Living Estates Realty

CALIFORNIA Economic Outlook

Thu, 03 Feb 2022 17:19:27 GMT

CA ECONOMIC AND HOUSING FORECAST

REAL ESTATE 2021 SYNOPSIS & OUTLOOK FOR 2022

Many Californians are utilizing / realizing their CA home equity into Florida Property for Favorable taxes warmth and freedom from big government. If you are exploring the sale or ownership of property in CA or FL, please reach out and let's exchange more about what opportunities can benefit your overall strategy the best. Thank you for your consideration, Andrew

August Home Sales for San Mateo County

Thu, 20 Aug 2020 04:42:27 GMT

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San Mateo County is experiencing the shifted market due to COVID-19. Whereas August numbers may trail off in normal years, the shelter in place order delayed and shifted our spring home buying season well into the summer. Inventory still lags demand and most cities experienced shorter Days on Market than August 2019. Supply has largely driven home sales prices with single family homes in the hottest markets experiencing quite a jump in value as people seek more space as they spend considerably more time at home. To learn more about values in your neighborhood and to receive a complimentary market analysis and home valuation email Andrew@LivingEstatesRealty.com .

Mortgage Applications Jump Compared with One Month Ago

Wed, 20 May 2020 18:39:56 GMT

Purchase Money Loans Down Only 1.5% From Last Year.

Compare this to last month where home purchase loans were down 35% annually. The Mortgage Banker's Association reports that home loan applications were up 6% compared to this point last month, pointing to pent up buyer demand as our economy reopens.

“Applications for home purchases continue to recover from April’s sizable drop and have now increased for five consecutive weeks,” said Joel Kan, an MBA economist. “Government purchase applications, which include FHA, VA, and USDA loans, are now 5 percent higher than a year ago, which is an encouraging turnaround after the weakness seen over the past two months.”

Home refinance applications however dipped due to lenders retreating from cash out refinance loans as consumers seek cash amid the COVID-19 outbreak. Home refinance volume is still expected to be up this year due to record low interest rates. Below is the full press release from the Mortgage Banker's Association. https://www.mba.org/2020-press-releases/may/mortgage-applications-decrease-in-latest-mba-weekly-survey

If you have been considering a home purchase or refinance, reach out to me today and I will be glad to share more information on the market as well as tips to navigate your home purchase or refinance successfully.

April 2020 Home Sales San Mateo County

183:812474566 (Andrew Lomano) — Thu, 14 May 2020 20:00:07 GMT

Market Snapshot April 2020

The SIP (Shelter in Place) order took the inventory of available homes down and the volume of homes sold, yet certain cities in San Mateo County showed strong closed sale prices. Others at the high end or further out did not fare as well in sold price. The "Days on Market" clock will start again on May 16th. This will let viewers know how long a home has been on the market. Demand is there because there are not mass layoffs and mortgage rates are low. Supply is still limited by the SIP order. As we open up the economy, May, June and July will tell whether we have pent up buyer demand along with willing sellers who may have utilized the time to prepare for a sale! Whether you are planing to sell, purchase or to lease a home, reach out today and let's exchange more about safety and success in a strategy to achieve your real estate goals.

San Mateo County Home Sales Show Strong March Trend and Incoming April Numbers

Tue, 21 Apr 2020 19:03:57 GMT

March Numbers Show Strong Spring Season, April Values Forthcoming.

Click the video to review the complete market minute for San Mateo County. It stats off with single family homes and transitions to the condo and town home market. The numbers indicate that we were headed for a strong Spring market before the shelter in place order. We saw surprisingly strong closed home sales values across the county, as well as expected lower volumes of homes coming to market. Demand remains strong with low interest rates and an expected easing back into a new normal of opening the economy back up. While our hottest market would be the April and May months, most expect that the shift this year will mean our housing market will see the traditional Spring numbers in early to mid Summer. For more detailed values in your city or neighborhood reach out to Living Estates Realty today!

These 10 daily charts provide real time housing market information amid the COVID-19 outbreak.

Wed, 08 Apr 2020 18:46:23 GMT

Daily Statistics delivered to your inbox daily from Living Estates Realty.

