Who Bought Homes in 2017??

2017 Buyers
Who is Buying Homes?

Are you next? What does it take to get ready to buy a home in 2018? How can you qualify? Where do you get that elusive down payment?  In this Seller’s Market, what does your Realtor need do for you to beat other offers? What are Sellers looking for in a “good” offer?

The Hottest Markets of 2017

Hottest Markets
Hottest Real Estate Markets 2017

At Realtor.com, they identify the country’s hottest metropolitan markets for real estate—those homes that attract the most listing views and spend the fewest days on market (DOM) as buyers put in offers to buy them up quickly.

Home prices have marched steadily upward, mostly due to the fact that there is a historic shortage of homes for sale.  The above photo shows how cities in California did in the Top 20 in the US.

California has been the USA’s top performer, and in the list below, dominates the top six spots, with the City of Vallejo at the number 1 spot in the country.  So here they are:

The Hottest Markets of 2017

Metro                         Rank                Rank Change

Vallejo, CA                               1               + 1

San Francisco, CA               2                -1

San Jose, CA                          3               +4

Sacramento, CA                  4                +4

Stockton, CA                        5                +1

San Diego, CA                      6              -1

Columbus, OH                      7              +3

Colorado Springs, CO        8             +5

Dallas, TX                               9             -6

Denver, CO                            10            -6

Detroit, MI                            11             0

Modesto, CA                        12             0

Yuba City, CA                     13            +4

Fort Wayne, IN                  14            0

Boston, MA                         15            +4

Santa Rosa, CA                  16           -7

Oxnard, CA                        17            -2

Fresno, CA                         18              0

Midland, TX                     19           +10

Kennewick, WA              20            +4

More Single Women Own Homes

Women Buyers
Home Make It Your Sweet Home

According to a new analysis by Owners.com, the Midwest is attracting more single and unmarried women who are choosing to put down roots and buy a home. Cincinnati topped its list, followed by Kansas City, Kan., and Kansas City, Mo.

Phil Karp, senior manager of brokerage services at Owners.com says the following:  “There is a noticeable shift toward more single women entering the real estate market, particularly given lower unemployment rates, rising incomes, and the value placed on homeownership. Housing inventory remains low and costs are high throughout the country.”

How strong a force have single and unmarried women become in real estate? They have outpaced single and unmarried men in homeownership since 1981, according to data from the National Association of REALTORS®. In 2016, 17 percent of single and unmarried women were homeowners. That compares to only 7 percent of single and unmarried men who owned a home. NAR research indicates that these women place a high value on owning their own home near family and friends.

How was the analysis done? Owners.com studied 50 metro areas across the country, factoring in each city’s average home value, median income for women, annual crime rate, walkability and public transportation, and the price of dinner for two people. The study came up with the 20 best places for single women to purchase a house. The following are the results for California:

Sacramento-Roseville, Calif.: 15.2%

Los Angeles-Long Beach, Calif.: 13%

San Jose-San Francisco-Oakland, Calif.: 13.7%

If you are interested in buying your next home, please contact me as I have very helpful information as to 5% and 10% down loans with no mortgage insurance requirements. Call or text me at 650 483-4932.

Top 20 Markets March 2017

Top 20 Markets
Top 20 Performing Markets For March 2017

Realtor.com®’s economic data team identified the largest metro areas where homes are selling the fastest and garnering the most views.

California markets continue to dominate. Some new metros were added to this month’s list: Santa Cruz, Calif.; Fort Wayne, Ind.; and Grand Rapids and Ann Arbor, Mich.

Is time to sell, or wait a bit? Call me at 650 483-4932 to find out.

Mal Pais Costa Rica $339,000 USD

Costa Rica
Mal Pais Costa Rica
Costa Rica Mal Pais
Views in Mal Pais

This 180 degree view hilltop lot is located in Mal Pais, just a short distance from the center of town and some of the best beaches in Costa Rica.

The property boasts ocean, beach and jungle views, along with great ocean breezes. This large and spacious lot is ideal for those looking to build a personal residence, vacation rental or even a small hospitality business, with its amazing views and plush jungle surroundings.

It boasts 9,650 square meters, which is about 2.3845 acres. It is close to surf, beaches, shops, and restaurants.

According to Wikipedia: “Malpais is a town in Puntarenas Province, Costa Rica which began as a fishing and cattle-farming village, and has become popular among surfers and adventure travelers around the world. Recently, Forbes Magazine voted the beaches of Malpais and neighboring Santa Teresa as ‘One of the ten most beautiful in the world.’ Malpais now is known for its incredible beauty, with white sand coves, rocky outcroppings, steep jungle-covered hills, and forests teeming with animals, birds, and insects. While Malpais is still a remote fishing village, it also is known for modern day luxuries. Many excellent hotels and luxury houses have been built in recent years, and there are many excellent restaurants, with cuisine from around the world.”

