Nick's Blog

Weekly Real Estate Update

Posted: November 20, 2017

Key Takeaways From Pacific Union's Real Estate and Economic Forecast to 2020

Pacific Union Chief Economist Selma Hepp offers a wrap-up of key points discussed at our exclusive Bay Area Real Estate and Economic Forecast to 2020, which was held Nov. 15 in San Francisco. Read her summary at http://pacunion.us/2mybkrD

 

Pacific Union's Mark McLaughlin Named One of the Bay Area's Most-Admired CEOs

Pacific Union is honored to announce that CEO Mark A. McLaughlin has been named one of the most-admired company leaders in the Bay Area. Read more athttp://pacunion.us/2zJuzEe

 

Home Prices Return to Prerecession Levels in Two-Thirds of U.S. Metro Areas

Although current housing market conditions may be reminiscent of the period leading up to the Great Recession, an excellent job market and stricter lending standards should prevent another bubble from forming. Read more at http://pacunion.us/2msOwK0

 

Real Estate Roundup: More Than Half of Bay Area Homeowners Are Now Equity-Rich

San Jose and San Francisco once again had the most equity-rich homeowners in the U.S. in the third quarter. In other news, lenders think more first-time homebuyers will enter the market next year with the help of low-down-payment mortgages. Get these and other hot housing headlines in Pacific Union's weekly Real Estate Roundup. It’s online at http://pacunion.us/2mHcWQb

Weekly Real Estate Update

Posted: November 14, 2017

Pacific Union's October 2017 Real Estate Update

The median sales price rose year over year in October in all Bay Area regions in which Pacific Union operates, the result of continued buyer demand amid tight supply conditions. Stay current with the latest local real estate market conditions in Pacific Union's October Real Estate Update. You’ll find it exclusively at http://pacunion.us/2zpE0rZ

 

First-Time and Bay Area Homebuyers Have Much to Lose From Proposed Tax Changes

The proposed tax reforms are a serious concern for the Bay Area homebuyers and the future of the housing market. Pacific Union Chief Economist Selma Hepp offers her expert perspective on the potential impacts of the changes. It’s on Pacific Union's blog at http://pacunion.us/2zpGLK6

 

Are We in the Midst of a Housing Bubble? Freddie Mac Offers Some Reassuring Words.

Freddie Mac crunched the numbers and concluded "there currently is no house price bubble in the U.S." And yes, that includes the Bay Area. Details are at http://pacunion.us/2mnZkJ9

 

Pacific Union and Empire Realty Associates Are Now the No. 1 Luxury Brokerage in Contra Costa County

Pacific Union Chief Economist Selma Hepp examines the brokerage's growth in Contra Costa County following its acquisition of Danville-based Empire Realty Associates. Read more at http://pacunion.us/2mgwBpU

 

Silicon Valley Posts Nation's Largest Annual Home Price Gain

Strong homebuyer demand and insufficient inventory once again drove appreciation in more than 90 percent of U.S. markets in the third quarter, with prices in the San Jose metro area growing at more than three times the national rate. For details, go to http://pacunion.us/2ziwX4v

 

Real Estate Roundup: Bay Area Tech Hubs Are Among the Nation's Best for Income Growth

Oakland, San Jose, and San Francisco workers saw some of the largest income gains last year. And San Francisco no longer ranks as the country's least-affordable housing market. Peruse the latest housing market headlines in Pacific Union's weekly Real Estate Roundup. It’s online at http://pacunion.us/2zsY7FQ

Weekly Real Estate Update

Posted: November 6, 2017

 

How Can You Help the Wine Country Recover? Come Visit.

