Nick's Blog

Weekly Real Estate Update

Posted: December 10, 2018

Wine Country Housing Markets: One Year After the Wildfires

Compass Chief Economist Selma Hepp examines how last October's wildfires have affected housing market activity in the Wine Country. You’ll find her analysis exclusively at https://tinyurl.com/yddwubz6

 

Shopping for a California Home? Here's How Long It Might Take.

Golden State residents who aspire to homeownership should expect to search for at least two months, while house hunters in the Bay Area will likely be looking for even longer. For details, go to https://tinyurl.com/y9r9cdj2

 

Most California Renters Want to Own a Home

Even with limited affordability conditions, homeownership is still a cornerstone of the California dream, with 80 percent of renters in the state aspiring to purchase real estate. Read more at https://tinyurl.com/ya9abs4j

 

Bay Area City Ranks as America's Best for "Wallet Fitness"

Buying a home in the Bay Area is an expensive proposition these days, so it makes sense that residents of three local cities are among the top five in the country for financial savvy. Find the latest data at https://tinyurl.com/ycvy79gf

 

Home of the Week: Russian Hill Estate May Set New San Francisco Price Record

A unique compound on two hillside lots at 950 Lombard St. in San Francisco's Russian Hill could break the record set earlier this year for a lavish urban penthouse that sold for $38 million. https://tinyurl.com/y7duuco7

 

Home of the Week: Sweeping New Masterpiece in Mandeville Canyon

Expansive, light-washed spaces and softly glowing woods combine to beautiful effect in this new, gated Los Angeles estate at 2333 Mandeville Canyon Road. https://tinyurl.com/yb5pkto9

 

Real Estate Roundup: California Again Leads the Nation for Home-Equity Gains

California homeowners built up more than $35,000 in equity, on average, over the past year. Also: Buyers of new homes in the state will soon get mandatory solar panels as part of the package. Get the lowdown in Compass' latest Real Estate Roundup at https://tinyurl.com/y7a3ftut

Weekly Real Estate Update

Posted: November 19, 2018

Bay Area Affordable Housing Inventory Jumps in October, With Few Takers

Although Bay Area home sales dipped from last October, they improved markedly from the previous month. Compass Chief Economist Selma Hepp offers an in-depth analysis of the latest housing market conditions. You'll find it exclusively athttps://pacunion.us/2S5xQDj

 

California Home Listings Rose for the Seventh Straight Month in October

The Golden State got another welcome housing inventory boost in October, with most Bay Area counties and Los Angeles posting annual improvements. Read more athttps://pacunion.us/2BcczlC

 

The U.S. Housing Market: Despite a Demographic Push, Proceed With Caution

What's in store for U.S. and California housing markets over the next three years? Pacific Union Chief Economist Selma Hepp offers highlights of an annual forecast from John Burns Real Estate Consulting. You’ll find it exclusively at https://pacunion.us/2zf8USV

 

How You Can Help Those Affected by the California Wildfires

All of us at Pacific Union and Compass would like to extend our sincere condolences to everyone affected by the Camp Fire in Northern California and the Woolsey Fire in Southern California. Here are some ways that you can help:https://pacunion.us/2BaNxDC

 

California Home Sales Plunged in September

September home sales in the Golden State fell to an 11-year low for that particular month, though a lack of buyer demand was not the culprit. Details are online athttps://pacunion.us/2PUJVO8

Weekly Real Estate Update

Posted: November 12, 2018

Bay Area Home Prices Are Growing at More Than Twice the National Rate

Although U.S. and Bay Area home price growth moderated from the second quarter to the third quarter, appreciation in the latter region's two largest cities continued to outpace the national rate. Get the latest facts and figures at https://pacunion.us/2JMxD56

 

Silicon Valley Claims the Nation's Top 5 Neighborhoods for Equity-Rich Homeowners

San Jose, San Francisco, and Los Angeles again had the most equity-rich homeowners in America in the third quarter, with nearly 90 percent of properties in one Silicon Valley community classified as such. For details, go to https://pacunion.us/2DekjVU

 

How Long Will a Home Purchase Impact Californians' Credit Scores?

