EconomyMortgage RatesReal Estate October 17, 2022

Two Questions Every Homebuyer Should Ask Themselves Right Now

Rising interest rates have begun to slow an overheated housing market as monthly mortgage payments have risen dramatically since the beginning of the year. This is leaving some people who want to purchase a home priced out of the market and others wondering if now is the time to buy one. But this rise in borrowing cost shows no signs of letting up soon.

Economic uncertainty and the volatility of the financial markets are causing mortgage rates to rise. George Ratiu, Senior Economist and Manager of Economic Research at realtor.comsays this:

“While even two months ago rates above 7% may have seemed unthinkable, at the current pace, we can expect rates to surpass that level in the next three months.”

So, is now the right time to buy a home? Anyone thinking about buying a home today should ask themselves two questions:

1. Where Do I Think Home Prices Are Heading?

There are two places to turn to answer this question. First is the consensus of what experts are saying. If you look at what experts are projecting for home prices in 2023, they’re forecasting home price appreciation around 2%. While it’s true some are calling for depreciation, most are calling for appreciation in home values over the next year.

The second spot to turn to for information is the Home Price Expectation Survey from Pulsenomics – a survey of a national panel of over one hundred economists, real estate experts, and investment and market strategists. According to the latest release, the experts surveyed are also calling for home price appreciation for the next several years (see graph below):

Two Questions Every Homebuyer Should Ask Themselves Right Now | Simplifying The Market

2. Where Do I Think Interest Rates Are Heading?

Like mentioned above, Ratiu sees mortgage rates rising over the next several months. Another expert agrees. Mark Fleming, Chief Economist at First Americansays:

“While mortgage rates are expected to continue to drift higher over the coming months, much of the rapid increase in rates is likely behind us.” 

The instability in the world and higher inflation are driving this volatile market, resulting in higher borrowing rates for those looking to buy homes.

Bottom Line

If you’re thinking about buying a home, asking yourself about home prices and mortgage rates will help you make a powerful and confident decision. Experts see both prices and rates rising in the future. The alternative is to rent, but rents are also increasing. That may mean buying a home makes more sense than renting.

 

Lynne Watanabe MacFarlane, Realtor | CA DRE # 02066698

Senior Real Estate Specialist, Seller Representative Specialist, Master of Communication Digital Media/Marketing

Professional Fiduciary Assoc, of CA, Silicon Valley Chapter affiliate

Intero Logo - Lynne MacFarlane, Realtor

INTERO, A BERKSHIRE HATHAWAY AFFILIATE Los Altos office

Covering SF Bay Area & Coastal Communities of Monterey Bay

408-800-114

LMACFARLANE@INTERO.COM

Lynne MacFarlane Homes logo

Advance Real Estate EducationBuyersCapitolaComing Soon listingsHomeownersHouse Hunter Silicon ValleyHousing MarketMarket ReportReal EstateSellersVideo September 13, 2022

Demo Using Home Search RealScout – Helping Sellers Connect With Buyers in Silicon Valley & Beyond [video]

One of the great tools we use to communicate with our buyers and match them with our listings is the use of RealScout, an award-winning listing alert platform, it’s an industry-first computer-vision powered home search! This is a quick demo of Capitola single family homes. Let me know if you’re ready to find the home of your dreams. Call to schedule an appointment today.

The market is shifting. Don’t wait until you find the right home, let’s connect to discuss how we can prepare and get you ready!

Lynne MacFarlane Homes, Realtor in Bay Area

Lynne Watanabe MacFarlane, Realtor

SRES, SRS, MCDM | DRE # 02066698

INTERO, A BERKSHIRE HATHAWAY AFFILIATE

Los Altos office / covering Bay Area & coastal communities on Monterey Bay

831-346-2743 408-800-1141

LMACFARLANE@INTERO.COM

SANTA CLARA COUNTY February 9, 2022

Lynne MacFarlane – Top Listing Agent – Units, Volume and Producer Dec 2021

Top Listing Agents - 2021

Open HouseReal EstateSANTA CLARA COUNTYSaratogaSellers MarketShelter in place May 29, 2021

Open House – Hot Paseo Presada Saratoga Single Family Home (SAT & SUN 1-4PM)

Welcome Home!

