Category: The Caton Team Realtors

8 Things Your Realtor Does Behind Your Back

This article made me laugh – because yes – being a Realtor is part mystery, part tough negotiator. I thought this was a nice article to share since a few of you are curious, a few want to be Realtors and a few just need to know. Of course I added my two cents in bold italics.

8 Things Your Realtor Does Behind Your Back

 Have you ever wondered what on Earth your real estate agent is doing behind your back?

No, we don’t mean anything underhanded, naughty, or downright felonious—far from it, in fact. So relax. What we’re talking about is a mystery: In the sometimes confusing, occasionally hectic, and always stressful world of buying and selling, what are your agents really doing behind the scenes?

We’re here to shed some light! For every hour an agent spends in your presence, he or she will spend an average of nine hours out of eyesight working on your behalf. Why? Because agents don’t get paid if they don’t close the deal! Unlike lawyers who bill by the hour, agents won’t receive a penny until (or unless) a sale comes through. It’s all a gamble, in which they could shoot snake eyes and come away empty-handed. This is the business.

So if you’re wondering what that 6% commission is actually going toward, we’ve compiled a list of things agents do when you’re not watching (or should be doing—if they’re not, maybe you need a different agent!).

They shop property online

Don’t we all? And yet, their real estate research goes beyond oohing and ahhing over a few photos on a Saturday night. Darbi McGlone, a Realtor® with Jim Talbot Realty in Baton Rouge, LA, estimates she spends about two hours each day researching potential properties.

“This could include looking up flood zones, previewing the homes for out-of-state clients, or any number of specific things,” she says.

Plus, listings come and go fast in the real estate world, so agents need to check their multiple listing service database constantly, or else they’ll miss out. Sometimes the process of matching up properties with clients can take a very long time.

“I have a client who wants a Mid-Century Modern house in Carlsbad, but there aren’t many there,” says Rachel Collins Friedman, a Realtor with Sotheby’s International Realty in San Diego, CA. That means that she’s been searching the database regularly for that particular kind of property for three years (here’s hoping all that patience pays off).

This my friends is what takes up all our time.  And we are doing it at midnight and 5 AM too.  When we hunt for a home for our clients, we get just as excited and absorbed.  We share in the frustrations and excitement too.  Wouldn’t trade it for the world.

They go prospecting

Of course, there’s nothing like seeing a house in all its brick-and-mortar glory, which is why most Realtors worth their salt spend tons of time driving around checking out new listings. In Friedman’s San Diego area, they call it “caravan day.”

“It’s a good way to preview properties, and it’s a good time to network with other agents and talk up your listing,” she says.

In San Mateo County – Tuesday is Tour Day.  It might just be my favorite day of the week, since I Love Love LOVE looking at homes.

They attend pitch sessions

Agents don’t spend all their time sizing up homes. According to Friedman, they also spend tons of face time with other pros at pitch sessions—gatherings of local agents at cafes where they swap listing info in order to spread the word about your property if you’re selling, or to find the house that checks every box on your wish list if you’re buying.

Networking is a huge part of being a Realtor.  And these days, with so many pocket and off market listings – you’ve got to rub elbow!

They spend their own money on marketing

In addition to not getting paid until a deal is done, selling agents also spend their own money on marketing: magazine and newspaper ads, fliers, hiring a photographer, glossy prints, and premium placements on listing sites.

“Agents can spend thousands marketing a property,” says Friedman.

Yes, yes we do.  We spend money even when we don’t make money.  But savvy agents, myself included – know where to get the most bang for our bucks.  

They write up offers and counteroffers

Offers and counteroffers are an extremely important part of the transaction, as they can save or net you thousands of dollars on a sale. Yet getting to the right price requires written offers and counteroffers every step of the way.

“It’s time-consuming to be writing them up, explaining to the client how to counteroffer and the ways to do so, and just keeping track of it all,” Friedman says.

Just so you know – it takes us about 8 hours to write a complete and thorough offer – and that includes ALL the disclosure signed with the offer.  The offer itself is a cinch to write up – well The Caton Team has written thousands of offers in our over 30 years of combined real estate experience.   But what sets our offers apart – is the signed disclosures package.  So not only do we read those millions of documents, we also make sure our clients have read and signed it too.  

They stick around for inspections

You might not be present when it’s inspection time, but a good agent will be. This gives the agent an immediate knowledge of what’s going on. Anything from termites to an iffy foundation can be relayed to the buyer immediately, according to Friedman. McGlone estimates inspections take roughly two hours.

Oh yes.  Inspection time is most important – especially when your client cannot take the time off work.  The Caton Team is present during inspections, with our questions outlined and ready to observe.  

They smooth bumps in the road

Not every sale goes smoothly—buyers and sellers get difficult all the time—but good agents try to shield their clients from the high drama unless there’s a reason to fill them in.

“It’s called putting out fires,” says McGlone. “It’s just fixing issues that a lot of times buyers and sellers never needed to be made aware of.”

