The new year is always a good time to reflect and review, so I've done just that! With the real estate market so changeable in 2018, I've taken a look at what's happened over the past 5 years and noticed the following which I think is noteworthy (you can look at the charts themselves to get more information)...
1) When's the best time to sell? 2) When’s the best time to buy? 3) Are we in a bubble? While none of us have a magic ball, there are certainly trends we can watch; the past doesn't predict the future yet it can help us with general decisions. Looking at the data I've compiled this time, here's how I'd answer these questions: 1) When's the best time to sell: If you have the luxury of being able to plan ahead, I'd recommend listing in the February/March/April time frame in order to have a close sometime in April, May or June, properties are taking a little...
Every real estate investor dreams of becoming the next land mogul. However, we all have to start somewhere, and that usually means starting small. It takes time to build an empire. Thankfully, with a little preparation now, you can lay a solid foundation upon which to build your financial future, whether you’re investing in a vacation rental or traditional rental. Setting your expectations First things first: You cannot expect to become an instant millionaire off a single property. Instead, look at your first investment as your learning curve. It’s an opportunity to experience first-hand...
When I'm asked about investment property, people often also ask about "in-law" or "granny" units, these second units are officially known as Accessory dwelling units, or ADUs. Building an ADU on to, or next to, an existing home has many advantages: Allows extended family or childcare to be near one another, yet having some separation for privacy Provides space for adult children to live Are cost effective Can be an income source Want to build an ADU? If you're interested in building an ADU onto a home you currently own, or are looking to buy something where part of the property...
Dear Friends: Usually I post facts about real estate, this time I'm reaching out for a different reason! I'm an admirer of Dr. Vivek Murthy, Surgeon General from 2014 - 2017; Dr. Murthy is eloquent on many topics but the one which surprised me and caught my interest was his talk on Loneliness and how it's an epidemic leading to a variety of health care issues, you can read/listen to him here: https://www.cbsnews.com/news/loneliness-epidemic-former-surgeon-general-dr-vivek-murthy With Dr. Murthy's advice to build community in the work force, and other places, I took it to heart when my friends, Santosh and Esha, approached me about a...
We've all heard about how the real estate market's slow at the moment and, compared to the crazy, unsustainable first quarter of 2018, it certainly is, yet let's not take our eyes off what's really happening--a course correction after a crazy 2018 first quarter, doesn't mean our real estate prices are going down over time. Consider our market has adjusted slightly, allowing buyers an opportunity to enter the housing market, move up, or purchase investment property. The first quarter of 2019 has seen prices inch up over the last quarter of 2018 and I predict prices will continue to...
Facebook and other Tech Companies expanding into Alameda County, making it second only to Santa Clara county for 2019 real estate to date. Breakdown: Let’s take a look at which counties in the Bay area are currently the most active. Reviewing the charts, it’s pretty clear that Alameda and Santa Clara Counties are seeing the most activity this year. There’s a huge difference between Santa Clara and San Mateo Counties and this is, in part, because San Jose covers such a large area. With Facebook and other Tech companies moving to Fremont, the market in that part of Alameda County is seen as...
I so like it when I hear from one of my readers requesting specific information! By request, here’s information on Los Gatos and nearby Scotts Valley. Los Gatos covers the city of Los Gatos and the area into the mountains; under the Multiple Listing System, this mountain area is separated out as it falls under Santa Cruz County. Nearby Scotts Valley is also in Santa Cruz County and is perfect for those who want mountain living with all the benefits of city services; Scotts Valley has grown tremendously over the last few years and this is reflected in their average sale price...
I often get asked about the difference between Counties; primarily on the Peninsula we have Santa Clara and San Mateo Counties. San Mateo County is basically South San Francisco to Menlo Park.Santa Clara County is Palo Alto down to Gilroy. And then there are cities like Watsonville that the Multiple Listing Service covers over three counties (a little confusing!). Parts of Palo Alto can be in Santa Clara or San Mateo Counties!!! Here’s a chart showing four counties and the medium sale prices (houses only), with the largest percent gain shown in 2018 over 2017; I was surprised to see the 20% gain...
The most common questions I’ve been asked recently are “How’s the market?” and “Does the Government shutdown affect the real estate market?” As always it depends on location. I decided to look at average sales prices to get more specific in my reply. Take a look at the tables here giving information between houses and townhomes/condos over the four quarters last year. For example, with houses, we saw big gains in Los Altos, Palo Alto, and Los Gatos, though neither Los Altos nor Palo Alto held onto said gains, both ended with 4th quarter average sales below their 1st...