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COVID-19 & BAY AREA REAL ESTATE
The human species in general has a very short-term memory. We will forget about ‘that time we weren’t allowed to be within 6 feet of each other.’
A recent uptick in the San Francisco market is showing properties with certain features: outdoor space, private patios, and roof decks are back to selling at a familiar pace: Less than a week on market.
An inflection point is nearing in the condominium market in San Francisco. Values can only drop for so long, or more appropriately said, the select group of buyers in the market could only retain their exclusivity for a certain period of time.
6 months into the pandemic, some obvious trends have become clear. Most notably, we are in an established Buyers Market for condos in San Francisco. Learn what that means for both buyers and homeowners trying to sell.
In the wake of the virus and its impact on financial markets, people have seen their portfolios take a massive nose-dive in value. Pulling back and out of equities to make other investments, pay off debt, or just to maintain cash levels on hand is not as attractive of an option as it was 2 weeks ago.
Our world has been turned upside down in a matter of weeks. For some, it was a matter of days. Now, we all sit at home and wait. And some worry that this is 2008 all over again. This isn’t.
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