They keep you calm when the pressure’s on

Good agents don’t just hand you a house. They can also act as a therapist, making your sale much less stressful.

“People get emotional. You have to be a problem-solver and keep a positive approach and come up with a positive solution,” Friedman says. “It might not take a lot of time, but it takes emotional energy.”

Tell that to your therapist.

Yes, we will stand by you through it all!  What can The Caton Team do for you?

I read this article at: http://www.realtor.com/advice/buy/what-realtors-do-to-earn-commission/?identityID=9851214&MID=2016_01_MonthlyNewsletter-ctl&RID=353497822&cid=eml-2016-01-MonthlyNL-sub4_realtorisupto-blogs_buy

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

National Association of Realtors: Expect a More Modest Market in 2016

NAR: Expect a More Modest Market in 2016

 From: DAILY REAL ESTATE NEWS

In 2015, the housing market reached its best year in nearly a decade, but 2016 will likely see a slowdown in many housing markets across the country. Home sales are forecasted to increase this year, but at a more moderate pace, “as pent-up demand combats affordability pressures and meager economic growth,” says Lawrence Yun, chief economist for the National Association of REALTORS®.

Yun says pent-up demand, sustained job growth, and improving inventory conditions will be the main triggers pushing the expected gains in new and existing-home sales this year.

However, Yun cites rising mortgage rates, home prices that still outpace wage growth, and a fragile global economy as the main challenges that could hold back a stronger pace of sales this year.

“This year, the housing market may only squeak out 1 to 3 percent growth in sales because of slower economic expansion and rising mortgage rates,” Yun says in a new video released highlighting his expectations for the housing market in 2016. “Furthermore, the continued rise in home prices will occur due to the fact that we will again encounter housing shortages in many markets because of the cumulative effect of homebuilders under producing for multiple years. Once the spring buying season begins, we’ll begin to feel that again.”

Yun, still crunching the final month of data for 2015, expects that existing-home sales will finish the year up 6.5 percent from 2014. That marks the highest since 2006 but is about 25 percent below the prior peak set in 2005 (5.26 million sales estimated in 2015 compared to 7.08 million in 2005).

Home prices were also up. The national median home price for existing homes is expected to near $221,200 for 2015 — about 6 percent higher than 2014. In 2016, existing-home sale prices are projected to rise between 5 and 6 percent, Yun notes.

To watch the video from The National Association of Realtors by Mr. Yun please visit: http://realtormag.realtor.org/daily-news/2016/01/13/nar-expect-more-modest-market-in-2016?om_rid=AACmlZ&om_mid=_BWlrrVB9JySAyz&om_ntype=RMODaily

I read this article at: http://realtormag.realtor.org/daily-news/2016/01/13/nar-expect-more-modest-market-in-2016?om_rid=AACmlZ&om_mid=_BWlrrVB9JySAyz&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

 

 

Check Out These 8 Surprising Predictors of Housing Prices

Oh this was a fun article to share – we call it the TJ effect.  

Enjoy – Sabrina 

Check Out These 8 Surprising Predictors of Housing Prices

Like investors in the stock market, 1933 Saint Gaudens Double Eagle coins, or orange juice futures, home buyers and owners want to know which way prices are heading. Are valuations heading up, up, up, making it the perfect time to buy? Or are they beginning a precipitous decline from their peak—making it high time to sell? To read the tea leaves, they might focus on the latest jobs reports, check out what’s going on in other markets, or scrutinize the writings of economists.

But when it comes to nailing the best deal in real estate, you can get a jump on the competition! Inside-track insights can be found in the most unusual places—such as on a grocery run, or at the gas pump. We’ve rounded up eight surprising indicators of change in home prices. Do they play a role in pushing the numbers skyward or down into the dirt? Or are they false prophets? We’re here to help you sort it out!

  1. Gas prices

Sure, it feels fantastic to fill up your car with gas for just $35 when it used to cost almost $50. But if you’re looking to buy a home, the financial benefit of cheap gas might be overrated—as gas prices fall, home prices inevitably go up. And homes sell faster, too, which takes a toll on available inventory.

For every $1 decrease in gas prices, home prices increase by roughly $4,000 and the average time to sell a property decreases by 25 days, according to a study by Longwood University and Florida Atlantic University.

Lower gas prices lead to increased consumer confidence and more disposable income for potential buyers, Longwood professor Bennie Waller explains. In addition, the listing broker—who has to travel between properties—is more likely to market more aggressively and have more showings when gas is cheap.

  1. Trader Joe’s vs. Whole Foods

When it comes to healthy eats, cost-conscious gourmet market Trader Joe’s and pricey, environmentally conscious Whole Foods each have their own massive cult following. But it turns out, if you’re seeking a neighborhood where homes are worth more—and gaining in value—you’d better know which store to look for.

Homes near the two foodie superstores significantly trump the national average home value, but homes near a Trader Joe’s are worth 5% more than homes near a Whole Foods, according to RealtyTrac. So close, Whole Foods!

