In these California cities, houses probably earn more per hour than you do
Houses in San Francisco earn more per hour than most of their owners – or anyone else, for that matter, – do at work, a new report finds.A study released by real estate site Zillow finds that houses in the Bay Area city typically appreciate at a rate of $60.13 for each working hour, calculated […]
This burned-out Silicon Valley home just hit the market. Asking price? $800,000
A house that suffered major fire damage two years ago is on the market for $800,000 in San Jose, California. The listing, which has already attracted criticism online, would appear to be a clear example of Silicon Valley’s overheated housing market. But the realtor behind the sale has defended the asking price, telling local media […]
Bay Area homes deliver record-breaking returns
Bay Area homes have gained value year-over-year for a record 70 straight months, according to real estate data firm CoreLogic. Some counties have seen average property values nearly double during that stretch, including appreciation of more than 80 percent in Alameda, Contra Costa, Santa Clara and San Mateo counties. That’s nearly twice the national increase during […]
Mortgage Rates Paradoxically Steady After Jobs Report
Mortgage Rates have stayed at roughly the same level for these past 5 day, even after the Jobs reports came out! This is not only uncommon for 2018, but this generally only happens a few times a year. Reason for lack of movements comes from the much stronger than expected job report, which made bond […]
California Cities Fail to Hit Housing Goals
California has been struggling with a housing shortage caused by increasing home prices and shortages of affordable housing. Other factors such as the widespread wild fires all across California have only exacerbated the housing shortage this year. This shortage has left many potential California homeowners stuck renting. Last year 97.6 percent of California cities did not […]
California Home Sale Activity in Bay Area Counties and Markets
North Bay Marin County: had 212 recorded homes sold in 2017. This county had experienced a 10.8% change in the median value of home sales, increasing from $857,500 in December 2016 to $950,000 in December 2017 Sonoma County: had 432 recorded homes sold in 2017. This county had experienced a 16.9% change in the median […]
Rising Rate Might Lead to increase in Defect Risk
U.S mortgage rates are on the rise, leading to higher defect rates due to more fraud and misrepresentation in mortgage loan applications.“We have seen this before, in 2013, as mortgage rates rise, so does overall defect, fraud, and misrepresentation risk,” said Mark Fleming, Chief Economist at First American. In the last year the defect index […]
20 Hottest Housing Markets In the U.S
The top three hottest housing markets in the U.S for January are located here in the Bay Area with San Francisco topping the list followed closely by San jose and Vallejo. Other Bay Area markets that made the top of the list this month were Santa Rosa ranked 7th, and Santa Cruz ranked 18 which […]
MBEP’s 3rd Annual State of the Region
Pacific Appraisers is excited to have Ryan Whitelaw, MAI attending the Monterey Bay Economic Partnership 3rd Annual conference on November 8th, 2017. Some of the topics of discussion will be: Transforming Our Downtowns: Creating Walkable, Livable Communities, Monterey Bay Region: Leading the Way in Employer Sponsored Housing, Maximizing the Region’s Transportation Infrastructure Click here to […]
Surge in US Home Sales to foreigners
There is a new trend emerging. Foreign investors have increased the percentage of residential real estate purchases by 49% from the previous year. See full article here. As appraisers we have seen the trend of high investor purchases over the last 8 years but did not have great data as to what extent foreign investors […]