November is here, and I am ready to help you find your dream home. I know some of you are nervous about interest rates, but that is why I am here; to help with any and all questions and concerns you might have about the market.
View our properties in the new Compass Curated Magazine below: 2020 Victorine Road (pages 30-31), 237 Still Creek Road (page 48), and 599 Justin Morgan (page 49).
I am always here to help you with all your real estate needs. Give me a call 24/7 at 510-406-4836
Today’s Mortgage + Refinance Rates
After spiking early last week, 30-year fixed mortgage rates have remained below 7% for the past several days. Today, the Federal Reserve meets to discuss its next big policy move. Because markets have already priced in the likelihood of another large hike, mortgage rates shouldn’t be impacted by the Fed’s announcement.
Taking The Fear Out Of Saving For A Home
If you’re planning to buy a home, knowing what to budget for and how to save may sound scary at first, but it doesn’t have to be. One way to take the fear out of budgeting is understanding some of the costs you might encounter.
DID YOU KNOW?
The Government ‘Stimulus’ That Continues
While the multiple government COVID-related stimulus packages wind down, having fueled the economy and individual coffers with excess capital on a scale never seen before, there are two other stimulus programs that are still actively injecting tons of capital into the system, and probably are contributing to inflation more than we realize:
1. The 2021 Infrastructure Bill – a miraculously bi-partisan bill – will inject about $1.2 trillion into the US economy and it’s highly likely this will keep construction costs for everything up. In this bill lies enormous – and essential – spending to upgrade our roads, bridges, etc, but in the process the demands it will place on many construction materials and labor are certain to keep construction costs in other areas high too. Over 5 million metric tons of steel alone will be needed. Now think concrete, heavy duty construction machinery, etc. This spending has only just begun.2. The 2018 Tax Cuts and Jobs Act. Lowered taxes have fueled the consumer and corporations with more disposable income. Lowered rates on individuals, corporations and estates have added trillions of dollars into the economy and continue to do so through 2025 when they ‘expire’. Lower taxes put more money into the hands of consumers and businesses….who are then able to spend and invest more.
I’m not speaking for or against stimulus. But it’s important to be aware of where all excess capital and demand come from, and then to understand what can cause inflation to spike. We are still unsure how much those who moved to low or no-tax states – with high incomes – fueled local inflation by causing massive new demand and price hikes, especially in real estate. I for one am quite certain that I would spend a lot more on ‘stuff’ if my taxes were lower (New York taxes are rough!), but seeing what impact that has on inflation – especially in the luxury markets where I think inflation runs much, much hotter – concerns me that the buying power of those savings is quite quickly diminished by the forces of free markets that simply climb in and charge lots more knowing there is higher demand to fuel profits.
~By Leonard Steinberg
195 Chanticleer Ln., Alamo | List Price $1,899,800 | 195chanticleerln.com
9 bd | 8.5 ba | 8903 sf | 7.81 ac
MAIN HOUSE – 7 bd | 6.5 ba | 7253 sf
POOL HOUSE – 1 bd | 1 ba | 550 sf
GUEST HOUSE – 1 bd | 1 ba | 1100 sf
5 bd | 3.5 ba | 4724 sf | 0.50 ac
List Price $3,588,800 | 3385quailwalkln.com
5 bd | 4.5 ba | 4747 sf | 0.59 ac | 4283silvermeadowct.com
Offered at $2,698,800
1605 Riviera Ave. Unit 601, Walnut Creek | Offered at $1,728,800
2 bd | 2.5 ba | 1923 sf | 3-car garage | 1605rivieraave.com
2020 Victorine Road | Livermore | Offered at $16,898,800
5 bd | 5F/2H ba | 8144 sf | 107 ac | 2020victorinerd.com
237 Still Creek Road | Danville | Offered at $4,998,800
5 bd | 4F/3H ba | 5829 sf | 0.48 ac | Site: 237stillcreekrd.com
Offered at $12,000/month for Lease or $3,198,800 for Sale
5 bd | 4.5 ba | 4059 sf | 0.60 ac | Site: 176diabloranch.com
3649 Deer Trail Drive | Blackhawk | Offered at $2,599,800
5 bd | 3 ba | 4022 sf | 0.16 ac | Site: 3649deertraildr.com
27 Sugar Pine Lane | Blackhawk | $2,198,800
4 bd | 3 ba | 2946 sf | 0.15 ac | Site: 27sugarpineln.com
0 Highland Road | Pleasanton | Offered at $2,200,000
279.72 Acres! | Endless Opportunity!
116 Center Ct., Danville | Offered at $1,498,800
4 bd | 2.5 ba | 2173 sf | 0.11 ac | 116centerct.com
2027 Cedarwood Loop | San Ramon | Offered at $1,395,000
5 bd | 4 ba | 2254 sf | 0.09 ac | 2027cedarwoodloop.com
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