Category: Real Estate

C.A.R. releases its 2016 California Housing Market Forecast

As a full time, professional Realtor – I get asked this question very often.  How is the market?  What do you think will happen?  It is one of my favorite topics.  I thought I would share the California Association of Realtors Market Forecast.  I would love to hear your thoughts and opinions – don’t be shy.

C.A.R. releases its 2016 California Housing Market Forecast

California home sales to increase slightly, while prices post slowest gain in five years

LOS ANGELES (Oct. 8) – California’s housing market will continue to improve into 2016, but a shortage of homes on the market and a crimp in housing affordability also will persist, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2016 California Housing Market Forecast,” released today.

The C.A.R. forecast sees an increase in existing home sales of 6.3 percent next year to reach 433,000 units, up from the projected 2015 sales figure of 407,500 homes sold.  Sales in 2015 also will be up 6.3 percent from the 383,300 existing, single-family homes sold in 2014.

“Solid job growth and favorable interest rates will drive a strong demand for housing next year,” said C.A.R. President Chris Kutzkey.  “However, in regions where inventory is tight, such as the San Francisco Bay Area, sales growth could be limited by stiff market competition and diminishing housing affordability. On the other hand, demand in less expensive areas such as Solano County, the Central Valley, and Riverside/San Bernardino areas will remain strong thanks to solid job growth in warehousing, transportation, logistics, and manufacturing in these areas.”

C.A.R.’s forecast projects growth in the U.S. Gross Domestic Product of 2.7 percent in 2016, after a projected gain of 2.4 percent in 2015.  With nonfarm job growth of 2.3 percent in California, the state’s unemployment rate should decrease to 5.5 percent in 2016 from 6.3 percent in 2015 and 7.5 percent in 2014.

The average for 30-year, fixed mortgage interest rates will rise only slightly to 4.5 percent but will still remain at historically low levels.

The California median home price is forecast to increase 3.2 percent to $491,300 in 2016, following a projected 6.5 percent increase in 2015 to $476,300.  This is the slowest rate of price appreciation in five years.

“The foundation for California’s housing market remains strong, with moderating home prices, signs of credit easing, and the state continuing to lead the nation in economic and job growth,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “However, the global economic slowdown, financial market volatility, and the anticipation of higher interest rates are some of the challenges that may have an adverse impact on the market’s momentum next year. Additionally, as we see more sales shift to inland regions of the state, the change in mix of sales will keep increases in the statewide median price tempered.”

I read this article at: http://www.car.org//newsstand/newsreleases/2015releases/2016housingforecast

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

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Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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

 

Renters Are Not Saving To Buy a House

When I read the above title – my jaw dropped.  How can renters not be saving for a home?  The statement alone broke my heart.  Owning a home – to me – means long term security.  More than a place to live!  A long term investment!  Read on and share your thoughts!

-Sabrina

Renters aren’t saving to buy a house

Looking across the vast spectrum of housing surveys today, most will claim that the majority of renters want to buy a home eventually. That may be, but they’re not saving to do that.

In fact, saving for a down payment to buy a house ranks fourth on their list of priorities, according to a survey conducted in October by Harris Poll for Freddie Mac, which helps fund loans to homeowners and apartment developers.

When asked about their savings priorities, more renters said they consider saving for emergencies (59 percent), retirement (51 percent) and children’s education (50 percent) an “essential/high priority.” Only 39 percent said saving for a down payment. This is particularly surprising given fast-rising rents.

Rising rents, up over 5 percent annually nationwide, are affecting how renters spend their money more today compared with just a few months ago. More renters say they are making changes to spending or plans due to those higher rents. Just over half of those surveyed who have seen a rent increase in the past year say they are living payday to payday.

“We know rents are rising faster than incomes, and now we have data to show that many renters don’t have enough to pay all their debts each month, which is forcing them to make tradeoffs, such as cutting spending on other items,” said David Brickman, executive vice president of Freddie Mac Multifamily.

The share of renters who say they now have to put off plans to purchase a home rose to 55 percent in October from 44 percent in the last Freddie Mac renter survey in June. This occurred even as more said they would like to buy a home and have started looking.

Add it up and the lack of affordability is the answer. Renters may be looking, but they’re not buying because they are faced with rising home prices and rising mortgage interest rates.

When asked the main reason they expect to still be renting three years from now, the top three answers had to do with affordability. The fourth was not good enough credit.