Homes near a Trader Joe’s also appreciate faster, with an average appreciation rate of 40% from the time of purchase. Meanwhile, homes near a Whole Foods appreciated 34%, the same as the national average. So even if you do tend to shop at “Whole Paycheck,” you’d probably do better to buy a home near TJ’s—and load up on some Two-Buck Chuck while you’re at it.

  1. Sports facilities

Walking distance to the big game? Score! Living near a stadium clearly is not a hard sell for sports fans, but even those without an obsessive rooting interest in the local teams should pay close attention if there’s a major sports facility nearby.

Moving a residential housing unit one mile closer to a professional sports facility increases its value by $793. But the effect disappears after four miles, according to researchers at the College of William and Mary and University of Alberta, who extracted property data within 5 miles of every NFL, NBA, MLB, and NHL facility in the U.S. So sidle up to that stadium—just be sure you have a dedicated parking space.

  1. Marijuana

The legalization of marijuana was predicted to have a major impact on state tax revenues, and with people relocating to take advantage of its medical benefits or just because they enjoy a regular toke, some have suggested that legal pot might also push up real estate values.

Marijuana’s impact on housing is a tale of two states: Colorado and Washington, the only ones that have legalized the sale of recreational marijuana.

The buzz is felt more in the real estate market of Colorado. Since the doors opened for recreational sales in January 2014, housing prices have appreciated 20.4%, much higher than the 15.2% across the country over the same period.

Marijuana sales in Washington are more modest, and so is the real estate growth. The state’s housing prices have risen by 7.3% since it launched its legal marijuana market in July 2014—the height of the yearly housing market—while at the national level, they increased 6.5% over the same period. (Keep in mind that housing prices are generally lower in the winter and higher in the summer, the purpose is not to compare the numbers of Colorado to Washington).

Of course, it’s hard to say whether the legalization of marijuana is really driving those numbers. After all, both Denver and Seattle are hubs for tech businesses that are fueling employment, which in turn fuels the housing market. But if you already own a home in Colorado or Washington, you’ve got plenty of reasons to be mellow and to listen to “Dark Side of the Moon” on a continuous loop.

  1. Temperature change

Global warming affects not only nature, but also our daily lives and housing decisions. The National Association of Realtors® looked at home prices and temperature change over the past four years and found what seemed to be a negative correlation between temperature increase and housing prices.

National Association of Realtors

Out of the 82 markets studied, those with the highest gains in housing prices typically had a small increase in temperature (up to 2 degrees Fahrenheit). For example, in Atlanta, GA, the temperature increased 1 degree while house prices increased 78%. But markets where the temperature rose more than 3 degrees did not experience significant price gains, such as Little Rock, AR.

  1. Casinos

Part of Las Vegas’ legendary success story is that casinos brought wild prosperity to a barren desert area. But in fact, Sin City is an American anomaly in just about every way imaginable, not the least of which are real estate valuations. The truth is, casinos across the country, from riverboats to Native American reservations, usually have a negative impact on surrounding home values—by 2% to 10%, according to various studies.

One case study showed that in Henderson, NV, properties within a mile of a proposed large-scale casino would see their values fall by $9,200. Snake eyes!

  1. Highways

Is it a good idea to live close to the highway? Yes … and no. It depends on just how close we’re talking.

A case study of the Superstition Freeway (U.S. Route 60) corridor in Mesa and Gilbert, AZ, showed that single-family homes within 0.5 miles of the freeway were adversely impacted. But the negative impacts were more than offset by housing price appreciation in the surrounding areas. Average sales price appreciation for homes within 5 miles of the freeway (including negatively affected properties) was higher than the whole metropolitan area. So while you probably don’t want to buy right by an exit ramp, easy access to a transportation corridor is definitely a strong selling point.

  1. Trees on the street

Everyone knows that stately old-growth trees add major charm to a neighborhood—and are probably an indicator of more expensive homes. But did you know just how expensive? A recent study found that houses on streets where there were trees fetched an average of $7,130 more than houses on treeless streets. Maybe it’s time to consider branching out.

What do you think improves a homes value in your area?  Let The Caton Team know – we’d like to hear your opinion!  

 

I read this article at: http://www.realtor.com/news/trends/eight-surprising-things-that-impact-property-values/

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

Here’s why 2016 will bring good news for potential homebuyers…

I find it important to share articles I come across to educate my clients and readers.  I often write my own blog entry – but find sharing information much more powerful than standing on a soap box.  Enjoy this article from Redfin found on Housingwire.  ENJOY! – Sabrina I’ve added my 2 cents in bold italics.

Here’s why 2016 will bring good news for potential homebuyers

Next year isn’t predicted to bring any giant hoopla to set off the market. However, moderate growth is more sustainable, and better for buyers.

According to Redfin’s forecast for 2016, “Most economists agree that housing prices and sales will continue to grow in 2016, just at a slower pace. Call it a slowdown, but not bad news.”

