OMG! The median sales price and the average sales price in November plummeted in American Canyon...by a lot. And there are only 20 homes for sale. And the number of homes sold dropped by 1/3 year over year...and...and...and... It's easy to get caught up in the hysteria of the market place and feel like the … Continue reading
I get that question at least once or twice every single open house. Short answer is I don't think so. The longer answer is always a little more complex. No, we aren't in for another housing collapse but we are headed straight for another housing crisis...or as one editorial put it: "housing catastrophe." It is … Continue reading
I read a few minutes ago that Zillow is rolling out a pilot program called, "Zillow Instant Offer." I'm not sure if it's disgust or dismay but this just feels wrong. According to Zillow, this program is targeted at people who aren't interested in the traditional selling process. It is geared towards all-cash purchases from … Continue reading
Slight bump in inventory throughout Napa and Solano Counties after the holidays which is to be expected. A nice surprise, however, was the interest rate retreating towards pre-election rates as they fell just below 4%.
The big real estate news coming out of last week was the Fed's decision to raise the short term interest rate .25%. Interest rates rose sharply. The current whispers in the real estate world is how an increase in mortgage rates will effect home affordability - some estimates say that a rise of just 0.5% … Continue reading
All indicators are now pointing to the traditional seasonal slowdown as folks take a breath for the Holidays...the one exception being American Canyon which added 4 new homes to the market last week, including one by fellow office mate Kasama Lee. 500 Wetlands Edge Rd boasts an amazing view and is just a few short … Continue reading
There has been a great deal of discussion regarding how many more millennials are living at home. This infograph shows that there is a significantly wider range of household living arrangements today than in the 1960's. The largest drop has been in living with spouse.
This slight upward tick in inventory appears to buck the normal trend, but it's important to hold off on making any significant assumptions. Most leading economists are still predicting a leveling off of inventory and prices in 2017. It may only be a temporary increase in response to rising mortgage rates, but it's worth watching.
"I'll tell you what I want, what I really, really want./So tell me what you want, what you really, really want." - Spice Girls, Wannabe A lot gets written about what the Baby Boomers want and what the Millennials are looking for, but somehow...us Gen Xers get lost in the mix. A generation that identifies … Continue reading