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

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

Every Tuesday, I go into detail a question I frequently get asked. Why are Bay Area home prices still increasing?


I get asked this all the time as to why this is happening. For those that have hoped for a COVID discount, you can clearly see that once shelter in place happened, we have only gone up from there in most places outside of SF. Rental markets in more expensive areas have declined but home prices continue to increase and the amount that is pending a week have hit all time highs as well. You can see my latest market update video where I extract the data. So, what's going on?


1) The Fed and banks have been very aggressive in ensuring that people keep their homes. They had announced unlimited quantitative easing and to keep buying mortgage backed securities pushing mortgage rates to record lows. As mortgage rates keep declining, the buyer power of individuals increases. People that pay exorbitant amounts in rent (over $3,000/month) are realizing that they can easily own a home in most places across the Bay Area with the same monthly payment.


2) COVID has not affected people equally. COVID has negatively impacted younger people and the service industry far more than those that are mid-level in their technical careers. If you think and look around as to who is buying in the Bay Area, these are the people still actively buying and having confidence with their job security.


3) EVERYONE needs more space than ever before. The longer people work from home, the more they realize that their current situation is unbearable. This is why rental figures for 1 BR has plummeted double digits, but 2BR and Single Family Homes have done significantly better, even within those same cities. With people being able to work from home longer, people are more comfortable in buying a larger home further away even more so than before.


4) While inventory levels have improved and actually surpassed pre-shelter levels, we are still much lower than what is needed from a demand perspective. This is actually happening across the US but Bay Area is much more severe given the lack of space/construction in the core Bay Area. We don't have enough housing in the Bay Area and COVID made that imbalance much worse. Take a look at the stock prices of builders, they are all reporting record demand and can't build fast enough. As long as there is this problem, prices will likely continue to rise.


5) Millennials are growing up! People think millennials are only in their 20s and all they do is waste money on experiences or high rent. Given they can’t spend that money on those things anymore, they are using all of that saved income that they have to just buy a home instead! Millennials are classified to include people to the age of 38. Many millennials are starting young families and want to settle down. Be on the lookout as this trend won’t stop. There are over 83 million millennials right now.


Now what are my predictions? The next few months will continue to be intense and we will hit new record highs. I suspect the months after will slow down and not grow as fast. However, even as intense as it is right now, there are still plenty of opportunities as every home will have it’s own unique strategy. Do not psyche yourself out before you even begin the journey! Leverage the cheap money that banks are providing, get out of the rental market as that money is a waste, or find a bigger home so that you are comfortable in the new normal.


--

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, Realtor

Spencer@SpencerHsu.com

408-547-4590

EXP Realty DRE #02077253

https://www.homesbyspencerhsu.com/

#BayAreaRealEstate

Avsnitt(362)

California Dream For All 2024 Free Down Payment Assistance | Ebay Layoffs | Mortgage Demand Up

California Dream For All 2024 Free Down Payment Assistance | Ebay Layoffs | Mortgage Demand Up

This week, we talk about the 'California Dream For All 2024' program. eBay Layoffs: eBay, a major Bay Area-based company, has announced the layoff of approximately 1,000 employees​​.Mortgage Demand Increases: As mortgage rates drop, there's an uptick in mortgage demand, indicating a shift in the real estate market.San Mateo County's AI Employment Protection: In response to growing concerns about AI impacting job security, San Mateo County is taking steps to safeguard workers from losing their jobs to AI advancements.Bay Area's Culinary Recognition: Yelp's Top 100 Places to Eat in 2024 includes five restaurants from the Bay Area, highlighting the region's diverse and acclaimed culinary scene​​.Bay Area's Coffee Culture: A Bay Area city has emerged as the surprising No. 2 coffee spot in the U.S., underscoring the area's vibrant coffee culture and appeal.Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #siliconvalley

25 Jan 202419min

Pros and Cons of Buying A Home: Newer Vs Existing Home (first time home buyer)

Pros and Cons of Buying A Home: Newer Vs Existing Home (first time home buyer)

🏡✨ Deciding between a newer and an existing home for your first real estate venture? Join us in this insightful video as we break down the "Pros and Cons of Buying A Home: Newer Vs Existing Home," tailored especially for first-time homebuyers. Whether you're navigating the real estate market for the first time or seeking valuable insights, this guide will help you make an informed decision on the type of home that aligns with your preferences and priorities.🌟 Key Points Covered in This Video:1.Advantages of Newer Homes: Explore the benefits that come with purchasing a brand-new home, from modern amenities and energy efficiency to customizable features that reflect the latest in design trends.2.Charm and Character of Existing Homes: Delve into the unique charm and character offered by existing homes. Discover the historical significance, architectural details, and established neighborhoods that often accompany homes with a bit of history.3.Cost Considerations: Understand the financial aspects of both options, including the initial cost, potential maintenance expenses, and long-term investment value. We'll provide insights into how each choice may impact your budget.4.Customization vs. Ready-Made: Analyze the trade-offs between customization opportunities in newer homes and the immediate, ready-made appeal of existing homes. This aspect is crucial for those looking to personalize their living space.5.Home Inspection Insights: Learn about the importance of home inspections in both scenarios. We'll guide you through what to look for in new construction and what to watch out for in older homes, ensuring a thorough understanding of the inspection process.6. Resale Value Considerations: Explore how the choice between newer and existing homes might impact the resale value in the future. We'll provide tips on making a decision that aligns with your long-term investment goals.Whether you're embarking on your first home-buying journey or simply seeking guidance on the pros and cons of different types of homes, this video is a must-watch. Subscribe and hit the notification bell for more valuable insights into the world of real estate for first-time buyers! 🌟🏠 #FirstTimeHomebuyer #NewVsExistingHome #HomeBuyingGuide #RealEstateInsights-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #MovingtoCalifornia

