Bay Area housing market cools, but it’s still nuts – SF Chronicle

By: Kathleen Pender 

The Bay Area real estate market went into 2018 with a bang and out with a whimper.

In the first half of the year, the median price rose almost 17 percent to an all-time high of $875,000 in June. In the second half, it fell 10.3 percent from that peak, ending at $785,000 in December.

The December price was down 3.7 percent from November but up 4.6 percent from December 2017, according to a report Thursday from research firm CoreLogic. It includes all new and existing homes and condos in the nine Bay Area counties.

An earlier report from the California Association of Realtors — which includes only existing, single-family homes entered into a multiple listing service — said the Bay Area median price fell to $850,000 in December, down 6.1 percent from November and down 3.6 percent from December 2017. That was the first year-over-year drop since March 2012.

Any way you look at it, the market downshifted in the last three months of 2018. As the stock market plunged and mortgage rates rose a half percent to almost 5 percent, buyers backed off, inventory grew, price cuts surged, and price appreciation slowed from the double to single digits on a year-over-year basis.

The number of homes sold in December fell to 5,341 across all nine counties, down 13.2 percent from November and 21.6 percent from December 2017. That was the lowest sales count for a December in 11 years, CoreLogic said.

Many sellers, perhaps unaccustomed to a less-than-ridiculous market, took their homes off the market or let their listings expire. A total of 2,493 listings in the nine Bay Area counties were withdrawn or expired in December, compared with only 1,154 in December 2017 and 1,487 in December 2016, according to analyst Patrick Carlisle of the Compass real estate firm.

“December was rock bottom,” said Chad Eng, a Redfin agent in Silicon Valley. “Buyers are hesitating, on the sidelines. Sellers are still focusing on comps from six months ago.”

Instead of selling in days like they were earlier in the year, homes took weeks or even months to sell. Homes that closed in December had been on the market 29 days before getting into contract. That was up from 23 median days on market in November and 17 in December a year ago, the Realtors association reported.

Eng said things picked up around the middle of January, as the stock market recovered and mortgage rates fell back into the 4.5 percent range. “I wonder if it’s a sign of what we will see in the spring,” or just a normal seasonal rebound, he said.

Santa Clara County was the hottest market in the Bay Area — and most of the country — for the first part of the year as prices rose in the teens and 20s year over year. In February, its median price topped $1 million for the first time, rising to $1,080,000, up 27.8 percent.

That was the month a two-bedroom, one-bathroom, 848-square-foot home on Plymouth Street in Sunnyvale sold for $2 million cash — making headlines as the height of Silicon Valley insanity.

That was and still is a record price-per-square-foot for Sunnyvale, said Doug Larson, a Coldwell Banker agent, who represented the seller. “Now with the softening market, I doubt that anybody will beat it, at least for a while,” he said.

After hitting $1.15 million in June, Santa Clara’s median price has fallen to $1 million in December, exactly where it was a year ago.

January is always a slow month for the real estate market, as sellers recover from the holidays and get their homes spruced up for the busy spring season.

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“Homes that sell in the winter are typically homes that have been sitting on the market awhile and have to take a price cut,” said Redfin Chief Economist Daryl Fairweather.

Right now, “buyers are in a holding pattern,” she added. “They don’t know if this is as good as it’s going to get, if prices come down or more homes come on the market.”

She noted that a slower market is good for buyers because “they have more negotiating power” and for sellers who are moving up to a more expensive home because “overall they are going to be saving more money.”

Fairweather predicts that prices will end the year about where they are now. “I would be surprised if they go down,” she said.

Nancie Allen, president of Bay East Association of Realtors, said the government shutdown in January made it hard to tell where the market is headed. The next two weeks will be a better indicator. The market now “is all over the place,” she said. Some homes in Fremont have been sitting on the market for a while, while one had 15 offers.

Aaron Terrazas, a senior economist with Zillow, said his data show that home prices in the last quarter of 2018 rose at their slowest annual pace for any quarter since 2010.

He predicts that prices will appreciate 5 to 6 percent this year in the San Francisco metro area and 7 to 8 percent in the San Jose metro area, assuming interest rates stay low.

