Tag Archives: housing market

What the Housing Market and Life Have in Common: Change is Inevitable

030316housing_1280x720

The lack of mobility in the current market is on everyone’s mind.  Why are inventories so low? Why are homeowners reluctant to sell? Why, when the Bay Area is rich with jobs, can’t these workers find homes to live in? There’s a lot of reasons, and the latest California Association of Realtors collection of polls have a few answers, and some good news.

  • 52 % of homeowners think it is a good time to sell..
  • 48% of renters plan to buy a home in the future
  • 10% want to buy in the next year
  • 95% see advantages in home ownership
  • Mortgage rates are still low (Week ending 6/2/2016):
    • 30-yr. fixed: 3.66% fees/points: 0.5%
    • 15-yr. fixed: 2.92% fees/points: 0.5%

All good news, and, anecdotally, I’ve noticed that local prices seem to be stabilizing. To Sum Up:
Home sellers think it’s a great time to sell, most renters are planning to buy, rents, locally, are climbing, and everyone agrees it’s a great idea to own your own home.

So what’s going on? Well there’s a couple things.  First, the majority of homeowners age 55+ are very satisfied with their homes.  Many have decided to “age in place” which takes their homes off the potential market.

Second, Millennials, the most likely first time home buyers, are often not able to buy. Student loan debt and lack of “good” jobs, ones that are full time and pay a living wage, get in the way of their dreams of home ownership.

But, as we all know, life is all about change.  The home that felt comfortable at 55 might eventually seem too big when just one or two of you are trying to maintain a home built for five. Time to SELL!

Innovative new businesses and ways of acquiring seed money to develop fresh ideas, (like GoFundMe) has helped turn some of the 39% of kids still living with their parents into entrepreneurs and potential home buyers.

There are so many ways life can be, so when change happens for you, and you need an agent, REMEMBER:

If you’re looking to buy or sell an East Bay home, I can help you from both sides of the table. Locally, I can help you buy or sell your East Bay home. If you’re moving to another area, I can refer you to a trustworthy Coldwell Banker agent wherever you want or need to go in the US or the world. Coldwell Banker is an international real estate company.

So call me.  I’m easy to get a hold of.  As so many of us do, I carry my office with me wherever I go, so phone or text 510-418-1306  and you’ll probably reach me. I’m never too busy to take care of you– or your referrals–and I’ll make sure you’re glad you called.

Get to know me! Check me out on facebook or linkedIn.

If you want to get a feel for what’s going on in the East Bay Real Estate market check out my My Web Site to discover homes on the market–neighborhood by neighborhood–almost as soon as they’re posted on the MLS!

Chris Neddersen
“Let’s Get Moving!”

Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley

How “Sentimental” are YOU about the Housing Market?

business sentiment

Today I read an article about Fannie Mae’s Home Purchase Sentiment Index (HPSI), expecting to see an emoji with some kind of home and heart combo, but when I searched the very closest I came was the image you see above.

So what, I asked myself, is the definition of “Market Sentiment”?  It’s pretty much what I thought it would be:  how people feel about the market in question. For example, people feel good about a thriving “bull” market, and bad about a diving “bear” market.

Like you’d expect, right? So Fannie Mae’s HPSI tracks how people feel about the housing market, and here’s a taste of the results:

  • The HPSI Good Time to Sell component increased 13 points due to strong housing prices
  • the Good Time to Buy component increased 3 points due to high rental costs.
  • Consumers’ confidence in their employment and financial situations climbed 2 and 3 points, respectively, further suggesting a possible firmer footing for housing.

In short, if you’re thinking of selling,  I suggest you make your decision quickly to catch those more confident consumers.  If you’re interested in buying, it looks like more people are more likely to put their homes on the market based on Fannie Mae’s HPSI.

In any case, a call to Your’s Truly is in order! My sentiments are quite positive regarding all my clients, and I’m pretty sure you’ll feel the same towards me at the conclusion of our successful real estate deal.

I’m easy to contact.  As so many of us do, I carry my office with me wherever I go, so phone 510-527-0174.  and you’ll probably reach me. I’m never too busy to take care of you– or your referrals–and I’ll make sure you’re glad you called.

Get to know me! Check me out on facebook, linkedIn or see my other online presences. I have two sites made just for you.If you want to get a feel for what’s going on in the East Bay Real Estate market check out my My New Site to discover homes on the market–neighborhood by neighborhood–almost as soon as they’re posted on the MLS!

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.

Whatever your real estate need,  I’m happy to help!

Chris Neddersen
Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley

Financial Friday: SELLERS, The Ball is in YOUR COURT

I discovered a chart that makes Wednesday’s blog a bit clearer.  The long and the short of it is:

East Bay Sellers, there’s a crying need for home inventory. 

The average price of a single family home increased 8.1 %, yet there are less of you offering your homes for sale.  Mortgage rates are also low, and there are plenty of buyers looking for a home.