Pacific Union Sonoma Valley Regional Executive and Vice President of Relocation Services Jill Silvas offers her firsthand perspective on the aftermath of the Wine Country wildfires. Read it online at http://pacunion.us/2z0TrHd

 

U.S. Median Home Price Again Hits New High

The national median sales price ascended to another all-time peak in the third quarter, with Bay Area sellers again enjoying the highest profits. For the latest facts and figures, go tohttp://pacunion.us/2lJMS6c

 

Challenging Market Conditions Hold Back First-Time Homebuyer Activity

Although mortgage rates remain favorable and the U.S. job market is chugging right along, tight affordability conditions and student debt are among the factors preventing more first-time buyers from diving in to the housing market. Read more at http://pacunion.us/2z39vYJ

 

U.S. Homeownership Rate Inches Up

The national homeownership rate improved slightly in the third quarter but remains below its long-term average due to inventory shortages. Details are online athttp://pacunion.us/2z8Ix28

 

Real Estate Roundup: East Bay City Named One of the Nation's Most Livable

An Alameda County city moves up the rankings of the nation's most livable cities, while California remains a popular destination for out-of-state movers. Take a look at the latest housing headlines of note in Pacific Union's latest weekly Real Estate Roundup. It’s online at http://pacunion.us/2lNLi3e

 

Weekly Real Estate Update

Posted: October 30, 2017

Tight Inventory Drives Bay Area Prices Up, Sales Down in September

Despite fewer properties on the market than there were at the same time last year, California home sales increased modestly in September. Here in the Bay Area, which has the state's most severe inventory drought, the opposite held true, as sales dropped throughout much of the region. Get the latest facts and figures at http://pacunion.us/2y2uDi9

 

Bay Area Unemployment Rates Fall to Lowest Levels Since May

Hiring bounced back in California in September, while the state's unemployment rate held steady at 5.1 percent. Pacific Union Chief Economist Selma Hepp examines the latest job numbers and trends in our exclusive report, online at http://pacunion.us/2zMKnD1

 

Bay Area Pending Home Sales Down for the 12th Consecutive Month

Inventory shortages once again caused Bay Area pending home sales to drop in September, a trend that also played out in California and the U.S. For details, head tohttp://pacunion.us/2lltjkA

 

San Francisco Again Named America's Greenest City

California dominates the upper rankings of an annual list of environmentally conscious cities, with San Francisco ranking in the top spot for the second year in a row. Read more athttp://pacunion.us/2yO5O96

 

Real Estate Roundup: Bay Area Still Claims the Nation's Three Hottest Housing Markets

San Jose remains the nation's most in-demand real estate market as October winds down, while Bay Area cities have the country's lowest eviction rates despite sky-high rents. Check out these and other housing headlines of note in Pacific Union's weekly Real Estate Roundup. It’s online at http://pacunion.us/2lo8J2Y

Weekly Real Estate Update

Posted: October 23, 2017

Buyer Frenzy in San Francisco Intensifies for Homes Priced Between $2 Million and $3 Million

Pacific Union Chief Economist Selma Hepp offers a deep dive into current housing market conditions in San Francisco, including details on prices, inventory, and buyer competition. http://pacunion.us/2hQsb3x

 

Rising From the Ashes: How Will the Wine Country Wildfires Affect Its Housing Markets?

Pacific Union Chief Economist Selma Hepp examines the implications of the devastating Wine Country fires on the Napa and Sonoma county real estate markets. http://pacunion.us/2hMRjbn

 

Pacific Union Acquires Danville-Based Brokerage Empire Realty Associates

Pacific Union is pleased to announce that we have acquired Empire Realty Associates in Danville, the next step in our journey to becoming the ultimate California real estate company. http://pacunion.us/2yT5h6v

 

Pacific Union Quarterly Report: Q3 2017

Bay Area home prices rose on an annual basis in the third quarter in every region in which Pacific Union operates. Get all the latest market data, plus expert commentary from Chief Economist Selma Hepp, in our third-quarter real estate report. http://pacunion.us/2hQGVza

 

Moderate California, Bay Area Home Price Gains Forecast for 2018

California home price appreciation should slow next year, although there appears to be no end in sight for the state's severe and prolonged inventory shortage. http://pacunion.us/2hNU7F6

 

Real Estate Roundup: Bay Area Housing Bubble Unlikely to Burst, Economist Says

A prominent economist does not foresee a Bay Area housing market crash, while researchers have developed an earthquake-resistant building material that could help protect homes in California. Check out these and other notable headlines in Pacific Union's weekly Real Estate Roundup. http://pacunion.us/2zJqMnq

Weekly Real Estate Update

Posted: October 16, 2017

Looking for Ways to Help Those Affected by the Wine Country Wildfires? Here's a List.

