The median price of a single-family home in Santa Clara County hit seven figures for the first time last month: $1 million on the button."And even at $700,000, you're going to be in second-tier schools.AdvertisementThe numbers reflect a crisis that is squeezing low-income earners and the middle class.Even in desirable Lafayette, Moraga, Orinda and Walnut Creek, she said, "We do have a little more inventory, but then you have to weed through that and find the few that are ready to go."Last month, they also bought their new place in Orinda: four bedrooms, four baths and 3,700 square feet on a hillside with 100-year-old oak trees and "tons of wildlife."Contact Richard Scheinin at 408-920-5069, read his stories at www.mercurynews.com/richard-scheinin and follow him at Twitter.com/RealEstateRag.
They decided to build a private studio for Kim -- a separate apartment inside the family home in Palo Alto, where they had lived for 25 years.So the couple scoured the Peninsula, hunting for a new house -- only to discover that each city had its own patchwork of restrictions.Kim Dvorak, 26, left, is photographed with her mother Erin Craig, in her studio in Menlo Park, Calif., on Thursday, June 30, 2016."It's a policy initiative whose time has come," said Denise Pinkston, housing co-chair for the Bay Area Council, a prime mover behind some of the initiatives.Among other provisions, it would prevent water and sewer agencies from charging hookup fees for ADUs built within an existing house or in an existing detached unit on the same lot.Jane Tyska/Bay Area News Group
According to a recently released quarterly report by the National Association of Realtors, San Jose, California has just become the first metro area to boast a median single-family home price of over $1 million.In addition to this surprising revelation, the report also noted that the median prices for single-family homes rose by roughly 83 percent across all measured markets.Essentially, homes are more expensive now than ever before, and the trend doesn t appear to be slowing down anytime soon.Of the 178 metropolitan statistical areas the NAR examines, just 29 of them — roughly 16 percent — reported lower median prices from the year prior, though there were a touch fewer rising markets in 2016 s second quarter than its first.Well, the first quarter of 2016 experienced price gains in 87 percent of its areas as opposed to 83 percent.Lower, yes, but still a sign of a dramatically rising housing market.
Faced with famously high prices and a tight housing supply, homebuyers grew shy last month.Preparing for an open house in San Rafael, Calif. Robert Tong/Marin Independent Journal Robert Tong CoreLogic's latest report shows sluggish activity for the nine-county region, which suffered its slowest July in five years.In Contra Costa County, sales declined for the fourth consecutive month, and were down 16.9 percent."Four, five and six months in a row -- that starts to make a trend," LePage said.He added a caveat: July had only 20 business days for transactions to be recorded in the public record, compared with 22 in June.Coupled with regional job growth, those factors again pushed the median price of single-family homes upward in July: by 5 percent, compared with a year ago, to $735,000 for the region -- though that was down from June's record high of $751,500.
It s official: New York City and Airbnb will work together.Airbnb agreed to terms of enforcement of a short-term apartment rental law by New York City and dropped a lawsuit against the city the hosting company filed in October, according to Reuters.The law, passed by the New York state legislature in June but not signed by Governor Andrew Cuomo until October, called for fines up to $7,500 for property owners who advertised short-term apartment rentals in buildings of three or more units.So it doesn t apply to someone renting a single room in their home, a basement apartment in a single family home, or even to half of a two-family home.The law was meant for listings on Airbnb and other peer-to-peer sites that had multiple units for rent in what were clearly commercial arrangements and considered illegal hotels.Airbnb filed suit because it believed the law s wording was not clear enough to protect online platforms such as itself, which could not be held responsible for landlords who broke the law.
From Graceland to the home of Mark Twain, old storied mansions are often transformed into museums.But when you're a billionaire tech exec, life can work the other way round.Amazon CEO Jeff Bezos recently paid $23 million in cash for a 27,000-square foot property in Washington D.C. that just happens to be the city's former Textile Museum, according to a report from The Washington Post.He plans to turn the massive property — which includes two 4-story houses — into a single-family home.It's a nearly century-old assemblage of multiple buildings encompassing 10 bedrooms and 14 bathrooms across a 3/4-acre swatch of land that boasts rolling gardens of vibrant greenery.Mysteriously purchased back in October by the Cherry Revocable Trust, the former museum buyer's true identity wasn't known until recently, The Post reported.
Plus, apartments have different needs than single-family homes.I can t even count the number of LED and smart lightbulbs I have lying around, but when picking out smart lights for the DT smart apartment, I had a number of factors to consider.There are a number of ways to make your lights smart: There are smart bulbs, smart switches, and smart plugs.If your switch isn t permanently flipped up, the app can t illuminate the bulb for you.If you recently switched to non-connected, long-lasting LEDs, fear not.This is more work than swapping a bulb, but it has some advantages.
