Ways to Connect.

Email to have your questions and concerns promptly addressed, or call the office at 415-255-2288. You can also follow the happenings of your fellow SFAA members and find out the latest in the industry by connecting with SFAA on Facebook. Search “San Francisco Apartment Association” and “Like” it to add it to your news feed.

Follow SFAA on Twitter at twitter.com/SFAptAssoc

• New sfaa.org website launched!

• Email SFAA at MemberQuestions@sfaa.org

• Follow SFAA on Twitter at twitter.com/SFAptAssoc

Over the past decade, many Downtown buildings were purchased by institutional investors who are now facing many challenges in current market conditions. The Downtown sector has vacancy rates above the norm, with rents still below pre-pandemic levels. These factors coupled with rising interest rates and maturing loans are stressing various portfolios, and loan defaults are in the news. Various reports are estimating close to $1 billion in current loan defaults in the multi-family sector of San Francisco. There are many different possible scenarios in regard to how this situation will unfold, and only time will tell how this all plays out.

I am writing this article in mid-January of 2023. I am expecting somewhat-quiet transaction levels in the first quarter, which is typical in our marketplace. Many investors are preoccupied with tax season before they get rolling into the market.

Sale inventory was low in the fourth quarter of 2022, and it remained low in the start of 2023. There is an air of caution in the market as interest rates doubled over the last six months, layoffs have spiked, and a recession is upon us, or nearing, depending on which definition of recession you want to reference.

There’s another Fed meeting at the end of February, and experts are expecting another quarter-point rise, which at this point seems like good news when compared to recent three-quarter point hikes. Industry-wide, the hope is that we’re nearing the end of rate hikes,

2023 Winter CCRM Webinar Series Schedule &

Upon registration the Zoom link will be emailed to the student Class is every Tuesday

To Register Online: www.sfaa.org Call: 415-255-2288 x.110 Email: maria@sfaa.org

Information: o Credit Card o Mailing Check o Series Invoicing (members only benefit)

Credit card number: Exp. Date Signature: Name printed:

Cancellation Policy: Cancellations must be made 72 hours in advance for a refund SFAA does not provide refunds for No-Shows. Non-members must pay by credit card only!!!

*Students requesting CalBRE Continuing Education Credits must show picture ID, immediately before admittance to the live offering.

CCRM Certification Renewal Policy: In order to keep the certification active, CCRMs must complete twelve hours of continuing education credits & submit a renewal application along with a renewal fee every other year (2 hours of these credits must be in Fair Housing)

2023 Spring CCRM Webinar Series Schedule &

Upon registration the Zoom link will be emailed to the student Class is every Thursday

Attendee Information:

To Register

Online: www.sfaa.org

Call: 415-255-2288 x.113 Email: stephanie@sfaa.org

(includes 9th Edition Managing Rental Housing textbook, CCRM binder and Welcome Packet; does not include the $75 CCRM application fee)

Company Name:

City:

Phone: Fax:

Local Association ID Number: Payment Information: o Credit Card o Mailing Check o Series Invoicing (members only benefit)

Credit card number: Exp. Date

Signature: Name printed:

Cancellation Policy: Cancellations must be made 72 hours in advance for a refund SFAA does not provide refunds for No-Shows. Non-members must pay by credit card only!!!

*Students requesting CalBRE Continuing Education Credits must show picture ID, immediately before admittance to the live offe ring.

CCRM Certification Renewal Policy: In order to keep the certification active, CCRMs must complete twelve hours of continuing education credits & submit a renewal application along with a renewal fee every other year (2 hours of these credits must be in Fair Ho using)