One of the best and biggest investments in your home – is the flooring. Take care of your hardwood today and it will last generations. If you have any updating questions – curious which updates bring more value to your home? Contact The Caton Team – we’re happy to help! -Sabrina
How To Care for Your Hardwood Floors
Hardwood is one of the oldest flooring materials and is still considered one of the best. Hardwood floors are natural, beautiful, and durable, especially if you maintain them. With good maintenance, they will last longer, look better, and add value to your home.
Make daily dusting and sweeping, with a scratch-free cloth or broom, part of your daily maintenance routine. When you need to vacuum hardwood, be sure to use the soft brush attachment, never the rotating brush roll, or as it’s known in older vacuums, the beater bar. Then, as needed, mop with the wood floor cleaning product recommended for your floor’s type and finish.
Wood floors need a protective finish. Unfinished wood floors require finishing with a protective sealer immediately after installation. Factory-finished floors are sanded, sealed, and ready to use right out of the box. If you have solid hardwood, you may need to add a finishing coat every few years, or eventually sand and refinish decades down the road. If you have engineered hardwood, which is a veneer, sanding and refinishing may be an option one-time only, depending on the thickness of the veneer.
Tips for Cleaning Your Hardwood Floors
Use only wood floor care products; never use vinyl or tile cleaning products.
If you prefer a natural cleaner, like vinegar and water, do your research. Your floors must be well sealed, and the vinegar-to-water pH balance can’t be too acidic, and you must wipe the floors dry immediately.
Most experts advise that you don’t use water to wet or steam mop wood floors.
Tips for Protecting Hardwood Floors
Use felt or rubber protectors on the bottom of furniture legs and never drag furniture on wood flooring.
Use area rugs in high-traffic areas, in front of exterior doorways, as well as in front of the kitchen sink.
Remove shoes at the door, especially high heels or cleats.
Slow down fading by keeping direct sunlight off your floors. Use window coverings to redirect, diffuse, or block UV light. UV-resistant finishes are also available.
Keep dogs’ nails trimmed, or restrict them from hardwood areas.
Wipe up spills immediately; standing liquid can damage wood floors.
Tips for Scratches and Squeaks
For deep or surface scratches, touch up using a stain stick for wood that matches your floor’s finish.
For squeaky floors, if possible, it’s best to repair from underneath which may need to be done by a professional. There are products that include a combination of lubricant and powder, which you can try using on the surface between the planks, but effectiveness may be limited.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
When you bought your house, there were a million and ten things you needed to do. (Hi, inspection, mortgage application and downstairs bathroom conversion.) But over the years, auto-pilot has set in, and those driveway pavers you always meant to replace are still staring you in the face. Stay on top of your home maintenance to-dos by making sure you tackle each of the following once a year.
Clean your gutters
Old frisbees. Dead leaves. Dead rodents. (Ew.) Nasty stuff can accumulate in your gutters, and keeping them clear is super important for getting snow and rain off that fancy new roof you just replaced. Here’s the best part: If you get them cleaned right now, you won’t have to think about them again until 2017.
Steam clean your carpets
Yes, you’re a hygienic person who generally doesn’t track gross stuff into her house. But over time, buildup has a way of accumulating–especially in snowy or dusty regions, or if you’ve got children or pets. Rent a steamer (or hire a professional), and relish in a pile that’s as plush and vibrant as the day you bought it.
Wash your windows… like, for real
Again, you’re probably already Windex-ing the inside of those suckers on a weekly or monthly basis. But the outsides need love, too. Most modern windows pivot inward, so you can wash the whole thing from inside your house. But if you live in an older building and can’t get to windows on the second or third floor, hire a gent with a squeegee and a ladder.
Empty all your drawers
OK, this one isn’t just for home owners, but anyone who lives in a house should really be in the habit of emptying and assessing every drawer one time per calendar year. Tackle it room-by-room, taking everything out, deciding if you really need it, then purging accordingly before neatly repacking.
Trim your trees
Next-door neighbor Frank hates when your sycamore cascades over his tool shed. Trim that puppy once a year for the health of your tree (a heavy bow is never a good thing) and, of course, your neighborly relations.
Schedule the exterminator
If you think you only need to talk to Larry the Roach Guy when you’ve actually got creepy crawlers, think again. Getting your house checked and treated preemptively for bugs gives you a much better chance of not finding something disgusting (or paying thousands of dollars for termite damage) down the road.
