Testimonials for Blog

After two years of soaring home prices, the Bay Area housing market may have entered a cooling phase as rising mortgage rates put a squeeze on buyers. But that doesn’t mean home values are suddenly falling back to Earth. Far from it. The median price of existing single-family houses in the region hit a record $1.36 million in May, a 13% increase from the same month last year, according to the latest data from real estate analytics firm CoreLogic. Even so, housing experts say the breakneck pace of year-over-year price growth appears to have peaked – though few are predicting

Five of the 10 U.S. housing markets that have cooled fastest this year are in northern California–San Jose, Oakland, San Francisco, Sacramento and Stockton–and three of those five are in the Bay Area. All 10 of the housing markets cooling fastest are in the American West. The cooldown is largely because mortgage rates nearly doubled in the first half of the year, reaching nearly 6% in June. That caused the monthly mortgage payment for a typical homebuyer to surge 45% year over year to $2,459 in June and priced many buyers out of the market. The cooldown comes after the

Home sellers are slashing prices as the housing sector cools, according to a research from a real-estate data firm. More than 25% of homes on the market right now have cut their price, Altos Research found, which is in stark contrast to how prices have been climbing over the last two years.  “Rising rates and the shift in the economy has slowed down the super-eager buyers,” Mike Simonsen, co-founder and CEO of Altos Research, a real estate analytics firm, told MarketWatch. “And what we’re feeling is the speed of the shift.” Put bluntly: “We’re shifting from a real buying frenzy

San Francisco’s housing rental market saw the most dramatic changes among all U.S. cities last year during the coronavirus pandemic, new data shows. When the pandemic began in March, moving virtually halted across the country. But as job losses rose and workplaces went remote, people started leaving pricey big metro areas in favor of more affordable cities. San Jose landed sixth on the list with a 15.2% drop since March and a median two-bedroom rent of $2,035, and Oakland was eighth on the list, declining 14.2% since March and a median two-bedroom price of $1,952. Apartment List estimates the median

Eager buyers and reluctant sellers pushed Bay Area homes prices higher again in April, fueling quick sales and a robust market despite coronavirus restrictions. Median sale prices climbed in seven core Silicon Valley and East Bay counties, according to a Zillow analysis. Prices jumped 7 percent in Alameda County and 6 percent in Santa Clara County from the previous April. The median sale price in April for a single-family home in the Bay Area was $896,000. Fewer homes went up for sale as sellers pulled back from having strangers tour their houses, but buyers snapped them up at a pace

At Authentic Real Estate and Property Management we embrace a zero tolerance policy for inflammatory statements that spread hate, discrimination, intolerance and falsehoods against the black community.

The U.S. economy shrank in the first quarter, and it will almost certainly get worse. A weak read on pending home sales is a bad omen for April sales data.  The initial read on Q1 GDP confirms what many already knew: Large parts of the economy came to a crashing halt in March, the economic expansion has ended and a recession is almost certainly underway. The negative quarter – the first since a 1.1% decline in the first quarter of 2014, and largest since the Great Recession – was driven by a severe pullback in consumer spending and trade-related metrics.

In the weeks ending March 21 and March 28, the number of newly-listed properties fell by 13.1% and 34% respectively when compared with the same period a year ago, Realtor.com found. This is an indication that home sellers may be holding off on listing their properties right now. The pace of home-price growth also slowed notably in the latter half of the month, according to the report. Home list prices were only up 3.3% year-over-year for the week ending March 21, and 2.5% for the following week. This represented the slowest pace of listing price growth since Realtor.com started tracking

After years of rapid growth, Bay Area rents continue to increase but are finally showing signs of a slowdown. That said, the region remains among the priciest in the country, and renting a one-bedroom is likely to cost over $2,000 in cities where jobs are plentiful, such as San Francisco, Oakland and San Jose. Trends in the rental market are tricky to track, because a single clearing house of price data doesn’t exist as it does with home sales that are entered into county recorders’ offices. But at the start of a new decade, industry experts are noting the decline

As 2020 gets going, it’s worth looking back at another year in which home sellers did well in some markets, but often at the expense of home buyers. First, in much of the country, home prices rose again in 2019. According to the November Zillow Real Estate Market Report, home values grew an average of 3.8 percent, and the median home value in the United States is $243,225. The median list price per square foot in the United States is $154. The median price of homes currently listed in the United States is $284,999, while the median price of homes