Though U.S. homebuilder confidence was down in April, sentiment rose 2 points in May to the second-highest level since the recession. Standing at 70 now, homebuilder sentiment is up 12 points on a year-over-year basis. Mortgage applications have not caught up to these increases. In April, mortgage applications for new homes fell 4.3%.This drop marks the first drop for the year. Analysts are hopeful mortgage application rates will support homebuilder sentiment growth next moth. Another trend that shows positive signs for the real estate market is the amount of money first-time home buyers are spending on renovations. Millennials may be waiting longer to buy, but they are putting more investment into their home. First-time homebuyers spent $33,800…
As predicted, this spring is shaping up to be one of the hottest real estate seasons in years. Inventory remains tight around the Bay Area, causing homes to sell faster than ever. This tight home supply also continues to drive up home prices in the Bay. Prices were recorded to be 11.4% higher across the Bay Area compared to last year. Because of this, many are calling our current market a “seller’s market,” rightly so. Some Bay Area city homes are averaging 13 days on market. Even so, with mortgage rates at 2017 lows, many are jumping on the opportunity to buy right now. Redfin, a web-based real estate database, even ranked three Bay Area cities as the top three most competitive markets across the nation. Bay Area home sales started off slow in…
The current real estate trends haven’t changed much in the last year. As expected, mortgage rates are up. Though they were stagnant for a little while, they have jumped in recent weeks. They have returned to a calendar year high of 4.21 percent. Rates aren’t expected to stop here. The likelihood of a hike by the end of this month is now over 90 percent. Turning to sales, the pace of sales has been slipping throughout the West, but is currently 16.2 percent higher than the same time last year. Low inventory, high prices and increased mortgage rates continue to be the reason behind the decline in sales across the Bay Area. Even so, prices continue to inch up. The latest numbers show the median price of a home in the Bay Area is up 3.8 percent year over…
Needing to downsize?
You're invited to our Transitions Forum!
Sometimes life takes unexpected turns and you or a loved one may find yourselves with too much living space... Downsizing is the answer! On Thursday, April 20th, Marshall Realty is hosting an informative seminar to increase your understanding on how to downsize. Our team of specialists will be conducting brief sessions to inform you on the following items:
- Will preparation
- 2017 tax laws
- Advanced Directive creation
- Estate preparation and sale
- Moving logistics
Don't miss this opportunity to learn how to make the transitions process a smooth and effortless one.
April 20 | 6:00pm
El Rancho Hotel, Millbrae, CA
The US housing market continues to overpower seasonal trends. Despite normal declining trends typically seen throughout the winter months, the US real estate market has hit record highs. The increasing labor market is one of the top reasons behind these unusual trends. The low interest rates have also had a large impact on the current housing trends. These low interest rates have seen a lot of changes recently. Though still low, mortgage rates recently hit a two-year high. The average rate for a benchmark 30-year mortgage was last recorded at 4.13 percent, and continues to grow. Many predict more hikes as we head into the new calendar year. The effects of the winter months and the high prices have lead to a decline in Bay Area home sales. Home sales…
Across the nation, the real estate market is pushing past seasonal declines and has been able to stay strong. The sales of existing homes rose 3.2% from August, putting the rates higher than they have been since June. This rebound of home sales may be due to the expected jump in mortgage rates. Currently, mortgage rates are still at record lows, though they have started to inch up. With the probability of seeing a hike in rates by the end of the year up to 74%, there may be no better time to buy than now. The Bay Area seems to be having varying trends, but all numbers seem to be above last year’s numbers. Rents are still up along with median sale price of homes. More specifically in the San Mateo County, the median sale price of homes has increased…
Seasonal shifts are being seen in the Bay Area housing market. Bay Area home sales have seen declines of 11.6% in the last month. This drop in home sales has lead to a drop in median home prices. Bay Area home prices, though up almost 5% from last year, have dropped 3.7% on a month to month basis. This drop in home sales is due to both seasonal declines and high median home prices. As the summer comes to and end, it is common to see this shift in home sales. Bay Area home prices have been on the rise for years, but prices are so high that people are looking to move out of the Bay Area. Contrary to Bay Area trends, San Mateo home sales are up. The San Mateo County has been able to continue to grow against seasonal norms. Unlike most cities in the Bay…
Looking for guidance as you transition into the next phase of your life? Thinking about downsizing into a cozier, more affordable home? If so, join us on September 21st in the San Mateo Library (Laurel Room) from 5:00pm-6:30pm for a Transitions Forum, led by Angie DiSanto.
At the forum, Angie will discuss:
- The common challenges of transitioning and how to overcome them.
- Demonstrate the benefits and ease of downsizing into a smaller home.
- Personal question and answer session for any questions you have regarding transitioning/downsizing.
For any further questions, contact Angie directly by phone, 650-619-9676, or by email, email@example.com. We hope to see you there!
The ever-changing housing market continues to keep us on our feet. The median house price of a Bay Area home is now up to $712,000. Though home prices around the Bay continue to rise, we are seeing a decline in year-over-year home sales. Inventory, rent prices and timing all affect home sales. Bay Area inventory is slightly up from last year, but even with new construction, low inventory is taking a major toll on the market. Looking specifically at San Mateo, new apartments are popping up around the county, but new housing is harder to find. Residence continue to rent because they can not find a house. With rising rent, those who are in an apartment don’t have the money to save up in order to make the transition into a house. Timing is also crucial…