First off, what a year in real estate we had in the San Francisco Bay Area in 2014! A few of the highlights were; the continued decline in homes to purchase; the growing of off-market home sales; mortgage interest rates remained at record lows in spite of the Feds ending their purchase of mortgage backed securities; the continued appreciation of home values; the continued lack of new home construction which impacted the lower number of homes to sell. And, given all of these factors the value of the total of homes sold still exceeded 2013 totals! Job growth is the key indicator for any healthy real estate market. Continue reading
JOIN THE BATTLE WITH JIM WALBERG: This year is Jim’s 14th anniversary! In 2001 he was diagnosed with Prostate cancer, and in 2004 he began another life and death battle, with UCSF Medical Center as his “home” for almost five months. Their medical professionals saved his life which has allowed him to live a life with manageable limitations. He is grateful for every day he has as a “cancer thriver”.
What Jim can still do is ride a spin bike. So, on February 21st in San Francisco at the Equinox Health Club, he and his Team will participate in the nationwide event that last year raised over $21 million for cancer research – 100% of the funds are donated for use on over 100 clinical trials and research studies. Continue reading
A carbon monoxide detector is required for each home in California as of 2012. The only way this law is able to be enforced is when a home is sold. A detector must be present on each floor of the home by California law. It is ridiculous that every state in America doesn’t require a carbon monoxide detector in homes. My guess is you will agree with me after reading this story from our friend who lives in Virginia. Here is a shortened version of “Sally’s” story – not her real name. Continue reading
Those you who know me, know that I am a raving fan of anything each of us can do to protect and improve our environment. One of the tools available to all of us are solar panels for our roofs that subsidize our electrical energy needs and lowers our utility bills. However, the decision you make to either enter into a solar lease agreement or to actually purchase them can have significant future consequences when you sell your home. Continue reading
No one ever seeks out an acknowledgment for their work in community service. I certainly did not. And, what a humbling honor to have Who’s Who In Luxury Real Estate select me to be their 2014 Extraordinary Philanthropist at their 19th Annual Fall conference in Boston several weeks ago where members from around the globe gathered to share best practices and expand their personal connections with the best of the best in luxury real estate.
A phrase we use at The Bay Area Team is “Local Knowledge / Global Reach”. It is a simple and true statement we share with our clients every week. We know the world of real estate in the San Francisco Bay Area – Local. And, we know the world of real estate in Europe, Latin America, and more – Global Reach.
Where there is a vibrant job market there is a robust real estate market. The Bay Area is in the midst of an employment boom, and it is not based on smoke and mirrors as the dot.com era was. These are real companies with sales and profits, and lots of upside to all of them – Twitter, Google, LinkedIn, Apple, Genetec, Price Waterhouse and many many more.
The tech industry is the driver, but with this employment boom some of the largest Bay Area employers are city governments, health care, universities, etc. In fact, of the largest 25 employers in the Bay Area, 20 of them are infrastructure and service type entities. They must meet the demand for services of the population growth. And, the challenge of the 4% population growth in the last four years is that new home developers have not kept up with the housing demand. They have added less than 2% of new homes built during this same period, with the population growth out stripping new home sales by two to one. Continue reading
If you have ever wanted to sail on San Francisco Bay, the “beer can races” are the venues where you can get a ride. I think this type of Bay Area “regatta” is some of the most fun one can ever have on the Bay. The weather is typically some of the best sailing of the year, and you are not racing for anything but a beer and a BBQ afterwards at one of the Bay Area’s yacht clubs. Continue reading
Summer just blew by us and all that is left is August. I promise there is still a lot of fun events awaiting all of us before Labor Day. Here are “Jim’s Picks” that will fill your calendar before Fall arrives. Let me know which ones you attend and if there are any others you would add to my list.
Blackhawk Plaza’s Friday Night Concert Series – August Lineup: It starts at 7pm and it is FREE. However, if you want a seat get their early. My favorite four bands are scheduled for August: August 8 – ZOO STATION – U2 tribute band: August 15 – PRIDE & JOY – Timeless pop and soul: August 22 – EVOLUTION – Journey tribute band: August 29 – TAINTED LOVE – Best of the 80’s Continue reading
We are through the first six months of Bay Area home sales and are able to look back on what has actually happened compared to what was predicted. We have had an 18 month run of a “hyper seller’s market” that began on January 1, 2013 and has now changed as of June 30, 2014. There is much to review, so here is a summary of a variety of topics from the first six months and a projection of what is to come in the next few years regarding Bay Area real estate. Continue reading