Milestones. October is a HUGE milestone month for us.
15 years as a team – Oh my goodness, how time does scurry by. Seventeen years ago, I was in search of a new business partner after my biz partner of 11 years retired. Great sales teams aren’t created every day. And there’s no Match.com for real estate partners (Hey, brainstorm!). As luck would have it, the stars aligned and Natalie and I became the next, great real estate team known to US. 15 years into it, we feel more invested in the partnership than ever and are committed to keep learning how we can do our jobs better. “Control freaks” we, we’ve been very pleased and fortunate to have brought on Team Member Mo Salimi and our own Director of Marketing & Operations Arwin Barrongo to help us juggle the balls.
Mo has done exceedingly well his first year in the business and judging from his work ethic and smarts, he’ll continue to do so. Arwin is worth his weight in gold. Or maybe pizza.
And Compass? What of this upstart 10-year-old firm that seems to get more than its share of “noise” by certain news outlets (often sponsored by our competition)? While some of our critics are working harder than ever to generate clicks on their websites with flashy headlines, we stay focused on what matters: helping you and our clients. What Compass achieved over the past 10 years is historic by any standard.
Our company leaders spent the last decade creating the future of real estate by empowering the best real estate agents with world-class agent support and the most powerful technology and services platform ever created.
Every time you see a headline that says “Compass lost $X” we want you to realize two things. First, that number is not all cash. It includes non-cash expenses like stock-based compensation. Second, the investments Compass made over the last decade enabled us to build the foundational technology needed for our platform and helped us to become the #1 brokerage in the country. Does it really matter to us or to you that we’re the #1 brokerage in the country? Not really. But it does perhaps indicate that the company’s singular vision and nimble moves that led us to that position will keep us there after the smoke has cleared. What won’t change, recession or not –
“Our mission is to help everyone find their place in the world.”
There’s no question Natalie and I love what we do. This career choice has provided a few challenges, but more rewards, good feelings, and impactful outcomes than we could have imagined in our collective 50+ years. Some years ago (haha), a freshly minted college graduate, I set out to serve clients, indulge my interest in architecture and interior design, sell lots of homes and build a living for myself. Flashing forward to October 2022, other than the greying hair, it’s true the more things change, the more they stay the same.
“Coming together is a beginning; keeping together is progress; working together is success.” ~ Henry Ford
Till next month, Stay Happy and Healthy! Derek, Natalie, Mo & Arwin
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by Patrick Carlisle, Market Analyst for Compass Bay Area
Virtually across the Bay Area, Q3 median sales prices retreated drastically from their spring peaks, and SF was hit harder than most area markets. Part of this was due to seasonal trends — median sales prices often peak for the calendar year in Q2, then drop in summer — but part of the decline was clearly due to changing market conditions prompted by shifts in interest rates, inflation, stock markets, and consumer confidence. In this report, home prices will be reviewed from a variety of angles to provide greater context. On the supply and demand side, it appears that after the big drop in demand in early-mid summer, conditions have mostly stabilized: Generally speaking, sales numbers are no longer appreciably dropping, though overbidding statistics continue to decline and days on the market to climb.
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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.
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New Listings | Just Sold | Announcement
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Welcome home to Miraloma Park, Bryan, Maria, and Alexi! Bryan and Maria came to us from a repeat client referral, and Bryan’s brother, Dave (Special thanks, Dave!!). They were working with another agent but just didn’t feel supported in the ways they needed. We jumped in right away and assisted them in making an offer and within a day, we were in contract. They recently closed and are now San Francisco single-family homeowners!
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Thanks to all who came and participated in our Client Photo Pary 2022! We had so much fun connecting with you all. The Taco Truck was a big hit and each group/family now has several photos to choose from and enjoy. Thanks to Monica May Design for her wonderful photography and the way she puts all the “jitterbug-shutterbugs” at ease. Even the little ones. We missed those of you who couldn’t join us.
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* Some good news? It appears the massive supply-chain issues we experienced earlier this year with massive delays at the ports are coming to an end: Only 8 ships remain offshore in Los Angeles ports waiting to be off-loaded …..in January 2022, it was 122!….the COVID supply chain mess is largely over. (BLOOMBERG)
* These are the 10 wealthiest cities in the world – and how many high-net-worth individuals live in each of them – according to Henley & Partners’ report.
1. New York, U.S. (345,600)
2. Tokyo, Japan (304,900)
3. San Francisco Bay Area, U.S. (276,400)
4. London, United Kingdom (272,400)
5. Singapore, Singapore (249,800)
6. Los Angeles, U.S. (192,400)
7. Chicago, U.S. (160,100)
8. Houston, U.S. (132,600)
9. Beijing, China (131,500)
10. Shanghai, China (130,100)
New York has seen a 12% drop in high-net-worth individuals in 2022, London 9%, Los Angeles 6%, and Chicago’s fell by 4%. Houston also has been one of the fastest growing millionaire populations with an increase of 6% so far in 2022. Austin, Miami, West Palm Beach and Greenwich has also seen a major year-to-date increase in high-net-worth individuals.
Florida is seeing huge gains, mostly from the retired wealthy. Globally, Riyadh in Saudi Arabia, Sharjah, and Dubai in the United Arab Emirates, Lusaka in Zambia and Luanda in Angola saw the biggest gains.
* Target – for the first time in years? – is starting big discounts inOCTOBER weeks prior to the Christmas shopping season and will have a price-match guarantee if you can beat the price…..a clear indicator they are overstocked….and potential DEflationary pressures. (CNBC)
* Most home solar panel installations will not provide a home with any power during an outage as most solar panels are connected to the grid. When the power goes down, so too do homes with solar panels. Stored power in batteries is the key to power self-sufficiency in an outage. (BARRONS)
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San Francisco’s Housing Pipeline Hits a New High
The total number of units in San Francisco’s housing pipeline, including affordable units that are slated to be rebuilt, hit a record high of over 80,000 in the first quarter of this year, according to our queries of Planning’s databases as mapped and distributed above.
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Stephen Curry’s bright-colored “Sour Patch” sneakers squeaked loudly announcing his media day arrival. He then took his spot, tucked in that iconic No. 30 jersey, and posed with all of his championship hardware.
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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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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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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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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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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 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.
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