Plus, apartments have different needs than single-family homes.With that said, I decided to try out four smart-home devices that are perfect for apartment dwellers, because they can easily fit in a moving van.Snooze in a smart bedFor a few hundred dollars more than other mattresses-in-a-box, you can get a SleepNumber It Bed, which is embedded with sensors.While it can sync with an activity tracker you wear on your wrist, the idea is that lying on top of a bunch of sensors that track your breathing, heart rate, and movement will be much better at determining how you’re sleeping than a watch will.Everything is handled on the SleepNumber app, which lets you adjust the firmness, tells you how well you’ve been sleeping via a daily “score,” and reminds you to start getting ready for bed at a reasonable time each night.
A report issued last week by the CoreLogic real estate information service showed that single-family homes in the nine-county region reached yet another all-time peak in May: $818,000, up 8.9 percent from a year earlier.Specifically, it showed that certain ZIP codes throughout the region seemed to be defying the relentless upward rise in prices — in fact, homes in these ZIP codes had depreciated in value over the last year.Intrigued, we asked Pacific Union to crunch the numbers further, focusing on four key counties: Santa Clara, San Mateo, Alameda and Contra Costa.Given the chronically tight housing supply and the steady — some would call it frenetic — demand from prospective buyers, home prices have been sailing upward in each of those counties when values are computed on a countywide basis.However, Selma Hepp, Pacific Union’s chief economist, had no trouble isolating 10 ZIP codes in those counties where single-family home values had actually dipped year-over-year, appreciably in some cases.Values tanked 20 percent in Santa Clara’s 95054 ZIP code, while Berkeley’s 94705 dropped 18 percent and Los Gatos’s 95030 fell 11 percent.
The supply of single-family homes is down, yet competition among buyers is driving sales up and prices keep rising — at times dramatically, including by 16 percent in Oakland during the first half of the year, according to a new report.The association offered some East Bay snapshots, comparing the first six months of 2017 to the same period in 2016.Along the 880 Corridor, the home supply was down 10 percent and sales dropped less than one 1.0 percent — the only part of the region where sales decreased.Looking at individual cities, Oakland experienced that 16 percent jump to $780,000, while Fremont rose 8 percent to 1,042,450.Inventory was down 8 percent, sales were up 2 percent and prices rose 7 percent.Yet look at those prices: In San Pablo, where prices jumped 14 percent, a single-family home could still be had for a median sale price of $398,750.
The number of available homes is down across the state of California, as prices surge and the affordability crisis becomes a statewide concern.The median price of a single-family home rose 7.2 percent year-over-year to $565,330 in California, its highest level in a decade; it was the sixth straight month that the median price exceeded $500,000 for the state.The median was $1,375,000 in San Mateo County, up 10 percent; $1,150,000 in Santa Clara County, up a daunting 17.9 percent; $867,500 in Alameda County, up 11.9 percent; and $627,860 in Contra Costa County, up 10.2 percent.The story behind the price increases, of course, is the lack of inventory.Spot-checking the Bay Area, the trend holds: San Francisco homes spent 15 days on market in August, compared to 25 a year ago; San Mateo homes spent 11 days on market, compared to 14; Santa Clara homes spent 9.5 days on market, compared to 15.Buyers fight over the few available homes and prices keep rising: “Even the most affordable markets are facing rising prices,” the report said, ominously.
They include Berkeley, Fremont, Lafayette, Walnut Creek, Danville and Pleasanton.To the east in suburban Brentwood, the median was $561,000, up 16 percent year-over-year, yet affordable by Bay Area standards.Still, regional and national trends played out across the East Bay, where the supply of single-family homes shrank in August, forcing prices up, sometimes dramatically– by 17 percent year-over-year in Hayward; and by 18 percent in Pleasanton, where the median price of a house was $1,200,000.The pattern is likely to continue: “With schools in session, there will be even fewer homes on the market” as the year winds down, predicted Dave Stark, a spokesperson for the Bay East Association of Realtors, whose latest report crunches the numbers for dozens of East Bay cities.Along the 880 Corridor, Fremont illustrates current trends.The supply of single-family homes in August was down 33 percent from a year earlier, while consumer demand pushed sales up 13 percent and the median price jumped 10 percent – from $935,000 in August 2016 to $1,030,000 this summer.
