SOLD – by The Caton Team in San Carlos

Helping our clients achieve their Real Estate goals is our number one priority – more now than ever in the time of Covid.  As an essential service, The Caton Team is ready to serve.  I cannot wait to share the whole story behind this journey as it will bring a smile to your face – stay tuned and don’t forget to subscribe to our blog – TheRealEstateBeat.blog – and never miss a beat!  To read more about how The Caton Team can serve you check out our Testimonials.

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We love what we do and love taking care of our clients.  

How can The Caton Team help You?

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654 |  EMAIL  |  WEB  |   BLOG

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  |  WEB  |   BLOG

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

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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.

 

The numbers are in for 4.6.2020 – 4.13.2020

Hello Caton Team Friends.  Each week I plan on updating us on real time market stats. Here are the numbers for 4.6.2020 – 4.13.2020.  I also included the stats for March 2020.

Lender Update: Jumbo loans are currently on lock down too – as many banks are shying away from that price point.  To obtain a mortgage your Credit Scores must be at 700 and 20% is needed for the down payment.  There are loan products that offer some downpayment assistnace and work arounds so it’s best to check with several lenders and shop for your home loan.  Let us know if you need any help or have any questions.  Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654  |  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.  How can The Caton Team help you?

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.

Home Selling in the Age of Coronavirus: It’s a Whole Different World

Home Selling in the Age of Coronavirus: It’s a Whole Different World

THIS ARTICLE POSTED AT AN EARLIER DATE – Please adhere to new County Safety Standards.

In the not so distant past, Seattle open houses were packed with home buyers eagerly poking their heads in closets, perusing spec sheets, munching on snacks, and offering bids above asking price in this ultracompetitive market.

Then on Jan. 20, a Washington state resident became the first confirmed case of the coronavirus in the U.S.—and slowly but surely, everything changed.

According to Seattle-based real estate agents, open houses are now significantly more guarded affairs, and some have been canceled outright. Attendance of the open houses that are still taking place has been noticeably lighter than it has been traditionally, and attendees seem to be less interactive—most are doing their best to keep their distance from one another, and don’t dare crack open a closet or touch a countertop without clenching an antiseptic wipe.

“We are seeing a lot more hand sanitizer and Clorox wipes at open houses,” says Wes Jones managing broker with Keller Williams in the Seattle suburb of Bellevue, WA. “We also make sure to wipe down the front door handle a number of times throughout the open house. It also appears that not shaking hands at all is quickly becoming acceptable.”

Meanwhile, more home sellers leery of the potential health risk of strangers at their open houses are refusing to host them.

“We did have one client decide not to have us continue with their public open houses,” Jones says. “We will continue to show their property by appointment only.”

He’s also seen more home buyers pulling out of the market and putting their searches on hold for now. But “the worst-case scenario is that we go from a really hot market to a more normal market,” he says of Seattle.

“I am not naive enough to believe that the overall economy may not be impacted short term by this scare,” he continues. “What could happen next? That remains to be seen.”

How the coronavirus is changing how people sell homes

Welcome to the reality of selling a home in the era of the coronavirus. Anxieties abound, not only about catching the virus that causes COVID-19, but also the volatile stock market, the shaky economy, and general fears of a coming recession—all of which could plunge the U.S. real estate market into a forced hibernation right when it’s supposed to leap into overdrive this spring.

While Washington state may be coronavirus ground zero with the earliest known cases, and some of the highest levels of infection in the U.S., (according to the Centers for Disease Control), the panic is being felt nationwide by real estate agents who’ve noticed a drop-off in the number of home buyers and sellers willing to mingle and make a deal.

“The coronavirus is leading to fewer home buyers searching in the marketplace, as well as some listings being delayed,” says Lawrence Yun, chief economist for the National Association of Realtors®. “In the latest flash survey, 11% of Realtors indicated a reduction in buyer traffic and 7% are reporting lower seller traffic when asked directly about the coronavirus impact on the market. The stock market crash is no doubt raising economic anxieties, while the coronavirus brings fear of contact with strangers.”

Ironically, this downturn comes at a time when buying a home is more affordable than ever. Just last week, Freddie Mac reported that interest rates hit a near 50-year low, at 3.29% for a 30-year fix-rated mortgage.

