Housing Recovery Trend Disrupted by Wildfire in San Francisco Bay Area

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).


V shaped recovery - Lynne MacFarlane Blog

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.

Recovery of Roseville

Recovery of Roseville, Sacramento, Arden, Arcada, California from Feb 1, 2020 – Sept 1, 2020

 

Recovery of SF, Oakland, Hayward

Recovery of San Francisco, Oakland, Hayward California from Feb 1, 2020 – Sept 1, 2020

Drive on Golden Gate Bridge with heavy smoke

These are photos taken as my husband and our Chihuahua, Angel, crossed the Golden Gate Bridge in San Francisco, Sept 9th, 2020 –  11AM Smoke and fog

 

Recovery of Recovery of SJ, Sunnyvale, Santa Clara

Recovery of Recovery of SJ, Sunnyvale, Santa Clara California from Feb 1, 2020 – Sept 1, 2020

 

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.

https://www.sfchronicle.com/projects/california-fire-map/

https://www.fire.ca.gov/

 

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

phone 831.346.2743 

 

Lynne MacFarlane, Realtor - Together, we got this!

 


Posted on September 18, 2020 at 11:04 pm
Lynne (Watanabe) MacFarlane | Posted in Economy, Housing Market, Real Estate, San Jose, Santa Clara, SANTA CLARA COUNTY, Sellers Market, Shelter in place, Sunnyvale | Tagged , , , , , , , , , ,

Multi-Generational Housing On The Rise And Co-Living Arrangements In The SF Bay Area

San Jose - Sunnyvale - Santa Clara Shared Households

In recent years co-living has gained popularity not only in younger 20’s demographics, but attracting popularity for 50+ Boomer generation. Typically, seniors who opt for the co-living lifestyle as homeowners enjoy additional income from roommates and companionship!

What’s the difference between Co-Living versus Co-Housing?

In co-living people without family ties choose to cohabitate in a single dwelling. Typically, each resident has a private bedroom but other rooms (such as kitchen, laundry room, family room) are considered shared common spaces. In a co-housing community, each individual or family has an independent living unit (single family home, condo or apt) and they might share common facilities such as pools, a library, conference or fitness space.

Silver Tsunami

In the SF Bay Area we know that the lack of affordable housing is difficult as it can hit the senior population hard. As the ‘Silver Tsunami’ and senior households continues to expand over the next two decades, households in their 80’s will be the fastest-growing age group according to the Joint Center for Housing Studies of Harvard University. Many of those households already face cost burdens.

Santa Cruz, Watsonville Shared Housing

Santa Cruz – Watsonville Share of Households age 65+ www.jchs.harvard.edu

As the cost of senior communities continue to rise, along with visitation restrictions which COVID19 has placed on family members not being allowed into these senior communities, the desire for multi-generational housing continues to escalate. These are hard questions all families must decided what is important to them. Families are looking for more options as our lifestyle has shifted during these stressful health crisis times our community and family interdependence has become of greater necessity.

What are Co-Living Advantages?

  1. Sharing household responsibilities can lessen the load and housemates can have complimentary benefits such as one roommate’s ability to drive to the store and another can prep food and cook. This might allow individuals to live independent and active lives.
  2. Fewer seniors own their own homes these days, more are likely to have a mortgage or even a second mortgage. Co-living can help homeowners afford to stay in their home but creating passive income with rent. Sharing space means dividing up utility costs and home maintenance expenses too.
  3. Loneliness is one aspect of aging-in-place that co-living can help remedy. A sense of belonging and community can be nurtured with scheduled co-living events such as “Italian Night!” and plan cooking a dinner while playing Italian opera and watch a favorite Italian movie!

Preventing Co-Living Conflicts

Create a written agreement outlining who pays for what and when. Housemates with declining cognitive abilities and/or mobility issues can make living together difficult so a mutually agreed upon rental contract will help avoid co-living conflicts.

Make sure to interview to find the right fit housemate. Look for someone who is financially stable, and shares your interest, values and lifestyle. Always discuss privacy expectations and do consider looking outside an age range. When meeting with a prospective roommate for the first time, always meet in a neutral public location for safety reasons. Get references from previous roommates and consider a background check and credit check; protect oneself.

Consider a trial period and see if all personalities get along! Will pets or habits become irritating after two weeks? Will you need to consider ‘overnight guests’ and does each roommate need to seek permission and could this be considered an invasion of privacy for some? Some people need more privacy than others and having a written agreement can help communication and expectation.

It can be a wonderful experience co-living with others. Co-living can be multi-generational or the same age, but whatever one decides to do I hope you’ll enjoy the company and appreciate your differences!

** Looking for a Multi-Family Home? Click here for a Search for Single Family Homes with 5+ bedrooms, CA

If you’re interested in other cities, let me know, I can set-up your customized search to assist your needs.

Lynne MacFarlane Homes

Lynne Watanabe MacFarlane, MCDM, SRES | Realtor

PFAC Silicon Valley affiliate

Intero | A Berkshire Hathaway Affiliate

phone 831.346.2743

DRE# 02066698

 

 


Posted on July 26, 2020 at 2:59 pm
Lynne (Watanabe) MacFarlane | Posted in Economy, Housing Market, investors, MONTEREY COUNTY, multigenerational, SANTA CLARA COUNTY, Santa Cruz County, seniors, SRES, Sunnyvale, trends | Tagged , , , , , , , , , , , , ,

Highlighting The Essential Business Of Caregiving (Video Interview with Home Instead, Leslie Kefer)

As a Senior Real Estate Specialist (SRES), part of my expertise is to introduce features of a home for “Aging in Place” to prospective clients. I often introduce local businesses to clients which can extend living at home longer. As we all shelter in place, we’re learning that the senior population requires more care and assistance during this pandemic. It’s necessary to learn what resources are available to fit you and your family’s needs during this time of crisis. In this video, I interview Leslie Kefer, Director of Home Instead, covering the San Francisco Mid-Peninsula (Belmont, San Carlos, Redwood City, Palo Alto and Mountain View); she explains the process of hiring a professional caregiver and what necessary precautions it takes to continue business during shelter in place.

If you have any questions about caregiving needs, please reach out to either Leslie or me.

Leslie Kefer, Home Instead Senior Care (650) 691-9671

Thanks!

Lynne Watanabe MacFarlane, MCDM, SRES | Realtor
PFAC Silicon Valley Affiliate
Intero | A Berkshire Hathaway Affiliate
phone 831.346.2743 mobile
lmacfarlane @ Intero.com DRE# 02066698

 

Lynne MacFarlane Homes


Posted on May 19, 2020 at 4:21 am
Lynne (Watanabe) MacFarlane | Posted in Community Stories, SANTA CLARA COUNTY, seniors, Shelter in place, SRES, Sunnyvale | Tagged , , , , , , , , ,

Small Homes, Big Impact: ADU Resource Fair [Video]

 

I’ll be the host realtor at the ADU Resource Fair presented by The Housing Trust SiliconValley and AARP California, Aug 17 from 1:30 -4PM. You’ll learn how to obtain a building permit, topics about constructing an ADU and various options, lending inquries and more! Join us for an educational day.
#ADU #HousingTrustSilicon#SmallHomesBigImpact

 


Posted on August 17, 2019 at 5:56 am
Lynne (Watanabe) MacFarlane | Posted in Accessory Dwelling Units, Events, Sunnyvale | Tagged , , , , , , , , , , ,