Nick's Blog

Weekly Real Estate Update

Posted: July 10, 2017

June U.S. Employment Report Shows Solid Trends

The latest U.S. job numbers are in, and they give cause for confidence in the employment market and the economy. Pacific Union Chief Economist Selma Hepp breaks down June's report. You’ll find it exclusively at http://pacunion.us/2u1bPxh

 

Forecast: California Home Prices to Grow by 10 Percent Through 2018

Golden State homes should appreciate at almost double the national rate by next spring, although price growth and increasing rental costs do not bode well for affordability. Read more at http://pacunion.us/2tSU6s0

 

U.S. Home Affordability Drops to Nine-Year Low

Second-quarter home price growth outpaced wage growth throughout most of the country – including the Bay Area – further eroding already challenging affordability conditions. Get the latest numbers at http://pacunion.us/2tKuoWi

 

Lawn-Care Lessons: How to Mow the Right Way

It's July, and your lawn is at its most vulnerable under the fierce Northern California sun. Here are some smart lawn-mowing tips to help keep it healthy all summer long. Read more at http://pacunion.us/2tZvOfQ

 

Real Estate Roundup: Know the Unexpected Costs of Buying a Home

Don't let unexpected costs surprise you when you're ready to close on the home of your dreams. Find out what they are in Pacific Union's latest weekly Real Estate Roundup. It’s online at http://pacunion.us/2sWSA7Y

Weekly Real Estate Update

Posted: July 5, 2017

Bay Area Suburbs Rank as Hottest U.S. Housing Market for Fifth Straight Month

Limited inventory prompted U.S. buyers to snap up properties quickly in June, with homes in the Bay Area selling about twice as fast as the national average. Read the story at http://pacunion.us/2txgHdp

 

California, Bay Area Pending Home Sales Drop Again in May

Pending home sales continue to fall nationwide, statewide, and in the Bay Area, an early sign that housing markets may be in for a slower-than-usual summer. Details are at http://pacunion.us/2u2y2bl

 

U.S., Bay Area Home Prices Hit New Record Highs in May

Intense demand for housing coupled with supply constraints pushed U.S. home prices to an all-time high in May, with properties leaving the market faster than ever before. Here in the Bay Area, home prices also reached a new peak, as buyers hit the market in full force. Read more at http://pacunion.us/2tfMakb

 

Will Increased Homeowner Confidence Equal More Listings?

The number of homeowners who think that the time is right to sell is up significantly from one year ago, but that may not necessarily translate to more inventory, the lack of which has some economists worried about an affordability crisis. For more, go online to http://pacunion.us/2tmrY0f

 

Real Estate Roundup:  The Plight of Millennial Homebuyers in Silicon Valley

A new study says that millennial homebuyers in the Bay Area face a down-payment savings time of nearly three decades, while another finds that Napa is one of the best places in America to hold an outdoor party. Get the lowdown on these and other stories of note in Pacific Union's weekly Real Estate Roundup – online at http://pacunion.us/2tyNIG0

Weekly Real Estate Update

Posted: June 26, 2017

MLSes and Portals Should Respect Exclusive Listings

Pacific Union CEO Mark A. McLaughlin offers his thoughts on Zillow Group's latest move to access brokerage data. It’s on the Pacific Union blog at http://pacunion.us/2tp7bFL

 

California Home Prices Climb to a 10-Year High in May

California home prices hit their highest level since the previous housing boom in May, as demand continued to outstrip supply, both statewide and here in the Bay Area. Details are online at http://pacunion.us/2txqNaS

 

Home Price Growth Recorded in Virtually All U.S. Metro Areas Last Year

Record-low inventory levels pushed appreciation higher across the country in 2016, though home prices in most parts of the country and the Bay Area are still well short of their previous peaks. Get the facts at http://pacunion.us/2sTo7Y2

 

Pacific Union and John Aaroe Group Professionals Honored for 2016 Sales Results

Pacific Union and John Aaroe Group are proud to share the news that nine of our elite real estate professionals have been honored by a respected industry publication for their impressive sales achievements. Read more at http://pacunion.us/2t2WFHs

