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What About the Local Housing Market?

March 9, 2020

Hi friends,

Coronavirus, stock market, San Francisco real estate...

We all have much on our minds, so I’ll keep this brief.

Would it be wrong to assume that you are feeling uncertainty and confusion right now?

Predicting the future is above my pay grade.

However, this is not my first time navigating turbulent real estate waters. No matter what, a home sale comes with anxiety and uncertainty. Your home is often (one of) your biggest assets, especially in San Francisco. The stakes are high. There are many ways a real estate deal can go sideways.

So what can I offer in these jittery times?

Here are a few observations on the San Francisco real estate market in the day of COVID-19:

  • So far, the sales prices of our listings over the past two weeks have met or exceeded client expectations.
  • This past weekend, open houses were well-attended and busy with active buyers.
  • If you have a legitimate reason to buy or sell, your motivation has not changed.
  • We have short term memories. A bigger effect, if any, will depend on whether the situation gets much worse or starts to peter out. It will depend on whether confidence and optimism prevail or the reverse.

I don’t know if the situation will get better or worse. Based on my experience navigating SF real estate during the Great Recession, there is always opportunity for both Buyers and Sellers in San Francisco. The turbulent stock market has driven mortgage rates to their all-time low. You may need to adjust, but opportunity is out there.

Warmly,

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View Full Street Address SAN FRANCISCO, CA 94114 (415) 528-7355 ©2020 VIVRE REAL ESTATE. ALL MATERIAL PRESENTED HEREIN IS INTENDED FOR INFORMATION PURPOSES ONLY. WHILE THIS INFORMATION IS BELIEVED TO BE CORRECT, IT IS REPRESENTED SUBJECT TO ERRORS, OMISSIONS, CHANGES, OR WITHDRAWAL WITHOUT NOTICE. ALL PROPERTY INFORMATION, INCLUDING, BUT NOT LIMITED TO SQUARE FOOTAGE, ROOM COUNT, NUMBER OF BEDROOMS, AND THE SCHOOL DISTRICT IN PROPERTY LISTINGS SHOULD BE VERIFIED BY YOUR OWN ATTORNEY, ARCHITECT, OR ZONING EXPERT. IF YOUR PROPERTY IS CURRENTLY LISTED WITH ANOTHER REAL ESTATE BROKER, PLEASE DISREGARD THIS OFFER. IT IS NOT OUR INTENTION TO SOLICIT THE OFFERINGS OF OTHER REAL ESTATE BROKERS. WE COOPERATE WITH THEM FULLY. EQUAL HOUSING OPPORTUNITY. ALL INFORMATION DEEMED RELIABLE BUT NOT GUARANTEED AND SHOULD BE INDEPENDENTLY REVIEWED AND VERIFIED.
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