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Greetings All,
This month, we’d like to share Compass’s Chief Evangelist Leonard Steinberg’s timely bit of advice to a certain segment of home sellers. Coincidentally we happen to be working with a number of listings now and coming soon, that have been in our clients’ families for 20, 30, 40+ years. The great thing about memories is you get to take them with you to wherever your next home happens to be. Till next month – Stay healthy, safe and sane.
Derek & Natalie, Geneva and Mo Cut The Cord EARLY “Yesterday while meeting potential sellers who have lived in their home for decades, I felt the emotional weight of their decision to sell. This was a home full of wonderful memories and emotions. It was the setting for their full, rich lives, raising kids, building a life together, and aging to a point where the place was too big for their needs. This home which was once a blank canvas was now a fully completed masterpiece……and now they were ready for the next chapter. My best advice to them as they prepared to make this big move was one I have shared successfully with others. It’s called let’s play pretend…..cut the cord NOW……not when you close, NOW. Before you list. Why? When you cut the cord at this point you may be better positioned to eliminate some of the many emotions around certain decisions that need to be made to sell. De-cluttering will become de-cluttering, not eliminating memories and items collected over time with love. Painting to white-out will not be the destruction of your style…..it will be essential preparation to maximize the opportunity for future owners to imagine THEIR lives in this home with less distraction. And so on. When you cut the cord early, it opens the possibility of focusing on the future, the next chapter. It allows you to think, grow and plan this next chapter with enthusiasm rather than regret or agony. It allows you to become focused on your mission: selling your home/asset for the most amount of money for your retirement. This moment happens either way and will be challenging early, or later when you close, so why not start early and let this often painful and difficult process provide you with some real benefit?” |
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Market Reports |
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by Patrick Carlisle, Market Analyst for Compass Bay Area June 2021 After plunging after the pandemic hit, condo, co-op and TIC sales have soared in 2021, now running at the highest monthly numbers in at least 16 years (and probably ever). House sales rebounded after the initial months of the pandemic, but, constrained by a lack of listings, are not seeing the historic spring surge occurring in the condo market. Q4 2020, however, saw the highest quarterly # of house sales since 2006. Click the above image or here for to view the entire report. Tell us what you think! We’d love to hear from you. |
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Team News |
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New Listings | Just Sold | Announcement |
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Team Spotlight |
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ANNOUNCEMENT: Hailing from 3 generations of builders & developers, Mo Salimi, owner of the former Juicy News Inc, on Fillmore/Union, proudly joins the Chin-Rome Team at Compass San Francisco. Fortunate to have lived in such places as New York, Houston Texas & France before settling in Northern California, Mo understands the importance of family & the sense of community. It is this drive to serve & build a community which motivates Mo as a San Francisco Realtor. Having grown up in & around construction sites most his life & having built 3 businesses from ground up, Mo brings in a wealth of experience to his new venture as a licensed Realtor. His “people first” attitude & good natured approach to life along with his fashion & media training at LVMH & Juicy News Inc, uniquely position Mo to utilize his business acumen & networking skills to best serve his clients for years to come. Natalie and I are happy to have him join the team. Welcome, Mo! |
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Did You Know? |
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DID YOU KNOW? Rents for apartments rose 1.3% in April, the fastest pace for a single month in about a decade……after large declines in 2020. Rents for single-family homes jumped 4.3% in March from a year ago. Starting in June 2020, rent growth for detached properties accelerated and by March, grew at 5X the rent growth rate of attached properties….buying now and locking into a low financing rate may be a good hedge against the inflationary pressures on rents…
“The economy’s not going to be wrecked by ruinous inflation, the stock market won’t crash because of government debt. I think we’re more likely to see a soft landing for this sonic-booming economy once the supply chain issues are ironed out and the enhanced unemployment benefits expire in September.” – Jim Cramer |
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News |
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Benchmark Mortgage Rate Back Under 3 Percent
Having inched up to 3.00 percent last week, the average rate for a benchmark 30-year mortgage has since inched back down 5 basis points (0.05 percentage points) to 2.95 percent, which is 20 basis points below its mark at the same time last year, 23 basis points lower than at the beginning of last month, and within 30 basis points of its all-time low, according to Freddie Mac’s Mortgage Market Survey data. |
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One of the largest water districts in the San Francisco Bay Area announced mandatory restrictions Wednesday and declared a water shortage emergency, signaling the seriousness of drought conditions across the region and state after two consecutive dry winters. |
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5 places vaccinated people still need to wear a mask in California after June 15 The California Department of Public Health announced Wednesday that it will align mask guidance with the Centers for Disease Control and Prevention beginning June 15, when the state reopens its economy and drops the color-coded tier system. |
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A Fresh Guide to San Francisco Farmers’ Markets There’s no lovelier time than spring in the Bay Area to shop for fresh produce at our many farmers’ markets—especially on the heels of the pandemic, when we’re all ditching our masks and gulping for fresh air. There’s no lovelier time than spring in the Bay Area to shop for fresh produce at our many farmers’ markets—especially on the heels of the pandemic, when we’re all ditching our masks and gulping for fresh air. |
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Our Virtual Services |
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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!) |
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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. |
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Virtual Property Presentations: Sticking with what we’ve always done, we’ll provide Professional Photography & Videography, including Matterport 3D home tours, and a dedicated property website which includes all of this within the site. |
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Video Creator: We’re able to make quick (10 seconds or less) videos of our listings with essential details to our social feeds. |
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Create a virtual open house experience using standard video from our phone: We can record a Home Tour – more informal than a professional video, we’ll walk the property and show it as we would in a traditional open house, pointing out all of the features, opening closets and cabinets, send to prospective buyers and their agents, and be available for questions. |
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Facetime or Zoom conferencing in the property: As above but on a live feed that is mutually scheduled with prospective buyers and their agents. Offers a personal experience and 1:1 questions are answered. |
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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. |
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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. |
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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. |
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WE are here for YOU |
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A Nationwide Network |
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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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Connect With Us |
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Please let us know if you or a friend/colleague needs a fantastic agent in an area other than San Francisco. Through our network we can make the connections and introductions and help to find a perfect fit. If you like what you have received, we encourage you to share it with your friends and follow us on Facebook & Instagram. |
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