1, shedding the weight of the drastic rate-hike market and re-balancing itself into a more normalized market comparative to the rest of the country.
Typical markets see homes sitting for 21-30 days before selling, with the best turnkey properties being the ones attracting the most attention and selling above asking. Although Marin has seldom operated in parallel with 'normal', it seems we're now getting a taste of it.
Properties priced right & presented well are still moving quickly, but anything less-than turnkey, especially if it's priced inline with a 3% rate market rather than today's rates, DOM will accumulate. With higher rates we are seeing monthly payment affordability issues & pricing needs to reflect this.
Condo Market
The average price of a condominium in Mill Valley increased by $87,000 in Q1, starkly different from the performance of all surrounding condo markets.
Ironically, the price per foot decreased by over $200/foot, indicating the size of the condominiums sold over the 5x sales to record in Q1 were larger than average.
$sqft is much more relevant in the condominium markets than for single-family homes and can be generally used to assess the desirability of the condo market when comparing periods.
We've seen affordability be massively affected in recent months, and buyers in the condominium market are typically most affected by increased rates.
Median Market
The average price for a property in Mill Valley's single-family market dropped by $450,000 in Q1 '23, took almost twice as long to sell, and less than half of a typical sales volume sold.
The median home market took a nose dive, but fortunately (or unfortunately) this wasn't too different from the surrounding neighborhoods. Mill Valley & San Rafael have the highest volume of sales in Marin in any given quarter, and both saw a massive decline in overall sales, highlighting the affordability issues sweeping the market.
Sales in Mill Valley were as bleak as we've seen them in recent memory, recording only 18 total sales in Q1. Traditionally we see 45-60 sales per quarter in MV. Entry-level and median buyers are the first affected by rising rates.
Luxury Market
Only 2 properties sold above $4.5M in Mill Valley this quarter. Sale prices remained steady in the luxury market, but the drop in volume is indicative of what we're seeing in the rest of the market.
Affordability above $4M is assumed to be more cash-buyer dominant, which is true, but savvy buyers always leverage their assets with borrowed capital, and the cost of that capital has jumped, decreasing the demand for expensive homes.
Mill Valley is a top-tier luxury market around the Bay, on par with Tiburon, Atherton & Palo Alto, which have shown pricing resilience throughout this higher-rate market. But at a point, buyers just don't want to buy, and that's what we saw in Q1.
The general theme of macro-economic activity is more-of-the-same. We're seeing a steady diet of stress events like Silicon Valley Bank's collapse and the sell off of others, First Republic flailed for a moment which caused the entire real estate market to hold it's breath (FR is San Francisco's leading residential mortgage lender), and tech companies are laying off employees and axing non-revenue generating business activity, all typical during periods of tightening.
Also, the fed raises rates again at the turn of Q2 by 25bp and plans of doing this a few more times. However, and this is a BIG however, California is a sunshine state. People don't go to open houses in the rain (we're ridiculous, yes). With the sun back out, I wouldn't be surprised if we saw a flurry of activity.
Learn more about Mill Valley
If you have any questions, text me.
Investing in real estate can be a profitable venture, especially in a city like San Francisco, which is known for its thriving economy, diverse population, and technological innovation. However, to make strategic investment decisions, one must have an in-depth understanding of the current trends in the market. This comprehensive guide is designed to explain the most critical factors contributing to San Francisco's current real estate trends.
One of the main drivers of San Francisco's real estate market is the city's booming tech industry. Home to many of the world's leading tech companies and startups, the city attracts a vast pool of high-earning professionals looking for convenient housing near their workplaces. The high demand from these tech professionals has driven up prices for both rentals and property sales, making the city one of the most expensive real estate markets in the United States.
However, the COVID-19 pandemic and subsequent shift to remote work have prompted many tech companies to reconsider the necessity of maintaining physical office spaces. This shift has led to an exodus of some tech professionals from the city, seeking more affordable or spacious housing options. This trend, known as "urban flight," has led to a slight softening of the rental market in certain neighborhoods.
