Pacific Union and Empire Realty Associates Are Now the No. 1 Luxury Brokerage in Contra Costa County

  Executive Summary: Pacific Union and Empire Realty Associates now rank as the second-largest residential real estate brokerage in Contra Costa County, with combined market share of 11 percent and sales volume of more than $1.11 billion in 2017. Pacific Union acquired Empire Realty Associates in October. Pacific Union and ERA grew sales volume by 38 percent for the last 12 months year over y...

Pacific Union’s October 2017 Real Estate Update

The median sales price rose year over year in October in all Bay Area regions in which Pacific Union operates, the result of continued buyer demand amid tight supply conditions. Prices reached one-year highs for single-family homes and condominiums in San Francisco, as well as for properties in Sonoma County. Click on the image accompanying each of our regions below for an expanded look at loc...

First-Time and Bay Area Homebuyers Have Much to Lose From Proposed Tax Changes

Executive Summary: Proposed tax changes that impact individual ownership of real estate include: Eliminating deductions for state and local income taxes Lowering the cap on mortgage interest deductions on newly issued loans totaling no more than $500,000, down from the current $1 million Ending deductions on second homes or vacation homes A new cap of $10,000 on property tax deductions Limi...

Silicon Valley Posts Nation’s Largest Annual Home Price Gain

Home prices rose in 92 percent of U.S. metro areas in the third quarter, averaging 5.3 percent on an annual basis. San Jose and San Francisco were among the 19 metropolitan areas to see double-digit percent home price gains, a respective 16.5 percent and 10.2 percent. Job growth in expensive regions of the country like the Bay Area may began to slow without an increase in housing inventory....

Real Estate Roundup: East Bay City Named One of the Nation’s Most Livable

Here’s a look at recent news of interest to homebuyers, home sellers, and the home-curious. FREMONT RANKED AS AMERICA’S SECOND MOST LIVABLE CITY Fremont was recently named the least stressed-out place in America, and now another study calls the Alameda County city one of the country’s most livable. That’s according to an analysis by SmartAsset, which ranks the nation’s...

U.S. Median Home Price Again Hits New High

The median sales price for a U.S. home rose to $248,000 in the third quarter, another record high. San Jose and San Francisco home sellers reaped the largest profits for the third straight quarter, a respective 80 percent and 71 percent. San Jose had the nation’s fewest distressed sales in the third quarter, with such transactions accounting for 3.1 percent of activity. The national me...

U.S. Homeownership Rate Inches Up

The U.S. homeownership rate ended the third quarter at 63.9 percent, still less than its historic norm of 65 percent. The West has the nation’s lowest homeownership rate of 58.9 percent. Homeownership rates range from 35.6 percent for millennials to 78.9 percent for older baby boomers. The national homeownership rate improved slightly in the third quarter, but remains below its long-te...

Challenging Market Conditions Hold Back First-Time Homebuyer Activity

First-time homebuyers have been responsible for 34 percent of activity over the past year, down from 35 percent the previous year. More than 40 percent of first-time buyers have student loans, which average $29,000. First-time buyers made average down payments of 5 percent over the past year, compared with 6 percent the previous year. Although mortgage rates remain favorable and the U.S. job...

How Can You Help the Wine Country Recover? Come Visit.

As we slowly begin to recover from the tragedy of the wildfires that struck our North Bay communities, we want to take a moment to reflect on how the community pulled together and how average citizens can help the region’s economy get back on track. Over the weeks that the fires raged in our beautiful Wine Country, the unbelievable sacrifice of the first responders — firefighters,...