Greetings, All:
We were recently wowed by a fantastic bathroom remodel that our clients just finished in a Pacific Heights view condo we sold them late last year. (When clients are interested in getting design help, we often refer them to former stager, design consultant Julie Jay.)
I was taken by how stylish yet timeless the design choices were. Selling homes since the mid-80s, I’ve witnessed scores of renovations, some questionable, some magnificent, most of them representative of the design trends of the day.
When I say, “1980s-style kitchen”, do you visualize white ceramic tile countertops and backsplashes? Particle board or yellow oak cabinets? Granite counters were the rage in the early 2000s, as were stainless steel appliances. Ten years from now, we’ll assume correctly that the bronze or black bath fixtures, quartz countertops and rainfall shower heads were part of a 2020’s upgrade. In 2022, wallpaper has returned, and Sputnik-style ceiling light fixtures are in favor.
With larger remodel projects, it might be penny-wise to consider along with what works for you, your home’s future “resale value”. Purple concrete fireplace surrounds may be rare and cost a bundle to install, but my educated guess is that few future homebuyers will be as enamored of them as the owners that put them in. That’s not to say we should take the fun out of customizing our homes to fit our tastes, but unless it’s our “forever home”, as long as the plumbing, floors and hardscape isn’t too specific, it won’t affect resale negatively. Items that would require an extensive renovation or demolition to remove that are pretty specific could be problematic.
Yesterday’s cherry inlay golden tone hardwood floors are today’s wide-plank white oak floors. Tomorrow?
Till next month, stay healthy and happy,
Derek, Natalie, Mo & Arwin
PS: The hot topic of the month is where the real estate market is heading. Stay tuned – we’ll certainly keep you up to date!
|
by Patrick Carlisle, Market Analyst for Compass Bay Area
An overheated market cooling or normalizing, slowing from an unsustainable rate of acceleration, does not necessarily imply a weak market by historical standards, even if the speed and scale of the change are startling. This report will review year-over-year changes in supply and demand, reflecting the significant adjustments occurring, but also longer-term trends to provide greater context to these recent changes.
|
It is now easier than ever for us to locate, vet, interview, and connect you with an extraordinary agent (for you, your friends, family, or colleagues) across the country. Just ask! Click the image below for more details. It is now easier than ever for us to locate, vet, interview, and connect you with an extraordinary agent (for you, your friends, family, or colleagues) across the country. Just ask! Click the image below for more details.
|
New Listings | Just Sold | Announcement
|
Shopping for a home in San Francisco is so easy. Said no one… Well, it absolutely can be. What if the Condo right above you came on the market while you were vacationing in Lake Tahoe & you rushed home on a Sunday evening & attended the last 15 minutes of its open house & what if from that fateful Sunday to next Monday you were literally in contract in 7 days?
Meet Grace Hunt, the proud Russian Hill first-time home buyer who proceeded to execute the mission impossible: From meet & greet to happily in contract, in 1 week. Grace is the ideal first-time home buyer, sweet, efficient & affable.
As they say, time is of the essence & so even the escrow process flew by gracefully.
|
* Would efforts focused on fixing the supply chain be more effective than raising rates? Some believe that solving the supply chain and war issues will have a far greater impact on reducing inflation in a supply-demand world and economy….
(CNBC)
* Many buyers who for the past months approached a listing almost certain they would have to bid over the asking price, may now not encounter as much competition (and/or a seller/agent with a less aggressive asking price)……combined, these two factors may offset what might have been a higher selling price to offset higher borrowing costs. Remember, if a home price has risen 20% in the past year, a 10% price reduction erodes 12% of that 20% gain.
* While the S&P 500 capped its worst first half since 1970 (when it lost 21%,) down over 20% off its highs, let's be reminded that it is still 12% higher than in January 2020…..
(CNBC)
|
|
|
Number of Homes for Sale in San Francisco Drops, But…
Driven by a typical slowdown in new listing activity prior to a holiday weekend, the net number of homes on the market in San Francisco (a.k.a “inventory”) dropped 10 percent over the past week and currently totals 1,200.
|
|
|
Another San Francisco office tower hit the commercial real estate market this week, this time from legacy business Wells Fargo, as first reported in the San Francisco Business Times.
|
Aiming to prove that middle-aged dogs can learn new tricks, here’s a quick look at how we’ve adjusted to our current landscape for our selling clients. (Woof!)
|
Visualizing your Upgrade:
Curious to know how Compass can transform a listing and improve its sale price?
Compass Lens uses Artificial Intelligence (AI) to visualize the potential of your space! See exactly the difference working with us can make.
|
|
|
|
Dynamic Digital Brochures:
Home features will come to life inside this dynamic, digital brochure while creating an immersive experience for even the most discerning of buyers. Pages will turn and videos will play while allowing us to capture real-time data and actionable insights from potential buyers.
|
Video Creator:
We’re able to make quick (10 seconds or less) videos of our listings with essential details to our social feeds.
|
|
|
|
Mobile Listing Ads:
We’ll run geo-targeted mobile ad campaigns to reach buyers in the right place, at the right time. Now more than ever, buyers and sellers are spending most (if not all) of their time at home. We’ll create a geofence around the neighborhoods where you’d like your ads to be seen. These ads will appear in mobile apps and will re-target viewers on their desktops and laptops.
|
All of this is designed to bring proper exposure to our wonderful listings, and encourage eager buyers to make safe, virtual visits before making safe, in-person visits.
|
Since Compass launched in 2012, we’ve been simplifying the real estate process one community at a time. Today, we have more than 250+ offices extending from coast to coast.
|
|
© Compass 2022 ¦ All Rights Reserved by Compass ¦ Made in NYC
Compass is a real estate broker licensed by the State of California operating under multiple entities. License Numbers 01991628, 1527235, 1527365, 1356742, 1443761, 1997075, 1935359, 1961027, 1842987, 1869607, 1866771, 1527205, 1079009, 1272467. All material presented herein is intended for informational purposes only and is compiled from sources deemed reliable but has not been verified. Changes in price, condition, sale or withdrawal may be made without notice. No statement is made as to accuracy of any description. All measurements and square footage are approximate. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
|
|
|
