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Market Update What to Expect in 2024 I anticipate our local real estate market will be in flux in 2024 for the following reasons: Interest Rate Reduction: I foresee interest rates adjusting downward this year, likely prompting increased buyer activity. With rates becoming more favorable, expect a surge in home sales across all price brackets. Buyers are adapting to the notion that […]
Market Update Looking Back at 2023 & Looking Ahead to 2024 Looking back there were four major economic events that defined the real estate market in 2023. FLUCTUATING INTEREST RATES: he trajectory of interest rates defined much of 2023’s real estate landscape. Beginning the year around the mid-6% range, mortgage rates fluctuated between 6% and 7.30% in the initial months. However, from mid-May to mid-October, there […]
Local News Polls Show Close Race for Congress As we quickly march closer to Election Day on March 5, the race to succeed U.S. Representative Anna Eshoo is becoming tighter. A recent poll by San Jose Spotlight showed former San Jose Mayor Sam Liccardo capturing the preferences of 16% of likely voters in the district. Supervisor Joe Simitian was preferred by 13.3%, Rish Kumar was […]
Local News Government Affairs Palo Alto Seeks to Raise Utility Rates In order to improve infrastructure and increase services Palo Alto is proposing to increase the average residential utility bill to $400 a month. Typically, residents pay around $370 currently but rising costs of water, 100-year-old infrastructure, and a number of other needs are putting upward pressure on rates. Last week the Palo Alto City Council’s […]
Market Update Market Update After a dip in rates spurred a boost to housing in January, the recent increase back above 7% demonstrates that the rebound will be bumpy as pending sales cooled. Still, all signs indicate that buyers have begun to adjust to more normal rates than we enjoyed during the pandemic as several key indicators of market […]
Market Update Market Update The housing market had a tough year in 2023 as tight supply and high costs of borrowing continued to have a negative impact on supply and demand. Easing inflationary pressure and a soft economic outlook, however, suggest that there will be some interest rate cuts on the horizon in 2024, which bode well for a […]
Quarterly Market Update Q3 2023 Market Update | Santa Clara & San Mateo Counties As news headlines raise questions, I am happy to provide you with real-time information and answer all of your real estate questions. Feel free to contact me today! • • • Selena Young | Realtor DRE# 02073411 Coldwell Banker Realty
Market Update Market Update Mortgage rates continue their upward climb as daily rates top 8% several times over the past week. This comes as the bond market continues to price in “higher-for-longer” and rates for 10-year notes are quickly approaching 5% after remaining relatively flat through the first half of this year. Despite this, consumers remain a driving force […]
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Market Update Market Update The sharp increase in mortgage rates in the past month was due primarily to the Fed’s announcement at their latest FOMC meeting that rates will be kept “higher for longer”, which dashed market participants’ hope for more significant rate cuts in 2024. Despite the initial increase, rates have shown improvements last week as several Fed’s […]
Market Update Market Update Buyers and sellers’ sentiments remained virtually unchanged in August as housing market participants wait for more signals on what the Fed’s next move will be in the upcoming FOMC meeting. With the economy looking stronger than what was anticipated six months ago, interest rates will remain elevated for a little longer. Consumers could be tapped […]
Local News Mountain View Moves Forward with Revenue Measures Government Affairs Mountain View Moves Forward with Revenue Measures At a recent study session, the Mountain View City Council agreed that while the budget is secure, the city lacks funding to address critical infrastructure needs. One of those critical needs is the $160 million estimated for a new public safety building. There are also needs […]
Market Update Market Update Rates have risen sharply in the past few weeks, but the housing market has weathered this rise relatively well. Although the primary measures of mortgage demand show that homebuyers remain affected by higher rates, the gap between 2022 and 2023 levels has yet to widen noticeably. In addition, rates have begun to inch down slightly […]
Market Update Market Update Housing affordability remained an issue in the second quarter and the problem will persist in the second half of the year as rates continue to stay high. Despite inflation easing closer to 3% in the last couple months, rates have been climbing further in the last two weeks as food and energy prices are expected […]
Market Update Market Update Mortgage rates stay close to their recent high nearly two weeks after the Fed announced another rate hike in late July. Elevated rates have been affecting buyers and sellers’ sentiment and the market will continue to observe low sales in July and August as a result. While the labor market is easing, wages continue to […]
Quarterly Market Update Q2 2023 Market Update | Santa Clara & San Mateo Counties The Quarterly Report offers insight into residential real estate sales activity and regional trends. If you are interested in receiving more information on your local market, please let me know. I would be happy to send you those reports! • • • Selena Young | Realtor DRE# 02073411 Coldwell Banker Realty
Recent Sales Closed | 1425 45th Ave. #2, Capitola Buyer Co-Represented with @realtortowatch What a whirlwind! Jasmine and I got a call from a friend of ours, letting us know that their cousin had just toured a property in Capitola and was ready to make an offer but needed an agent. Within a matter of minutes we were on the phone with our future client […]
Market Update Market Update 7.25.23 June home sales came in below the 300,000-benchmark for the ninth consecutive month, as rates remained elevated in the past couple of months. The year-over-year decline, however, moderated further with the annual dip dropping below 20% for the first time in 12 months. Meanwhile, the statewide median price remained above $800,000 for the third straight […]
Uncategorized 🌞 Embrace the Summer Vibes: Top Interior Design Trends for 2023 ☀️ 🌞 Embrace the Summer Vibes: Top Interior Design Trends for 2023 ☀️ As the sun-drenched season approaches, homeowners and design enthusiasts are seeking captivating ideas to revamp their living spaces. Get ready to transform your home into a haven with these sensational interior design trends of 2023. From vibrant hues and mesmerizing patterns to eco-friendly […]
Market Update Market Update Week June 19th, 2023 The Federal Reserve met last week and decided to pause rate hikes in their latest FOMC meeting.  While the Committee held the fed funds rate steady this time around, Fed Chairman Powell suggested that they are prepared to raise rates a couple more times, or another 50 bps, this year to tame stubborn inflation. Next […]
Advice for Buyers Why Buyers Need an Expert Agent by Their Side   The process of buying a home can feel a bit intimidating, even under normal circumstances. But today’s market is still anything but normal. There continues to be a very limited number of homes for sale, and that’s creating bidding wars and driving home prices back up as buyers compete over the available homes. Navigating all of this can be […]

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