The Government Shutdown and the Real Estate Market
The U.S. government shutdown and the escalation of concerns about the debt limit/possible default has drastically affected San Francisco market activity as measured by the percentage of listings accepting offers – as in a drop of approximately 50% from normal levels. Of course, this might be a short-term transitory effect that will disappear if these issues are resolved soon, as we certainly hope they are.
The Wall Street Journal reported last week that a Pew Research Study showed that the more affluent people were, the more concerned – as in very concerned – they were about the debt limit not being extended and the government going into default. In that study, the affluent were those households with $100,000 and more in household income: Certainly, our demographic of buyers falls into that category. Interestingly, the East Bay, with a median price about half of ours, is not showing the big drop in the percentage of offers being accepted in the past 2 weeks.
Thank you for your tireless optimism, enthusiasm and energy
“Thank you so much for everything. For making the process easier, for having a great read on the San Francisco real estate climate, understanding the neighborhood micro-markets. Thank you for your tireless optimism, enthusiasm and energy – the ultimate professionals who brought the personal touch we were looking for.”
Jenna & Angelo - Seller
We have never come across such a professional
“We have never come across such a professional team in the real estate industry in our experience in any city around the world in which we have lived… From the search, to the negotiation, to the closing, to the moving in and settling process, they went above and beyond the call to assure our extreme satisfaction and delight.”