The information changes daily. TFT stands for "Transaction Fell Through". It is expected that an event such as the COVID-19 coronavirus pandemic would provide an immediate pause out of caution. The market is fluid though and the supply of homes has fallen with demand during the SIP (Shelter in Place) order. On outreach everyday, the response I am receiving is that people still have their intentions to sell their home or to own a home and that this pause provides the time to prepare for a sale, to save up for a down payment and to watch how the pandemic will provide opportunity for buyers and sellers in the near and intermediate term.

For those not interested in speculating our market, Living Estates Realty has enacted COVID-19 safety procedures as well as launch strategy for home sellers not interested in seeing what the crystal ball has to offer. Whether you are a home owner, home seller or a home buyer, reach out to Living Estates Realty today for all the latest information on achieving your real estate goals safely and effectively amid the COVID-19 coronavirus outbreak.

Pressure Mounts For Property Tax Relief CA Home Owners

Fri, 03 Apr 2020 20:17:25 GMT

PROPERTY TAXES DUE - CALLS FOR PROPERTY TAX RELIEF, MUNICIPALITIES USING THESE FUNDS TO FIGHT COVID-19. THANKFUL FOR PROPOSITION 13 AND HOWARD JARVIS.

Counties are leaning heavy on those funds and right now, people are paying their rents and obligations now, so municipalities that revenue at this time is critical. The stimulus check is a drop in the bucket compared with the tax bill. I am thankful for Proposition 13 to hold the tax base.

Will Americans Get Property Tax Breaks Because of the Covid-19 Crisis?

Q. Are any U.S. municipalities considering property tax relief in light of the current economic crisis?

A. More than 10 million U.S. workers have applied for unemployment since the outbreak began, according to the Department of Labor.

As a result, some municipalities have delayed property tax payments because of the ongoing economic fallout caused by the coronavirus.

Several counties in Washington state have extended the deadline to pay property tax, including King County, where Seattle is located. “Due to the financial hardships caused by the Covid-19 pandemic, King County...has extended the first-half 2020 property tax deadline to June 1,” according to a statement released by Dow Constantine, King County Executive. Taxes were originally due on April 30.

Florida has also extended its deadline for property tax payments. Levies are now due April 15 instead of March 31 in all counties, the state’s Department of Revenue announced last week.

Some counties are waiving fees and other penalties for late payments.

Take San Luis Obispo County in California.Taxes are due April 10, but homeowners “can request a waiver from property tax late charges incurred due to Covid-19 hardships,” Jim Hamilton, the Auditor-Controller-Treasurer-Tax Collector for San Luis Obispo County, said in a statement.

Municipalities in California, like Fresno, are also considering waivers.

Pressure mounts for property tax relief

New Bay Area Public Health Recommendation to Cover the Face

Thu, 02 Apr 2020 23:04:45 GMT

San Francisco Bay Area Recommendation: Cover Your Face

Cloth face coverings, when combined with physical distancing and hand washing, may prevent transmission

of coronavirus to others when leaving the house for essential activities.

I took my walk with a buff covering my mask along the San Mateo Lagoon.

Learn More about the San Mateo Lagoon at: www.LagoonLiving.com

Learn more about COVID-19 and Home at: LivingEstatesRealty.com/covid-19

Second Life: Sterile Wrap Fashioned into Masks

An anesthesiology professor has developed masks from surgical tray wrap that cannot be penetrated by water or bacteria and block 99.9% of particles. Prototypes are underway.

COVID-19 & HOME

JOINT PRESS RELEASE Shelter in Place Through May 3 To Relieve Hospital Load, Real estate and funeral homes deemed essential services

Tue, 31 Mar 2020 21:56:13 GMT

PRESERVE HOSPITAL CAPACITY / REAL ESTATE DEEMED ESSENTIAL

The previous three-week order was set to expire on April 7. While the prior order has been effective in reducing the rate of transmission of the novel coronavirus (COVID-19), it is not enough. There has been a significant increase in the number of positive cases, hospitalization and deaths from COVID-19, which is beginning to strain healthcare resources. The health officers have determined that more and stricter social distancing is needed to slow the rate of spread, prevent deaths, and stop the health care system from becoming overwhelmed.