The New Year doesn’t bring all good news, with some bad tossed in the mixed. Overall, Redfin said, “All things considered, we see a fairly uneventful housing market next year.”

Here are Redfin’s five housing market predictions for 2016:

  1. Prices and sales will grow half as fast

As price growth ebbs and mortgage rates rise, more homeowners will stay put. Sales will grow about half as fast as they did this year and prices will rise at a more normal 3.5% to 4.5%, down from almost 6% this year.

According to a recent report from RealtyTrac, for more than a third of the nation’s major metro areas, home prices have reached all-time highs in 2015.

Here on the SF Peninsula housing demand is very high with so much job growth and inventory is very low.  I expect more of the same in 2016.

  1. Easier Credit

Americans for whom a mortgage has been just out of reach will have a better shot at qualifying for one in 2016.

Lenders will embrace new ways to measure creditworthiness and mortgages will evolve to serve a changing American household. For example, credit scores will better evaluate a person’s rental history and utility bill payments. More loans will allow buyers to include income from room rentals, live-in parents and extended-family members.

In a significant move for housing regulation, last week a bill was introduced in the House of Representatives that would allow Fannie Mae and Freddie Mac to consider alternative credit-scoring models beyond the FICO credit score the government-sponsored enterprises currently use when determining what loans to purchase.

Yes, since the housing crash years back, lending as improved.  That doesn’t mean it is easy – it is tedious to say the least.  But it is for the overall well being of our market.  If you are thinking about buying a home – please get a full pre-approval completed with your lender of choice.  Understand your budget and adjust your wants/needs list accordingly.  

  1. More (and older) first-time buyers

We expect first-timers to make up a bigger portion of the market than they did this year. The reason is simple: The market will be more welcoming to them thanks to the aforementioned slowing price growth and easier access to loans. This year’s market dropouts have saved for bigger down payments and will be ready to give the market another shot early next year. And more of those millennials who had been holding off on buying for various reasons will finally be ready and able to in 2016.

In the Mortgage Bankers Association’s housing report that looks at the future decade, Lynn Fisher, MBA’s vice president of Research and Economics, said, “Improving employment markets will build on major demographic trends – including maturing of Baby Boomers, Hispanics and Millennials – to create strong growth in both owner and rental housing markets over the next decade.”

Oh yes, as those effected by the crash heal their credit and save their money – there will be a new influx of buyer coming into the market – again for the very first time.  We will also see millennial buyers investing in real estate.

  1. Slower market, slowing closings

The 2015 housing market was the fastest we’ve seen at Redfin. From January to October, the typical home was on the market for 36 days, four days faster than the same period in 2014. We expect the market to slow in 2016 as government-backed loans become more common and cash sales become less so. Because of low inventory, bidding wars will still be in force next year, but there will be a lower ceiling on price escalation as 2016 buyers won’t be willing or able to go as high as buyers have in recent years.

To help, here are a few tips from Minnesota Realtor Craig Kamman to help win a bidding war. On example he listed is to offer full price or more. Money is a major factor in a seller’s decision, but not the only one.

I also feel the changes in lending, that went into effect in October of 2015 – will slow down the pace of the market a tad.  Though we do see many all cash buyers on the SF peninsula who will not be tied to loan regulations.  That doesn’t mean cash is supreme king – but it does mean buyers with loans will have to set themselves apart.  The Caton Team as a tool box of tactics we use to help our buyers.  

  1. Continuing inventory shortage

The biggest risk to the 2016 market will be the continuation of inventory shortage, especially in the affordable segment of the market. The number of homes for sale shrank from 2014 to 2015 in 45 of the 60 metro tracked by Redfin. Inventory across all 60 metros is down 4 percent from a year ago.

The most recent pending home sales report from the National Association of Realtors said that sales have plateaued this fall as buyers struggle to overcome a scant number of available homes for sale and prices that are rising too fast in some markets.

The SF Peninsula has limited land.  I have already seen many homeowners add onto their existing homes instead of jumping into the buyer pool  Which also effects our inventory.  

My advice – if you want to be a SF Peninsula owner – do not give up so easy.  Each home on the market is a unique opportunity and should be treated as such.  It is a journey – not a race.  Call or click The Caton Team to learn more about buying and owning property in Silicon Valley.

I read this article at: http://www.housingwire.com/articles/35823-heres-why-2016-will-bring-good-news-for-potential-homebuyers

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

 

Equity Share – How to Make Home Ownership Happen

As I mentioned in last weeks blog – I’d have an idea how to work around this “rent is too high & I can’t save money for a down payment” mess. Below is an article that when I saw it posted on Facebook – I knew the fella was hurting, frustrated and upset that he wasn’t born on the “rich” side of town. And upon first read – I too was upset! Then I recalled – it’s just how life is – so stop beating yourself up for your lack of royal blood, stop being angry you don’t have more money – and start thinking outside the box. 