As mentioned above, the recent trend of "urban flight" has been a game-changer in San Francisco's real estate market. Due to changes in working habits and the search for more affordable housing, many residents have moved out of the city to surrounding suburban areas.
This trend has led to a dip in demand for properties within city limits, especially in the rental market, which experienced decreases in rental prices throughout 2020 and into 2021. On the other hand, suburban areas around San Francisco have seen an increase in demand, with prices in these areas rising due to increased interest.
San Francisco's high-rise condo market has experienced a noticeable shift due to the pandemic and the "urban flight" trend. With more people working from home and desiring outdoor space and privacy, the demand for condos in densely populated areas has decreased. Consequently, there's been an increase in inventory and a softening of prices in the condo market, which traditionally has been a high-demand sector in San Francisco real estate.
The city's rental market has also experienced significant shifts due to the pandemic. Lower demand from tech workers and the student population—because of remote work and online classes—has led to a decrease in rental rates for apartments and condos.
Despite the slight softening of the market, San Francisco remains one of the most expensive cities in the U.S. for real estate. The high prices have led to lower homeownership rates compared to the national average, with many residents opting to rent instead. This trend presents opportunities for investors looking to invest in rental properties.
However, it's worth noting that San Francisco's government has various initiatives in place to increase affordable housing in the city, which could impact future trends in the real estate market.
Investing in San Francisco's real estate market requires a nuanced understanding of its unique dynamics and trends. The tech industry's influence, "urban flight," shifts in the condo and rental markets, and issues of housing affordability are all pivotal factors shaping the current landscape.
While these trends pose certain challenges, they also present opportunities for strategic investors. For instance, the softening condo market may offer investment opportunities at lower prices, while the robust rental market in the suburbs may present profitable avenues for investment.
Remember, real estate investing is a long-term strategy that requires patience, persistence, and adaptability.
Keep an eye on evolving trends, adjust your strategies accordingly, and continue to build your knowledge base. San Francisco's real estate market, with all its complexity and dynamism, can be a rewarding realm for those ready to delve into its depths.
If you need help putting a plan together, or searching for you next property, feel free to email me any questions you have.
Mission Bay is slowly regaining traction, with the 1 + 2 bedroom markets picking up steam late in 2021.
Traditionally we see a 30-day market in Mission Bay, with most-all units selling the same month they're listed. After a severely deflated pandemic, the 1 bedroom market continued to regain traction deep into Q4. Days on market dropping by 1/4 was a huge signal to the agent community that 1 bedroom buyers are coming back into the market, anticipating back-to-office in late Q1 of 2022.
As Days On Market continues to return to normal levels, and more buyers purchasing homes later into the holiday season than we see in regular years, Spring '22 is set to see a massive flood of buyer activity.
3 bedroom condominiums were the heaviest hit. Buyers who traditionally seek larger units are permanent city residents, typically older families, that need space but don't want to do any maintenance work.
With this buyer pool transitioning into the single family home market, we are waiting to see who will take their place. Q4 compounded on a year of continual regrowth for Mission Bay.
The key statistics we will use to objectify market data are as follows:
Total Number of Sales In Q4: 40
Average Monthly Sales In 2021: 15
Average Sale Price In Q4: $1,382,000
Average Sale Price In 2021: $1,305,000
Average Days On Market in Q4: 37
Months of Supply (total active listings/monthly sales rate): 1.8
Average Supply in 2021: 5.8
General sentiment from agents: The condominium market as a whole has mostly regained all losses from the pandemic, and buyer demand continues to steadily climb. Mission Bay has been moving slightly slower than surrounding areas, mostly due to an expectation from sellers that units needed to sell above what they bought them for. The problem; a large percentage of homeowners in Mission Bay bought between 2017-2019, generally regarded as the peak of the market.
With back-to-office impending, albeit with the new normal of hybridized office work, we believe you’ll quickly find that people will get sick of their new commute and condominium demand will continue to steadily increase.
Noe Valley continued to showcase why it's the most desirable single family/neighborhood pocket south of Market Street, with all 3 market segments moving at break-neck pace.
Q4 continued to show positive signs for the condominium market leading into 2022. Noe has been continually increasing in value all 2021, with Q4 being the only quarter where we saw a slight dip in average sales price, but consider it nominal.