Check out an open house in the neighborhood
Even if you plan to live in your home until they take you out on a stretcher, it’s always a good idea to get a sense of the market. Plus, aren’t you dying to know what Kenny and Margaret did with that hideous wood-paneled rec room? You know you want to.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Artificial grass has come a long way since AstroTurf first hit the playing fields (and maybe your grandmother’s patio). With the ongoing drought in the West, the new, improved artificial grass is becoming more and more popular for sunny, low-rainfall areas, as well as with pet owners, and people who are just tired of lawn maintenance. Today’s synthetic grass is colored and textured to look like various grass types, so you can likely get a look very similar to what you could grow naturally. It is not without its drawbacks, however. Artificial grass is not cheap. Installed costs can run from $10 to $20 per square foot. Compared to natural grass, it can take up to seven to eight years to recoup the initial cost of artificial turf. It isn’t easy to install either, so it might not be the best DIY project.
Best Uses for Artificial Grass
Artificial turf is a good solution if you have an area where grass simply won’t grow because conditions are shady or wet. Artificial grass is a popular option with dog owners for pet runs, or if you have multiple dogs that are wearing out your natural lawn. Artificial greenery is also a great option for places like a small patio or outside space. It also works great for defined shapes within a yard where real grass edges can be tough to mow and keep weed-free.
Pros:
No need to water your lawn
No weeding or mowing
No need for fertilizers or pesticides
Looks very similar to natural grass: soft, even, and green
Does not get muddy or rutted (and keeps your house cleaner)
Cons:
Expensive
Needs to be cleaned off with water and sanitizing agents (more frequently if you have dogs)
Not easily recycled
Heats up in direct sun
Banned by some homeowners associations and municipalities
The Bottom Line
If you love the look of green grass and plan to be in your house for a while then it’s worth considering an artificial lawn. For pet owners, it can be a great solution, but remember it can’t absorb and break down pet urine, so it will require washing (which does take water). Although it’s not maintenance-free, it certainly requires less maintenance than real grass. Remember to check with your city or HOA about their rules for artificial grass.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
With a homeowner’s maintenance log you can keep track of maintenance and repair details about your home as well as improvements, updates, and upgrades you make over the years. You can store appliance and system manuals and instructions, warranties, and other resources, like where to shut off utilities.
To create your own home maintenance log, first collect and organize important materials in a binder or expandable folder. Add pockets or sleeves to organize receipts, manuals, floorplans, warranties, and so on. If you prefer a paperless version, you’ll need to take time to scan all these documents. Microsoft Excel has a great Home Maintenance Schedule template that is easy to customize and update.
What to include:
Manuals and warranties – File home system and appliance instructions, maintenance records, and home warranty information. If you have a home warranty, keep a copy of the contract in the binder.
Maintenance receipts and contact information
Keep receipts and contact information from service providers such as: carpet cleaners, HVAC, garage door opener repair, chimney sweep, gutter repair, roof inspection/repair, solar panel cleaning, and more.
If you have a home warranty plan for your systems and appliances, include service call information, repairs, and all contact information.
List previously used service providers that you would recommend, such as painters, yard service, and pest control.
Homeowner maintenance records – It can be easy to lose track of when you last performed maintenance so be sure to keep records of gutter cleaning/repair, painting, repairing decks and walkways, HVAC filter replacements, sprinkler systems, and window cleaning, including slides and screens.
Home improvements
Keep track of interior improvements including overhead lighting, fans, smart thermostats, storage systems, and dimmer switches, as well as low flow toilets and showerheads. Be sure to include information about refinishing/replacing of floors or cabinets.
Record exterior improvements such as landscaping and sprinkler systems, exterior lighting, solar panels, window upgrades, pool resurfacing, fencing, decks, tree removal, and so on.
Include specifics – When you paint, record the brand and color formula in your maintenance log. If your replace the roof, keep track of the type of material, color, manufacturer, and warranty info.
Maps and resources – Record the location of shutoffs for the main water, gas, and electrical, as well as the electrical panel. If your home is on a well and/or septic system, map the well, septic tanks, and leach field/lines. Include location of solar panel control/displays and sprinkler junction box.
Neighborhood information – Include information on HOA guidelines and fees and how to contact your Homeowners’ Association, if applicable.
A Great Selling Tool
When it comes time to sell your home, your home maintenance log is also a valuable reference that demonstrates how well you’ve cared for your home. Providing this kind of comprehensive record can really inspire confidence for the buyer who wants to purchase your home.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Are you a first-time homeowner? Have you purchased a new-to-you home? Either way, you have a lot to do. When you’re starting out as a new homeowner, it can be hard to know the right things to do and NOT to do when it comes to home maintenance, cleaning, and general upkeep. Here is some guidance to help you know what not to do.
New Homeowner No-Nos – Inside
Sealants
Needlessly applying sealant to surfaces can permanently discolor stone, concrete, and glass, to name a few. Never use sealant on natural materials like quartz, plastic materials like laminates, or commercial acrylic products such as Formica and Corian. Generally, most materials will not need reapplication of sealants very often. Instead, test surfaces using water to check if it’s time to reseal. For example, if water on a kitchen countertop no longer beads, it may be time to reapply.