Fire victims need food and shelter. Firefighters and rescue workers need our support on many levels. Relief agencies need cash donations and volunteers. Here are ways you can help those affected by the devastating Wine Country wildfires:http://pacunion.us/2yIj6o1

 

Bay Area Housing Activity Slows in September but More Competition for Homes

Pacific Union Chief Economist Selma Hepp analyzes September real estate market conditions in the Bay Area. You'll find it online exclusively at http://pacunion.us/2xxiaxI

 

Bay Area Housing Affordability Improves in the Third Quarter

Some welcome news for Bay Area home shoppers: Affordability increased in every local county in the third quarter. Unfortunately, the region's home price growth continues to outpace wage growth for the most part. Get the full story athttp://pacunion.us/2yFCDFR

 

Master Bathroom Remodeling Costs Are the Highest in San Francisco

Homeowners in the San Francisco metro area who are planning to renovate their master bathroom should be prepared for a hefty bill, as that project costs more here than it does anywhere else in the country. Details are at http://pacunion.us/2hDQGAU

 

Real Estate Roundup: Silicon Valley Has the Nation's Most $200,000 Earners

One in five workers in San Francisco and San Jose earns more than $200,000 per year, while Fremont is named to a list of best cities in the U.S. for buying a home large enough to raise a family. Check out these and other notable headlines in Pacific Union's latest Real Estate Roundup. It's online at http://pacunion.us/2hJ5nCN

Weekly Real Estate Update

Posted: October 9, 2017

September U.S. Jobs Report Offers Continued Optimism Despite Conflicting Numbers

Recent hurricanes put a dent in September's U.S. job numbers, but the economy is still on solid footing. Pacific Union Chief Economist Selma Hepp examines the latest employment trends in a report you’ll find only here: http://pacunion.us/2xolH1g

 

Most of the 20 Best Places to Retire in California Are in the Bay Area

Despite the Bay Area's high cost of living, a recent study says that most of California's 20 best cities for retirees are located here. Read more at http://pacunion.us/2xkqNfj

 

Homebuyers Remain Upbeat, Surveys Say

Although inventory conditions remain challenging across the Bay Area and the U.S., potential homebuyers are optimistic about the housing market, thanks to a strong economy, low mortgage rates, and the prospect of further home price appreciation. Details are online at http://pacunion.us/2yGgYcy

 

What Is the Down Payment Sweet Spot?

More than half of Americans say that 10 percent is the ideal down payment, though Bay Area homebuyers are putting down more than double that. For more information, go to http://pacunion.us/2yFHxyu

 

Peace of Mind Is a Well-Stocked Earthquake-Preparedness Kit

A little bit of planning now will go a long way to ensuring the health and well-being of you, your family, and your pets when the next big earthquake hits Northern California. Read our special report at http://pacunion.us/2xnudxM

 

Real Estate Roundup: Bay Area Companies Offer the Nation's Best Work-Life Balance

Bay Area employees enjoy the best work-life balance in the U.S., while three communities in Contra Costa and Alameda counties are named to a list of the best small cities for families. Read all about it in Pacific Union's latest Real Estate Roundup. It’s online at http://pacunion.us/2xu7Cje

Weekly Real Estate Update

Posted: October 2, 2017

The Bay Area’s Economy Grew at the Strongest Rate in the Nation in 2016

The Bay Area's gross domestic product (GDP) grew at the fastest rate in the nation last year. Pacific Union Chief Economist Selma Hepp offers her expert take on state and regional economic trends. You’ll find it exclusively at http://pacunion.us/2hyiFSc

