real estate market forecast – Page 6

PENDING in San Francisco

Pending feels so good – because we are one step closer to our client’s goal. Once an offer is accepted the real work begins – and The Caton Team is here for all of it.

We had the joy of meeting our awesome clients and instantly clicked. With an underwritten approval in hand, we jumped into the thick of it. Homes were selling while we stood in them. It was intense. When we did get to write an offer – we were blown away by the level of competition. Then ‘the one’ came on, armed with experience we worked with our clients to determine the best course of action. With their trust and our knowledge – together – we made Real Estate goals come true.

How can The Caton Team help you?

The Caton Team loves helping sellers prepare their home for sale as much as we love finding the right home for each client. We’ve been blessed to make dreams come true by taking advantage of this active market and amazing low-interest rates. If you’ve been considering a sale or purchase of Real Estate – especially in the Bay Area, now is a great time to get discover the possibilities.

Real Estate means homes and home is where the heart is. We’ll get through this together. We work remotely, can draft and sign contracts online; with virtual tools, The Caton Team can make any of your Real Estate goals happen whether you’re selling or buying – today or tomorrow.

We love what we do and we love taking great care of our clients. That’s never changed. Let us know how we can help you. For Timely Information Subscribe to our Blog

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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. How can The Caton Team help you?

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

The numbers are in – Monthly Market Update

The stats are in for March 2022 – the market is as strong as ever.

Each market is unique and with over 35 years of combined Real Estate experience, The Caton Team is more than happy to be of service if and when you are considering a purchase or a sale. Contact us anytime during your journey, together we’ll help you achieve your Real Estate goals.

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

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Berkshire Hathaway HomeServices – Drysdale Properties

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

PENDING in Oakland!!!

Pending feels so good – because we are one step closer to our client’s goal. Once an offer is accepted, the real work begins. The Caton Team is here for all of it.

We had the best time learning the Oakland area and narrowing down on the right home for our clients. Having our first offer outbid, we revved up for the next one and, we were not taking no for an answer. With kindness, due diligence, and determination – we were able to make this dream come true for our clients…

How can The Caton Team help you?

The Caton Team’s loves helping sellers prepare their home for sale as much as we love finding the right home for each client. We’ve been blessed making dreams come true by taking advantage of this active market and amazing low interest rates. If you’ve been considering a sale or purchase of Real Estate – especially in the Bay Area, now is a great time to get discover the possibilities.

Real Estate means homes and home is where the heart is. We’ll get through this together. We work remotely, can draft and sign contracts online; with virtual tools The Caton Team can make any of your Real Estate goals happen whether you’re selling or buying – today or tomorrow.

We love what we do and we love taking great care of our clients. That’s never changed. Let us know how we can help you. For Timely Information Subscribe to our Blog

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

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

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.

Report Shows ‘Double Trouble’ for Housing

I love sharing articles that discuss the hottest topic in my career – the market.

Record-high home prices and record-low inventories, a combination labeled “double trouble” by analysts, are growing roadblocks for many Americans to achieve homeownership, particularly for Black Americans, according to a new analysis from the National Association of REALTORS® and realtor.com®. The newly released report, The Double Trouble of the Housing Market,”examines the impacts of rapidly rising home prices and low inventories on housing affordability.

About 400,000 fewer affordable homes are available for sale for households earning $75,000 to $100,000 compared to before the pandemic began, according to the study. There’s one affordable listing available for every 65 households, a notable decrease in availability from one affordable listing for every 24 households in 2019 for this income segment, the study says.

Home prices have risen by double-digit gains over the past year. Nationwide, the total home valuation has surged by $8.1 trillion from the first quarter of 2020 through the end of 2021.

“The housing wealth gain has been sizable over the past two years,” says Lawrence Yun, NAR’s chief economist. “However, due to the ongoing inventory shortage and rising interest rates, homeownership attainment will become especially challenging unless drastically more housing supply is available.”

The low-inventory challenge is “particularly acute for some racial and ethnic groups who have faced greater hurdles to homeownership stemming from, among other things, lower incomes as a group,” adds Danielle Hale, realtor.com®’s chief economist.

Rising home prices and record-low numbers of homes for sale have made it increasingly difficult for Black Americans to achieve homeownership, according to the report. Since 2017, the annual homeownership rate for White Americans has remained above 70%. But the homeownership rate for Black Americans has been only about 40%—some 30 percentage points lower.