There are, in short, plenty of reasons to sell besides the demand.

For example, If you want to downsize, or if you’re moving out of the area, or if you’re in charge of aging parents who can no longer care for themselves or their home, call me.  I’m eager to help you list and sell your property and get you moving towards a brand new chapter in your life.  Get to know me by checking me out on my facebook or linkedIn pages.

2014_November_Sales

I also have two sites I made just for you.

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.
If you’re interested in HIGH WALK SCORE HOMES click HERE.

Whatever your real estate need, I’m happy to help!

Chris_sig

Chris Neddersen,
Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley

 

Weird Wednesday: The Game of Real Estate

wwMonopoly

We love board games at our house, especially over the holidays, and Monopoly is one of our favorites.  It gets tricky, doesn’t it, especially when one player has a run of luck and keeps buying the good stuff. And will anyone else let go of their property so you can buy it? Not if the rents keep getting higher!

Sounds like the Bay Area real estate picture in a way.  More buyers than sellers out there, which creates higher-priced homes and more competition for buyers, who are often forced to rent, which means rents go up.

The good news is that the local market is indeed slowing down; except in San Francisco which remains high.  Here in the East Bay, were having slower price growth across a broad region.

Many experts say a little cooling off would do everyone some good if it gives more people time to get into a housing market that right now is too costly.

If you are interested in taking advantage of the cooling East Bay market by buying or selling a home in the Berkeley Area give me a call at 510-527-0174.  I’m never too busy to take care of you, or your referrals, and I’ll make sure you’ll be glad you called.

Please check me out on facebook, linkedIn or see my online presence. I have two sites I made just for you.

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.
If you’re interested in HIGH WALK SCORE HOMES click HERE.

Whatever your real estate need, I’m happy to help!

Chris_sig

Chris Neddersen,
Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley

Home Sellers: Do You Know. . ?

floorplan

  • Exactly where your property lines are?
  • New additions to your property, like fences, should be on record.
  • That exact square footage and floor plans are a boon to buyers
  • Tax records may not accurately reflect your home’s current status

I have a client who wants to sell her fourplex.  I went to look at the property, and sure enough, it looked like a fourplex to me:  one two unit building in the front and another two-unit building in the back.

Mysteriously, on the public record it shows up as two two bedroom homes on a single lot.  Now she has to get that mistake straightened out with the county so it can be legally sold as a fourplex.

There’s a lot of information and misinformation that can show up when you’re selling your home.  A good agent will help you straighten everything out so when your home finally does go on the market there won’t be any ugly surprises.

Here’s a great list of items–courtesy of Coldwell Banker–that most potential home sellers don’t even think about when they’re considering selling their home. 

If you have a home you’d like to sell, you can see that there are a lot of buyers out there that want your East Bay property.  Give me a call at 510-527-0174 and let’s talk about the best sales strategy for YOU.

If you’re interested in specific information from a local agent  (me) about buying or selling a home in the Berkeley Area, you can give me a call at 510-527-0174. Or check me out on facebook, linkedIn or online. I have two sites made for you.

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.
If you’re interested in WALK SCORE HOMES go Berkeley Area Neighborhoods

Whatever you need, I’m happy to help!

Chris_sig

Chris Neddersen,
Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley

 

Why is the Housing Market Hot in the Berkeley Area?

Hot-Real-Estate

  • First, I learn that Berkeley is #6 ranked in the 100 top cities in which to live. “The cities at the top of the list were often home to a major institution like a university, hospital or state capital,” says Matt Carmichael, Livability’s editor. “Institutions like that help these smaller cities compete in terms of sports, culture, jobs and entertainment.”
  • Second, I read that there are 300 ZIP codes–Berkeley’s are among them–in which 20 percent or more of the population is between the ages of 25 and 34 and have an associate degree or higher. Education is strongly linked to higher incomes and a greater probability of buying a home, thus these millennials are more likely to be future homebuyers.
  • Third I learned in this morning’s paper that there’s a surge in the Bay Area job market.  That means many people will get good jobs here, which means they’ll be needing homes here in the Berkeley Area.

In short, the Berkeley Housing market continues being HOT!

For up to the minute information about local real state, including my new listing on 1540 Blake Street in Berkeley (pictured above: two homes on one lot),  home sales and values, AND  free and cheap activites in the Berkeley and Bay Area, give me a call and/or keep reading this blog.

If you’re interested in specific information from a local agent about buying or selling a home in the Berkeley Area, you can give me a call at 510-527-0174. Or check me out on facebook, linkedIn or online. I have two sites made for you.

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.
If you’re interested in WALK SCORE HOMES go Berkeley Area Neighborhoods

Whatever you need, I’m happy to help!

“It’s Not A Seller’s Market Anymore”– True or False?

home sales

Perhaps. . .

