Dana Estates Neighborhood in Concord, CA

Sunrise on Lynwood Dr. Looking Southeast along Lynwood Drive in Concord, CA.

Dana Estates Neighborhood

The Dana Estates neighborhood is located on the eastern border of Concord. The neighborhood is bisected by Landana Drive. Willow Pass Road forms the areas northwestern border. Dana Estates' southeastern border is Concord Boulevard.

Read about Dana Estates below.

Concord Real Estate News (February 20, 2018)

February 20, 2018 by Peter Maclennan Leave a Comment

Here are some of the most recent local real estate news headlines: When most people think of building wealth, they think of saving or investing in stocks or bonds. However, simple land and home ownership is often overlooked. In the Bay Area home ownership is increasingly becoming more expensive. Some are unable or unwilling to take that route and we now see renting rising in popularity. Many want more housing but don’t want it enough to put up with less open spaces or more crowded highways and transportation.

Land Is Underrated as a Source of Wealth

In the long term, housing does about as well as stocks. It’s also a major driver of inequality. Read the Full Story on Bloomberg.

Bay Area residents want more housing, but …

Fed up with soaring prices that are increasingly putting home ownership, or even a decent rental, out of reach, Bay Area residents overwhelmingly say they want more housing built, according to a new poll. But it better not make their commutes worse.

Residents said they support everything from new single family homes to housing for the homeless in their communities, tossing aside NIMBY concerns that sometimes throw a wrench in building plans. But there were limits to their enthusiasm. Respondents balked at building anything that would cut into the Bay Area’s cherished open spaces or funnel more people onto crowded local freeways and public transit, making their treks to work longer. Read More…

Bay Area home prices shoot up 12% in January as inventory plunges

The Bay Area’s median home prices shot up 12 percent in January from the prior year amid a worsening housing shortage.

Single-family home inventory hit a three-year low, pushing the Bay Area’s median price for single-family homes and condos to $880,000, compared to around $774,000 in January 2016. The price was down slightly from November 2017’s all-time peak of of $910,350. Read More…

Is home ownership losing its luster in these Bay Area cities?

As more people are unable, or unwilling, to buy a home, many major destinations in the Bay Area and beyond are turning into cities of renters. 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.

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

Concord Real Estate News (February 13, 2018)

February 13, 2018 by Peter Maclennan Leave a Comment

Here are some of the latest real estate news headlines: Some bay area residents have seen their houses sell for hundreds of thousands of dollars over the listing price. Others have balked at the Bay Area’s high housing costs and have left. On another note, do you think California is ready for a Proposition 13 overhaul? Finally, explore recent home sale prices in Contra Costa County.

Packing up and moving out: Bay Area exodus continues

Efforts to move out of the Bay Area continued in recent months, with 16,000 residents packing up and taking to the road for cheaper housing and new opportunities. A study by real estate brokerage Redfin found the Bay Area remains the top region for outward migration in the country.

The most popular destination for Bay Area refugees remains Sacramento, followed by other tech hubs and California cities. “It’s pretty much in line with what we’ve seen for the past few years,” said Taylor Marr, senior economist at Redfin. “Many people leaving the Bay Area are still looking in California.” Read More…

Is California ready for a Proposition 13 overhaul?

A new ballot initiative that takes aim at how commercial properties are taxed under California’s Proposition 13 could raise $6 to $10 billion more each year for schools and other programs and services, according to a new analysis by the Legislative Analyst’s Office. Read More…

Why Even ‘Ordinary’ Homes Sell for $500,000 Over the List Price

Almost a quarter of U.S. home sales were above the asking price last year, with an average premium of $7,000. These sellers managed to get a lot more. Read More…

Home sale prices from Contra Costa County, Feb. 2

Click Here to explore recent home sales in Contra Costa County.

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

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Concord Real Estate News (February 6, 2018)

February 6, 2018 by Peter Maclennan Leave a Comment

Explore the latest Concord real estate news here: Concord will invest millions to provide affordable housing. Bay Area home prices continue double digit gains and looking back to the recession, the real estate market here has regained all it lost and more. Under Concord’s new district election system, the city council is seeking input from residents on the proposed district maps. Looking ahead, a developer with big plans proposes building a professional soccer stadium along with retail, hotels, a convention center, and housing. All of this would be built on a three acre piece of property near the downtown Concord BART station.

With rents soaring, Concord to invest millions in affordable housing

CONCORD — Affordable housing is expensive to build, so the city plans to pitch in several million dollars to fund two projects.

Housing developers have until March 1 to submit proposals to the city for funds to build new affordable apartment complexes or to purchase and rehabilitate existing rental units.