Kathleen Pender is a San Francisco Chronicle columnist. Email: kpender@sfchronicle.com Twitter: @kathpender

I read this article at: SF Chronicle

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

A Reflection of “What Lies Ahead for Our Real Estate Market”

The Caton Team wanted to take a moment and comment on the article we shared : What Lies Ahead for Our Real Estate Market

As full-time, professional Realtors – The Caton Team felt the market turn late in the 3rd Quarter of 2018.

Now – let’s just be honest here – anyone trying to buy in San Mateo County was reaching their wits ends.  Every seller and Realtor knew that the top was coming because it always does.  Real Estate is cyclical.  Year in and year out it goes up and down all year-long.  It often follows the weather and holidays.  However, Real Estate wealth is acquired through holding real estate long-term – and to be frank – not necessarily selling each home but leveraging each home.  Curious how that works – come in for a sit down.

What we wanted to address here was this – though the Market is cooling here in the Bay Area – and we may have hit our peek for this cycle in Spring 2018 – it doesn’t mean we’re crashing. It’s the one thing we can graph year over year, decade over decade.  Real Estate may fluctuate in price from week to week but over time it holds its value and appreciates.

So – what I hear when the “market is down” – IT’S TIME TO BUY!  My friends, a down markt is opportunity.  No offer dates, no mutiple offers – and if you and your Relator do your homework right – maybe under list price!

I just wanted to add this reflection becuase we need to see this in perspective.  A market adjustment is a chance to get in.

Curuious if buying or selling now is right for you – contact The Caton Team for a private and personal consultation.

Need some proof – The Caton Team hopped on the #10yearchallenge for Real Estate and in just the past 10 years you can see our local growth!  That’s why the old addage applies – Don’t Wait to Buy Real Estate – Buy Real Estate and WAIT!

Let The Caton Team help you – contact us any time – Call | Text 650.799.4333 | Email | Info@TheCatonTeam.com

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Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

 

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials | The Caton Team Blog – The Real Estate Beat | TheCatonTeam.com | Facebook | Instagram | HomeSnap | Pintrest | LinkedIN Sabrina | LinkedIN Susan

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Berkshire Hathaway HomeServices – Drysdale Properties

DRE # |Sabrina 01413526 | Susan 01238225 | Team 70000218 |Office 01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

Talk of the Town – The Bay Area Real Estate Market

A reflection by Sabrina Caton | Janurary 8, 2018

 

With all the talk about the Bay Area Housing Market – it’s hard to decipher the message.  Are we crashing?  Is the boom over?  Do I buy now?  Or wait?  What if I need to sell?  What should I do? 

There are great questions and as The Caton Team firmly believes, each client has a unique situation and set of needs – so what “they” should do is all relative.  That’s why we offer a free, no strings attached consultation to help determine what is best for you.  So please do not hesitate to reach out to us should you have any Real Estate questions.  Email: Info@TheCatonTeam.com

 

The Real Estate market, much like the stock market, is made up of people.  In Real Estate those people are Buyers and Sellers, Investors and Renters and the market is very much a mirror to what those people are thinking and doing.

Because the Real Estate market is made up of people, it changes as our habits do – often reflected as seasonal change.  I’ve been a full time Realtor for the past 15 years, Susan over 20, and if there is one thing we Realtors get used to — is the cyclical change of our market.  It is so steadfast, many check out during the slow months because they know, come Spring and Summer – that’s when the action happens.  But is this realistic?  To just buy and sell for two seasons?  NO – it’s not – because life happens everyday! 

People buy and sell homes for various reason – aside from the investment standpoint.  People buy a larger home when they find out their pregnant, or a couple gets married and combines their space and their assets.  People sell homes when they get a new job out of state, or the house they have is too big or too small for their current lifestyle.  My point is, people buy and sell homes for more reasons that I can state – and those events happen every day.  It’s part of life – so why do we over analysis and stress ourselves out with the cycle?  Why do we try to time the market when no one has a crystal ball?

