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National Real Estate News: A Few Myths Sellers Believe About Pricing Their Home

Often home sellers fall prey to myths that don't always match the reality of the housing market. Here are a few that Realtor.com highlighted about home pricing. You don't always make money on the sale of a home: Sellers' profits greatly depend on their location and how much they paid for the home when they purchased it. The National Association of Realtors reports that 23 markets have seen the cost of homes decrease in recent months and we shouldn't forget the huge market dec

National Real Estate News: Current Design Trends

Styles change from year to year and this year is no exception. Take a look at some current decor trends for 2017....... Monochrome Spaces: Although I still love color, muted pastels and monochrome palettes are all the rage. Walls, trim, ceilings and furniture create a unified look New Modern: Clean, minimal aesthetic with curved lines and mixed materials. Transparent Furniture: Colored or transparent glass or acrylic help keep a small space from feeling boxed in. It also adds

National Real Estate News: Freddie Mac Offers Alternative to a Traditional Appraisal!

Freddie Mac has announced a new program allowing some home buyers to skip a traditional appraisal, which could lower the fees the buyers pay and speed up the closing process.It's an automated system ( ACE) that will determine a property’s collateral risk by puling data from multiple listing services, public records, and historical home values, and then assess whether a buyer needs a traditional appraisal or an automated one. Borrowers who are refinancing may also be eligible

National Real Estate News: 10 Cities Where Homes are Getting Cheaper!

Not every market is like our California market! In some cities, buyers have actually seen prices drop in recent months. Though the national median price for an existing single-family home reached a record high in the second quarter, a handful of metros saw the local median price decrease from a year ago, according to the National Association of REALTORS®. The 10 metros to post the largest year-over-year declines in median home prices are: 1. Springfield, Illinois Year-over-ye

National Real Estate News: Homeownership Rate Rebounds from 50-Year Low!

I try and stay up to date on real estate news both locally and nationally but often the news can be contradictory and things seem to change from week to week. Right now the good news is that home ownership rates are on the rise again in the US. On the other hand, the bad news is homes are less affordable and it's becoming more difficult for first time buyers to enter the market. An added challenge on the Peninsula is that the rental market is extremely tight and prices contin

National Real Estate News: What's Hot and What's Not!

When remodeling your home, it's always good to check up on current trends and find out what is popular and what is not. If you are keeping your home for the long haul, classic and neutral can usually stand the test of time. If you are planning on selling in the next year to 18 months, appeal to a broad audience, keep it fresh and don't overspend! Here are some of the latest trends according to Home Innovation’s 2017 Builder Practices Survey. Crazy for quartz. Despite being

National Real Estate News: Sellers Net Highest Profit in a Decade!

Good news for the market! Based on an article in Realtor Magazine, home sellers in the second quarter of this year sold their properties for an average $51,000 more than they paid for them when they bought them. That’s the highest price gain for sellers since the second quarter of 2007, when it was $57,000, according to a new report by real estate data form ATTOM Data Solutions. This represents an average return on investment of 26 percent. The sellers had owned their homes a

National Real Estate News: Walkable Areas Are Getting More Competition!

MLS gives each property a walk score rating so the closer you are to town, the higher the rating. Urban living is not for everyone but many people love the idea of being close to shops, restaurants and activities in their local town. Millenials and Generation X'ers love the convenience and vibrancy that urban living provides but apparently, seniors are looking for the same thing. Being close to shops and the ability to stroll down town to pick up some groceries at the local m

National Real Estate News: Foreign U.S. Home Sales Shatter Records

Here's an article from Realtor Magazine that talks about foreign buyers in the US market....

National Real Estate News: Seller Optimism Reaches a Record High!

Good news for the real estate market. Seller optimism rises!

National Real Estate News: The Difference Between Online Estimates and Comparative Market Analysis

Understand the difference between an online estimate and the an analysis created by a real estate professional

National Real Estate News: Owners Most at Risk of Home Improvement Scams

It's always good to get a referral when you are looking for a contractor or vendor and using the tips below will help you make the right decision. I welcome feedback on the vendors that I recommend because things change and I want to make sure my referrals meet your expectations. Read on.... Home improvement projects present the biggest opportunity for scammers to take advantage of homeowners, according to the Better Business Bureau’s Risk Index. Victims of home improvement s

National Real Estate News: Teardowns Account for More New Homes!

Vacant land is a scarce commodity and we have a lot of homes that are 60 years and older. Tear downs are a new reality as buyers try and cre

National Real Estate News: Fed Rate Went Up 1/4 Point but Mortgage Rates are Still Dropping!

Last September we were all concerned about the consequences of the first interest rate hike in years. The Fed was predicting 4 rate hikes in 2017 so we all had questions.... What would the hikes do to the refinance and purchase market? How high would the rates go? Well.......it's been 9 months and rates are still below 4%. The Fed just raised the interest rate this week so we'll probably see some slow movement up but....It's still a great time to finance your home. Take a lo

National Real Estate News: Utilities Add 25% to Homeownership Costs!

Every month we tentatively open our utility bills and hope for the best. Coastal summers are cool so we don't have to worry about air conditioners and our heat only comes on periodically in the early mornings. We're pretty lucky in that respect! Our highest utility cost comes from water. We have set days for watering and tiered rates for usage and during the summer months, we need to be careful about our water consumption. The article talks about utility cost as a percentage

National Real Estate News: Investor’s Wish List: More Student Housing!

For those of you with college aged kids, housing can be a huge part of their annual expenses. I was shocked to find that my niece was paying $750 per month to share a room with 3 roommates in Isla Vista near Santa Barbara. There were 12 girls sharing the house. That's a lot of rental income for the landlord and although some might not want to deal with student renters, many see this market as a lucrative investment opportunity. The only issue is, they need more inventory. Re

National Real Estate News: Smart Homes Are No Longer a Futuristic Concept!

With driver-less cars in the news, Roomba sweeping floors and Alexa acting as your household assistant..

National Real Estate News: 5 States With Highest, Lowest Cost of Living!

Here is some interesting information about cost of living rates in the US. No surprise to any of us......California ranks in the top tier. You'll also notice that the entire state is mentioned and not just individual cities! We live in a great state but we pay the price for housing, goods and services! Read on...... Just how widely can the cost of living vary from state to state? Financial website GoBankingRates.com culled 2016 data from the Missouri Economic Research and Inf

National Real Estate News: Globally, the US is a Deal in Luxury Housing!

Based on the real estate frenzy that the Bay Area has experienced over the past few years, you might be surprised to know that the US luxury home market looks like a bargain compared to other countries in the world. Los Angeles, San Francisco, New York and Miami top the list of US cities but their percentages dwarf those of China and Canada . Read on..... Luxury real estate buyers may find bargains in the U.S. compared to the rest of the world. The U.S. is hardly the most exp

Local Market Update: Inventory climbs steadily, 4% ahead of 2016!

Happy Cinco De Mayo! Do you know the origin of this day? According to Wikipedia, the date is observed to commemorate the Mexican Army's unlikely victory over French forces at the Battle of Puebla on May 5, 1862, under the leadership of General Ignacio Zaragoza. In the U.S. the date has become associated with the celebration of Mexican-American culture. In Mexico, the commemoration of the battle continues to be mostly ceremonial, such as through military parades. MARKET STAT

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