Blog Posts in Category: Real Estate

06/25/2020

The Best Time to List in the Current Market Could Be Now

The Best Time to List in the Current Market Could Be Now

The Spring and Summer seasons are usually the best time to sell a home for those seeking to earn the most profits. Due to COVID-19, it remains uncertain if conventional wisdom may apply since buyers and sellers alike have slowly returned to the market.
The number of newly listed homes for sale on Zillow was down 39% on May 3rd, 2020, compared to the same day last year, further signaling a delay in the usual surge of spring listings this year.   more...

06/08/2020

San Francisco's lowest rent prices in 3 years, down 9.2%

San Francisco's lowest rent prices in 3 years, down 9.2%

Rents for one-bedroom apartments in San Francisco have dropped by 9.2% since June 2019, according to Zumper. That is the highest drop since the rental site started recording such data in 2015, and brings median one-bedroom prices down to levels not seen since March 2017.
With the economy wavering and unemployment numbers skyrocketing, witnessing such a steep dip should not come as a surprise. But many long-time San Francisco residents find the nearly double-digit year-over-year decline "shocking." Prices are unlikely to plateau anytime soon, with median one-bedroom prices in San Francisco dropping about 3% just in May alone.   more...

05/22/2020

6 Common Mistakes First-time Homebuyers Make

6 Common Mistakes First-time Homebuyers Make

Buying a home is one of the most significant financial decisions you’ll make in your life. Although, on occasion, it can be one of the largest sources of stress for many first-time buyers is the financing process. Unless you’ve planned thoroughly and dedicated time for research, receiving a mortgage can feel complicated and overwhelming. Luckily, you could learn from these common mistakes first-time homebuyers make to have a less stressful experience:
1. Not realizing the full cost of homeownership: Being a first-time homebuyer involves much more than the monthly cost of renting, which usually includes your rent payment, some of the utilities, your internet, and cable bills. As a homeowner, you’ll be responsible for the additional monthly costs that may have been covered by your landlord. That includes the following expenses: Water, sewer and garbage, monthly HOA fees, landscaping, property taxes, and homeowners insurance. All of that is in addition to maintenance costs, which you should set aside 1-3 percent of the purchase price of the home annually to cover repairs and maintenance.   more...

05/22/2020

4 Things You Can Do To Prepare Your Home For The Market After COVID-19

4 Things You Can Do To Prepare Your Home For The Market After COVID-19

While the spring market would usually be running at full power now, COVID-19 has put an impermanent stop to most real estate transactions. However, that does not imply that you cannot set aside the effort to prepare your home to be listed and available to be purchased once we flatten the curve. In light of that, here are four recommendations on things you can do to prepare your home to hit the market after stay-at-home orders have been relieved:
1. Address any minor repairs: Even the most meticulous homeowners typically have a list of home repairs that they mean to fix when they have time. Whatever fixes may be on your to-do list, it's imperative to deal with them before you list your home available for sale. While these fixes usually won't require a ton of effort on your part, they will go a long way towards improving the opinions of the overall condition of the home, which can lead to higher-priced offers.   more...

05/20/2020

Sellers Are Standing Firm on Their Asking Prices

Sellers Are Standing Firm on Their Asking Prices

Almost 75% of Realtors report that their sellers have not reduced their listing prices down to draw new buyers amid this pandemic, announced by the National Association of REALTORS. That indicates the amount of precaution home sellers consider to avoid feeling pressured to sell quickly during COVID-19.
"The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, the home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy" says NAR Chief Economist Lawrence Yun   more...

04/24/2020

March Home Sales and Prices Affected by COVID-19

March Home Sales and Prices Affected by COVID-19

The California Association of Realtors recently reported that California home sales fell from both the previous month and year in March as the coronavirus pandemic began to affect the housing market, and as the state’s stay-at-home order was put in place.
Finalized escrow sales of existing, single-family homes in California totaled a seasonally balanced annualized pace of 373,070 units in March, as per data gathered by C.A.R. from in excess of 90 neighborhood REALTOR affiliations and MLSs statewide. It is changed in accordance with seasonal factors that generally impact home sales.   more...

04/24/2020

Richmond Council Rejects Suspending Rent and Mortgage payments

Richmond Council Rejects Suspending Rent and Mortgage payments

Richmond City Council on Tuesday dismissed an emergency request that would suspend all rent and mortgage payments in Richmond for the span of the COVID-19 shelter-in-place precautions. Alternatively, the city councilmembers cast a vote for protections like the Contra Costa County Board of Supervisors announced before Tuesday. The Board of Supervisors passed an emergency law applying to every one of the 19 cities and unincorporated regions, Supervisor John Gioia said in an update.
The law, as indicated by the Supervisor, restricts evictions for default for private and business occupants affected physically or economically by the COVID-19 pandemic; bans "no-fault" evictions "except to protect the health and safety of the owner or another tenant, or to allow the owner or their immediate family to move into the residential unit"; temporarily freezes rent increases, despite the fact that state law keeps the freeze from applying to single-family homes or living arrangements worked inside the most recent 15 years; gives residents affected by the pandemic a 120-day grace period to take care of rent, and cancels late charges for unpaid rent for affected occupants. These principles apply through May 31, except if reached out by the Board of Supervisors. Despite the County ordinance, which can be read in full here, a city can revise and include restrictions protecting renters if it chooses.   more...

04/24/2020

Is It Safe To House Hunt During the Coronavirus Pandemic?