Real Estate has always and will always be a long term investment.  Quick and high gains are unrealistic and truthfully – unstable.  Couple that with the rise in interest rates over 2018 that directly impacted each Buyers purchase power.  Throw in changes to the stock market and everyone is going to err on the side of  caution.  Which is wise.   So is investing in Real Estate – as a long term venture.  It is a solid investment – especially because we all need a place to live.  Making NOW a great time to buy, while prices are soft and demand is low.  Get in today – at today’s rates (under 5% last I checked) then hold onto your investment.  You’ll be happy you did – because over time – Real Estate value will always rise simply becuase they’re just not making land anymore. 

 

So what dictates price?  Buyers dictate price – even during the frenzy.  It is a Buyer who decides – ‘this is the house I want and this is how much I am willing to pay for it’.  Come Spring, said Buyer may have lost out on a few houses and slowly that Buyer becomes more aggressive in order to be the winning bid.  The frenzy is created by the same source who can tame it – the Buyer.  So come Summer, those Spring Buyers who lost out on home after home, start sweetening the pot and overbidding.  Whether a Buyer wants to overbid or not – write a few offers that get rejected and a Buyer will find out what it takes to become an Owner.  Each market is different and requires a different strategy.  Right now that Sellers market is in the past.  For the first time in ages – we’re in a Buyers Market.

Th moment I see Halloween candy on display, I know the slowdown is coming – change is near.

What gets me is – why are Buyers doing this to themselves when they don’t have to?  My personal business philosophy is – to be successful in Real Estate we have to think and act differently.  That means doing whatever it takes to have my clients home or offer stand out from the crowd.  To change it up and be the first to do so. 

Which brings me to today – January 2019.  The media is spewing a Real Estate crash when in reality – our hyper-paced market is simply – returning to normal – not crashing.  Normal. 

It wasn’t normal for homes to sell in less than one week.  It wasn’t normal for a Buyer to have one chance to see a home before an offer date pushed them to move faster.  It wasn’t normal for offers to line up after one open house.  It wasn’t normal and it wasn’t practical.

Today, for the first time in what feels like ages, we have inventory.  Meaning, there are several homes on the market, at several price points.  With lower demand, offer dates are no longer pressing the urgency to make a decision and Buyers have a bit more of that much needed time.  Remember, Real Estate is one of the largest investments in our lives – so it is important to take time and make the right decision.  This type of market allows for that.  Making the Winter Market a great time to buy!

 

The flip side – it may feel like the market is crashing if you’re selling your home this season.  What drives up prices is the volume of qualified Buyers wanting to buy versus the volume of homes for sale.  For the past several years we’ve had high demand and low volume – thus further escalating prices.  Each Fall people turn from houses to holidays and demand wanes. 

What is hard to consider – the $100,000 gains seen during the Spring Market isn’t going to happen if only one Buyer is on the house hunt during Winter.  So Sellers are seeing $100,000+ price reductions and feeling like the market is crashing from under them – when in reality it is just returning to normal.  In other words, demand has changed, and it doesn’t take an additional $100,000 to be the winning bid.  (Which always makes me wonder why Buyers don’t take the bull by the horns and change things up!  I’ve had the best success with my Buying clients over the Fall and Winter because they were the only people putting in the time!  Anyway – I digress.) 

For Sellers it is a hard transition.  When Realtors look at the market we cannot determine the future but we can map out the past.  Fall/Winter Sellers may have higher expectations because they are looking at Spring/Summer sales data that was indicative of that market – on that particular day and that day has passed.  Today is a whole new reality.  The Real Estate Market is a living, breathing entity.  Like the people in it – the market can turn on a dime without any notice.  So how does one navigate these uncharted waters?

Easy… be realistic, timely and see the big picture.  Each Seller is in a unique situation so the answer isn’t cut and dry.  I do believe in being in the “here and now”, being aware of the market change and adjusting the strategy.  Often times waiting out the market is not the best solution.  Sometimes it is.  Sometimes renting a home out is a bad idea when you consider wear and tear.  Though a great tenant is better than a vacant home that seems to age while alone. It’s a lot to weigh so it’s best to be open and flexible.  The Caton Team strives for the best result regardless of market conditions and happy to sit down and work through the challenges with you.