San Francisco homebuyers have some of the best credit scores in the country, but they also face one of the longest roads to recovery after completing their real estate purchase. Read more at https://pacunion.us/2yVskMi

 

Bay Area Households Are the Nation's Best at Sticking to a Budget

Although San Jose and San Francisco were once again the nation's two most expensive housing markets in the third quarter, residents of those cities have their borrowing habits very much under control. More details are available at https://pacunion.us/2RGsw96

 

Real Estate Roundup: More Evidence That Generation Z Will Become Active Homebuyers

Generation Z are so serious about homeownership that they are twice as likely to start saving money earlier than previous generations. Also: Mortgage rates have again reached the highest point since 2011. Check out what's going down in the housing world in Pacific Union's latest Real Estate Roundup, available at https://pacunion.us/2z49Ida

Weekly Real Estate Update

Posted: November 5, 2018

Bay Area Housing Markets Got Spooked in September

Bay Area housing inventory again improved on an annual basis in September, though the region saw home sales decline by 20 percent. Pacific Union Chief Economist Selma Hepp takes a look at the latest market conditions. You’ll find her analysis exclusively at https://pacunion.us/2RkkG4O

 

California Housing Affordability Inches Up in the Third Quarter

Homes in California and the nine-county Bay Area were slightly more affordable than they were in the second quarter, though less than one-third of households meet the minimum income requirements to qualify for a mortgage. Meanwhile, affordability conditions in Los Angeles County trended in the opposite direction. Get the latest numbers at https://pacunion.us/2yLK50A

 

Bay Area Cities Rank Among the Nation's Best Small and Midsize U.S. Places to Live in 2018

Despite the Bay Area's top-dollar cost of living, the region's rapid home price appreciation and booming economy have helped land a handful of local cities on lists of the best places to live in America. Read more at https://pacunion.us/2yKefRC

 

Down Payments Rise, First-Time Homebuyer Activity Falls in 2018

U.S. homebuyers are dropping the largest down payments in 13 years in 2018, while student debt and deteriorating affordability continue to hinder more younger Americans from entering the real estate market. Read more at https://pacunion.us/2AN2eMY

 

Real Estate Roundup: U.S. Homebuyers Love Their Patios

Nearly 60 percent of newly constructed homes come with patios. Also: The best two American cities for tech workers are located nearly 3,000 miles from the Bay Area. Get quick takeaways from the latest housing headlines in Pacific Union's weekly Real Estate Roundup, available at https://pacunion.us/2PBtUwv

Weekly Real Estate Update

Posted: October 29, 2018

California Housing Inventory Near a 3-Year High in September

Although the Golden State's tight housing supply situation improved again in September, rising mortgage rates and buyer sentiment that the market may be topping out conspired to hold back home sales. Read more athttps://pacunion.us/2EEZepN

 

The Bay Area's 10 Fastest-Paced Housing Markets: Q3 2018

Buyers in East Bay and Silicon Valley communities snapped up homes quickly in the third quarter, although the Bay Area's fastest-moving market is a Contra Costa County city. Check out our latest analysis of the region's quickest-paced real estate markets. You’ll find it exclusively at https://pacunion.us/2yw4Z3M

 

San Jose, San Francisco Home Price Gains Accelerate in the Third Quarter

Nationwide, annual home price growth was the slowest in more than two years in the third quarter, but the Bay Area's two largest housing markets countered that trend, with appreciation higher than it was at the same time last year. For details, go to https://pacunion.us/2JkkIHc

 

Americans' Credit Scores Improve as They Age

Back in the summer, an Experian study found that 61 percent of millennials lack a prime homebuying credit score, and now another report highlights how less-than-stellar credit ratings may be hindering more members of that generation from purchasing real estate. Read more on Pacific Union’s blog: https://pacunion.us/2ELzkRn

 