 

Real Estate Roundup: East Bay Suburb Named California's Best Place to Live

Bay Area cities dominate the rankings of the best places to live in California, while Stanford University remains the third best college in the world. Check out these and other stories of note in Pacific Union's latest Real Estate Roundup. It’s online athttp://pacunion.us/2t4kRcv

 

 

Weekly Real Estate Update

Posted: June 19, 2017

The Bay Area's Five Fastest Appreciating (and Depreciating) Housing Markets

Home prices rocketed up about 30 percent year over year in the first four months of 2017 in one Marin County community, while they fell by about the same amount in a trendy San Francisco enclave. Find out which 10 Bay Area ZIP codes experienced the largest housing price gains and losses. Details are online at http://pacunion.us/2t5Sjw6

 

The Federal Reserve Increases Interest Rates, but Slow Inflation Keeps Mortgage Rates Low

Pacific Union Chief Economist Selma Hepp breaks down the implications of the Federal Reserve's decision to increase interest rates last week. Her exclusive analysis is online at http://pacunion.us/2t7oETd

 

Californians Gained $25,000 in Home Equity, on Average, Over the Past Year

Golden State homeowners pulled in the nation's second-largest equity gain in the first quarter, as the San Francisco metro area again posted the highest number of properties with positive equity. Get the facts at http://pacunion.us/2sZN7JV

 

No Vacation Necessary: The Best Bay Area Summer 2017 Events

If you're skipping a summer vacation to house hunt while the competition is less intense, fear not: There are plenty of events to entertain you all around the Bay Area. Check them out at http://pacunion.us/2sy7cKD

 

Real Estate Roundup: Is the U.S. Headed for a Housing Inventory Crisis?

Some prominent economists fear that the nation's housing inventory shortage could soon become an emergency. Read Pacific Union's weekly Real Estate Roundup for this story and other recent headlines of interest. It’s online at http://pacunion.us/2tcft42

Weekly Real Estate Update

Posted: June 13, 2017

Surging Demand Pushes Bay Area Home Prices Higher in May

The Bay Area's housing market heated up in May, with prices higher from one year ago and seven of 10 properties selling above asking price. Pacific Union Chief Economist Selma Hepp examines the latest local market conditions. Get her take at http://pacunion.us/2sYNJ2B

 

Pacific Union’s May 2017 Real Estate Update

As in April, inventory conditions in the Bay Area in May were almost uniformly down year over year, which drove prices higher. Get all the latest market data of note to make an informed buying or selling decision in Pacific Union's May 2017 Real Estate Update, available athttp://pacunion.us/2s7DbAR

 

You’re a New Homeowner? Congratulations! Now Get to Work.

Your first priority is to change the locks on all the doors. Also, find out where the fuse box and main water valve are located, check all smoke detectors, and change all filters. Read the full story on Pacific Union's blog at http://pacunion.us/2sMskt8

 

How Much Do Utility Bills Add to Bay Area Homeownership Costs?

Although some home shoppers may overlook electricity, water, and gas bills when calculating how much they can afford to spend, utilities can add a significant amount to homeownership costs. Golden State homeowners can get some of that money back with solar panels, which more than double a home's profit when the time comes to sell. Find out more at  http://pacunion.us/2sDHTDq

 

Real Estate Roundup: The Bay Area’s Hottest Spots for Home Flippers

Home flippers in select Contra Costa County and Santa Clara County ZIP codes made out big in the first quarter, profiting as much as $450,000. Get this and other headlines of note in Pacific Union's weekly Real Estate Roundup, at http://pacunion.us/2sLRpEC

Weekly Real Estate Update

Posted: June 5, 2017

 

Deciphering Home Prices: Are They Declining in San Francisco?

