Saturday, June 5, 2021

The May 2021 California Housing Sentiment Index

 The May 2021 California Housing Sentiment Index:























Please click on image to see larger.

Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

New on the market:  Wonderful updated charmer near downtown Palo Alto: www.766University.com
2B. 2 Ba - 1,300 sq.ft. - $1,449 million.
 
  




Sunday, March 28, 2021

How Was 2020 In Real Estate?

 How was 2020 in Real Estate?

Well, one graph says it all.  A lack of inventory shaped the landscape last year, pretty much everywhere.  And the current trends continue upwards as of March 2021.








Click on the graph to see larger.
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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

New on the market:  Stunning Loft near downtown San Jose - 350 E. Mission St. #111



Friday, February 5, 2021

Young Adults Living at Home Are Saving for Down Payment

Young Adults Living at Home Are Saving for Down Payment.

One of the biggest barriers to homeownership for first-time home buyers has been saving for a down payment. But young adults who moved back home during the pandemic—and kept a job—are finding that homeownership may be within reach, according to a new report from realtor.com®.


Realtor.com® analysis shows home ownership may be within reach for young people able to channel would-be rent into savings
-- Based on U.S. median one-bedroom rent, it would take 11 months to save for a 5% down payment for the median priced home in the U.S.
-- Eleven months of rent savings is enough to accumulate a 5% down payment for a $327,000 home in Chicago
-- It takes the longest -- nearly 22 months of rent savings -- to save for a 5% down payment for a median priced home in Los Angeles.

Check out the article on this link.

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?



Pending:
fabulous 1 Bedroom for sale in Mt View - Los Altos Schools - www.49ShowersA238.com 

Saturday, January 30, 2021

The Most Commonly Delayed Home Repairs

 The most commonly delayed home repairs

Source: Sears Home Services
Seventy percent of homeowners of about 1,000 recently surveyed say they have delayed home repairs since the start of the COVID-19 pandemic, according to a new report from Sears Home Services. Some consider those home repairs “critical,” too. Furthermore, nearly 60 percent of homeowners surveyed say they felt it’s acceptable to put off critical home repairs in the pandemic.

Many homeowners may be delaying home repairs due to their finances, the survey finds. Homeowners under financial stress are the most likely to report postponing repairs to broken appliances (34%), water damage (31%), electrical issues (30%), and roof repairs (29%), according to the survey. These postponed repairs, however, could result in pricier fixes later on or even dangers.

 


To see the whole report click here.

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?


Fabulous 1 Bedroom for sale in Mt View - Los Altos Schools - www.49ShowersA238.com 

Friday, January 1, 2021

Fierce Competition Continues in California Housing Market

 Fierce Competition Continues in CA Housing Market 

The California housing market is red hot as the year comes to an end. The state has already recovered all the sales it lost in the first half of the year as insatiable housing demand in recent months has propelled sales to levels not seen in the past 15 years. Sales of existing single-family homes surpassed the 500,000 benchmark for the first time since January 2009, while year-to-date sales through November exceeded last year’s level for the first time since March and recorded an increase of 1.3 percent from 2019.    


On the supply side, levels of for-sale properties remained extremely low, with active listings declining 18 percent in November 2020 from the prior month and 46.6 percent from a year ago. The unsold inventory index, in fact, reached the lowest level in over 16 years. The surge in Coronavirus cases since late October likely played a role in the biggerthan-normal drop in active listings this year as many homeowners have been reluctant to put their house up on the market because of public health concerns.  

Click to see the full Jan.1 report.

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?


Fabulous 1 Bedroom for sale in Mt View - Los Altos Schools - www.49ShowersA238.com 

Friday, December 18, 2020

California: November Real Estate Situation

The lowdown for California Source: CALIFORNIA ASSN. OF REALTORS®

Defying an otherwise struggling economy, California home sales remained red hot in November, breaking the 500,000 sales benchmark for the first time since January 2009 and reaching the highest level in 15 years, the California Association of Realtors® said.

November sales rose 5.0 percent from 484,510 in October to 508,820 units and were up 26.3 percent from a year ago, when 402,880 homes were sold on an annualized basis. The year-over-year, double-digit sales gain was the fourth consecutive and the largest yearly gain since May 2009.      

“Home-buying interest is at levels that we have not seen for years, setting the stage for a stronger-than-expected comeback that fully recovered all the sales that the market lost in the first half of the year due to the pandemic,” said 2021 C.A.R. President Dave Walsh, vice president and manager of the Compass San Jose office. “Housing supply remains an issue, however, as we will likely to see a shortage of homes for sale in the near term, which will put upward pressure on prices and dampen affordability for those who haven’t been able to take advantage of low rates.” 

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?


Fabulous 1 Bedroom for sale in Mt View - Los Altos Schools - www.49ShowersA238.com 


Friday, December 4, 2020

California Prop 19 At A Glance

This article and update from our own Kelly Vincelette, at Cornerstone Title.

California Prop 19
Should you rely on Prop.19 for your own real estate transaction, be sure to double check your own tax situation and talk to a qualified real estate and tax attorney.  

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?

Saturday, November 21, 2020

Probate Versus Living Trust: How You Hold Title Makes a Difference

This article from our own Kelly Vincelette, at Cornerstone Title.

 

The way in which people hold title to a property can have significant legal and tax implications,

including whether the property must go through probate upon death and what taxes the heirs must pay when they sell it.
 
According to some attorneys, one of the best ways to hold title to homes and other real property, is in a revocable living trust, which offers the advantage of avoiding probate costs and delays. All that is involved is the cost of creating such a trust, and deeding the property into it.
 
Until the death or disability of the trust creator, the home and other real estate in the living trust, plus any stocks, bonds, bank accounts, automobiles or other major assets held in the living trust, may be bought, sold and financed at the creator’s discretion.
 
If the trustor becomes incapacitated, the named alternate trustor (such as a spouse or adult child) takes over management of the trust assets. When the trustor dies, the assets are distributed according to the trust's terms.

 Privacy is also an advantage. Unlike a will, which becomes part of the public probate file, the living trust terms remain private. Court challenges of living trusts are virtually impossible, whereas wills are frequently challenged by disappointed relatives.
 
There are other customary ways to hold title, such as:

-          Sole ownership - You hold the title in your name alone.

-          Tenancy in common - This means two people own the property together, but upon the death of one, the interest of the descendent is distributed according to a will – or if there is no will, according to state law.

-          Joint tenancy - This is a commonly used option, which means two people own the property together. If one dies, the other gets it without the property passing through probate.

 People should always evaluate which form of title is right for their situation with a California qualified real estate attorney.

Original article from Barbara Pronin, author at RISMedia.

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Francis

Silicon Valley real estate
Trends: Local prices and graphs.
How much is your home worth?