Is It Safe To House Hunt During the Coronavirus Pandemic?

While risk is an individual choice, the real estate industry is adjusting to give access to home buying securely during the coronavirus pandemic. You would now be able to do numerous things at a safe social distance, or even remotely with regards to purchasing a home that you might not have considered doing previously.
Here are on the whole the courses face to face checkpoints to purchasing a home have changed to guard you during the coronavirus pandemic:   more...

04/09/2020

The Difference Between Cash vs. Mortgage When Buying a Home

The Difference Between Cash vs. Mortgage When Buying a Home

Cash vs. Mortgage Overview: There's a lot to consider when contemplating purchasing a home outright versus financing it. Here are some of the major differences between using cash or a mortgage to buy a home:
KEY TAKEAWAYS   more...

04/09/2020

How to buy a home if you can’t save for a down payment

How to buy a home if you can’t save for a down payment

With millions of Americans facing financial burdens like student loans and high rents, saving up to make the traditional 20% down payment on a first home can be daunting. There’s good news for prospective homeowners: You don’t need to do it!
You can blame the difficult financial circumstances many young people find themselves in today. But misconceptions may be part of the problem too. Nearly half of renters said they believe they need at least a 20% down payment to buy a house, according to Bank of America’s 2018 Homebuyer Insights Report, although the government and most housing experts disagree.   more...

04/01/2020

A Moratoria on Evictions Is Now In Effect

A Moratoria on Evictions Is Now In Effect

div.a { text-indent: 50px; } This week, several cities, the County of Alameda, and the State of California enacted moratoria on evictions for nonpayment of rent. Below you will find summaries of each ordinance relevant to your location:
State of California: Governor Gavin Newsom issued an executive order banning the enforcement of eviction orders for renters affected by COVID-19 through May 31, 2020. The order prohibits landlords from evicting tenants for nonpayment of rent and prohibits enforcement of evictions by law enforcement or courts. It also requires tenants to declare in writing, no more than seven days after the rent comes due, that the tenant cannot pay all or part of their rent due to COVID-19.   more...

03/28/2020

Bay Area home sales regaining momentum!

Bay Area home sales regaining momentum!

Bay Area home costs have begun growing, with careful consumers venturing once more into the market in the midst of low inventory and consistent demand. The middle deal cost in January for single-family homes rose, year-over-year, in Santa Clara, San Mateo, Alameda, and Contra Costa areas, as indicated by another Zillow study. The greatest risers were in tech-strong San Mateo, where the average sale cost expanded 6.3% to $1.47 million, and Santa Clara, with the cost up 2.7% to $1.21 million.
With high demand and scarce homes available to be purchased has been a steady refrain as the region sinks further into a housing crisis. Median home estimations made record gains somewhere in the range of 2012 and 2017, prior to hitting a break in 2018 and 2019. Longterm homeowners have seen their property value take off, while many would-be homebuyers have remained leaseholders or left the region. For buyers ready to get into the market, low-interest costs — floating around 3.5% for a standard, 30-year mortgage — have expanded purchasing force and spending plans. The low stock of homes available to be purchased has added a desire to move quickly for buyers, squeezing costs and making for quicker sales.   more...

03/28/2020

Buying and Selling a Home at the Same Time!

Buying and Selling a Home at the Same Time!

Buying a new house while selling your old home is the best path to take for some home sellers turned home purchasers. Ideally, this change would happen in one day. However, in reality, it isn't so straightforward, and you'll have to expect some time between selling your home and purchasing your new one or the other way around. The procedure is a difficult dance full of complex steps and a rhythm that is hard to do flawlessly. All in all, you might be wondering, would I be able to purchase another house before I sell mine? The response to that is, yes, you can! Yet the bigger question is whether you will want to once you understand the entire process.
Pros and Cons of Selling Before Buying   more...

03/19/2020

5 Terrific Tax Deductions When Selling a Home

5 Terrific Tax Deductions When Selling a Home

Due to the evolving coronavirus pandemic Congress has officially rescheduled the final day to file your 2019 taxes to June 15th, 2020. With that in mind, you might be thinking about whether there are tax deductions when selling a home, and of course, there are! You may recall 2018's new tax code otherwise known as the Tax Cuts and Jobs Act, that changed a few guidelines for homeowners. But have confidence that if you sold your home last year, or intend to sell this year, expect some tax deductions that can still amount to sizable savings when you file with the IRS. Need a full summary of the considerable number of deductions (as well as tax exemptions or other write-offs) at a home seller's disposal? Look at this rundown to ensure you miss none of them.
1. Selling costs   more...

03/12/2020

The Best Time to Sell Your Property is Rapidly Approaching

The Best Time to Sell Your Property is Rapidly Approaching

In spite of the fact that the home buying season has begun sooner than expected this year, Zillow says that homes recorded in May usually sell for more than other months in the year. Truth be told, the Mortgage Bankers Association said that January 2020 was the hottest January for purchasing mortgage applications in 11 years.
As the climate warms up, American homebuyers continue leaving to come out of their winter hibernation to search for new homes. While families with kids, which make up an enormous level of homebuyers, are bound to be excited to purchase, sell or move during the summer to avoid interrupting their child’s school experience.   more...

Due to the Shelter in Place order our office is closed to the general public. As an Essential Business we are still open.
To contact us please call 510.250.7918 or email us at team@adventpropertiesinc.com.