“The dramatic fall in interest rates may induce some potential buyers to take advantage of the better affordability conditions, but it is too early to assess whether lower interest rates can overcome the economic and health anxieties,” says Yun.

Nonetheless, he continues, “in the short term at least, home sales will be chopped by around 10%, compared to what would have been the case, due to the spread of coronavirus.”

Seattle’s housing market: A harbinger?

As for what could happen next, many are looking for clues in the Washington real estate market. It’s still strong, but due to the double whammy of the area’s virus exposure levels and plummeting stock portfolios, experts are watching it closely for signs of decline.

“Anytime you have local stocks like Amazon and Microsoft experiencing a 15% drop, that is a lot of perceived wealth that has been taken out of the market,” says Nick Glant, founding broker at Compass in Washington. “That said, some buyers and investors are looking at housing as a safer asset class than equities given the recent volatility.”

Glant’s biggest worry is whether the virus forces certain areas of Washington to go on lockdown.

“The only thing I would see as a detriment to selling in a significant way would be a larger-scale quarantine situation,” he says. “It will also be interesting to see what happens to relocation buyers should more travel restrictions be put in place. Tech relocation is a significant driver of our market, and if people cannot easily come out to tour properties in advance of taking a job here, they may be more apt to rent in the short term.” 

Meanwhile, home buyers in other areas hit hard by COVID-19 (like California and New York) are feeling nervous, too.

“Concerns just started this week,” says Janine Acquafredda, a broker at House n Key Reality in Brooklyn, NY. “So far, homeowners haven’t voiced any concerns with regards to showings, and sellers are still listing without restriction. But I do have buyers and sellers reluctant to attend closings if it involves taking the subway, and one closing was postponed by an attorney because his client was very ill—exhibiting flu-like symptoms—and didn’t know what she had. He said, ‘I’m not going to put myself in that position.'”

How home buyers and sellers can limit their exposure

Ultimately, determined home buyers and sellers will find a way—it may just look a little different than before. For one, the days of lavish, party-atmosphere open houses with finger food or baked cookies may be over, at least for a while.

“I do think agents may rethink hosting large open-house events with spreads of food and drinks where people are picking up plates, napkins, and plasticware along with pouring drinks out of bottles,” says Cara Ameer, a real estate agent in California.

Another way home buyers and sellers are limiting their exposure is by opting for virtual tours.

“As a virtual tour provider in Washington, DC, we are seeing an uptick in demand for video and more elaborate virtual tours so homeowners don’t need to have an open house,” says Roman Caprano at Sky Blue Media. “In our market, homes sell in days, so many agents typically only invest in photos, but now they are purchasing more content.”

“These virtual tours work like Google Street [View] within a house,” says Jones, who uses Matterport software to give buyers a 3D, multidirectional spin through a property.

While it can’t completely replace an in-person showing, says Jones, “a virtual tour can help them understand the house better. For those that are concerned about the virus, this allows them to make a more informed decision about the property and whether to get out and go see it.”

Nonetheless, “the reality is real estate is a contact sport,” says Ameer. “And that means exposing yourself to a lot of potential germs from shaking hands, interacting at open houses, and touching all sorts of doorknobs and light switches multiple times a day.”

As such, she adds, “I think we need to adopt a new normal of practices during this period of time.

“I now carry a canister of disinfecting wipes in my car so I can wipe my hands and the steering wheel after being in and out of houses,” she says. “I have also wiped down lockboxes, light switches, and doorknobs on my listings, and encourage customers to do the same. While you don’t want to make anyone feel uncomfortable, it is better to err on the side of caution rather than worry about exposure. You can never be too careful.”

By Erica Sweeney | Mar 12, 2020

Erica Sweeney is a writer whose work has appeared in the New York Times, Parade, HuffPost, and other publications.

I read this article HERE 

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.  How can The Caton Team help you?

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.


 

U.S. Suspends Most Foreclosures Amid Coronavirus Uncertainty

U.S. Suspends Most Foreclosures Amid Coronavirus Uncertainty

There is plenty to worry about as the number of COVID-19 cases in the U.S. ratchets up, a prolonged recession becomes likelier, and more Americans’ jobs are in jeopardy. But to ease some of the pressure, many folks won’t have to fret about the immediate prospect of losing their homes.