Some statistics say that San Francisco area home prices fell year over year in the first quarter, while others recorded appreciation. Pacific Union Chief Economist Selma Hepp explains the numbers in her latest Straight Talk column. You’ll find it exclusively athttp://pacunion.us/2rXoKzs

 

California Millennials Need Two Decades to Amass Down Payment

High housing costs can delay homeownership for California millennials for more than 20 years, and to complicate the situation, their expectations about the down-payment size are not exactly aligned with reality. For details, go to http://pacunion.us/2rCpoCn

 

U.S. Job Growth Stalls in May, While the Unemployment Rate Reaches a 16-Year Low

Pacific Union Chief Economist Selma Hepp examines the May U.S. employment report, which brought slower-than-expected job growth yet falling unemployment. Get the facts at http://pacunion.us/2rO26cA

 

Rising Mortgage Rates Drag Down Refinancing Activity

Although mortgage rates remain low by historic standards, the increases that began last year had a significant impact on both refinancing and loan-origination activity in the first quarter of this year. For more information, go to http://pacunion.us/2rGsHIu

 

San Francisco Is No. 1 in the Nation for Access to City Parks

The Trust for Public Land gave San Francisco a perfect score of 100 for access to city parks and recreation area. The report found that every San Francisco resident lives within a 10-minute (half-mile) walk of a park, something that no other major U.S. city can claim. Get the full story at http://pacunion.us/2smbjWM

 

 

 

Weekly Real Estate Update

Posted: May 30, 2017

Bay Area Pending Home Sales Continue to Plummet

Golden State pending home sales dropped for the fourth straight month in April, with the inventory-starved Bay Area feeling the brunt of the declining activity. Get the latest numbers at http://pacunion.us/2rmwvi5

 

Americans Are Confident in the Housing Market but Concerned With Rising Mortgage Rates

Most Americans are optimistic about the current state of the economy and the real estate market, although potentially higher interest rates are causing some trepidation. For details, go online to http://pacunion.us/2rfnd7k

 

U.S. Homes Are Selling Faster Than Ever This Spring

Serious home shoppers who are hitting the open-house circuit hard during the traditionally busy spring season should not hesitate long, as properties are flying of the market quicker than ever before. That's especially true here in the Bay Area, where homes continue to sell at among the fastest pace in the nation. Read all about it at http://pacunion.us/2rkNdOE

 

Create the Perfect Pet-Friendly Home

Whether you're a dog person or a cat person, there are some modifications you can make to your home to best accommodate your four-legged friend. Learn more at http://pacunion.us/2rZmrst

 

Real Estate Roundup: Bay Area Home Prices Hit New Peak – Again

Bay Area home prices have once again hit an all-time high amid exceptionally tight inventory conditions. Get this story and more in Pacific Union's weekly Real Estate Roundup. It’s online at http://pacunion.us/2rZtOA0

Weekly Real Estate Update

Posted: May 22, 2017

Pacific Union CEO Mark A. McLaughlin's Top Four Time-Management Tips

Pacific Union CEO Mark A. McLaughlin offers his thoughts on efficient and effective time-management skills – sound advice that's applicable to the real estate industry and beyond. Check them out at http://pacunion.us/2qRhBAi

 

California's Housing Affordability Inches Up, While Bay Area Conditions Stay Flat

Despite the state's thin supply of housing, wage growth helped boost affordability ever so slightly in the first quarter, while there was little relief to be found for Bay Area home shoppers. Get the latest data at http://pacunion.us/2qXBuFT

 

California Home Prices Near a 10-Year High in April

The Golden State's median home price climbed to a height not seen since the previous housing boom in April and is likely to keep rising, further squeezing already tight affordability conditions for the rest of the year. For details, go to http://pacunion.us/2rsprxh

 

First-Quarter U.S. Home Sales Hit Strongest Pace in a Decade

Homebuyers were active across the country in the opening months of 2017, depleting inventory and pushing prices higher. Major Bay Area housing markets were among those to see annual price appreciation, and they remain the nation's most expensive. Read more at http://pacunion.us/2qKNlXu

 