Give me a call today to see how this area can be your second or even first home at 650 483-4932.

Improved Home Buying Affordability

Home Buying
Improved Home Buying Affordability

Improved home buying affordability can mean more Buyers will be searching and buying homes, most likely for the first time. Home Buyers can take advantage of historically low interest rates and any down payment assistance programs that may exist in their city of choice.

Call/Text/E-mail me on how I can help you achieve the goal of purchasing your home. Call me at 650 483-4932. E-mail: rafaelcastrojr@gmail.com.

Start a home search at: www.RafaelCastroJr.com.

There Is More Equity In Your Home

More money in your pocket
You Have More Equity In Your Home!

More homeowners have gained equity if you own a home on the San Francisco Peninsula, according to a new report released today.

CoreLogic® (NYSE: CLGX), a global property information, analytics and data-enabled solutions provider, just released an analysis showing that U.S. homeowners with mortgages (roughly 63 percent of all homeowners) saw their equity increase by a total of $227 billion in Q3 2016 compared with the previous quarter, an increase of 3.1 percent.

According to Frank Nothaft, the chief economist for Corelogic: “Home equity rose by $12,500 for the average homeowner over the last four quarters. There was wide geographic variation with homeowners in California, Oregon and Washington gaining an average of at least $25,000 in home equity wealth.”

The main cause of equity increase? Anand Nallathambi, president and CEO of CoreLogic: “Price appreciation is the main ingredient for home equity wealth creation, and home prices rose 5.8 percent in the year ending September 2016 according to the CoreLogic Home Price Index. Paydown of principal is the second key component of equity building. Many homeowners have refinanced into shorter-term loans, such as a 15-year loan, and  by doing so, they have significantly fewer mortgage payments and are able to build equity wealth faster.”

The metro level, with the cities that have the highest percentage of mortgaged properties with positive equity are:

  • San Francisco-Redwood City-South San Francisco, Calif.: 99.4%
  • Houston-The Woodlands-Sugar Land, Texas: 98.5%
  • Denver-Aurora-Lakewood, Colo.: 98.4%
  • Los Angeles-Long Beach-Glendale, Calif.: 96.9%

If you would like a copy of CoreLogic’s 3rd Quarter 2016 Equity Report, and/or what this means for you if you are thinking of Selling, send me an email to rafaelcastrojr@gmail.com or give me a call at 650 483-4932.

Selling a House? Buying a House?

Sell a Home
Selling or Buying a House?

At www.RafaelCastroJr.com you have at your fingertips a wide variety of tools available to help you with your buying or selling questions. You can:

  • Search for Your Dream Home
  • Find out “What is My Home Worth?” How much can I get for my home?
  • Get Pre-qualified with a leading bank. Not sure if you can qualify for a loan? Then find out how to GET STARTED to qualify for a loan—For FREE!
  • At the “Market Insider” you can find Housing Market Trends—Sold vs. Listed, Housing Inventory Trends, Crime, Weather, Restaurant, Pet Store, Shopping, Coffee Shops in your interested area and more.

Of course, Technology helps, but personalized service is what gets you the most for your hard-earned money. Call or text me at 650 483-4932 to set up a one-on-one real estate session.

Why Move Out of California?

Californians moving out of state
                                                                 Moving Out of California??

Why are Californians moving out of the state? CoreLogic, the analytic and financial services company, says that for every home buyer coming into California, another three are selling their homes, and moving out of the state. Separate reports released earlier this year by Beacon Economics, also noted that 625,000 more U.S. residents left California between 2007 and 2014 than moved into the state.

California’s housing market is one of the most expensive in the nation, with a median home price of $428,000 across the state. Selling prices have gone up 71% since 2011. Of the five priciest housing markets in the United States, four are in California, according to the latest data from NAR, the National Association of Realtors. Topping the list is in our own backyard, San Jose, with a median home price of $1 million.

Where are Californians moving to? Many are moving to Texas, Oregon, Nevada, Arizona and Washington. Favorite Baby Boomer choices are Nevada, Arizona, Idaho, Georgia, Texas or North Carolina where home prices are considerably lower. The homes being bought are generally bigger with larger land lots. Other attractions are lower commute times to work, lower utility bills in gas, electricity and garbage collection.

Have you thought of moving out of California? Call me at 650 483-4932 to find out what your choices are: What is my home is worth and can sell for? What can I get in another area? As a Certified International Property Specialist (CIPS), I can help you find the perfect home and get the most money on the sale of your home.