…

City leaders have said they want to use the funds to provide housing for seniors, veterans and teachers. Read More…

Bay Area home prices continue double-digit gains on historic streak

Tight housing supply pushed Bay Area home prices higher yet again in December, extending year-over-year, double-digit gains for the fifth straight month — and overall gains to an historic 69 straight months.

The median sales price for a single-family home in the nine-county region rose to $765,000 in December, up 13.8 percent from last year, according to real estate firm CoreLogic.

The latest data continues a Bay Area housing narrative now stretching toward six years — a rollicking market great for property owners but punishing to newcomers and middle-income families hoping to buy. Read More…

Developer pitches pro soccer stadium, hotel complex for Concord

CONCORD — A professional soccer stadium could be the anchor for a downtown development with hotels, shops and a convention center, but only if BART agrees to play ball.

Walnut Creek developer Mark Hall, whose business empire includes hotels, restaurants, residential and commercial projects, has expanded into the world of professional sports…

With the Oakland Raiders leaving for Las Vegas, the Golden State Warriors moving to San Francisco and uncertainty about where the Oakland A’s will build a new stadium, Hall said he believes there is “an opening and an opportunity here for a professional team, and soccer is definitely on the way up.” Read More…

Concord Seeking Input from Residents on Proposed District Maps

The Concord City Council is seeking input from residents.

Currently, five City Councilmembers are elected at-large, meaning that all registered voters in Concord have the opportunity to vote for all five council positions.

Under the new district-election system, City Councilmembers will be elected by district. One Councilmember, who lives in a district, will be elected by registered voters who also live in the same district. Read More…

U.S. Housing Market Has Gained Back All $9 Trillion in Value Lost During Recession, but Uneven Recovery Means Some Markets Still Lag

SEATTLE, Jan. 25, 2018 /PRNewswire/ — The U.S. housing market has gained back all $9 trillion in value it lost when the market collapsed, but the uneven nature of the crisis and subsequent recovery has left many housing markets trailing behind, while others surge further ahead.

More than half of the nation’s largest housing markets have regained all of the value lost during the recession, with the typical U.S. home worth $55,200 more than it was at the bottom of the housing bust, according to a new Zillow® report. Read More…

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

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Dana Estates Real Estate | The Cost of Not Owning Your Home

February 1, 2018 by Peter Maclennan Leave a Comment

Dana Estates Real Estate | The Cost of Not Owning Your Home

The 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: The Cost of Not Owning Your Home

Zillow recently reported that:

“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”

What proof exists that owning is financially better than renting?

1. We recently highlighted the top 5 financial benefits of homeownership:

Homeownership is a form of forced savings.
Homeownership provides tax savings.
Homeownership allows you to lock in your monthly housing cost.
Buying a home is cheaper than renting.
No other investment lets you live inside of it.

2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.

3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.

4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!

Bottom Line

Owning a home has always been, and will always be, better from a financial standpoint than renting.

Source… KCM Peter Maclennan Blog

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

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Concord Real Estate News (January 23, 2018)

January 25, 2018 by Peter Maclennan Leave a Comment

Explore the latest real estate and local news headlines: Why San Francisco is the nation’s most competitive housing market. Tech execs back California bill that aims to build more housing near transit locations. Here in Contra Costa County, there is a debate over whether home owners are responsible for storm drain repairs under private property or not. Now for things that affect more of the Bay Area: A proposed $3 toll hike moves to the ballot box. Finally, for those who ride BART, their first new train is here at last.

This is what makes S.F. the nation’s most competitive housing market

In possibly a bit of unwelcome news for prospective homebuyers, San Francisco comes up on top in a LendingTree ranking of the most competitive housing markets in the country.

The online lending exchange identified the financial elements that make buying a home difficult and used its database of 1.5 million mortgage loan requests to rank cities based on three factors: the share of buyers shopping for a mortgage before choosing a home, average down payment percentage and percentage of buyers who have prime credit. Read More…

CoCo County: Homeowners Responsible for Storm Drain Repairs Under Private Property

KPIX ConsumerWatch reporter Julie Watts explains there is a storm brewing over who is responsible for paying to fix and replace aging storm drain pipes buried under Bay Area neighborhoods.

Click ‘play’ on the video above to watch the report and Click Here to see the original post on Claycord.com

Now in voters’ hands: Proposed $3 toll hike moves to the ballot box

SAN FRANCISCO — Bay Area voters now will decide which is worse — unrelenting traffic or paying up to $9 to cross a bridge.