NAR and realtor.com®’s report analyzed housing affordability by racial group to help explain the possible differences in homeownership. They found that 35% of White households but only 20% of Black households have incomes greater than $100,000. However, about half of all homes currently listed for sale—51%—are affordable only to households with at least $100,000 income. A significant and persistent racial homeownership gap exists in America, the report says. Despite the challenges, though, Black Americans are finding a path to homeownership in some markets like Baltimore, Memphis, Tenn., and St. Louis.

“There are affordable markets that still provide opportunities to achieve homeownership as inventory at affordable price points is reasonably available,” says Yun.

NAR Calls for More to Be Done

To increase the nation’s housing inventory, NAR has advocated for lawmakers to:

Include funding for affordable housing construction
Preserve, expand, and create tax incentives to renovate distressed properties
Convert unused commercial space to residential units
Encourage and incentivize zoning reform

Further, expanding new-home construction by an additional 550,000 units a year for 10 years would create 2.8 million new jobs and generate more than $400 billion in economic activity, NAR says. A separate report conducted by NAR and the Rosen Consulting Group, Housing is Critical Infrastructure: Social and Economic Benefits of Building More Housing, examines the causes of America’s housing shortage and provides a range of actions that can effectively address this longtime problem.

SOURCE

The Caton Team loves what we do and would love to help you – please enjoy our resources below and get to know our team at through our clients words.

HOW TO SELL during COVID-19 | HOW TO BUY during COVID-19

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HOW TO SELL during COVID-19 – HOW TO SELL – HOW TO BUY during COVID-19- – HOW TO BUY – MOVING MID PANDEMIC – TRUST AGREEMENTS and HEALTH CARE DIRECTIVES – OUR TESTIMONIALS

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

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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.

PENDING – Feels so good!

Pending feels so good – because we are one step closer to our client’s goal. Once an offer is accepted the real work begins – and The Caton Team is here for all of it.

How can The Caton Team help you?

We love what we do and we love taking great care of our clients. That’s never changed. Let us know how we can help you. For Timely Information Subscribe to our Blog

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

Get exclusive inside access when you follow us on Facebook & Instagram

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

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.

Market Update – April 2021

The stats are in for April 2021! The average price for:

San Mateo County

Single Family Home $2.292,000

Luxury $11,999,000,

Condo/Townhome $806,000

Luxury Condo/Townhome $1,660,000

Santa Clara County

Single Family Home $1,600,000

Luxury $6,460,000

Condo/Townhome $770,426

Luxury Condo/Townhome $1,576,000

Get exclusive inside access when you follow us on Facebook & Instagram

HOW TO SELL during COVID-19 – HOW TO SELL – HOW TO BUY during COVID-19- – HOW TO BUY – MOVING MID PANDEMIC – TRUST AGREEMENTS and HEALTH CARE DIRECTIVES – OUR TESTIMONIALS

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

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

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.

THE COST OF WAITING

Realizing it’s time to buy a home is an exciting and scary moment. That’s why The Caton Team is here to guide our clients through the Bay Area Real Estate market.

Today’s topic – The Cost of Waiting – is something most buyers do not consider when first looking into Real Estate investing.

Buying the dream home is not a linear journey. Getting into the dream home is a stepping stone process of Real Estate investments. All in the name of equity.

Equity is earned over time and through updating a property. It’s the money ‘in’ your home. That future value minus the mortgage is the profit that turns into the downpayment for the next, bigger, and better Real Estate Investment.

Often buyers will consider waiting until they can afford the home they really want, instead of buying something smaller – here’s where things get real.

The Bay Area is one of the most expensive Real Estate in the country. Properties are selling in less than a week, significantly over list price, with multiple offers – repeatedly. This not only creates an appraisal lag but also a savings nightmare.

My point is – California Real Estate has appreciated since 1849. There are and will be ups and downs through the years, but overall its constant trajectory is up.

What does that mean if today you’re thinking about buying Bay Area Real Estate today?

Do it.

Invest in the best place within budget, in the best area possible – improve the property, and over time it will earn equity. Equity is the stuff dreams are made of.

Because trying to out-save the market is impracticable, the only way to do so is to own and earn equity.

With the most affordable market, Alameda County, seeing $300,000 in appreciation from January 2020 to March 2021 – it’s a tall order to expect anyone to save faster than the current market is appreciating. This means – if a buyer waits – they could wait themselves out of the market.

Here’s some food for thought; data for San Francisco, San Mateo, Santa Clara, and Alameda Counties.

Values are from January 2020 and March 2021.