The biggest hurdle I see theses days, myself included, is saving money for the down payment. Around here, the San Francisco Bay Area – the median home price is $791,000 if it is priced under 1 million and $4,234,000 for homes priced over 1 million. So, let’s focus on those first time buyers homes – priced at around $800,000 – that would take $160,000 for 20% down, which is conventional financing and as low as $40,000 for 5% down loans – which usually require more than one loan to purchase the home. So needless to say – that’s a lot of dough!

 And just so you know – you need another 3% (about $24,000) of the purchase price for closing costs – so really a buyer needs to save about 25% to get into the market.  Yikes, all that saving while trying to rent a closet in the bay area is liable to frustrate anyone.

So let’s think outside the box. Real Estate is one of the best investments because in general – it has always appreciated. Forget the financial crises of 2007 – real estate is a cycle, and what goes up can go down – but in the long run – which is how you need to look at all real estate investments – real estate appreciates.

So now is the time to pool your resources. How you ask? Find family, friends or investors who are willing and able to help you with the down payment. The idea is called – Equity Sharing – the easy explanation is – you find an investor – who is willing to give you – for example 15% of the down payment while you contribute 5% – to obtain the 20% down requirement. Now, in order to do this right – you need to hire a real estate attorney to draft an agreement between both parties outlining everyone’s responsibilities in said partnership and how the gains will be disbursed.

So the easy explanation goes like this: Investor contributes 15% of the purchase price to buyer. Buyer contributes 5% and all closing costs. Buyer becomes the owner of the home. Investor carries a note or lien on the property. Buyer will then move into home, pay mortgage, taxes and insurance. Buyer will maintain home. Buyer can improve upon home. Per the partnership agreement – in 10 years buyer will need to sell home or pay back the down payment loan. 

Here is where the equity comes into play. Let’s say – year 1 the home was worth $800,000 and the investor contributed 15% ($120,000). In year 10 the home is now worth $1,500,000. The home appreciated a total of $700,000. That 15% initial investment will now give the Investor – $225,000 in their pocket (15% of the new value of $1,500,000. Nearly doubling the initial investment!

Now this is a very simple example. There are many variables to this as each equity share partnership is different. The idea of Equity Share is to get buyers into home ownership when otherwise it could take them 30 years just to save up for the down payment. 

Now, this could work in more ways than one. A group could purchase a duplex or apartment building. Perhaps they all live there; perhaps part is owner-occupied and part is rented out. The idea here is to pool resources to obtain at minimum a 20% down payment and own real estate and watch it appreciate. I could go on and on with different scenarios – so if you are interested, curious, or have more questions please feel free to email me or call me – info@TheCatonTeam.com – 650-568-5522

Thank you for reading. Now enjoy this article that made me start thinking outside the box!

Millennials who are financially thriving have one characteristic in common

Millions of America’s young people are really struggling financially. Around 30 percent are living with their parents, and many others are coping with stagnant wages, underemployment, and sky-high rent.

And then there are those who are doing just great—owning a house, buying a car, and consistently putting money away for retirement.

These, however, are not your run-of-the-mill Millennials. Nope. These Millennials have something very special: rich parents.

These Millennials have help paying their tuition, meaning they graduate in much better financial shape than their peers who have to self-finance college through a mix of jobs, scholarships, and loans.

And then, for the very luckiest, they’ll also get some help with a down payment, making homeownership possible, while it remains mostly unattainable for the vast majority of young adults.

To start with, most of those who continue their education after high school have families that are able to help financially. A recent report from the real-estate research company Zillow looked at Federal Reserve Board data on young adults aged 23-34 and found that of the 46 percent of Millennials who pursued post-secondary education (that’s everything from associates degrees to doctorates), about 61 percent received some financial help with their educational expenses from their parents.

And yet, even with this help, the average student with loans at a four-year college graduates with about $26,000 in student-loan debt. Millennials who are lucky enough to have some, or all, of a college tuition’s burden reduced by their parents have a leg up on peers who are saddled with student debt, and they’ll be able to more quickly move out on their own, and maybe even buy their own house.

And that matters a lot in the long run: While many remain skeptical about the real-estate market, homeownership is still the primary way that Americans build wealth. But first-time buyers—a group generally made up of younger adults—have been scarce since the recession.

And research indicates it’s not because many of them want to remain renters, but because they just simply can’t save up enough for a down payment, especially not the down payments needed in the expensive urban markets where so many Millennials prefer to live. According to Svenja Gudell, the senior director of economic research at Zillow, “There’s a ton of people out there who want to buy. In our most recent survey in the beginning of the year, we had 5.3 million renters interested in buying over the next year.”

But, because of their student-debt loads, they cannot. “When it comes to taking out a mortgage, they aren’t able to carry that mortgage payment because they have very chunky payments to make to the lenders of their student loans. So that’s certainly holding Millennials back along the way,” Gudell says.

A recent study by the real-estate company Trulia laid it out this way: Imagine an individual who earns $50,000 and is shopping for a $200,000 home (the median U.S. income and house price). This person would like to put 20 percent down.

