Why are Bay Area home prices still increasing? | Weekly Real Estate Tuesday Tip

Average U.S. 30-year mortgage rate rises from all-time lowhttps://www.housingwire.com/articles/average-u-s-30-year-mortgage-rate-rises-from-all-time-low/Mortgage lending volume in 2020 likely to break recordshttps://www.housingwire.com/articles/mortgage-lending-volume-in-2020-likely-to-break-records/Builder confidence reaches 35-year high in Septemberhttps://www.housingwire.com/articles/builder-confidence-reaches-35-year-high-in-september/How many homes did iBuyers purchase in Q2?https://www.housingwire.com/articles/how-many-homes-did-ibuyers-purchase-in-q2/Facebook will buy REI’s unused Bellevue headquarters complex, signaling offices are still relevanthttps://www.seattletimes.com/business/real-estate/facebook-will-buy-former-rei-headquarters-in-bellevue/JPMorgan’s WFH model changed worker productivity—especially on two days of the weekhttps://fortune.com/2020/09/14/jpmorgan-work-from-home-wfh-worker-productivity/Latest Market Data for all counties in the Bay Areahttps://docs.google.com/spreadsheets/d/1P5T3T4doU9vutLotcKnZ0WCZahU0nvKn1khR-QQsrTI/edit?usp=sharing--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

18 Syys 202022min

Every Wednesday at 12PM PST, I interview and introduce a top agent from all across the country to hear about how they got into the business, what they are seeing with real estate impacts with COVID, and the economic drivers of an area!--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

16 Syys 202036min

On today's Tuesday Tip episode, we're going to explain why getting professional pictures and video on your home is no longer an option, it's a necessity…unless, of course, you don't care about selling for top dollar…People don't need to sell their home with a Realtor anymore; they choose to do so. Today, you can list by owner, sell direct, hire a flat fee broker, or go a traditional route and hire a beast Realtor, like me(!!), but the point is that you have options. Regardless of which option you use to sell your home, getting professional photos and videos is no longer an option; it's a necessity!The way people shop for homes online has changed. Did you know that over 90% of the search starts online? People today first see a house they like online, then they drive past it, and if they are still interested, that's when they set the appointment to view it.First, let's start with pictures and videos. Taking pictures with a cell phone is a big no-no. You might as well use this polaroid camera and send them the photos in the mail. You must hire a professional to handle this for you! The statistics on professional photography speaks for itself.Properties with HD enhanced images sell for 45% faster, and they also sell 75% closer to the listing price. So every property should have listings photos too. The pictures should show off the main selling features of the home, such as kitchen details, views, communal space, and bedrooms. These are rooms that trigger emotion, and they need to be shot in the best light possible! The agent can also decide which pictures are shown to the public. People are less likely to schedule a showing for a house that looks terrible online. The video should do the opposite. The video will showcase a live walkthrough of the house and, more importantly, showcase the flow of the house. The video is not going to sell the house, but it will increase showings and filter out people that aren’t serious. It allows your listing to stand out in a herd of homes for sale! This is also the perfect opportunity to share specifically what people should know about the home and the community.Video gives you an extra edge in marketing your home to the masses that properties without video cannot do. The way people search for homes for sale has changed, and so has the role of a modern Realtor. It is essential you hire someone with more than just a real estate license; they should be a marketer! It’s all about ATTENTION.So if you are thinking about selling your house, make sure you get professional pictures and videos are used no matter who you hire.Or you can hire Spencer Hsu, and I'll do it all for you!--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

