June 2019 Sales Statistics for ALAMEDA COUNTY, CA
(Single-Family Home)- http://rereport.com/alc/
June 2019 Sales Statistics for ALAMEDA COUNTY, CA – SFRs & Condos
(Condos/Town Homes)- http://rereport.com/alc/
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Let me help you navigate the East Bay real estate market!
Visit: www.carlosfcamargo.net | Call: 510.798.5016
#BHGRE #CarlosFCamargoPhD #RealEstate #RealEstateAgent#RealEstateBroker #RealEstateLife #NoPlaceLikeHome_EastBay#OaklandCA #Realtor #RealEstateForSale #RealEstateExpert #Broker#HomeForSale #HouseForSale #PropertyForSale #realestatemarket#HouseHunting #ExpectBetter #BHGRealEstate #bayarea#BHGReliancePartners #contracostacounty #alamedacounty#reliancepartnersbhgre #RealEstateLifeStyle #RealEstateTips
December 2018 County Sales and Price Activity
California home sales close year on downward trend as home prices post mild gains, C.A.R. reports
Market Shifting….But Don’t Panic!
Over the past 5 months, the evidence for a shift in the market has mounted. Sales are on the decline, with September 2018 falling by the largest margin since March of 2014. Homes are staying on the market longer as the median number of days on market has risen to 23. Sellers are beginning to have to discount their properties again, with a median sales-to-list price of 98.5% and 42% of active listings having some form of a price reduction. Inventory was also up more than 20% last month, to the highest level in more than two years. As a result, price growth has slowed to just 4.2% in September—a marked deceleration from the 8-9% that prevailed during the first half of 2018.
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COUNTY RESIDENTIAL REAL ESTATE MARKET UPDATE – DECEMBER 2017 STATS FROM C.A.R.
December 2017 County Sales and Price Activity
(Regional and condo sales data not seasonally adjusted)
– Amid the lowest housing inventory levels in more than 13 years, existing home sales still eked out a year-over-year gain, while the median sales price posted a solid annual increase:
– California home price closes year on high note as sales moderate in December; housing market posts solid performance in 2017, C.A.R. reports
– Existing, single-family home sales totaled 420,960 in December on a seasonally adjusted annualized rate, down 4.4 percent from November and up 1.4 percent from December 2016.
– December’s statewide median home price was $549,560, up 0.5 percent from November and up 7.6 percent from December 2016.
– Housing inventory hit the lowest level observed in 13 years, with the unsold inventory index falling to 2.5 months in December.
Monthly Stats from C.A.R.
Median sales price: $862,000
Unsold inventory: 1 month
Days on Market: 13 days
CONTRA COSTA COUNTY
Median sales price: $600,000
Unsold inventory: 1.4 month
Days on Market: 16 days
San Francisco County
Median sales price: $1,475,000
Unsold inventory: 1 month
Days on Market: 18 days
Santa Clara County
Median sales price: $1,300,000
Unsold inventory: .9 month (27 days)
Days on Market: 9 days
C.A.R. Opposes Measure to Expand Rent Control
The California Association of Realtors (C.A.R.) opposes AB 1506 (Bloom, Bonta and Chiu), which repeals C.A.R.’s co-sponsored Costa-Hawkins Rental Housing Act in its entirety. Costa-Hawkins was enacted in 1995 in response to unchecked local rent control ordinances. Costa-Hawkins places limits on how and when local governments may impose rent control ordinances and specifically prohibits rent control from being placed on condos and single-family homes. AB 1506 would allow rent control to be enacted without limitation, discouraging the creation of rental housing and impairing housing affordability. AB 1506 will be considered by the Assembly Housing and Community Development Committee on Thursday, January 11th.
Costa-Hawkins gives landlords the authority to establish initial rent upon a unit’s voluntary vacancy by the prior tenant, exempts single-family homes and condos, and prohibits rent control on all new construction. If Costa-Hawkins is repealed, cities and counties in California could adopt rent control measures without limitation.
History has demonstrated that rent control does more harm than good. Affordability in rent control municipalities such as Berkeley, San Francisco and Los Angeles has not improved. In fact, affordability is worse in these jurisdictions, and the lack of supply is clearly the driving force behind why rental housing prices continue to climb. AB 1506 would be devastating to California’s ongoing housing crisis and would have very serious and harmful consequences to our economy.
C.A.R. OPPOSES AB 1506 BECAUSE:
- It Repeals the Rent Control Exemption for Single-Family Homes and Condos – AB 1506 would expand rent control to single-family homes and condominiums, discouraging rental property owners from continuing to offer properties for rent.
- It Discourages New Housing Construction – New housing development would come to a standstill. In a recent report, the Legislative Analyst concluded that “rent control will do nothing to increase our supply of affordable housing and, in fact, likely would discourage new construction.”
- It Targets Family Owned-and-Operated Small Businesses – The majority of California’s rental units are located within small properties (16 units or less) and are owned by “mom and pop” landlords who depend on these properties for their retirement.
- It Provides NIMBYs a New Tool – AB 1506 is a dream come true for NIMBY (Not In My Backyard) advocates, who want to stop new housing development in California. In fact, one of the same proponents of the prospective companion ballot measure also sponsored a Los Angeles ballot measure last year to stop ALL housing construction in the city.
- It Hurts Low-Income Individuals & Families – Rent-controlled units are NOT means tested. Numerous studies have shown that, while rent control seeks to help low-income tenants, gentrification in strict rent control cities occurs, resulting in more renters with higher incomes after the implementation of these ordinances. According to the Legislative Analyst, rent control would continue to “benefit the more affluent renters.”
- It Lowers the Number of Available Rental Units – Not only would AB 1506 halt new housing construction, it would also result in a loss of rental units throughout the State. Cities with stringent forms of rent control, such as San Francisco and Santa Monica, have lost large numbers of rental units because of rent control. Rental property owners convert their housing to another use – owner-occupied, tenancies in common – or keep their units off the market altogether.
For a contrarian view please visit:
Can A Repeal Initiative Win?
Let’s assume Tom Steyer was willing to put $25 million dollars into a repeal initiative for the 2018 or 2020 ballot. Or some other donor lacking the baggage of Michael Weinstein. Let’s also assume that the coalition to pass it was led by state and local labor officials, housing groups, and a broad progressive constituency.
Could such a measure win?
The final two of my five rules for winning measures are “Keep it Simple” and “Appeal to Voters’ Self-Interest.” A strict repeal measure, which is what ACCE has submitted, meets the simplicity test. The real question, as it is for most measures, is whether Costa-Hawkins repeal serves the self-interest of a significant portion of the electorate.
A majority of California’s electorate in November 2018 or 2020 will not be covered by rent control. This includes the vast majority of homeowners (some are also landlords) and a sizable minority if not majority of tenants.
Under a best case scenario, Costa-Hawkins repeal wins 65-35 in San Francisco, Berkeley, West Hollywood, Santa Monica, Richmond and Oakland. It goes 55-45 in Los Angeles city, San Jose and Mountain View. These are all rent control jurisdictions where tenants will benefit from repeal.
But San Diego is not passing repeal. The Central Valley? Good luck. Sacramento may have a local rent control measure on the 2018 or 2020 ballot, so repeal could win there. Rural California will go against repeal in droves. As will be the result in all the parts of the state where there is little tenant activism but plenty of realtors and landlords.
Costa-Hawkins is so lucrative for landlords that I could easily see $100 million poured into the anti-repeal campaign. Money will come in from around the world to preserve California’s high rents.
N.A.R. Update 2018: The Tax Cuts and Jobs Act – What it Means for Homeowners and Real Estate Professionals