Greetings, all:
A week past the Labor Day weekend holiday, we’ve noticed an uptick in activity in the local real estate market. Natalie and I have started going out on Tuesday Brokers Tour again, after what feels like an extended summer. By June of this year, we noticed fewer properties on the market, fewer buyers out looking, and even fewer agents in town, as folks seem to get the travel bug all at once. If you’re active on social media like I am, I can’t recall seeing so many photos of people I knew visiting Europe, Asia, and other exotic locations. The long lines at the airports seemed to deter few. Was the slower market due to the rise in interest rates, or a return to a more traditional summer?
It does feel that while we’re aware Covid will be with us for some time, there’s more of a return to “normalcy”. Popular restaurants are bustling, foot traffic has increased in traditional retail areas, and my family and I even attended a sold-out presentation of Alfred Hitchcock’s VERTIGO at the Castro theater last week.
In the face of “Labor Day”, during which we honor work by “not working”, my thoughts turned to the traditional environment in which I was raised contrasted with a work ethic I and others have noticed during the past decade, exacerbated perhaps by the forced slowdown/shutdown due to the pandemic.
We now have a new term called “quiet quitting”, wherein employees do the bare minimum to keep their jobs. It seems quite out of step with the glorification of long hours and hustle that followed motivational speaker Zig Ziglar’s advice “When you do more than you’re paid for eventually you will get paid for more than you do” that I subscribed to coming out of college. We’re supposed to find something we love and wear ourselves down doing it.
Here’s where I do a 180. Or maybe a 90.
As with many things in life, BALANCE is key. Yet because of conditioning, I can scarcely take time off without feeling guilty or FOMO. I haven’t gone on vacation since before the pandemic. However, during those first few months from March 2020, while we sheltered in place, I was finally able to slow my day down. The world had stopped. No one was going to get “ahead of” me and leave me behind. I got to relax and enjoy the freedom for intellectual or creative pursuits. It was learning and studying and the pursuit of higher things. After all, who knew when things would get back to normal?
It wasn’t long before we figured out how to get back to work, and check off tasks completed, meetings attended, emails returned, and conference calls joined. Nothing, it seems, is harder for the busy person to do than to slow down.
Doing something you love doing makes work less stressful, but even in doing that, we need to have moderation. We have to know how to do nothing. We have to be able to be disciplined about our discipline. We have to know when it’s time to take a break. We have to slow down. Those who cannot are not the best. Because they have no tranquility, no perspective, and no self-control.
I’d like to remember this and make it part of my day, my week. And to slow down with intent without a pandemic forcing me to. Maybe the “quiet quitters” will meet me in the middle.
Till next month, stay healthy and happy,
Derek, Natalie, Mo & Arwin
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by Patrick Carlisle, Market Analyst for Compass Bay Area
As of early September, interest rates have increased again and stock markets declined once more: They continue to see substantial short-term volatility and it remains difficult to confidently predict their future movements and effects on real estate markets. The next major indicator of buyer and seller psychology and market dynamics will be what occurs during the next 2 months of the autumn selling season, prior to the mid-November to mid-January holiday slowdown, typically the slowest market of the year.
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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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You think your career is about what you do, but it’s mostly about who you do it with.
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* Across the US, 21% of home sellers dropped their asking
prices in July – the highest share since tracking in 2012. The
shares of homes with price drops in July compared to one year
ago increased in 94 of 97 metro areas surveyed. Overheated
markets such as Denver saw 58% of listed homes experience
price drops, and Salt Lake City saw a 54.8% share of cuts.
Other metro areas with a share of home price cuts above 50%
included Tacoma, Wash.; Tampa, Fla.; Sacramento, Calif.;
Indianapolis, and Phoenix. Let’s also not forget some of these
ASKING prices had assumed 5-20% escalations over the last
selling price in the area…..much of this is simply the scaling
back of excess pricing ambition/exuberance.
* The average rate on a 30-year fixed mortgage is 5.90% with an APR of 5.91%. TheThe
15-year fixed mortgage has an average rate of 5.12% with an APR of 5.14%. On a 30-
year jumbo mortgage, the average rate is 5.91% with an APR of 5.91%. The average
rate on a 5/1 ARM is 4.40% with an APR of 6.07%. (FORBES)
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Prominent Cultural District Site in the Mission Has Sold
As we first revealed earlier this year, the single-story House of Brakes building/garage on the southeast corner of 24th Street and South Van Ness, a rather nondescript concrete structure above which the iconic Carnaval (a.k.a. Golden Dreams of the Mission) mural was painted and subsequently restored on the building behind, was on the market with a $1.65 million price tag.
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Why Deli Board, one of San Francisco’s best sandwich shops, won’t expand
There are many titles Adam Mesnick has given himself over the years — a saucier, a sandwich expert, a food nerd — but the moniker he fancies most is “Chairman of the Board.” It’s a name he doesn’t take lightly either, considering he’s the owner of Deli Board, one of San Francisco’s most eminent sandwich shops.
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When I begin talking to Dr. Christopher Colwell, the chief of emergency medicine at San Francisco General Hospital, I thanked him for chatting with me about heat safety. This subject will inevitably become more salient as the summer progresses.
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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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