Greetings, All:
We hope your Summer is moving right along at a comfortable, relaxed pace…it just seems like it should, doesn’t it? Whether traveling by train, plane or automobile, or just enjoying a staycation, may you take some good mental photographs for your memory book.
The real estate market has been a bit topsy-turvy so far this year. Anecdotally, we’ve experienced some properties enjoying multiple offers and higher-than-listing-price numbers, and also quieter-than-expected periods of activity. It is so “property-specific”, it’s difficult to make generalized statements about where we are and how the interest rates, recession and job market has impacted our local market. As always, please feel free to consult with us about your specific needs and questions.
In recent weeks, I’ve been exposed to rampant negativity. Which likely means I’ve been spending too much time on social media, lol. Celebrations of Juneteenth and Gay Pride are counterbalanced by loud, and quite honestly alarmingly offensive opposing views. Instead of becoming mired in the depressing state of online discourse, I’m compelled to do a turnabout. Because if it’s true that you “get more of what you focus on” (What kind of lens do you view the world around you with?), then I’d prefer to think more along the lines of love and acceptance; and applying these notions to individuals regardless of race, sex, origin, religion and life preferences.
Love and acceptance, two fundamental aspects of human relationships that have the power to transform lives and create profound connections. Love, in its purest form, transcends boundaries and brings people together, fostering a sense of belonging and unity. It’s a force that can bridge differences, dissolve prejudice, and inspire compassion. Love teaches us to see the beauty in others, to embrace their flaws and imperfections, and to appreciate their unique qualities that make them who they are. It’s a nurturing and selfless emotion that seeks to uplift, support, and understand.
Acceptance is the natural companion of love, as it entails embracing others for who they truly are, without judgment or the need for them to change. It’s an acknowledgment that every individual is deserving of respect, dignity, and the freedom to express themselves authentically. Acceptance does not require conformity but rather celebrates diversity and recognizes the inherent worth of every human being. It allows us to create spaces of inclusion where individuals feel safe and valued, enabling them to thrive and reach their full potential. Society’s issues with mental illness, drug addiction and crime can also be dealt with compassionately, with proper guidance to turn towards positive results, and not equal to being permissive or sanctioning.
Together, love and acceptance form a powerful bond that can heal wounds, mend broken relationships, and build strong communities. When we choose to love and accept others unconditionally, we create an environment of trust and openness, fostering emotional intimacy and deepening our connections. Love and acceptance ripple outwards, positively impacting not only individuals but also society as a whole. They have the ability to transcend differences, break down barriers, and promote harmony and understanding among people from diverse backgrounds. By embracing love and acceptance, we contribute to a world that is more compassionate, empathetic, and united.
It’s a world I want to live in.
Derek, Natalie, Mo & Arwin
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by Patrick Carlisle, Market Analyst for Compass Bay Area July 2023
Underlying market and economic dynamics in 2023 have been a mixed bag of often contrary and volatile factors — including downward-trending inflation; interest rate bouncing between 6% and 7%; unceasing uncertainty regarding what the Fed will do next; substantial rebounds in stock markets; bank, commercial real estate, and debt-default crises; international political, economic and military conflicts; high-tech layoffs amid generally strong employment statistics; and recovery in buyer demand, sales activity, and home prices, but all 3 remainings significantly lower than the peak of the market in spring 2022.
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New Listings | Just Sold | Announcement
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For over 2 decades, the name Julie Jay has become synonymous with luxury design and style in the Bay Area. Her love of architecture, and a keen eye for creating beautiful, unique, and one-of-a-kind interiors is unsurpassed. As one of the leading designers in the San Francisco Home Staging industry, Julie was at the forefront of cutting-edge design and renovation. Her company, Julie Jay Staging, renovated and staged homes and helped thousands of clients get top dollar for their single largest investment — their home.
After 25 years in the design business, Julie is now laser-focused on Design Consultations and Art Curation. Helping clients navigate the daunting world of remodeling and interior design with one-on-one design consultations. She is solely dedicated to partnering with you in any and every aspect of making your home your sanctuary. Contact Julie for additional information at juliemjay@gmail.com or 415-845-6033.
We’ve had the pleasure of introducing Julie to numerous clients, who have all raved about her personality, work, and vision. When we refer Julie out, we have little doubt our clients will enjoy working with her as we have.
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* The ‘traveling mortgage’ Yup. Denmark has a unique mortgage concept worthy of our consideration: if you have a 1 million Danish Kroner mortgage at 2%, but interest rates go up to 4% and you want to move to a home of equal value, you can buy back your mortgage from the bond investor who owns it.
And because your mortgage carries an interest rate lower than the going rate, it’s worth less than it was when you got it. If you borrowed kr.1 million, you can now buy your mortgage back for just kr.850,000, pocketing a kr.150,000 gain. The bank will give you a new mortgage, for the kr. 850,000 you need to pay off the old mortgage, at the current 4% interest rate. The math works out perfectly such that your new mortgage is for a smaller amount, but at a higher rate, and it’s in every respect the same as if you had taken your mortgage with you. This article from Aziz Sundeji is an essential read!
* Noisy Window Air-conditioning? Not anymore! Midea makes a window unit that places the noisy part outside! Roughly 20% of homes with AC still use window units, and $2.2 billion of room air conditioners were sold in 2022. The variable-speed inverter compressor uses less energy, which means you can keep it cranking without having to worry about utility bills. You can also open your window for unconditioned fresh air, rather than bolting it down to a giant box during installation. (WSJ)
* The S&P Core Logic Case-Shiller National Home Price Index, which measures home prices across the nation, fell 0.2% in April, compared with a 0.7% annual growth rate the prior month. Prices are now just 2.4% below their June 2022 peak…..which would imply DEFLATION. The Case-Shiller index, which measures repeat-sales data, reports on a two-month delay and reflects a three-month moving average. Homes usually go under contract a month or two before they close, so the April data is based on purchase decisions made early this year or late last year. Important to note how we are almost inJuly and the FED is looking at data from APRIL! Meanwhile, sales of newly built single family-homes were at a seasonally adjusted rate of 763,000 during May 2023 — 20% higher than the levels seen in May 2022, according to data from the US Census Bureau. (CNBC)
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Since refined by SCB for the Solbach Property Group as newly rendered above and below, the proposed 47-story tower would now reach a height of 517 feet, with 520 residential units, a mix of 122 studios, 187 one-bedrooms, 206 twos, and 5 threes, over 3,270 square feet of ground floor retail space and underground parking for 130 cars, leveraging a State Density Bonus for the height, density and mass as proposed, in exchange for which 87 of the units would need to be offered at below market rates.
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The plant, nicknamed Scarlet the Corpse Flower, bloomed for the first time in 2019 at seven to 10 years of age, according to the garden’s Instagram. The flower only blooms every three to five years as it matures and Scarlet’s blooming will only last approximately 48 hours.
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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.
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© Compass 2023 ¦ 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.
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