- New Habit ~ Productivity Hack
- Deal Story #1: The Winning Bid
- The Inside Scoop on the Real Estate Market
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New Habits and Productivity Hacks
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Oh Hi!
I received so many positive comments from so many of you from my last newsletter, and for that I am so grateful! But, I've got be honest, I've been feeling the pressure to perform again!
And then it occurred to me to share what I am working on - on myself, that is.
So, here it is! I've been working on creating new habits - habits that will help me achieve my dreams.
Dreams that include buying a glorious old Victorian in this amazing city where Matt and I can host amazing dinner parties and playdates, traveling around the world wherever and whenever, sharing growth-inspiring adventures with our family, and so much more.
Now, I can't even begin to tell you how many times I have heard in the past about the importance of new habits. As many times as I heard it, the idea of creating new habits just didn't stick. But, you know, it always comes to down to who says it and when.
This year I am ready, and between Matt, my coach, and taking a MindValley class from Robin Sharma, I finally got it.
Over the last several weeks I started journaling in the morning. But my journaling has become far more intentional than it ever was.
I start with writing down my Five Wins that I want to achieve for the day, 10 Blessings for which I am grateful, Thoughts and Lessons Learned from the previous day, and finally whatever new habit I am working on creating.
What is so interesting is that the Five Wins have turned into my daily to-do list that has become fun. Yes, you heard it - a FUN TO-DO list. My To-Do List of the past was full of too many "Important but Not Urgent Things" that, for whatever reason, I was not inspired to do. Now that I have turned the lingo around, my Five Wins are something I not only am striving for, but makes me excited. And thanks to my coach, she has helped make those Five Wins even more purposeful by suggesting I include in my journaling how these wins help me achieve my goals and dreams.
And the best part of this new habit, especially the Five Wins, is that everyday is now full of these mini-wins that lead me to feeling so much more fulfilled about my days. And so, I invite you to join in transforming your daily To-Do lists into Five Wins that will inspire you to achieve your goals and dreams!
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Deal Story #1:
The Winning Bid
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Well, just like that [fingers snap], it appears that the San Francisco Real Estate Market has taken a turn again. More condos and TICs have rejoined the buying frenzy that single family homes have been enjoying throughout the pandemic. It's feeling a bit pre-pandemic.
So, I thought it might be a nice time to chat about how to win a bid in a crazy and fun market like this.
Earlier this year I was working with a client who was interested in purchasing a single family home in West Portal. For those not in the know, West Portal is a super cute neighborhood full of single family homes close to transportation and the sweetest retail corridor. Needless to say, when homes come on the market in this neighborhood they go fast and high.
So, there's the part of this conversation that is all about the schmooze with the seller's agent and loving on the property.
And then there is the messy part about helping my clients determine what a property is worth to them. Fair market value is whatever value buyer and seller agree upon, and previous sales can help determine that number through a CMA (Comparative Market Analysis).
But in a multiple bid situation, the idea of "fair market value" gets thrown out the window as one realizes that the winning price will likely be more dependent on one's emotional value towards the home, and if their bid will be high enough to beat out the other bidders.
I often tell my clients there is a number at which you feel really good winning or losing the property. If you win it, you feel good about how much you paid, and if you lose it, you know you did all you could to win. In other words, you won't feel a dagger in your heart every time you drive past the home.
For my West Portal client, we went through an exercise where I asked, "How will you feel if somebody beats you in winning the property by $5,000, $10,000, $20,000 or even $100,000 or more."
This is a powerful exercise, as it puts the purchasing power in the lap of my client. As a realtor, it's my responsibility to give my clients all the data so that they can decide how they want to spend their money.
In this case, we looked at the comps and when my client thought about how badly she wanted this home, she came up with a number that felt really good to her whether she won or lost. I'm thrilled to report that my client beat out 5 other bids, and she is thrilled about the purchase of her forever home.
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If you're interested in learning more about the Buying Process and or the San Francisco Real Estate Market, or know somebody else who could benefit from my expertise, please do not hesitate to pass on my information.
I'm always happy to chat and share the inside scoop.
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And Now, the Inside Scoop on San Francisco Real Estate
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The Spring Market Began in January & Continues to Accelerate
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New Listings are up 10%
Listings Pending Sale are up 95%
Luxury House Sales are up 87%
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At the beginning of a new year, it is not unusual for buyers (demand) to jump back in much sooner than sellers (new listings - supply), a dynamic which commonly accelerates as spring gets underway.
When demand surges while new listings lag behind, buyers must increasingly compete, often heatedly, for appealing homes.
This imbalance in supply and demand adds considerable pressure to the market with overbidding and price increases becoming much more common.
This has occurred with a vengeance in early 2021, especially with the city's single family home market (as it did with my West Portal buyer up above).
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Single family homes have continued to appreciate year-over-year while condo and TICs have remained closer to 2018 prices.
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Based on this chart below, the Condo/TIC market could become inundated with new listings. The cadence of these listings coming to market will determine how it affects buyers and sellers alike.
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The seasonality of San Francisco's real estate market appears to be back on track for the spring market.
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And for those who think the money has left San Francisco since the Pandemic, the numbers show a different story. Year over year, February 2021 had far more ultra luxury homes sales than February 2020 with the majority of those sales in District 5 (Noe Valley, the Castro, Cole Valley, Ashbury Heights and Buena Vista Park).
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Interested in getting more of the inside scoop on the San Francisco Real Estate Market? Just ping me!
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© Compass 2021 ¦ 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.
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