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As regular followers of this blog already know, one factor that helps improve home values is low unemployment rates.  The reason is simple!  If someone's got a job, they logically have the funds to buy a home.  Well, people, with that in mind, I have good news for you!   The Golden State added 5,500 jobs in May and downwardly revised April’s monthly growth to 25,600, according to the latest numbers from the California Employment Development Department. This year’s job numbers have been unusually volatile, mostly due to larger-than-usual changes in industries that are sensitive to seasonal trends. Total state numbers also differ slightly from changes seen at metropolitan area levels,...

There are many reasons that home values can and do increase. General economic situations; quality of schools; increased demand--they all have positive effects on the value of residences.  However, another category can also have major effects:  amenities.  What are we referring to? Read on to find out, as well as how to benefit from these items. BARBECUES, FIRE PITS ADD MORE THAN 20 PERCENT TO GOLDEN STATE HOME PRICES Summer officially arrived late last week, and California homeowners who have tricked-out their backyards for outdoor parties not only stand to have good times ahead but also higher home prices if and when the time comes to sell. That’s according to a new realtor.com report,...

Just when it seems impossible to see values go much higher any time soon, new stats come out showing that new highs continue to be reached, and very likely followed by higher ones yet!  Interested?  Read on. Executive Summary: The Bay Area’s median home price reached $1 million in May, a 17 percent year-over-year increase, with Silicon Valley continuing to post 30 percent appreciation. Homes sales activity matched last May, with San Francisco showing the strongest gain, up by 7 percent year over year. Napa County sales were slower than last year. Higher-priced sales rose up by about 30 percent. Activity in Napa and Sonoma counties was relatively slower than in the rest of the Bay Area....

This may not be surprising, given the cost of houses these days, but surprisingly few people actually realize exactly how much of their net worth or asset total is concentrated in the value of their home.  Therefore, you'll probably find the following interesting, particularly if you're applying for a new mortgage or equity line, or updating your family trust, will or other important documents. Americans’ primary residences account for about 25 percent of their overall wealth, more than any other asset. Homeownership remains a cornerstone of the American Dream and also helps build strong communities and drive the U.S. economy. Nationwide, the homeownership rate remains below its long-term...

Since the Fed started raising rates last year, the 'ripple effect' has followed suit.  Rates for a mortgage have risen and continue to do so.  This means that it will cost you more to buy a house today than this time a year ago.  More important: WHERE will the rates go from here? Read on for some very enlightening info. EXECUTIVE SUMMARY • Thirty-year, fixed-rate mortgages in 2018 have been rising at the fastest pace in 50 years and reached 4.66 percent for the week ended May 24 before dropping to 4.56 percent this week. • However, mortgage rates did not increase proportionally to the federal funds rate determined by the Federal Reserve because they are determined by longer-term economic...

Well, it was inevitable.  Bay Area median values have continued their 'ride to the moon' and once again hit new record highs!  Better Yet: for all of you fellow Marin owners, the Marin median has also hit a new all-time high level: $1.385 MILLION!  That's a ten percent increase over the level a year ago.  What other investment do you have that has shown that kind of increase in the past year?  If you're like most folks, probably not too many. Why is this happening? Read on for more detailed info. California’s median single-family home sales price was $584,460 in April, about $10,000 short of its all-time high. The nine-county Bay Area’s home price exceeded $1 million and was up by 14.1...

Well, it was inevitable.  As California continued its fantastic growth over the past several years, it has continued its climb up the rungs of the ladder ranking national economies by size.  We're now larger than many members of the European Union: Italy; France; Greece; and most recently, the United Kingdom.  We're now fifth largest economy among nations in the world!  You want details?  Read on.   Robust 2017 economic growth in California helped push the state to the world’s fifth-largest economy, surpassing the United Kingdom. Only the U.S., China, Japan, and Germany now have larger economies than California. The size of California’s economy is a little more than one-tenth of the...

Any of you who're regular readers have heard me talk of the benefits to the housing market when unemployment drops.  Well, it's down again and the results continue great! Read on for details. • Today’s national employment report from the U.S. Bureau of Labor Statistics reported an increase of 164,000 jobs in April, which continues tight labor market conditions. The unemployment rate fell to 3.9 percent, the lowest level since December 2000. • The positive indicators in the report are continued job growth across various sectors and diminishing labor-market slack among workers employed part-time who report wanting full-time work. • Wage growth was somewhat disappointing, though some sectors...

In spite of the fact that prices and mortgage rates are rising, there is, believe or don't, a definite lack of available housing for folks to buy all over the state.  How is this possible?  Peruse the following and you'll see that it's not that difficult. Between 2000 and 2015, the U.S. built 7.3 million fewer homes than was necessary to meet buyer demand, according to a new study. Over that time period, California was responsible for 45 percent of the nation’s undersupply, or 3.4 million units. The study advocates a development approach that places more new housing near public transportation, which could eventually reduce California’s vehicular traffic by nearly 30 percent.   Over...