Drain Cleaners
Chemical drain cleaners contain active ingredients that can damage plumbing. Drain cleaners may seem like easy, short-term fixes for clogs, but they can lead to long-term, costly problems. And the chemicals in drain cleaners are just plain bad for the earth. Instead, invest your money in a good plunger, a drain snake for tougher clogs, and if those plumbing tools don’t work, call a plumber.
Glass Cleaners
Here’s a little-known consequence to spraying commercial glass cleaner on mirrors: The liquid can seep into the backing on many types of mirrors, leading to discoloring around the edges of the mirror over time and irreparably damaging the backing. Instead, simply dampen a microfiber cloth with warm water and immediately apply a dry cloth to remove excess water.
Bleach
Bleach is actually damaging to most elements and materials found in use in homes. Do not use bleach to clean sealants on granite and other stone surfaces, vinyl, linoleum, and laminate materials, colored grout, enamel, or acrylic surfaces in a bathtub. Never mix bleach with cleaners that contain ammonia! Doing so produces highly dangerous and toxic vapors. Instead, use a vinegar solution. Nothing is better or healthier for cleaning most surfaces in your home.
New Homeowner No-Nos – In and Out
Caulk
Using the wrong caulk can be damaging. That’s because there is a right caulk for the kitchen, bath, gutters, brick or concrete, mortar, and so on. The wrong caulk won’t adhere, or will breakdown, allowing moisture to seep in, or compromise the surface you’re caulking. Instead, ask your local hardware specialist for advice on buying the right caulk for your project.
Tools
Invest in well-made tools for your new home – a hammer, screwdriver set, ladder, and maybe a mower. Avoid buying inexpensive, knock-off brands even if you’re on a budget – they are not made to last. Instead, for budget-conscious homeowners, visit yard sales and look for used tools from quality brands, or start slow with a basic toolbox and build up your set over time.
New Homeowner No-Nos – Outside
Mulch
For your first landscaping project, do not over-mulch. Too much mulch can suffocate plants and prevent water from reaching roots. Instead, add mulch to no deeper than three inches.
Ivy
It may look charming, but ivy will keep growing. Eventually ivy will spread under a home’s siding or shingles, damage their integrity, and ultimately cost you, either in replacing siding, providing entry points for invading pests, or both! Instead, research how and where to thoughtfully plant ivy. A quick web search can also provide better alternatives for plants to safely grow along the base of your home. Note: Plants need to be placed two feet minimum away from the foundation.
Trees
Planting trees close to a home may look nice when the trees are young, but they grow, too! You need to consider the room that baby tree will need at maturity. Trees planted without thought to full height can grow roots that push up through your driveway, sidewalk, and foundation. Instead, plant each tree according to its height and root spread at full maturity. The Arbor Day Foundation has a handy tree spacing guide to help you ensure adequate clearance from your home, fencing, and so on.
Firewood
Do not store firewood right outside your home against exterior walls, otherwise you will invite termites and other pests into your home. Instead, keep firewood at least twenty feet from your home, or further if your property provides room to do so. Better to take a small hike out to the wood pile than let pests make an easy hike into your new home.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Here is an excerpt from the excellent website, Mortgage New Daily:
Before you stop paying your bills in the hope of cashing in, let’s separate fact from fiction. First and most importantly, you will absolutely NOT get a better deal on a mortgage rate if your credit score is lower, even if your nephew just texted you a screenshot of a news headline saying “620 FICO SCORE GETS A 1.75% FEE DISCOUNT” and “740 FICO SCORE PAYS 1% FEE.” MATTHEW GRAHAM – MORTGAGE NEWS DAILY
I strongly encourage you to read the rest of his article here: https://www.mortgagenewsdaily.com/markets/mortgage-rates-04212023 It is well-written and informative and takes the political bias and opinion out of the explanation. Just the facts. And yes, it has gotten more expensive to get a home loan–for everyone.
But to really understand what’s changed, you need to first understand that mortgage rates have a price. In other words, each rate on a rate sheet is associated with a price or fee and that price/fee goes up and and down with the rate you choose, based on how much money you want to borrower, what your credit score is and how much down payment you’re bringing to the purchase. There are a few other factors that determine rate and that is why it is so difficult to answer your question: “What are rates like today?”