The median single family home value has eclipsed $3,000,000 for the first time in history this year, and it's trending toward $3,500,000 faster than expected. I wouldn't be surprised if we were there by Summer '22.
Every home that hits the market was selling within 2 weeks in Q4, about as fast as any market nationally. We anticipate this micromarket to eventually steady out, it seems unfathomable to keep growing at this pace.
The luxury real estate market here has also seen explosive growth, taking only 7 days on average to sell homes $1M above the median.
Noe Valley will more than likely remain a sellers market for the foreseeable future.
The key statistics we will use to objectify market data are as follows:
Total Number of House Sales In Q4: 36
Average Monthly Sales In 2021: 14
Average Sale Price Of Houses In Q4: $3,041,000
Average Sale Price In 2021: $3,155,000
Average Sale Price Of Condominiums In Q4: $1,535,000
Average Sale Price In 2021: $1,580,000
Average Days On Market in Q4: 21
Months of Supply (total active listings/monthly sales rate): 0.8
Average Supply in 2021: 2.0
General sentiment from agents: Noe Valley was one of the few SF markets that went completely un-phased during the pandemic, if anything it actually increased in desirability while the rest of the city squandered. 2022 is primed for an explosive Q1, and anyone in the market needs to be ready to act immediately or risk being beat-out.
The Northside of San Francisco got pummeled in Q4 with prices being slashed across all market segments. The condominium market was down 200k on average, the median single-family market down 850k, and the luxury market down 2.5M. Only 29 sales across all property types closed & the unspoken data not represented here are the 98 listings that either didn't sell in Q4 or were taken off the market due to a lack of interest.
This might be the biggest dip in desirability in demand for the most historically desirable districts in San Francisco. The only other demand swing I have seen of similar magnitude was for the condominium market in downtown SF during the early days of the pandemic.
While buyers may seem out of the market, any given property can sell quickly if presented well.
The Condominium Market
It's safe to say, no one wanted a condominium in Q4. with barely 1/8 of the year’s sales landing in the 4th quarter, buyer demand drastically fell off after continual rate hikes and unrealistic seller expectations.
Given the condominium market is the first to feel the effects of rate hikes, you often see buyer demand fall off a cliff. That was highly evident in the Northside of San Francisco. Buildings with higher HOA fees saw almost zero demand in Q4. Of the properties that sold similar to the early days of the pandemic; views, outdoor space, and parking were sought out.
With so many listings being pulled in Q4, expect to see the majority come back this Spring with a new price & tapered seller expectation. Once sellers can meet the market pricing, expect to see a flurry of sales.
The Median Market
Unfortunately for single-family properties across the Northside of SF, homes seldom sold in Q4. 3 sales accounted for the entirety of market activity in Q4, with 10 properties either still active at the turn of the new year, or pulled off the market due to a lack of interest.
The avg. price dropped by ~$850k in Q4. Given the small subset of homes that fit in the median category (avg. sale price +/- $1M), this data is somewhat skewed. This market is massively undersupplied and notoriously content with more days on market than the city average. Homeowners know the value of their assets, and there is a location like the Northside.
With fluctuating demand, it's strongly advised sellers do everything they can to create a beautiful turn-key experience for buyers.
The Luxury Market
Similar to the median, the luxury market across the Northside of SF saw a decline in sales activity in Q4. The average sale price for a luxury estate dropped by $2,500,000, from 7.8M to 5.3M. Demand for luxury estates in San Francisco has seen a steady decline since the beginning of the pandemic market, but few quarters saw as drastic a swing as the one previous.
While buyers for these homes often aren't influenced by rates, savvy buyers will always leverage capital & the cost of capital has increased. San Francisco's attractiveness to luxury price point buyers has also taken a massive hit; corporations downsizing & opting for remote work has left C-level exec's assessing their need to be centrally located.
While the market will surely rebound, 'when' is anyone's guess.