 

Bay Area Real Estate started to slowed down in September on ’18.  Buyers had grown tired with the insane pace of the Spring/Summer market and it showed.  Add the fire and smoke in the Fall, deterring many people from even venturing outside.  Each market is different.  Last year in 2017 – our 4th Quarter was one of the most robust ever!  2018 an entirely different story.  So how does one survive a changing market in 2019?  Move with it.

If you’re Buying you’ve seen homes sitting on the market, some have had price reductions some have not.  Don’t just sit there.  If you like a home contact your Realtor and have them contact the Sellers Realtor.  Communication is key in this business.  If you’re a serious Home Buyer – you need to get offline and in front of a Realtor.  We’re here to work with you and help you figure out these challenges.  Remember, Real Estate is not a twisting of the arm but a meeting of the minds.  Yes, Buyers determine price – but we can’t walk in with 1996 prices.  Offers need to be realistic and doable.  A Seller isn’t going to take an outlandish low offer just because – nor is a buyer going to overbid.  Real Estate is finding that middle ground where all parties can obtain their goals and walk away – happy.

If you’re selling – and don’t have the luxury of waiting till Spring to sell – get on the market now.  Move accordingly.  Make sure you are priced right – knowing there won’t be multiple offers driving up the value.  In Realtor lingo we say – don’t chase the market down.  Meaning, if the market is in flux, you don’t want to sit online forever, you’ve got to adjust with the times.  Markets move up and down from day to day, month to month, year over year.  The key to being successful is moving with that market and keeping in line with your goals and budget.  Don’t hold out for a price that doesn’t exist in the current market climate.  Review your goals and timeline, be open and honest with your Realtor about your needs and wants and work together to achieve the goal.  Flexibility is key. 

Each market is different, each neighborhood is different and each client is different.  I could go on and on but the bottom line is this – Buying and Selling Real Estate happens in real time.  Today.  The future is untold and the past is just a graph.  If you want to own a home, get out there and look – open your eyes to the possibilities.  If you need to sell your home, get the home show ready, price it right and work with your Realtor because together we can do anything. 

 

The Caton Team loves helping people obtain their Real Estate goals – contact us anytime with any questions – we’re here for you.

Thanks for reading!

-Sabrina

 

Got Real Estate Questions?   The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials

The Caton Team Blog – The Real Estate Beat

The Caton Team Website

The Caton Team Advantage

How to Buy While Selling Real Estate

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Visit us at:  Our Blog * TheCatonTeam.com * Facebook * Instagram * HomeSnap* Pintrest * LinkedIN Sabrina * LinkedIN Susan

Thanks for reading – Sabrina

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina DRE# 01413526 / Susan DRE #01238225 / Team DRE# 70000218/ Office DRE #01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

Large, Small Markets See Diverging Pricing Trends

A tale of two housing markets is unfolding nationwide, with homes in large cities seeing deep price cuts while those in smaller markets experience growth, according to realtor.com®’s November housing report. “The housing market is a ‘Tale of Two Cities’ as the divergence widens between high-cost, large urban areas and smaller, more affordable markets,” says realtor.com® Chief Economist Danielle Hale. “Buyers in large metros are seeing more homes on the market and listing prices decline, while those in smaller markets continued to see price increases.”

Twenty-two percent of listings nationwide saw price reductions last month, up from 19 percent a year ago, according to realtor.com©. Forty of the 45 largest markets in the country saw more price reductions in November, with the most in:

  • San Jose, Calif. (up 16 percent)
  • Indianapolis (up 15 percent)
  • Seattle (up 12 percent)
  • San Francisco (up 9 percent)
  • San Diego (up 9 percent).