The Federal Housing Finance Agency announced on Wednesday that Fannie Mae and Freddie Mac would suspend foreclosures and evictions for at least 60 days for all borrowers who can’t make the monthly payments on their single-family home loans. The suspension applies only to Fannie or Freddie loans, which make up about half of all residential mortgages, or 28 million borrowers.

The FHFA had previously announced that the mortgage giants would provide payment forbearance to homeowners affected by the coronavirus who are struggling to make good on their loans. The forbearance can last up to 12 months.

Fannie Mae borrowers won’t have their late payments reported to credit bureaus when they participate in a forbearance plan. They also won’t incur late fees. When the forbearance ends, borrowers will work with their mortgage servicers to come up with a plan to to reduce their payments or receive a loan modification.

Fannie and Freddie borrowers “tend to be middle-class borrowers, and many of them will be hard-pressed,” says Mark Zandi, chief economist at Moody’s Analytics. “Many of these homeowners are going to lose jobs, they’re going to lose hours, and they’re going to lose pay. So they’re going to need help quickly.”

During the Great Recession, when foreclosures were rampant, Fannie and Freddie suspended foreclosure sales from Nov. 20, 2008 to March 6, 2009.

But foreclosures had plummeted in recent years thanks to a strong economy, high home prices, and many homeowners building up equity in their properties as a result. About a third of homes are owned outright with no mortgages,

But the spread of the COVID-19 virus has since upended the economy, cratered the stock market, and led to widespread business closures and layoffs.

Suspending foreclosures is “a good policy in these uncertain times,” says Lawrence Yun, chief economist of the National Association of Realtors®. “For people who are suffering income losses, it gives them time for unemployment income to come in and the federal stimulus money to come in.”

Homeowners worried about falling behind on their payments should contact their mortgage servicers as soon as possible to make arrangements, say FHFA officials.

The policy will allow folks “to stay in their homes during this national emergency,” says FHFA Director Mark Calabria.

By Clare Trapasso | Mar 18, 2020

I read this article HERE 

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.  How can The Caton Team help you?

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.


 

Mortgage Applications Drop as Coronavirus Infects the Housing Market

Mortgage Applications Drop as Coronavirus Infects the Housing Market

My 2 cents – these Bear Markets can be frightening.  But I’m not scared.  Real Estate is one of the most crucial investments of your life and time and time again Real Estate recovers and maintains its vaule.  Will it dip?  Of course it will.  The Real Estate Market like the Stock Market is a direct reflection of the people’s collective reaction.  So this slow down is not a surprise, people are sheltering in place and scared to act. 

Let me leave you with this, Uncle Warren Buffett who owns BHHS – he always buys in a Bear Market.  So don’t be scared.  If buying a home was your goal this year, if you still have your downpayment safe in your saving account – interest rates are low, if you’re still employed you’ll get a loan! If you want to buy, go for it.  We Realtors can make things happen virtually and online while maintaining safety and obeying the shelter in place. 

Even if you already own your home, values doesn’t matter if they go up and down until you actually sell.  So stay in place, maybe even work on the house and hang tight. 

Now for the article…

The U.S. housing market is showing signs of being infected by the coronavirus. With more Americans testing positive for COVID-19, the economy crashing, and increasing numbers of shuttered businesses and layoffs, fewer folks are seeking mortgages to purchase homes during this crisis.

The number of home buyers seeking mortgages dropped significantly in the week ending March 20, according to a weekly survey from the Mortgage Bankers Association. Weekly purchase applications fell 14.2% compared with the previous week—and was down 11.2% from the prior year, according to the nonseasonally adjusted numbers.

The survey spans more than 75% of U.S. residential mortgage applications.

This was the first year-over-year decline in home purchase applications in more than three months. The average loan size for home purchases was $336,000.

“Home purchase applications were notably impacted by rising rates and the widespread economic disruption and uncertainty over household employment and incomes,” Joel Kan, associate vice president of economic and industry forecasting for the association, said in a statement.