24 Jan 202427min

Bay Area Market Update May 2023: Top 10 Wealthiest Cities | Bank Closures | Tech Giants on the Move

Bay Area Market Update May 2023: Top 10 Wealthiest Cities | Bank Closures | Tech Giants on the Move

In this comprehensive Bay Area Market Update for May 2023, we dive deep into the latest trends and developments in the housing market, the impact of recent bank closures, and the ongoing migration of tech giants. Join us as we explore:🏠 The current state of the Bay Area housing market, including home prices, inventory levels, and buyer demand.💰 How bank closures are affecting the local economy and real estate financing options.🚀 The movement of tech giants within the Bay Area and its implications for the job market and housing demand.HighlightsThese are the 10 wealthiest cities in the world—3 of them are in the U.S.https://www.cnbc.com/2023/04/26/world-wealthiest-cities-henley-partners-report.htmlIs First Republic and Silicon Valley Bank fallout hurting the Bay Area real estate market?https://www.sfchronicle.com/realestate/article/silicon-valley-first-republic-17889773.phpMortgage fees to rise for buyers with high credit scores, fall for those with lower scoreshttps://www.siliconvalley.com/2023/05/01/mortgage-fees-to-rise-for-buyers-with-high-credit-scores-fall-for-those-with-lower-scores/In Silicon Valley, nearly a dozen renters compete for every available apartmenthttps://www.mercurynews.com/2023/04/03/in-silicon-valley-nearly-a-dozen-renters-compete-for-every-available-apartment/Microsoft solidifies San Jose presence with fresh property dealhttps://www.mercurynews.com/2023/04/26/microsoft-san-jose-tech-real-estate-develop-build-buy-sell-land/Google moves into two big San Jose buildings within huge tech campushttps://www.mercurynews.com/2023/04/27/google-san-jose-office-building-expand-tech-jobs-economy-real-estate/Apple doubles down on Cupertino again, eyes big new office buildinghttps://www.mercurynews.com/2023/04/07/apple-cupertino-tech-build-real-estate-office-jobs-economy-covid/-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#BayAreaRealEstate #LivingintheBayArea #MovingtoCalifornia

24 Jan 202419min

SVB Saved by the US | What Does This Mean for the Future of Silicon Valley? Bay Area Housing Impact?

SVB Saved by the US | What Does This Mean for the Future of Silicon Valley? Bay Area Housing Impact?

In recent news, SVB, the tech industry's most important bank, was saved by the US government. But what does this mean for the future of Silicon Valley? Will this bailout have a lasting impact on the industry? In this video, we'll explore the significance of SVB's rescue, including the reasons behind the government's intervention and the potential long-term effects on Silicon Valley and beyond. Join us as we dive into this crucial moment in tech industry history and discuss what it could mean for the future.-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#SVB #BayAreaRealEstate #firstrepublic

24 Jan 20249min

Sunnyvale Through Native Eyes: Finding Your Place in California's Tech City

Sunnyvale Through Native Eyes: Finding Your Place in California's Tech City

🌞🏡 Embark on a unique perspective of Sunnyvale, California, through the lens of a native guide in our latest video, "Sunnyvale Through Native Eyes: Finding Your Place in California's Tech City." Join us as we navigate the vibrant streets, explore local gems, and delve into the community dynamics that make Sunnyvale a distinctive and welcoming city.🌟 Highlights of this Native-Guided Exploration:*Local Insights: Gain exclusive insights from a native resident who unveils the hidden treasures, cultural nuances, and local stories that define Sunnyvale. Discover the city's evolution, from its historical roots to its modern identity as a bustling tech hub.*Tech City Lifestyle: Dive into the vibrant lifestyle of Sunnyvale, located at the heart of Silicon Valley. Understand how the city's proximity to major tech companies has shaped its culture and contributed to its dynamic atmosphere.*Community Connection: Discover the strong sense of community that defines Sunnyvale. Learn about local events, initiatives, and the friendly atmosphere that makes residents proud to call Sunnyvale home.Whether you're considering a move to Sunnyvale, a tech enthusiast, or simply intrigued by the local perspective, this video provides an authentic glimpse into life in Sunnyvale through native eyes. Subscribe and hit the notification bell for more enriching content as we explore the diverse landscapes of California! 🌟🏠 #SunnyvaleLife #TechCityLiving #CaliforniaExploration #LocalGuides-Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ Facebook: https://www.facebook.com/spencerhsure→ LinkedIn: https://www.linkedin.com/in/spencerhsu/_________________________________#LivingintheBayArea #Sunnyvale #LivinginSunnyvale

