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Blog Archives: March 2015

Tax Time 2015: How Buying a New Home Can Impact the Amount of Tax You’ll Pay

March 25, 2015
Few people consider the tax implications of buying a home, but there are many. Here are a few ways buying a home can impact the amount of tax you pay. Mortgage Interest Most people put down the minimum amount of money needed to buy a home and finance the rest, usually over 30 years. This means that, especially in the early years of the loan, most of what they are paying are the finance charges. The good news is that all that interest is tax-deductible for people who itemize their deductions, which adds up to several thousands of dollars in ...

What’s Ahead For Mortgage Rates This Week – March 23, 2015

March 23, 2015
Last week’s events included the National Association of Home Builder’s Housing Market Index, which fell to its lowest reading since last summer. Other news included reports on housing starts and building permits, the FOMC meeting statement and Fed Chair Janet Yellen’s press conference. Home Builder Confidence Falls, Building Permits Rise The NAHB Wells Fargo Housing Market Index fell by two points for a reading of 53 in March. The expected reading was 57. Analysts said that this proves that lower mortgage rates and steady job growth aren’t ...

Median List Price for San Francisco Condos is $1,097,000

March 18, 2015
The median list price in SAN FRANCISCO, CA this week is$1,097,000. Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market. The market has achieved a relative stasis point in terms of supply and demand – conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result. This week saw relatively little price ...

Tuesday Tour Schedule Released – 15 Pages_3.17.2014

March 16, 2015
Tuesday tour (aka Broker’s Tour) is not just for brokers anymore – the public is invited and welcome to attend. In fact, it’s one of SF’s best kept real estate secrets. Many of the properties on the tour are open for the first time. For serious buyers, this is a great opportunity to get a sneak peak before the weekend crowds. Plus, many of the open houses are catered – BONUS! Click HERE for a full schedule I go out just about every week to scope out what’s hot and what’s not and report back to my clients. We had 14 pages last week. This ...

Market Focus Report February 2015

March 16, 2015
There has been talk of abundant cold and snow this winter (unless you happen to live in California!). When weather patterns turn bad, like wicked bad, real estate industry pundits tend to go gloom, assuming that Americans hungry for homeownership are bothered by a little frozen precipitation. The nation will unfreeze, inventory is expected to rise and home sales are widely expected to increase. These are good times, indeed, and many of us now have an enchanting shared experience that we can walk uphill to school both ways. New Listings were ...

What’s Ahead For Mortgage Rates This Week – March 16, 2015

March 16, 2015
Last week’s economic reports included job openings, retail sales, retail sales except automotive, consumer sentiment for March and the usual reports on weekly jobless claims and mortgage rates. Job Openings Highest in 14 Years The Labor Department reported that job openings reached their highest level in 14 years in January, and rose by 2.50 percent over December 2014 job openings. On a seasonally adjusted basis, there were five million job openings in January. Job openings rose by 28 percent year-over-year. Hiring rose by 3.50 percent to ...

Michael Minson Awarded 2014 Top Producer Distinction

March 14, 2015
San Francisco, CA (PRWEB) March 13, 2015 Climb Real Estate Group, a full-service general real estate brokerage serving the San Francisco Bay Area, is proud to announce the company’s top-producing sales agents for 2014. Top Producers are recognized not only by the amount of real estate that they are successfully able to market and sell but the satisfaction of their clients. Climb’s 25 Top Producers for 2014 are Todd Montgomery, Senior Sales Associate; Danielle Lazier, Sales Director; Marcus Lee, Sales Director; Dirk Kinley, Managing ...

Median List Price for San Francisco Condos is $1,095,000

March 13, 2015
The median list price in SAN FRANCISCO, CA this week is $1,095,000. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market. Market appears to have begun to cool.  As we’re still notably in the Seller’s zone, prices have not yet adjusted.  If the market continues to cool, then expect prices to follow lower. It may take a few more weeks of slack demand for prices to reflect and begin to fall.  Expect this condition if the index falls to the Buyer’s zone. ...

Three Inexpensive Makeovers That Will Boost Your Home’s Appeal to Young Buyers

March 13, 2015
When preparing to list your home for sale, you may be wondering who will buy your home. While this initial thought may be one spurred by curiosity, the fact is that understanding who your target audience is and what they are looking for in a home may help you to position your home to sell more quickly and for a better price. If you have determined that there are many younger buyers moving into your area, you may want to make a few changes that will add appeal to this target audience. While you could spend tens of thousands of dollars or more ...

Taking an Extended Vacation? Renting Your Home to Long-term Tenants is a Great Option

March 12, 2015
Taking an extended vacation can seem like a dream come true. You may have plans to spend your summer in Europe, your winter in the Caribbean or even a full year or longer exploring a different region. If you have the luxury of taking an extended vacation, you may have your sights set on adventure and relaxation. However, you also need to consider the practicality of leaving behind your home and belongings for an extended period of time. A great idea is to take on a long-term tenant for your home, and there are a number of benefits that you ...