15 Syys 20204min

Every week, I go over news that can affect Bay Area Real Estate. I look into news and data that can affect the Silicon Valley Real Estate Market. Tune in weekly and ask me anything!U.S. mortgage rates fall to all-time lows this weekhttps://www.housingwire.com/articles/u-s-mortgage-rates-fall-to-all-time-lows-this-week/Purchase market remains resilient as mortgage applications gain 2.9%https://www.housingwire.com/articles/purchase-market-remains-resilient-as-mortgage-applications-gain-2-9/Mortgage forbearance rate falls to a nearly 5-month low https://www.housingwire.com/articles/mortgage-forbearance-rate-falls-to-a-nearly-5-month-low/Survey says now is a good time to sell a home…but it’s also a great time to buyhttps://www.housingwire.com/articles/survey-says-now-is-a-good-time-to-sell-but-its-also-a-great-time-to-buy/Zillow: Nearly 2 million renters can become homeowners, thanks to telecommutinghttps://www.housingwire.com/articles/zillow-nearly-2-million-renters-can-become-homeowners-thanks-to-telecommuting/San Jose has a new fee on commercial development to pay for housinghttps://www.sanjoseinside.com/news/sj-has-a-new-fee-on-commercial-development-to-pay-for-housing/Proposed Cambrian Park Development Is First Test For Sj's New Affordable Housing Feehttps://www.sfgate.com/news/bayarea/article/Sj-Proposed-Cambrian-Park-Development-Is-First-15549503.phphttps://www.google.com/maps/place/Cambrian+Park+Plaza/@37.2603269,-121.9299862,17.75z/data=!4m5!3m4!1s0x0:0x55b117ee09930c05!8m2!3d37.2599931!4d-121.9304936Latest Market Data for all counties in the Bay Areahttps://docs.google.com/spreadsheets/d/1P5T3T4doU9vutLotcKnZ0WCZahU0nvKn1khR-QQsrTI/edit?usp=sharingEvery week, I go over news that can affect Bay Area Real Estate. I look into news and data that can affect the Silicon Valley Real Estate Market. Tune in weekly and ask me anything!Google unveils massive commercial development in East Whismanhttps://www.mv-voice.com/news/2020/09/01/google-unveils-massive-mixed-use-housing-and-office-village-in-east-whismanOkta will let most of it’s 2,600 employees work from home. 1100 are in the Bay Areahttps://www.cnn.com/2020/08/27/tech/okta-permanent-remote/index.htmlAverage U.S. 30-year mortgage rate rises this weekhttps://www.housingwire.com/articles/average-u-s-30-year-mortgage-rate-rises-this-week/Purchase applications are 28% higher than the same week one year ago – the 15th straight week of year-over-year gains.https://www.housingwire.com/articles/mortgage-applications-fall-for-the-third-week-in-a-row/Why is the housing market thriving in a pandemic?https://www.housingwire.com/articles/why-is-the-housing-market-thriving-in-a-pandemic/Blackstone gets back into the single-family rental gamehttps://www.housingwire.com/articles/blackstone-gets-back-into-the-single-family-rental-game/Two home offices? Real estate agents dish on the latest must-have amenitieshttps://www.housingwire.com/articles/two-home-offices-real-estate-agents-dish-on-the-latest-must-have-amenities/#Latest Market Data for all counties in the Bay Areahttps://docs.google.com/spreadsheets/d/1P5T3T4doU9vutLotcKnZ0WCZahU0nvKn1khR-QQsrTI/edit?usp=sharing--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

11 Syys 202019min

Welcome to my new PropTech Talk Thursday series to take a look and provide my candid thoughts on new Proptech businesses. These could range from products to companies leveraging technology to improve all facets of real estate. The Real Estate industry is one of the slowest to adopt technology but there are many opportunities along with money chasing these opportunities. This week, let’s take a look at Unison.Unison, based in San Francisco, CA, has raised $40 million in total funding with their latest round in 2018. They started their business in 2004 and have become a great option for people. So what do they actually do? Unison is considered a co-investor. They will front part of a down payment in exchange for future equity gains or losses.What makes them special? Traditional banks and investors have limited options. You can either get a loan for a standard 20% or you can get a loan for less but you will pay higher interest rates or mortgage insurance since you have little skin in the game. Paying less down payment is also only available for purchases under around $750,000 depending on the county. However, with Unison they will split the down payment with you and they are interest free!So how are they able to do that? Are they a charity? No, they will earn their money on the backend. When you sell the home, they will take 35% of future appreciation. Before you think it’s highway robbery, this isn’t a bad option. If you don’t want to put that much skin in a home, or your money can generate higher returns than real estate prices, which has been about 5-6% a year for the last 40 years, then it’s not a bad choice. They also will share the loss of the home with you. So if the market drops, and you have to sell at a loss for whatever reason, they will cushion that blow.As you can see, Unison is very bullish that over a long period, real estate prices will rise. Now what happens if you don’t sell the home? If you still live in your house after 30 years, you will have to buy Unison out, or sell your house and pay back the loan with the proceeds. There are several ways of buying them out including doing a home equity loan.So what do you think? Is this an option that you would consider? Leave it in the comments with your thoughts?--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

