恭喜發財. Wishing you prosperity.
Lunar New Year, is the most important celebration observed in China, with cultural and historic significance.The New Year celebration is centered around removing the bad and the old, and welcoming the new and the good.
Traditional activities include reunion dinner, cleaning houses, visiting family members, setting off firecrackers and fireworks, and doing some religious practices.
May the New Year bring many good things and rich blessings to you and all those you love!

Happy lunar new year

Happy Lunar New Year

Cryptocurrency, gaining popularity with investors and more slowly, traditional banks, may be starting to play a small role in Bay Area Real Estate.
A Redfin survey in December found ~12% of first-time homebuyers planned to sell cryptocurrency to help finance a purchase.The number of first-time buyers turning to crypto investments ↑ from 5% in 2019 to 9% in 2020.With the median price of a single-family >$1M, it’s a stretch for many young buyers to save $200K to compete in this Real Estate market.But some are willing to embrace the risks, and there are legal structures that can help buyers defer taxes on crypto gains.

Is Bay Area Real Estate the next frontier for crypto?

According to Redfin, fewer homes were for sale in December, while home prices ↑ 15% YoY, the 17th consecutive month of double-digit increases.More buyers and sellers are expected this month, but demand will increase more than supply, which will boost prices to start the year.In all largest metro areas except Bridgeport, CT (↓ 0.4%), the median sale prices ↑ YoY in December.The largest price increases:
Austin, TX.: ↑ 30%
North Port, FL.: ↑ 28%
Phoenix: ↑ 28%
Seasonally adjusted home sales in December ↓ 3.6% MoM and ↓ 11% YoY, the largest annual decline since June 2020.

House deals post largest monthly decline since May 2020

Home Sales Post Largest Monthly Decline Since May 2020

Mortgage rates are likely to continue rising this year, with the Fed pulling back on its bond purchases and raising its funds rate. Thanks to historically low mortgage rates, 2021's housing market were one of the hottest and most competitive in history.Home price growth has been astronomical in recent years, the national median price ↑ 19.2% between July 2020 and July 2021 alone. (FHFA)Freddie Mac forecasts home prices ↑ 2% for most of 2022 and even less toward the end, while CoreLogic predicts a ↑ ~ 6%.
If you're looking to buy a home, now is the time to start mapping out your strategy.

Housing market changes: what rising interest rates mean for 2022 housing

Housing Market Changes: What Rising Interest Rates Mean for 2022 Housing

In Sausalito, the median home price reached $1.57M in 2021, ↑ 25.1% YoY, with price/sq-ft at $995.The avg home in Sausalito sold in 39 days in 2020, but in 2021, it stayed on the market for 23 days.The scorching hot Real Estate market doesn’t appear to be cooling down anytime soon, as prices of homes around the country continue to soar.The fervor largely stems from shifting consumer values and changing culture brought on by the pandemic.Another reason adding to the flame is the record low-interest rates driving Americans to purchase properties.There are also rising construction costs, inflation, and a limited supply of houses to meet the overwhelming demand.

Sausalito among 11 cities with $1M average house value

Sausalito Among 11 Cities With $1M Average Home Price

The number of houses for sale in December, ↓ 22% YoY in SF and the East Bay, and ↓ 32% YoY in the South Bay.In recent weeks, only ~700 single-family homes were up for sale in San Mateo and Santa Clara counties, < half the number of 1-yr ago.Bay Area home inventory has been tight for decades, with home construction lagging far behind the number of new residents migrating to the region.To become buyers in a fierce market and a desire for the value of their home to increase have made sellers reluctant to list properties.The median price of a single-family home in the nine-county Bay Area hit $1.2M in December, ↑ 13% YoY.Although, a 3-mo inventory of homes is considered normal, in the Bay Area, inventory in December slipped to < 1-mo.

Number of Bay Area homes hits record lows

Number of Bay Area homes for sale hits record lows

A new Zillow report shows while home values are soaring, not many of them are being listed on the market.
Home prices are rapidly rising across the country, thanks to strong demand from buyers and a historically low inventory.The rise of the Omicron variant could have contributed to a bit of a pullback by sellers this winter.Bay Area homes are typically spending just two weeks on the market before going pending.While active listings ↓ 20% in SF and San Jose, rent in the SF metro area ↑ 10.4% YoY.

