I don’t know what you do when you don’t know, but this is what I do: I focus on what I have on hand and in this moment. And then, I breathe. That’s it! Evaluate what I actually have on hand in this moment against any alternatives I can also take in this moment. Breathe. Repeat as necessary. This has been frequently necessary since last Tuesday as I think about Trump and San Francisco real estate.
If it’s an egg, for example, I think a lot harder about if I should eat that egg today or endure the volatile and uncertain risk/reward time period to hold that egg until it becomes a chicken and appreciates in value. While an egg today might not be nearly as awesome as a chicken tomorrow, an egg today really isn’t too shabby at all. There is a definite value in having and enjoying or deciding to trade that egg today.
Our team has been talking a lot about what we think the 2016 election means for SF real estate and San Francisco. I believe the very best agents are able to detect patterns and trends and use that insight to their client’s advantage before the rest of the market notices. Given that we appear to be headed into an era without precedence, patterns and trends before November 8 may very well be meaningless. All of which is to say: We Don’t Know.
I’ve spent a lifetime of building spreadsheets, mentally modeling multiple outcomes, and generally seeking order out of the vast amount of data the world dumps on us every moment of every day. With the exception of the spreadsheets, I truthfully think we’re all a little like that.
I’ve read all the opinions I can find about how our next president will affect real estate, and I think it’s all pretty timid thinking. Interest rates are expected to rise into the 4% range, local and state regulations combined with opposition to growth will continue to restrain supply, and no one wants to predict what the larger economy will look like a year from now and make guesses about demand for real estate.
In uncertain times, tangible assets tend to be the most popular. A slice of home to call yours in the blue capital of the blue-est state so you can surround yourself with like-minded people is a pretty compelling reason to live here. That is, if you can afford it, still have a job, and your savings haven’t been wiped out. It’s like the Garden of Eden is perched at the edge of a precipitous cliff and either we build the promised land or we fall off the cliff into a hellmouth of economic doom.
The sun will set, the sun will rise, and tomorrow will appear. Opportunities are made by smart individuals working together, not by markets. Our focus continues to be on serving our clients as honest, transparent and data-driven stewards of their SF real estate goals. We’ve built a business with a reputation for creative problem-solving, and we know this skill will be of even more value to our clients in the months and years to come.