Projecting Ahead To Next Month/Quarter
Although Q4 seems doom & gloom, the relative lack of sales data across all market segments makes it hard to project a similarly poor-performing quarter. All previously listed properties will more than likely still be seeking a sale, and with rates already trending downward, I wouldn't be surprised if there was a surge of transactions in Q1.
Sellers will need to meet the market price with their expectations. Now that buyers have stomached the rate increases for the better part of 2 quarters, coupled with the shift to rates trending down, expect to see a flurry of market activity for people trying to time 'the bottom.'
If you've been on the fence, now is the time to jump. There might not be a more opportunistic time as buyers currently hold all the cards in any given negotiation.
The Northside of San Francisco is a real estate market like few others on earth. The most desirable neighborhoods in one of the most desirable cities in the country seem to create that bubble within a bubble effect. Q1 picked up right where it left off after a record-breaking 2021.
It now costs $1,750,000 to enter the condominium market between North Beach, Russian Hill, Cow Hollow & Marina.
The median market took an aggressive turn for the worst, trending down from a $5M average in '21 to $4.2M (pending type of house, size, obviously).
The luxury market (homes $1M above the median) saw 3x sales above $5.8M, all taking less than 2 weeks to sell. Demand remains sky high for Northside homes.
The Condominium Market
It now costs north of $1,750,000 to own a condo on the Northside. Prices keep climbing despite signs of macro-market slow down. The demand for condos actually increased in Q1, averaging just 25 days on market for property to move, and almost $1,300/foot.
The Median Market
For the purposes of defining the line between the median market & the luxury market, $1,000,000 above or below the median at the time of this report is considered the market for a median home, whereas anything $1M above or greater tends to correlate better to the luxury market.
The median single family home market dipped in Q1, with more than half the number of total sales last year happening, at almost $1,000,000 below where homes were selling last year. Price per foot didn't dip as heavily as average sales price, indicating demand remained high, homes were just smaller in size.
Framed by supply issues - there just aren’t many median single families in the Northside neighborhoods - The Northside median market will always be a low-supply, high-demand (in theory) market pocket.
The Luxury Market
The nuances of the luxury market will be forever interesting in San Francisco.
One year you see an average of 8 figures for a luxury property, the next, a $5,000,000 price drop.
One year it takes three months to sell a home, the next, barely 2 weeks.
Bottom line, there is always a buyer for a luxury property in this market, and there will always be major fluctuations based on the homes available at any given time.
Projecting Ahead To Next Month/Quarter
With interest rates on the rise and the macro Bay Area feeling the pinch, it's logical to think Northside SF neighborhoods will see buyers more hesitant to spend what they've been spending these past few years.
While true, this pocket of San Francisco tends to be the most protected from macro events. Real estate here is so low in supply, and all it takes is a cheap face-lift to serve a turn-key property on a silver platter to willing and able buyers, and turn-key here historically sells quickly in any market.
I anticipate the median condo market will be affected most over the next quarter, beginning the trend toward a declining real estate market with 6 rate hikes on the horizon between now and Q4 2023. However, I don’t necessarily think we’ll see falling prices, just a falling growth rate.
After a statistically insane few years, the tail end of Q2 saw massive change in the real estate industry. Macro-economic events played a major role in the financial stability of all markets, real estate included, but none more significantly than interest rates essentially doubling in a few of months.
The Northside of SF, and SF in general, has seen value gains in excess of 15% Y-O-Y since '19. Q2 was no different; massive value jumps across the board.
With inflation running rampant & rates projected to rise at least 2x more before the end of 2022, the writing is seemingly on the wall that the real estate market will follow both the stock & crypto markets with significant price corrections. Luckily, this pocket of the city is so highly sought after, demand should offset value reduction.
The Condominium Market
Condominiums sold well in Q2 contrary to what we’ve been seeing in the overall condominium market; a buyer pool that had drastically lost buying power. Buyers in this price range are massively rate conscious, and it’s likely the first time they’ve ever seen interest rates above 6% in their lifetimes. Psychologically, this is probably the biggest hurdle that all homes for sale in this price range will face.
The Median Market
The trade-up market is typically that first jump up from the starter home market, and typically what we call the Median Market in SF. With seller’s of entry level homes having a harder time finding a buyer, it’s putting a strain on their ability to buy their next home. Given the price point, the median market here functions more closely with surrounding areas luxury markets; less affected by macro-events.