Hot market! Hot house… Come this weekend to my Open House before this fantastic Saratoga home is gone! This property’s location is excellent, near all tech HQ, located near desirable El Quito Village & Westgate Mall for your convenience.
13214 Paseo Presada
Saratoga, CA 95070
4 Beds | 2 Baths | 2,468 sqft | 0.27 acres lot
Schools
Elem: Marshall Lane Elementary / Campbell Union Elementary
Middle: Rolling Hills Middle
High: Westmont High / Campbell Union High
Multiple oversized windows beckon in natural sunlight & California breezes to every room. Gourmet kitchen features granite counter tops & island, abundant cabinet storage, stainless steel appliances & expands into spacious family room w/vaulted ceiling &access to oversized private sanctuary back yard. Separate formal dining room & living rm with fireplace &built in cabinetry. Primary suite retreat with high ceilings, walk-in closet, dual vanities&opens to backyard through glass doors.There are 3 additional large & well lit bedrooms.Main living space w/hardwood flooring &brand new carpet in every bedroom. Large 2 car garage w/workshop area complimented with access to the kitchen & back yard.This sought after El Quito Village neighborhood is conveniently located near major commute routes and is reflective of all Silicon Valley has to offer.
May 29th Sat 1-4PM
May 30th Sun 1-4PM
I’ll be your host to tell you all about this great home and what we’ve done to prepare it for the market. Also, if you’re thinking of selling, I’ll tell you what buyers are looking for and how you can maximize your listing!
Market Report for Saratoga 95070 click here: http://bit.ly/SaratogaSFHin95070
Median Sale Price (past 30 days)
$3,575,000
One Month Change
16.5% ($3,067,500)
One Year Change
49.0% ($2,400,000)
Sale Price / Sq Ft$1,325.34
Lynne MacFarlane Homes
Lynne MacFarlane , MCDM, SRES | Realtor
PFAC Silicon Valley (Prof Fiduciary Assoc of California) affiliate
Intero | Berkshire Hathaway affiliate
(408) 800-1141
(831) 346-2743
L MACFARLANE @ INTERO.COM

 

SANTA CLARA COUNTY August 26, 2020

Weekly Update Look at Five SF Bay Area Counties

It’s the Weekly Update look at real estate activity in the five SF Bay Area counties (San Mateo, Santa Clara, Santa Cruz, San Benito and Monterey). Take a look at the contrast between 2019 vs. 2020 (March 1st – Aug 22nd) and how far we have bounced back from SIP looking at May, June and July differences between the years. In July 2019 we had a total of 2,757 Closed Sales, but July 2020 we had 3,134 Sales, that’s a 13% Year over Year difference.
#realestate #bayarearealestate #sfbayarea #housingmarket #bayarearealtor #Intero #MLSlisting #Aculist

BuyersHomeownersSRESVideo August 12, 2020

Our Life in 2020 [Original Video]

We’re all trying to figure out life during this health crisis. We all have different needs, our priorities have shifted and our lives have been permanently been effected. We’ve learned how much our lives are intertwined with services, businesses but most importantly, our friends and family. How has your life changed since March 2020?

My focus is helping others in transition so that they can focus on what’s important in their lives.

I’ve experienced multiple transitions in my life and I know that when one must make a move, it is not easy AND the last thing you want to worry about is the physical move (prepping a home, the sale of a home, where will I live, etc…)

If you’re considering a move and change in life, feel free to reach out, we can talk over the phone or on a Zoom or Facetime chat. I can assist with not only the sale of your home (and educate you about the real estate market and home’s worth) but help plan what’s the next steps and discuss your options. I’m a Professional Fiduciary Association California ( #PFAC) affiliate member and a senior resource specialist in real estate #SRES ready to help you or family members. 

