Welcome Rain!

It was so lovely to see the rain this week! This time of year brings out that home is where you want to be. I want to help you get that home feeling. Please know I am always ready to sit down and talk about your real estate dreams. “The house you looked at today and wanted to think about until tomorrow may be the same house someone looked at yesterday and will buy today.”

Please remember to scroll down and see our fantastic properties and come by our open houses each weekend.

I am always here to help you with all your real estate needs. Give me a call 24/7 at (510) 406-4836

Best,

Joujou

Diablo Valley Real Estate November 2022 Report

DID YOU KNOW?

Benefits of Home Equity:

An analysis from the Urban Institute estimates that those who became homeowners between the ages of 25 and 34 accumulated $150,000 in median housing wealth by their early 60’s. Meanwhile, those who waited until between the ages of 35 and 44 to buy netted $72,000 less in median housing wealth. (WSJ)
Homeowner equity peaked at $11.5 trillion collectively last May, after home prices jumped 45% since the start of the pandemic. About $1.5 trillion has eroded since then. Borrowers who bought their homes before the pandemic collectively have $5 trillion more than they did before the pandemic hit. (CNBC)
In the tough efforts to get people to come back to the office, many companies and buildings are resorting to installing amenities that resemble the best amenities found in high-end luxury condominiums and hotels, the workplace keeps evolving.

New Real Estate Trends:

Daily Starbucks store traffic in the U.S. reached approximately 95% of pre-pandemic levels in September in a sign that cities are rebounding. Starbucks has 35,000 stores and 400,000 employees in 80 countries. (CNBC)
Buyers who purchased homes in the year ended in June moved a median of 50 miles from their previous residences, according to a NAR survey released, the highest on record in annual data going back to 2005 and follows five straight years in which the median distance moved was constant at 15 miles. 48% of home purchases were in small towns and rural areas, a record in data going back to 2003 and up from 32% a year earlier.
Historically, first-time buyers made up about 40% of the market. But the share of first-time buyers fell to 26% during a recent 12-month survey period, from July 2021 through June 2022, plummeting to the lowest level since the trade association began tracking such data in 1981. The median age for first-time buyers was, at 36, the oldest it has ever been since 1981, as was the median age for repeat buyers, which rose to 59, during the survey period. (NY TIMES)
People from the ages of 55 to 74 accounted for 42% of home buyers, while the share of people from the ages of 25 to 34 accounted for only 14% of buyers.

- By Leonard Steinberg

Where Have Homeowners Built the Most Wealth?

According to Bankrate, longtime homeowners have acquired exponential gains in their home value over the past few years. But it’s not just for ultra-luxury homes—many average homeowners have properties worth millions in certain housing markets. Take a look at how have homes earned value, based on data pulled by NAR.

Courtesy of Bankrate