Our Blog
Pacific Union Rank Rises!
Just as in any other type of industry, real estate firms are ranked by a number of standards, one of them the total volume of sales per year. Following this standard, in figures just announced for 2016, Pacific Union has moved up a notch to the eighth largest in the nation, based on total value sold for the year. That total Dollar value exceeded TEN BILLION! That's NOT a typo--just the facts. For more details, read on. In its annual list of the 500 largest U.S. residential real estate brokerages, noted industry publications REAL Trends and RISMedia rank Pacific Union as the eighth-largest brokerage in the country, with 2016 sales volume of $10.15 billion. Our firm has ranked higher on...
Full Employment in State: Bodes Well for All
Full Employment usually bodes well for both Buyers and Sellers. The reasons are simple! Buyers who are employed are more likely to be able to buy a home, and Sellers will have a larger pool of potentially interested buyers competing for the home being sold. Read on! Following an upwardly revised increase of 15,300 jobs January, California’s February job numbers showed an increase of 22,900 new jobs, according to the latest statistics from the state Employment Development Department. Slowing job growth is expected at this point in the economic cycle and given that the state has essentially reached full employment. The year-over-year growth rate stands at 1.9 percent, higher than the...
My, Your Equity Has Grown!
You may have suspected as much, but the following will give you an idea just how much your equity in your home has increased in recent years as values have steadily risen. Although California price appreciation slowed in 2016, homeowners still gained about twice as many equity dollars as the national average. San Francisco remains the country’s leader in that respect, with virtually all homeowners in positive-equity territory at the end of last year. According to CoreLogic’s latest home-equity report, price gains pushed the number of U.S. households with equity to 48 million in the fourth quarter, which represents 93.8 percent of properties with a mortgage. That’s a slight gain from the...
Rising Rates & What They Mean
Well, we've been talking about the likelihood of the Fed raising interest rates now for some time. This past week, Chairwoman Yellen did so, simultaneously noting the Fed likely will follow with at least two additional increases later this year. She stressed that the increases will not be 'sledgehammers, but, instead, be moderate increases. What Do Higher Rates Mean for the Housing Market? The Fed’s interest rate increase is a double-edged sword: The move signals confidence in continuedjob growth but also means higher borrowing costs, which lowers housing affordability. And in the Bay Area, where housing affordability is already a serious issue, further eroding affordability does not...
Bay Area Remodel Costs Highest in US
So you have the house you want, but....there's just one thing you'd like to add and that would make it perfect. What to do? Buy a new house or remodel? Usually, for reasons of cost & convenience, the answer is remodel. BUT: it isn't cheap. Read on. U.S. home-remodeling spend has surpassed its previous peak, as owners in metro areas like San Francisco, where both home values and incomes are high, spare no expense on upgrades. Residential home-remodeling and -maintenance spending — including jobs by both owners and landlords — reached $340 billion in 2015, according to a recent report from Harvard Joint Center For Housing Studies. That’s a new all-time high and tops the $318 billion...
Loan Rates Slowing Purchases
As interest rates finally began their predicted increases, a noticeable aftereffect was experienced--sales numbers dropped in the last quarter of 2016. Some experts feel this may be the start of a trend. Read on for more, especially if you're considering selling. Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious LOAN ORIGINATION, MORTGAGE REFINANCING ACTIVITY MOVE IN OPPOSITE DIRECTIONS Rising mortgage rates likely caused demand for new home purchase loans to fall drastically in the fourth quarter while also prompting more owners to refinance. In its latest U.S. Residential Property Loan Origination Report, ATOMM Data Solutions’ says that 595,000...
Buying? Just Ask Your Pet for A Preference
When it's time to buy, there are always a lot of things to consider, not the least of them the preferences of everyone who'll be living there--INCLUDING YOUR PET! If you’ve ever had a dog or cat nuzzle its way into your lap, a bundle of warmth, fur, and happiness, you know how easy it is for a beloved pet to make itself indispensable in your life. We go out of our way to accommodate them — even when making decisions on buying or selling a home or remodeling an existing one. A new report from the National Association of Realtors shows just how far we’ll go to keep our pets happy. Fully 81 percent of respondents to a NAR survey said that animal-related considerations play a role when...
Style DOES Make A Difference!!
I often get asked if the architectural style of a home has any effect on its value. The answer is "sometime"-- specially when you sell. So, like with everything else involved in the sale of your home, not to mention what you look at when you buy and think about future sales, the following should be of value to you. While America’s architectural styles are as diverse as the country itself, those who own modern homes are netting the biggest gains when they become sellers. A recent Realtor.com report examines common U.S. home styles and how they stack up in terms of geographic distribution, list prices, and recent price growth. The type of home mentioned most often across the country...
What’s Cooking
It's long been a fact that one of the most important places in a home for buyers is the kitchen. This is because it's not only the source of dinner, it's also become a family gathering place as well. So, one of the things most concerning buyers today is what does the kitchen have? Read on for more info! Owners who are planning on remodeling their homes in advance of putting them on the market would do well to take a look at what kitchen features and finishes builders are using in new homes, as many prospective buyers will want similar amenities. A new report from the National Association of Home Builders cites data from Home Innovation Research Labs’ 2016 Builder Practices Study in...