There is a growing divide, however, between those who rent a single-family home and those who rent in a multifamily apartment building. Seven in 10 multifamily renters said they expect to continue renting, up from 64 percent in the previous quarter. Renters of single-family homes say they are more likely to buy a home.

“Growth in the renter segment will most likely occur through multifamily properties as more than half of those currently renting single-family properties are planning to become homeowners in the near future,” said Brickman. “The data shows single-family renters are increasingly more dissatisfied than multifamily renters.”

That does not bode well for the growing number of investors in single-family rental homes. Even as large-scale institutional investors slow their purchases of homes to rent, smaller-scale and individual investors are picking up the slack. The number of single-family rental homes rose 35 percent since 2006, to 15.1 million from 11.2 million, according to John Burns Real Estate Consulting. Roughly 3.9 million owner-occupied homes became rentals in that time.

Either apartment managers are doing a better job of serving their tenants than single-family rental managers, or more renters simply prefer the apartment model, which usually offers additional amenities and better locations.

“Right now we’re in the golden age of the fundamentals of the multifamily business,” apartment developer Richard LeFrak said on CNBC’s Squawk Box. “You have a drive toward urbanization where more and more people want to live in cities.”

The survey of 2,020 adults was conducted online within the United States between Oct. 8-12. Of those surveyed, 703 were renters.

I read this article at: http://www.cnbc.com/2015/11/18/renters-arent-saving-to-buy-a-house.html

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

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Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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

 

10 Housing Markets Fueled by Job Growth

10 Housing Markets Fueled by Job Growth

Job growth is propelling home appreciation in several housing markets across the country. Nearly 3 million jobs have been created in the past 12 months, notably among the 25 to 34 age group too.

“With more jobs, more people in the labor force, and higher wages materializing, this spring’s strong pace for home sales will continue,” writes Jonathan Smoke, chief economist of realtor.com, in recent commentary.

Realtor.com® singles out the following 10 markets as seeing some of the highest job creation in the past three years as well as above-average price appreciation.

  • Atlanta–Sandy Springs–Roswell, Ga.

Employment growth, 2011–2014: 1.7%

Median home price growth, 2011–2014: 20.3%

  • Austin–Round Rock, Texas

Employment growth, 2011–2014: 3.7%

Median home price growth, 2011–2014: 8.5%

  • Charlotte–Concord–Gastonia, N.C.–S.C.

Employment growth, 2011–2014: 2.7%

Median home price growth, 2011–2014: 8.4%

  • Dallas–Fort Worth–Arlington, Texas

Employment growth, 2011–2014: 2.9%

Median home price growth, 2011–2014: 8.2%

  • Denver–Aurora–Lakewood, Colo.

Employment growth, 2011–2014: 2.9%

Median home price growth, 2011–2014: 10.8%

  • Grand Rapids–Wyoming, Mich.

Employment growth, 2011–2014: 4%

Median home price growth, 2011–2014: 9.8%

  • Orlando–Kissimmee–Sanford, Fla.

Employment growth, 2011–2014: 3.6%

Median home price growth, 2011–2014: 12.5%

  • Salt Lake City, Utah

Employment growth, 2011–2014: 2.8%

Median home price growth, 2011–2014: 10.3%

  • San Francisco–Oakland–Hayward, Calif.

Employment growth, 2011–2014: 3.2%

Median home price growth, 2011–2014: 16.8%

  • San Jose–Sunnyvale–Santa Clara, Calif.

Employment growth, 2011–2014: 4.1%

Median home price growth, 2011–2014: 15.6%

Source: “The Top 10 Markets Powered by Serious Job-Creation Mojo,” realtor.com® (June 5, 2015)

 I read this article at: http://realtormag.realtor.org/daily-news/2015/06/08/10-housing-markets-fueled-job-growth?om_rid=AACmlZ&om_mid=_BVdcaTB9CahVMK&om_ntype=RMODaily

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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

 

The Most Common Delays Toward Closing

The Most Common Delays Toward Closing

The majority of contracts – 64 percent — are settled on time with no delays to closing, but some REALTORS® acknowledge facing delays or even having contracts terminated for numerous reasons, according to the latest REALTORS® Confidence Index Survey, a survey of more than 1,500 REALTORS®. Twenty-six percent of REALTORS® surveyed identified a delay to settlement, while 10 percent said they have even had a contract terminated prior to closing.