Real Estate Roundup: Most Americans Like Their Neighbors

Three-quarters of Americans are happy with their neighbors. Also: In California, most residents blame the housing affordability crunch on a somewhat surprising culprit. Stay up to date with the most compelling headlines in Pacific Union's latest weekly Real Estate Roundup, available at https://pacunion.us/2PqbI8Y

Weekly Real Estate Update

Posted: October 15, 2018

California Home Price Growth to Moderate in 2019, Forecast Says

Golden State home price appreciation is projected to slow to a six-year low in 2019, although rising mortgage rates will reduce affordability even further. Details are on Pacific Union’s blog: https://pacunion.us/2PuJeI1

 

As Mortgage Rates Rise, So Does Mortgage Fraud

Intense demand for U.S. real estate combined with a shortage of homes on the market have caused prices to soar over the past few years, helping to fuel an increase in the number of Americans who are dishonest on their mortgage applications. Read more at https://pacunion.us/2CxSNTr

 

California Claims 6 of the Nation's Top 10 Environmentally Friendly Cities in 2018

For the second year in a row, most of the greenest cities in the U.S. are in California, again reflecting residents' environmentally conscious natures. For more, go to https://pacunion.us/2Pup8NQ

 

San Francisco Ranks as One of America's Top 2 Cities for Foodies

From stunning natural beauty to pleasant year-round weather to unique architecture, San Francisco has a whole lot going for it, not the least of which is the city's fabulous dining scene. Learn more at https://pacunion.us/2CBuXX8

 

Real Estate Roundup: Millennials Prioritize Homeownership Over Marriage and Children

Most millennials think that buying a home is a top priority. Also, mortgage rates are nearing the 5 percent mark. Check out these and other key housing headlines in Pacific Union's latest Real Estate Roundup athttps://pacunion.us/2El8eQP

Weekly Real Estate Update

Posted: October 2, 2018

Proposition 10: Possibly the Worst Approach to California's Current Housing Crisis

Pacific Union Chief Economist Selma Hepp digs into the implications that Proposition 10 – which would repeal the Costa-Hawkins Rental Housing Act – would have on California housing markets. Read her exclusive analysis at https://pacunion.us/2Od6A7F

 

The Number of Americans Who Think Now Is a Good Time to Sell a Home Climbs to Record High

Both the number of Americans who believe that the time is right to sell a home and those who think that the economy is headed in the right direction are at all-time highs as the third quarter ends, though qualifying for a mortgage worries a substantial portion of the population. Details are available at https://pacunion.us/2OgplXv

 

San Francisco Has the Nation's Tightest Housing Supply Conditions

Although inventory has been improving modestly in the Bay Area over the past couple of months, it is still insufficient to meet demand, causing most homes in the San Francisco metropolitan area to sell for premiums this summer. Get the latest data at https://pacunion.us/2Q9MBE5

 

The Home Amenity That Americans Cannot Live Without

While most homebuyers are willing to sacrifice some amenities to gain access to top-performing schools, there are some features that are considered must-haves. Read more at https://pacunion.us/2OOUgYb

 

Real Estate Roundup: East Bay ZIP Code Named Among the Nation's 5 Hottest Real Estate Markets

A relatively affordable ZIP code in Alameda County ranks among the country's hottest real estate markets this year. Meanwhile, mortgage rates have climbed to a seven-year high. Read more in Pacific Union's latest weekly Real Estate Roundup, available at https://pacunion.us/2Iwb2ZJ

Weekly Real Estate Update

Posted: September 26, 2018

California's August Job Gains Are Another Win

August was another solid month for job additions in California, with employers creating 44,800 positions and the unemployment rate remaining at a record low. Get Pacific Union Chief Economist Selma Hepp's take on the latest numbers. You’ll find it exclusively at https://pacunion.us/2puVnBg

 

California Home Listings Improved for the Fifth Straight Month in August

The number of active listings in California rose by more than 15 percent year over year in August, though prices continued to increase in every major region of the state, with the nine-county Bay Area posting the largest gain. Get the latest numbers at https://pacunion.us/2pgrZ1u

 

Which California Neighborhoods Are Millennials Flocking To?

