Good Afternoon,
It is summer in the Bay! It is getting extremely warm in Marin and extremely cold in SF! Please see the attached housing reports for Marin and San Francisco. In summary the theme remains the same, that SF remains incredibly strong and competitive and that Marin is reaching its summer crescendo as the holidays start.
Listings
253 W Baltimore, Larkspur, $2,450,000 - 3BD 3BA in a prime, ultra prime location only 12 minutes from the GG Bridge, in a redwood grove but still sunny and onlyย a three minute walk to downtown Larkspur. Open house 1-4PM 6/13, 6/14
Pending
5526 Balboa Drive, Oakland - Montclair retreat
Closed
1288 Howard St, Unit 317, SF - Downtown corner unit.
2999 California St, SF - Pac Heights Condo
18 Ridgeview Court, Sausalito - Sausalito bolt hole
42 Pine Drive, Fairfax - West Marin retreat
MarinSFA homeowner in Duboce Triangle recently listed a $3 million property and openly stated they would consider accepting Anthropic or OpenAI stock as payment. That may sound absurd, but it's also a sign of just how much wealth is being created by the AI boom.The SF technology-driven prosperity cycle continues. AI companies are creating enormous wealth at pace, while the city continues to experience a shortage of housing. Whether you agree with that is your business!This results in buyers routinely bidding hundreds of thousands, sometimes millions, above asking price for desirable homes. Inventory remains exceptionally tight, particularly for turnkey SFH's in neighborhoods like Noe Valley, Pacific Heights, Cow Hollow, and the Sunset. Will these would be buyers head to Aspen for the summer or continue the buyer spree through July and August (they will continue).Space X IPO this morning!
Deals are healthy but (with a few exceptions) not parabolic like SF. However VALUE I believe can still be had in Tam Valley, the southern part of Mill Valley. If you have a budget of $2 million and want to be in southern Marin that is where you should be focusing your search. Especially as Corte Madera has experienced remarkable price growth in these last six months
Mortgages
Mortgage rates remain stubbornly elevated near 6.5% as strong economic data, inflation concerns, and the ever changing Iran conflict continue to pressure bond markets. While many economists expected multiple Fed rate cuts this year, buyers are increasingly accepting that rates may remain higher for longer and are choosing to secure homes now with the option to refinance later.
The Chaser
The Hood Farrell Group has been ranked in the WSJ as one of the top small teams in SF. Please see the attached photo.
World Cup has started!!!!! US tonight, England nextย Wednesday!!!
In Harry Kane we trust.
Regards,
Ollie
@ojsloanesf