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Concord Real Estate News (December 14, 2017)

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Concord Real Estate News (December 14, 2017)

Is there a housing bubble in sight? Apparently economists don’t think so. Read more and explore other predictions for 2018. A Proposition 13 ballot proposal could give older people a tax break. This could potentially get more homes on the market. Plus, check out last week’s home sale prices in Contra Costa County. Finally, explore an extra “how to” article with tips on updating a popcorn ceiling. These are some of the latest Concord real estate news headlines.

No housing bubble in sight — and other predictions for 2018

A real-estate site’s predictions for 2018 offer yet more disappointing news for would-be first-time home buyers in California hoping that the New Year might bring some relief.

“The outlook for next year is rising prices, rising rates and rising property taxes,” said Redfin’s chief economist, Nela Richardson. “I wish I could have better news.” Read More…

Giving Grandma a tax break to get more homes on the market: realtors’ Prop. 13 ballot proposal

The proposal from the California Association of Realtors would expand Proposition 13, the landmark constitutional amendment passed by voters in 1978 that has kept homeowners’ property taxes artificially low over the years, even as their home values have doubled or even quadrupled. Under the initiative, homeowners who are over 55 or severely disabled would be able to keep those lower tax obligations for life, regardless of how many times they move, as long as they stay in California. Read More…

Home sale prices from Contra Costa County, as of Dec. 8

Home sales may have slowed for the holiday season but they sure aren’t stopping. Check out how much homes have been selling this past week in Contra Costa County. Click Here

Methods and costs of updating a popcorn ceiling

A popcorn ceiling, otherwise known as an acoustic ceiling, is a ceiling that’s been sprayed with a textured coating. A popular design element between the 1950s and the 1980s, the texture is useful for hiding imperfections but is now considered outdated… Popcorn ceilings are not only behind the times, but they’re also difficult to repair and clean. What’s more, they may deter potential buyers if and when the time comes to sell your home. There’s also a chance that your popcorn ceiling may contain asbestos. Read More…

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach Peter Maclennan please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest homes for sale in Concord by map (click the map below):

homes for sale in concord ca
Concord CA Real Estate Map Search

2017 Dana Estates Christmas Lights Contest

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Dana Estates Christmas Lights Contest

Merry Christmas!

I am going to be sponsoring a Christmas Lights Contest for Dana Estates Residents. If you live in Dana Estates, I want to encourage Christmas spirit and invite you to participate in decorating your home. Official Rules are below.

I will be giving away a $100.00 gift card to Home Depot­® to the winner with the best light display in Dana Estates (map). Please enter your name, email and address below to enter. If selected as a finalist, your fellow Dana Estate residents will have the opportunity to vote for their favorite display.

Contest Entry Form

all fields required


We hate spam, too. We will never rent or sell your information.

Official Rules

NO PURCHASE NECESSARY. ALL FEDERAL, STATE, LOCAL, AND MUNICIPAL LAWS APPLY. VOID WHERE PROHIBITED BY LAW.

  • Eligibility. Open to U.S. residents over 18 years of age that live in Dana Estates Neighborhood (see map) of Concord, CA. Employees of Maclennan Investment Group, Inc. their parents, subsidiaries, affiliates, immediate family members, and members of their household are not eligible.

    map of dana estates neighborhood in Concord, CA
    Map of Dana Estates
  • Sponsor. The contest is sponsored by Maclennan Investment Group, Inc. whose mailing address is PO Box 2564, Walnut Creek, CA 94595 and phone number is 925.385.8798.
  • Contest Period. The Contest begins on 12/5/2017 and will be closed to new entries at 11:59pm on 12/19/2017. Entries submitted after the Contest Period will be disqualified.
  • Agreement to Official Rules. By participating, Participants are agreeing to being bound by these Official Rules and the decisions of the Sponsor.
  • How to Enter. Participants may enter by completing entry form at http://www.sellingdanaestates.com/2017/12/2017-dana-estates-christmas-lights-contest/. Limited to one entry per household.
  • Prize Award. Entries will be pared down to a top 3 finalists at Sponsor’s discretion. The Grand Prize winner will be determined by votes received from the general public for the best decorated home as determined by voters. In the event of a tie, the Sponsor will cast the deciding vote. The Sponsor will attempt to notify the winner via telephone or email on or about December 28, 2017.
  • Prizes. Grand Prize (1) – Gift card valued at $100.00 for Home Depot® will be awarded to the home that receives the most votes.
  • Odds of Winning. The number of eligible entries received determines the odds of winning.
  • General Conditions. In the event the Contest is impaired in any way or in the even the Contest is unable to run as planned for any reason, the Sponsor may, in its sole discretion, (a) suspend the Contest or (b) terminate the Contest and award the prize at random from among the entries.
  • Rights Granted by you: By entering this content you understand that Maclennan Investment Group, Inc., anyone acting on behalf of Maclennan Investment Group, Inc., or its respective licensees, successors and assigns will have the right, where permitted by law, without any further notice, review or consent to print, publish, broadcast, distribute, and use, worldwide in any media now known or hereafter in perpetuity and throughout the World, your entry, including, without limitation, the entry and winner’s name, portrait, picture, voice, likeness, image or statements about the Sweepstakes, and biographical information as news, publicity or information and for trade, advertising, public relations and promotional purposes without any further compensation.
  • Disputes. Any and all disputes will be resolved in accordance with California law.