Buying and Selling a Home at the Same Time? How to Juggle These Two Transactions

March 11, 2015
There are few things that can be more stressful than buying or selling a home. When you are buying and selling a home at the same time, your stress level may understandably skyrocket through the roof. There may be financial aspects of both transactions that may be cause you stress, and you may be dealing with logistical issues or simply feel stressed by the stacks of documents piling up for both transactions. While this will inevitably be a challenging time in your life, you can more easily navigate through the transactions with success by ...

All About Radon: How to Test Your Home for Radon Gas and What to Do if You Find It

March 10, 2015
If you are concerned about the presence of radon in your home, you are not alone. The fact is that radon is an invisible, odorless gas that may be found in buildings around the world. It is a radioactive gas that is emitted from the ground soil as trace amounts of naturally occurring uranium break down. The gas can enter a building and remain trapped, and this is known to cause as many as 21,000 deaths related to lung cancer each year, according to the EPA. Testing your home from time to time is a necessity, and you can easily accomplish this ...

Tuesday Tour Schedule Released – 14 Pages_3.9.2015

March 09, 2015
Tuesday tour (aka Broker’s Tour) is not just for brokers anymore – the public is invited and welcome to attend. In fact, it’s one of SF’s best kept real estate secrets. Many of the properties on the tour are open for the first time. For serious buyers, this is a great opportunity to get a sneak peak before the weekend crowds. Plus, many of the open houses are catered – BONUS! Click HERE for a full schedule I go out just about every week to scope out what’s hot and what’s not and report back to my clients. We had 15 pages last week. This ...

What’s Ahead For Mortgage Rates This Week – March 9, 2015

March 09, 2015
Last week’s economic news was light on housing related reports, but several employment reports were released along with the national unemployment rate, which dipped to 5.50 percent. This was a full point below the Federal Reserve’s original target rate of 6.50 percent. Construction spending was incrementally lower than expected and mortgage rates also fell. Fewer Private-Sector Jobs, Non-Farm Payrolls Increase The ADP employment report for February fell from January’s reading of 250,000 jobs to 212,000 private-sector jobs. January’s reading ...

Saving Up for Your First Home? Our Guide to Finding Ways to Save Your Down Payment Faster

March 06, 2015
If your goal is to purchase a home, you may find that it’s challenging to save up enough money for your down payment. While this is something that many first time home buyers struggle with, it is by no means insurmountable. By making a few simple changes you will be able to accumulate the funds you need for your down payment. Keep Track Of Your Spending One of the reasons why it can be difficult to save money is that you aren’t even sure of where your money is going. While you may be aware of major expenses such as rent, car payments and ...

3 Easy Ways to Put Aside a Bit of Extra Cash So You Can Pay off Your Mortgage Faster

March 06, 2015
If your personal budget is similar to many other people’s budgets, your home mortgage payment is by far the largest expense that you pay for each month. In fact, this payment may easily account for 20 or 25 percent or more of your take-home income. Understandably, you may be focused on trying to pay this expense off early. By focusing on this payment, you can build equity and may be able to achieve financial security more quickly. You simply have to find a way to put aside a bit of extra cash regularly so that you can make extra payments, ...

FHFA House Price Index Rises for 14th Consecutive Quarter

March 05, 2015
According to the Federal Housing Finance Agency (FHFA), U.S. home prices rose by 1.40 percent for the fourth quarter of 2014 and were up by 0.80 percent month-to-month from November. The seasonally adjusted FHFA House Price Index measures purchase transactions for homes connected with mortgages owned by Fannie Mae and Freddie Mac. FHFA also reported that home prices rose 4.9 percent year-over –year from the fourth quarter of 2013 to the fourth quarter of 2014. FHFA Chief Economist Andrew Leventis described the report for the last quarter of ...

Making the Offer: 4 Ways to Craft an Offer That Will Catch the Seller’s Attention

March 05, 2015
It can take a time and effort to find the perfect home to purchase. After you have found that home, you need to convince the seller that your offer is the one they want to choose. There may be multiple offers made at the same time, and you may be in a situation where you are competing for the home. Even if your offer is the only one the seller receives, there is no requirement that they must accept the offer you make. Crafting an effective offer that will catch the seller’s attention is important, and you may be able to accomplish this by ...

Median List Price for San Francisco Condos is $1,095,000

March 04, 2015
The median list price in SAN FRANCISCO, CA this week is $1,095,000. The Market Action Index has been trending down lately, while inventory and days-on-market are climbing. The trends imply a weakening market. In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb. The market appears to be hovering around this plateau....

Case-Shiller: Rising Home Prices Boost Inflation

March 04, 2015
December home prices rose by 0.10 percent according to the Case-Shiller 20-City Home Price Index. The composite report tracks home prices in 20 U.S. cities. December’s results boosted home prices by 4.50 percent year-over-year, which is approximately double the inflation rate for 2014. Analysts note that the overall reading was less significant than individual readings for the 20 cities included in the report. Regional Home Prices Suggest Disparity in Housing Recovery The top three month-to-month home price increases for cities surveyed ...

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