The number of buyers seeking mortgages plummeted the most in the states hardest-hit by COVID-19. In New York, the epicenter of the pandemic in the U.S., purchase applications fell 35% in the seven days ending March 20 compared with the prior week. And they were down 24% in the week ending March 13 from the previous week.

Weekly purchase applications fell 23% in California and 17% in Washington state in the week ending March 20 compared with the prior seven days.

“Potential home buyers might continue to hold off on buying until there is a slowdown in the spread of the coronavirus and more clarity on the economic outlook,” Kan said.

Overall, the number of mortgage applications fell 29% compared with the prior week. Weekly refinance applications were down 33.8% but were still up 195% from the same week a year earlier.

Refinances spiked at the beginning of the month, when mortgage interest rates fell to historic lows, reaching a low of 3.13% on March 2 for 30-year fixed-rate loans, according to Mortgage News Daily. Homeowners rushed in to refinance their existing home loans in an effort to pare down their mortgage payments by as much as a few hundred dollars a month and tens of thousands of dollars over the life of their loan. The exact amount varied considerably depending on the rate they received and size of their loans.

Mortgage rates have since fluctuated wildly, reaching 4.15% on March 19 before going back down to 3.5% as of Tuesday, according to Mortgage News Daily. And that’s led to a drop in refinance applications as refinancing isn’t as profitable as it was for homeowners when rates reached new lows.

Clare Trapasso is the senior news editor of realtor.com and an adjunct journalism professor at St. John’s University. She previously wrote for a Financial Times publication, the New York Daily News, and the Associated Press. She is also a licensed real estate agent with R New York. Contact her at clare.trapasso@realtor.com.

By Clare Trapasso | Mar 25, 2020

I read this article HERE 

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.  How can The Caton Team help you?

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.


 

Recession Alert: What Home Buyers and Sellers Need To Know About the Housing Market

Recession Alert: What Home Buyers and Sellers Need To Know About the Housing Market

Last year, there were fears that a trade war with China or the fallout from Brexit could torpedo the strong U.S. economy. Instead, it was the unforeseen force of COVID-19, caused by a new strain of coronavirus, that has led the president of the United States to declare a national emergency and made a global recession seem all too possible.

As flights are canceled, school suspended, and professional sports put on ice around the world amid the deadly pandemic, an economic slowdown appears inevitable. That’s terrifying to those whose memories of the Great Recession are still fresh, but many housing and financial experts believe this looming downturn—which may not even devolve into a full-blown recession—may not be as painful as the last.

“I don’t expect the slowdown to be like the last recession where prices fell,” says realtor.com® Chief Economist Danielle Hale. “There are more than enough buyers out there to keep home sales from slowing in any major way.”

While it doesn’t look like it will be business as usual anytime soon, home prices aren’t expected to fall off a cliff and low mortgage rates may help buoy home sales. At least that’s what experts are saying this week. But this is a fast-moving, unprecedented crisis, and no one knows yet how it will all play out.

“The next eight weeks are critical. We will learn, and we will turn a corner on this virus,” President Donald Trump said in a press conference on March 13, as he announced the national emergency. During his appearance, the stock market went up more than 9%. “We will get through this altogether.”

While there will likely be layoffs, many economists don’t expect them to be widespread, but rather concentrated in industries such as tourism and hospitality. If employment stays high, most folks will be able to make their monthly mortgage payments and hold on to their homes. Subprime loans, which helped to tank the economy in the past decade, have largely ceased to exist today, as credit requirements for loans got much stricter after the housing bust. Plus, home prices have risen so much in the past few years that most owners have substantial equity in their properties. So they’re much less likely to find themselves underwater on their mortgages.

“It will be different than the Great Recession. Things unraveled pretty quickly, and then the recovery was pretty slow,” says Hale. “I would expect this to be milder. There’s no dysfunction in the banking system, we don’t have [many] households who are overleveraged [with their mortgage payments] and are potentially in trouble.”

Will home sales and prices go down?

If folks are worried about their jobs, and being able to pay their bills, they’re less likely to want to buy a home. Ditto if they’re nearing retirement and the stock market volatility wiped out a big chunk of their 401(k) accounts.

