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The Rilliet Report January 2016

January 13 2016
January 13 2016

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THE BUZZ

Happy New Year,

Real estate for 2016 is expected to be a positive force for the overall economy. In 2015, the nationwide value of all homes grew by $1.1 trillion. The 2016 estimated total nationwide is $28.5 trillion. The value of the entire housing stock nationwide grew 4.1%.

However, housing value nationwide isn't distributed equally. California is home too about 12% of the U.S. population but accounts for nearly 25% of the total home value. California's market is driven by the high value metropolitan areas of San Francisco and Los Angeles.

An improving job market, still-low interest rates, and some easing in credit requirements for loans are all signs that point to a stronger market in 2016. Still some challenges remain:

Tight inventories push prices up and decrease housing affordability. Appraisal issues of "low" or "late" appraisals can squash pending deals. New mortgage disclosure rules can delay closings and have an impact on sales. All cash buyers have even stronger negotiating power now. Your home remains a major investment in your portfolio. Let's evaluate how to best protect and grow your interests. Happy New Year. May 2016 bring you many blessings.

JUST ASK

Q: Is it better to rent than buy?

A: In most cases, I would say it is better to buy if we can find the right property for you. That said, if you are not planning on living in your area for at least three years, then renting may be a safer bet. That will depend on how home prices increase in value. You may make money by selling in 2-3 years.

Americans spent nearly $20 billion more in rent in 2015 than in 2014. Median monthly rents rose at a record pace. Renters spent more than $535 billion on rent in 2015, nearly as much as the total budget for the Department of Defense according to a Zillow report.

Apartment renters paid $239 billion and single-family home renters paid $245 billion, with approximately two-thirds of the total rent spent in the country's 50 largest metro areas.

Rents are continuing to rise, so before you sign another lease agreement, we should check out the opportunities from buying. Let's talk.

MY TOWN

Integrating the right apps for your lifestyle can add a new dimension to everyday functioning. In the months to come, I would love to hear from you about which apps you use most frequently or which apps you need.

Uber is old news to most of us, but if you don't have the Uber app and need to catch a taxi, it is a must in my book. Go to Uber.com to sign up and get moving in minutes.

Another app that is great for wine aficionados is Vivino. Available on the App Store, Google Play, or Windows, Vivino allows you to take a photo of any wine label and get reviews, ranking, and pricing. You can also add your own reviews and ratings. Some of my friends rely on this app for all their wine purchases.

Have an app you just can't live without? Let me know.

Seriously, please let me know... In this area especially, we have so many startups and life changing apps that can really make a difference in our lives.

FYI

New Year's resolutions. Have you made yours yet? As Mark Twain said, "The secret to getting ahead is getting started. The secret to getting started is breaking your goals into small manageable tasks, and starting with the first one."

Make a list of your goals and then create a simple plan to achieve them. I find it best to trust a few other friends or family to share my goals to be accountable. Getting organized is one of the most important steps. Whether it is committing to a 30 minute walk daily or thanking at least two people a day for their efforts, the time to start is now.

Whether your goal is to research the possibility of a new home, or saying "I love you" to your spouse every day, take one step at a time and see where it may lead.

PERSONAL UPDATE

It's been busy...

Click Links for Property Websites

 

Listed by Sheldon and Lynn Armenio - Alain Pinel Realtor

900 Bush Street Unit 421 San Francisco

SOLD PRICE $875,000

 


Listed by Sheldon / Pending in 9 Days with Multiple Offers

407 Barroilhet Ave - SM Park

SOLD, SOLD SOLD Price $2,100,000

 

 

1711 Eisenhower Street - San Mateo

Sold - List Price $859,000



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