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05/08/2022

The New California program for first-time homebuyers will let you borrow a down payment at 0% interest!

The New California program for first-time homebuyers will let you borrow a down payment at 0% interest!

Photo by Kindel Media.
California launched two programs last month to help those interested in becoming homeowners, and one allows first-time homebuyers to borrow a down payment at 0% interest.   more...

04/28/2022

Economists and Real Estate Pros Predict Mortgage Rates Will Hit 6%

Economists and Real Estate Pros Predict Mortgage Rates Will Hit 6%

Photo by Pavel Danilyuk
Mortgage rates have finally hit 5% and if mortgage rates continue on their current trajectory, some experts predict 30-year fixed rates could hit 6% within the next few months. But others say the timeline is a little longer. Whenever rates hit this benchmark, one thing is clear: Though a 6% mortgage rate is still considered historically low, it would signify the highest level for rates in about the last decade.   more...

04/01/2022

Mortgage Refinances Fall Amid Higher Rates!

Mortgage Refinances Fall Amid Higher Rates!

Photo by Andrea Piacquadio.
Mortgage rates took another jump higher last week, taking their toll on current borrowers who might have wanted to refinance. Demand from homebuyers, however, appears to be hanging in for now.   more...

03/22/2022

Appeals Court Upholds San Francisco Law, Protecting Tenants from ‘eviction by another name.’

Appeals Court Upholds San Francisco Law, Protecting Tenants from ‘eviction by another name.’

Photo by Saúl Bucio on Unsplash
A state appeals court upheld a San Francisco tenant-protection law that bars property owners from bypassing city limits on evictions to force tenants to leave with hefty rent increases.   more...

03/22/2022

What to Know if You’re Tempted to Borrow From Your Home Equity

What to Know if You’re Tempted to Borrow From Your Home Equity

Photo by SHVETS productionfrom Pexels
Record increases in home prices are pushing up the number of equity people have in their abodes. For many Americans, they can borrow more against what is often their most substantial asset. However, financial experts caution you should think carefully before making such a move.   more...

02/22/2022

Tenant protection bill is failing in California Legislature, again

Tenant protection bill is failing in California Legislature, again

Photo by Kimson Doan on Unsplash
Assembly Bill 854 would’ve curbed an owner’s ability to evict tenants using the Ellis Act in rent-controlled jurisdictions. Tenant advocates, racial equity groups, YIMBYs, and even some of their usual opponents wanted to see the bill pass. The cities of San Francisco and Los Angeles — which rarely see eye to eye on housing issues — as well as every Democrat on the Assembly Housing and Community Development Committee, signed on.   more...

02/22/2022

Building Materials Prices Jump in January

Building Materials Prices Jump in January

Photo by Brett Jordan on Unsplash According to the latest Producer Price Index (PPI) report released by the Bureau of Labor Statistics, the prices of goods used in residential construction ex-energy climbed 3.6% in January (not seasonally adjusted). The index was higher by a 25.4% jump in softwood lumber prices and 9.0% price increases for indoor and outdoor paint.
Building materials prices increased 20.3% year over year and have risen 28.7% since January 2020. Over the past four months, the index has climbed 8.4%.   more...

01/28/2022

ATTOM Reports: Home Ownership Is More Affordable Than Renting!

ATTOM Reports: Home Ownership Is More Affordable Than Renting!

On January 6th, 2022, ATTOM released its 2022 Rental Affordability Report, which proves that owning a median-priced home is more affordable than average rents on a three-bedroom property in 666, or 58%, of the 1,154 U.S. counties analyzed in this report. That means major homeownership expenses consume a smaller portion of average local wages than renting.
That can be pretty hard to believe, considering how much the median price of homes skyrocketed since the start of the pandemic, but the data does not lie. Home prices have increased more than average rents and more than average wages in 88% of the counties analyzed.   more...

01/28/2022

Lumber Prices Nearly Triple in Last Four Months

Lumber Prices Nearly Triple in Last Four Months

Following a few months of moderating prices last spring and summer, lumber prices are soaring once again; Disrupting the housing market and harming housing affordability.
Over the past four months, lumber prices have nearly tripled — causing the cost of an average new single-family home to increase by more than $18,600, according to NAHB standard estimates of lumber used to build the average home. This lumber price hike has also added nearly $7,300 to the market value of the average new multi-family home, which translates into households paying $67 a month more to rent a new apartment.   more...

11/16/2021

10 Things You Must Do Before Submitting Your Home Offer

10 Things You Must Do Before Submitting Your Home Offer

The house-hunting process is full of anticipation and excitement, and once you think you’ve found “The One,” it’s tempting to rush to make an offer and seal the deal before someone else scoops it up. But wait! There are some things you want to consider before making an offer on a home that could save you a whole lot of time, money, and potential headaches down the road.
Just like the Realtor, you need to do your due diligence and research; so you understand the entire situation at hand. Many factors may affect the initial offer along with the outcome of the entire negotiation. Failure to do your research is like playing a game of poker blindfolded. Here are some things to consider before making an offer to ensure that you get the best deal possible and that you’re not getting in over your head.   more...

Effective June 3, 2022, an approved face covering must be worn at all real estate viewings and visits to Advent Office in Oakland.
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