Bay Area housing inventory drops, prices rise

Video tour 
Showcase essential selling points of a property, pointing out specific features such as room size and ceiling height as you go.
2. 3D walkthrough 
This allows you to view all sides of a space and give the freedom to move from one room to another.
3. Drone footage 
This allows potential buyers to observe the outside of a home as well as the surrounding neighborhood more easily.
 4. Artist impressions of potential renovations
For homes that may need renovation, this service depicts how the space will look once completed. 
5. Virtual staging
Furnish and decorate vacant space with virtual furnishings and decor, allowing you to showcase the best features of a house.

Essential tips for a positive virtual house tour experience

Essential tips for a positive virtual home tour experience

Home values have soared on a national scale, and if you sell your home today, you might command a higher price. If you're selling and downsizing, you may have enough money from the sale to avoid having to take out another mortgage. 
But if you're buying a similar home or a larger one after selling, you'll probably need to borrow money to finance it.A higher credit score could be your ticket to a lower mortgage rate when you apply for a home loan. If you're gearing up to sell your home and your credit score isn't great, you may want to boost it. A conventional mortgage requires a credit score as low as 620, but to get the best rates, it should be in the mid-to-high-700s.

Why it pays to boost your score before selling your house

Why It Pays to Boost Your Credit Score Before Selling Your Home

1. A swimming pool
If a pool can really only be used a few months out of the year, then it may not be worth it.
2. High-end bathroom countertops
When guests visit your home to use the facilities, they generally want to get in and get out. 
3. Expensive kitchen appliances
If you cook a lot, then a high-end oven and stove may be worth it to you. 
3. Expensive kitchen appliances
If you cook a lot, then a high-end oven and stove may be worth it to you. 
5. Exotic landscaping
Some future buyers won't care what plant species are on your front lawn. They'll only care that it looks nice.

House improvements that may not pay off

Home Improvements That May Not Pay Off

1. Fix problem areas and give the home a refresh
Before listing, take a look at the interior and exterior through the eyes of a buyer. 
2. Sort your belongings
If you are listing with your own furnishings inside, declutter the space and get it looking as neat and tidy. 
3. Give the house a thorough clean
Before listing, it is also important to give it a thorough clean, both inside and out. 
4. Decorate the house to sell
Styling your property can be a way to help it stand out from the crowd. 
5. Consider your home’s street appeal
Potential buyers will judge a house by its front yard and facade, so if you’re listing, maximize the street appeal.

Prepare your house for selling

Prepare your home for sale

Hard money lending means a lender with a short-term loan to an investor or developer, typically for use as a down payment. This type of financing is more complex to get than other loans because it requires little or no documentation and has higher interest rates. 
Many lenders have begun offering hard money loans that are easier to obtain and have lower interest rates due to changes in lending regulations. These types of loans are great when you need funding quickly and don’t have time to go through a lengthy underwriting process.
If you are looking for hard moneylenders, it is crucial to consider the following criteria:
Loan amount
Interest rates
Terms of the loan
Hard moneylenders are very flexible with lending terms, which means they can offer loans with short payback periods and low interest rates.

What is “Hard Money” in real estate investing

What is “Hard Money” in Real Estate Investing?

The market for second and vacation homes exploded during the pandemic, according to the NRIA.Reports show that vacation home sales ↑ 33% as the pandemic took hold, which outpaces overall growth in existing-home sales.And with a new ability to work from almost anywhere, ordinary Americans are in the market for a second home.Buyers from NY and NJ can now work anywhere because of remote employment and are looking to take advantage of the Florida lifestyle.And even better, second-home buyers can rent out their vacation homes when they won’t be using them, making it a sound financial investment.

Purchasing holiday homes is not just for the rich anymore

Purchasing Vacation Homes Is Not Just For The Rich Anymore

Closing fees allow you to take out a smaller mortgage or purchase a more expensive house than you would have otherwise been able to afford.Each state has programs that provide homebuyers with funds that can be used for a down payment and/or closing costs.Eligibility guidelines vary from program to program, including household size and location, a minimum FICO score, and income limits usually apply.Most closing cost assistance programs can be used for a primary residence, and some are only for borrowers who take out certain types of mortgages.You can find out about local closing cost assistance programs by checking with your state’s Housing Finance Authority.
Getting approved may take 1-mo or more, so start the process early to avoid having to push back your closing date.

Are you eligible for closing  assistance?

Are you eligible for closing cost assistance?