About 60 percent of REALTORS® reported some type of issue on their contract in April. For example, 12 percent of REALTORS® identified a financing issue; 8 percent had home inspection problems surface; and 7 percent had an appraisal issue. Three percent of REALTORS® also identified issues buying/selling distressed property; titling and deed issues; or with contingencies stated in the contract.

“It is surprising that in a ‘tight’ and ‘difficult’ credit environment, only 12 percent of contracts that were reported to have settled or terminated had financing issues,” economists at the National Association of REALTORS® report. “One explanation may be that potential home buyers are deciding to sit on the sidelines for now, so these buyers were not captured in the data.”

Source:”64 Percent of Contracts Are Settled on Time,” National Association of REALTORS® Economists’ Outlook Blog (June 8, 2015)

 

I read this article at: http://realtormag.realtor.org/daily-news/2015/06/09/most-common-delays-toward-closing?om_rid=AACmlZ&om_mid=_BVdzQwB9ChnCwi&om_ntype=RMODaily

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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

Will Lenders Need a Week to Get Closing Docs In?

HAPPY 4TH OF JULY!

 

Changes are coming in lending for Real Estate – thought I would share this article from Daily Real Estate News

Will Lenders Need a Week to Get Closing Docs In?

 

Big changes to the process and forms used in real estate closings are coming August 1 and many real estate professionals are wondering what it will take to ensure closings go smoothly in the new environment.

It falls to lenders to get a new closing disclosure form to buyers within a three-day time frame required by the Consumer Financial protection Bureau, which developed the new procedures and forms. But practitioners will play a key role in ensuring everyone is in communication to  make the process go smoothly. Phil Schulman of K&L Gates in Washington, an expert on federal closing rules, says lenders will likely have to put the closing disclosure form into the mail at least a week before settlement to help ensure the three-day deadline is met. If that’s the case, all the information that goes into the closing disclosure, which replaces the HUD-1 settlement form, will have to be finalized more than a week before settlement, he says. Because lenders will have to use the U.S. Postal Service date stamp as verification of when they sent the form to the buyer.

You can learn more about the issue in NAR’s latest news video, The Voice for Real Estate, which released yesterday.

The video covers other key news events, including NAR’s latest pending home sales release, which says closings are at their highest level in nine years. NAR Chief Economist Lawrence Yun says the trend in pending sales indicates a strong year for sales even though interest rates are likely to tick up this fall. He says the increase in rates should be modest, so sales shouldn’t be impacted much.

Also, NAR just released its 2015 Member Profile, which looks at how real estate professionals are doing, where they get their business, and other trends of interest to the real estate industry. Among other things, the report found the typical real estate professional doing 11 transactions last year, down from 12 the previous year. It also found practitioners jumping into social media in a big way, with almost two-thirds using social media, twice as many from just a few years ago. And among younger real estate pros, social media use is up to 80 percent.

 

 

I read this article at: http://realtormag.realtor.org/daily-news/2015/06/12/will-lenders-need-week-get-closing-docs-in?om_rid=AACmlZ&om_mid=_BVex4kB9Cpzh$V&om_ntype=RMODaily

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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

To future clients of The Caton Team,

It is moments like these where all the handwork of being a Realtor pays off.  I had to share this letter from Josh and Tina.  It truly touched my heart, even made me cry.  Helping our clients and friends attain their financial dreams – actually – their dreams – makes each long night worth every second!  Thank you Josh and Tina for taking the time to write this letter to us.  It was a beautiful way to start my day.  And a wonderful reminder why I do what I do.  Thank you so much – we wish you all the happiness in the world in your new home.  Cannot wait to hand you the keys.

 

To future clients of The Caton Team,

 

The Caton Team is made up of Susan Caton and Sabrina Caton, or as I like to refer to them as the Dynamic Duo of Real Estate. They are trustworthy, honest, straight-forward, and experts in the real estate business. I might be a little biased, because of my friendship with them, but nothing will test a friendship more than the process of buying and selling a home. As everyone knows when you sell your home you want the most money for the least amount of effort and you want the process to be quick and smooth. The Caton Team will make sure you have all of the necessary information and knowledge to understand how to stage your home and what the process will be along with a realistic timeline of what you can expect. If you follow their directions and listen to what they say, your home selling experience will be painless and quick. For us this ended up being less than a week with our home selling for more than what we expected. The entire process from filling out the required paperwork to negotiating went smoothly and was overall painless on our end. At the end of the day we got more than what we wanted and were in a great position to start hunting for a new home.

