Category: real estate market

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.


 

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.


 

Where is this Real Estate Market Headed?

Where is this Real Estate Market Headed?  That is the hottest topic in Real Estate today!  

I just found a great article keepingcurrentmatters.com – that took several surveys to give us something to chew on.  The below image takes those surveys and shows us some different values. 

It is interesting to see the forecast for each model.  Just know Real Estate goes up and down, we’ve reached our 10 years mark since the crash – we’ve seen massive market healing but now – are we at the top?

Real Estate has and always will be a long term investment.  It goes up and down over the years.  Yes, in hot markets it feels like you can buy and flip in two weeks but that market is in the past now.  For most of 2019 and staring in Fall of 2018 – The Caton Team saw a change in the market.  Here on the San Francisco Peninsula – we are in a Buyers Market!  Now – let’s be real – well priced homes, in good areas are going to warranty more actively.  I hosted a well priced duplex this weekend and they have an offer date set after four days on the market.  It’s the first offer date I’ve seen in a while.  But that price and location – makes it a hot market.

However, as hot as new listings are – don’t forget to look at older inventory.  If a home is on the market over the Fall and Holidays it is because it has to sell – giving buyers a great opportunity. 

So where is the market going?  How about we ask you a different question? Where are you going?  Do you want to make Silicon Valley your home?  Do you work here, love what you do and want to earn some equity instead of wasting money on rent?  Do you think prices are so high – you can’t buy – have you considered house hacks or co-investing.  If you see the vaule if Real Estate no matter where we are in the Real Estate High Low cycle – then you know – now is a great time to buy.

With so much conflicting information out there, making the right decision can be daunting.  If you have some questions or just want to bounce around idea – give The Caton Team a call.  We’re not here to sell you a house – but we are here to help you invest in your future. 

Screen Shot 2019-09-23 at 12.50.33 PM

I read this article at: keepingcurrentmatters.com

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 – 9.9.19

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Happy Monday Caton Team Friends,

I just did my quick, Market Update on Instagram stories – but I wanted to follow up here as well. 

This just in – Redwood City has 1.4 months of inventory – that is a lot of homes for sale!  More than we have seen in ages!  With this brings growing pains.  Buyers have much more to choose from than ever before!  We’re seeing price reductions as between $10,000 – $200,000 (depending on the location) on homes that have been on the market for a while.  WHY?  Because with these many homes for sale – new listings are pushing older listings down the list and getting lost in the shuffle.  Buyers who are doing this alone – and many are – are getting caught up with the new listings and loosing some major opportunities for homes that have been on the market for over 2 weeks!  It is time to get serious people.  It is time to utilize the power for REALTORS! 

Though our market is in flux – you and I know that the Bay Area is the best place on earth to live – thus our high prices – because so many people want to call The Bay home.  But right now there is opportunity.  Homes in Redwood City are selling for 99$% of list price meaning – the are selling for 1% BELOW THEIR MARKET PRICE!  You read that right and it’s been a long time since we’ve seen this.  For now, the frenzy is on hold, we are seeing few offer dates – though if the house is hot there will be a date – but that’s not the point.  There are plenty of homes, needing to sell and willing to negotiate!  You just need a Realtor to help you sort all this out!  Did I mention that interest rates are down to 3/3.5%!!!  That is practically free money!  When rates are this low – you can buy MORE HOUSE because it costs you less.  However, this is a short term opportunity   When rates go up – a buyer will lose purchase power because the cost of money has increased.  So this really is a market many buyers have been waiting for but they don’t know they’re in it.

If you want to be a homeowner in the Bay Area – we’d love to sit down with you, get to know your wants and needs.  Earn your trust and in kind, earn your business.  We love what we do and we’d love to help you!

Now – what does this mean for sellers?  It is hard to see the vaule of your home change.  It will do so for ever and ever, the up and down cycles of Real Estate.  However, what it comes down to – what are your goals?  Are you selling to move to a larger home, smaller home, out of area etc?  There are many facets to consider when buying and selling Real Estate and with 35 years of combined, local Real Estate experience – The Caton Team can help you make the best decision for yourself and your family!

