Our Blog

Home Upgrades

As we move into Spring, it's time once again to use the milder weather, especially when we have a rain break, to undertake repair or remodel projects.  No matter if the issue is delayed repairs, upgrading your landscaping or getting that long discussed remodel underway, this is the perfect time to get moving!  Not only can t solve a long outstanding issue, but it will increase your overall value.  Landscaping upgrades not only increase your home's value.  They also add to its 'curb appeal'--the first image your home projects that says to everyone seeing it, check this out!  It's a wonderful home! What you first need to do is decide which project you wish to do.  Then assemble a budget,...

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Appreciation Slows–And We Can Appreciate That

More Good News for U.S. and California Home Shoppers, as Appreciation Slows   The median price for an existing U.S. single-family home was $257,600 as of the fourth quarter, up by 4.0 percent year over year. U.S. home price growth outpaced annual appreciation in the San Francisco metropolitan area, while San Jose saw home prices fall from the fourth quarter of 2017. Despite cooling price growth, San Francisco and San Jose remain America’s most expensive housing markets. Nationwide, homebuyers had more properties to choose from in the fourth quarter than they did a year ago, while major California housing markets saw price growth moderate. That’s according to the latest quarterly...

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BUYERS: Avoid Huge Down Payments

One item that is always an issue with buyers, especially first timers, is the frequent requirement for hefty down payments.  Fear not--there may be ways to avoid this.  Interested?  Read on! First-time homebuyers in the San Jose and San Francisco metropolitan areas make average down payments of more than $125,000. In San Jose, 95 percent of new homebuyers have credit scores of 680 or better. While Federal Housing Administration-insured loans can save Bay Area buyers a substantial amount on a down payment, they have a ceiling of about $725,000. New buyers who are shopping for a home in major coastal California job centers should prepare to part with a sizable down payment, as well as...

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Cost of Living Worries

Cost of Living is causing many Californians to look at moving--AWAY!! How come? Read on! California’s exorbitant cost of living is top of mind for its residents, with nearly half saying that they cannot afford to live here. Poll results from the Bay Area Council found that 43 percent of Californians say that the state’s affordability conditions are a major hardship, according to a report from SFGate. Predictably, that number increases to 61 percent for those in the 18-to-34 age bracket, as that demographic is often saddled with paying off student debt. Although most Californians think that the state’s economy is excellent (or at least good), they would not be afraid to leave it behind...

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January Job Growth Info–What It Means For You

Well, the job figures are out for last month and they bode well for most of us.  That includes in relation to your real estate situation. Read on and smile! It was the 100th consecutive month of growth. Today’s national employment report from the U.S. Bureau of Labor Statistics outpaced expectations, with 304,000 jobs added in January. The strong gain follows equally impressive December additions, though those numbers were revised down by 90,000 jobs. Nevertheless, the trailing three-month trend of 241,000 jobs created per month still beats economists’ outlooks at this point in the cycle. Over the last 12 months, the U.S. economy has added 2.81 million jobs, compared with 2.48 million jobs...

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Gov’t Shutdown & Fed’s Cautious Stance: Their Impacts & Effects on You

As always, anything that the Federal Government does has an effect on all of us at the citizen level.  IT may not immediately be felt, but, you can be certain, sooner or later, the results will trickle down to our level here on the street.  For a more detailed explanation, read on. The stock market exhibited volatility early in 2019 but recovered following the Federal Reserve’s announcement that it will leave rates unchanged. The Fed emphasized that it will be patient in determining its next steps, both regarding the federal-funds rate and the unwinding of its reserves. And though markets have widely expected the Fed to keep its target rate unchanged, the market welcomed its emphasis on...

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Yearend Employment Numbers Bode Well in 2019

The latest employment figures for yearend 2018 came in strong and bode well moving into 2019.  The following will demonstrate why. California added 24,700 jobs in December, to end the year with 284,300 new positions in 2018 according to the latest numbers from the state Employment Development Department. That represents a 1.7 percent increase from the year before compared with the 1.8 percent growth recorded nationwide. In the nine years since the economic expansion started, the state has created a total of 3,097,600 jobs. The state’s unemployment rate edged up to 4.2 percent, though the increase was due to a gain in California’s labor force, which grew by 75,800 during December. The...

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Looking Forward : 2019 Opportunities

 As we move into the New Year, it appears there are a number of opportunities in the year's housing market.  Interested? Read on! Executive Summary: With December’s 22 percent year-over-year decline in overall Bay Area home sales, 2018 ended with 1 percent more activity than in 2017. Santa Clara and Sonoma counties concluded the year with sales declines, while San Francisco outpaced the previous year with a 9 percent increase. Sales of homes priced higher than $1 million outstripped 2018 activity by more than 20 percent. Overall inventory increased by 31 percent year over year in December, with most of the gain for homes priced below $2 million. However, even with more inventory, the...

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Wage Growth Now greater Than Home Prices

HAPPY NEW YEAR! Finally, for the first time in several years, personal wage growth is outpacing growth in home values.  This is very good news for everyone, be they buyer OR seller. Nationwide, housing affordability is at its lowest level in more than 10 years in the fourth quarter. Wages are growing faster than home prices on an annual basis in San Francisco, San Mateo, and Santa Clara counties. Marin County is the nation’s second-least affordable housing market, with the average household needing to spend more than 120 percent of its annual wages to purchase the median-priced home.   Although major California housing markets remain far less affordable than the U.S. average, incomes...

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