This brings me to how The Caton Team helped us buy a new home for what we wanted, while making sure that we got the home that we wanted. Since we had already bought and sold our first home with The Caton Team, using them again to buy another house did not require much thought, actually required no thought. We went into the process wanting the best of the best in the best location, because who does not want that for themselves? They were kind enough to listen to our wants and desires and showed us what we could afford in the areas we were looking. It took a few homes to realize that our expectations were not in sync with the market, because currently in early 2015 homes are going like hot cakes and for more than what they are listed at by a fair amount.

This is when we sat down again and started looking at other areas that were just as nice, but we had ignored initially. The important part here is while they mentioned this information early on, they allowed us to realize it on our own that we needed to look outside of our ideal areas if we wanted our dream house. Once we realized what they were saying we expanded our search and found the home that we wanted. After our initial open house we contacted The Caton Team and informed them that we found the home that we wanted. This is when The Caton Team sprang into action, they immediately started requesting all of the disclosures from the seller’s agent and contacted the seller’s agent to gain any additional knowledge that might not be in the supplied paperwork. They then shared this information openly with us, as one would expect, and started laying down the groundwork of what we would need to do if we truly wanted this house. They supplied us with the tools necessary to make an informed decision and provided us with comparable sales (COMPS) in that particular area, so that we would have an idea of what houses were selling for and where the market was heading (spoiler alert, market was only going upwards). Their attention to detail and understanding of the market allowed us to make the best offer we could, while not overbidding or underbidding and making sure that we would have our offer accepted. As you have already guessed, our offer was accepted almost immediately and we are now homeowners of a home that we wanted in an area that is ideal.

If you have made it this far, then you realize why The Caton Team is really The Dynamic Duo of Real Estate. They make sure you are provided with the proper tools and information to make the best decision for yourself. They will work tirelessly with you and will not be a 9-5 agent, they will be honest, trustworthy, and straight-forward. You will not feel like you are getting the short-end of the deal and at the end of the day you will feel great about your decision to work with The Caton Team.

 

-The Liere Family

 

 

 

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

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

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR NEW INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Sabrina BRE# 01413526 / Susan BRE #01238225 / Team BRE#70000218/ Office BRE# 0149900

NEW PILOT PROGRAM FOR REVERSE MORTGAGE ASSISTANCE

NEW PILOT PROGRAM FOR REVERSE MORTGAGE ASSISTANCE

Keep Your Home California recently announced a new pilot program to help low- and moderate-income senior homeowners avoid foreclosure on their reverse mortgages. Senior homeowners who are at risk of losing their home to foreclosure due to delinquent property expenses associated with their Federal Housing Administration (FHA) insured reverse mortgages could qualify for as much as $25,000 in assistance.

 

The Reverse Mortgage Assistance Pilot Program is intended to help financially distressed California homeowners 62 years or older who have a FHA Home Equity Conversion Mortgage (HECM).  Used in conjunction with special counseling that provides services to enable senior homeowners to assess their overall budgetary health, this program is designed to help qualifying seniors manage their delinquent property expenses. These expenses include property taxes and homeowner’s insurance, as well as up to 12 months of additional assistance for future property expenses to ensure homeowners get back on their feet.

 

Senior homeowners must meet the program’s county-by-county income limits and have endured a financial hardship – such as a reduction of income, a divorce, a death in the family or extraordinary medical bills – in order to qualify for assistance. Homeowners must also reside in the home subject to the reverse mortgage and be able to make required property expense payments on a go-forward basis.

 

For More information visit: http://keepyourhomecalifornia.org

Remember to follow our Blog at: https://therealestatebeat.wordpress.com/

Got Questions? – The Caton Team is here to help.  