On the other hand, several smaller markets saw home prices still rising last month. For example, prices were on the rise in markets like Chattanooga, Tenn. (up 17 percent); Spokane, Wash. (up 15 percent); and Greensboro-High Point, N.C. (up 14 percent).

https://magazine.realtor/sites/default/files/styles/asset_image_full_content/public/assets/images/1812_realtor.com-housing_Nov2018.png?itok=k8NjHtfG

 

I read this article at:  Reatlor Magazine

Got Questions – The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials

The Caton Team Blog – The Real Estate Beat

The Caton Team Website

The Caton Team Advantage

How to Buy While Selling Real Estate

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Visit us at:  Our Blog * TheCatonTeam.com * Facebook * Instagram * HomeSnap* Pintrest * LinkedIN Sabrina * LinkedIN Susan

Thanks for reading – Sabrina

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina DRE# 01413526 / Susan DRE #01238225 / Team DRE# 70000218/ Office DRE #01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

Don’t Let Mortgage Rates Throw You Off Course

Higher borrowing costs may prompt buyers and sellers to rethink their real estate plans, but you can help them find a workaround to achieve their goals.

by John N. Frank

For three months, Koki Adasi worked hard to help his buyer find the perfect one-bedroom condo on Capitol Hill in Washington, D.C. Finally, in the spring, the right listing emerged for $450,000, slightly above the buyer’s budget. Adasi, CRS, SRS, was able to negotiate a $20,000 discount on the price, and his client was prepared to move forward on her first home purchase—until she got a jolt from her lender.
Although the buyer, who works as a corporate senior manager, had been preapproved for a mortgage, interest rates had gone up one-eighth of a percentage point since she began her home search in early January. The new rates would have added $25 to her monthly mortgage payments—an extra $300 a year—which made her think twice about the purchase. Pushed to the edge of her financial comfort zone, Adasi’s client eventually walked away from the deal. “Many buyers have a certain lifestyle they want to preserve and a comfort zone set in their minds,” says Adasi, a team leader who recently moved to Compass Real Estate. “The issue [for this buyer] really wasn’t about money. She could afford a significantly higher price range, but she had a modest comfort zone that she wanted to stay in.”
As mortgage rates hover just below the 5 percent mark, ending an era of the lowest averages in modern U.S. history, some buyers, especially first-timers, are feeling the strain in their pocketbooks. The hikes also may convince would-be sellers to stay put and hold onto their current rates rather than move up to a higher-priced home with a costlier rate. In turn, that could further exacerbate tight inventory.
All of this means real estate professionals need to develop strategies for helping clients adjust their expectations so they can remain in the real estate game as the costs of buying rise. Qualified buyers might look into FHA loans and other mortgage products with lower rates and down payment requirements, says Tracy Anderson, a broker with Prime Real Estate in Hobart, Ind. But whatever advice you give, it’s important to communicate the need to make decisions quickly once a rate locks in. “The longer you wait, the more expensive it’s going to be,” says Brant Tullidge, a sales associate with RE/MAX Commonwealth in Richmond, Va.
Of course, speeding up the buying process to lock in rates may cause inconveniences for many of your clients. If your buyers are renters making the switch to homeownership, for example, see whether they can arrange a month-to-month or short-term lease while searching for homes, says Jeff Miller, co-founder of AE Home Group in Baltimore. It gives them more time while also encouraging faster decision-making.
It’s also smart to prep buyers early about negotiating their must-have list, says Jessica Murphy, a sales associate with Julia B. Fee Sotheby’s International Realty in Irvington, N.Y. You don’t want to spend precious time grappling with unrealistic expectations when daily movement in mortgage rates could price your client out of the market. Murphy talks with her buyers about location most of all, encouraging them to focus on areas farther outside New York to find cheaper homes that meet their criteria. The point is that the lower the sales price, the more clients can withstand upward pressure on mortgage rates. “And a longer commute translates into lower prices,” Murphy says.
Your buyers may well become sellers down the road, and no one can predict where mortgage rates will be at that point. Even if rates aren’t the biggest issue on their minds now, have your clients consider how future mortgage rates could impact their sale. With further hikes expected this year and beyond, buyers may want to choose a property they can envision staying put in for several years.
Though sellers may ask for a flexible closing timeline as they search for another home, closing quickly can help any buyer (or relocating seller) secure a lower mortgage rate, Tullidge says. He’s seen some lenders offer a lower rate for a 30-day versus a 60-day closing. Ultimately, you must move at a pace your clients are comfortable with, but don’t be afraid to give them a nudge when it’s in their best interest. “When it’s the right house, you’ve got to move,” Murphy says.

