August 2018

Found 9 blog entries for August 2018.

One of my absolute favorite sales this year. It's not every day that I get to sell such an architecturally significant property. This one is was a mixed use (commercial/residential) former emergency clinic built in 1951 and commissioned by renowned Bay Area architect William Wurster. It's going to be turned into a real estate brokerage! Photos courtesy of Leila Seppa Photography 

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Rent or Buy: Either Way You’re Paying A Mortgage! | MyKCM

There are some people who have not purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize, however, that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As Entrepreneur Magazine, a premier source for small business, explained in their article, “12 Practical Steps to Getting Rich”:

“While renting on a temporary basis isn’t terrible, you should most certainly own the roof over your head if you’re serious about your finances. It won’t make you rich overnight, but by renting, you’re paying someone else’s mortgage. In effect, you’re making someone else rich.”

With home prices rising, many renters are concerned about their

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Just listed in Berkeley's sought after neighborhood, Westbrae, at $649,000. This is a fantastic opportunity to create your dream home!   Please read more details at 1353SantaFe.com

It will be open tomorrow (Aug 23) from 9:30am to 12pm, and this Sat (Aug 25) and Sun (Aug/26) from 2 to 4:30pm.  Please stop by!

Make this home your home sweet home!!

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It was my pleasure to help the sellers of this one-of-a-kind Fairview property prepare, stage, and sell their home of more than 30 years. Designed and built by violin maker and local music teacher Jack Williamson, this residence was envisioned for playing chamber music and Jack’s violin workshop. The builder's attention to detail was highlighted in our marketing campaign from the custom built-ins to the beautiful clear heart redwood walls and hemlock ceilings throughout.

The home sold after only 12 days on the market with multiple offers and $76,000 over the asking price!

Contact me today at 510-967-6169 to find out how I can provide the same high level of service and outstanding results for you!

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The Net Worth of a Homeowner is 44x Greater Than A Renter! | MyKCM

Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. Their latest survey data, covering 2013-2016 was recently released.

The study revealed that the median net worth of a homeowner was $231,400 – a 15% increase since 2013. At the same time, the median net worth of renters decreased by 5% ($5,200 today compared to $5,500 in 2013).

These numbers reveal that the net worth of a homeowner is over 44 times greater than that of a renter.

Owning a home is a great way to build family wealth

As we’ve said before, simply put, homeownership is a form of ‘forced savings.’ Every time you pay your mortgage, you are contributing to your net worth by increasing

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Have You Outgrown Your Starter Home? | MyKCM

For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.

It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!

According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%.

Have You Outgrown Your Starter Home? | MyKCM

These two stats are

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Are You Thinking of Selling Your Home? Competition Is Coming! | MyKCM

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May.

How will this impact buyers?

More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy:

“The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.”

How

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5 Reasons to Hire a Real Estate Professional Before Entering the Market! | MyKCM

Whether you are buying or selling a home, it can be quite the adventure. In this world of instant gratification and internet searches, many sellers think that they can ‘For Sale by Owner’ or ‘FSBO,’ but it’s not as easy as it may seem. That’s why you need an experienced real estate professional to guide you on the path to achieving your ultimate goal!

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 and 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

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Are Lending Standards Propping Up Home Prices? | MyKCM

Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say:

“The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern…some households may be employing these instruments to purchase homes that would otherwise be unaffordable, and consequently their use could be adding to pressures in the housing market.”

Greenspan was warning that the loosening of lending standards could lead to disaster. And it did.

With home prices again appreciating at percentages well above historic norms, many are wondering whether the market

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