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Northern California’s Bay Area 2016 Year End Review

These statistics and information suggest that it is the right time to invest in real estate, before the inevitable increases that historically occur in the Spring.

Pacific Union’s Economist, Selma Hepp, recently published the following data regarding the real estate market in the Bay Area:

  • The December home sales decline in the Bay Area was larger than historically seen between November and December.
  • Activity among higher-end homes picked up in December, especially in San Francisco and Silicon Valley, where that price point struggled earlier in the year.
  • The decline was led by slower activity among homes priced below $1 million, which is a function of higher mortgage rates, but also a severely depleted inventory of affordable homes for sale.
  • December inventory levels fell by double the rate from November than seen since 2008. There were 4 percent fewer home sales in 2016 than in 2015, with a larger decline in Marin and Alameda counties.
  • Among the eight Bay Area counties — excluding Solano — only Napa County home sales activity finished 2016 on a stronger note than last year.

 

The strongest 2016 appreciation was recorded in Sonoma, Alameda, and Contra Costa counties.  December buyers remained enthusiastic in Napa and Sonoma counties, while San Francisco and Silicon Valley continued to see relatively fewer buyers willing to engage in bidding wars.

Overall, however, home sales in all of 2016 were only about 4 percent lower than in 2015. Marin County saw the largest decline, with a 7 percent drop in sales, followed by a 5 percent decline in Alameda County. The other Bay Area counties saw 3 percent to 4 percent declines in sales.

We are here to help you take advantage of the real estate market before prices increase, with alternative financing lending, also known as Hard Money.  If you are turned down elsewhere or need a fast loan, call us.  We can answer your questions at 707-523-2099. 

Pacific Union Bay Area Real Estate Blog: http://blog.pacificunion.com/election-outcome-and-rising-mortgage-rates-temporarily-halt-bay-area-sales/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+pacunionblog+%28Pacific+Union+Blog%29

Investors Are Buying An Ever Increasing Number Of Homes

LENDER’S VIEWPOINT

By Forest Tardibuono, Guy In The White Hat

Investors Are Buying An Ever Increasing Number Of Homes

[youtube=http://www.youtube.com/watch?v=WGFisHIVFJE&w=448&h=252&hd=1]

 

See why it IS the time to buy a home!

I feel like it is my calling to promote home ownership in America. You might think I have an inherent conflict of interest as I currently own a mortgage and real estate company and have been in the business for more than 23 years doing just that. And that is absolutely true. Unless someone in my vicinity is buying, selling or financing a home, I don’t make a living.

So when faced with the above conflict, don’t buy into my enthusiasm for the American Dream but look at the facts and decide for yourself. I mean really look at the facts and what they mean. That really is what I do as a professional in this field is give people facts, the good the bad and the ugly and let them make an informed decision.

By the way, a gloomy headline in your local newspaper or on the radio or internet is not a fact. Someone, usually not an expert in the field they are reporting in, gathers information about a topic of interest and writes an article. They then look it over, and create a headline for it that is anywhere from alarming to horribly bad. They do that in the hopes that you will read it.

If you are stopped at all from buying a home even though you know you should, stop reading the darn press! Stop listening to the news. Bad news sells newspapers – a fact. I read a recent article that the worse the world events, the more people read the newspaper. They are trying to keep abreast of what is going on and the most widespread mediums they are looking to for information deal in bad news! It stifles you!

Onto the really good news: The above headline is an absolutely key indicator of why you should buy a home right now. In any area you may live, the rough gauge of investor buying is all cash deals. Not all cash deals are by investors but like I say, it is a rough gauge.

In March 2011 in Sonoma County California where I live, all cash transactions accounted for 28% of the homes sold. All cash purchases have accounted for about 10% of the sales over the last decade, but became more common as home prices declined. What do investors know that keep them buying in spite of the bad news? They are probably cheering all the bad news because it keeps competition for these rock bottom home prices to a minimum. They know to buy because the homes bought today can cash-flow. They are buying today because the homes, in my County for instance, are at 50 cents on the dollar from 5 years ago and there will likely not be an opportunity like this again!

So follow their lead. Investors are investors for a reason. Very key indicator.

Forest Tardibuono- the Guy in the White Hat – is a CA DRE Broker with more than 23 years of experience in real estate and lending.  His phone number is (707) 523-2099.  Email is Forest@sunpacmortgage.com.  See website @ www.sunpacmortgage.com. DRE#01464899/NMLS #360993

The Guy In The White Hat Comes To Homebuyers’ Rescue!

The Guy In The White Hat Comes To Homebuyers’ Rescue!

[youtube=http://www.youtube.com/watch?v=k3eFWtb6pz0&w=448&h=252&hd=1]

 

Ever since we opened our doors in Sonoma County in 1988, we’ve given extra care to round up people who have been “Turned Down Elsewhere?” – because of credit, income, the property or a combinations of these.

We are the local Hard Money Lender who can help rescue your deal…and get your Buyer into that Home!

Here are some Hard Money Buyers recently rescued…

Home Purchase Purchase price $237,000. Buyers had a friend who loaned them the down payment of 20% as a 2nd mortgage. Purchase money first of $189,600. 100% combined loan to value!

Flipper 80% Loan to Value (LTV) in Santa Rosa. Loan amount $315,000 on a fixer upper. 12% interest only for 12 months. This loan was done in 4 days!!

Owner Occupied Principal Residence Purchase – A conventional lender denied this loan due to a foreclosure. 50% Down. Loan amount $90,000 at 12% interest only. 10 days from application to recording!

Loan approval is based on just 2 criteria:

1. Good Down Payment

2. Ability to Repay

  • FAST Private Money for purchasing in Sonoma County and contiguous Counties
  • FICO is not a factor
  • Up to 75% loan-to-value – Case by case basis
  • Loan amounts from $75,000 to $400,000
  • Owner Occupied and Investor Loans

SPECIAL NOTE: WE CAN DO A LOAN FOR SOMEONE FRESH OUT OF FORECLOSURE, BANKRUPTCY OR SHORT SALE!

CALL FOREST at 523-2099

Or email him at forest@sunpacmortgage.com

Visit us @ www.sunpacmortgage.com

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