Blog Posts By Date: March 2020

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...

03/11/2020

The Coronavirus pandemic causes mortgage rates to dip to 8-year low

The Coronavirus pandemic causes mortgage rates to dip to 8-year low

As the coronavirus pandemic effects hit financial markets, U.S. bond yields are falling, driving mortgage rates that freely follow the 10-year Treasury yield toward an eight-year low. With no end in sight, they could sink even lower. The normal rate on a common 30-year fixed home loan hit 3.34% on Monday, as indicated by Mortgage News Daily. That is for borrowers with solid financials and FICO credit scores.
“Aggressive lenders will be at 3.25% today, and 3.375% will be the new going rate for the average lender,” said Matthew Graham, chief operating officer at Mortgage News Daily. That rate hit 3.34% for one day in the summer of 2016, preceding spiking a lot higher than fall the same year. Before that, rates were this low in 2012. While rates, for the most part, follow the 10-year yield, there are sure market factors that keep rates over a specific level.   more...

03/06/2020

According to Designers, These 6 Items Should Always Be In Your Home!

According to Designers, These 6 Items Should Always Be In Your Home!

We've all had that one household item that was passed on or given away. But what about the items we know to be worth hanging on to for generations? Think staples that can stand the trial of time, nostalgic finds, or even flea market treasures you can't stand to leave behind. Today we'll be listing the stylistic layout pieces worth staying with, regardless of a remodel, a distant move or spring cleaning cleanse from a number of trusted home decor specialists. This is what you shouldn't leave behind at any point in the near future.
Anything That Truly Speaks to You   more...

03/05/2020

84% of Americans agree on homeownership being a 'priority'

84% of Americans agree on homeownership being a 'priority'

Despite rising costs and individual finance issues, most Americans are idealistic about homeownership, as indicated by NerdWallet's 2020 Home Buyer Report. In a study of over 2,000 adults, 84% said homeownership is a necessity, a nine percent gain from 2019.
Millennials were the most enthusiastic about homeownership, with 88% saying purchasing a house is one of their fundamental objectives. 85% of gen-Xers, 84% of Gen-Zers, and 79% of people born after WW2 said the equivalent, with 55% taking note of homeownership is a "wise investment."   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.