Brexit is still impacting U.S. real estate,
realtor.com data suggests
- Annual growth in realtor.com listing views by British and German users dropped sharply in July, the month after Brexit. And the trend persisted through August.
- The softened demand will mostly impact U.S. luxury markets and second-home hubs.
8 experts predict what the 2017 housing market has in store
- Mortgage rates are likely to continue to increase throughout 2017.
- There will not be any easing in inventory, and affordability will still be a challenge in big markets.
- The potential is there for a large number of first-time buyers to enter the buying market, but they will face new challenges.
Read the rest of the story by clicking on the red button…
TESTIMONIALVILLE – December 2016
You turned out to be lucky for us, we made our first offer on the peninsula and we got the house. Big THANKS!!!!
HK & JS
CURRENT MARKET CONDITIONS: San Mateo, San Francisco & Santa Clara Counties
- We are seeing that the amount of offers per transaction is sharply lower.
- The delta between list price and selling price is in the single digits versus double digits last year.
- Homes are staying on the market longer than in previous years.
- Inventory is creeping up, now at about 1.5 – 2 months versus 3 weeks on average in 2015.
- Offer dates are coming and going with zero offers leading too many price reductions. This leads to “stale-bread” syndrome.
- To be clear, it is still a sellers market, but the shift is starting to favor buyers. Potential home sellers will need a new strategy for success in a shifting marketplace.
- Impending interest rate hikes may slow the market further, favoring buyers.
These are broad brush-stroke observations and they do vary a bit from town to town. Whether buying or selling, please call me for a detailed report on your particular municipality in order to make a more informed decision on what may be the largest investment of your life.
EMPLOYMENT NEWS: TECH HIGH FLYER GO-PRO GETS GROUNDED
GoPro revealed Wednesday that it will cut 15 percent of its workforce and shut down its entertainment division following a failed effort to enter the consumer drone market.
The troubled action camera startup will eliminate 200 full-time positions. Tony Bates, who joined as GoPro’s president in June 2014, will step down by the end of the year. Bates was formerly an executive vice president at Microsoft and the CEO of Skype Technologies.
2016 Sales Data for San Mateo
& San Francisco Counties!
Absolutely gorgeous 3 bed, 2 bathtownhouse located on a great cul-de-sac location. Walking distance to some of Los Gatos best schools.
Completely remodeled open floor plan with new hardwood floors, new kitchen with quartz counters, stainless appliances, microwave drawer. All remodeled bathrooms, recessed lights, double panned windows.
Only one of eight units built in 1980 plus a huge 8,712 sq ft lot.
Listed at $1,049,000
Call for details.
250 Upland Road
Built in 1948, this 4 bedroom, 3 bath home features 1910 square feet of living space on an enormous 18,900 lot (per
tax records). This unique home also features a guest quarters with a dedicated entrance (unwarranted).Situated on an elevated hill on a semi-private road, it also has distant mountain views.
Open dining and living areas create a loft-like feel. Huge master bedroom withen suite bath and great closet space. The other two bedrooms are also amply sized. Much, much more!
Offered at $1,499,000
The Last Word
Almost another year gone. Where did the time go?
While at times challenging, 2016 has been a wonderful year for my family and I, primarily because due to my great clients and their wonderful support. My family and I are truly humbled that you continually give me the opportunity to serve your real estate needs.
I trust 2016 has been one of your best ever and that 2017 looks even brighter.
As always, please share the above info and please think of me whenever the topic of real estate is discussed amongst family, neighbors and professional colleagues. Your referrals are never taken for granted and the usual concierge-level service is always a given.
Be safe out there…