 

Bay Area Pending Home Sales Nearing Year-Long Slide

Pending home sales declined nationwide, in California, and in the Bay Area in August, once again the result of more willing buyers than properties for sale. Get the latest facts and figures at http://pacunion.us/2xMzCSI

 

Bay Area Residents Are Among the Nation's Least Stressed

The entire Bay Area is known as a laid-back place to call home, but one East Bay city has earned the distinction as the nation's least stressed-out community. Chill out and give this a read: http://pacunion.us/2xIsoiS

 

Kitchen Renovations Offer Homeowners the Largest Returns

Completely overhauling or upgrading a kitchen are the interior home-improvement projects that offer the biggest returns on investment at the time of sale, with Bay Area sellers recouping more than the national average. Read more at http://pacunion.us/2xPvNMJ

 

Real Estate Roundup: San Jose Is Now America's Hottest Housing Market

Three Bay Area cities remain the nation's hottest real estate markets, while more mortgage lenders eased credit standards in the third quarter. Check out the latest headlines from the housing world in Pacific Union's weekly Real Estate Roundup. It’s online at http://pacunion.us/2x3FLWK

 

Weekly Real Estate Update

Posted: September 25, 2017

California, Bay Area Inventory Continues to Shrink in August

The number of homes for sale declined statewide and in every Bay Area county from one year earlier – particularly entry-level properties – keeping prices at a 10-year high. Get the latest local data at http://pacunion.us/2xuJ7px

 

August Was a Mixed Month for Job Creation in California

Following incredible job growth in July, August was a mixed month for the Golden State's labor market. Pacific Union Chief Economist Selma Hepp weighs in on the latest numbers exclusively at http://pacunion.us/2xtILQ3

 

U.S. Home Prices Up, Sales Down in August

Four major trends persisted for the national housing market in August: rising prices, declining inventory, slowing sales, and strong buyer demand. For details, go to http://pacunion.us/2hnP9yt

 

Millennials' Student Debt Is Larger Than Their Incomes

Lingering student loans are causing younger Americans to make important life sacrifices, including postponing a home purchase. Read more at http://pacunion.us/2fjYhaq

 

Real Estate Roundup: Home Price Growth Projected to Slow in 2018

A pair of housing market forecasts call for slowing price appreciation next year, while mortgage rates have risen for the first time in almost two months. Catch these and other headlines of interest in Pacific Union's weekly Real Estate Roundup. It’s online at http://pacunion.us/2xzHret

Weekly Real Estate Update

Posted: September 18, 2017

Pacific Union's August 2017 Real Estate Update

Supply conditions remained tight across the Bay Area in August, with only Marin County seeing a slight inventory improvement from July. Get all the latest market statistics in Pacific Union's August Real Estate Update. You’ll find it exclusively at http://bit.ly/2ykp7nA

 

Bay Area Buyers Make the Nation's Largest Down Payments

To successfully close a sale, Bay Area homebuyers are putting down much larger down payments than the national average, and a substantial number are leveraging co-borrowers to help them qualify for the mortgage. Read more at http://bit.ly/2wqCPrF

 

Oakland Remains America's Most Difficult Home-Flipping Market

Expensive prices and hefty remodeling costs once again place the Bay Area's three largest cities among the toughest real estate markets in the U.S. for flipping homes. Details are at http://bit.ly/2xbMAqL

 

U.S. Foreclosure Rate Falls to 10-Year Low

Home price appreciation and a thriving job market have pushed down foreclosures and mortgage delinquencies across the country, with California and the Bay Area posting lower numbers than the national average. Read more at http://bit.ly/2xgF2F6

 

Real Estate Roundup: Bay Area Workers Are America's Happiest

Bay Area employees are the nation's happiest, thanks in part to high salaries, while a Contra Costa County city proposes to bring even more jobs to the region as Amazon.com's new home. Get these and other local headlines of interest in our weekly Real Estate Roundup. It’s online at http://bit.ly/2xcGRRK