With that out of the way, sometimes an interest rate comes at cost to you (that’s what we all know as “Points”) and sometimes that price/fee is a rebate to you (that’s how some lenders will quote you a “no cost loan”). What’s in the middle is something called “PAR”. This is the fancy Wall Street word for “Neutral”, meaning you don’t pay points and you don’t get a rebate. The price for mortgage rates has been increased at the direction of the Federal Housing Finance Administration because they don’t believe they are making enough money and raising these fees (because inflation). The FHFA believes this will help them maintain the financial health of Fannie Mae and Freddie Mac–the two Government Sponsored Entities that purchase many of the home loans that are originated in the United States.
Here’s a picture proving that home loans for the purpose of purchasing just got more expensive for us all:
Now, Fannie and Freddie have what is called a “Duty to Serve” and that requires them to be focused on helping first time home buyers get into homes. That is why the chart above shows that a smaller down payment and a lower credit scores appears to be getting a better deal than say someone with higher credit and a larger down payment.
But let’s take the following example, if you have two borrowers, one with a 700 FICO and 20% down, and another with 640 and 5% down, the LLPAs (1.500%) are in fact the same, creating an “equal” playing field. However, if you have both come in with 5% the higher FICO score gets an improvement to LLPA of 0.625%, whereas if the lower FICO borrower comes in with 20%, their LLPA is 1.375% higher. With the latter, a mortgage of $600,000 results in $8,250 of additional costs to the lower credit score borrower. The point here is that the FHFA is working to create more affordable housing for those that have lower credit scores and by assumption a smaller down payment.
After Weeks of Decline, Mortgage Rates Increase
For the first time in over a month, mortgage rates moved up due to shifting market expectations. Home prices have stabilized somewhat, but with supply tight and rates stuck above six percent, affordable housing continues to be a serious issue for potential homebuyers. Unless rates drop into the mid five percent range, demand will only modestly recover.
The latest data showed signs of strength in the housing market while the labor sector is getting weaker. Plus, an important recession signal continues to reflect a slowing economy. Don’t miss these stories:
What the Media Gets Wrong About Home Prices
Home Builders Need to be “Starting” Something
NAHB Reports Cautious Optimism Among Home Builders
Job Market Getting Weaker
Recession Signal Flashing
What the Media Gets Wrong About Home Prices
Existing Home Sales fell 2.4% from February to March to a 4.44 million unit annualized pace, per the National Association of Realtors (NAR), which was in line with estimates. Sales were 22% lower than they were in March of last year. This report measures closings on existing homes, which represent around 90% of the market, making it a critical gauge for taking the pulse of the housing sector.
What’s the bottom line? While it’s true that buyer activity slowed in March, February was an especially strong month for closings, so a slight pullback last month was understandable.
In addition, multiple data points suggest that demand remains strong. Homes stayed on the market on average for 29 days, down sharply from 34 days in February. Plus, 65% of homes sold in March were on the market for less than a month, which is up from 57% and shows homes are selling quickly when they’re priced correctly. Meanwhile, investors accounted for 17% of transactions last month, making up roughly one out of every six deals. Clearly investors are seeing the opportunity in housing right now.
Also of note, there was a 0.9% decline in the median home price to $375,700 from a year earlier. However, this is not the same as a decline in home prices as some media reports implied.
The median home price simply means half the homes sold were above that price and half were below it, and this figure can be skewed by the mix of sales among lower-priced and higher-priced homes. In fact, we could see home prices increase across all price categories, but the median price could still fall if the concentration of sales was on the lower end. Actual appreciation numbers are higher, not lower, on a year-over-year basis according to key reports from Case-Shiller, CoreLogic and the Federal Housing Finance Agency.
Home Builders Need to be “Starting” Something
Construction of new homes slowed in March, with Housing Starts falling nearly 1% from February. Building Permits, which are indicative of future supply, also fell 8.8% for the month. While Starts and Permits for single-family homes both ticked higher from February to March, they were significantly lower than in March of last year.
What’s the bottom line? The housing sector is undersupplied, and not enough inventory is heading to the market. Starts for single-family homes have been on a downward trend over the last year, with the pace of 1.191 million units in March 2022 falling all the way to 861,000 units this March. Single-family permits have followed the same pattern, declining from a pace of 1.163 million units to 818,000 over the same period.
With single-family homes remaining in high demand among buyers, the imbalance between supply and demand should continue to be supportive of prices.
NAHB Reports Cautious Optimism Among Home Builders
The National Association of Home Builders (NAHB) Housing Market Index, which is a near real-time read on builder confidence, rose one point to 45 in April, marking the fourth straight month this measure has increased. Among the components of the index, current sales conditions rose two points to 51 while sales expectations for the next six months increased three points to 50. Buyer traffic remained unchanged at 31.
What’s the bottom line? Home builder confidence has now risen 14 points since the low of 31 in December. Present sales conditions returned to expansion territory (over 50) for the first time since last September, while the future sales outlook is right at the breakeven between expansion and contraction at its highest level since June. Even though the overall confidence reading remains below 50 in contraction territory, sentiment continues to rebound in the right direction.