U.S. housing market indicators are data points on current residential trends when buying or selling a home. Check out these 6 indicators.
1. Home and rental affordability
Both speak to the percentage of folks who live in a specific area that can qualify for mortgages and rentals. 
2. Home sales
These offer a good snapshot of how fast homes are being bought in specific areas and are updated on a yearly basis.
3. Home prices
Prices for an avg-sized home can also help you get a better sense of the current state of the housing market. 
4. New construction
Housing prices may rise in the area if more investment dollars and construction companies are pouring into the region.
5. Housing supply
These can help you get a better sense of how many vacant homes are up for sale and are updated annually.
6. Current mortgage rates
Typically, the lower the interest rate, the less money that home buyers will have to pay to finance a mortgage.

U.S. housing market indicators defined

US Housing Market Indicators

The month of January always evokes questions regarding the outlook for the U.S. Real Estate market in the new year.Even though monthly data is published on nationwide home prices and sales, there is no such thing as a monolithic U.S. Real Estate market.
Housing prices are determined locally and can vary widely by zip code, neighborhood, and even different sides of the same street.Investment success has historically accrued to those who use the tools to spot trends sooner, clearer, and more accurately than the competition.A zip code, for example, can be tracked and analyzed to help create a more precise home sales and valuation picture.For 2022 in general, a low inventory will continue to support home prices, but appreciation will run at a lower rate than the past year.

House values and indexes versus granular realities

Home Prices and Indexes Versus Granular Realities

1. Be available to you.
If you don’t get a response by the end of the day, find another agent.2. Handle all scheduling.
Your agent should schedule listing appointments for any properties you express interest in, similar listings, and off-market listings.
3. Help you get pre-approved for a mortgage.
If you don’t have a lender, your agent should be able to connect you with one.
4. Educate you on the market.
Your agent should know the local market inside and out and share details on comps to manage pricing expectations.5. Have a marketing plan.
Your agent is the person who runs social media ads, oversees photography tours, and promotes your listing to buyers.
6. Close the deal.
When sellers have second thoughts, a great agent will find a solution, make a concession, or come up with a compromise.

6 Things a good real estate agent should do for you

6 Things A Good Real Estate Agent Should Do For You

California home sales and prices ease in December, as 2021 state housing market posts the best performance in more than a decade.The San Francisco Bay Area had the biggest sales decline at the end of 2021, ↓ 18.0% MoM and ↓ 23.1% YoY. For the full year, all regions exceeded the prior year in sales, with the biggest seen in San Francisco Bay Area, ↑ 14.6%. 
In December, home prices in San Francisco Bay Area ↓ 7.7% MoM and ↑ 13.4%. 
The imbalance between supply and demand, coupled with low borrowing costs, continued to push up home prices.

San Francisco Bay Area Real Estate in December

In San Jose, the median home price reached $1.25M in 2021, ↑ 12.1% YoY, with price/sq-ft at $789.The avg home in San Jose sold in 20 days in 2020, but in 2021, it stayed on the market for just 12 days.
The scorching hot Real Estate market doesn’t appear to be cooling down anytime soon, as prices of homes around the country continue to soar.The fervor largely stems from shifting consumer values and changing culture brought on by the pandemic.
Another reason adding to the flame is the record low-interest rates driving Americans to purchase properties.There are also rising construction costs, inflation, and a limited supply of houses to meet the overwhelming demand.

San Jose among 11 cities with $1M average house value

San Jose Among 11 Cities With $1M Average Home Price

In SF, the median home price reached $1.54M in 2021, ↑ 10.2% YoY, with price/sq-ft at $1,070.Homes in SF have also been available for shorter windows of time, 16 days in 2021 vs 28 days in 2020.
The scorching hot Real Estate market doesn’t appear to be cooling down anytime soon, as prices of homes around the country continue to soar.The fervor largely stems from shifting consumer values and changing culture brought on by the pandemic.Another reason adding to the flame is the record low interest rates driving Americans to purchase properties.
There are also rising construction costs, inflation, and a limited supply of houses to meet the overwhelming demand.

San Francisco among 11 cities with $1M average house value

San Francisco Among 11 Cities With $1M Average Home Price

Forecast

#sanfrancisco #sfrealestate #bayarearealtor #bayarea #california #bayarearealestate #sanfranciscorealestate  #sfrealtor#californiarealestate #siliconvalleyrealestate #bayareahomes #realestate #realtorforlife #realtor #realestateagent #realestatelife #realtorlife #luxury #photography #luxuryhomes #realestateinvestor#realestate #realtorforlife #realtor #realestateagent #realestatelife #realtorlife #luxury #photography #luxuryhomes #realestateinvestor #NewConstruction #realtor #newlisting #housingmarket

Will landlords’ victorious streak last?