Use of playgrounds, dog parks, public picnic areas, and similar recreational areas is prohibited. These areas must be closed to public use.
Use of shared public recreational facilities such as golf courses, tennis and basketball courts, pools, and rock walls is prohibited. These facilities must be closed for recreational use.
Sports requiring people to share a ball or other equipment must be limited to people in the same household
Requires essential businesses to develop a social distancing protocol before April 3
Most construction—residential and commercial—is prohibited
Funerals limited to no more than 10 people attending
Essential businesses expanded to include service providers that enable residential transactions (notaries, title companies, Realtors , etc.); funeral homes and cemeteries; moving companies, rental car companies and rideshare services that specifically enable essential activities
Essential businesses that continue to operate facilities must scale down operations to their essential component only.

Whether you are you planning for the purchase or sale, or want to know more about coming to market now, learn more about how Living Estates Realty is helping its principals to instill safe practices to sell, buy and lease real property amid the outbreak. From drive up signing, to zoom, virtual tours, vacant home showing procedures and more. Reach out today and lets achieve your goals for a new era.

San Mateo County Parks Closes All Parks to Slow the Spread of COVID-19

Sat, 28 Mar 2020 03:24:48 GMT

San Mateo County Parks closed at 6 p.m. Friday, March 27 to slow spread.

San Mateo County Parks will close all parks at 6 p.m. today, Friday, March 27, to slow the spread of the coronavirus that causes COVID-19. County parks will remain closed until further notice.

NAR Stimulus Information For Realtors and their Customers

Fri, 27 Mar 2020 20:10:23 GMT

Provisions for REALTORS® and Their Consumers

Congress has voted on a historic COVID-19 relief that includes many benefits for Realtors® that were secured by NAR - National Association of Realtors®. Here is an outline of the major provisions.

If You Haven't Practiced Prevention, These 7 CoronaVirus Bits May Change Your Mind

websitebuilder@1and1.de — Thu, 26 Mar 2020 20:28:49 GMT

Coronavirus Disease 2019 (COVID-19)

Fro m CDC Centers for Disease Control & Prevention (March 3, 2020)

Simplified Information Provided by Maya S. (parentheses or * indicates addition)

Bay Area Housing Statistics February 2020

Thu, 26 Mar 2020 20:28:47 GMT

Bay Area Housing Statistics February 2020 vs. February 2019

A quick look at the 5 Bay Area counties shows closed sales are down, inventory is down leading to lower days on market and higher prices. That will change as these numbers are pre - COVID 19 pandemic numbers. If you are considering a sale, now is the time to consult with us and prepare your home for sale. Call us today!

Rest In Peace Gambler Man

183:812474566 (Andrew Lomano) — Thu, 26 Mar 2020 20:28:46 GMT

Farewell to a legend. I remember growing up listening to The Gambler and learning those versus, singing them over and over, and they are ingrained there forever and its message lends well in life and in real estate.

Assembly Bill No. 1482

websitebuilder@1and1.de — Sat, 01 Feb 2020 19:12:14 GMT

The California State Assembly passed AB 1482 and the bill has been signed into law by Governor Gavin Newsom. San Mateo County Association of Realtors and the Coalition for Housing Equality, with the support of the California Association of REALTORS® (C.A.R.), is providing information to REALTORS® and property owners about the implications of this new state law and how to comply.

C.A.R. Rent Cap and Just Cause Eviction Law (Rent Control, AB 1482)

Rent Cap

Rent increases are capped at 5 percent plus inflation, or up to a hard cap of 10 percent, whichever is

lower. All rent increases since March 15, 2019 will count toward the rent cap, and if above the permissible

rent cap, will have to be rolled back effective January 1, 2020.

Just Cause

Landlords may only evict for “just cause.” There is a list of 15 reasons. The just cause reasons are divided into two categories:

“At fault” termination of tenancy is generally based upon a tenant’s breach of the lease,
among other reasons, and does not require the payment of relocation assistance.
“At fault” reasons include non-payment of rent, nuisance, criminal activity, refusal to allow
entry, and breach of a material term of the lease.
“No fault” termination of tenancy is allowed when the tenant has not breached the lease
and will require the landlord to pay one month’s rent in relocation assistance.
“No fault” reasons include owner occupancy, withdrawal from the rental market, substantial
remodeling and compliance with government order to vacate the property,

Just cause eviction only applies to tenants who have been continuously and lawfully occupying the property for 12 months.