But that caution is likely to be at least partly offset by some of the lowest mortgage interest rates in nearly 50 years. They were just 3.36% for a 30-year fixed-rate mortgage as of Thursday, according to Freddie Mac.

“I don’t know which force will be greater: the negative impact of job cuts, if that was to occur, or the positive influence of low mortgage rates,” says National Association of Realtors® Chief Economist Lawrence Yun.

Most housing economists don’t expect housing prices to fall, since we’re still seeing a housing shortage. There aren’t enough existing homes or new construction to satisfy the high demand from buyers, many of whom have been looking for a home for a while and perhaps have lost bidding wars. After all, the life changes that lead people to buy a home are still ongoing: expanding a family or having kids leave the nest, or relocating for a new job.

Also, sellers will likely be reluctant to accept less than they would have just a few weeks or months ago. Those not in a hurry to sell may simply pull their abodes off the market and wait for prices to rebound.

As for current homeowners who might find themselves in financial straits if they lose their job, lenders may offer forbearance and payment deferral programs to help them stave off a short sale or foreclosure, says Mark Zandi, chief economist at Moody’s Analytics.

“They’ll be very understanding,” Zandi says of lenders, particularly of government-sponsored loans through Fannie Mae and Freddie Mac, and Federal Housing Administration loans. “Especially in an election year, I don’t think there’s [much of a] chance they’ll take a hard line.”

What real estate markets could be hurt the most by a downturn?

The markets that are most likely to be affected by a downturn, at least initially, are those that rely heavily on travel, tourism, and hospitality. Manufacturing sectors that rely on a global supply chain that’s been disrupted by the virus could also take a hit.

With conferences and conventions being canceled at a rapid clip, places such as Las Vegas could feel the economic toll. Similarly, tourist hot spots like Orlando, FL, home to Disney World, Universal Orlando, and SeaWorld theme parks, which have all announced closures, could also feel the pain.

Their saving grace could be the retirees moving in to those communities, says NAR’s Yun. That demand could keep prices stable—and therefore sellers happy.

“Those [type of] markets are worth watching,” says Yun.

Booming markets that grew very quickly with big price gains could also experience a bit of a slowdown. Metro areas like Denver, Salt Lake City, and Boise, ID, could potentially be affected, says Moody’s Zandi. These markets, which have growing tech scenes, have become popular with retirees and priced-out folks from California in recent years.

“You might see some price declines in the Western markets that got very juiced up, very speculative,” he says.

Zandi thinks those real estate markets could rebound fast—maybe within a quarter or two, or as soon as the economy improves.

The luxury market could have a harder time. A multimillion-dollar home isn’t exactly a necessity, and they typically take longer to sell in normal times. And those who have enough money to buy high-end real estate often have quite a bit of money in the stock market, which has been on a wild ride lately, making them less likely to want to commit to another pricey property. Even luxury rentals, which is where builders have been focusing in recent years, may end up sitting empty.

“Prices are going to come down,” says Zandi. “In a recession, people will look for the best bargain. They’re not going to look for the luxury, high-end home. … They’re going to look for the ‘give me what I need at a good price.’”

By Clare Trapasso | Mar 13, 2020

Clare Trapasso is the senior news editor of realtor.com and an adjunct journalism professor at St. John’s University. She previously wrote for a Financial Times publication, the New York Daily News, and the Associated Press. She is also a licensed real estate agent with R New York. Contact her at clare.trapasso@realtor.com

I read this article HERE.

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.  How can The Caton Team help you?

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.

Is Now the Right Time To Buy an Investment Property? How Low Rates Can Help Investors Increase Their Buying Power

Is Now the Right Time To Buy an Investment Property? How Low Rates Can Help Investors Increase Their Buying Power

With all the upheaval caused by the coronavirus pandemic, now might not seem like the best time to buy any type of real estate, much less an investment property or second home. But don’t rule out the idea completely.

“With historic low rates, it is a good time to consider investing in real estate,” says Victoria Shtainer, a real estate agent and expert at Compass in New York. “Low rates give you more buying power, and we have been negotiating amazing deals for our buyers.”

