Last May, the Brookings Institution wrote about the post-Covid19 recovery as having several possible shapes of recovery (Z-shaped, V-shaped, U-shaped, W-shaped, L-shaped, and even the Nike Swoosh) but here are four major financial institutions predictions for recovery (below image).
In a Realtor.com study- we have seen a similar V-Shape recovery, but recently there’s been a deceleration as potential sellers found it harder to list and show their home as wildfires spread through the West coast.
Housing Market Recovery Index Highlights – Week Ending September 12
California has shown that social distancing and economic resilience continue to be key factors driving local differences in the housing recovery. Per Realtor.com’s research, the spread of COVID-19 is closely linked to the housing slowdown, with markets with higher cases per capita more likely to see a bigger impact on supply and the pace of sales. The speed and sustainability of the reopening, and each market’s ability to contain COVID-19, are dictating the speed of recovery across the regions. Finally, resilient economies may have an edge in the housing recovery, and areas with strong job markets before COVID-19, especially those with thriving tech sectors (such as in the SF Bay Area), are seeing buyers and sellers reconnect faster than the rest of the country.
Below are the V-shaped curved found in the northern California communities. Notice the downward trend in Aug – Sept due to the numerous wildfires.
The higher the index value, the higher the level of recovery. The lower the index value, the lower the level of recovery.
Thank you to the brave California Fire Department for coordinating a fantastic job containing many of the fires in California, we applaud their heroic service as many sacrificed their time, energy away from their families to protect people and properties throughout California.
How is your family and how are you handling the aftermath of the fires? I hope you and your family are doing well, but just know that it has effected everyone. It’s been a very rough few weeks here in northern California and the housing market certainly has been effected by the enormity and tragedies around us. Be safe & let me know if there’s anything we can do to assist.
|Lynne Watanabe MacFarlane, MCDM, SRES | Realtor
PFAC Silicon Valley affiliate
Intero | A Berkshire Hathaway Affiliate
Congratulations to my seller who lives out-of-country as we successfully prepared this 2BD/2BA single family home for the sale & scheduled 57 safe & private tours (and countless virtual video open house tours!) during a pandemic & nearby CZU fires!
Curious how I did it?
For my Sellers I combine Digital and Direct Marketing Campaigns Outbound campaign including the following:
-Cold Calling (around the property/to buyer agents)
– Search Ads
– Social Media Ads
– Social blogs and inbound marketing posts
Digital Marketing Stats for this property:
73,371 Google Views, 734 clicks 1,440 Facebook Views, 420 Clicks 978 Instagram Views, 154 Clicks 30,646 Waze Views, 117 Clicks Marketing Campaign Overview: 106,435 Total Views 1,425 Total Clicks 20 Total
Agents who are digitally savvy are thriving in today’s market; I have a background in digital media/marketing with a Masters Degree from Univ of Washington, Seattle (COMM LEADERSHIP/ MCDM program) – Congratulations to my seller, I’m very happy that she’s able to join her daughters and grandchildren in Colorado, and we welcome our buyers to beautiful Los Gatos mountains!
If you or someone you know is interested in learning how to sell in these challenging times, give me a call! I’m here to help you with anything you need. Here’s a little about me as your real estate advisor & how I communicate with buyers in these tough times: https://lnkd.in/g_MaSYV
Cheers and happy weekend, I’m happy to assist with anything! Lynne
Lynne Watanabe MacFarlane, MCDM, SRES | Realtor
PFAC Silicon Valley affiliate
Intero | A Berkshire Hathaway Affiliate
www.Intero.com | facebook | linkedin | blog | videos| luxury home collection | committed to our community
It’s been a hot real estate market in the SF Bay Area, multiple offers on many properties, nevertheless my buyers were tired of paying rent and believed it was time to start building their own wealth by investing in real estate. We searched in Los Gatos, Mountain View and all the good school districts as they have two twin boys. We were able to locate the properties in desired school districts and check out only the ones with specific schools.
Click on the image below for my powerful AI-powered, data-driven “Search in Alameda” for single family homes, townhomes and condos. It’s a very user friendly and will help to find more information about homes that are similar to those that you might be interested in.
If you’ve never heard of or considered living in Alameda, don’t feel bad, either have these folks, and they live in the City! (This movie scene was taken from Star Trek IV: The Voyage Home )
Interested in Alameda Market Trends? Click on below image to take you see the Active Listings, Median Sale Prices, and Recent Homes Sold in the area.
Residential real estate is considered an essential service, but we no longer host public open houses during health crises.
You may wonder how realtors show properties these days. Well, we do this mindfully with our clients’ health and safety in mind. Firstly, before entry, all visitors must sign a PEAD-V form and we schedule a private tour with agents. All buyers/visitors need to sign the PEAD-V every day they tour properties.
The rules outlined by the new posted pictogram which are posted in homes simply state everyone to:
a) wear a mask
b) stay six feet apart
c) wash your hands upon entry
d) discard all PPE after visit
e) Do not touch anything unnecessarily
The PEAD-V form includes an eight page “Best Practices Guidelines and Prevention Plan for Showings.”
It requires all listing agents to ensure:
1) That the “rules” are followed during showings (no touching surfaces, masks worn, ext.)
2) That handrails, light switches, clipboards, knobs, toilet handles, keyboards, and other commonly touched areas need to be wiped down with disinfectant before and after showings (soap/towel, Lysol wipes)
3) Soap or sanitizer needs to be available
4) Doors must be left open to outside to allow for fresh air
5) Doors throughout inside must be left open to decrease need for opening by visitors.
Learn more: https://www.car.org/legal/Recent-Lega…
If you have any questions about buying or selling under these conditions, don’t worry, give me a call and I’ll share with your our best practices to keep you and your family safe and healthy!
