Big Picture Lamorinda Market Update

Big Picture Lamorinda Market Update

Recently our clients have asked us more and more “Where are we in the current real estate cycle and do you foresee a correction in the near-future.” This question is a valid considering the strong market that has persisted for years, rising interest rates and the new GOP Tax Plan that reduced deductions for real estate taxes and mortgage interest.

Talking Trash

Talking Trash

The spring market is here and buyers and sellers are packing up and moving in and out. Which bring us to talking trash. The number of boxes and packing material that it takes to move is mind boggling not to mention all of the trash that we accumulate over the years that we purge during a move.

Mortgage Rates Are Rising

Mortgage Rates Are Rising

The benchmark 30-year fixed-rate mortgage rose this week to 4.52 percent, according to Bankrate’s weekly survey of large lenders. Rates have increased almost half a percentage point since the beginning of the year and have risen for seven consecutive weeks. 30-year fixed rates are at the highest point since April 2014, when the average rate was 4.54 percent.

HERE COMES 2018!

HERE COMES 2018!

The end of the year is such a busy time, we hope you and your family had a moment to come
up for air and enjoy ringing in the New Year. Over the holidays inventory is traditionally low. No one wants to be bothered to show their home when family and friends are visiting and when there are so many other distractions. More importantly buyers are often out of town, waiting for their year-end bonus and the New Year to begin to start their home search. Despite the traditional holiday lull, December delivered some record high sales which we believe can be partially attributed to buyers and sellers scrambling to sell or buy before the new tax bill was enacted.

Preparing For Spring

Preparing For Spring

Despite the hustle and bustle of the holiday season, now is the perfect time to start laying the groundwork for a successful 2018 sale. This is especially true in Lamorinda where the “spring” market has gotten progressively earlier; school enrollment begins in the early spring which means many buyers are looking to close on their new home even earlier in the year to ensure that their child is able to attend neighborhood schools.  It is more important than ever to start making your to-do list now if you want to take advantage of this typically strong early selling market.

Lamorinda Summer Market Update

Lamorinda Summer Market Update

As the calendar turns to summer it is a good time to take stock and understand how Lamorinda real estate performed over the last year. Below is a summary of Multiple Listing Service (“MLS”) data for Lamorinda residential detached home sales over the last twelve months from July 2016 to June 2017 (the prior-year comparison is from July 2015 to June 2016).