Contact The Caton Team at any time for all your Real Estate needs – we’re happy to answer your questions and be of service. 

Call | Text | Sabrina 650.799.4333 | Susan 650.796.0654

Email |   Info@TheCatonTeam.com

 

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.


 

May 2019 Bay Area Real Estate Stats

The May 2019 numbers are in!  We’re seeing an influx of properties in the mid million market and price adjusts on the high-end.  There are still a large number of buyers, but they are cautious and tread with care.  What stands firm is all the Bay Area offers in culture, activities and weather.  So even if the market is slowing down – we still live in the best place on earth and it is worth investing in your home long term.  Do you have any Real Estate Questions?  Contact The Caton Team – we’re happy to be of service.

 

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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.

Loads of houses are up for sale — but middle-class buyers are still shut out – Washington Post

Despite an uptick in homes on the market and weakening home sales across the country, home ownership is out of reach for a growing number of middle-class buyers, according to a recent report from real estate brokerage Redfin.

An analysis of U.S. homes on the market in 2017 and 2018 found that the number of affordable homes for sale has decreased in 86 percent of metro areas (of 49 included in the study), even as the number of homes on the market grew. While buyers normally benefit from better availability in competitive housing markets, it doesn’t help if the majority of available homes are priced for the wealthy.

“For the past few years, home prices have gone up faster than wages,” said Daryl Fairweather, chief economist at Redfin. “That kind of growth really isn’t sustainable. At a certain point, there won’t be enough buyers left for the homes left on the market.”

Home ownership has long been at the heart of the American dream, a means of accumulating wealth and securing financial stability. But ownership rates have fallen dramatically since the financial crisis — coming in at 64. 4 percent in the third quarter of 2018, according to data from the U.S. Census Bureau — a telling sign that the traditional markers of middle-class life are getting tougher and tougher to hang onto.

To estimate affordability, researchers used the median income in each metro area, applied standard interest rates and assumed a 20 percent down payment and a monthly mortgage payment of 30 percent or less of the buyer’s gross income. Even adjusting for 10 percent down payment, just over half of homes on the market were affordable, according to the study.

In Seattle, the share of affordable homes fell 14 percent from 2017 to 2018, leaving only 46 percent of homes within the reach of middle-class families. In San Jose, Calif., the share of affordable homes fell from 26 percent to 14 percent over the same time.

According to the National Association of Realtors, existing home sales in December were down 10.3 percent year over year, the biggest drop since the housing market bottomed in 2011. At the same time, the median home sale price was $223,900, according to Zillow’s home value index.

Current conditions mirror what happened after the housing market collapsed. Prices tumbled and property was abundant, but the only people who could afford to buy were those who hadn’t been crippled by the financial crisis. Years later, a booming economy has yet to restore buying power to middle-class families, as mortgage rates and home prices have climbed. Prices surpassed their pre-crash peak in October 2017. And according to a December report from ATTOM Data Solutions, last quarter was the nation’s worst for home affordability in over a decade.

In metro areas, part of the issue is a lack of public investment in affordable housing, Fairweather said. The problem is often exacerbated in cities that serve as hubs to major tech companies, where an influx of highly paid workers has ratcheted up prices and cost of living. It’s fueling a flight from the coasts, as increasing numbers of people move inland in search of affordability.

Some states and cities are taking steps to correct this. California’s Gov. Gavin Newsom has an ambitious plan to oversee construction of 3.5 million new housing units by 2025. In November, the Minneapolis City Council signed off on $12 million in affordable housing investments throughout the city. Private companies are even stepping up to the plate — and Microsoft announced it’s offering up $500 million to build and protect affordable housing in Seattle.

The housing market is a cornerstone of  U.S. economic output, accounting for over 12 percent of the country’s GDP in 2017.  With the economy deep into an expansion, there’s been a rise in first-time buyers, but if conditions persist, many may be priced out and forced to rent instead. 

“Now the economy is doing better and more people are looking to buy a home for the first time,” Fairweather said, “but they’ve missed the boat on affordable deals.”

I read this article at: Washington Post

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.

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.