The Luxury Market
We’ve seen a luxury boom all across SF & Marin over the past 12-18 months with some luxury markets up 50% percent in just a handful of years. Clients in these price points are less affected by macroeconomic events and tend to transact out of want rather than need. The luxury market stands to be significantly less affected than the median or condominium markets. But don't expect the same appreciation moving forward.
Projecting Ahead To Next Month/Quarter
I would anticipate a similar market to the one we're currently experiencing for the next quarter; 6-7% rates, an entry-level market reeling for stability, and a mostly flat median market (contrary to Q2 data).
While I wouldn't expect to see single family home values to drop at all, I wouldn't expect them to rise, either. Demand is still insatiably high for the lifestyle these neighborhoods provide, and there is still plenty of cash and equity in the Bay Area for residents to buy-sell property.
I think we will find 'the bottom' once the Russia-Ukraine situation has a definitive and positive plan for moving forward, oil markets steady, and U.S. inflation is under control. Unfortunately, I don't see those 3 things all happening in Q3.
San Francisco endured one of its most challenging sales quarters of recent record in Q3 of 2022. Sales are drastically down with only 1382 total sales compared to 1979 in Q3 ‘21; aka 31%.
The average price in SF (all property types) was $1,572,000 in 06/01, and is down to $1,360,000 as of 10/01, signaling the correction from a strong seller's market to somewhat more of a regular market.
Typical real estate markets across the U.S. act very similarly to the one we are experiencing today; ~ 6 months of inventory available, properties taking closer to a month to sell, and buyers have the more ability to negotiate prices & terms.
If you’ve been hoping for a more favorable market to get a deal on the buying side, this is the best opportunity that we’ve seen since 2009.
The Condominium Market
The condominium market on the Northside was one of few San Francisco pockets that actually grew in Q3; the Average price jumped from $1.71M to $2.15M, with significantly fewer total sales than in previous quarters. This is a function of location, location, and location. In depressed markets, buyers value location more than ever.
The Median Market
With only 3 median house sales across the entire Northside, it's hard to correlate sales data. 3x sales averaged $4.3M, compared to the typical median value of $5.2M we've seen in quarters past.
The Luxury Market
Similar to the median market, only 3x sales recorded for luxury properties in Q3. Although the average price for a luxury estate has dipped from $11.4M to $9.3M in recent months, there are buyers out their for top-of-the-market properties.
Projecting Ahead To Next Month/Quarter
With interest rates rising seemingly month after month, and Thanksgiving & The Holidays on the horizon, Q4 doesn’t project well as the turn of this market.
Instead, given the current trends, Q4 should be viewed by buyers as one of the most opportunistic times to buy property in the past decade. Most seller’s opting to try and sell in this market are doing so out of necessity, and it’s worth remembering that most sellers have seen 50-60% appreciation over the past 5 years which allows for significant wiggle room on final sales price should buyers get the opportunity to negotiate rather than a be in a multiple offer situation.
I anticipate the Fall market to run from October 1st through ~ Thanksgiving, then we’ll see a significant lull in listings on the market, sales volume, etc.
The San Francisco real estate market experienced a shift towards normalization in Q1, moving away from what we typically see in SF; multiple offers, properties selling way over asking price. This has resulted in homes sitting on the market for longer, and some not selling at all.
Properties that are well-presented and priced correctly are still in high demand and will move quickly, but anything less-than turnkey and priced according to the old 3% rate market rather than the current rate environment will sit on the market significantly longer. There is an affordability issue in this higher rate market, especially for lower-median priced homes, as buyers in these price points are heavily rate conscious. Pricing strategy is more important than ever.
Condo Market
Condominium sales in the Northside of San Francisco have been reeling since rates increased. Total sales are down, price per foot is down, and it's taking double the amount of time to sell.
$sqft is dramatically more relevant in the condominium markets than single-family homes and can be generally used to assess the desirability of the condo market when comparing periods.
