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Regular readers have previously seen me discuss the benefits to both Owners and Buyers of homes that derive from strong employment.  Here's the latest info on this subject. The jobless rate in California is now at an all-time low. • In the last two months of 2017, California employers added more than 105,000 jobs, ending the year on an incredibly positive note. In fact, with more than 200,000 jobs added in the last four months of the year, it was the strongest streak of job growth in the state since the data series began almost 30 years ago. • California’s unemployment rate dropped to 4.3 percent, which marks the lowest point since 1976 according to a report from the state Employment...

In recent days and months new "currencies" have garnered lots of attention.  Led by Bitcoin, these cryptocurrencies have been frequently involved in speculative investment transactions, ALL without any of the traditional support or regulation found in real national currencies.  Should you take a chance and accept them as payment for your home when you sell?  Read on for good information and advice! EXECUTIVE SUMMARY: • Recent financial-market hype around cryptocurrencies is partly driven by the value of promising innovations stemming from blockchain technology, not necessarily from future value of Bitcoin or other cryptocurrencies. • Cryptocurrency mining requires enormous amounts of...

Living in California carries with it the ever present threat of an earthquake.  It's a fact of life--just like the sun coming up in the morning.  Most quakes are relatively minor, but, every so often, we get a real shaker!  The major quakes don't have to be on the scale of the 1906 San Francisco quake to do a lot of damage.  If you don't think so, let your memory wander to the Loma Prieta quake of 1989, sometimes referred to as the World Series Quake.  It did a fairly significant amount of damage around the Bay Area, including collapsing a freeway in the East Bay and knocking down a section of the Bay Bridge.  Also, it killed 63 people. Yet its reading on the Richter Scale was 6.9--strong,...

Everyone living here, whether a long time resident or a new arrival, knows that California and earthquakes go together like Ham and eggs.  No matter what you do, you can't guarantee that tomorrow won't bring a shaker than rocks and rolls and knocks down your house! I remember the Loma Prieta quake of twenty plus years ago like it was yesterday.  It was, at 7.1, the strongest quake to hit California since the infamous 1906 SF quake. Since then, we regularly experience smaller (thank God) rumbles from time to time.  In fact, the night before last my wife and I were awakened from a deep sleep at around 2:30 a.m. by a "small" 4.4 jolt. It felt a lot stronger than 4.4, but, fortunately, did no...

To all of our friends and clients, Jane & I want to wish you the Happiest, Healthiest and Most Prosperous New Year!  We look forward to helping all of you make 2018 the best year ever!

Well, once again the values of homes in the Bay Area continued to rise, as shown by November statistics announced this past week.  As I'm sure many folks have said many times, their home is probably the best investment they ever made! Details?  Read on. Executive Summary: The Bay Area’s median home price increased 14 percent year over year in November, driven by strong appreciation in Silicon Valley. Sales of homes priced above $2 million grew by 72 percent in San Mateo and Santa Clara counties, 95 percent in Marin County, and 81 percent in Alameda County. These higher-priced sales were a big driver of the home price surge. General market competition intensified in November, with a 10...

As regular readers will no doubt recall, I have frequently stressed in the past the importance that changes in employment rates have for the real estate markets.  There is a separate statistic that partners with jobs, and is equally important.  This is the rate of wage growth.  If jobs grow, it is, of course, a good thing.  However, if wage growth doesn't follow, then the rates of employment will be a hollow bit of information. Today’s U.S. employment report offered another solid month of job gains, with 228,000 positions added and the unemployment rate holding steady at 4.1 percent. November was the 86th consecutive month of job growth, and the gains were above experts’ expectations....

In addition to rapidly rising prices, one item that is sometimes overlooked is the lack of available inventory.  Well, now there is a prediction that this crunch will soon ease.  Interested? Read on! More housing supply is expected to hit the market by next fall, though the inventory of starter homes will be slower to improve. The U.S. median home sales price is projected to increase by 3.2 percent in 2018, down from 5.5 percent this year. Home prices in the are projected to increase by a respective 5.14 percent and 4.37 percent in the San Francisco and San Jose metropolitan areas.   More homes should hit the market next year, causing appreciation to slow, although price growth in the...

Well, we've said it before and we'll now say it again! Improved employment helps improve the housing market.  The reasons are simple--if someone's working, they're far more likely to be in the market to purchase a home than if they're not.  Further, if the employment market is rising, it's more likely that people will have better higher paying jobs and can thus purchase a higher priced residence. Read on for more information. As highlighted at Pacific Union’s Real Estate and Economic Forecast to 2020 last week, job creation has been a primary driver of Bay Area housing market trends. In October, the Golden State’s solid jobs gain continued with 31,700 jobs added according to the latest...