Lynne Watanabe MacFarlane, MCDM, SRES Realtor
PFAC Silicon Valley chapter, affiliate member
Lmacfarlane @ intero. com
831.346.2743 text/voice anytime
Looking at today’s Santa Clara County inventory we’re seeing some ‘normalization’ as we are approaching mid-June.
Looking locally at Santa Clara County, here’s a comparison of the last two years with this year’s Active and Pending listings. Blue indicates 2918 (which was a banner year, partially due to the low inventory), Orange indicated last year 2019 and today 2020 in Red.
Pendings in Santa Clara County SFR took a big dip, pandemic related but the good news is that in June we’re quickly rising and catching up to 2019 and 2018 numbers. (See below)
From MLS/Aculist I pulled the latest data (June 16th) taken from the 5 Bay Area counties (San Mateo, Santa Clara, Santa Cruz, Monterey and San Benito) for New Listings (yellow) & Sold Homes (blue) from March 16 – June 15th.
As indicated, once we could begin showing properties the listings increased. (See below graph)
Here is a market snapshot from May 2020 comparison to last year’s May 2019 for single family homes and condo and townhouses.
**If you are interested in receiving market data in your neighborhood, let me know, I’m here to assist you with explaining what’s going on in your community.
Lynne MacFarlane, MCDM, SRES
Your Link Between SF Bay to Monterey Bay
PFAC Silicon Valley affiliate
A recent survey by Lending Tree tapped into behaviors of over 1,000 prospective buyers. The results indicated 53% of all homebuyers are more likely to buy a home in the next year, even amid the current health crisis. The survey further revealed why, naming several reasons buyers are more likely to move this year (see graph below):
Let’s break down why these are a few of the key factors motivating buyers to actively engage in the home search process, and the corresponding wins for sellers as well.
1. Low Mortgage Rates
The biggest reason potential homebuyers indicated they’re eager to purchase this year is due to current mortgage rates, which are hovering near all-time lows. Today’s low rates are making it more affordable than ever to buy a home, which is a huge incentive for purchasers. In fact, 67% of respondents in the Lending Tree survey want to take advantage of low mortgage rates. This is no surprise when comparing historic mortgage rates by decade (see below):
Sam Khater, Chief Economist at Freddie Mac recently said:
“As the economy is slowly rebounding, all signs continue to point to a solid recovery in home sales activity heading into the summer as prospective buyers jump back into the market. Low mortgage rates are a key factor in this recovery.”
- Reduced Spending
Some people have also been able to save a little extra money over the past few months while sheltering in place. One of the upsides of staying home recently is that many have been able to work remotely and minimize extra spending on things like commuting expenses, social events, and more. For those who fall into this category, they may have a bit more saved up for down payments and closing costs, making purchasing a home more feasible today.
- Re-Evaluating Their Space
Spending time at home has also given buyers a chance to really evaluate their living space, whether renting or as a current homeowner. With time available to craft a wish list of what they really need in their next home, from more square footage to a more spacious neighborhood, they’re ready to make it happen.
What does this mean for buyers and sellers?
With these three factors in play, the demand for housing will keep growing this year, especially over the summer as more communities continue their phased approach to reopening. Buyers can take advantage of additional savings and low mortgage rates. And if you’re thinking of selling, know that your home may be in high demand as buyer interest grows and the number of homes for sale continues to dwindle. This may be your moment to list your house and make a move into a new space as well.
If you’re ready to buy or sell – or maybe both – let’s connect to put your plans in motion. With low mortgage rates leading the way, it’s a great time to take advantage of your position in today’s market.
Give me a call at 831.346.2743 text/cell
lmacfarlane @ intero . com
Let me know if there’s anything I can do for you!
2 Bedroom, 2 Bathroom Building: 1,100 SqFt Apprx Lot: 18,797 SqFt
List Price: $699,000.
Who knew you could get away from it all, while so close to town!
This rare opportunity for a charming 2BD, 2BA mountain getaway sits in desirable Redwood Estates adjacent to the community protected open green space. Stairs bring you down to this secluded cottage, not visible from the street. This beloved cozy mountain cottage has been completely remodeled from ground up, with a 1 BD 1 BA unit upstairs, and a separate entry to the 1 BD 1 BA downstairs (can easily be used as partial rental). Custom Alderwood cabinetry, 2 brand new decks & steps to separate entry, new dishwasher, new low profile microwave, new interior paint, new carpet in bedrooms, and beautiful views from every window. Central heat, inside laundry, plenty of storage.
Make this secret mountain cottage yours! Private community pool access only for Redwood Estate residents.
Easy hop on Hwy 17, 10-minute commute to downtown Los Gatos, top Los Gatos schools, 20 minutes to Santa Cruz. Schedule a tour today (below).
Visit the property website: https://bit.ly/21471LeeDr
Schedule a tour: https://bit.ly/CozyCabinLeeDrive
Sheltering in place doesn’t mean real estate transactions have stopped.
I’ll be hosting virtual open houses which allows prospective buyers to see properties from the comfort of their home, while remaining compliant with the SIP mandate.
Call me today if you’re interested in buying or selling a home.
Thank you and stay well!
Lynne MacFarlane, MCDM, SRES
PFAC affiliate, Realtor
(831) 346-2743 mobile/ Lmacfarlane@intero.com
Under NAR and CDC guidelines essential businesses such as work of realtors (buying/selling real estate) are able to help our clients under SIP- we’re preparing this 2BA/2BA single family home in desirable Redwood Estates, Los Gatos.
Hope you are well, let me know if you need any assistance with any real estate or have any questions on how we do business under the new restrictions and as always, I’m always here to help you move forward with life. Be well!
#realtor #sellinghomes #flattenthecurve #interorealestate