East Bay Real Estate Blog

5 Reasons to Hire a Real Estate Professional When Buying or Selling! | MyKCM

Whether you are buying or selling a home, it can be quite an adventurous journey. This 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

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A report released by Down Payment Resource shows that 61% of first-time homebuyers purchased their homes with a down payment of 6% or less.

The trend continued among all buyers with a mortgage, as 73% made a down payment of less than 20%.

An article by Chase points to a new wave of millennial homebuyers:

“We teamed up with Google to help us better understand what customers are searching for and how the home buying landscape is evolving. We found that millennials and first-time homebuyers are making a big splash in the market, and affordability remains top of mind.”

Among millennials who purchased homes, David Norris, Loan Depot’s Head of Retail Lending, said:

“It’s clear from the survey results that Millennials have a lot of

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As further evidence that the Marina Bay real estate market is hot, my two most recent sales at Anchor Cove set new sales records for the community. 1812 Northshore Dr. and 1912 Northshore Dr. are both identical floor plans with 2053 SF and 3 bedrooms and 3.5 baths. I first listed 1812 Northshore Dr. at $675K in August. We received 3 offers and the property sold for $685K. In September I listed the neighboring property of 1912 Northshore Dr. for $690K. After two weekends of open houses my seller accepted an offer of $701K. For more details on each of these properties please visit:   www.1812Northshore.com www.1912Northshore.com   Needless to say that both of my sellers were ecstatic about the final sales prices of their homes. Prices…
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The Cost of Renting vs. Buying a Home [INFOGRAPHIC] | MyKCM

Some Highlights:

  • Historically, the choice between renting or buying a home has been a tough decision.
  • Looking at the percentage of income needed to rent a median-priced home today (29.2%) vs. the percentage needed to buy a median-priced home (15.8%), the choice becomes obvious.
  • Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year!

Contact us for experienced representation when buying or selling a home in the East Bay.

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Congratulations to my first-time buyers who just closed escrow on this delightful 3 bedroom, 2 bath, 1,334 square foot home!

Located in San Leandro's sought-after Broadmoor district, this home features an open concept living room, dining room and kitchen. All leading out to a spacious back yard and workshop with endless gardening possibilities. Convenient and walkable to downtown, shopping, schools, and BART.

My clients relocated from San Francisco to enjoy the space and sunshine of the East Bay. I’m delighted to have helped make their dreams of home ownership come true!

Call me today to find out how I can do the same for you!

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Buying Remains Cheaper Than Renting in 39 States! | MyKCM

In the latest Rent vs. Buy Report from Trulia, they explained 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 updated numbers show that the range is an average of 3.5% less expensive in San Jose (CA), all the way up to 50.1% less expensive in Baton Rouge (LA), and 33.1% nationwide!

A study by GoBankingRates looked at the cost of renting vs. owning a home at the state level and concluded that in 39 states, it is actually ‘a little’ or ‘a lot’ cheaper to own (represented by the two shades of blue in the map below).

Buying Remains Cheaper Than Renting in 39 States! | MyKCM

One of the main reasons owning a home has remained significantly cheaper than renting is the fact that interest rates have

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Millionaire to Millennials: Buy a Home Now! | MyKCM

In a CNBC article, self-made millionaire David Bach explained that “the single biggest mistake millennials are making” is not purchasing a home because buying real estate is “an escalator to wealth.”

Bach went on to explain:

“If millennials don’t buy a home, their chances of actually having any wealth in this country are little to none. The average homeowner to this day is 38 times wealthier than a renter.”

In his bestselling book, “The Automatic Millionaire,” Bach does the math:

“As a renter, you can easily spend half a million dollars or more on rent over the years ($1,500 a month for 30 years comes to $540,000), and in the end wind up just where you started — owning nothing. Or you can buy a house and spend the same amount

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he Truth About Homeowner Equity | MyKCM

A recent article from a reputable news source was titled: Here's why some homeowners still can't sell. In the opening bullets of the article, the author claimed, “Negative equity is one of the main reasons why there are so few homes for sale.” The article then goes on to soften that stance but we want to bring better clarity to the equity situation.

A recent report from CoreLogic (which was quoted in the article) revealed that over 80% of all homes now have “significant equity,” which means the home has over 20% equity. That level of equity allows the homeowner to sell their home if they so desire. (There was no reference to significant equity in the article.)

If eight out of ten homeowners now have significant equity in their homes, it is hard

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I had a pleasure helping my buyers purchase their 1st California home sweet home.  Congratulations! 

After selling their out-of -tate property, they were ready to purchase their home in East Bay.  They found this fabulous townhouse with many upgrades in a great neighborhood.  Their offer was strong and they won among multiple offers!  After 17 days of hard work, they got the house at $825,000! 

 Very exciting!

 

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What to Look for in Your Real Estate Team | MyKCM

How do you select the members of your team who are going to help you make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender?

The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market.

As Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Do your research. Ask your friends and family for recommendations of professionals whom they have

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