California Realtors Predicting a Rosier 2025 for Local Home Sales

Posted on October 29th, 2024 in Uncategorized | No Comments »

The California Association of Realtors (C.A.R.) forecasts a more favorable interest rate environment in 2025, easing the "lock-in" effect and improving housing inventory. Existing single-family home sales are expected to rise by 10.5% to 304,400 units, with median home prices increasing by 4.6% to $909,400. Lower borrowing costs and increased listings will attract buyers and sellers, particularly first-time buyers. While inventory is projected to improve, demand will also rise, keeping the market competitive despite a modest slowdown in price growth.

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Planning to Buy a Home This Fall? Expert Tips Inside! | A Real Estate Professional serving Silicon Valley since 1993

Posted on October 28th, 2024 in Uncategorized | No Comments »

House prices may be higher in fall due to elevated summer closing values.
Less competition in fall can be advantageous, but serious buyers are still active.

Bay Area Housing Market Predictions 2030

Posted on October 26th, 2024 in Uncategorized | No Comments »

Predictions for the Bay Area housing market by 2030 indicate soaring home prices, potentially reaching between $2 million and $2.6 million. A chronic shortage of available homes is driving intense competition and bidding wars. The tech industry's growth and the rise of remote work are reshaping living preferences, with more residents moving to suburban areas. Rising interest rates may further complicate affordability, making homeownership challenging for many. Investors are keenly observing opportunities in this evolving landscape, particularly for sustainable housing options.

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Will California Be a Buyer’s or Seller’s Market by End-2024? | A Real Estate Professional serving Silicon Valley since 1993

Posted on October 25th, 2024 in Uncategorized | No Comments »

California home sales dropped to an annualized rate of 262,050, a 6.3% decrease from July.
Median home prices reached $888,740, showing a 0.2% increase from the previous month.

Benefits of 2024 Fall and Winter for California Homebuyers | A Real Estate Professional serving Silicon Valley since 1993

Posted on October 14th, 2024 in Uncategorized | No Comments »

Autumn sees determined sellers open to negotiations, accepting lower prices in September through November.
In winter, housing prices drop and reduced competition helps you find negotiable deals on your dream home.

‘Like being in a firefight’: Los Gatos property owners feel the heat of rising insurance rates

Posted on October 12th, 2024 in Uncategorized | No Comments »

Residents in Los Gatos face uncertainty over wildfire insurance as major insurers like State Farm plan to non-renew thousands of policies due to rising risks and regulatory constraints. Homeowners are increasingly turning to the pricier California FAIR plan for coverage. The situation stems from Proposition 103, which limits rate increases, creating challenges for insurers amid climate change. Local efforts to mitigate fire risks include community brush-clearing initiatives, with hopes that these proactive measures will attract traditional insurers back to the market.

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California: Expensive Living With Endless Opportunities | A Real Estate Professional serving Silicon Valley since 1993

Posted on October 7th, 2024 in Uncategorized | No Comments »

California is the most populous US state, with 68% of residents living in coastal areas.
California’s cost of living is high, with a median home value of $573,200 and rent of $2,950.

California, Poised for Growth or Crash? | A Real Estate Professional serving Silicon Valley since 1993

Posted on September 30th, 2024 in Uncategorized | No Comments »

Despite recent stagnation, the market shows potential for growth, especially if interest rates drop.Limited supply and high demand continue to drive prices, reducing the likelihood of a crash.

New affordable housing complex coming to South Bay

Posted on September 28th, 2024 in Uncategorized | No Comments »

An affordable housing complex, Union Tower, is under construction in National City at 2312 F Avenue. It will consist of 94 units, including 45 one-bedrooms, 24 two-bedrooms, and 24 three-bedrooms, plus one manager’s unit. The County of San Diego has invested over $314 million in affordable housing since 2017. Veterans will have priority for 24 apartments, with support services provided. The project, located near public transit and shopping, is expected to be completed by spring 2027, with tenant interest applications opening next summer.

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California Aims for 2.5M New Units by 2031 | A Real Estate Professional serving Silicon Valley since 1993

Posted on September 23rd, 2024 in Uncategorized | No Comments »

Critical shortage exacerbates economic, social issues: Particularly severe for lower-income families in urban areas.Rising costs hinder construction: Inflation, interest rates, and red tape drive up prices, especially for low-income housing.