Email Sabrina & Susan at: Info@TheCatonTeam.com

Call us at: 650-568-5522

Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

Visit our Website at:   http://thecatonteam.com/

VISIT OUR NEW INSTAGRAM PAGE: http://instagram.com/thecatonteam

Visit us on Facebook:   http://www.facebook.com/pages/Sabrina-Susan-The-Caton-Team-Realtors/294970377834

Yelp us at: http://www.yelp.com/biz/the-caton-team-realtors-sabrina-caton-and-susan-caton-redwood-city

Or Yelp me: http://www.yelp.com/user_details_thanx?userid=gpbsls-_RLpPiE9bv3Zygw

Connect with us professionally at LinkedIn: http://www.linkedin.com/profile/view?id=6588013&trk=tab_pro

Please enjoy my personal journey through homeownership at:

http://ajourneythroughhomeownership.wordpress.com

Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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

 

SOLD – 3375 Brittan Ave #7 San Carlos

Good morning readers!  We received two terrific offers last night on 3375 Brittan Ave #7 in San Carlos and are now PENDING!

Please note both open houses have been canceled.  Thank you for your interest.

With any questions – please email me at info@thecatonteam.com

 

Have a great day!

Sabrina

Economic Momentum Drives Consumers’ Optimism Toward Housing Market

Though I am posting this article in March – I am sitting here reading it in February and I have to say I more than agree.  The holiday season is always a slow time of the market – however this January I was surprised at the volume of buyers out there house hunting and in droves!  Our listings all received multiples offers and sold for well over list price.  The open houses in January were packed and they have’t slowed down through February either.  I don’t expect demand to slow down in the Bay Area through the Spring.  So if you are thinking about buying Real Estate this year – give us a call or an email so we can educate you on what it takes to buy on the San Francisco Peninsula.  If you are thinking of selling your home this year – call us ASAP to be ready to take advantage of the best time to come on the market. – Sabrina 650-568-5522 /sabrina_caton@yahoo.com

 

Economic Momentum Drives Consumers’ Optimism Toward Housing Market

Author: Tory Barringer

After suffering a setback in December, American attitudes toward the housing market recovered last month, with more consumers saying it is a good time to get off the sidelines.

Sixty-seven percent of American adults responding to Fannie Mae’s January National Housing Survey said now is a good time to buy a home, the company reported Monday, while 44 percent said now is a good time to sell. Both figures are up from December, when positive responses were at 64 percent and 40 percent, respectively.

Doug Duncan, SVP and chief economist at Fannie Mae, said the country’s current economic momentum played a role in January’s more upbeat views of the housing market.

“Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes,” Duncan said. “Consumers are more optimistic about the environment both for buying and for selling a home today, and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting.”

The share of respondents in Fannie Mae’s survey who said their household income is “significantly higher” than it was a year ago climbed 4 percentage points to a survey high of 29 percent, the company reported. Looking ahead, 48 percent said they expect their finances to improve in the next year, also a survey high.

Overall, 44 percent of Americans said they believe the economy is on the right track, an increase of 3 percentage points and only five points less than those saying the economy is headed the wrong way (49 percent).

That optimism spurred 66 percent of those surveyed to say they would buy a home if they had to move, a jump from 61 percent at the end of 2014. The share of those who would rent, meanwhile, slipped after three months of gains, falling to 29 percent.

“Overall, these are good signs to start off 2015 and are consistent with our expectation that strengthening employment and economic activity will boost the speed of the housing recovery,” Duncan said.

 

I read this article at: http://dsnews.com/news/02-09-2015/economic-momentum-drives-consumers-optimism-toward-housing-market?utm_source=DS+Weekly&utm_campaign=a98b7ac983-DS_Weekly&utm_medium=email&utm_term=0_cc3ebd2b74-a98b7ac983-175410313

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The Signs Look Good…

Consumers’ Positive Financial Attitudes a Good Sign for Housing

 

By Katie Penote

 

WASHINGTON, DC – Consumer optimism toward the housing market gained some momentum last month following a dip in December, likely getting a boost from their increasingly positive financial outlook, according to results from Fannie Mae’s January 2015 National Housing Survey™. The share of respondents who said their household income is significantly higher than it was 12 months ago rose 4 percentage points to 29 percent, and the share expecting their personal financial situation to improve over the next year increased to 48 percent – both all-time survey highs. After dropping in December, the share who said it is a good time to buy a home increased 3 percentage points to 67 percent, and the share saying they would buy rather than rent if they were to move jumped 5 percentage points to 66 percent, marking the first increase since September 2014.

