What Day Is It?
What a week it is has been. Coming up more often is the progression that Shelter @ Home will extend itself. When a relaxation appears imminent, then more cases occur. Go out shopping and everyone is wearing a mask and gloves. Fill up for gas. It is not uncommon to see the disposal of gloves after the tank is filled.
Local media is on both sides of the street when it comes to whether there is a relaxation of rules or will there be a return to shelter in place.
For the real estate buyer or seller one needs to get a grip on the situation and look at it realistically with a focus on their long term objectives.
Yes there will be opportunities. Having cash in liquid form and a commitment letter from a bank is a necessity. Having a plan is necessary
Do not become too optimistic or too pessimistic that you either put yourself in a regrettable situation or missed a golden opportunity. I think of a sermon from our local priest about a soul is given a tour of heaven. St. Peter takes the soul on the tour introducing ll the beauty of heaven. They pass a locked door. The soul asks what is behind the locked door. St Peter reluctantly opens the door and from the door to as far as the soul can see are wrapped gifts. The soul looks quically at St Peter. St. Peter says those are gifts God has given mankind that were failed to be opened. Do not let god's Gift pass you by because of fear or lack of advice.
No, the economy will not be returning to normal! It is easy to be pulled along by the economic, political and governmental experts. Look at the present realistically and the future positively and lean toward caution. While city core areas are being torched and gutted and looted and the virus has a resurrection there will be opportunities.
On a daily basis the results of the riots, work from home mandates, closing brick and mortar stores, the joy of sitting at our favorite bar or restaurant has been taken away. The results are evident Wealthy buyers reportedly are in a "mad rush" to leave San Francisco. For decades movement in and out of San Francisco has existed. Moving out and paying dearly and moving back in and paying dearly has gone on for decade after decade. It is only opportunity, God's Gift to be opened. San Francisco is not the only major city to see a migration. Manhattan's empty apartments leases plunge 62% in May! Like San Francisco the movement out of cities have been historic. Once the cites get control of their environment the movement back will return. During those times of opportunity will exist for both those returning and those leaving. It is all up the those willing to take God's gifts for their advantage.
Carrying on with the mantra the fact of movement is so strong it is becoming a common thread for the media. Cities are crumbling all over the US, the infrastructure, the schools, the proper training of public servants all come to a point when the call is "We've Had It."
These are times of opportunity for those who have always had the desire to live in San Francisco, this is the opportunity. There are neighborhoods that remain peaceful and safe. To those in the city wishing to find a quiet place to live there is no better place the the Peninsula.
FROM A DISTANCE: In light of the heightened social distancing, there is no better place or time to slow down, take a step back and enjoy to poetic beauty of the lifestyle and environment of the Peninsula. The Western Hills offer panoramic views of the Bay and the Ocean. There are stands of Old Growth Redwoods and the peaceful quiet of the clean air those gentle giants provide. Even it you only want an escape from the hustle and bustle of San Francisco or Silicon Valley the Western Hills and their communities will provide a vacation home and an escape minutes away.
Present day situations do not bode well for the real estate market. Remember this is opportunity. Zillow will give some indications of the health of the market.
Rentals in Los Altos has prices down over 19%. Redwood City has a 1.9% decline which only hides a probable cuts coming. Some 193 properties are for rent on Zillow. 7 Bayberry in Portola Valley has had a 10.72% price cut in the listing price. 986 Loma Verde in Palo Alto a 10.22% cut in the listing price. Double digit price cuts are become very common all over Silicon Valley.
E-blasts from real estate agents to other real estate agents tell a similar story. Selling agent gets a week in a condo in Hawaii to sell at listing price. Another agent is offering a 3 1/2% commission, over the standard 2 1/2% commission for selling a home at list. The flat lands in Redwood City once dominated by Google, Facebook and buyers who used company buses have seen a dramatic slow down as they all work from home and new buyers look outside the Bay area. That is not to say homes do not sell. Sales occur when prices are at a level buyers feel satisfied.
