Hello Friends!
I hope this email finds you well and you are enjoy the crisp, fall morning! It is officially sweater weather and the quintessential day for going on a fall foliage hike or visiting a pumpkin patch. But before you do, grab your pumpkin spice latte and read below for the latest market data and city scoop.
|
October is off to a strong start with a surge of housing inventory on the market. In fact, there was more inventory on the market in SF at the end of September than at any other point this year. This bodes well for a strong October market which will likely be the top month for SF home sales this year.
In Q3, the SF median home sales price was down ~6.5% relative to Q3 2022, and the median condo price was down ~4%.
However, given that real estate prices have climbed off of last year's lows, we expect these year-over-year price declines to vanish in the coming months.
Relatedly, there is optimism is in the air — a few weeks ago the California Association of Realtors (CAR) forecasted that the “California housing market will rebound in 2024,” predicting that single-family home sales will increase by ~23%, and the California median home price would climb by 6.2% next year.
Click below to view the full October report.
|
The billion $ question on everybody’s mind right now is should I buy now even though rates are high, or should I wait and buy when rates come down?
The answer is simple. Buying based on rates is the short-term view. You are missing the forest through the trees.
Here is a simple analysis that answers this fundamental question.
|
As you can see, even with projecting lower interest rates, the equity/appreciation over time far outweighs any savings from the lower rate. Using very conservative home appreciation numbers over a 3-year period, the data clearly confirms that the benefits of home ownership lie in the equity you make over time. This is called WEALTH BUILDING.
You snooze.. You lose. Whenever someone asks me, “When is the right time to buy a house?”, the answer is always the same – “You should have bought a home 5 years ago”. You can definitely wait and buy next year when rates will drop, as long as you are willing to pay more for that same home. Your home is like a stock, the value is realized over time. So, my question to you is..
WHAT ARE YOU WAITING FOR?
Please feel free to email me if you need a custom cost of waiting analysis to help you make an educated decision.
|
|
|
Pacita Abad- SFMOMA
Experience vibrant works by a daring artist who traveled the world in the first retrospect of Pacita Abad, featuring more than 40 daring trapuntos paintings.
|
The restaurateur behind Ju-Ni and hip Handroll Project just debuted a casual yet chic Italian restaurant on the westside.
The Italian restaurant is aimed at creating a community-forward dining experience. It's a place where families could eat a lot, dine slowly to enjoy each other’s company, and where diners will leave full and pampered with great hospitality.
|
|
|
|
Sunday, Oct 29th,
1 to 4 PM
Judah to Taraval
Great Highway Park
Trick or Treat at the Beach! Enjoy a safe, car-free Halloween experience at The Great Highway Park.
Activities include:
trick or treating, arts & crafts, big bubbles & pumpkin decorating. The Hauntway will appear on the Upper Great Highway between Judah and Taraval. You might even see me passing out candy 👻
|
John Derian, the renowned NYC designer has once again teamed up with Target, for a new Thanksgiving-themed collection. These memorable pieces include everything you need to set the table, plus inspiring accents like candles, pillows and more.
|
|
184 Santa Rosa Avenue- Buyer Represented
2 Bed + bonus room | 1.5 Bath
|
|
*Seek advice and counsel of a medical professional and/or officials prior to going outdoors or any items mentioned in the above.
|
|
© 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.
marketingcenter-- |
|
|