Downtown Los Angeles has seen its millennial population explode over the past few years, while The Castro and Glen Park are the most popular destinations in San Francisco. Details are available at https://pacunion.us/2plVKxX

 

California: America's Most Diverse State in 2018

The United States is a nation that was built on embracing diversity, and nowhere exemplifies this most American of principles more than California. Read more at https://pacunion.us/2pmVNJW

 

Real Estate Roundup: California Claims One-Third of the 20 Fastest-Growing U.S. Luxury Housing Markets

San Mateo and San Francisco counties have the most-expensive luxury home prices in America, while Alameda County's Fremont has once again earned accolades for its family-friendliness. Get the skinny on what's going down in the world of California housing markets in Pacific Union's latest Real Estate Roundup, available at https://pacunion.us/2xAk43u

Weekly Real Estate Update

Posted: September 10, 2018

Strong August U.S. Jobs Growth Suggests That Higher Interest Rates Are Coming

The U.S. economy added jobs for the 95th consecutive month in August. Pacific Union Chief Economist Selma Hepp weighs in on the new numbers. You’ll find her analysis exclusively at https://pacunion.us/2wSi0mm

 

The Bay Area Has the Fewest Underwater Homes in the U.S. in 2018

Homeowners in five Bay Area cities are doing the best in America when it comes to accruing equity, helping to propel a Silicon Valley community to near the top of a list of the country's leading real estate markets. Read more at https://pacunion.us/2Qa06UZ

 

Confident of More Price Growth, Homeowners Are Waiting to Sell

Many homeowners in expensive U.S. markets like the Bay Area are delaying a sale in an attempt to maximize their profits, thereby reducing the number of properties on the market and perpetuating price growth. Details are available at https://pacunion.us/2M04S4k

 

Generation Z Is Poised to Make a Splash in the Housing Market

While millennials represent the largest group of U.S. homebuyers, they can expect the generation behind them to offer stiff competition in the market, with California a preferred destination for both age brackets. Read more at https://pacunion.us/2oNf5ba

 

Real Estate Roundup: East Bay City Ranks Among the Nation's Best for Families

An Alameda County city ranks as one of the top places in America for raising a family, while home flippers in two Oakland ZIP codes netted substantial profits in the second quarter. Keep up to date with the latest housing headlines of interest in Pacific Union's latest Real Estate Roundup at https://pacunion.us/2N4s06S

Weekly Real Estate Update

Posted: September 4, 2018

Pacific Union Joins Compass

Pacific Union is pleased to share the news that our firm has joined Compass, a real estate technology company that operates in more than 30 regions throughout the U.S. Read all about it here:https://pacunion.us/2MZErA1

 

Survey: Most Homebuyers Want an All-Digital Mortgage Process

Most people shopping for a home loan would prefer to avoid mountains of paperwork, and Fannie Mae has plans to bring the mortgage-application process into the digital age. Find details here: https://pacunion.us/2PkWMFg

 

No Reason to Fear a Housing Market Downturn, Another Report Says

The U.S. housing market does not appear to be headed for another crash, though a lack of affordability remains problematic, both nationwide and in California. Get the latest market intelligence here: https://pacunion.us/2LFS42Q

 

First-Time Buyers Score Nearly 1 Million Homes in 2018

Though first-time homebuyers face multiple challenges in today's housing market – including rising interest rates, strong appreciation, and critically low inventory levels – that group was busier than it has been in 13 years in the first half of this year. Read more at https://pacunion.us/2N2kWqM

 

Real Estate Roundup: Most New California Homes Have Smart Features

More than three-quarters of new homes in both Northern and Southern California come equipped with the latest and greatest technologies. And one San Francisco neighborhood is being called the hottest in the country. See what's shaking in the housing world in Pacific Union's latest Real Estate Roundup, available athttps://pacunion.us/2wFhs4e