Key California housing bills enter the home stretch
State lawmakers are now making moves to alleviate California’s soaring rents and home prices. The bills being deliberated cover permanent housing for the homeless, new zoning rules to allow apartments on BART parking lots, and workarounds for the $10,000 federal cap on state and local tax deductions. Assembly Bill 2162 would fast-track housing developments for […]
Where the candidates for California governor stand on Housing
Huntington Beach Assemblyman Travis Allen, Republican: Allen has a goal for developers to build at least 1 million new homes in his first four years as governor. He believes the state needs to strip away many of the regulations around home building, which he says would allow developers to increase the housing supply. He doesn’t support […]
SF Bay Area Metro Cities Ranked By One Bedroom Rent
The Most Expensive San Francisco, CA rent, similar to last month, remained at $3,400 and as the most expensive in the metro. Mountain View, CA was second with rent climbing $10 to $3,110. Emeryville, CA ranked as third with rent at $2,790. The Least Expensive Vallejo, CA rent dropped $70 to $1,420 and continued to […]
Can Legislation Lower California exorbitant Real Estate Prices?
Through shifting control of land use policy from local to regional governments, Senate Bill 827 wants to reduce the Golden State’s cost of housing. State Senator Scott Wiener, the movement’s champion in the California Senate, has proposed a new bill SB 827, that, if passed, would compel California cities to allow dense, mid-rise housing within […]
Mortgage Rates Surge to Highest Since 2013
Mortgage rates surged to their highest level in almost five years this week. Unlike the extremely mild and uneventful day-to-day changes seen for most of the past 2 months, rates are actually putting some distance between themselves and the March plateau. Whereas a well-qualified borrower with 25% down may have been quoted a conventional […]
Bay Area trend – low earners move out, high earners move in
New residents to the Bay Area are earning far more than the people they’re chasing out, pushing up home prices and highlighting the gap between owners and renters in Silicon Valley. Lower income workers moving out of the Bay Area were being replaced by younger workers making about $12,640 more annually from 2005 to 2016, […]
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 […]