Real Estate Roundup: The College Degree That Buys a Home the Fastest

With the right college degree and a strict savings plan, it's possible for millennials to own a home in less than three years. Find out how in Pacific Union's latest Real Estate Roundup, online at http://pacunion.us/2r1hNga

Weekly Real Estate Update

Posted: May 15, 2017

Bay Area Home Sales Slide in April  Except for Luxury Homes

Bay Area home sales dipped from March to April, which is not consistent with typical seasonal patterns. Pacific Union Chief Economist Selma Hepp examines the latest numbers and trends in a new Straight Talk column. It’s online athttp://pacunion.us/2q75RZg

 

Pacific Union's April 2017 Real Estate Update

Bay Area real estate markets are having a strong spring showing, as April's median sales price for single-family homes set or tied a one-year high in Contra Costa County, the East Bay, Marin County, Napa County, San Francisco, and Silicon Valley. Stay up to date on the latest market statistics of note with Pacific Union's April Real Estate Update. You’ll find it exclusively athttp://pacunion.us/2q2kBGr

 

Global Tech-Hub Home Prices Growing More Than Twice as Fast as Financial Centers

The tech industry is driving luxury real estate prices in cities such as San Francisco, although even expensive U.S. markets remain a bargain by global standards – particularly China. For details, go to http://pacunion.us/2q475Cv

 

First-Time Buyers Spending Significantly More on Home Renovations

More news that coincides with National Home Improvement Month: First-time buyers pumped quite a bit more money into renovations in 2016 than they did the previous year, and they're especially keen on installing smart technologies. Read more athttp://pacunion.us/2q5S98I

 

Real Estate Roundup: Bay Area Sees Big-Time Postrecession Home Price Growth

Bay Area home prices are up by more than 50 percent since the end of the recession, helping make San Jose and San Francisco the nation's two most-recovered housing markets. Get this story and others of note in Pacific Union's weekly Real Estate Roundup. It’s online at http://pacunion.us/2raWEgg

Weekly Real Estate Update

Posted: May 8, 2017

Pacific Union CEO Mark McLaughlin: Innovation or Just More Conflicts of Interest?

Pacific Union CEO Mark A. McLaughlin weighs in on Palo Alto-based DeLeon Realty's recent decision to waive buy-side commissions in home sales where its agents work both sides of the transaction. Get his perspective at http://pacunion.us/2pO7MBR

 

Selma Hepp: U.S. Job Growth Rebounds Strongly From the First Quarter in April

The U.S. unemployment rate fell to its lowest level in nearly a decade in April. Pacific Union Chief Economist Selma Hepp examines the latest job numbers and trends. Her analysis is at http://pacunion.us/2pPrafD

 

Key Points From the "Golden Bridge From China" Event

Read a quick recap of the May 2 "Golden Bridge From China" event, which featured a panel of experts – including Pacific Union CEO Mark A. McLaughlin – who discussed current trends shaping Chinese investment in U.S. real estate. Read the highlights athttp://pacunion.us/2oXEC3C

 

Two-Thirds of the Best-Paying U.S. Companies Call the Bay Area Home

For the second straight year, Bay Area-based tech heavyweights dominate the list of the nation's highest-paying companies – good news for anyone who's landed a job at one of them considering the region's extremely high housing costs. See which local companies offer the best salaries at http://pacunion.us/2oTIsLo

 

Home-Remodeling Spend Surges, as Baby Boomers Lead the Way

Happy National Home Improvement Month: Increasing home equity and confidence in the U.S. housing market helped lift remodeling spend significantly over the past year, with another boost expected in the coming year. Get the full story athttp://pacunion.us/2qIUMdV

 

Real Estate Roundup: How Much Does a Golden Gate Bridge View Cost?

No surprise here: San Francisco homebuyers who want a Golden Gate Bridge View are going to pay handsomely for it. Also, Bay Area homeowners remained the nation's most equity-rich in the first quarter. These stories and more in the latest Pacific Union Real Estate Roundup, online at http://pacunion.us/2pYjCHw