San Francisco: $ 1,668,000 / $1,687,000 – Average appreciation of $19,000 – Peaking at $ 1,835,000 in June 2020. *(This average is skewed due to the diversity of the city. For more detailed information please reach out.)

San Mateo: $ 1,881,000 / $2,453,000 – Average appreciation of $572,000 – Peaking at $2,453,000 in March of 2021.

Santa Clara: $ 1,454,000 / $1,936,000 – Average appreciation of $482,000 – Peaking at $1,926,000 in March of 2021.

Alameda: $968,000 / $1.275,000 – Average appreciation of $ 307,000 – Peaking at $ 1,275,000 in March of 2021.

Real Estate wealth is made over time with sage wisdom. The Caton Team believes in the power of homeownership to create long-term security and wealth. Each client is unique and each opporunity different. If you’re considering a sale or purchase of Real Estate in the Bay Area – you need a full-time, professional Realtor to guide you. The Caton Team would love to interview for the job as your Realtor Team – please reach out at your convenience.

Call | Text 650.799.4333 Email | Info@TheCatonTeam.com | Testimonials

Data for homes sold UNDER $1 million in San Mateo & Santa Clara Counties, and sold OVER $1 million in San Mateo & Santa Clara Counties. Castro Valley, Hayward, San Lorenzo & San Leandro.

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HOW TO SELL during COVID-19 – HOW TO SELL – HOW TO BUY during COVID-19- – HOW TO BUY – MOVING MID PANDEMIC – TRUST AGREEMENTS and HEALTH CARE DIRECTIVES – OUR TESTIMONIALS

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

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

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.

Are Low Mortgage Rates to Blame for High Home Prices?

Double-digit price increases for homes are not exactly what most people in real estate predicted to occur in a recession. But could low mortgage rates—the 30-year fixed-rate mortgage hit a record-low average of 2.81% last week—be partially to blame?

“The combination of what could be the lowest mortgage rates of our lifetimes, a paucity of inventory, and a desperate rush of buyers has resulted in median home list prices hitting new records,” realtor.com® reports.

Home prices were 12.2% higher for the week ending Oct. 10 than they were a year ago, realtor.com® data shows.

“It’s unprecedented for us to get a massive run-up in home prices during a recession,” says Sam Khater, Freddie Mac’s chief economist. “It’s clear that [mortgage] rates matter even more than unemployment rates.”

Low mortgage rates are helping buyers afford higher home prices, and they’re creating a buying frenzy in the housing market to lock in such low rates. Home buyers purchasing a median-priced home at about $350,000 still pay about $80 less than if they purchased a median-priced home of $315,000 last year at a higher interest rate average of 3.69%, a realtor.com® analysis shows.

Affordability goes up with low mortgage rates. However, home buyers do need a higher down payment as prices rise.

High home prices with high mortgage rates, on the other hand, is not a good combo, housing analysts point out. Ali Wolf, chief economist of Zonda, told realtor.com® that if mortgage rates go up by even a half-point, hundreds of thousands of buyers may no longer be able to purchase a home. First-time buyers, who tend to have smaller budgets, likely would experience the biggest repercussion.

But many economists are predicting mortgage rates to stay low in 2021. In the meantime, home prices likely will remain elevated because buyer demand remains high and inventories remain stretched thin.

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I read this article HERE

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The Caton Team – Susan & Sabrina
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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.

4 Ways Coronavirus Could Impact Housing Long-Term

Hi Caton Team Friends, doing my part to stay educated and safe during this Shelter in Place. I am reading as much as possible and will share articles here. Thank you for reading! – The Caton Team

4 Ways Coronavirus Could Impact Housing Long-Term

The COVID-19 outbreak will undoubtedly have a long-lasting influence on Americans and the housing market moving forward. Housing analysts are already weighing in on what those changes could be.

In a new report, Apartment List highlights a few of the long-term changes they foresee coming from the COVID-19 pandemic:

Mobility will initially be low before spiking.

“Geographic mobility generally declines during downturns, when a lack of job opportunities catalyze fewer long-distance moves across market or housing upgrades,” the report notes. Evictions and foreclosure moratoriums will also help slow mobility. But housing analysts are predicting a spike in moves once the COVID-19 outbreak eases. “Many upgrade and downgrade moves will be postponed rather than canceled, creating a reshuffling of households throughout the recovery,” researchers note. The future wave will include those relocating for jobs, moves to be closer to family, and young adults forming their own households. Also, those who still hurt financially even after the pandemic lessens likely will need to move too.

