Real Estate Roundup: California Homebuyers Face the Nation’s Longest Down-Payment Savings Time April 23, 2018 by Pacific Union • Posted in Featured Posts, Weekly Real Estate News Roundups Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. IT TAKES A DECADE TO SAVE FOR A DOWN PAYMENT IN THE BAY AREA AND LOS ANGELES…
April 16, 2018 by Mark McLaughlin • Posted in Featured Posts, Pacific Union Insights There was a time in the not-too-distant past that I wrote about Zillow, trust, and our industry’s relationship. I have matured in my perspective from thinking that Zillow would be the real estate industry’s friend and ally. That thinking was flawed, and looking back, I was…
April 16, 2018 by Selma Hepp • Posted in Economic Straight Talk, Featured Posts, Pacific Union Insights Executive Summary: Sales of homes priced higher than $1 million increased by 30 percent in the Bay Area in the first quarter, with even stronger gains in the South Bay and Silicon Valley. Demand for homes priced above $3 million remains robust, jumping by…
April 10, 2018 by Pacific Union • Posted in Featured Posts, Home Price Conditions A home in Atherton, California, the Bay Area’s most expensive and fastest-appreciating housing market in the first quarter. A slim supply of homes for sale and vigorous buyer demand continued to drive home price growth in the Bay Area in the first quarter of this year.…
April 13, 2018 by Pacific Union • Posted in Economic & Employment News, Featured Posts A new analysis ranks San Jose as the nation’s top job market this year, with a perfect score of 100. San Francisco ranks as the second best U.S. job market in 2018. Four other California cities are among the 25 most favorable job markets: San…
April 12, 2018 by Pacific Union • Posted in Featured Posts, Market Conditions Sixty-eight percent of U.S. housing markets were not affordable for workers earning the average wage in the first quarter. No California county is currently considered affordable. Marin County remains one of the least affordable in the U.S., with more than 100 percent of average wages needed to…
April 11, 2018 by Pacific Union • Posted in Featured Posts, Industry Surveys & Studies Millennials are more likely than other generations to consider themselves handy around the house. Millennials are also more likely to undertake repairs themselves than baby boomers or Gen Xers. Nearly one in five millennials cannot discern a flat-head screwdriver from a Philips-head screwdriver. Millennials are…
April 3, 2018 by Pacific Union • Posted in Featured Posts, Real Estate News While mortgage or rent payments will constitute the biggest expense for most Bay Area residents, there are of course many other cost-of-living factors to consider. Using the Economic Policy Institute’s Family Budget Calculator, which determines how much money a household must make each year to maintain an…
April 5, 2018 by Pacific Union • Posted in Featured Posts, Real Estate Trends Between 2005 and 2016, people moving to the Bay Area earned almost $13,000 more per year than those leaving. Bay Area in-migrants are about two years younger than out-migrants, as many Americans find the region a difficult place in which to start a family. Roughly 10…
Most Homeowners Are Planning a Remodeling Project in 2018 April 4, 2018 by Pacific Union • Posted in Featured Posts, Industry Surveys & Studies, Real Estate Trends Fifty-eight percent of homeowners will funnel money into a home-improvement project this year, according to a recent poll. For the fifth straight year, outdoor renovations are the most popular with homeowners in 2018. Twice…
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