Mortgage rates are expected to drop again after the Federal Reserve’s recent rate slash, which was intended to protect against the economic impact of the pandemic. That means that it may be time for buyers to consider an investment property. Here are some reasons to go for it.

Why people are considering buying

The lowest interest rates in nearly 50 years, and the potential for a recession, which could lower home prices, have attracted the attention of buyers.

“Given the current volatility in the stock market, investors are reassessing asset allocations in their portfolio, and considering how real estate may fit into this from an asset allocation standpoint,” says Shtainer.

She says the current environment, with low rates and a good selection of inventory, has given investors the upper hand in negotiations.

“More people are looking to real estate as their next investment, because of the potential for both appreciation and cash flow,” says Jennifer Anderson, of Anderson Coastal Group in San Diego. “It’s also a real, tangible item that can provide more control than other forms of investment.”

Benefits of buying an investment property

An investment property can be a valuable asset and a good way to generate passive income, and it might also provide tax write-offs and incentives that you wouldn’t get on other instruments, experts say.

“We always recommend speaking to your qualified tax adviser on your particular situation,” says Shtainer. “However, generally speaking, there can be tax benefits to owning an investment property. This can be via the tax benefits that mortgages provide, as well as the IRS’ treatment of your investment/vacation home, depending on how you rent it out.”

Anderson says that holding a property with the potential for appreciation and cash flow is a huge advantage of buying an investment property. It also diversifies your investment portfolio and protects your net worth while the market goes up and down.

Precautions to take before buying

Buyers should prepare, however, for the possibility of a prolonged economic shutdown. If you’re buying a property that doesn’t currently have tenants, it might be a while before you can find any.

That’s why the most important thing to have on hand before you buy an investment property is cash, says Nick Clements, general manager of Mortgages at LendingTree.

He says that because investment property owners will be responsible for repairs and maintenance, for tenants not paying rent on time, or for the time that might elapse between tenants, they need cash to cushion any bumps in the road.

He also advises buyers to research the appropriate legal vehicle, typically an LLC, with sufficient insurance in place.

“I strongly encourage an umbrella insurance policy. If a tenant gets hurt in your property and decides to sue, you will want to ensure you have the right structure and insurance in place,” says Clements.

To get a better sense of how much rent you might be able to collect, Anderson recommends reaching out to commercial real estate brokerages in the area and asking for historical rental rates for the last 10 years.

“That can give you a good snapshot on how market recessions or booms could impact your earnings or property value,” she says.

How to determine affordability

You don’t have to be a millionaire to invest in property or a second home. To determine whether you are ready to buy, Clements recommends asking yourself two questions.

“Are you cash-flow positive, and could you handle six months without receiving rent? If you can’t answer yes to both of those questions, now is probably not the right time to buy an investment property,” he says.

Shtainer says that buyers should be prudent, just as they would be with their primary residence. She advises that if you’re not buying the property in cash and will need financing, you should make sure you get pre-approved.

Pre-approval will tell you how much the lender is willing to give you for the purchase of your second home.

“Understanding your budget and sticking to it is very important, especially when making an investment,” says Shtainer.

She says that buyers should do their due diligence to ascertain what they can afford, and she suggests they partner with a broker in their market to make sure they are purchasing a property at a favorable market value.

By Ana Durrani | Mar 19, 2020

I read this article HERE 

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.  How can The Caton Team help you?

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.


 

Market Update 3.30.2020

Hello Caton Team Friends!

I do hope you are well, safe and healthy.  Some good news – the Government has approved a $2.2 trillion Coronavirus Aid Relief & Economic Security (CARES) Act – click to read more.

Also – Realtors have been deemed an essential service!  However due to the Shelter in Place, there will be no open houses or tours till May 1.  All showings are to be done virtually. If absolutely necessary, all precautions must be met, gloves, masks and booties at minimum. 

The good news is – Realtors are prepared for such events, we can show homes virtually, we can draft and sign contracts on line, we can negotiate offers over the phone and email.  We can do this because we have been doing things this way for a while. 

