Today in this video we share the areas of the wildfires in the Greater SF Bay Area. We also discuss the importance of creating a Wildfire Safety Plan for Older Adults who are living alone. Also, please note that if you and your family have evacuated Intero has a special discount with Country Inn and Suites – Address: 1350 N 4th San Jose Phone: (408) 467-1786
If you or a loved one are in need of any assistance, please don’t hesitate to call.
(831) 346-2743 text anytime
LMACFARLANE @ INTERO .COM
Thank you, take care & be safe.
Packing an emergency kit: Assemble an emergency suitcase your family elder can quickly grab in the event of a fire. When a wildfire requires evacuation, every second counts.
Establishing good practices: Developing precautionary habits can keep an older adult safer when it comes to a home fire or a wildfire. Put glasses and hearing aids on the bedside table. Always have cell phones charged. If an older adult uses a wheelchair, walker, or cane, encourage them to keep it nearby.
Purchasing an emergency radio: In the event of a power outage, an emergency radio allows older adults to stay connected. Whether it is a crank radio or a battery-operated one, there are a variety of options to choose from.
Planning evacuation routes: It’s also important to plan escape routes from every room in the house. For rooms upstairs or homes on a higher elevation, you may want to order fire escape ladders that attach to windows. If your loved one may have trouble climbing down a ladder, they should stay close to the ground floor.
Creating a neighborhood escape plan: Just like you need two escape routes from the senior’s home, you also need two separate ways out of their neighborhood. If one is blocked by fire, they won’t lose time trying to figure out what to do. When the order comes to evacuate, it’s also important to know where a safe place to retreat is.
California Fire Resources
If you or your friends are affected by the California wildfires, below are links to some helpful resources:
Fire Resources for Realtors®
General Fire Resources
Here’s the latest from MLSListings Silicon Valley and Coastal Regions
– Single-Family Homes Market Overview
The SF Bay Area real estate market continued to show its strength during July, even in the midst of the COVID19 pandemic.
Median prices again rose across all five MLSListings counties compared to July 2019; the lowest gain was 7% in Santa Clara County, and the highest increase in median price was 19% in San Benito County.
Closed sales remained robust across the board, both month-over-month and year-over year.
Further displaying this resilience, median days on market dropped in every county except for San Benito and new listings coming on the market grew versus last year in all counties except for Santa Cruz.
Inventory stayed problematic in all counties, with 4 out of five counties showing year-over-year decreases.
Santa Clara’s inventory is 1/3 less than this time last year and Santa Cruz inventory is down by 35%.
While San Mateo showed a modest 12% gain in inventory, it is still at historically low levels.
Even with the strong demand, premiums paid (amount paid over asking) is close to 100% in all counties and steady with both last month and last year in all counties except for San Mateo, which saw a 4% drop in average premium paid, from 105% of list last year to 101% of list this year.
Here’s my latest vlog post – I hope you and your family are doing well, staying healthy.
One of the first trends that became evident when quarantines began was the large number of young professionals who had gone home to wait out the virus with their parents. Having left the cities where they work and return to their hometowns, many of these young people may not go back. If the work-from-home situation continues – or if their jobs are eliminated – they might find themselves moving back home for good. This may be one of the factors to my discussion here on this post.
As the quarantine lifts, what are the potential market shifts and migration patterns in the SF Bay Area will we see?
Let me know if you or someone you know is interested in making a change (moving to a bigger home with more office space, multi-generational living, layout changes, bigger garden or fresher outside living at the oceanside.) I’m always here to help you make informed, knowledge-based decisions in the shifting markets!
There is a record nine year high in the number of homes on the market in S.F. as it continues to represent 60% more inventory than at the same time last year and 110% more inventory than in 2015 (according to http://socketsite.com/archives/2020/06/most-homes-on-the-market-in-san-francisco-in-nine-years.html)
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
The San Francisco Bay Area real estate market had begun to rebound in the first two months of the year 2020, with strong buyer demand, often with multiple offers, after a flattening of prices in 2019. But the shelter-in-place (SIP) and stock market tumble caused by uncertainty of the pandemic slowed listings and sales.
Just last week real estate agents and other professionals who are deemed as ‘essential workers’ are allowed to work with the CDC guidelines. With these new strict guidelines real estate agents can not show open houses, give tours and must not show homes with sellers who are still residents of the property. Empty residential properties can be shown with a single agent and with only two prospective buyers. Virtual tours using video (real-time or recorded) is highly encouraged (more on Virtual Agents here).
As one can suspect, this has caused much disruption in the buying and selling of homes but it has not prevented sales by any means! Here’s a snapshot of the most important metrics to keep you informed on the real estate landscape, it includes sold homes, new listings, Transactions Fell Through (TFT) and withdrawn homes. These graphs are gathered and summarized for all five MLSListings’ Counties (San Mateo, Santa Clara, Monterey, San Benito and Santa Cruz Counties) by Aculist/ MLSListings.
Interesting to note is that despite the fact that there is a -25% difference between last year and this year’s new properties on the market, there is -14% difference of sold. This could be because it usually lags 30 days (entered escrow around that time). But not surprising we see an increase of TFT (40%), cancelled (34%) and withdrawn (87%) from last year.