Job Market Getting Weaker
Initial Jobless Claims continued to move higher this month, with the number of people filing for unemployment benefits for the first time rising by 5,000 in the latest week to 245,000. This tied the third highest reading so far this year. Continuing Jobless Claims also surged to 1.865 million, up 61,000.
What’s the bottom line? Continuing Claims measure people who continue to receive benefits after their initial claim is filed and this data clearly shows that hiring has slowed. While the number can be volatile from week to week, the overall trend has been higher with an increase of around 576,000 since the low reached last September.
Plus, there’s greater evidence of workforce reductions as the four-week average of Initial Jobless Claims, which smooths out some of the weekly fluctuation among first-time filers, has hovered around 240,000 at a yearly high in recent weeks.
Recession Signal Flashing
The Conference Board released their Leading Economic Index (LEI) for March, which was down 1.2%, falling to “its lowest level since November of 2020, consistent with worsening economic conditions ahead,” said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators. This report is a composite of economic indexes and can signal peaks and troughs in the business cycle.
What’s the bottom line? The Conference Board explained that a warning signal occurs when the LEI 6-month growth rate on an annualized basis breaks beneath 0%. But a break beneath -4.2%, like we saw last month, is a recession signal that has been highly accurate historically. The Conference Board also stated that they believe the U.S. will enter a recession “starting in mid-2023.”
What to Look for This Week
More housing news is ahead, starting with Tuesday’s release of home price appreciation data for February from the Case-Shiller Home Price Index and the Federal Housing Finance Agency (FHFA) House Price Index. March’s New Home Sales will also be reported on Tuesday, while Pending Home Sales follows on Thursday.
Also on Thursday, the latest Jobless Claims data will be released along with the first reading for first quarter 2023 GDP. Friday brings perhaps the biggest news of the week with March’s reading for the Fed’s favored inflation measure, Personal Consumption Expenditures.
Technical Picture
Mortgage Bonds were able to stay above their 50-day Moving Average after testing it earlier in the day last Friday. The 10-year tested support at its 200-day Moving Average but remained above it at the end of last week.
Shared From Lender Chris Carr NMLS# 1466899 – SOURCE
If you are considering a sale or purchase of Real Estate – The Caton Team would love to interview for the job as your Realtor. We love what we do, let us take care of you.
We believe to be successful in the Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with integrity, while strategically maneuvering through negotiations and contracts.
A mother and daughter-in-law team with 40 years of combined, local real estate experience, knowledge, and know-how – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text | 650.799.4333 | Email | Info@TheCatonTeam.com
Effective. Efficient. Responsive. Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
The washer and dryer are convenient home appliances that make your life easier. All you have to do is put your clothes in and they come out clean, right? Not quite. Similar to other places in your home that are meant for cleaning, such as your kitchen sink or shower, your washer, and dryer are breeding grounds for bacteria that, without regular maintenance, can leave your clothes dirtier than they were before you put them in. If you’re not cleaning your machines, they may not be cleaning as efficiently or as thoroughly as you might think. Take these simple steps to get the most out of your washer and dryer.
Don’t get hosed
Washing machine hoses are prone to damage, as the rubber can dry and crack over time, leading to a burst. Check your water hoses regularly for leaks or bubbles, and keep in mind that most manufacturers recommend replacing rubber hoses every two years. Routinely check your dryer vent hose to be sure that it is not kinked or bent in a way that can restrict airflow. Not only can a bent hose limit the flow of air out of the dryer, it can increase the risk of lint building up in the hose. If your dryer vent hose is made of vinyl or plastic, replace with a rigid or flexible metal vent hose, as vinyl or plastic hoses can be a fire hazard.
Disinfect
Your standard laundry detergent is not enough to keep your washer clean and germ-free. Routinely disinfect it by running a clothes-free wash cycle with hot water and a cup of bleach. Not only will this disinfect your washer, it will help to remove soap buildup and keep your clothes smelling fresh.
This load is just right
Plan your loads carefully and aim to wash full loads without overfilling. A load that is too small will cause you to use more water to wash all of your dirty clothes and cut down on the life of your washer. However, a load that is too large means your washer will not clean as effectively and will cause your dryer to use more energy to dry everything. Aim to find that perfect balance for your machines.
Filter it out
Dryers need their lint trap cleaned after each load. When a lint trap is full, your dryer will require additional time to dry clothes and won’t be able to catch the lint from the new load. If left unattended too long, the lint buildup can be sucked into the ventilation system and may block airflow.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
The 2022 housing market has been defined by two key things: inflation and rapidly rising mortgage rates. And in many ways, it’s put the market into a reset position.