$1170/foot in Q1 '23 over 23 sales vs. $1324 in all of 2022 over 194 sales is a compelling statistic. Yes, the market is down, but there is still a market of turnkey, desirable condos.
We've seen affordability be massively affected in recent months, and buyers in the condominium market are typically most affected by increased rates.
Median Market
The median housing market on the Northside of San Francisco saw only 1 property sale in Q1 of '23.
The single sale did close > $1M above market average for $5,550,000M, however. The caveat, it sat on the market for 189 days, highlighting a significant pull back in market activity, and the need to price strategically and present a turnkey property.
North Beach, Russian Hill, The Marina, Cow Hollow do typically see less single family home sales that surrounding areas, but 1 sale over the entire quarter is much less than expected.
Luxury Market
The luxury property market in the Northside of San Francisco saw one massive sale in Q1, a testament to the fact there is always a buyer for beautiful, luxurious homes in San Francisco. This $2,200/foot sale moved in just over a month and sold for nearly $2.2M above the 2022 luxury property average.
Luxury markets operate differently to the median and condo markets as buyers are often sophisticated buyers with differing motivations; some are seeking trophy properties in cash during the downturn, others are consciously monitoring the monthly carrying costs of leveraging the bank for real estate assets and deciding it isn't worth the cost.
Luckily, this pocket of the city is home to some of the most beautiful homes in the entire state, and will always generate buyer interest.
The general theme of macro-economic activity is more-of-the-same. We're seeing a steady diet of stress events like Silicon Valley Bank's collapse and the sell off of others, First Republic flailed for a moment which caused the entire real estate market to hold it's breath (FR is San Francisco's leading residential mortgage lender), and tech companies are laying off employees and axing non-revenue generating business activity, all typical during periods of tightening. Also, the fed raises rates again at the turn of Q2 by 25bp and plans of doing this a few more times.
However, and this is a BIG however, California is a sunshine state. People don't go to open houses in the rain (we're ridiculous, yes). With the sun back out, I wouldn't be surprised if we saw a flurry of activity.
Learn more about Northside San Francisco
If you have any questions, text me.
Q1 in Pacific Heights
Q1 in Pacific Heights was everything we expected after a frenetic 2021 campaign; fast, competitive and seemingly ever-increasing in value.
The condominium market eclipsed a $2,000,000 average (for a quarter) for the first time ever. Days on market keep decreasing, and buyer demand hasn't shown any signs of cooling off with rising interest rates.
The median market for single family homes is trending upward at a rate I’d argue has rarely been seen worldwide; up $400k Q1 '22 vs. 2021. Listings are becoming more and more scarce, and demand is unwavering for homes in the local market.
The luxury market saw 2 mega-sales in Q1, averaging just over $14,000,000. Similar to the median, supply is drastically limited, but the market seems to be as stable (and continually growing) as any luxury asset throughout undulating markets.
The Condominium Market
The Pacific Heights condominium market continues to tear through all previously established highs, eclipsing the coveted $2M condominium average for the first time in history over the span of an entire quarter.
37 sales at an average of $1,344/foot is a blistering start to a year. With demand at an all time high and days on market continually trending downward, it seems the market has fully re-established itself. Micro-markets with extreme desirability like Pacific Heights tend to hold firm during the early phases of a downturn, so I wouldn’t be surprised if the condominium market continues trend upward throughout 2022.
The Median Market
For the purposes of defining the line between the median market & the luxury market, $2,000,000 above or below the median at the time of this report is considered the market for a median home, whereas anything $2M above or greater tends to correlate better to the luxury market. Obviously, an argument could be made that there is a buyer pool for every property in the neighborhood up to ~ $40m, but for simplicity, let’s batch.
The median home value in Pacific Heights is up $400,000in Q1, averaging $7,652,000.
There are few markets in history that have achieved such a meteoric rise over a short period of time. For context, the median single family home price in 2019 was $7,000,000, indicating a $300,000 gain per pandemic year in asset value. Although there were few sales, the demand for the properties that do come available seems insatiable.
Similar to other markets, San Francisco locals have had a challenging time capitalizing on the market gain, because if they sell they're put in the predicament of then competing with the demand to secure the next property. Only second home owners & those leaving town have been truly able to capitalize.
