East Bay Real Estate Blog

Whether you are buying or selling a home it can be quite an adventurous journey, which is why you need an experienced real estate professional to guide you on the path to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO.

The 5 reasons you NEED a real estate professional in your corner haven’t changed, but have rather been strengthened by the projections of higher mortgage interest rates & home prices as the market continues to pick up steam.

1. What do you do with all this paperwork?

Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true real estate professional is

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Owning a home has great financial benefits, yet many continue renting! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.

Zillow recently reported that:

“With Rents continuing to climb and interest rates staying low, many renters find themselves gazing over the homeownership fence and wondering if the grass really is greener. Leaving aside, for the moment, the difficulties of saving for a down payment, let’s focus on the monthly expenses of owning a home: it turns out that renters currently paying the median rent in many markets could afford to buy a higher-quality property than the typical (read: median-valued) home without increasing their monthly

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With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago.

Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild.

Eventually, the excess in new construction and the flooding of the market with distressed properties (foreclosures & short sales), caused by the lack of appropriate lending standards, led to the housing crash.

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If you are considering moving up to your dream home, it may be better to do it earlier in the year than later. The two components of your monthly mortgage payment (home prices and interest rates) are both projected to increase as the year moves forward, and interest rates may increase rather dramatically. Here are some predictions on where rates will be by the end of the year:

Freddie Mac

“While full employment and rising inflation are signs of a strong economy, they also have the potential to push mortgage rates and house prices up. The higher rates and higher prices create significant affordability concerns, which may continue to characterize the housing market for the rest of 2017.”

Lynn Fisher, Vice President of Research & Economics for

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Homeownership will always be a part of the American Dream. There are advantages to owning your own home (educational, health, social) that far transcend any economic impact. However, we want to look at several of the financial advantages of homeownership in today’s post.

1. Buying is Cheaper Than Renting

The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting with a traditional 30-year fixed rate mortgage in the 100 largest metro areas in the United States. The report reveals that:

“Interest rates have remained low, and even though home prices have appreciated around the country, they haven’t greatly outpaced rental appreciation…Nationally, rates would have to reach 9.1% for renting to be

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My first time home buyers recently closed on this amazing, modern, newly built home in San Leandro. They were a bit concerned when we began our home search due to the extreme competitiveness of the current East Bay real estate market. But our search only lasted a few weeks and the only offer that we wrote was for this super cool home, an offer which was accepted. My clients are not only first time home buyers, but parents as well. Their baby was born just a few weeks prior to us finding this house, so the timing couldn't have been much better! I wish them the best on this next chapter of their life and thank them for their business. A big thank you as well to my previous clients who recommended them to me!

Home features include:
-4 Bedrooms, 2.5

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Nestled in Upper Kensington, this modern dwelling, completed in 2015, is a rare find. Custom made to maximize views of the Bay and four bridges, it stands up tall and elegant. Stepping up to the front sliding door, you encounter breathtaking views of the Bays. The door opens up to a two-story open space with a cozy sitting area, and a casual kitchen and dining area. There is a huge deck in front to entertain your friends and family both day and night. Pure California style indoor/outdoor living is achieved effortlessly. The living room is toward the back of the house, where you can accommodate your guests....

More details?  Please visit: http://15garden.com/

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Emeryville is a small city with not too many food choices. Even though the Public Market is coming along nicely, it’s sometimes hard to know where to go for breakfast. I compiled a list of Emeryville (and Oakland) choices. I am sure there are a couple more, like the black bear diner and Denny’s. I am not a fan of big chains and that’s why I stuck with smaller places

  1. Doyle Street Café is a classical American breakfast spot (says the German…). You will find nice standard breakfast fare and delicious specials. I think their home fries are yummy. I like mine extra crispy. Open Mon–Fri 8AM–3PM
  2. Tribu could use a facelift, but the food is good. I get their breakfast burrito or chicken sandwich. Open Mon–Sun 7AM–8PM
  3. Chile Jalapeno
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This 4 BD/1.5 BA property is an ideal starter home or investment opportunity. The property has a large private backyard & spacious living/dining areas. Garage used as additional 5th bedroom/living area but can be easily converted back. Some TLC needed to bring this home back to its full potential.

Features include new double pane windows throughout, new HVAC system & water heater. Ideal commuter location. Just blocks from San Pablo Ave., freeway access and El Cerrito Del Norte BART Station. Excellent opportunity to own in the East Bay. Located on a wide and quiet side street with little through-traffic.

Ary Assadi
East Bay Modern Real Estate
510-833-9691
Ary@EastBayModern.com

 

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Many Americans got some depressing news last week; either their tax return was not as large as they had hoped or, in some cases, they were told they owed additional money to either the Federal or State government or both. One way to save on taxes is to own your own home.

According to the Tax Policy Center’s Briefing Book -“A citizen's guide to the fascinating (though often complex) elements of the federal Tax System” - there are several tax advantages to homeownership.

Here are four items, and a quote on each, from the Briefing Book:

1. Mortgage Interest Deduction

“Homeowners who itemize deductions may reduce their taxable income by deducting any interest paid on a home mortgage. The deduction is limited to interest paid on up to $1 million

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