As the Federal Reserve (the Fed) made moves this year to try to lower inflation, mortgage rates more than doubled – something that’s never happened before in a calendar year. This had a cascading impact on buyer activity, the balance between supply and demand, and ultimately home prices. And as all those things changed, some buyers and sellers put their plans on hold and decided to wait until the market felt a bit more predictable.
But what does that mean for next year? What everyone really wants is more stability in the market in 2023. For that to happen we’ll need to see the Fed bring inflation down even more and keep it there. Here’s what housing market experts say we can expect next year.
What’s Ahead for Mortgage Rates in 2023?
Moving forward, experts agree it’s still going to be all about inflation. If inflation is high, mortgage rates will be as well. But if inflation continues to fall, mortgage rates will likely respond. While there may be early signs inflation is easing as we round out this year, we’re not out of the woods just yet. Inflation is still something to watch in 2023.
Right now, experts are factoring all of this into their mortgage rate forecasts for next year. And if we average those forecasts together, experts say we can expect rates to stabilize a bit more in 2023. Whether that’s between 5.5% and 6.5%, it’s hard for experts to say exactly where they’ll land. But based on the average of their projections, a more predictable rate is likely ahead (see chart below):
That means, we’ll start the year out about where we are right now. But we could see rates tick down if inflation continues to drop. As Greg McBride, Chief Financial Analyst at Bankrate, explains:
“. . . mortgage rates could pull back meaningfully next year if inflation pressures ease.”
In the meantime, expect some volatility as rates will likely fluctuate in the weeks ahead. If we see inflation come back under control, that would be good news for the housing market.
What Will Happen to Home Prices Next Year?
Homes prices will always be defined by supply and demand. The more buyers and fewer homes there are on the market, the more home prices will rise. And that’s exactly what we saw during the pandemic.
But this year, things changed. We’ve seen home prices moderate and housing supply grow as buyer demand pulled back due to higher mortgage rates. The level of moderation has varied by local area – with the biggest changes happening in overheated markets. But do experts think that will continue?
The graph below shows the latest home price forecasts for 2023. As the different colored bars indicate, some experts are saying home prices will appreciate next year, and others are saying home prices will come down. But again, if we take the average of all the forecasts (shown in green), we can get a feel for what 2023 may hold.
The truth is probably somewhere in the middle. That means nationally, we’ll likely see relatively flat or neutral appreciation in 2023. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says:
“After a big boom over the past two years, there will essentially be no change nationally . . . Half of the country may experience small price gains, while the other half may see slight price declines.”
Bottom Line
The 2023 housing market is going to be defined by mortgage rates, and rates will be determined by what happens with inflation. The best way to keep a pulse on what experts are projecting for next year is to lean on a trusted real estate advisor.
Got Questions? The Caton Team is here to help.
Interest rates rise and fall – as do our client’s needs. Let us help you determine your Real Estate course, regardless of the market conditions. We stand ready to serve.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, or concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text, or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
We’ve come to accept interest rates are not going to be 3% for a while. The good news is – this week – mid-Jan 2023 – rates are the lowest they’ve been in months. Rates change daily – so it’s best to speak to your lender directly.
What I can say – I’m seeing my buyers reapply for loans and start new budget talks around the kitchen table. There has always been an excess of demand in the Bay Area and a shortage of housing supply. So that’s good news for sellers and owners. I do see sale prices adjust accordingly but I don’t see a crash. I’m thinking we’ll have normal growth – which is better than hyper-appreciation.
The rate hike did what it was supposed to – temper the market. With its ups and downs, the data shows one thing – home values in the San Francisco Bay Area have appreciated since 1849. Buyers – this may be the market we’ve been waiting a decade for.
So, time to accept reality – re-evaluate the budget and cross-examine what homes are currently on the market. The Winter season in Real Estate has always been slow. Homes on the market now need to sell and if you’re the only offer on the table – you could have terms in your contract – a contingency even. Imagine that? Remember buyers – buy low, sell high. Marry the House, Date the Rate – just Get The House. Real Estate is an important long-term investment. You can always refinance your loan when rates go down again.
Today, I’m seeing my sellers who can wait, gear up for Spring, and prepare their homes for the market. Paint, flooring, packing, cleaning. This is the season for that as we enjoy the rain we’ve been hoping for.
For my buyers out there, don’t give up on the dream. Let’s re-evaluate the loan and monthly costs, see what properties fit our needs, and take it from there.
For my sellers, your timing is everything. Where are you going and when do you need to get there? The rest, we’ll figure out together – because that’s what we do.
The Caton Team is here to weather any storm and help our clients achieve their Real Estate Goals. How can we help you? Reach out.
The Caton Team | Call|Text 650.799.4333 or Email | Info@TheCatonTeam.com
Previous articles…
Update – Fall 2022.