The Luxury Market
The luxury market in Pacific Heights is a stalwart in global real estate. The '08 crash couldn't phase it, a pandemic barely rattled it. It's notorious for value stability and growth.
With only 2 sales on record at an average of $14,000,000, it's hard to predict any decline in the demand for world-class properties here.
Projecting Ahead To Next Month/Quarter
With all three markets increasing in value over Q1 '22, it's pretty safe to assume continued growth through at least the end of the Summer. The fed has projected 5 to 6 more rate increases between now and the end of 2023, signaling there may be an end in sight to the current rate of growth.
With that in mind, the table is set for an explosive Spring, Summer & Fall '22 markets.
Homeowners would be wise to consider their holding timeline beyond 2023 with the expectation of buyer’s purchasing power to be more restricted in the relatively near future.
Buyers will need to take the bull by the horns and capitalize on securing a property while rates are digestible. If/once we start seeing rates north of 5% consistently, even though historically still low,, I have a feeling many buyers will have the expectation of landing a property out of their price range, that 6-12 months earlier may have been attainable. My advice; Compete & win the bidding war on any property with novel features that will appreciate well; location, views, backyard, private outdoor space, etc.
The San Francisco real estate market experienced a shift towards normalization in Q1, moving away from what we typically see in SF; multiple offers, properties selling way over asking price. This has resulted in homes sitting on the market for longer, and some not selling at all.
Properties that are well-presented and priced correctly are still in high demand and will move quickly, but anything less-than turnkey and priced according to the old 3% rate market rather than the current rate environment will sit on the market significantly longer. There is an affordability issue in this higher rate market, especially for lower-median priced homes, as buyers in these price points are heavily rate conscious. Pricing strategy is more important than ever.
Condo Market
Condo sales in Pacific Heights rebounded well in Q1 of 2023; Demand remains high.
The average price for a condo increased in Q1 to the north of $1.85M, compared to an average of $1.79M in 2022.
While the price per foot and days on market fluctuated slightly, 25 sales above last year's average show there is still a market for desirable condominiums in Pac Heights.
We've seen affordability be massively affected in recent months, and buyers in the condominium market are typically most affected by increased rates. The Pacific Heights condo market maintaining value is a good sign.
Median Market
The median housing market in Pacific Heights saw only 1 property sale in Q1 of '23.
The average price for a single-family home raced all the way to ~ $9M in '21/'22. I remember when I started tracking Pacific Heights at a ~$4.5M avg. in the Summer of 2018 and thought this neighborhood was undervalued. Fast-forward a few years and we've seen values double, then half.
The single sale closed for $4,200,000M after 31 days on market, highlighting a significant pullback in market activity. However, there are still plenty of buyers in the market for turnkey Pacific Heights homes.
Luxury Market
Similar to most luxury markets around the state, only 1 luxury property traded hands in Pacific Heights for $5,950,000, barely meeting the criteria we use to qualify above a median home.
The luxury property market is the first to be affected when the market shifts, as many buyers are financially savvy and consider primary residences as a liability on their balance sheet, and leverage banks to keep as much capital at play as possible. When securing a luxury real estate asset has a dramatically increased monthly carrying cost.
The general theme of macro-economic activity is more-of-the-same. We're seeing a steady diet of stress events like Silicon Valley Bank's collapse and the sell off of others, First Republic flailed for a moment which caused the entire real estate market to hold it's breath (FR is San Francisco's leading residential mortgage lender), and tech companies are laying off employees and axing non-revenue generating business activity, all typical during periods of tightening. Also, the fed raises rates again at the turn of Q2 by 25bp and plans of doing this a few more times.
However, and this is a BIG however, California is a sunshine state. People don't go to open houses in the rain (we're ridiculous, yes). With the sun back out, I wouldn't be surprised if we saw a flurry of activity.
Learn more about Pacific Heights
If you have any questions, text me.