Dana Estates Real Estate | Home Prices Up 7% from Last Year

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Home Prices Up 7% from Last Year | SellingDanaEstates.com

Dana Estates Real Estate | Home Prices Up 7% from Last Year

The Dana Estates real estate market in Concord, California is still very active. Reasonable sellers are receiving offers quickly and buyer confidence remains strong. There are multiple price points and types of houses available in Concord, CA.

Particularly around the Dana Estates neighborhood 94519 zip code, homes are in demand. The neighborhood provides convenient access to Highway 4 and to downtown Concord. It is also about equal distance from both the Concord BART station and the North Concord BART station.

Purchasing a home is one of the largest financial decisions that a family can make. Because of the size of the transaction, there are many complicated decisions that surround the purchase of a home.

Today we are going to talk about: Home Prices. They’re up 7% from Last year.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase.

A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand.

CoreLogic’s Chief Economist Frank Nothaft elaborated on the significance of such a large year-over-year gain, 

“Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014.

This escalation in home prices reflects both the acute lack of supply and the strengthening economy.”

This is great news for homeowners who have gained over $13,000 in equity in their home over the last year! Those homeowners who had been on the fence as to whether or not to sell will be pleasantly surprised to find out that they now have an even larger profit to help cover a down payment on their dream home.

CoreLogic’s President & CEO Frank Martell had this to say,

“The acceleration in home prices is good news for both homeowners and the economy because it leads to higher home equity balances that support consumer spending and is a cushion against mortgage risk. However, for entry-level renters and first-time homebuyers, it leads to tougher affordability challenges.”

Any time the price of a home goes up there will likely be concern about the affordability of that home, but there is good news. Mortgage interest rates remain at historic lows, allowing buyers to enter the housing market and lock in a low monthly housing cost.

Rents Are Also Rising

The report went on to mention that over the same 12-month period, median rental prices for a single-family home have also risen by 4.2%.

With rents and home prices rising at the same time, first-time buyers may find the task of saving for a down payment a little daunting. Low down payment programs are available and have been a very popular option for first-time buyers. The median down payment for first-time buyers in 2017 was only 5%! 

Bottom Line

If you are looking to enter the housing market, as either a buyer or a seller, let’s get together to go over exactly what’s going on in our neighborhood and discuss your options!

Source… KCM Peter Maclennan Blog

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest real estate listings in Concord, CA by map (click the map below):

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Concord CA Real Estate Map Search

Concord Real Estate News (December 7, 2017) | Dana Estates Real Estate

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Concord Real Estate December 7 2017

Concord Real Estate News (December 7, 2017)

Here are some of the latest Concord real estate news headlines. During this past month, house prices shot up again. If you’re a renter, check out some of the cheapest apartment rentals in Concord. Speaking of rent, Concord’s new ordinance get’s its first test as a dispute has arisen over a rent hike. Also, check out what it would take to bring a University to Concord, and finally, discover the local happenings this holiday season.

The cheapest apartment rentals in Concord, explored

If you’re apartment hunting, you know how hard it can be to find a good deal. So what does the low-end rent on a rental in Concord look like these days and what might you get for the price?

We took a look at local listings for studios and 1-bedroom apartments in Concord via rental site Zumper to find out what budget-minded apartment seekers can expect to find around the Town.

Take a look at some of the cheapest listings available right now: Read More…

What will it take to bring a university to Concord?

CONCORD — The city plans to develop a long-term strategy to attract a four-year university to the former Concord Naval Weapons Station.

Contra Costa is the only county in the state with a population of at least 1 million that does not have a Cal State or a UC campus. Consequently, many high school graduates leave home or commute to another county to pursue a bachelor’s degree, creating what assistant city manager Kathleen Trepa called a “brain drain.” Read More…

In dispute over $275 rent hike, Concord ordinance gets first test

CONCORD — The panel that hears disputes over proposed rent increases will hold its first public hearing Wednesday, Dec. 6…

In July, Walnut Creek-based Key Property Management notified a tenant of 1491 Bassett Drive, a 10-unit apartment complex, that it was raising the rent for his two-bedroom apartment by $275 per month, bringing it to $1,600 — a 21 percent increase.