10 Syys 20203min

Every Wednesday at 12PM PST, I interview and introduce a top Realtor from all across the country to hear about how they got into the business, what they are seeing with real estate impacts with COVID, and the economic drivers of an area!Meet David Shapiro, investor, health nut, environmentalist, consumer champion and consummate professional. A self-made success who devotes his free time to fitness and friends, David finds motivation in helping his clients further their financial success through selecting the right real estate investments. Since purchasing his first property at the age of 20, David has gone on to invest in a half-dozen rental properties and is a partner in several commercial projects. As a developer, David successfully orchestrates the financing, construction, marketing and ultimately the sale of “Spec” homes built from the ground up. David invests based on his understanding of the locations, features and amenities home buyers want, as well as the prices they are willing to pay. More than simply finding a property, David appreciates the opportunity to help his clients understand all of the financial aspects of purchasing real estate, both today and in the future. David also spent 8 years as a profitability consultant to small business owners conducting over 2,000 one-on-one coaching calls.---If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

9 Syys 202033min

Every Tuesday, I go into detail a question I frequently get asked. Question of the week! If you are thinking of selling a house, are you curious what costs are involved?Selling your house can be very stressful thinking about moving, packing, and new surroundings, but you want to know what's even more stressful? Selling a house without knowing what the sale is going to cost you. When you know your selling costs upfront, you'll be able to negotiate with the upper hand, knowing what your bottom line net walk away figure would be. The most important number is not what it sells for, but what you walk away with. Title and Escrow Fees: This will vary on the sales price, but most importantly depending on which county you are doing the transaction in. If you are in San Mateo County, Title and Escrow is covered by the buyer side but if you were to sell in Santa Clara County, that will be on the seller side. You can expect around $6,000 in title and escrow fees for homes at $2M. Real Estate Transfer Stamps/Taxes: Will vary based on county and city. For San Jose the transfer taxes are shown here. You would be looking at around $13,000 from the seller side.Payoffs To Any Existing Loans: This is the payoff owed if there is debt on the property.Realtor's Commission: Commissions will be around 6% of the sales price, depending on your agent. A realtor's commission is split between a buyer and a seller's agent. Buyers are represented over 99% of the time by an agent protecting their interests. Your listing agent will then be responsible for marketing the property, handling showings, facilitating the transaction to closing, and protecting the seller. A good agent will easily justify their value as even though properties may sell fast, you can always get an edge to sell for as high as possible.When added up, your closing costs typically reflect a ~7-8% of your sales price but will vary, and I highly advise you get a seller net sheet before listing your home for sale so you'll have a realistic bottom of line figure.If you would like to receive an estimated net sheet for your upcoming home sale, we can put that together for you.--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

8 Syys 20203min

Every week, I go over news that can affect Bay Area Real Estate. I look into news and data that can affect the Silicon Valley Real Estate Market. Tune in weekly and ask me anything!Google unveils massive commercial development in East Whismanhttps://www.mv-voice.com/news/2020/09/01/google-unveils-massive-mixed-use-housing-and-office-village-in-east-whismanOkta will let most of it’s 2,600 employees work from home. 1100 are in the Bay Areahttps://www.cnn.com/2020/08/27/tech/okta-permanent-remote/index.htmlAverage U.S. 30-year mortgage rate rises this weekhttps://www.housingwire.com/articles/average-u-s-30-year-mortgage-rate-rises-this-week/Purchase applications are 28% higher than the same week one year ago – the 15th straight week of year-over-year gains.https://www.housingwire.com/articles/mortgage-applications-fall-for-the-third-week-in-a-row/Why is the housing market thriving in a pandemic?https://www.housingwire.com/articles/why-is-the-housing-market-thriving-in-a-pandemic/Blackstone gets back into the single-family rental gamehttps://www.housingwire.com/articles/blackstone-gets-back-into-the-single-family-rental-game/Two home offices? Real estate agents dish on the latest must-have amenitieshttps://www.housingwire.com/articles/two-home-offices-real-estate-agents-dish-on-the-latest-must-have-amenities/#Latest Market Data for all counties in the Bay Areahttps://docs.google.com/spreadsheets/d/1P5T3T4doU9vutLotcKnZ0WCZahU0nvKn1khR-QQsrTI/edit?usp=sharing--If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today!📧Spencer@spencerhsu.com📞 (408) 547-4590⏰ Set up a time to chat: https://calendly.com/spencerhsure🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲 Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background: Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we have helped 80 clients in the Bay Area with their moves, which positions our team as the Top 1% groups in the country. Looking forward to helping you into your next home and save/earn you more money!Spencer Hsu, MBA, RealtorSpencer@SpencerHsu.com408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate

4 Syys 202023min