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For years, we've told our clients that the price of a property didn't matter as much as the "PITI" (principal, interest, taxes and insurance), with the assumption that most people never pay off their home loans until they sell. (That' remains true.)
In other words, owning a piece of the "American Dream" was all about the carrying costs, and for the most part, it still is. However, it's important to understand that the "carrying costs" of home ownership have gone up significantly over the past few years, and unfortunately, as long as supply continues to fall well short of demand, I don't see that changing anytime too soon. (Short of a major recession and I suspect, that none of us wants to see our economy hit a brick wall. Of course, I'm not an economist so I'm spitballing here.)
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I LOVE everything about the Olympics: the competitions, the drama, the stories, the sportsmanship, the pursuit of excellence for excellence's sake, not to mention the personal sacrifices each of these young (and not so young) athletes makes to reach the pinnacles of their sport. As they gather from every corner of the world. I'm truly in awe.
However, watching the 2026 Olympics currently being broadcast from Italy, it occurred to me that I may have missed my golden opportunity. No, it's not ice skating, or downhill skiing, or aerial snowboarding; it's curling! You know, that odd sport we only watch every four years, that involves a 42 lb. polished granite stone, some slippery shoes, and a broom? (I don't mean to brag, but I'm an expert at sweeping.) Often, when meeting potential Sellers at their home, the first order of business is to walk through the house. As I’d represented the Sellers when they bought the home several years earlier, I was familiar with the layout, but as they'd made several improvements, it was nice to get reacquainted with the property. However, out back, Mother Nature had intervened, and a MASSIVE tree had taken over much of their SF view.
"G'day mate."
Cliff and I spent the last three weeks in Australia, exploring Sydney, snorkeling the Great Barrier Reef, visiting the rain forest, trekking in the outback, bicycling and hiking through remote areas of Tasmania ("Tasie" to the Aussies), and finishing in Melbourne at the Australian Open. It was a bucket-list trip to be sure, and I loved nearly every minute of it (aside from the 110° temperatures in Ayres Rock which were too much for this Bay Area gal). Growing up in our modest household, our mother always had a jigsaw puzzle set up in the corner of our living room; a habit she continued until her dying day. So when she passed away a few months ago, and I began to miss our weekly visits — which always included lunch, The Dollar Store, and some time working on the latest puzzle — my sister and I came across the perfect game table at the flea market last month; clearly, a sign from heaven. (Thanks Mom.) As soon as we loaded it in the truck and got the table safely home, Jill and I wasted no time setting up, collecting, trading and purchasing puzzles, on the cheap (because $24 seems like too much for cut-up cardboard, but then again, you get what you pay for).
The 2025 market is wrapping up with what's been a surprisingly strong fourth-quarter finish in Piedmont, including a last-minute off-market sale that's sure to spell a Merry Christmas for us all. (Jingle bells, jingle bells, jingle all the way.)
Although off-market sales aren't the norm, our Sellers had already purchased their replacement property and preferred not to roll the dice or wait for the Spring Market to unfold. The additional time would have also meant overlapping mortgages for several months, not to mention painting, staging, carpeting, floor refinishing, and other marketing costs they were thrilled to forego. (These costs usually start at about $50,000.) Jill's back in town, having finally secured an appointment with the Spanish Consulate in San Francisco. (This literally took MONTHS.) But as she needed to establish residency there before she could qualify for an indefinite stay in Spain, she's spent the last month in Barcelona getting to know the neighborhoods and finding an apartment to legally rent. (It's fabulous AND big enough for visitors, so guess where I'll be headed in 2026?)
Ironically, she couldn't complete the paperwork in Spain, but had to fly BACK to San Francisco, where she had initially begun the application process; a process that can take weeks - not days - to complete. In the meantime, Jill is comfortably ensconced in our guest room while they run her fingerprints, check her criminal record (she's clean), and sign off on her physical. In short, emigrating to a foreign country isn't as easy as Instagram or Tik Tok might have you believe. In other words: it's a bureaucratic slog! (How do you say "nightmare" in Spanish?) The next two weeks rank among my favorites of the year. It's when Sarah, Kate, Elizabeth, and I deliver toffee to our clientele. And while our "nice" list has grown to encompass nearly 650 households, with the help of an Excel spreadsheet, we've honed this annual chore down to a science. (It goes much faster in teams.) Even so, it takes all of us working in unison several days to accomplish this mammoth holiday task.
Is it naughty to hide the toffee from your spouse and kids, as many of our emails assert? That's for you to decide. (No judgement here.) Enjoy it however you see fit. We're thrilled you not only look forward to the package from Little John's, but enjoy it so much year after year. Sarah and I have had a busy year, and we're incredibly grateful for it. With an abundance of work, we've kept ourselves and our team busy throughout the year thanks to your support. After months of non-stop activity, we're finally wrapping up the last of our listings, while simultaneously laying the groundwork for next year's business. Between now and then, there will be toffee to deliver, meals to prepare, pies to bake, and families to cherish. We hope you'll be able to gather your friends and loved ones close to enjoy the holiday.
"Hey Julie," the text message said, "We have the last remaining spots for the Top 12 Most Trusted Real Estate Agents in your state for 2024." (2025 wasn't important?) "After that you won't get this opportunity again. What would you like to do?" (Nothing.) These automated texts show up more and more frequently thanks to AI bots, but when you drill down on them, they're nothing more than a "pay to play" scheme. I don't know about you, but if I'm paying an institution, OR a media outlet, Or a client to BUY trust, it seems like the very opposite of what I'm supposed to do, which is to EARN trust, not purchase it. |
AuthorJulie Gardner, has been writing The Perspective for 19 years and has published more than 850 humorous but always informative, essays on life and real estate.
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