Quick Read:
Well, rates went up again. This shakes things up for buyers, how much they can afford and that will impact home values over time.
This – for buyers – is exciting because – if you can buy a home for less – you can always REFINANCE out of that high rate when rates go down! So Marry the House – Date the Rate!
Each market is impacted differently – if you’re thinking about selling and buying – The Caton Team is here to guide you. We’ve worked through several different market dynamics and have the wisdom and knowledge to aid us. Reach out – we’re happy to help.
The Caton Team | Call|Text 650.799.4333 or Email | Info@TheCatonTeam.com
Long Read:
Right now, Realtors and their buyers are reworking the numbers, trying to stay within their budget and readjust their plans to accommodate for higher interest rates. Sometimes the goal changes, and sometimes there is a silver lining.
For buyers in Silicon Valley – anyone shopping for a home since 2020 – had low rates, lots of competition, and overbidding. When rates went up – buyers lost their purchase power and it was back to the drawing board – determining their new budget and how that translates into homes. The sellers felt it as offers dried up and escrows didn’t close.
It’s going to take some time to hash out but life doesn’t stop.
With higher rates – buyers can afford less, so eventually, that will impact home sales and prices. But for an agent who’s always working with buyers – as scary as this all seems – this is the market we’ve been waiting for!
There are going to be homes that need to sell, job transfers, weddings, and babies – life events trigger moving events – no matter the market. So for the well-prepared buyer, even with higher rates – this is a rare opportunity to be – dare I say – the only offer on the table? This is where the real negotiating happens. Finding that middle ground where the buyer can buy and afford their home and the seller gets what they need to move forward with their lives. It’s the sweet spot.
If you’re a homeowner with no need to move – this doesn’t hurt you – it is all part of the normal business cycle. However, if you’re a homeowner who has to sell – well – some of your equity is lost for now. So if selling is a must – let’s sit down and chat about your goals and how we can make them happen. Because homes are still selling.
What we are seeing is a shift to a buyer market, if a seller wants their price and a buyer can’t go that high, the buyer is moving on to the next. There are options out there, homes that need to sell, and price reductions galore. And if that is not enough incentive – I’ll say it – just offer a fair price. Finding that middle ground doesn’t have to be a mystery.
For buyers – this is a wonderful time to prepare. Get your loan approved, and understand your budget and the impact of the Interest Rate. Are there homes within reach? Then go for it? If not – then save and wait but keep that goal in mind. SAVE SAVE SAVE!
Now here’s the golden rule – Marry the House – Date the Rate. If you can afford any Real Estate in the Bay Area – even if it is not your dream house – buy it. Hold it and when the rates go down – refinance – and when the home values go up-sell and make your move. This is how it is done, the old advice – Buy Low Sell High – applies.
So how low will it go? Not that low. Let’s stay realistic – we’re not dropping to 1990 prices – but we will see prices reflect the higher rate.
Truthfully – for buyers – this is exciting because – if you can buy a home for less – you can always REFINANCE out of that high rate when rates go down! So Marry the House – Date the Rate! I said it three times – it’s gotta be ringing in your ears by now.
Each market is impacted differently – if you’re thinking about selling and buying – The Caton Team is here to guide you. We’ve worked through several different market dynamics and have the wisdom and knowledge to aid us and better serve you. Reach out – we’re happy to help.
The Caton Team | Call|Text 650.799.4333 or Email | Info@TheCatonTeam.com
Previous Article…
It’s the middle of 2022. The “Pandemic Real Estate” seems to have simmered down with the rate hike as we watch prices adjust. With so much chatter about “this crazy market”, I thought I’d share my insight.
Interest Rates go up and down. That’s what they do, and rates will continue to do so. We don’t control the rates. As it fluctuates – it is wise to consider saving to buy down your rate and when budgeting – round up to account for a higher rate. I prefer knowing if I lock a lower rate – I’m more than comfortable with my payments.
Back in the 80’s rates for home loans were 13%. Back in the early 2000s, we were around 5%, then we dipped down to 3% and life was good.
Now that rates are dancing around 4.5-5% over the past few weeks – we are experiencing two phenomena. Well-positioned homes are still seeing multiple offers and over-list price sales while some homes are dropping their price to garnish more viewers.
I’ve had some clients jump into getting approved – knowing when the market “slows down” they have a better chance of getting a home. I also see some clients stalling, a wait-and-see approach. Especially when a lot of “down payment funds” are tied up in stocks – those clients are forced to wait.
But if there is one thing I want to make clear – in the Bay Area – this was and is not a crazy market. This IS our market.