The Bay Area Toll Authority on Wednesday voted unanimously to place a $3 toll hike on the June 5 ballot in all nine counties. If approved, the $4.45 billion measure is expected to be at least a partial answer to the traffic woes plaguing commuters. Read More…

It’s here! First train in BART’s new fleet makes inaugural run

OAKLAND — Brighter, cleaner, quieter: Those were just a few words BART riders used to describe the first train in the agency’s new fleet, which made its inaugural ride Friday…

The milestone was significant for the transit agency, which struggled with delays as it sought to iron out all the kinks with the new cars. BART is replacing all 669 of its train cars with 775 new ones, a $2.6 billion effort to update the aging and sometimes unreliable fleet, add capacity by running longer trains and improve passengers’ experience. Read More…

Tech execs back California bill that aims to build more housing near transit

Bigger, taller apartment buildings surrounding your neighborhood BART station? More than 100 California tech leaders are enthusiastically saying yes, please. Read More…

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

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Concord Real Estate News (January 11, 2018)

January 11, 2018 by Peter Maclennan Leave a Comment

Review the latest real estate and local news headlines: Concord will move to district council elections. Affordable apartments in Walnut Creek and Russians at center of bribery trial! Also for renters, the new normal: lower expectations and shrinking apartments. Economists say both 2018 rents and house prices will continue to grow with no end in sight. Plus, Millenial homebuyer credit scores are apparently decreasing.

Bowing to pressure, Concord will move to district council elections

CONCORD — In a move that may empower the city’s Latino voters, Concord will transition from at-large City Council elections to selecting representatives by district.

Although several of his colleagues expressed concern that districts may lead to “provincial” leaders who advocate for their areas instead of the entire city, Mayor Edi Birsan said the onus will be on voters to choose wisely.

“You are going to have to pick leaders who are sophisticated enough to represent your interests, not only in the district, but wherever else the city is,” said Birsan, a longtime proponent of district elections.

Concord joins Martinez among Contra Costa County cities scrapping at-large elections to avoid a potentially costly lawsuit. Read More…

Affordable apartments in Walnut Creek and Russians at center of bribery trial

MARTINEZ — The trial started Monday for a man accused of bribery involving low-income apartments in a lavish transit village in Walnut Creek, but the defense alleged its client and numerous others were discriminated against because they are Russian nationals.

It is an outlandish case, which authorities say might not have been solved if not for the defendant’s love of quirky, old-fashioned automobiles that led to numerous parking complaints, the property manager being transferred to another building, and the new property manager using Nancy Drew-like instincts to uncover what was going on.

The defendant, Walnut Creek resident Aziz Artykov, 50, is accused of facilitating tens of thousands of dollars in bribes to the former property manager of Avalon Walnut Creek Apartments, Matthew McVicker, who would in turn move Artykov’s friends to the top of a wait list for Avalon’s low-income housing program, which offered nice units for way below the market rate, to people who made less than half the median income. Read More…

For renters, the new normal: lower expectations and shrinking apartments

Gabriel Rodarte grew up in San Jose and has worked there for 30 years as a mailman for the U.S. Postal Service. Making his rounds, he says, “I see it all. I see three families living inside one small apartment, or total strangers who share a room. None of them stay very long; they can’t afford it”… A generation of tenants now sees itself as rent-poor, with every last dime doled out for gas, groceries and the landlord. Renters struggle throughout the Bay Area. In San Jose, the median monthly rent for a two-bedroom apartment is now $2,550, far above the national average of $1,560. A similar two-bedroom flat can cost even more elsewhere: $3,080 in Walnut Creek and $4,910 in Cupertino, according to a recent report.

As the Bay Area’s economy booms, and as the tech sector continues to expand, this is the new normal for those on the margins: shrinking expectations and shrinking apartments. Nearly 40 percent of working adults in the Bay Area are now “doubled up” with roommates in order to afford rent, according to a study from Zillow. Read More…

2018 house prices and rents will keep growing with no end in sight, economists say

Will 2018 be the seventh year home prices go up? Or the year the market stalls? Will this be the year that tenants get the upper hand over landlords? Or will rent hikes just keep coming?

In other words, will the seller’s market of the past 69 months continue in 2018?

We interviewed 10 economists and reviewed nine forecasts to find an answer to that question. It can be summed up in one word.

The latest Ellie Mae Millennial Tracker report shows a slight decline in the average credit scores of closed loans to Millennials from the previous year.

The report, which covers November 2017, shows that the trend was most noticeable for FHA and VA loans.

According to Ellie Mae, in November 2016, the average FICO score on a closed FHA refinance loan to a Millennial borrower was 678, but that dropped to 669 in November 2017. On VA loans, the average FICO scores on closed VA refinance loans dropped from 725 in 2016 to 710 in 2017.

