One of the primary questions? How are the kids going to be able to buy a home? If prices just stay at this level, it will be near impossible for local kids to save the down payment and afford the monthly nut when starter homes are selling for around $1,200,000. Plus,...
We are in the midst of a real housing crisis. The rapidly-increasing home prices are exacerbating the problem too - especially for existing homeowners who had hoped to move up. If you paid $500,000 for your house and now it's worth $1,000,000, you need to spend...
For months the talking heads have cited the ultra-low rates, the shortage of new homes being built, stock market, millennials, covid, etc. as reasons why the real estate market has exploded. Let's add a few no-so-obvious reasons. Did we fully recover from the last...
The U-T asked their twelve real estate experts about the effects of Prop 19: Q: Will Prop. 19 substantially increase home inventory in California? Of the local experts, 11 out of 12 said NO, and the justification for the one YES answer could have been just as easily...
The boomer sales spree is inevitable, it's just a matter of when. But if it's a slow methodical process over the next two decades, will we even notice? Let's say the 100,112 homes turn over in the next 25 years (and only 1/3 are inherited by the kids), we'd average...
My friend Ken Perlman at JBREC consults with new-home builders primarily, but these thoughts apply to the resale market too - notably, the 65+ generation growing by 17 million people in the next ten years! With the national housing market surging, active adults have...
Who is selling? The chart below tracks when the home was purchased by the sellers. Today’s numbers are from those sales closed between Aug 21-31 of this year: Year Purchased 12/13/16 4/3/17 6/30/17 12/4/17 2/16/20 9/28/20 0 – 2003 57% 48% 32% 47% 34% 29% 2004 – 2008...
I wonder if the rest of America looks at the homes in the bottom half of this photo above and correctly guesses that they are selling in the mid-millions.....Excerpts from article linked at bottom (hat tip Ray!): Would-be home sellers have numerous reasons for staying...
Proposition 19 is on the ballot, and the California Association of Realtors wants you to believe that if it passes, there will be a surge of new inventory from seniors finally being able to sell their homes and take their ultra-low property-tax basis with them to a...
The turnover and upgrading of neighborhoods is commonly called gentrification, and what it means around here is that the affluent buyers (many, if not most, from outside the county) take over the real estate market, one house at a time. Their money does the talking -...