Lynne MacFarlane Homes

Lynne Watanabe MacFarlane, MCDM, SRES | Realtor

PFAC Silicon Valley affiliate

Intero | A Berkshire Hathaway Affiliate

phone 831.346.2743

DRE# 02066698

www.lynnemacfarlane.com 

https://www.instagram.com/lynnemacfar…

https://www.facebook.com/LynneMacFarl…

https://twitter.com/lynnewatanabe

https://twitter.com/CapitolaHomes

https://bit.ly/LynneYouTubeChannel

SANTA CLARA COUNTY July 13, 2020

Know Why Tech Hubs in the S.F. Bay Area / Silicon Valley Have Edge in the Housing Recovery

Tech Hubs, such as #SanJose, #Sunnyvale, #santaclaracounty may have the edge in the housing recovery. “New supply” and “pace of sales” remained below during COVID19/SIP January, but in the West Coast, by June 21, it surpasses and continues to lead the recovery with the overall index now visibly above the pre-COVID benchmark.

What’s Driving Our Recovery?

1) Weather 2) COVID-19 containment 3) Economic resilience are three key factors driving regional differences in the housing recovery.

Realtor’s previous study about 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. It found that 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.

Lynne MacFarlane, MCDM, SRES Reatlor blogs about market data happening during CVD-19 / SIP in Silicon Valley

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, are seeing buyers and sellers reconnect faster than the rest of the country.

Lynne MacFarlane, Realtor discusses why Tech Hubs are helping to pull the real estate market strong

Yep, “West Coast rocks!” says this proud NorCal gal! 🙂

If you have any questions, or looking to relocate and would like any market stats or reports about schools in your desired area, I’m always happy to assist you in your next transition or move.

Lynne MacFarlane Homes

BuyersWhy buy May 30, 2020

Prosperity Home Mortgage – Interview with Rashel Yadegari [Video]

Today I interviewed Rashel Yadegari, Prosperity Home Mortgage as we discuss the common lending myths in the home buying process. If you have any questions with the lending process, please don’t hesitate to contact me or Rashel. Hope you enjoy my interview, as it is meant to be a open conversation and an ongoing discussion; I believe it’s best be informed so you can make smarter decisions.

Rashel Yadegari, Prosperity Home Morgage, Mortgage Consultant
NMLSR ID: 1246397
Cell: 408-912-0570
email: Rashel.Yadegari@phmloans.com

Lynne Watanabe MacFarlane, MCDM, SRES | Realtor
PFAC Silicon Valley affiliate
Intero | A Berkshire Hathaway Affiliate
phone 831.346.2743
DRE# 02066698
www.Intero.com | facebook | linkedin | blog | videos| luxury home collection | committed to our community

Thanks for your interest!

Lynne MacFarlane Homes

Market ReportMONTEREY COUNTYSAN MATEO COUNTYSANTA CLARA COUNTYSanta Cruz CountyShelter in placeVideo April 8, 2020

SF Bay Area Real Estate Market Doesn’t Stop After Shelter-In-Place

Lynne MacFarlane Homes - blog post SIP daily stats

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.

Lynne MacFarlane Homes - Discussing Shelter in Place data for real estate trends

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.

Lynne MacFarlane, Realtor - Shelter in Place discussion

Here we see a big difference between the new 2019 listings in blue vs. the new 2020 listings in orange after SIP.

Lynne MacFarlane, MCDM, PFAC affiliate and realtor discusses the real estate market before, during and after sheltering in place in Silicon Valley and Monterey Counties.

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!

Lynne MacFarlane Explains Shelter in place with a troll

 

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

lmacfarlane@intero.com

Lynne MacFarlane Homes

If you want to know what’s going on in the market, sign up here!

ArticlesEconomyHomeownersMONTEREY COUNTYReal EstateSAN MATEO COUNTYSANTA CLARA COUNTYSanta Cruz County March 23, 2020

Will The Corona Virus Create A Housing Crisis …And Our New Norms

Lynne MacFarlane, Realtor - Together, we got this!

I provide a Home & Lifestyle Consultation to prepare what buyers want now! Today’s modern savvy realtor uses virtual real estate technologies. I provide what buyers and sellers truly want in experience and safety. Click on image to learn more!

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.

Lynne MacFarlane Realtor explains

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. 

 

Lynne MacFarlane says "No Dancing"

Take care of your needs now & let me know if I can help in anyway!

We’ve got this!

Lynne MacFarlane Homes

 

Lynne MacFarlane, MCDM, Realtor, PFAC affiliate

DRE# 02066698

(831) 346-2743 text/voice anytime