Without a doubt the coronavirus has slowed down real estate sales with buyers and sellers hunkering down at home. So here’s some good news…

For our selling clients, homes are selling – last week one house received 20 offers!  When they closed escrow, they signed outside with gloves, masks and booties at a long table.  If you need to sell, The Caton Team is ready to list your home, get fantastic photos and virtual tours, prepare online disclosures the good news – inspectors and escrow officers are working too!  So we can take care of your Real Estate needs with the comfort of knowing we are, and will aways be, a call or click away. 

For our buying clients  – now is your time to shine!  You can apply for loans online, you can follow up with your current loan online, we can take care of the rest – online.  With demand slowed down, you may have less competition.  Buyers do need to be aware of lending restrictions and to double check how the down payments are doing if invested.  Financing is still available but things are taking a bit longer, jumbo loans are a bit tougher within reason. We are seeing contingencies, inspections and appraisals happening.  Close of escrows are about 45 days out and provisions to protect all parties have been drafted by the California Association of Realtors.

This year we have had (for a while now) more demand than supply and that has not changed. There are still many people who want to own a home in the Bay Area and seeing this as an opportunity.  Warren Buffet always buys in a Bear Market!

As we find our new normal – now – more than ever – home is so important.  The Caton Team is here to help you with your Real Estate needs and goals – every step of the way.  Together – we’ll get through this.

Stay Safe – Stay Home – Stay Sane

I’ll be sharing Real Estate news on our Blog and humor on my Facebook Page – please feel free to friend, follow or share.

Sabrina & Susan

The Caton Team

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.  How can The Caton Team help you?

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.


 

First-Time Home Buyer Workshop – Get to know the HEART – 5% Down Payment Loan Program for San Mateo County

* If you cannot attend the workshop, please do not hesitate to contact The Caton Team. We’d be more than happy to help you.*

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

Are you a First-Time Home Buyer?  

Does saving 20% for the down-payment seem daunting?  

Does paying Private Mortgage Insurance (PMI) frost your cookies?  

Then you need to learn about the HEART LOAN of San Mateo County and this workshop is a must!

Get to know the HEART San Mateo County Loan Program – on Wednesday October 30, 2019 at the San Carlos library. 

If you’re buying your first home in this market, you know how painfully hard it is to save for the 20% down-payment.  Must banks require 20% and anything less requires expensive and pointless Private Mortgage Insurance (PMI).  Well the HEART loan – Housing Endowment and Regional Trust of San Mateo is here to help.  They are offering 5% down with NO PMI.  You carry a 30 year, 80% 1st mortgage and a 15 year ,15% 2nd mortgage.  This loan covers single family homes, condos and townhomes anywhere in San Mateo County for a vaule up to $908,156.

The Caton Team has helped several families get into their first home with the HEART program through Meriwest. 

For more information – HEART and Meriwest are hosting a FREE loan workshop at the San Carlos library at 6pm on Wednesday October 30th.  Register Here

Buying and Selling Real Estate doesn’t have to be scary – contact The Caton Team at any time for more information.  We love what we do and would love to help you!

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

For more information or to Register – click here. 

 

 

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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.  How can The Caton Team help you?

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.


 

Historically Low Interest Rates

I feel like I’ve said this a few times — but history is always in the making.  Right now I’m seeing historically low interest rates!  As low as 3% — 4% — that is some affordable money!

What does this mean?  If interest rates are low — the cost of borrowing money is low — meaning you can borrow more money – IE a larger loan — for the same monthly rate that you did before with a higher rate and a smaller loan.  So your purchase power goes UP because the cost of borrowing went down.  But don’t wait too long.  Interest rates adjust daily and until you’re in contract and have locked your rate — they might as well be birds on a wire.

The market cools each Fall and if the Feds maintain this low interest rate — we’re looking at some great buying opportunities.  Right now the San Francisco Peninsula has excess inventory, homes that didn’t sell in the first two weeks are getting lost in the shuffle and as a result — dropping their price to get new eyes in the door.

Don’t wait for a price reduction to get the home you want — just contact The Caton Team and let us work our magic. 

Oh – and if you already own a home — it’s time to take a look at your loan and see how much you can save with a refi.

If you need a great lender to chat with — contact The Caton Team and we’ll put you in touch with our amazing team of lenders! 

 

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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.  How can The Caton Team help you?

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.