Affordable housing is likely to become even more difficult to find.

Affordable rentals and homes for sale were already in short supply prior to the pandemic. “Fewer people moving means fewer homes available,” the report notes. “With both pandemic and policy keeping people in place, affordable units will become even more rare through the 2020 peak season.” Luxury apartment inventory, on the other hand, may be abundant.

Housing inequality could increase.

Higher earners will likely take advantage of low borrowing costs for refinancing to lower their payments as well as have more choices with the growing luxury rental inventory. On the other hand, lower-income households will likely struggle due to a sluggish economy and face increased competition for limited affordable housing. “As shelter-in-place orders cover a growing share of the nation, those who are able to work remotely are at a distinct economic advantage,” the report notes. “Unfortunately, a correlation between income and the ability to work from home reveals that the lowest earners will be hit hardest by these measures. Fifty-two percent of full-time workers who earn more than $100,000 annually say they can work from home. But only 15% of workers who earn less than $25,000 are able to work from home.”

Sight-unseen housing is likely to accelerate.

Some households may need to make a move sight unseen into their new home or apartment. “Many apartment communities are already enabling virtual tours in response to the pandemic, and many renters and owners alike may soon be evaluating their next home through a tablet screen,” the report notes. “Mainstream adoption of sight-unseen moves will bring both opportunities and challenges for the housing market.” In the rental market, sight-unseen transactions may prompt elevated levels of rental fraud, Apartment List notes.

I read this article HERE

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

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?

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.

How Record Unemployment Claims Will Affect the Housing Market

As businesses across the United States have been mandated to close their doors in a desperate effort to slow the spread of COVID-19, people have been losing their jobs left and right. Now, we’re seeing the first unemployment report since the first “shelter in place” orders, and it’s far more grim than anyone had expected.

A record 3.28 million Americans filed for unemployment support in the week ending March 21—the most claims ever filed in a single week.

“Normally, when an economy goes into a recession it develops slowly over time,” says realtor.com® Chief Economist Danielle Hale. “That’s not happening this time around. … It’s pretty clear that the economy is grinding to a halt pretty suddenly.”

It will also be a tough blow to the already wobbly housing market, since those who lost their jobs are not likely to be buying a home anytime soon. Even the millions of Americans who haven’t been laid off or lost work yet are likely to hold off on a major purchase, fearing for the stability of their employment. And while ultrawealthy buyers may be insulated from the downturn, they may still balk at plunking down millions of dollars on a property they can’t even walk through. In response to this lack of demand, many sellers will likely pull their properties off the market until the crisis passes.

However, folks shouldn’t expect home prices to plunge by the double digits as they did during and after the Great Recession. In the last downturn, there were many more properties for sale, due to an overabundance of construction and mass foreclosures, than there were qualified buyers.

This time around, there is a severe shortage of housing for sale. Builders haven’t been putting up enough homes to meet demand for years. And there isn’t likely to be a huge wave of foreclosures because borrowers are in better financial shape. Plus, the federal and many state governments, along with some banks, are rolling out forbearance and other programs to help Americans who’ve lost their jobs stay in their homes. This is all likely to stabilize prices.

“Price growth will slow, and it’s possible that prices could decline” in certain markets, says Hale. “Folks expecting price declines to happen like they did during the last recession are going to be disappointed.”

The hardest-hit areas will likely be those with the highest percentage of jobs in tourism, leisure, and hospitality, the industries most affected by the novel coronavirus. But even in these areas, Hale doesn’t expect prices to go down more than 5%.

However, sales will slow down as there are simply fewer buyers and sellers in the market. Plus, it’s harder to transact remotely.

“We will see a shocking drop-off in home sales in a very short period of time,” says Hale.

They’re likely to rebound when the virus is under control, but there will almost definitely be fewer sales this year than anticipated before the pandemic.

“We don’t know when things will get back to normal,” she continues. “But when they do … we might also see a really strong bounce back.”

But Americans should expect things to get worse before they get better. Jobless claims will likely remain high until the crisis abates—and that timeline is still unclear. But the federal stimulus package expected to pass, which includes $1,200 checks to most Americans, could help to steady the markets.

“All the incoming data will also be off the chart for a few months,” Lawrence Yun, chief economist of the National Association of Realtors®, said in a statement. “The key is whether the stimulus package can reverse all these damages by the second half of the year.”

By Clare Trapasso | Mar 26, 2020

I read this article HERE

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

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?

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.

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