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Showing posts from May, 2017

4 Insider Tips to Make the Most of Open Houses

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Have you visited any open houses in the neighborhoods you're interested in? Make sure you're maximizing your weekend trips with these four must dos.

JUST LISTED! 1849 Rigoletto Dr, San Jose

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Just Listed! 1849 Rigoletto Dr, San Jose 4BD/2BA 2-level Evergreen Home Offered at $628,000 Extensively renovated four bedrooms two baths 2 level Evergreen home. Beautifully remodeled kitchen boasts beautiful cabinetry, granite countertops, new stainless steel appliances opens to the dining area and spacious living room with fan. New bathrooms offer modern tiling, granite vanities and jetted shower fixture.

City Hall debates how much affordable housing to demand from developers

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Two different new plans would subject development to two different new formulas San Francisco has two new plans in the works for how much affordable housing to ask from developers. However, lawmakers put off a scheduled showdown between them this week, possibly to work out a compromise. In 2016, voters granted the Board of Supervisors the power to decide how much affordable housing the city can ask for from developers. Right now it’s 12 to 20 percent of total units for buildings with 24 homes or fewer and up to 33 percent for bigger projects. (The actual number depends on whether the developer opts to create affordable units in their own building or pay a fee to build them elsewhere. The percentage for fee payment is higher.) In a report issued last week, the city’s Office of Economic Analysis observed: [Subsidies are] paid by the market-rate housing developer, which increases their cost of development. It is often argued that developers pass these costs on to land-owners

Low Inventory Preserves Sellers’ Market in Northern California

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Northern California continues to experience a healthy sellers’ market with median and low priced properties and, in some areas, with reasonably priced luxury properties. Due to the limited inventory and high demand for median priced properties, most reasonably priced listings receive multiple offers above asking price. According to the National Association of Realtors® (NAR), in March there was a 0.8 percent decline in the Pending Home Sales Index based on contract signings from February to March, but there was a 0.8 increase in the Pending Home Sales Index based on contract signings compared to March 2016. “Sellers are in the driver’s seat this spring as the intense competition for the few homes for sale is forcing many buyers to be aggressive in their offers,” said Lawrence Yun, NAR chief economist. “Buyers are showing resiliency given the challenging conditions. However, at some point—and the sooner the better—price growth must ease to a healthier rate. Otherwise sales could slow