East Bay Real Estate Blog

More Boomerang Buyers Are about to Enter the Market | MyKCM

We previously informed you about a study conducted by TransUnion titled, “The Bubble, the Burst and Now – What Happened to the Consumer?” The study revealed that 1.5 million homeowners who were negatively impacted by the housing crisis could re-enter the housing market between 2016-2019.

Recently, HousingWire analyzed data from the US Bankruptcy Courts and revealed that 6 million Americans will have their bankruptcies disappear off their credit reports over the next five years and that this could “ possibly send a flood of more homebuyers into the housing market.”

The chart below shows the total number of bankruptcies filed by year in the US over the last 10 years. The light blue bars represent over 3.3 million people who have already waited the

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Congratulations to my overseas sellers who found a bank-owned property when the US real estate market was at rock bottom and just sold it in today's skyrocketing market! Way to go. The sellers received multiple offers and the property was sold for $565,000 - $20,000 above the listing price!

If you are thinking of selling or buying in Oakland, please contact me anytime! - Hiroko Tsumori

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58% of Homeowners See a Drop in Home Values Coming | MyKCM

According to the recently released Modern Homebuyer Survey from ValueInsured, 58 percent of homeowners think there will be a “housing bubble and price correction” within the next 2 years.

After what transpired just ten years ago, we can understand the concern Americans have about the current increase in home prices. However, this market has very little in common with what happened last decade.

The two major causes of the housing crash were:

  1. A vast oversupply of housing inventory caused by home builders building at a pace that far exceeded historical norms.
  2. Lending standards that were so relaxed that unqualified buyers could easily obtain financing thus enabling them to purchase a home.

Today, housing inventory is at a 20-year low

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Every three years, the Federal Reserve conducts their Survey of Consumer Finances in which they collect data across all economic and social groups. The latest survey, which includes data from 2010-2013, reports that a homeowner’s net worth is 36 times greater than that of a renter ($194,500 vs. $5,400).

The latest survey data, covering 2014-2016 will be released later this year. In the meantime, Lawrence Yun, the National Association of Realtors’ Chief Economist estimates that the gap has widened even further, to 45 times greater ($225,000 vs. $5,000)!

Put Your Housing Cost to Work for You

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.

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Built in 2006, 1812 Northshore Drive is a beautiful multi-story home situated on an end-location within a lush and private courtyard. At 2053 SF (per tax records), this is one of the largest floor plans in the desirable Anchor Cove community, consisting of 3BD, 3.5BA, balcony, front terrace and a large bonus loft on the top floor ideal for use as a media room/office, or as a 4th bedroom.

The main living and dining areas feature elegant dark solid bamboo flooring & all bathrooms have been upgraded with large format tile flooring. Ideal for entertaining, the seamless transition from kitchen to dining areas includes bar seating & an en-suite balcony perfect for summer BBQs. The lower level full bedroom and bath provide extra privacy for homeowners

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Hey, Millennial Homeowners!! It May Be Time to Sell | MyKCM

Contrary to what many believe, Millennials are not the ‘renter’ generation. Millennials purchased a larger percentage (34%) of homes in the U.S. than any other age group in 2017 and the most recent Census Bureau report shows that the homeownership rate among Millennials is finally on the rise .

Many Millennials took advantage of post housing crash prices and the First-Time Homebuyers’ Tax Credit and jumped into homeownership in 2010. If you are one of these buyers, now may be the time to sell for many reasons. Here are a few:

1. Equity Build-Up

Home prices have been on the rise since the beginning of 2012 and your house may have appreciated by more than you think. ATTOM Data Solutions , in their Q2 2017 U.S. Home Sales Report revealed that:

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93.9% Of Homes in The US Have Positive Equity | MyKCM

CoreLogic’s latest Equity Report revealed that ninety-one thousand residential properties regained equity in Q1 2017. The outlook for 2017 remains positive as well, as an additional 600 thousand properties will regain equity if home prices rise another 5% this year.

The study also revealed that:

  • Roughly 63% of all homeowners have seen their equity increase since Q1 2016
  • The average homeowner gained about $14,000 in equity between Q1 2016 and Q1 2017
  • Only 1.6% of residential properties are near-negative equity

Below is a map showing the percentage of homes with a mortgage, in each state, that have positive equity. (The states in gray have insufficient data to report.)

93.9% Of Homes in The US Have Positive Equity | MyKCM

Significant Equity Is On The Rise

Frank Martell,

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428 Alice offers sophisticated urban living in the Oakland Waterfront's Jack London Square. Unit 428 is a corner unit with abundant light and wall-of-glass windows.  It has bamboo floors in the kitchen/dining/living area and comfortable luxurious carpeting in two bedrooms. The kitchen is equipped with stainless steel appliances. The living/dining area has floor-to-ceiling glass windows with custom shades for privacy. The ceiling are concrete, coupling industrial coolness with sophistication. A washer/dryer hookup is in the unit.  For more info, please visit: www.428alice-428.com.  

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Millennial Homeownership Rate Increases | MyKCM

Recent headlines exclaimed the homeownership rate, as reported by the Census Bureau, rose again in the second quarter of 2017. What didn’t get much attention in the reports is that the homeownership rate for American households under the age of 35 increased a full percentage point from last quarter’s 34.3% to 35.3%. Millennials proved to have the highest increase of any age group.

This came as a surprise to some considering Millennials have come to be known as the “renter” generation. However, a new study by First American, 6 Trends Poised to Reshape Homeownership Demand, revealed reasons why homeownership numbers will continue to increase for Millennials.

Millennials are the most educated generation in the U.S.

Why does that matter? First

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Stay tuned for this exciting opportunity to own one of the largest town houses at Marina Bay's coveted Anchor Cove community. This end-unit town house is privately located within a court yard and comes with numerous upgrades such as solid bamboo flooring, tile bathrooms, and best of all a bonus loft that can be used as a fourth bedroom or as a media room or office. We'll be coming on the market in early August so please feel free to reach out with any questions! For a sneak peek see: www.1812northshore.com   Ary Assadi
East Bay Modern Real Estate
510-833-9691
Ary@EastBayModern.com
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