November 2022 Newsletter
The SF Market Update
Greetings! Across the Bay Area, thousands of homes continue to be sold – a significant, but declining proportion still selling quickly over list price – with the general trend of cooling demand, less competition, and declining number of sales. After years of conclusively holding the balance of power, sellers have reacted to the changing circumstances in different ways: price reductions, withdrawing from market to wait til 2023, or renting. The economy and housing market remain in a period of adjustment, causing many people to be more cautious as they wait to see how things will settle.
Date the Rate. Marry the House
As interest rates have risen, many buyers have moved to the sidelines. My advice is to buy a home you love even if the interest rate is higher than you’d like. Now is an excellent time to buy, with buyers having more negotiating power than they’ve had in a long time. Then, when rates come down- refi in a year or 3!
Remember- marry the house! Rates quoted below are for conforming loans with local rates remaining lower.
Click one of these charts for more real estate charts & trends.
Fun Local Events!
DATE: Now Through Jan 16, 2023
EVENT: Holiday Ice Rink
LOCATION: Union Square
The Safeway Holiday Ice Rink is celebrating its 15th anniversary in the unforgettable, picturesque location of bustling Union Square. All tickets must be purchased in advance. For more information and to purchase tickets, click the photo
DATE: Ongoing
EVENT: Skate San FranDisco
LOCATION: 150 Larkin St
Let’s roll! The San FranDISCO Fulton Plaza Roller Rink is a new, one-of-a-kind rink in the heart of the city! Featuring a roof and roller rink flooring, all ages will find the rink a fun, dance party atmosphere for the 90-minute skate sessions. And with an affordable price point, this rink is for everyone, from the young (17 and under $5) to the young-at-heart ($15 adults)! For more information, click the photo.
Eye on: Rain
With the rainy season upon us, keeping your home water proof is critical. After the next big rain, walk around your house looking at ceilings, window trim, thresholds, and go in the attic crawl space. Outside, confirm drains and gutters are working properly on your lot and sidewalk/driveway. Nothing tests your home better than sideways rain!
What Else Am I Focusing On?
Reading: Screenwise, Helping Kids Thrive in Their Digital World
Eating: White Chicken Chili
Struggling With: Getting back into running
Contemplating: Getting another dog
Loving: Social events a la 2019)
Planning: Fun holiday adventures
My Recently Sold Properties
521 Magellan Ave
Forest Hill – 2 Bed | 1 Bath
Represented Sellers
218 Marietta Drive
Miraloma Park – 3 Bed | 2 Bath
Represented Buyers
2058 12th Avenue
Golden Gate Heights – 4 Bed | 4 Bath
Represented Seller
1885 Vallejo Street, Unit 5
Pacific Heights – 1 Bed | 1 Bath
Represented Buyer
With over 17 years of real estate experience, I am here to help. Whether that’s here in the Bay Area or leveraging Compass’ national presence clear across the country, I would love to give you a hand.
Let’s talk!
SAN FRANCISCO REALTOR DISTRICTS
San Francisco Realtor 1: Sea Cliff, Lake Street, Richmond (Inner, Central, Outer), Jordan Park/Laurel Heights, Lone Mountain
San Francisco Realtor 2: Sunset & Parkside (Inner, Central, Outer), Golden Gate Heights
San Francisco Realtor 3: Lake Shore, Lakeside, Merced Manor, Merced Heights, Ingleside, Ingleside Heights, Oceanview
San Francisco Realtor 4: St. Francis Wood, Forest Hill, West Portal, Forest Knolls, Diamond Heights, Midtown Terrace, Miraloma Park, Sunnyside, Balboa Terrace, Ingleside Terrace, Mt. Davidson Manor, Sherwood Forest, Monterey Heights, Westwood Highlands
San Francisco Realtor 5: Noe Valley, Eureka Valley (Castro, Liberty Hill), Cole Valley, Glen Park, Corona Heights, Clarendon Heights, Ashbury Heights, Buena Vista Park, Haight Ashbury, Duboce Triangle, Twin Peaks, Mission Dolores, Parnassus Heights, Dolores Heights
San Francisco Realtor 6: Hayes Valley, North of Panhandle (NOPA), Alamo Square, Western Addition, Anza Vista, Lower Pacific Heights
San Francisco Realtor 7: Pacific Heights, Presidio Heights, Cow Hollow, Marina
San Francisco Realtor 8: Russian Hill, Nob Hill, Telegraph Hill, North Beach, Financial San Francisco Realtor, North Waterfront, Downtown, Van Ness/ Civic Center, Tenderloin
San Francisco Realtor 9: South of Market (SoMa), South Beach, Mission Bay, Potrero Hill, Dogpatch, Central Waterfront, Bernal Heights, Inner Mission, Yerba Buena
San Francisco Realtor 10: Bayview, Bayview Heights, Excelsior, Portola, Visitacion Valley, Silver Terrace, Mission Terrace, Crocker Amazon, Outer Mission , Hunters Point, Candlestick Point, Little Hollywood
It is impossible to know how median and average value statistics apply to any particular home without a specific comparative market analysis.
These analyses were made in good faith with data from sources deemed reliable, but may contain errors and are subject to revision. It is not our intent to convince you of a particular position, but to attempt to provide straightforward data and analysis, so you can make your own informed decisions. Median and average statistics are enormous generalities: There are hundreds of different markets in San Francisco and the Bay Area, each with its own unique dynamics. Median prices and average dollar per square foot values can be and often are affected by other factors besides changes in fair market value. Longer term trends are much more meaningful than short-term.
Compass is a real estate broker licensed by the State of California, DRE 01527235. Equal Housing Opportunity. This report has been prepared solely for information purposes. The information herein is based on or derived from information generally available to the public and/or from sources believed to be reliable. No representation or warranty can be given with respect to the accuracy or completeness of the information. Compass disclaims any and all liability relating to this report, including without limitation any express or implied representations or warranties for statements contained in, and omissions from, the report. Nothing contained herein is intended to be or should be read as any regulatory, legal, tax, accounting or other advice and Compass does not provide such advice. All opinions are subject to change without notice. Compass makes no representation regarding the accuracy of any statements regarding any references to the laws, statutes or regulations of any state are those of the author(s). Past performance is no guarantee of future results.