Bay Area home prices appreciated faster than the national average over the last year — but not by the wide margin we’ve grown accustomed to hearing about since the regional market caught fire more than five years ago.That’s the conclusion reached by the CoreLogic real estate information service in its latest Home Price Report.It shows home prices up 6.9 percent nationally between August 2016 and August 2017.Compare that with a 7.4 percent year-over-year gain in the Oakland-Hayward-Berkeley metropolitan area; a 7.7 percent increase in the San Francisco-Redwood City-South San Francisco metro; and a 9.7 percent gain in the San Jose-Sunnyvale-Santa Clara metro.Keep in mind that Bay Area prices are rising from an exceptionally high baseline.The median sales price of a single-family home in the region is close to $800,000 and exceeds $1 million in some counties.
A house at 44 Wilde Avenue in San Francisco will sell for over $520,000.MLSSan Francisco ranks as the most unaffordable city in the United States.The median price for a one-bedroom home is around $820,000.By comparison, the half-million asking price of the city's least-expensive single-family home on the market is a steal — or as Rick Smith, the real estate agent behind the listing calls it, "a joke."The decrepit house is a classic example of San Francisco's housing crisis, which has accelerated in the last few years.The home (which resembles more of a shed than a house) sits in Visitacion Valley, an outer neighborhood of San Francisco.
Rising property values in Vancouver have resulted in the demolition of an unprecedented number of single-family homes in recent years, many of which were replaced with the same type of structure.Despite the better energy performance of the new homes, this cycle is likely to increase overall greenhouse gas emissions, according to new analysis from researchers at the University of British Columbia and MountainMath Software."The Zero Emissions Building Plan instituted by the City of Vancouver, which aims to eliminate emissions from the operations of new buildings by 2030, has already improved the energy efficiency of new homes," said study author Joseph Dahmen, a professor of architecture and landscape architecture at UBC."This is a significant accomplishment, but the teardown cycle is preventing many single-family homes from surviving long enough to 'pay back' the initial impacts caused by construction materials, which are not accounted for in the current plan."The study, which will be published in July in Energy and Buildings, finds that new single-family home construction in Vancouver will result in one to three million tonnes of added emissions between 2017-2050, even though the new homes will require less energy to heat and operate.It also reports that each percentage point increase in land value will result in an additional 130,000 tonnes of emissions in Vancouver during the same period.
Now an Austin-based startup called Icon can erect a house nearly 200 times faster—in a day.Engineers run digital blueprints for the home through so-called slicer software, which translates the design into the programming language G-code.That code determines where the printer moves along its track, extruding 3⁄4-inch-thick layers of concrete like icing on a cake.The base material—a finely calibrated mix of cement, sand, plasticizers, and other aggregates—gets poured into a hopper at the top of the printer and flows onto the rising walls below.The resulting abodes, which will cost $4,000 to build, are the latest addition in the ubiquitous tiny-house movement.(Icon’s ultimate goal is to alleviate the housing crisis; the company is exploring partnerships with FEMA and Fannie Mae.)
The opportunities that can bring you a huge return on single family home investment.Answer to all these questions is that you can either invest through the stock market or as a direct buyer.In particular, the property’s revenue potential can help you determine if you want to purchase it and invest in it.More or less, it’s the indication of the percentage profit an owner can expect after a certain time period.Remember, higher the cap rate on property, higher will be the project lucrativeness.Think of do you want to manage the properties yourself or hire a property manager for this job?
Read on for our breakdown of multifamily homes, including how to find them in your area.The most attractive part of investing in and renting out a multifamily home is the steady revenue stream you can get from collecting rent.Multifamily home as an investmentJust like any new home, a multifamily home may be move-in ready, or it might be a serious fixer-upper.Before buying a multifamily home, you should perform due diligence and assess just how much money you’ll need to put into sprucing up the units.Susan Haas, a real estate agent at Joyner Fine Properties in Richmond, VA, suggests getting quotes from contractors on any work that’s needed before making an offer on a home.
Yarusi Holdings rental properties are one of the best values that meet and exceed other investment types of apartment complexes.We have increased in value as the net property improves through rent increase and more effective with the management of all assist.It is more difficult to achieve this and we have to purchase one single-family home at a time.There are also providing a more ideal vehicle if your goal is to build a sustainable and growing business because of the ability to serve more clients.Each property had to be landscaped, mechanicals for each property serviced, the roofs and driveway kept in good condition, and many more.We also offer the more properties do not have sufficient revenue and more typically required to handle with day by day and along with the all property with oversight and direction from the syndicator and service contracts benefit of economy of scale.
A space is an enormous, open space without interior dividers and it's found generally in modern spots or business structures.The Good and Bad Side of Living in a Loft