The San Francisco Peninsula – Silicon Valley – has had limited inventory for sale at any given time. I’ve been a full-time Realtor for going on 19 years now and we’ve always had limited inventory – thus the overbidding. Coupled with high salaries and when the Stock Market is robust – there is no stopping the Real Estate Market around here. This has fueled our prices, the over-bidding with the already low inventory – it’s classic
Supply & Demand.
What I do know – everyone needs somewhere to live and owning your own place is the best way to keep a roof over your head and create long-term wealth. Real Estate is the only investment you can live in. Real Estate prices may flux month over month, year over year – but decade over decade – Real Estate will appreciate. They have since 1849…
I am no economist and I too am glued to the news about our economy, interest rates, inflation, and gas prices. All this will be represented in Real Estate and why long-term vision is key.
Let’s look at the big picture – a few questions to help you determine your course.
Do you want to live in the Bay Area?
Is your job in the Bay Area?
Do you want long-term financial security?
Do you want to stop worrying about your rent going up?
Do you have assets to invest in?
If your answer is yes, – you want to own a piece of Silicon Valley – contact The Caton Team. We’re happy to guide you through the steps of homeownership. If you’re not ready to buy today – we’ll let you know what it takes so you can plan.
I became a Realtor because, as a first-generation American, I understood what the American Dream was and it is grounded in Real Estate.
If you are considering a sale or purchase of Real Estate – The Caton Team would love to interview for the job as your Realtor. We love what we do, let us take care of you.
We believe to be successful in the Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with integrity, while strategically maneuvering through negotiations and contracts.
A mother and daughter-in-law team with 40 years of combined, local real estate experience, knowledge, and know-how – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time. Call | Text | 650.799.4333 | Email | Info@TheCatonTeam.com
Effective. Efficient. Responsive. Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out for a personal consultation. Please enjoy our free resources below and get to know our team from our TESTIMONIALS.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral, or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – wouldn’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
Inflation eased slightly in July, which could bode well for the housing market in the months ahead, says Lawrence Yun, chief economist for the National Association of REALTORS®. Overall, inflation slowed from 9.1% in June to 8.5% in July, but prices for food and rent continued to climb, the Bureau of Labor Statistics’ Consumer Price Index showed Wednesday.
Still, the slight deceleration suggests that consumer price inflation may have peaked, which suggests that mortgage rates also may have peaked, Yun says. The level of inflation “is still high and uncomfortable but may indicate the start of a steady retreat,” Yun adds.
Gasoline prices posted a 7% monthly decline, a significant contributor to the recent moderation in inflation. However, prices remain 44% higher than a year ago and 104% higher than two years ago. Also, the CPI showed that the rising costs of food, up 10.9% in July, continue to hit many Americans’ pocketbooks. That’s the highest increase in food prices since May 1979. Household energy costs were up 20.5%, and furniture costs were up 14.8%.
Rents continued to rise in July, up 6.3% compared to a year prior, the CPI showed. “That is a testament to the ongoing housing shortage,” Yun says.
But could the worst of sky-high inflation be behind Americans? Yun thinks so. “If there is a sustained decline in gasoline prices and more production of apartments and single-family homes, consumer prices will pull back, encouraging the Federal Reserve policy to be less aggressive,” Yun says. “Mortgage rates will fall.”
On Wednesday morning, the 10-year Treasury yield stood at 2.7%. “That should translate into 30-year mortgage rates pulling back to under 5%,” Yun says. “Some recent potential home buyers who were pushed out of the market may now be able to get back in and qualify for a mortgage.”
Got Questions? The Caton Team is here to help.
Call| Text | Sabrina 650.799.4333 |EMAIL | WEB| BLOG
We love what we do and would love to help you navigate your sale or purchase of Residential Real Estate. Please reach out at your convenience for a personal consultation. Please enjoy our free resources below and get to know our team through our clients’ words.Testimonials.
Got Real Estate Questions? The Caton Team is here to help.
We strive to be more than just Realtors – we are also your home resource. If you have any real estate questions, concerns, need a referral or some guidance – we are here for you. Contact us at your convenience – we are but a call, text or click away!
The Caton Team believes, in order to be successful in the San Fransisco | Peninsula | Bay Area | Silicon Valley Real Estate Market we have to think and act differently. We do this by positioning our clients in the strongest light, representing them with the utmost integrity, while strategically maneuvering through negotiations and contracts. Together we make dreams come true.
A mother and daughter-in-law team with over 35 years of combined, local Real Estate experience and knowledge – would’t you like The Caton Team to represent you? Let us know how we can be of service. Contact us any time.
Call| Text | Sabrina 650.799.4333 | Susan 650.796.0654 |EMAIL | WEB| BLOG
The Caton Team – Susan & Sabrina A Family of Realtors Effective. Efficient. Responsive. What can we do for you?
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