The old adage applies. Don’t Wait to Buy Real Estate – Buy Real Estate and Wait.

I read this article here: Realtor Magazine

Got Questions – The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the upmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials

The Caton Team Blog – The Real Estate Beat

The Caton Team Website

The Caton Team Advantage

How to Buy While Selling Real Estate

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Visit us at:  Our Blog * TheCatonTeam.com * Facebook *Yelp Us * My Yelp * Instagram * HomeSnap* Pintrest * LinkedIN Sabrina * LinkedIN Susan

Thanks for reading – Sabrina

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina DRE# 01413526 / Susan DRE #01238225 / Team DRE# 70000218/ Office DRE #01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

Time is of The Essence – what that means for Buyers & Sellers in the Bay Area this Fall

Hello readers!

If you follow my Instagram Account – then you may have caught my Market Update in Stories – I save them under Market Update Highlights  and repost to Facebook if you want to catch up on them.

Today’s topic was – Time if of The Essence.  I wanted to discuss this – especially in the Fall Market.

Literally, the term – Time is of the Essence – is IN THE PURCHASE CONTRACT.  For the California Association of Realtors California Purchase Contract it is line 29 and for the PRDS Purcahse Contract it is line 27 L, and in the San Francisco Purchase Agreement it is Line 32.  

Now, contractually – Time is of the Essence – it means we most honor the dates set forth in the contract – they are of material significance.  For instance, the date to close escrow – pretty important date.  As it is the day ownership is transferred by county record, monies are exchanged and keys handed over.

However, how does Time is of the Essence work outside of a written contract?  Well, it is that concept that I want to touch on today.

Time.  We all have the same amount of time in the day.  Though it may feel like some have all the time in the world while others are in a constant rush. 

So how does Time relate to Real Estate?  Critically I assure you.  For a Seller, time is measured from Day 1 on the market.  A Seller and prospective Buyers are all looking at Days on the Market (DOM) to gauge how popular or desirable a property is.  (Which isn’t the best way to gauge a home – by the way.) 

During the Fall Market, you’ll see homes on the market after the ticker hits day 15 – and NO – it doesn’t mean there is something wrong with the home.  Sometimes it is the homeowner or Relator, who want to make sure they have fully exposed the home to the open market before reviewing offers.  It make sense.  Sometimes, as it does each Fall, the Days on the Market are a direct influence of Buyers who’ve been outbid all Spring and Summer and taking a break before jumping into Real Estate one more time before the Holidays. 

But truly, where Time if of the Essence comes in at the upmost importance is for the Buyer.

Take a moment and step back in time with me.  Before the mad rush of demand over supply took over our Real Estate market, back in the day – when a Buyer saw a home, if they liked it, their Realtor would call the Seller’s Realtor and put a deal together.  During that time, a Realtor didn’t look to see what the offer date was – it was pure and simple.  One Realtor has an interested Buyer, one Realtor has an eager Seller, let’s find that middle ground where everybody’s wishes, hopes, dreams and desires come true.  Easy, plain and simple – right?

Guess what?  That market is now.  Yes – you heard me right.  The Fall Market is when the early bird gets the worm, when the proactive clients and Realtors make magic happen.

What I find funny about this opportunity is many people don’t understand how this works to their advantage.  (Trust me – I even see the surprised look in Realtors eyes when they hear – offers as they come – or offers reviewed at any time.)  What kills me – some people don’t understand what that means. 

IT MEANS OPPORTUNITY! 

If you like a home and no offer date is posted – tell your Relator (and if you don’t have a Realtor – tell me!)  It is the Buyer’s Reatlor’s job to contact the Seller’s Realtor.  How will a Seller’s Realtor even know there is an interested party if no one calls, texts, emails, or just plane shows up?  It only takes ONE Buyer to sell a home.  As awesome as multiple offers are for a Seller – the Seller can only sell the home to ONE Buyer.  Therefore, technically speaking – the Seller and their Realtor only need one, fair offer.  

