S.F. sees ‘unprecedented’ drop in rent prices

KASA Real Estate Team Rent Price , Rental , Renters & Landlords Leave a Comment

But how long will it last? Zumper, the San Francisco–based apartment-rental site, just released its latest rent figures and, according to CEO Anthemos Georgiades, the “price drops are unprecedented” in the seven-plus years the company has published rent reports. “All this talk of people leaving S.F. for a future of remote work is now backed up by hard data.” Read …

Mortgage rates hit another all-time low as home buyers rush to secure cheap financing

KASA Real Estate Team Home Loan , Mortgage Rates Leave a Comment

Mortgage rates have gotten even more affordable — a boon to the many Americans once again considering buying a home as coronavirus-related stay-at-home orders are lifted across the country. The 30-year fixed-rate mortgage dropped to an average of 3.15% during the week ending May 28, a decrease of nine basis points from the previous week, Freddie Mac FMCC, -1.42% reported Thursday. This represents …

California considers sweeping relief for renters, landlords

KASA Real Estate Team Renters & Landlords Leave a Comment

In two ambitious proposals to help the state recover from the coronavirus, California senate leaders on Tuesday unveiled bold new plans to provide long-term aid for struggling renters and landlords and create a $25 billion economic recovery fund. The housing proposal would allow landlords to receive tax credits for rent payments missed by their tenants, in exchange for promising to …

Mortgage rates almost drop to another record low — here’s why a housing market slowdown won’t push them lower

KASA Real Estate Team Mortgage Rates Leave a Comment

Mortgage rates remained near another record low for the third straight week. If a new low comes, it may not be because the U.S. housing market is struggling. The 30-year fixed-rate mortgage averaged 3.31% during the week ending April 16, representing a decline of two basis points from a week ago, Freddie Mac FMCC, 5.16% reported Thursday. A year ago, the 30-year fixed-rate mortgage …

Mortgage rates could be even lower, but lenders are struggling to keep up with demand

KASA Real Estate Team Mortgage Rates Leave a Comment

A sharp drop in mortgage interest rates has sparked a sudden and unexpected refinance boom that has lenders large and small scrambling to handle the volume. That stress on the lending market, as well as increased risk to mortgage investors from all those refinances, is actually keeping mortgage rates higher than they could be. I have spoken to mortgage brokers …

Here’s what the Fed’s surprise interest rate cut means for mortgage rates

KASA Real Estate Team Mortgage Rates Leave a Comment

The Federal Reserve just cut its benchmark interest rate — but don’t expect lower mortgage rates as a result of the cut because mortgage rates were already falling prior to any action taken by the Fed. And there are some analysts who expect rates to fall even lower possibly as low as 3% for a 30 year fixed mortgage. Read …

Why Does It Cost $750,000 to Build Affordable Housing in San Francisco?

KASA Real Estate Team California Housing Leave a Comment

SAN FRANCISCO — The average home in the United States costs around $240,000. But in San Francisco, the world’s most expensive place for construction, a two-bedroom apartment of what passes for affordable housing costs around $750,000 just to build. Read the full article here: California’s governor vows to tackle the state’s homelessness crisis…    

Statewide rent control measure heading to November ballot

KASA Real Estate Team Rent Control Leave a Comment

The measure would overwrite a 1995 housing law, the Costa-Hawkins Rental Housing Act, that bans local governments from enacting rent control on housing that became first occupied after 1995. The new measure would allow cities to enact rent control on buildings that are at least 15 years old. Read the full article here: Rent control measure…  

How Much Does It Cost to Renovate a House? Bathroom, Kitchen, and Beyond

KASA Real Estate Team Renovation Leave a Comment

Home renovations and remodeling costs may be a hard pill to swallow after shelling out the purchase price of a new home, but if you’re the proud homeowner of a fixer-upper (or even if you’re the proud owner of an older home that needs some work), you may be itching to make some updates. And that will get you wondering: …