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Concord Real Estate News – August 22, 2018

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concord real estate news for 08/21/2018

News Related to Concord Real Estate

Developers Sue the U.S. Navy over Naval Weapons Station

Well this is interesting. According to the SF Business Times, the U.S. Navy, current owner of the Concord Naval Weapons Station, is being sued by multiple developers on the grounds that they violated the Environmental Protection Act.

A group of developers and property owners filed a lawsuit to challenge the U.S. Navy’s environmental clearance to transfer nearly 5,000 acres of land at the former Concord Naval Weapons Station.

San Francisco Business Times

Homeowners with Lots of Equity

The Sacramento Bee reports that California homeowners have lots of equity in their homes because of the recent growth in prices. 

Boosted by soaring home prices, California homeowners are now sitting on the richest vein of home equity in the nation, hundreds of thousands of dollars per home in most cases, an analysis shows.

The Sacramento Bee

Home Remodeling is up 30% in 5 Years

According to a HousingWire.com article remodeling has surged 30% in the last 5 years. 

Home remodeling continues to increase in frequency as more Baby Boomers are electing to age in place and even Gen Xers opt to improve their current homes rather than trading up to newer ones.

HousingWire.com

Having a knowledgeable and experienced real estate broker on your side helps protect your interests and ensure 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 at peter@maclennaninvestments.com.

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

Concord District Elections

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The first elections after Concord was forced to convert to district voting instead of citywide voting is coming up. The Dana Estates Neighborhood is located in Concord’s District 1. According to the Concord Pioneer, there will be three candidates running for the District 1 Council seat.

The issue of city council is important as much of the Concord Naval Weapons Station and the Reuse Plan falls within the borders of district 1.

Residents of Dana Estates will need to have a city council member that understands the concerns of Dana Estates, but that can also make a difference on those issues with their vote.  Read more about the candidates via the Pioneer below.

2018 Dana Estates Garage Sale This Saturday August 11th

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Garage sale sign on chair

The Dana Estates Neighborhood Garage Sale is this Saturday August 11th. Almost 70 homes are participating in the sale. The sale starts at 8am and ends at 2pm. The Dana Estates Neighborhood is located between Concord Blvd and Willow Pass Dr. in Concord. It is bisected by Landana Dr.

Maps for the Garage Sale will be available on the morning of the event at the Dana Plaza parking lot near Mulberry Drive in Concord.

Here is a sample of some of the items for sale:

  • Household items; Kids toys; Furniture; Clothes; Garden equipment
  • furniture, baby items, misc
  • children’s clothing and shoes, mostly for boys, children’s books and toys, women’s clothing sizes 6-14, purses and shoes, trinkets, snowboard and boots, musical instruments, picture frames, knitting/crocheting items and other household items.
  • electronics, cameras, quilts
  • new bbq in box, clothes, household items, misc
  • dvd, games, household items, furniture, clothes, books, toys
  • kids stuff, art pieces, handtools, mama-san aprons, costume jewelry
  • complete set of dishes for 6, 2 metal file cabinets- 4 drawers, porcelain and metal bells, suitcase, jewelry, old stamp collection, 1847 Rogers Silver Plate silverware in original box for 6
  • toddler and kid toys, large corner crate and barrel media console, rocking chair with foot glider
  • patio furniture, dishes and kitchenware, home décor stuff, sporting equip including a couple sets of golf clubs
  • Jewelry, new & used clothes, household items, purses, yard items
  • small room decor, glassware, furniture including dining table with rolling chairs, books, hand made afgans, art work
  • cherrywood jewelry armoire, pine bedroom set for girl’s room (desk, armoire, night stand, headboard) heavy oak bedroom set for boy’s room (dresser with mirror, desk with chair and bookcase, bedframe with headboard) large seascape, kitchen table with four chairs, Warhammer items,
  • bike, bike rack, treadmill, camping equipment, golf clubs, weights, pull rite 5th wheel trailer hitch, scrapbook supplies and more
  • pedestal kitchen table with 24″ leaf, 2 arm chairs, & 4 side chairs; maple end table, lamps, dishes, bric-a-brac; model cars; cherry twin bed frame
    household items and indoor and outdoor furniture
  • Ladies Clothes, knicknacks
  • Baby items (rock n play, sit me up, etc), household items
  • Piano, desk, comics, etc
  • Small refrigerator, floor lamps, musical instruments. Other cool stuff!
  • Kids toys, clothes, shoes, bicycles, scooters, misc. house stuff,
  • Furniture, adult clothing and tons of household goods! Dept 56 houses & Dept 56 accessories, picture frames, lg rabbit case 4ft long

This sale is one day only from 8am to 2pm in Dana Estates.

map of dana estates neighborhood in Concord, CA

Getting Pre-Approved Should Always Be Your First Step

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first steps real estateThe Concord real estate market is still very active, especially Dana Estates real estate. 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: Getting Pre-Approved Should Always Be Your First Step

In many markets across the country, the number of buyers searching for their dream homes greatly outnumbers the number of homes for sale. This has led to a competitive marketplace where buyers often need to stand out. One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search.

Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing if your dream home is within your reach.

Freddie Mac lays out the advantages of pre-approval in the ‘My Home’ section of their website:

“It’s highly recommended that you work with your lender to get pre-approved before you begin house hunting. Pre-approval will tell you how much home you can afford and can help you move faster, and with greater confidence, in competitive markets.”

One of the many advantages of working with a local real estate professional is that many have relationships with lenders who will be able to help you with this process. Once you have selected a lender, you will need to fill out their loan application and provide them with important information regarding “your credit, debt, work history, down payment and residential history.”

Freddie Mac describes the ‘4 Cs’ that help determine the amount you will be qualified to borrow:

  1. Capacity: Your current and future ability to make your payments
  2. Capital or cash reserves: The money, savings, and investments you have that can be sold quickly for cash
  3. Collateral: The home, or type of home, that you would like to purchase
  4. Credit: Your history of paying bills and other debts on time

Getting pre-approved is one of many steps that will show home sellers that you are serious about buying, and it often helps speed up the process once your offer has been accepted.

Bottom Line

Many potential home buyers overestimate the down payment and credit scores needed to qualify for a mortgage today. If you are ready and willing to buy, you may be pleasantly surprised at your ability to do so.

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):

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

House Prices: Simply a Matter of Supply & Demand

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Home Prices Low Inventory

As the largest city in Contra Costa County, there are many Concord homes for sale, particularly in the zip code 94519. Concord offers accessibility and a measure of affordability when compared to its pricier neighbors of Pleasant Hill, Walnut Creek, and Clayton.

Neighborhoods within the 94519 zip code include:

  • Dana Estates
  • Monte Gardens
  • Holbrook Heights
  • Wren Avenue
  • El Monte
  • San Vincente

These Concord neighborhoods offer proximity to Todos Santos Plaza and the downtown Concord BART station. As well, they provide access via Willow Pass Rd. to Highway 4.

Today, let’s talk about: House Prices: Simply a Matter of Supply & Demand

Why are home prices still rising? It is a simple answer. There are more purchasers in the market right now than there are available homes for them to buy. This is an example of the theory of “supply and demand” which is defined as:

“the amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.”

When demand exceeds supply, prices go up. This is currently happening in the residential real estate market.

Here are the numbers for supply and demand as compared to last year for the last three months (March numbers are not yet available):

House Prices: Simply a Matter of Supply & Demand | Simplifying The Market

In each of the last three months, demand (buyer traffic) has increased as compared to last year while supply (number of available listings) has decreased. If this situation persists, home values will continue to increase.

Bottom Line

The reason home prices are still rising is because there are many purchasers looking to buy, but very few homeowners ready to sell. This imbalance is the reason prices will remain on the uptick.

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 homes for sale in Concord, CA by map (click the map below):

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

It’s Tax Season… Use Your Refund to Jump Start Your Down Payment Savings!

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As the largest city in Contra Costa County, there are many Concord homes for sale, particularly in the zip code 94519. Concord offers accessibility and a measure of affordability when compared to its pricier neighbors of Pleasant Hill, Walnut Creek, and Clayton.

Neighborhoods within the 94519 zip code include:

  • Dana Estates
  • Monte Gardens
  • Holbrook Heights
  • Wren Avenue
  • El Monte
  • San Vincente

These Concord neighborhoods offer proximity to Todos Santos Plaza and the downtown Concord BART station. As well, they provide access via Willow Pass Rd. to Highway 4.

Today I would like to talk about: Using your tax refund to jump-start your down payment savings.

According to data released by the Internal Revenue Service (IRS), Americans can expect an estimated average refund of $2,840 this year when filing their taxes. This is down slightly from the average refund of $2,895, last year.

Tax refunds are often thought of as ‘extra money’ that can be used toward larger goals; for anyone looking to buy a home in 2018, this can be a great jump start toward a down payment!

The map below shows the average tax refund Americans received last year by state. (The refunds received for the 2017 tax year should continue to reflect these numbers as the new tax code will go into effect for 2018 tax filings.)

It's Tax Season… Use Your Refund to Jump Start Your Down Payment Savings! | MyKCM

Many first-time buyers believe that a 20% down payment is required to qualify for a mortgage. Programs from the Federal Housing Authority, Freddie Mac, and Fannie Mae all allow for down payments as low as 3%, with Veterans Affairs Loans allowing many veterans to purchase a home with 0% down.

If you started your down payment savings with your tax refund check this year, how close would you be to a 3% down payment?

The map below shows what percentage of a 3% down payment is covered by the average tax refund by taking into account the median price of homes sold by state.

It's Tax Season… Use Your Refund to Jump Start Your Down Payment Savings! | MyKCM

 

The darker the blue, the closer your tax refund gets you to homeownership! For those in Alabama looking to purchase their first homes, their tax refund could potentially get them 69% closer to that dream!

Bottom Line

Saving for a down payment can seem like a daunting task. But the more you know about what’s required, the more prepared you can be to make the best decision for you and your family! This tax season, your refund could be your key to homeownership!

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 homes for sale in Concord, CA by map (click the map below):

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

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