News From The Nest

Spring Selling Season!

Traditionally, Spring is the busy season in real estate. The weather is warming, the trees are blooming, and the school year is almost complete. This is the national trend, but for the Bay Area seasonality has not played a large role in recent years. Perhaps it's our mild year round weather, but more than likely it's due to our hot real estate market- there has simply been no slow down!

This year is already off to a record start. If you thought Bay Area real estate was out of control already, just wait for this Spring season! With the continuance of high demand and low supply, homes continue to sell with multiple offers significantly over their list price.

On the other hand, perhaps anecdotally, I have seen the first signs of buyer fatigue and hesitancy due to increasing interest rates. This varies widely based on price range and location, and much remains to see how global events and economic factors may affect the local real estate market.

There has been an uptick in inventory and through my network of local agents I hear the buzz of more listings to come. Want to hear about listings before they are available to the public? Keep scrolling for a peak of upcomings listings not yet on the market.

If you have been thinking about putting your home on the market, get ahead of preparing to sell your home. Inspections, repairs and upgrades are taking longer to schedule and complete due to shortages of supplies and labor.

As always, feel free to reach out with any real estate questions. I would be happy to assist you, your family and friends!

All my best,
Daniella

This past year we witnessed the fastest rise in US home prices over any 12-month period in the past 45 years. The median sales price has continued to increased and so has the number of active listings. As much as we hear of migration out of California, there is also quite a bit of movement within the Bay. Contra Costa has seen an influx of buyers from both San Mateo and Santa Clara counties, where the median home price has reached $2 million. Peninsular and South Bay buyers look to Contra Costa as a more affordable option.

Buyers searching for a home in the past year already know how competitive the real estate market is, and talk of rising home prices and interest rates can discourage new buyers from entering the market. Buyers must seek ways to give themselves an advantage over the competition, and since making a larger down payment or an all-cash offer isn’t possible for everyone, we need to get creative. Here are a few tips I arm my buyers with:

1. A fully underwritten loan approval: A fully underwritten approval is the most comprehensive mortgage pre-approval a homebuyer can receive. The key difference compared to a standard pre-approval letter is that the mortgage lender performs the majority of the underwriting process before a homebuyer even makes an offer. In this market, any winning offer has been through a thorough and fully underwritten review. This also allows for a quicker close which is attractive to most sellers.

2. Creative Financing: Have equity in your current home you would like to use as a down payment on a new one? Stressed about selling your home and not yet having your next one lined up? Renting a home could be one of your temporary options but prices of rental homes have also increased. Bridge loans, equity lines and other creative options may enable you to buy a new home and move in even if your existing home is not yet on the market. I have successfully guided clients through these scenarios avoiding the hassle and additional cost involved in moving twice.

3. Learn the trends: Before we look at homes, we do our homework! Analyzing market data in your desired area, we study the average list price to sold price, number of new listings over the past year, number of offers received, and more. I call the listing agents on recently sold property and further dig....did most offers waive all contingencies, did they set an offer date or take a pre-emptive offer? This puts us in the best position to write a winning offer.

4. Have a proactive agent: Need an agent...I know a great one! An excellent real estate agent is every buyer’s secret weapon. They’re not only great negotiators and have a solid understanding of the neighborhood you’re interested in, but they also have terrific connections and communicate with the agent on the other side, learning what the seller's goals and expectations area. Relationships matter, and listing agents want to work with a buyer's agent they know and can trust to close the sale.

Here is a peak into a few listings being prepped either by my team or trusted colleagues. Reach out to me if you want more information on any of these homes before they hit the market!

* Truly special property in Walnut Creek! Single story home on flat 1.25 acre lot. Set on a private, gated lane with attached garage, detached garage, vineyard, chicken coup and so much more! Plenty of room to add a pool and ADU. Country feel yet close to town.

* Split-level home in Danville. Features 3 bedrooms, 2 baths, approx. 1500 square feet on a smaller lot. Minimal yard, but HOA amenities include pool, tennis and basketball courts. Close to charming downtown and freeway.

* Small community of new construction homes in Concord on Walnut Creek border. Ranging from 1,700- 2,300 sq ft. High-end finishes in convenient location!

There are few rites of a season change more satisfying than a Spring Cleaning! Cleaning out a closet or garage may garner unused or unwanted items. Donating to a charity is a great way to get rid of things that you no longer want or need. And if you donate through a charity that picks up your stuff, you don’t even have to leave your home to make an impact. I've compiled list of a few charities that offer free pickup. Click on the link to check if they service your area.

Furniture Donation: Habitat For Humanity
Habitat for Humanity helps provide decent and affordable housing to those in need around the world. They fund their efforts partly through Habitat ReStores, which are thrift stores located throughout the U.S. and are ideal places to make a furniture donation.

Furniture, Houseware, Clothing and More: Hospice of the East Bay
Hospice of the East Bay provides compassionate end-of-life care to terminally ill patients, while offering emotional, spiritual, and grief support for the entire family. They have several thrift shop locations throughout the East Bay.

Clothing, Toys and Household Items: Pickup Please
Pickup Please is a program that helps support Vietnam Veterans of America (VVA), They offer a good solution for your furniture or clothing donation, and they pick up a wide variety of other items as well.

How to buy a home in this market

Spring Cleaning? Donate, don't dump!

May I ask you for a favor?