Exemptions

Exempts single family properties and condos if:

Notice of the exemption is provided to the tenants and;
The owner is not a REIT, a corporation, or an LLC where an owner is a corporation
Other exemptions include:
Housing that has been issued a certificate of occupancy within previous last 15 years
Owner occupied duplexes
Owner occupied single-family properties renting no more than two bedrooms including

Accessory Dwelling Units (“ADU”s). (This exemption applies only to just cause but not the rent cap).

Bureau of Labor Statistics: Consumer Price Index, San Francisco Area — August 2019

Consumer Price Index, San Francisco Area — December 2019

Area prices were down 0.5 percent over the past two months, up 2.5 percent from a year ago

Prices in the San Francisco area, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), decreased 0.5 percent for the two months ending in December 2019, the U.S. Bureau of Labor Statistics reported today. (See table A.) Assistant Commissioner for Regional Operations Richard Holden noted that the December decrease was influenced by lower prices for gasoline. (Data in this report are not seasonally adjusted. Accordingly, month-to-month changes may reflect seasonal influences.)

CA Legal Information: AB-1482 Tenant Protection Act of 2019: tenancy: rent caps.

An act to add and repeal Sections 1946.2, 1947.12, and 1947.13 of the Civil Code, relating to tenancy.

[ Approved by Governor October 08, 2019. Filed with Secretary of State October 08, 2019. ]

LEGISLATIVE COUNSEL'S DIGEST

AB 1482, Chiu. Tenant Protection Act of 2019: tenancy: rent caps.

Existing law specifies that a hiring of residential real property, for a term not specified by the parties, is deemed to be renewed at the end of the term implied by law unless one of the parties gives written notice to the other of that party’s intention to terminate. Existing law requires an owner of a residential dwelling to give notice at least 60 days prior to the proposed date of termination, or at least 30 days prior to the proposed date of termination if any tenant or resident has resided in the dwelling for less than one year, as specified. Existing law requires any notice given by an owner to be given in a prescribed manner, to contain certain information, and to be formatted, as specified.

CAR’s Rent Cap and Just Cause Addendum (Form RCJC)

3 Best Indicators That Now Is a Good Time to Sell or to Lease Their Home In the San Francisco Bay Area.

Sat, 01 Feb 2020 19:12:14 GMT

Contact us to receive neighborhood specific updates on communities of interest to you. Our custom reports deliver timely information with the frequency you desire. Reach out today for a customized market sapshot.

Keep Current with home sales in your neighborhood. Know first, with market updates sent directly to you.

Evoke the vibe of each space with delights that culminate in an experience of home.

Sat, 01 Feb 2020 19:12:14 GMT

You property is unique. Working with the elements that attracted you to it, we consider any repair or updates ahead of the sale. Sleuthing the solutions that present the right mix of possibility given, resources, cost, schedule and fit and finish of the work product. It folds into a schedule that drives the professional photo today & debut to market.

Kitchen Re-Envision

U shaped kitchens can mean tight cabinetry fits and fewer work triangle configuration options. Pushing out the breakfast bar a bit opened the floor space and provided a more open thoroughfare. Upgrading with a counter-depth refrigerator and configuring it from the middle to the wall provided for more continuous counter top and under counter cabinet space.

Create the Signature Elements

The waterfall edge is a rather new technique is to encase the exposed side of the cabinet and clad it with the same counter top material with a minimally chamfered, bull nose edge for a crisp visual line that draws the eyes to it.

Be Mindful of the Lines

The U shaped kitchen is designing in a box already. Keeping the lines to a minimum and with a lateral flow was important to achieving a minimalist aesthetic. Rectilinear shapes prevail and square pendant lights accentuate.

Finish and Material Selection

The brushed aluminum handle sets carry from the appliances to the cabinet door and drawer pulls to the stainless deep well sink and faucet. Flanked by the large, wavy, rectilinear subway tile, the brushed frame of the wall cabinets bring visual acuity to the smoked glass pop without making the space busy.

Have thoughts on re-envisioning your space?

Reach out to Living Estates Realty today and share more about what you are looking to accomplish and how we may be able to help achieve your vision of home! - Andrew