Remember Gary McKae when a referral from a friend or family member is looking for housing. Negotiating in this market takes experience and knowledge. Age does help and buyers and sellers will be given dedicated service.
Gary McKae
Local media is on both sides of the street when it comes to whether there is a relaxation of rules or will there be a return to shelter in place.
For the real estate buyer or seller one needs to get a grip on the situation and look at it realistically with a focus on their long term objectives.
Yes there will be opportunities. Having cash in liquid form and a commitment letter from a bank is a necessity. Having a plan is necessary
Do not become too optimistic or too pessimistic that you either put yourself in a regrettable situation or missed a golden opportunity. I think of a sermon from our local priest about a soul is given a tour of heaven. St. Peter takes the soul on the tour introducing ll the beauty of heaven. They pass a locked door. The soul asks what is behind the locked door. St Peter reluctantly opens the door and from the door to as far as the soul can see are wrapped gifts. The soul looks quically at St Peter. St. Peter says those are gifts God has given mankind that were failed to be opened. Do not let god's Gift pass you by because of fear or lack of advice.
No, the economy will not be returning to normal! It is easy to be pulled along by the economic, political and governmental experts. Look at the present realistically and the future positively and lean toward caution. While city core areas are being torched and gutted and looted and the virus has a resurrection there will be opportunities.
On a daily basis the results of the riots, work from home mandates, closing brick and mortar stores, the joy of sitting at our favorite bar or restaurant has been taken away. The results are evident Wealthy buyers reportedly are in a "mad rush" to leave San Francisco. For decades movement in and out of San Francisco has existed. Moving out and paying dearly and moving back in and paying dearly has gone on for decade after decade. It is only opportunity, God's Gift to be opened. San Francisco is not the only major city to see a migration. Manhattan's empty apartments leases plunge 62% in May! Like San Francisco the movement out of cities have been historic. Once the cites get control of their environment the movement back will return. During those times of opportunity will exist for both those returning and those leaving. It is all up the those willing to take God's gifts for their advantage.
Carrying on with the mantra the fact of movement is so strong it is becoming a common thread for the media. Cities are crumbling all over the US, the infrastructure, the schools, the proper training of public servants all come to a point when the call is "We've Had It."
These are times of opportunity for those who have always had the desire to live in San Francisco, this is the opportunity. There are neighborhoods that remain peaceful and safe. To those in the city wishing to find a quiet place to live there is no better place the the Peninsula.
FROM A DISTANCE: In light of the heightened social distancing, there is no better place or time to slow down, take a step back and enjoy to poetic beauty of the lifestyle and environment of the Peninsula. The Western Hills offer panoramic views of the Bay and the Ocean. There are stands of Old Growth Redwoods and the peaceful quiet of the clean air those gentle giants provide. Even it you only want an escape from the hustle and bustle of San Francisco or Silicon Valley the Western Hills and their communities will provide a vacation home and an escape minutes away.
Present day situations do not bode well for the real estate market. Remember this is opportunity. Zillow will give some indications of the health of the market.
Rentals in Los Altos has prices down over 19%. Redwood City has a 1.9% decline which only hides a probable cuts coming. Some 193 properties are for rent on Zillow. 7 Bayberry in Portola Valley has had a 10.72% price cut in the listing price. 986 Loma Verde in Palo Alto a 10.22% cut in the listing price. Double digit price cuts are become very common all over Silicon Valley.
E-blasts from real estate agents to other real estate agents tell a similar story. Selling agent gets a week in a condo in Hawaii to sell at listing price. Another agent is offering a 3 1/2% commission, over the standard 2 1/2% commission for selling a home at list. The flat lands in Redwood City once dominated by Google, Facebook and buyers who used company buses have seen a dramatic slow down as they all work from home and new buyers look outside the Bay area. That is not to say homes do not sell. Sales occur when prices are at a level buyers feel satisfied.
Remember Gary McKae when a referral from a friend or family member is looking for housing. Negotiating in this market takes experience and knowledge. Age does help and buyers and sellers will be given dedicated service.
Gary McKae
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