If he or she follows the popular financial advice to save 10 percent of his or her annual pay, it’ll take him or her about eight years to have that down payment ready to go. If that same person has $26,000 of student debt, which means monthly payments of $280 based on a 10-year repayment plan, it’ll take this person closer to nine years.

But even these numbers are optimistic, with many Millennials owing monthly payments much more than $280 per month, and making much less than $50,000 a year. And in many markets, a $200,000 house is hard to come by. In some of the priciest areas, such as San Francisco, it would take those with a college degree and student loans nearly 30 years to save up enough for a 20 percent down payment. For those without the wage boost that a degree brings, it probably won’t be possible at all.

According to Zillow, 43 percent of Millennials who got help from their parents in paying for school were also able to become homeowners. According to Census data the homeownership rate for all young adults was about 36 percent in 2014.

Then there is the group that the Zillow study dubs “double lucky.” These are the select few whose families had enough money to not only help them with college, but to then also assist them with a down payment on a home. This group accounts for more than half of the Millennial homeowners in the Zillow’s data, though they account for only 3 percent of the total Millennial population.

Only about 9 percent of Millennials whose parents were able to contribute to their post-high school education were also able to help them purchase a home—and the group that had such significant help is an incredibly low percentage of the total Millennial population.

The study calls this a “funnel of privilege”: Young adults with rich parents soon become rich themselves.

“Haves are turning their riches or their wealth into bigger wealth because they are investing in the housing market by simply living in a house,” says Gudell. This advantage is one that these Millennials will carry forward as they earn more than their degree-less peers, and save more than those who were forced to throw away tens of thousands of dollars on rent due to their inability to buy. In the future, they’ll have wealth to pass down to their own kids, continuing the cycle.

Read the original article on The Atlantic. Check out The Atlantic’s Facebook, newsletters and feeds. Copyright 2015. Follow The Atlantic on Twitter.

By: GILLIAN B. WHITE, THE ATLANTIC

I wrote a portin of this blog – the article I read this article at: http://www.businessinsider.com/millennials-who-are-financially-thriving-have-one-characteristic-in-common-2015-7

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

This Isn’t a Housing Bubble: Here’s Why

There has been a lot of talk whether or not the San Francisco Bay Area Real Estate is in a bubble.  One by one I have spoken with clients, friends and colleagues about this concern.  Below is a great, quick article about the market.  And here is my 2 cents.  Not long ago we were in the gloom of a crashed market.  Back in 2009 – 2011 no one wanted to buy real estate for fear it would never recover.  Boy has it!  In the Bay Area we have far exceeded anyones expectation of recovery.  We are booming right now.  What fuels our growth is a strong job economy in the tech world, ample cash, low supply and over demand.  Much of the home sales are going cash – no worry of crashing lenders here.  These homes are selling with multiple offers and for cold hard cash.  There is a huge influx of foreign money too.  And I know there is talk that the foreign markets are wavering – but we all need a place to live and well – why not here!  The most gorgeous place on the planet!  (In my humble opinion as a California native).  Enjoy the article below – call or email me if you have questions.  And if you are thinking of buying or selling your home – The Caton Team is but a call or click away. 

Info@TheCatonTeam.com  /  650-568-5522

Happy Reading,

Sabrina

This Isn’t a Housing Bubble: Here’s Why

DAILY REAL ESTATE NEWS

Home prices are rising rapidly, but economists are deflating concerns that another “housing bubble” is brewing.

A recent report from CoreLogic shows that twice as many metro markets are considered “overvalued” – prices are inflated relative to incomes — in the second quarter of this year compared to the first three months of the year. But economists say it’s not a housing bubble because bubbles eventually burst and home prices this time around aren’t likely to fall.

“Just because you’re overvalued doesn’t mean that you’re in a bubble or there is an impending crash,” says Sam Khater, CoreLogic’s deputy chief economist. “Some markets are overvalued because of strong fundamentals.”

The National Association of REALTORS® reported that the national median sales price is now above its 2006 peak. The median existing-home price for all housing types reached $236,400 in June – 6.5 percent above year ago levels and surpassing the peak median sales price set in July 2016 at $230,400, according to NAR.

CoreLogic’s recent report shows that home prices in 14 of the largest 100 markets have now risen above its long-term fundamental values – with six of these markets in Texas alone. Housing demand is strong and supply has been near record lows, which has paved the way for price increases among the state’s strong economy.

About 10 years ago, a housing bubble was being fueled by free and easy mortgage credit – not the case today, CNBC reports. Today, strong demand and weak supply is driving the rise in prices.

“Agents continue to highlight buyers’ growing frustration with rising prices, but see current levels largely supported by tight inventory conditions,” according to a monthly survey of real estate professionals by Credit Suisse.