Here we see a big difference between the new 2019 listings in blue vs. the new 2020 listings in orange after SIP.
Here we find a fairly regular pattern between the sold listings in 2019 vs 2020 (by the week). It will be very interesting to note what will happen in the next two weeks.
Until then we wish you good health and take the necessary precautions to keep you and your family well!
Questions? Text me if you have any plans on selling, buying or investing in 2020. Feel free to ask for a complimentary market analysis and we can discuss your needs!
(831) 346-2743 text/voice anytime
If you want to know what’s going on in the market, sign up here!
Concerns about the impact COVID-19 will have on the global and local economy are real. They’re scary too as the health and wellness of our friends, families, and loved ones are high on everyone’s emotional radar.
While we don’t know the exact impact the virus will have on the housing market, we do know that housing isn’t the driver as it was in 2008.
A Recession Does Not Equal A Housing Crisis:
- The COVID-19 pandemic is causing an economic slowdown.
- The good news is, home values actually increased in 3 of the last 5 U.S. recessions and decreased by less than 2% in the 4th.
- All things considered, an economic slowdown does not equal a housing crisis, and this will not be a repeat of 2008.
As our country begins to collectively roll out shelter in place, I hope we can come together, take the time to share gratitude; let’s remember that this will pass. As a country we’ve experienced multiple divisive events such as Civil War, WWII, and more recent traumatic events as 9/11. The concerns about an impending recession are real, but housing isn’t the driver. During the Dot.com bubble starting in late 90’s, a period of massive growth of Internet & telcos, in 2002 (the dot.bomb) I personally would have lost my entire wealth because I was young (& mostly naive) never imagined stocks could crash! The only thing that helped preserve it was a little Los Altos house we divested. I sure am grateful for owning real estate – I am not a financial planner by any means, but I am conservative and because I’ve seen these recessions I advise my buyers to diversify their portfolios; try to have 6 months to a year’s worth of savings, have savings that are a mix of stocks, bonds, mutual funds but work towards owning property. the SF Bay Area our homes are not only places to live, but a wonderful wealth generating asset over time. With our current ongoing global uncertainty, including a U.S. stock market correction, no one could have seen coming. We first should do what’s best for our country, and for our families and that is to take care of one another.
Let’s fight this COVID-19 epidemic together by staying indoors & practicing social distancing, and checking up on loved ones and neighbors.
Take care of your needs now & let me know if I can help in anyway!
We’ve got this!
Lynne MacFarlane, MCDM, Realtor, PFAC affiliate
(831) 346-2743 text/voice anytime
San Mateo County – Q4 2019
• In San Mateo County, median sales prices for single family homes rose to an all-time high of $1.544 million.
• Inventories have rebounded slightly from 2017 but are still very low.
• Sales are dismal; the weakest they’ve been since 2008.
• All metrics still point to a very tight market – there are very few active listings, median days-on-market is just 14 and final sales price is consistently well above listing price.
• “Even with prices hovering around $1.5 million, there’s simply nothing to buy.” – Elliot Eisenberg, PhD
• The common interest market in San Mateo is not quite as tight as the single-family market and seems to have loosened up a bit from last year, as seen in median sales price declining from $920k to $901k, and days on market rose slightly. However, inventories remain tight.
For private tours & buyer consultation meeting, contact Lynne MacFarlane, Realtor
(831) 346-2743 text/voice
2019 concluded with median sale prices up year-over-year in every MLSListings county except for Santa Cruz. The number of homes sold in December 2019 saw double-digit increases in all counties versus last December, while inventory was down compared to December 2018 (and month-to-month) across the board.New listings also fell in all five counties in comparison to both last month and last December. Meanwhile, the actual price paid versus list price hovered around 100% in every county, from a high of 102% in San Mateo to 97% in Monterey.
** If you’re interested in receiving a property analysis of your home don’t hesitate to call or email me!
LYNNE MACFARLANE, MCDM, REALTOR
INTERO | A BERKSHIRE HATHAWAY AFFILIATE
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Extremely low ⬇️inventory in the #santaclaracounty and #SanMateoCounty With this severe shortage of homes, home sales are surpassing inventory – it’s upending the sales calendar for the whole housing market (see the slides) ➡️. Spring has historically been the busiest buying season, but as competition for homes heats up across the counties, January is the new April! #MontereyCo has its seasonal dip in inventory in the market, and #santacruzcounty has less inventory than Monterey but not as severe as the Bay Area. – If you’re considering to sell in 2020 in #SantaClara #Campbell #LosGatos #Sunnyvale #MountainView #SanJose, NOW is the best time to put it on the market bringing TOP dollar. Low inventory means less competition if you want to sell. If you know someone who’s considering to move, Im never too busy to help explain what’s going on in the market and to provide advise and specific reports to make strategic decisions. – Never too busy for referrals and to help you through the process. Thanks for your trust in me as your realtor advisor! #SFbayArea #SiliconValleyRealEstate #SpringBuyersAreHere #Monterey #SantaCruz #Capitola #Aptos #Watsonville
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