“With the average credit score dipping, lenders are extending credit to borrowers who may have had no previous access to the housing market,” said Joe Tyrrell, executive vice president of corporate strategy at Ellie Mae. “While these scores are still significantly above the levels seen a few years ago, it is encouraging to see increased accessibility, especially as the millennial population continues to pursue home ownership.” Read More…

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

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Concord Real Estate News (January 4, 2018)

January 4, 2018 by Peter Maclennan Leave a Comment

Here are some of the latest real estate and local news headlines: Taxes and other major bills are to be considered in 2018. A landlord loses a lawsuit trying to crack down on tenants using Airbnb to make some extra cash without their landlord’s permission. A proposed $3 toll hike moves closer to a June ballot. Finally, though they aren’t here yet, BART will replace its train cars with newer, more efficient one’s which will increase capacity.

Rent control, property taxes and taller apartment buildings: California considers major housing bills in 2018

SACRAMENTO — The state’s housing crisis is back on the agenda as California lawmakers return to work after a months-long recess.

Proposals floated on the first week of the year would bring major changes to laws governing property taxes, rent control, and local zoning rules. Senate Democrats are also proposing a work-around for the recent GOP tax overhaul, which set a $10,000 cap on state and local tax deductions… This year’s debates come as the crushing cost of housing makes living in California ever less affordable. Read More…

Proposed $3 toll hike moves closer to June ballot

SAN FRANCISCO — Transportation officials are expected to vote next week to place a proposed $3 toll hike on the June ballot in all nine Bay Area counties.

If approved by voters, the tolls would go up on all Bay Area bridges, with the exception of the Golden Gate, beginning on Jan. 1, 2019 with a $1 increase. That would be followed by subsequent $1 increases in 2022 and 2025, when the tolls would reach $8 on all bridges except the Bay Bridge, where it would increase to $9 during peak commute times. Read More…

Airbnb wins: Court tosses lawsuit brought by major landlord

In a win for some renters who rely on Airbnb to make extra cash, a federal judge has tossed a lawsuit that sought to crack down on hosts using the short-term rental site without their landlords’ permission. Read More…

No new BART cars before the New Year, but agency says ‘soon’

HAYWARD — BART riders hoping for relief from trains packed beyond capacity will have to wait until after the New Year, officials said Thursday.

The agency is in the process of replacing its 669 train cars with 775 new ones, a $2.6 billion effort to upgrade an aging fleet, add capacity throughout the system and improve passengers’ experience with quieter, more reliable cars. Read More…

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

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2017 Dana Estates Christmas Lights Contest

December 13, 2017 by Peter Maclennan Leave a Comment

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.

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
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.

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

December 7, 2017 by Peter Maclennan Leave a Comment

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.

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

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concord california map — Concord CA Real Estate Map Search

Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope! | Concord Real Estate

November 16, 2017 by Peter Maclennan Leave a Comment

Feeling ‘Stuck in Place’? You Aren’t Alone… And There’s Hope! | Concord Real Estate

The Concord 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.

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: Feeling ‘Stuck in Place’?

Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.

According to data from the National Association of Realtors’ Profile of Home Buyers & Sellers, the average amount of time that a family stays in their home remained at 10 years in 2017. This mark ties the highest marks set in 2014 and 2016. Back in 1985, when data was first collected on this subject, homeowners stayed in their homes for an average of only 5 years.

There are many reasons why homeowners have decided to stay and not to sell. A recent Wall Street Journal article had this to say,

“Americans aren’t moving in part because inventory levels have fallen near multidecade lows and home prices have risen to records. Many homeowners are choosing to stay and renovate, in turn making it more difficult for renters to enter the market.”

Sam Khater, Deputy Chief Economist for CoreLogic, equated the lack of inventory to “not having enough oil in your car and your gears slowly [coming] to a grind.”

Historically, a normal market (in which prices increase at the rate of inflation) requires a 6-7 month supply of inventory. There hasn’t been that much supply since August of 2012! Over the course of the last 12 months, inventory has hovered between a 3.5 to 4.4-month supply, meaning that prices have increased and buyers are still out in force!

Challenges in the new-home construction market have “helped create a bottleneck in the market in which owners of starter homes aren’t trading up to newly built homes, which tend to be pricier, in turn creating a squeeze for millennial renters looking to get into the market.”

“Economists said baby boomers also aren’t in a hurry to trade in the dream homes they moved into in middle age for condominiums or senior living communities because many are staying healthy longer or want to remain near their children.”

So, what can you do if you feel stuck & want to move on?

Don’t give up! If you are looking to move-up to an existing luxury home, there are deals to be had in the higher-priced markets. Demand is strong in the starter and trade-up home markets which means that your house will sell quickly. Let’s work together to build in contingencies that allow you more time to find your dream home; the right buyer will wait.

Source… KCM Peter Maclennan Blog

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

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Dana Estates Neighborhood in Concord, CA