“Consumers are as positive about their personal finances at the start of 2015 as they have been since we launched the National Housing Survey in 2010, and this optimism seems to be spilling over into housing market attitudes,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Consumers are more optimistic about the environment both for buying and for selling a home today, and the share who plan to own on their next move has jumped back up, reversing a three-month trend toward renting. These results are in line with lender optimism about future growth in their mortgage origination business, as shown in our Mortgage Lender Sentiment Survey™. Overall, these are good signs to start off 2015 and are consistent with our expectation that strengthening employment and economic activity will boost the speed of the housing recovery.”

SURVEY HIGHLIGHTS

Homeownership and Renting

  • The average 12-month home price change expectation rose to 2.5 percent.
  • The share of respondents who say home prices will go up in the next 12 months rose to 49 percent. The share who say home prices will go down remained constant at 8 percent.
  • The share of respondents who say mortgage rates will go up in the next 12 months decreased by 3 percentage points to 45 percent.
  • Those who say it is a good time to buy a house increased to 67 percent. Those who say it is a good time to sell increased to 44 percent—tying an all-time survey high.
  • The average 12-month rental price change expectation decreased to 3.6 percent.
  • The percentage of respondents who expect home rental prices to go up in the next 12 months fell slightly to 52 percent.
  • The share of respondents who think it would be easy to get a home mortgage today fell to 50 percent, while the share saying it would be difficult to get a mortgage rose 3 percentage points to 47 percent.
  • The share who say they would buy if they were going to move rose to 66 percent, while the share who would rent decreased 5 percentage points to 29 percent.

The Economy and Household Finances

  • The share of respondents who say the economy is on the right track increased by 3 percentage points to 44 percent.
  • The percentage of respondents who expect their personal financial situation to get better over the next 12 months increased to 48 percent—an all-time survey high.
  • The share of respondents who say their household income is significantly higher than it was 12 months ago rose 4 percentage points to 29 percent—an all-time survey high.
  • The share of respondents who say their household expenses are significantly higher than they were 12 months increased to 35 percent.

The most detailed consumer attitudinal survey of its kind, Fannie Mae’s National Housing Survey™ polled 1,000 Americans via live telephone interview to assess their attitudes toward owning and renting a home, home and rental price changes, homeownership distress, the economy, household finances, and overall consumer confidence. Homeowners and renters are asked more than 100 questions used to track attitudinal shifts (findings are compared to the same survey conducted monthly beginning June 2010). To reflect the growing share of households with a cell phone but no landline, the National Housing Survey has increased its cell phone dialing rate to 60 percent as of October 2014. For more information, please see the Technical Notes. Fannie Mae conducts this survey and shares monthly and quarterly results so that we may help industry partners and market participants target our collective efforts to stabilize the housing market in the near-term, and provide support in the future.

For detailed findings from the January 2015 survey, as well as technical notes on survey methodology and questions asked of respondents associated with each monthly indicator, please visit the Fannie Mae Monthly National Housing Survey page on fanniemae.com. Also available on the site are in-depth topic analyses, which provide a detailed assessment of combined data results from three monthly studies. The January 2015 National Housing Survey was conducted between January 1, 2015 and January 22, 2015. Most of the data collection occurred during the first two weeks of this period. Interviews were conducted by Penn Schoen Berland, in coordination with Fannie Mae.

 

Opinions, analyses, estimates, forecasts, and other views of Fannie Mae’s Economic & Strategic Research (ESR) Group included in these materials should not be construed as indicating Fannie Mae’s business prospects or expected results, are based on a number of assumptions, and are subject to change without notice. How this information affects Fannie Mae will depend on many factors. Although the ESR Group bases its opinions, analyses, estimates, forecasts, and other views on information it considers reliable, it does not guarantee that the information provided in these materials is accurate, current, or suitable for any particular purpose. Changes in the assumptions or the information underlying these views could produce materially different results. The analyses, opinions, estimates, forecasts, and other views published by the ESR Group represent the views of that group as of the date indicated and do not necessarily represent the views of Fannie Mae or its management.

 

Fannie Mae enables people to buy, refinance, or rent homes.

Visit us at: http://www.fanniemae.com/progress.

 

I read this article at: http://www.fanniemae.com/portal/about-us/media/corporate-news/2015/6217.html

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Got Questions? – The Caton Team is here to help.  

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Want Real Estate Info on the Go? Download our FREE Real Estate App:  http://thecatonteam.com/mobileapp

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Thanks for reading – Sabrina

The Caton Team – Susan & Sabrina – A Family of Realtors

Berkshire Hathaway HomeServices – Drysdale Properties

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