Under the residential rent review program Concord adopted in May, tenants of all buildings with three or more units who receive a rent increase of more than 10 percent in a 12-month period may seek mediation. Read More…

Bay Area housing: Sales dwindled in October and prices shot up — yet again

Reflecting the chronically tight supply of available homes, Bay Area housing sales fell in October from a year earlier as prices marched up across the nine counties by nearly 11 percent. The region’s median sale price of a single-family home was $800,000 and surpassed $1 million in four of its counties. Read More…

Local Happenings: Concord, Clayton, Pleasant Hill, Martinez Dec. 8 and beyond

Discover all the many events happening this holiday season from ice skating and Christmas carols to events and more! Click Here for a complete list.

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach Peter Maclennan please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest listings in Concord by map (click the map below):

concord california map
Concord CA Real Estate Map Search

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | Concord CA Real Estate

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Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | Concord CA Real EstateBubble Alert! Is it Getting Too Easy to Get a Mortgage?

The Concord CA real estate market is still very active. Reasonable sellers are receiving offers quickly and buyer confidence remains strong. There are multiple price points and types of houses available in Concord, CA.

Particularly around the Dana Estates neighborhood 94519 zip code, homes are in demand. The neighborhood provides convenient access to Highway 4 and to downtown Concord. It is also about equal distance from both the Concord BART station and the North Concord BART station.

Purchasing a home is one of the largest financial decisions that a family can make. Because of the size of the transaction, there are many complicated decisions that surround the purchase of a home.

Today we are going to talk about: Is it Getting Too Easy to Get a Mortgage?

There is little doubt that it is easier to get a home mortgage today than it was last year. The Mortgage Credit Availability Index (MCAI), published by the Mortgage Bankers Association, shows that mortgage credit has become more available in each of the last several years. In fact, in just the last year:

  • More buyers are putting less than 20% down to purchase a home
  • The average credit score on closed mortgages is lower
  • More low-down-payment programs have been introduced

This has some people worrying that we are returning to the lax lending standards which led to the boom and bust that real estate experienced ten years ago. Let’s alleviate some of that concern.

The graph below shows the MCAI going back to the boom years of 2004-2005. The higher the graph line, the easier it was to get a mortgage.

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | Simplifying The Market

 

As you can see, lending standards were much more lenient from 2004 to 2007. Though it has gradually become easier to get a mortgage since 2011, we are nowhere near the lenient standards during the boom.

The Urban Institute also publishes a Home Credit Availability Index (HCAI). According to the Institute, the HCAI:

“Measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates … it is easier to get a loan.”

Here is a graph showing their findings:

Bubble Alert! Is it Getting Too Easy to Get a Mortgage? | Simplifying The Market

Again, today’s lending standards are nowhere near the levels of the boom years. As a matter of fact, they are more stringent than they were even before the boom.

Bottom Line

It is getting easier to gain financing for a home purchase. However, we are not seeing the irresponsible lending that caused the housing crisis.

Source… Peter Maclennan KCM Blog

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach us please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest real estate listings in Concord, CA by map (click the map below):

concord california real estate search by map
Concord CA Real Estate Map Search

Concord Real Estate News (December 1, 2017) | Dana Estates Real Estate

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Concord Real Estate News (December 1, 2017) | Dana Estates Real Estate

Here are some of the latest Concord real estate news headlines. East bay apartment construction increases but delays have slowed things down. Bart is considering partnering with the city to turn a 9 acre piece of land it owns into new affordable rental housing. Finally, check out where Bay Area rents jumped the most over this last year.

East Bay apartment construction surges, but delays also common

Bay Area apartment construction has shifted to the East Bay from Silicon Valley, but delays have slowed the opening of new rentals in the sizzling market, according to a new study.

Analysts estimate about 20 percent of the new Bay Area apartments have been delayed, which could drive up construction and ultimately rental prices. Real estate analysts at Axiometrics figure at least 1,200 units expected to open this year will not reach the market until 2018. Read More…

BART, Concord eye vacant site for affordable housing

CONCORD — BART may partner with the city to bring much-needed affordable rental housing to a vacant property a few blocks from the downtown station.

The transit agency owns a 9-acre parcel between Monument Boulevard and San Miguel Road that sits just south of the Concord skate park. Although a canal runs through the property, city staffers believe at least part of it could be developed. Read More… 

Here’s where Bay Area rents jumped the most over the past year

Online real estate company Zumper’s snapshot of the region’s real estate market reveals some surprising statistics about the areas seeing the highest rent increases. Read More…

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and insure you make the best possible decisions. We are dedicated to keeping on top of the real estate market and keeping you informed of changes. You can rest easily knowing you made a well-informed decision based on experience and insight into the Concord California market.

To reach Peter Maclennan please call 925.385.8798 or email us at peter@maclennaninvestments.com.

Search for the newest listings in Concord by map (click the map below):

concord california map
Concord CA Real Estate Map Search

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