Our Blog

Thinking about selling your home? Spend a little on staging your home, in order to net a higher return!

For more information about the Local Real Estate Market, Contact Us, Nidia Nuristani (408) 836-2457 Blanca Ramirez (408) 608-8713.

Don’t forget to register to receive up to date Real Estate information in your area!

Visit Our Blog for the up to date news on Real Estate.

2014-year was a HUGE year for Real Estate.  Home values were at an all-time high. Inventory continued to bottom out and multiple offers were the norm.  According to the National Association of Realtors, our county saw an average of an 8% value increase.  Some areas saw as much as a 20% value increase.

Banks began to relax some lending guidelines in order to make it possible for hundreds of thousands of additional consumers to get mortgages. Interest rates remained at an all-time low of 3.5% to 4%. And with home values rising, Home-equity loans made a triumphant return giving consumers the confidence to invest in their home; upgrading kitchens, bathrooms and even adding square footage.

Furthermore, our economy is going thru a structural and revolutionary change.  Tech has taken over!  Stock was up 30% last year. Many people recouped all or most of what they lost in the stock market crash of 2007 & 2008.  Economists predicted the Dow would be over 17,000 by years end…and that was the case.  Congress’ focus is now on IPOs, revenue, unemployment, and keeping interest rates low.

What’s going on in the Silicon Valley?  We’ve done 50 years of technology advancement in the last 14 years.  People are worried of a second bubble, but economists assure us that’s not the case as they don’t think interest rates will rise until late 2015.  With so many robust companies such as Google, Yahoo and Facebook, creating and innovating, the Silicon Valley has the buying power of a small country.  These companies are buying 5-6 companies a week generating billions and hiring tons of local talent with great pay, also referred to as Millennials, ages 25-45.  Silicon Valley’s unemployment is 4%, which is much lower than the national average. We’ve created ¼ of all new jobs nationwide right here.  We are living in one of the wealthiest cities nationwide where there is 25% all cash.  

The median house price has gone up from $280k in the downturn to $681k today.  Millennials are the generation to appeal to.  They are referred to as the ME generation.  They buy what they want when they want.  They’re looking for convenience and luxury.  They want all upscale, remodeled, good school districts, easy access to coffee shops, doggie day care and spas.  Although there are more homes on the market, there still isn’t enough inventory to accommodate all the new demand of the Millennials. 

As a homeowner or potential seller, what does this mean for you?  There are many buyers with lots of cash, looking to buy something turn-key.  Interest rates remain low which allows for more buying power.  But how long with this last? If you have been thinking about selling, NOW is a great time to list your home.  Call or email your favorite Realtors:

Nidia Nuristani, nidia@hbrealtyinc.com, (408) 836-2457

Blanca Ramirez, blanca@hbrealtyinc.com, (408) 608-8714

In a recent survey released by realtor.com, the next generations of homebuyers say they will move to the suburbs for the quality of schools for their children. Millennials are the generation born between the 1980’s and 2000’s are in fact less likely than other generations to settle on school districts when house hunting.

Fifty-two percent of millennials call school districts a deal-breaker in their home search. According to realtor.com’s chief economist, Jonathan Smoke, “High ranking schools can have a positive impact on home values over time as new families pay a premium for access to better schools.”

Gone are the days of the McMansions and private schooling, the future lies in the suburbs and public school districts.

For more information about the Local Real Estate Market, Contact Us, Nidia Nuristani (408) 836-2457 Blanca Ramirez (408) 608-8713.

Don’t forget to register to receive up to date Real Estate information in your area! 

Visit Our Blog for the up to date news on Real Estate.

There has been a lot of news in the finance world in the past week. Mortgage giant Wells Fargo announced that they are looking to ramp up the number of its mortgages for home purchases, to make up for the big drop in refinancing applications this past year.  The Refinancing bubble of last year helped Wells Fargo reach record-breaking annual profits, which have cooled this year.  So now Wells Fargo has shifted their attention to home loan purchases.

According to Freddie Mac, mortgage rates continued on a low streak, moving to a yearly low at an average of 4.12 percent on a 30-year fixed-rate while a 15-year fixed-rate averaged out to 3.24 percent and a 5-year hybrid adjustable-rate averaged in at 2.97 percent.