Source: “Frothy, Yes, But Don’t Call it a Housing Bubble,” CNBC (Sept. 15, 2015)

I read this article at:  http://realtormag.realtor.org/daily-news/2015/09/17/isn-t-housing-bubble-here-s-why?om_rid=AACmlZ&om_mid=_BV$vieB9FsN65L&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

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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

Changes in Water Heater Efficiency Standards & Size…

There are changes in the size of your standard water heater that could pose a problem for condos and mobile homes owners where the location of the water heater cannot be changed or modified due to the new size of a standard efficient water heater.  Please read…. 

 

Water Heaters

Product Information 

Residential water heaters use oil, gas, or electricity to heat potable water to be used for such activities as bathing or washing dishes or clothes. Residential water heaters include storage type units that store heated water in an insulated tank and instantaneous type units that heat water on demand.

Water heating is typically the second largest energy use in a home, after heating and cooling, and can account for 14%-25% of household energy consumption. In the United States energy consumed by residential water heaters accounts for 11% of the electricity and 24% of the natural gas consumed in the residential sector. However, residential hot water use is variable and depends on the number of people in the household, the type of appliances, and the climate in which the house is located.

Current Standards

Gas-fired ( 75 kBtu/h input capacity), oil-fired ( 105 kBtu/h input capacity), electric ( 12 kW input capacity), and tabletop ( 12 kW input capacity) storage water heaters, as well as instantaneous gas-fired (<200 kBtu/h input capacity) and electric ( 12 kW input capacity) water heaters, manufactured and distributed in commerce must meet the energy conservation standards specified in Table 1 as of January 20, 2004.

Amended Standards

On March 31, 2010, the U.S. Department of Energy (DOE) completed the second rulemaking to amend energy conservation standards for residential water heaters, issuing a final rule. Residential water heaters must comply with the amended standards in Table 2 by April 16, 2015.

Table 1. Energy Conservation Standards for Residential Water Heaters

Product Class Rated Storage Volume Energy Factor
Gas-fired Water Heater 20 gal and 100 gal 0.67 – (0.0019*Vs)
Oil-fired Water Heater 50 gal 0.59 – (0.0019*Vs)
Electric Water Heater 20 gal and 120 gal 0.97 – (0.00132*Vs)
Tabletop Water Heater 20 gal and 100 gal 0.93 – (0.00132*Vs)
Instantaneous Gas-fired Water Heater < 2 gal 0.62 – (0.0019*Vs)
Instantaneous Electric Water Heater < 2 gal 0.93 – (0.00132*Vs)

Vs: Rated Storage Volume – the water storage capacity of a water heater (in gallons).

Table 2. Amended Energy Conservation Standards for Residential Water Heaters

Product Class Rated Storage Volume Energy Factor
Gas-fired Water Heater 20 gal and 55 gal 0.675 – (0.0015*Vs)
> 55 gal and 100 gal 0.8012 – (0.00078* Vs)
Oil-fired Water Heater 50 gal 0.68 – (0.0019*Vs)
Electric Water Heater 20 gal and 55 gal 0.960 – (0.0003*Vs)
> 55 gal and 120 gal 2.057 – (0.00113*Vs)
Tabletop Water Heater 20 gal and 100 gal 0.93 – (0.00132*Vs)
Instantaneous Gas-fired Water Heater < 2 gal 0.82 – (0.0019*Vs)
Instantaneous Electric Water Heater < 2 gal 0.93 – (0.00132*Vs)

Vs: Rated Storage Volume – the water storage capacity of a water heater (in gallons).

The efficiency metric for residential water heaters is the energy factor (EF), which indicates a water heater’s overall energy efficiency based on the amount of hot water produced per unit of fuel consumed over a typical day. The EF accounts for the following:

  • Recovery efficiency – how efficiently the heat from the energy source is transferred to the water
  • Standby losses – the percentage of heat loss per hour from the stored water compared to the heat content of the water (for water heaters with storage tanks)

Cycling losses – the loss of heat as the water circulates through a water heater tank, and/or inlet and outlet pipes.

Energy Efficiency Standards Information

For more information, see the DOE’s Appliance and Equipment Standards for this product.

To see all federal notices, public comments, public meeting transcripts, and supporting documents, see the Regulations.gov Docket for this product.

Contact: Alex Lekov (510) 486-6849

Test Procedure Information

Docket Number:

EERE-2011-BT-TP-0042

To see all federal notices, public comments, public meeting transcripts, and supporting documents, see the Regulations.gov Docket for this test procedure.

On November 4, 2013 DOE published a notice of proposed rulemaking regarding test procedures for residential water heaters and certain commercial water heaters. The proposed test method would apply the same efficiency descriptor to all residential and certain commercial water heaters, and it would extend coverage to eliminate certain gaps in the current residential test procedure, update the simulated-use-test draw pattern, and update the water delivery temperature requirement.

 

I read this article at: http://efficiency.lbl.gov/product/water-heaters

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

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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

 

 

For Sellers, Emotions Trump More Money

Home is where the heart is.  That will always ring true.  Part of how the Caton Team sets apart their buying clients from others – is how we prepare your offer package.  It is more than just money and terms.  It is so much more than that.  Curious how The Caton Team get’s their offers accepted for their buyers – ask us how.  Enjoy this article from the Daily Real Estate News.