Luxury real estate in Pacific Heights, San Francisco is experiencing a shift in trends as the Bay Area housing market begins to recover from the pandemic-induced slowdown. According to the Bay Area housing market forecast for 2023, the market is expected to remain strong, with continued demand for high-end properties. This sentiment is echoed in a recent report from SF Standard, which notes that the spring season is expected to bring increased activity and sales to the Bay Area housing market.
The increased availability of COVID-19 vaccines has led to more confidence among buyers and sellers alike, which is expected to translate into increased activity in the luxury real estate market in Pacific Heights. As the economy continues to recover, more buyers are looking to purchase high-end properties in desirable locations like Pacific Heights.
However, the trends that emerged during the pandemic are expected to continue to shape the market in 2023. The desire for more space and privacy is expected to remain strong, particularly as companies continue to offer remote work options. This trend is supported by the SF Standard report, which notes that suburban and rural properties are seeing increased demand as buyers look for more space and privacy.
To appeal to this changing market, sellers of luxury properties in Pacific Heights are emphasizing the unique features of their properties, particularly outdoor space and other amenities. As noted in the Bay Area housing market forecast for 2023, luxury properties that offer these features may be able to command a premium price, particularly as buyers look for more space and opportunities for outdoor activities.
At the same time, the report from SF Standard notes that the Bay Area housing market is becoming increasingly competitive, with more buyers vying for a limited supply of homes. This competition is expected to be particularly pronounced in the luxury market, where buyers are often more discerning and have more specific requirements. As a result, sellers of luxury properties in Pacific Heights are turning to innovative marketing strategies, such as virtual tours and other digital tools, to showcase their properties and reach a wider audience.
Despite these challenges, the luxury real estate market in Pacific Heights is expected to remain strong in 2023, with continued demand for high-end properties. The neighborhood's stunning views, historic architecture, and proximity to some of San Francisco's best restaurants and cultural attractions are just a few of the reasons why it remains a desirable location for luxury home buyers. With the market beginning to recover and the spring season bringing increased activity, now is an opportune time for buyers and sellers alike to explore the luxury real estate opportunities in Pacific Heights.
Marin County intimately felt what the rest of the country has been feeling this past quarter; a drastic slow down in sales, sales prices deflating, supply of homes on-market rising, and time on-market to sell homes is increasing. All reflections of a shifting market.
Sales in September '22 were down 32% compared to September '21.
Days on market (time to sell a home) are up 16%.
Monthly supply of homes on the market is UP 30%.
We've been heavily accustomed to a strong sellers market, but recent macro-economic events have swung Marin into a more normalized market comparative to traditional markets all over the country, if not putting power in buyer's hands. If you've been waiting to buy a home, now is seemingly the best time to buy property since '09.
The Condominium Market
Sausalito's condominium market reeled in Q3; 8x total sales after seeing 25x per quarter earlier in the year, with the average sale price down ~$200k; $812k from $1.02M.
The Median Market
Although total sales were drastically down in Q3, the average sales price in Sausalito for a median home continues to rise; up to $3.02M from $2.45M in prior quarters. However, only 9 sales compared to an average of 20 per quarter at the beginning the year shows that buyers are more hesitant than ever.
The Luxury Market
Sausalito posted 4x luxury property sale in Q3, selling well above the luxury average of $4.0M in previous quarters, with a rapid sale cycle of just 17 days on market to sell. It's hard to assess the effect recent macro-economic events are having on this market segment. In general terms, there is still significantly more demand for beautiful properties in Sausalito than the market has supplied.
Projecting Ahead To Next Month/Quarter
With interest rates rising seemingly month after month, and Thanksgiving & The Holidays on the horizon, Q4 doesn’t project well as the turn of this market.
Instead, given the current trends, Q4 should be viewed by buyers as one of the most opportunistic times to buy property in the past decade. Most seller’s opting to try and sell in this market are doing so out of necessity, and it’s worth remembering that most sellers have seen 50-60% appreciation over the past 5 years which allows for significant wiggle room on final sales price should buyers get the opportunity to negotiate rather than a be in a multiple offer situation.
I anticipate the Fall market to run from October 1st through ~ Thanksgiving, then we’ll see a significant lull in listings on the market, sales volume, etc.
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