A Bold Move: Pacific Union Names Selma Hepp VP of Business Intelligence

Selma HeppMark McLaughlin, CEO of Pacific Union, announced today another bold move within the residential real estate industry. Pacific Union names Selma Hepp VP of Business Intelligence to the newly created position of ‘Vice President, Business Intelligence’.  Selma joins Pacific Union from her position as Chief Economist for Trulia.

Prior to Trulia, Selma Hepp was Senior Economist for the California Association of Realtors and Economist for the National Association of Realtors, both trade organizations dedicated to the advancement of professionalism in real estate. Continue reading

San Francisco Bay Area Real Estate: Jobs and Population Growth Fueling Demand

Tech Industry is the driver.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

Three Critical Hurdles: The Historic Low Bay Area Housing Inventory!

What has created this crazy Seller’s market?

What are the critical hurdles causing the low inventory of homes for sale?

Should I sell my home now, or wait for higher prices?

Stressed out home buyers.Never have I seen home Buyers in such a stressful market; a limited supply of homes to purchase; a Buyer pool that is more than three times the size of the homes on the market for sale; multiple purchase offers driving up prices; Buyers living in temporary housing as they continue to submit purchase offers with the hope of being the ‘winner’; and, much more! Buyers are in a state of fear that these market conditions are causing the price of homes to race beyond their grasp. And, they are fearful that at some point mortgage interest rates will begin to climb and they will have missed the opportunity to secure an interest rate of below 4%. Continue reading

3-Key Features of the Fiscal Cliff Bill’s Impact On San Francisco Bay Area Real Estate.

What is the impact of the Fiscal Cliff bill on real estate?

Why was Congress not able to pass a comprehensive tax bill?

How effective was the 112th Congress regarding passed legislation?

Fiscal Cliff taxes avoidedThis week there was good news and bad news regarding Congress passing the bill that prevented us from falling over the ‘fiscal cliff’.   Some of the good news were the extension of  key taxes relating to real estate,  and the DOW Jones being up almost 300 points.   There were some popping Champagne corks because of averting the draconian tax increases.   But David Cote, the Honeywell International Inc. CEO who put himself in the middle of the back and forth between lawmakers and the White House, isn’t joining the party.  Mr. Cote stated in an interview this week, “We shouldn’t be sitting here slapping ourselves on the back for a great job.  All it did was address the ‘fiscal cliff’ problem and set us up for a debt ceiling debacle.”   And, other key executives stated yesterday that Washington totally wasted an opportunity to address the nation’s long-term debt. Continue reading