 

For Sellers, Emotions Trump More Money

Home sellers today are twice as likely to choose an offer based on emotion rather than money alone compared to the years prior to the recession, according to a new survey of more than 1,500 home sellers released by Coldwell Banker Real Estate LLC, which analyzed real estate trends in the past decade.

Since 2014, more than one in four sellers nationally sold their home in less than two weeks. But despite the higher prevalence of multiple bids and offers above asking price, sellers judge an offer based more on emotions than the extra money, the study found.

“There is a notable difference in seller psychology today compared to 10 years ago,” says Budge Huskey, president and chief executive officer for Coldwell Banker Real Estate LLC. “The national housing market has changed significantly over the past decade, and seller sentiments have evolved. Home sellers often want to feel emotionally connected to the buyer. These findings should give solace to buyers in highly competitive markets who may present a compelling story as to why they should be the next owners of the home.”

Before the recession, about 20 percent of sellers accepted an offer based on emotion rather than money alone. However, from 2006 to now, the number has climbed to 36 percent.

“While housing has clearly steadied, we have all wondered how the recession might impact home sellers, and we now have additional insight,” Huskey said. “During this recovery, sellers are more aware that their home, which played such a critical role in their lives, will have the same emotional impact on the next occupants. Today, they have more information than ever and want to more actively participate in the sale of their home.”

During the recession and its aftermath, more sellers accepted the first offer they received – a notable difference from today. Now, only 46 percent of home sellers accept the first offer they receive – which marks a 22 percent decrease, the survey found.

Source: “How Home Sellers Have Changed Over the Past Decade: Results of the Coldwell Banker Seller Survey,” Coldwell Banker (June 10, 2015)

 

I read this article at: http://realtormag.realtor.org/daily-news/2015/06/11/for-sellers-emotions-trump-more-money?om_rid=AACmlZ&om_mid=_BVeejGB9CnYC8V&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/

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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

 

Top Reasons People Want to Move

Top Reasons People Want to Move

DAILY REAL ESTATE NEWS |

One in three U.S. households say they plan to move in the next five years, according to a survey conducted by the Demand Institute of 10,000 households’ current living situations. And it’s the location of the home that will be driving most of those moving decisions — more so than the physical home itself.

Seventy-five percent of the households surveyed cited one or more location-related reasons for why they were moving. The top reasons were the desire for a safer neighborhood (30%); being closer to family (27%); a change of climate (26%); being closer to work (25%), and moving for a new job (23%).

More than half — 59 percent — of households say they don’t plan to go too far, with most indicating a move within 30 miles of their current home.

For those seeking a location for climate reasons, the Western and Southern U.S. continue to be the top destinations.

The following were the top location characteristics identified as “very important” by those surveyed:

  • Amenities/services in walking distance (39%)
  • Good school district (34%)
  • Close to work (32%)
  • Diverse neighborhood (26%)
  • Near public transit (25%)

Many movers say they’re eyeing more walkable communities. Indeed, walkable communities have been reporting stronger home-price growth compared to less walkable communities, according to the Demand Institute’s report. Those who reside in walkable communities also are more likely to report that their quality of life has improved in the past few years due to their change in residence.

As such, Americans are desiring more amenities near them. Of those surveyed, the following places were identified as what home buyers would most like to have near their future home:

  • Grocery stores (63% say short drive OK; 22% want it within walking distance)
  • Restaurants and cafes (56% short drive; 20% walking distance)
  • Parks and green space (40% short drive; 35% walking distance)
  • Healthcare services (62% short drive; 10% walking distance)

Retail (57% short drive; 12% walking distance)

 

I read this article at: http://realtormag.realtor.org/daily-news/2015/02/25/top-reasons-people-want-move?om_rid=AACmlZ&om_mid=_BU7kXlB8-nKOr6&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

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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

 

Open House for our Rental on McLellan in San Mateo

Open House Saturday 6/13 from 1-3pm

Look no further.  This charming two-bedroom detached house is perfectly situated in a cute San Mateo Village neighborhood.  Walk to CalTrain, Hillsdale Mall and Bay Meadows area restaurants and shopping.  Easy access to Hwy 101.  A commuter’s dream location.  The house has beautiful hardwood floors throughout the living areas and wall to wall carpet in the bedrooms and hallway.  There is a spacious updated bath with shower over tub and large vanity.  The kitchen features plenty of counter space, cabinets and newer appliances.  A small family room adjoins the kitchen.  An enclosed patio with laundry area expands the living space considerably.  The extra large yard is perfect for summer fun and entertaining.  A large detached storage building is available for all your extra storage needs.  Newly painted inside.  All new double pane windows.  Gardener included.  Tenant pays all utilities.  No Pets. No Smoking or Drugs.  Must have excellent credit.

Visit our website for photos:

http://thecatonteam.com/IDX/McLellan-San-Mateo-CA-940/2107728917/0004010

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

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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