How does this translate to a Buyer today?  DON’T WAIT!  Don’t ask for permission to write an offer.  Call your Realtor – Call The Caton Team – if no offer date is posted or planning to be posted – GO FOR IT.  Write the offer, write a good, clean, fair and solid offer.  Make sure your Realtor – like The Caton Team always does – prepares a Comparative Market Analysis (CMA) to strengthen the offer.  There is a reason Buyer’s and Seller’s Realtor’s are needed.  I’m talking about full-time, professional Realtors who live and breath the market.  Call us!!!!  We know what to do far better than any app!

In the past few weeks, when the media is reporting old news and generating fear in the consumer – The Caton Team was able to negotiate some wonderful opportunities for our clients because we were the only offer, because we didn’t go out and party on Saturday night, because we stayed up late to ensure every disclosure document was signed, that our offer was clear, concise and fair and if that meant presenting the offer at 10pm – so be it.  Because it takes a dedicated Realtor, who knows an opportunity when they see it, and an equally dedicated client to make dreams come true.

The Fall Market is RIPE with opportunity.  If you want to be a Bay Area Home Owner – If you have a budget – If you’ve been outbid all year – DO NOT GIVE UP!  Pick yourself up, dust yourself off and Call The Caton Team.

Yes We Can Make Your Real Estate Dreams Come True

 

Got Questions – The Caton Team is here to help.

We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!

The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the upmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.

A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials

The Real Estate Beat BLOG

The Caton Team Website

The Caton Team Advantage

How to Buy While Selling Real Estate

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Visit us at:  Our Blog * TheCatonTeam.com * Facebook *Yelp Us * My Yelp * Instagram * HomeSnap* Pintrest * LinkedIN Sabrina * LinkedIN Susan

Thanks for reading – Sabrina

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina DRE# 01413526 / Susan DRE #01238225 / Team DRE# 70000218/ Office DRE #01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.

 

 

Market Snapshot – Fall 2018

Each month our newsletter subscribers get a Market Snapshot for San Mateo and Santa Clara counties.  It is amazing to see the growth our area has experienced.  Curious where the market is going?  We are entering the Fall Market – as my guy friends say – Sunday Football Season.  It’s no joke, the market tempers each fall and winter.  Don’t fret when you see price adjustments.  It’s not the collapse – it is partially the seasonal shift of focus.  As the leafs turn and the air chills – our real estate market tempers a bit.  For Buyers it means opportunity with less competition.  For Sellers – this market is very much in your favor as there is ample demand for each home.  Please feel free to contact The Caton Team for a custom market evaluation.  Each price point and area is different.  The Caton Team – are natives to the Bay Area and know the Silicon Valley Real Estate market like our backyard – because it is our backyard.  What can the Caton Team do for you?

Thank you for reading, Sabrina

Got Questions – The Caton Team is here to help.

The Caton Team strives to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here. Contact us at your convenience – we are but a call, text or click away!

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522 Office: 650-365-9200

The Caton Team – Susan & Sabrina
A Family of Realtors
Effective. Efficient. Responsive.
What can we do for you?

The Caton Team Testimonials

The Caton Team Blog – The Real Estate Beat

The Caton Team Website

The Caton Team Advantage

How to Buy While Selling Real Estate

Want Real Estate Info on the Go?  Download our FREE Real Estate App:  Mobile Real Estate by The Caton Team

Visit us at:  Our Blog * TheCatonTeam.com * Facebook *Yelp Us * My Yelp * Instagram * HomeSnap* Pintrest * LinkedIN Sabrina * LinkedIN Susan

Berkshire Hathaway HomeServices – Drysdale Properties

Sabrina DRE# 01413526 / Susan DRE #01238225 / Team DRE# 70000218/ Office DRE #01499008

The Caton Team does not receive compensation for any posts.  Information is deemed reliable but not guaranteed. Third party information not verified.