The rates are there for first time home-buyers to take advantage of however the entry-level home market has started to dry up. As has been throughout the year, inventory is still low and eager home-buyers have been stuck with wanting to purchase a home with very little options to buy. Although there were some bright spots in the months of May-August, opportunity was still very minimal.  With homeowners poised to make quite a bit of return buy selling, the fears of 2007-2011 seem to still play a significant role in today’s housing market.

For more information about the Local Real Estate Market, Contact Us, Nidia Nuristani (408) 836-2457 Blanca Ramirez (408) 608-8713.

Don’t forget to register to receive up to date Real Estate information in your area! 

Visit Our Blog for the up to date news on Real Estate.

In a recent poll conducted on more than 1,000 prospective homebuyers that were asked what changed for them to jump into the home buying process?

The Top 10 Responses Were:

1. 25% said they needed a bigger home
2. 24% said they want to live in a better neighborhood
3. 22% said family circumstances that caused a change in needing a new home
4. 22% said they are now financial stable to make buying a home possible
5. 20% said that home prices on the market have become more affordable
6. 20% said they improved their credit score to qualify for a better mortgage
7. 18% said mortgage rates and lending options have become more affordable
8. 17% said they have saved enough for a down payment
9. 16% said that there are more home options available for sale on the market
10. 10. 13% said that they want to catch mortgage rates while they are still low

For more information about the Local Real Estate Market, Contact Us, Nidia Nuristani (408) 836-2457 Blanca Ramirez (408) 608-8713.

Don’t forget to register to receive up to date Real Estate information in your area! 

Visit Our Blog for the up to date news on Real Estate.

In recent years due to the instability of Real Estate Market, millennials postponed leaving the comfort of their parent’s nest.  With the rates higher that could be imagined and home prices exceeding the means for young adults to live a comfortable life, the idea of owning a home was forgone.

Fast Forward to 2014, with interest rates continuing to be at an all time low and the economy on an upswing shift, young adults are now motivated to branch out and form their own household.  This however doesn’t necessarily mean that the millennials are purchasing homes, this simply means that these young adults are moving into rentals, which is expected to support a series of positive steps that lead to owning a home.

In a report by Harvard University’s Joint Center for Housing Studies, it is predicted that 2.7 million more households will form among people in their 30’s over the next decade.  A decade is quite a bit away nevertheless we are seeing the effects come to fruition, today. 

In a recent survey: The 18 to 24 living with parents or a related subgroup dropped from 56 percent to 55 percent in one year. Now 1 percent may seem minimal, however this is the first time in quite sometime that there is an increase rather than a decrease. That 1 percent represents 300,000 people previously living with their parents that are now looking for a household of their own.

For more information about the Local Real Estate Market, Contact Us, Nidia Nuristani (408) 836-2457 Blanca Ramirez (408) 608-8713.

Don’t forget to register to receive up to date Real Estate information in your area! 

Visit Our Blog for the up to date news on Real Estate.

Nationwide, the median age of housing inventory is 78 days, which happens to be a 5 percent month-over-month rise in May.  Denver, Colorado continues to be the leader in the nation with the lowest median age of housing inventory, however California leads with 5 cities in overall top 10 cities with the lowest median age of inventory nationwide.

Oakland, San Jose, San Francisco, Stockton, and Sacramento have seen homes being sold within a month’s time. While home prices continue to increase, interest rates and the stability of the economy have brought an influx of eager homebuyers wanting to take advantage of securing a 30-year fixed loan with a low interest rate.

Read below of the complete list:

1.    Denver, Colo.: 20 days
2.    Oakland, Calif.: 27 days
3.    Seattle-Bellevue-Everett, Wash.: 30 days
4.    San Jose, Calif.: 32 days
5.    San Francisco: 34 days
6.    Anchorage, Alaska: 36 days
7.    Boulder-Longmont, Colo.: 38 days
8.    Stockton-Lodi, Calif.: 39 days
9.    Sacramento, Calif.: 40 days
10.  Omaha, Neb.: 43 days

For more information about the Local Real Estate Market, Contact Us, Nidia Nuristani (408) 836-2457 Blanca Ramirez (408) 608-8713.

Don’t forget to register to receive up to date Real Estate information in your area! 

Visit Our Blog for the up to date news on Real Estate.