It was another tale of two markets during November in San Francisco. Home sales and median prices were up year-over-year, and properties spent less time on the market. On the flip side, condo sales and prices experienced a dip from 2022, and properties took longer to sell.
At a recent economic seminar with the Silicon Valley Association of Realtors (SILVAR), we learned about changes to real estate law beginning January 1st. We’ll have a full update next week, but in the meantime, let’s focus on four new policies…
Under current law, you’re allowed to build an ADU (aka Accessory Dwelling Unit) based on your lot size and zoning regulations in your particular city. Starting in the coming year, you’ll be able to sell an ADU with your lender’s consent and other additional restrictions. Even better, the limit for small real estate claims will jump from $10,000 to $12,050!
Starting next year, the environmental hazard information you receive from realtors will have new additions about sea level rise, wildfires, and climate change. Also, if a home has been owned for less than 18 months and has a major renovation, the seller not only has to disclose the changes they made and contacts of subcontractors but also the status of all permits.
This week, our Compass office visited Second Harvest Silicon Valley to pack donated food to distribute to families in need. Working together, we packaged an incredible 36,000 pounds of produce — enough to feed 5,760 people! Want to help? Tap the button below.
According to an annual survey from the National Retail Federation, 200.4 million people did some shopping from Thanksgiving Day through Cyber Monday. That’s nearly 4 million more than last year and 18 million more than expected. Most of the increase was among online shoppers, who totaled 134.2 million. But Small Business Saturday drew a majority of retail activity ($59M) to brick-and-mortar stores. Get more numbers from the NRF report.
Every family has their own holiday traditions — special games, events, and activities you’ve been sharing for so long you forget where (or why) they started. What’s one of yours?
Who’s up for Christmas mimosas, Hanukkah hot toddies, or Kwanzaa croissants? In this family, we do brunch for the holidays. Every Sunday morning is another chance to take a break from the world and get caught up with your loved ones – or whoever you choose to call your family. It’s a great way to close out one year and welcome the next.
Two words: Christmas swim. Yeah, I know, parents, there’s an episode of Bluey about this. But back in the olden days, our family would get together at somebody’s house and jump into a heated pool to work off all the excess energy from unwrapping presents and work up an appetite for a big dinner. And sometimes we wouldn’t heat the pool!
