Facing the Facts
Let’s start by addressing the elephant in the room: times are tough. The economy is not looking good. The country is at an all time high for unemployment. Retail is in decline. Nearly 5 million households are in Forbearance on their mortgages. However, on a state, county, and city level the pandemic has not affected home values and will likely not affect real estate in the near future.

Local Luck
The laws of supply and demand are working in our favor. In San Francisco, the main buyer population belongs to employment categories that can work remotely and maintain income. The number of buyers has certainly diminished but so has the number of properties for sale. This means that home values are holding steady. For the buyers who are financially able to continue their home search, interest rates are low, offering a great opportunity to find the perfect spot to shelter in place.

Buyers v. Sellers
An interesting division has sprung up between buyers and sellers. Many buyers believe that these unusual times should result in a discount to home prices. Most sellers are aware that buyers have fewer options and believe that their homes have retained their value.

This is not 2008
Millennials are the largest pool of home buyers, and the only other economic crisis they have lived through (as adults) was the financial crisis of 2008. Many are understandably concerned about a similar, slow return to economic health.

It is important to remember that, while the economy has taken a hit, this is not 2008. In 2008, the economic crisis was, well...economic. Before the pandemic, our economy was strong. We were at an all time low in unemployment. We were experiencing non-zero savings rates. Based on that setting, the current economy is likely to recover relatively quickly once we have achieved either herd immunity or a vaccine (whichever comes first). Economists predict a 1 digit price decline in homes, which is possibly negligible overall.

There are many ways we can support local businesses during this time. What better way to support them than by stocking up your pantry with some locally made condiments? Like many of us, you may be using this time to cook more at home and looking for ways to spice up your meals. Check out this list of pantry staples that will help take your pantry to the next-level, while also supporting local businesses. Read More »»

As we start to ease back into some sort of normalcy and adjust to the new norms created, one thing we can take advantage of in the Bay Area is the abundance of outdoor spaces. While non-essential travel is still restricted, these outdoor spaces offer local adventure to clear the mind and get some air. Read More »»

With more time at home and summer just around the corner, your backyard may be needing an upgrade. Now, more than ever, your outdoor spaces are the escape we need! If you are looking to spruce up your outdoor spaces to help fight quarantine fatigue, this article has some great ideas for all budgets. Read More »»