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Blog Posts in Category: Homes

08/15/2023

Navigating the 2023 Housing Market Landscape: What’s to Come?

Navigating the 2023 Housing Market Landscape: What’s to Come?

2023 has been a challenging year for the housing market. With seemingly soaring interest rates, low inventory on the market, and an inflated market things have been difficult for both Buyers and Sellers alike. Even now as we step into the latter half of 2023, the housing market remains a dynamic arena with truly life changing opportunities. When coupled with the right team, possibilities are endless for everyone. To find those opportunities, let’s dive into what the months ahead could look like if you’re in the market to purchase or sell your home.   more...

06/19/2023

Your Preferred Property Management Group

Your Preferred Property Management Group

Advent Properties, Inc has been providing service beyond expectation to California Homeowners and Landlords since we were established in 2008. As we move into a shifting market, it’s important for us to continue expanding our ability to provide top notch services to all of those we continue to serve. Here are just seven reasons why we are your number one choice for Property Management:
1) Marketing Presence One of the number one keys to keeping your property constantly occupied with great tenants is our expansive Leasing and Marketing abilities. We keep our eye on the local rental market and make sure local renters keep their eye on your property. We implement videos, virtual staging, and flexible private touring from highly trained our highly trained leasing professionals. Allowing your property to be viewed as the number one choice in its neighborhood is why we consistently keep our properties occupied with great tenants.   more...

05/09/2023

Are you Correctly Preparing for Your Retirement?

Are you Correctly Preparing for Your Retirement?

As retirement approaches, many people are concerned about ensuring their financial stability. One way to achieve this goal is by investing in real estate. Purchasing a rental home can provide a stable source of income during retirement, but there are several things to consider before making such a significant investment.
According to Investopedia, investing in income-generating property can be a smart financial move. A rental property can provide a steady stream of passive income that can supplement other retirement savings. In addition, owning a property provides a tangible asset that can appreciate over time, increasing its overall value. However, this is not for the faint of heart, investing in rental properties requires careful consideration, education, research and planning.   more...

04/27/2023

Why Young Adults Should Purchase a Home

Why Young Adults Should Purchase a Home

Buying a house can be a difficult task for anyone to do. So of course with student loans, an entry-level job, and the desire to travel and explore the world, it’s understandable why as a young person there’s the decision to rent over buying. However, homeownership presents many benefits that cause a significant impact to your financial future when choosing to purchase a home earlier rather than later. There’s a reason that Urban Institute finds $72,000 difference between those who purchase a home between 25 and 34, and those who waited to buy until 35 to 44.
1)Building Equity: Why is it Important to have Equity? What is Equity? One of the most important and crucial parts of owning a home is generating and building equity. Equity is the amount of wealth you have generated from owning your home. Equity can be generated by paying your monthly mortgage, or by appreciation in home value. This wealth can be used later to do things that would otherwise create a challenge for those without it. Equity can be used to pay for higher education, make home improvements, pay for higher education, gain an even better home, and so much more.   more...

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...

04/01/2022

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...

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...

09/29/2021

What Happens After September 30th, 2021?

What Happens After September 30th, 2021?

'The state legislature adjourned this month without extending its eviction moratorium and the terms of AB 832. So, barring any extraordinary effort on either the governor or lawmakers, the state moratorium should, therefore, finally lapse on September 30, 2021. Beginning October 1, 2021, and continuing through March 2022, California will enter into the "COVID-19 Rental Housing Recovery Act." What this means in Alameda County
Nothing at all! For some of you, September 30, 2021, will be the proverbial "light at the end of the tunnel." But for those with rentals in Alameda County, the end of California's moratorium will have absolutely no effect, and properties will remain mired in local "emergency" ordinances, which still effectively prohibit ALL evictions indefinitely. Laws in both Oakland and Alameda County will only expire 60 days after the local emergency ends. Our honest assessment is that regular evictions will not be allowed in Alameda County until 2022 at the earliest. Only cases involving an "imminent threat to health and safety," post-foreclosure, forcible detainer, and at-will tenancies may move forward for the time being. Please reach out to us if these issues relate to your tenancy. What this Means Everywhere Else   more...

08/27/2021

A New Fannie Mae Rule Could Help Renters Qualify for Mortgages

A New Fannie Mae Rule Could Help Renters Qualify for Mortgages

Photo by RODNAE Productions via. Pexels.com
Would-be homebuyers with thin credit files will have a better chance of getting approved for a mortgage if they’ve been paying their rent consistently, thanks to changes to Fannie Mae’s automated underwriting system taking effect next month.   more...

07/26/2021

The Cost of Construction Materials is Rising Nationwide

The Cost of Construction Materials is Rising Nationwide

Nationwide, the challenges contractors are experiencing with fast-rising materials costs, uncertain delivery times, and rationing of vital inputs are due to the ongoing global construction struggles with materials shortages and prices.
The steep material cost increases tell only part of the story — One example is a potential shortage of steel form ties used in concrete formwork. The US-based Concrete Foundations Association (CFA), representing cast-in-place contractors, has announced an industry-wide effort to mitigate the shortage.   more...

05/28/2021

Facts About Selling a Home to Your Family

Facts About Selling a Home to Your Family

It’s not uncommon to wish to sell a home to a family member, but it can become a tricky situation. You have to be mindful of not only the personal elements that can come with doing this type of transaction with a relative, but the IRS may also scrutinize the transaction if you don’t avoid certain red flags. It’s perfectly legal to sell a home to a family member as long as you’re not just doing it to avoid taxes. If you’re selling the property at a steeply discounted rate, you might have to pay an estate and gift tax, but beyond that, it’s just like any other real estate transaction.
Owner-Financed: One option if you’re selling your home to your child, for example, is to select an owner-financed sale. Then, your family member would make payments to you instead of a bank. However, you’ll need to legally arrange it so that if your relative defaults, the home goes back to you automatically, enabling you to sell it.   more...

05/12/2021

Housing Interest Continues to Fall as Mortgage Rates Drop to a Two-Month Low!

Housing Interest Continues to Fall as Mortgage Rates Drop to a Two-Month Low!

Lower mortgage rates are not prompting homeowners or potential homebuyers to contact their lenders, as other obstacles stand in their way. According to the Mortgage Bankers Association’s seasonally adjusted index, the total mortgage application volume fell 2.5% last week from the previous week.
The decline came even though the average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($548,250 or less) decreased to 3.17% from 3.20%, with points decreasing to 0.30 from 0.36 (including the origination fee) for loans with a 20% down payment. That is the lowest rate since the end of February.   more...

05/11/2021

Millennials are making their presence felt in the real estate market

Millennials are making their presence felt in the real estate market

Photo by Kindel Media from Pexels
Over the last several years, millennials have rented to stay nimble and keep work opportunities open. Now, they're ready to buy.   more...