Will landlords’ winning streak last?

Crypto, hybrid working will drive luxury housing boom in 2022

From selling points to a seller's market, what Bay Area Real Estate experts forecast for 2022

How higher rents, rising values will drive multifamily construction in 2022

Bay Area agents expect another year of record-setting prices

Cities that will become more expensive in the first half of 2022

Cities That Will Become More Expensive in the First Half of 2022

House prices expected to increase 14% in 2022

Home Prices Expected to Increase 14% in 2022

2022 housing market, another roller coaster ride?

Will property prices go down in 2022?

Mobile Friendly

4 Ways to keep house maintenance costs down

Homebuyers, don’t rely on warranties

There was no housing bubble in 2008 and there isn’t one now

There Was No Housing Bubble in 2008 and There Isn’t One Now

Will investing in property actually make profit?

Will your investment property actually make money?

How to keep your homeowners assurance costs low

How to keep your homeowners insurance costs low

Market Report Videos

SubMarket Report Videos

Solano Market Update

San Francisco County Market Update

Santa Cruz Market Update

Contra Costa County Market Update

Napa Market Update

Santa Clara County Market Update

Sonoma Market Update

Alameda County Market Update

Marin Market Update

San Mateo County Market Update

Tips for Homeowners

How to navigate the homebuying process

Aiming to purchase a house in 2022? Do these 4 things

Aiming to buy a home in 2022? Do these 4 things

How to purchase a house in an overheated market

How to Buy a Home in an Overheated Market

5 Things Landlords should do going into 2022

5 Things Landlords Should Do Going Into 2022

What happens to a house in a divorce

What Happens to a House in a Divorce

Buying a house in your 30s?

Buying a Home in Your 30s?

Winter is coming, get your house ready

Winter is coming, get your home ready

Buying a house unmarried? What to know before signing the deed

Buying a home unmarried? What to know before signing the deed

Neighborhood Bio Videos

SF-Palo Alto Neighborhood

SF-San Mateo Neighborhood

SF-Mountain View Neighborhood

SF-Petaluma Neighborhood

SF-Redwood City Neighborhood

Archive Videos

U.S. rents surged 7% from October to November

Happy new year

Happy New Year

Merry Christmas

Happy holidays

Happy Holidays

Current national loan rates: December 14th, 2021

Current national mortgage rates: December 14th, 2021

60% of house offers written in October faced bidding wars

60% of home offers written in October faced bidding wars

Pending house deals rise in October after September dip

Pending Home Sales Rise In October After September Dip

Current national loan rates: December 6th, 2021

Current national mortgage rates: December 6th, 2021

Current national loan rates November 30,2021

Current national mortgage rates November 30,2021

Signs of tight housing market persist in October

Brokerage Videos

SF - Coldwell Banker Update

SF - Compass Monthly Update

RE/MAX - S.F. Bay Area Monthly Update

SF - Keller Williams Update

Century 21 - S.F. Bay Area Monthly Update

Arizona

Atlanta

Austin

Central Coast

Charlotte

Chicago

Colorado

Connecticut

Dallas

Florida

Georgia

Houston

Illinois

Indiana

Los Angeles

Maryland

Massachusetts

Miami

Minneapolis

Minnesota

Nevada

New Jersey

New York

North Carolina

Ohio

Orlando

Pennsylvania

Philadelphia

Portland

Raleigh

Sacramento

San Antonio

San Diego

San Francisco

Seattle

Tampa

Texas

Washington D.C.

Other Areas California

Other Areas USA

Calgary

Ottawa

Toronto

Vancouver

Vancouver Island

Other Areas Canada

The supply of homes has improved, but the demand is still high; home prices are expected ↑ 16% by the end of 2022. There are people that have never had this much equity in their homes.
There’s a lot more equity to tap into these days, which is much different from foreclosures during the Great Recession. Homes are getting snatched off the market fast, so if planning to sell, have a plan for the next move.
Some are renting after selling, some are sitting on the money, but most don't have regrets. There are creative offers these days: closing in 30-days or extra time to the seller to stay until they find somewhere else to go.

House prices projected to see 16% jump before 2022 finishes

Home prices projected to see 16% increase before the end of 2022