Regular folk ain't gotta prayer to stay near San Jose/SF. SF Chronicle reports:
Squeezed by astronomical home prices and rents that are almost as unaffordable, a growing number of Bay Area residents are pulling up stakes and trading long commutes for cheaper housing.
This East Bay gem has plenty to offer excitement seekers of all hair lengths.
Mercury News has the latest stats for lux properties in SF/Silicon Valley, and it's getting mind boggling. $1M dollars don't get you much round these parts.
The big-ticket sales were concentrated in the South Bay, Peninsula and San Francisco, where companies such as Google and Facebook were sending waves of newly minted millionaires out searching for their dream homes, which were in short supply. Bidding wars pushed high prices even higher.
You might remember I posted this fantastical image on my Instagram (@hermanity) of the Docusign office in San Francisco earlier this month. I can now reveal Docusign invited me to their swank new San Francisco HQ to chat about how I use Docusign , especially with Google Drive. The feature just went live on their site! Check it out!
Seriously folks, if your Realtor doesn't offer Docusign to you, they are doing you wrong! It'll change your life. When they need your signature ASAP (which is like always!), no more scrambling around for a printer, finding a scanner, or god forbid using a fax! It's all electronic, paperless & mobile!
Walkscore.com Ranks San Francisco As 2nd Best City to Live Car-Free After NYC (But Just By 1 Point! We Catching Up!)
American Home Buyers Stats Now Include LGBTQ, BFF's & DINK (Dual Income No Kids)! Times, They Are A-Changing!
San Francisco Lost Its Appeal! Palo Alto & Berkeley Ranked Top 3 Most Livable Places! (SF Didn't Even Crack Top 100. Wonk Wonk)
Livability.com scores the top 100 cities across America as the best places to live and visit. Their criteria is based on housing, education, amenities, transportation/infrastructure, social/civic capital, health care & economics. Over 2 dozen cities in California made the list! Did your city make it?
The apartment rental startup Zumper has updated its maps of the median rents for one and two bedroom apartments in San Francisco by neighborhood. It found that the median price for a one-bedroom in the city is now $2,764. The median price for a two-bedroom is $4,000.
There is no stopping California! Per RealEstate.com, 5 of out 10 cities for Best Value Appreciation for 2013 are in the Sunshine State. The Bay Area is sitting pretty at 3rd place (San Francisco, Oakland & San Jose). I can personally attest the market is completely bonkers. Multiple offers, overbids, all cash, it's like it's 2007 all over again. The difference this time is that it's not based on "Liar Loans", subprime mortgages and zero downpayments! When people are putting down 20% to call cash, they ain't gonna just walk away! They got skin in the game. They stay to play! What do you think?
Nene models a gown made of real moola!
About quarter to a 1/3 of my deals were all cash last year. Apparently, that's the norm...at least in California. Housing Wire reports that over 30% of the homes sold in 2012 were purchased with cold hard cash! 145,797 to be exact. Compare that to the peak of the market in 2007, when only 39,731 were all cash.
I've blogged a bit about 'Rent To Own' (especially about Bravo TV Housewives Kim Zolciak & Adrienne Maloof). Glad CNBC asked me to weigh in on this phenomenon for their article Rent to Own Homes: an Option to Consider? Generally speaking, I dont' think it a great option but sometimes it can be a last resort for certain people desperate to get into a certain area. What do you think, guys? Pros/cons?
"Renting to own is also a way to get into a desired neighborhood in a timely matter, as with parents who need to be in school district for their kids, or people who are uncertain of their timeline, according to San Francisco real estate professional Herman Chan. "It's a way to get into a house without committing to a 30 year mortgage," he said."
Ashley Madison, the infamous hook up site for married people seeking affairs, posted the top 10 cheating neighborhoods in San Francisco. SF Weekly reports: "San Francisco is a great place to have an extramarital affair, especially in the wealthy enclaves of the city, where you are most likely to find a cheating spouse". Hoity Toity Pac Heights, Fidi, & Marina Districts lead the pack. But you can't just blame the men. I know a whole lotta females who vulture these 'hoods hoping to marry up too! Just sayin'
New National Association of Realtors survey says single people are screwed. "The continued growth in married couples as single buyers shrink demonstrates that households with dual incomes are more successful in obtaining a mortgage." What are us lonely single gals supposed to do? We can't compete. Unless we marry up, is there any hope?!
Historically, this is the last chance for sellers to bring their house on the market before things wind down in Q4. But with so little inventory, rates low, housing data improving, and media reporting positively on the industry, I predict the winter real estate market will continue to uptick.
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