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Interest Rate Impact

by Kathy and Michael Rain - The Rain Team

Sellers Remain in Driver’s Seat

by Kathy and Michael Rain - The Rain Team

The lazy days of summer may be here, but it’s a busy season for the real estate industry. Home buyers are out in force looking for new homes, but fewer “For Sale” signs are popping up in neighborhoods across much of the nation, creating stiff competition for those seeking their dream homes.

This spring’s home-sale numbers reflect the continued housing inventory shortage. In May, existing-home sales decreased modestly, according to the National Association of Realtors® (NAR). Existing-home sales dropped by 0.4% from April and 3% from a year earlier to a seasonally adjusted rate of 5.43 million, NAR reported.

New-home sales are faring much better. Sales of new single-family houses climbed 6.7% in May, the highest level since November 2017, according to the Commerce Department. Construction of new homes is expected to increase 10% this year, to about 1.3 million new single-family homes, but that still won’t be enough to keep up with the growing demand, said Lawrence Yun, NAR chief economist, in an interview with CNN Money.

Besides low inventory, buyers are facing a gradual rise in loan interest rates, which have been trending slightly higher throughout 2018 and are expected to continue increasing the rest of the year. So, despite the tough competition, if you’re thinking of buying a new home this year, now is a good time to start.

Here are a few more reasons why the summer of 2018 is a great time to sell:

NAR’s latest Buyer Traffic Report shows that buyer demand remains very strong in most parts of the country. Buyers are ready and able to purchase, with multiple buyers often competing for the same home.

NAR’s Realtor® Confidence Index showed that properties were typically on the market for just 26 days in May, giving homeowners time to sell quickly and get settled in a new home before kids return to school.

More buyers are getting pre-approved for loans before beginning their home search, making the selling process much faster and simpler. According to Ellie Mae® Origination Insight Report, the average time it took to close a loan in April was 41 days.
With trees, flowers and other plantings flourishing, curb appeal is typically at its peak during the summer.

To make the most out of your summer real estate goals, it is vital to choose an experienced local agent with the resources and tools to guide you through the entire process, so contact The Rain Team today.

Photo By Mark McCammon On Pexels

The Connected Kitchen

by Kathy and Michael Rain - The Rain Team

Market Snapshot: San Mateo County Real Estate Report

by Kathy and Michael Rain - The Rain Team

Here is an updated Market Report summarizing recent real estate activity along the coastside. Please keep in mind that the values represented are based on current, detailed information from the Regional Multiple Listing Service. If you need clarification on any of the figures or if you wish to take additional steps toward property ownership, please let us know. We are happy to help you. See the full report.

What To Do ASAP As A New Homeowner

by Kathy and Michael Rain - The Rain Team

It’s finally yours. Your very own home. You can paint the walls whatever you like. Heck, even knock out a wall! There’s no landlord to fight you.

But if you’re serious about developing good homeowner habits (so your home makes you richer, not poorer), you’ll use this worksheet the minute you close on your home — if not before. Easier to do now than suffer some head-slapping regrets later.

If that doesn’t do it for you, here’s a *cheater* version done in the form of 22 tips. You only need scroll:

Security & Safety

These are the very first things you should do after buying a house (for obvious reasons):

1. Change locks. Spares could be floating around anywhere.

2. Hide an extra key in a lockbox. Thieves look under flower pots.

3. Reset the key codes for garage doors, gates, etc. The former owners might’ve trusted half the neighborhood.

4. Test fire and carbon monoxide detectors. Who knows when the last time was. Definitely install them if there are none.

5. Check the temperature on your water heater, especially if you have young ones, so it won’t accidentally scald. Manufacturers tend to set them high. But the best temperature setting for hot water is 120 degrees.

6. Make sure motion lights and other security lights have working bulbs.

7. Put a fire extinguisher in the kitchen and each additional floor.

Maintenance Planning

Start your master maintenance plan (and good home-keeping habits) by setting reminders in your calendar to do these basic maintenance tasks:

8. Clean out the dryer hose and vent yearly. Clogged ones burn down houses. And you don’t know the last time the previous homeowner did it.

9. Change your HVAC filters at least once a season. You’ll save on heating and cooling — and your unit will last longer. (While you’re at it, go ahead and stock up on them, too.)

10. Schedule HVAC maintenance for spring and fall.

11. Clean your fridge coils at least once a year. It’ll run better and last longer. (Don’t see any coils? Lucky you! Newer fridges often have coils insulated, so there’s no need for annual cleaning.)

12. Drain your water heater once a year.

13. Clean your gutters at least twice a year.

14. And if all items on your inspection report were not addressed, make a plan to fix them — before they become bigger and more expensive repairs.

Emergency Preparedness

You really really don’t want to be figuring any of this out in a real emergency. Do it now. You’ll sleep better and be less likely to ruin your home.

15. Locate the main water shut-off valve. Because busted pipes happen to almost every homeowner at least once. And water damage is value-busting and pricey to fix.

16. Find the circuit box, and label all circuit breakers.

17. Find the gas shut-off valve, too, if you have gas.

18. Test the sump pump if you have one. Especially before the rainy season starts.

19. List emergency contacts. You already know 911. These are the other numbers you often need in an emergency. You should have them posted where they’re easy to see. In fact, here’s a worksheet you can fill out and post.

  • Your utility companies
  • Your insurance agent
  • Plumber
  • Electrician

20. Assemble an emergency supply kit. Some key items are

  • Flashlights and batteries
  • Non-perishable food and water
  • Blankets and warm clothing
  • A radio, TV, or cell phone with backup batteries

     

Home & Mortgage Documents

In case there’s a dispute with your mortgage lender or a neighbor over property lines, or if you’re a bit forgetful about due dates.

21. Store copies (the originals should be in a fireproof safe or safety deposit box) of important home documents so they’re readily available. Go paper, cloud, or better, yet, both.

  • Lender contact information
  • Property survey
  • Inspection report
  • Final closing documents
  • Insurance documents

22. Set mortgage and other bills to auto-pay so you’re never late.

 

Photo by PhotoMIX Ltd. by Pexels

Displaying blog entries 1-5 of 5

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The Rain Team
CA# 01169588 | CA# 01125976 | CA# 01908304
248 Main Street, Suite 200
Half Moon Bay CA 94019
Michael: 650-888-6361
Kathy: 650-888-6903
Fax: 866-396-0207

Kathy and Michael Rain of Coldwell Banker provides real estate services in the San Mateo County, California area including the surrounding communities: El Granda, Half Moon Bay, Montara, Moss Beach, Pacifica and San Mateo. Search for homes in San Mateo County. We list and sell residential real estate, investment properties, vacant land, lots for sale in the San Mateo County, California area.

Licensed in the State of California

Kathy Rain - CA BRE# 01169588 | Michael Rain - CA BRE# 01125976 | Coldwell Banker - CA BRE# 01908304  

Email: therainteam@coastal-realestate.com
Cell Phone: (650) 888-6903 * Direct Phone: (650) 712-0411
San Mateo County Real Estate and Homes for Sale

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