24 Jan 202415min

The REAL Pros and Cons of Living in San Francisco in 2024

The REAL Pros and Cons of Living in San Francisco in 2024

🌉 Discover the Real San Francisco: Pros and Cons of Living in the Golden City in 2024 🏙️ As a lifelong Bay Area native, I'm diving into the real San Francisco - beyond the Golden Gate! Join me as I explore what makes this city unique, from its incredible diversity and vibrant art scene to the challenges of living in one of America's most iconic cities. 🎨 Cultural Melting Pot: SF's Chinatown, top-notch museums, and the Mission District's outdoor art showcase the city's rich cultural tapestry. 💸 The Cost of Living: A mixed bag of housing options with median prices at $1.36 million, yet more affordable now than five years ago. Wondering about specific listings? Let's chat! 🚀 Tech Hub & Academic Excellence: Home to global tech giants and prestigious universities - a beacon for innovation and career growth. 🚗 Navigating the City: Traffic woes balanced by effective public transit and the city's compact size. 🌿 Nature's Doorstep: From serene beaches to Golden Gate Park, nature is just a stone's throw away in SF. 🌥️ Foggy but Walkable: SF's unique microclimates offer a refreshing, if sometimes chilly, walking experience. 🏀 Sports Paradise: Home to world-renowned sports teams and a vibrant sports culture. 🏙️ Nightlife: A bustling scene with exclusive clubs and exquisite dining options - a foodie and socialite's heaven! ⚠️ Facing Challenges: Addressing the city's homelessness crisis, crime rates, and ensuring safety remain crucial. Whether you're considering moving here or just curious about San Francisco's current state, this video offers an insider's view. And if you're looking to make a move in the Bay Area real estate market, my team is ready to assist. Let's connect! 👉 Watch the full video for an in-depth look at San Francisco in 2024. #SanFrancisco #BayAreaRealEstate #CityLife #GoldenGateBridge #SanFranciscoLiving

22 Jan 202410min

The Reason why TikTok Star Keith Lee Left Early | Brand New California City? | Live Q&A

The Reason why TikTok Star Keith Lee Left Early | Brand New California City? | Live Q&A

🌟 The Reason why TikTok Star Keith Lee Left Early | Brand New California City? | Live Q&A 🌟Discover the behind-the-scenes story of TikTok celebrity food critic Keith Lee's unexpected early departure from the Bay Area. Faced with public safety concerns, a striking dissatisfaction with local cuisine, and a severe allergic reaction, Lee's journey was cut short, sparking widespread discussion. Join us in unraveling the details of this surprising turn of events and explore the potential impact on the Bay Area's reputation as a culinary destination. Engage live, ask questions, and delve into the intriguing world of food criticism and urban challenges.--Spencer Hsu is a Bay Area Real Estate Agent, a Residential, New Home Construction and Relocations specialist with eXp Realty LLC. Serving the entire Bay Area. He aims to help busy professionals in the Bay Area find their dream homes by leveraging tech, data and local insights.CONTACT ME: Call / Text: (408) 547- 4590DRE 02077253Email: spencer@spencerhsu.com www.homesbyspencerhsu.com💥 Follow me on Social Media 💥 → Instagram: https://www.instagram.com/spencerhsure/→ LinkedIn: https://www.linkedin.com/in/spencerhsu/________________________________#BayAreaRealEstate #LivingintheBayArea #siliconvalley

19 Jan 202418min

Los Gatos CA BEST Pros and Cons 2024 | Moving to Los Gatos | Bay Area Real Estate

Los Gatos CA BEST Pros and Cons 2024 | Moving to Los Gatos | Bay Area Real Estate

This video presents to you Los Gatos explained. If you're curious about what the best things are about living in Los Gatos, California, we've got you covered with this overview of the city with the help of Google Maps. Find out what to do in Los Gatos, the distance from Los Gatos to major Bay Area locations, the best schools, restaurants, and outdoor activities in and around the city, and more.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 want to help busy professionals in the Bay Area tech industry find their dream homes by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks of buying, selling, and investing in the Bay Area. We are thrilled to share that we helped 80 Bay Area clients in 2022 with their moves, which positions our team among the Top 1% 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

17 Jan 20246min

Populärt inom Business & ekonomi

framgangspodden
badfluence
varvet
rss-borsens-finest
rss-svart-marknad
uppgang-och-fall
svd-ledarredaktionen
lastbilspodden
rss-dagen-med-di
fill-or-kill
rss-kort-lang-analyspodden-fran-di
avanzapodden
affarsvarlden
24fragor
rss-inga-dumma-fragor-om-pengar
rikatillsammans-om-privatekonomi-rikedom-i-livet
bathina-en-podcast
borsmorgon
rss-en-rik-historia
tabberaset