According to this article from Redfin SEATTLE – Aug. 29, 2014: 

“Homebuyers who have been willing to wait for better deals will be rewarded for their patience as sellers drop listing prices to meet buyers’ more value-focused expectations.  A slowdown in home price growth and a shift in pricing power from sellers to a more balanced market combined to cause this change in housing activity as the market transitions from summer to the fall buying season.

For the first time in five months, price growth was flat in July across all 35 markets {SFBA is mentioned} included in the report. That shift has been nearly nine months in the making from when sales began to first decline last November. As a result of this shift, the number of homes that sold above list price in July is down nearly 7 percent to 20.1 percent from 26.8 percent a year ago, the biggest drop of the year. ”

In the San Francisco Bay Area the drop was 18 percent, so the local market is similarly effected. The article continues:

“The selling season started late this year as part of a first quarter slowdown in the overall pace of economic growth. The carryover homebuyer demand and supply from earlier this year set the stage for a surge in sales over the next two months that will be stronger than any other in the past five years.”

front

cottage front
cottage front

For up to the minute information about local real state, including my new listing on 1540 Blake Street in Berkeley (pictured above: two homes on one lot),  home sales and values, AND  free and cheap activites in the Berkeley and Bay Area, give me a call and/or keep reading this blog.

If you’re interested in specific information from a local agent about buying or selling a home in the Berkeley Area, you can give me a call at 510-527-0174. Or check me out on facebook, linkedIn or online. I have two sites made for you.

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.
If you’re interested in WALK SCORE HOMES go Berkeley Area Neighborhoods

Whatever you need, I’m happy to help!

Chris_sig

Chris Neddersen,
Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley

Streamline Your Home Search

Going to Realtor conferences we hear a lot about the “Internet Savvy Client”.  We’re told that most people search for homes, agents, and buying and selling advice on-line.  This is good news for us real estate agents because there is nothing we like better than well-informed clients.

Sometimes, however, the information clients get can be bogus.  For example, many of my current clients I acquired as a result of a bad home search  on Trulia and Zillow.  They see the home of their dreams and ask for more information. Their quiery is routed to me, and I look up the property on the MLS and discover: It’s ALREADY SOLD!

Fortunately, I have a solution to that problem.  It’s called MyREAlert. This home search program will make the process so much more efficient.  You define what you want (number of beds & baths, price, location, school districts, etc) and properties that match your search will show up in your inbox.

And, guess what: They’ll all be active on the market.

If you’re interested in streamlining YOUR home search, give me call.  And remember, there are no strings attached to this service.

How Do You Compare?

How Do You Compare?

For up to the minute information about local real state,  home sales and values, AND  free and cheap activites in the Berkeley and Bay Area, keep reading this blog.

If you’re interested in specific information from a local agent about buying or selling a home in the Berkeley Area, you can give me a call at 510-527-0174. Or check me out on facebook, linkedIn or online. I have two sites made for you.

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.
If you’re interested in WALK SCORE HOMES go Berkeley Area Neighborhoods

Whatever you need, I’m happy to help!

Chris_sig

Chris Neddersen,
Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley

Reasons to Celebrate in August

celebrate

I have a personal Cause Celeb in August–as it is my birth month–but more importantly it’s the beginning of the beginning of football season. The 49ers will be playing an exhibition game against the Ravens ( I KNOW, another Harbowl) on August 7th in Baltimore, and their brand new stadium in Santa Clara is fully operational and, I hear, pretty impressive.

Another reason for celebrating is more ecologically and financially oriented.  In the West County Times (August 6th, front page) is an article entitled “Want to go green, homeowners? Here’s a golden opportunity!

This opportunity is a very good one.  California First is offering you a chance to make your home more energy efficient by helping you finance the changes you need. The financing doesn’t rely on your credit rating and you need no mony down. You can get an affordable, long term loan that is repaid by being added onto your property taxes! The program went live this tuesday (August 5th) in 17 California counties.  See if one of them is yours and if it is, go green this August.

The housing market has something to celebrate as well. The NAR economist observed, “The good news is that price appreciation has decreased to its slowest pace since March 2012 behind much-needed increases in inventory.” He added, “With rents rising 4% annually, potential buyers are less likely to experience sticker shock.” Corroborating that, the S&P/Case Shiller 20-City Composite index showed prices up 9.3% year over year in May, down from April’s 10.8% year over year gain.  Analysts say the expanding inventory that’s slowing these price gains is a favorable trend, as it maintains affordability while increasing options for buyers.

For up to the minute information about local real state including  high walk score homes,  information about home sales and values, AND  free and cheap activites in the Berkeley Area, keep reading this blog.

If you’re interested in specific information about buying or selling a home in the Berkeley Area, you can give me a call at 510-527-0174. Or check me out online. I have two sites made for you.

If you’re a BUYER go to That House Detective
If you’re a SELLER go to What’s Next Homes.

Chris_sig

Chris Neddersen,
Broker Associate
CalBRE R01143189
Coldwell Banker in Berkeley