A Millennial’s Guide to Homeownership

Open the PDF version here: MillennialeGuide

Advertisements

You have an important decision to make!

Thinking about Moving?

Thinking about Moving?

Want to know the monthly real estate changes in Hollister and surrounding areas? Know the real estate market before you decide to buy or sell a home. Kristen Jurevich with Intero Real Estate Services has the details to help you make an informed decision. Here is a hassle free example of the information you would get right to your email.  You have nothing to lose, so sign up today!

September Market Snap Shots

Want To Buy A New Home In Hollister?

Be sure to contact Kristen Jurevich at (831) 635-6719 if you have any questions regarding new construction in Hollister. There are a lot of new homes being built in the city of Hollister that will be available this fall.

If you have a home to sell, Kristen Jurevich can also help you relocate. It only takes a phone call to make this new home yours today.

Where is the real estate market going in 2016?

Real Estate Changes in 2016Central California will march to its own drum.

California is not like the rest of the country, so it’s hard to compare California on a national level like CNN, CBS, and NBC tend to group together.  Even the real estate market in the Peninsula – San Francisco, San Mateo, Palo Alto down to the Bay Area in San Jose is even more unique and hard to compare on a California level.  The local housing market varies from mile to mile and location, location, location still stands strong.

The housing inventory on the MLS is relatively low, but that has been the new normal for South San Jose like Morgan Hill, Gilroy, and Hollister.   The real estate market has been tough for some buyers looking to invest or purchase their first home in a lower price range.  Using a local full-time agent will help point out some “pocket” listings and new constructions that are not on the MLS.

Since Intero Real Estate Services holds the market share in Hollister, our community oriented agents tend to hear about listings before they are active.  Sometimes we can make successful transactions without having to go public.  Seems to keep everyone happy and stress free.

New construction is booming in Morgan Hill, which is leading the trends followed by Gilroy and Hollister.  While the teezer base prices of new construction are appealing, home buyers spend well over $30,000 in upgrades for some standard features.  Buyers pay the price for the brand new tag, but communities went for years without new construction they greatly oblige to the prices.

Interest rates may rise in 2016, but not on a large scale originally anticipated.  Leslie Appelton Young shared that it really depends on the economy at that time before we see major increases.  With the Presidential Election 2016, America will just have to wait and see what is promised by the candidates. National Association of Realtors did a fantastic job stopping a “transportation” tax that would have impacted home buyers, so REALTORS had a win in 2015.

With home prices on the rise and flattening, investors are looking to buy properties to rent versus flipping.  Foreclosures and short sales are few and far between, so capitalizing on distressed properties are starting to become a thing of the past.

Home values have been neutral in San Benito County but Santa Clara County still remains a seller’s market.  If you have to buy a home in 2016, then it will be a great time for you to enter the real estate market.  Prices are not going down anytime soon, thanks to global powerhouses like Apple, Google, Twitter, Yahoo, etc.

If you would like a home value analysis or buyer location analysis, please contact Kristen Jurevich at (831) 635-6719 or (650) 503-4110 or MoveWithKJ@gmail.com

 

 

Hollister is More Than a Bedroom Community

After reading a Facebook blog from Hollister Mayor-Ignacio Velazquez with his new year resolutions for Hollister, I was compelled to take a trip to the San Benito County Planning Department to see what was going on with my little community.  With all the new construction developing down almost every vacant lot, I wanted to see if Hollister had any permits or potentials for commercial development.  Unfortunately my dreams were not fulfilled and Lowes or Home Depot did not fill the Hillcrest to Meridian spot.

With an estimated 1,200 homes on the horizon, I asked, “Where are all the people going to go? We only have one Target.”  I was told to “be excited” and Hollister is a “bedroom community.”  Although it was not said in a negative way, I could not help to challenge the remark. I am excited for growth and change, not to mention job security for Realtors like myself. But we also need a place for residents of all ages to go and spend their money locally.

For starters we do have Marich and DeBritos delicious chocolate factories that offers special tours to see divine sweets.  Hollister also contributes to a quarter billion dollars towards the San Benito Farm Bureau with worldwide distribution of vegetables, salad, bell peppers, and let’s not forget the Jurevich cherries.  San Benito Bene is a specialty store located in Downtown Hollister, that displays some of Hollister’s most elegant and personalize gifts.  The store’s owner Kathina is a key asset to the the San Benito Olive Festival which is following the successful profit generating Garlic Festival.

When the Board of Supervisors candidate Victor Gomez spoke at our San Benito County Association of Realtors meeting, he said that he “doesn’t see cars driving by on HWY 25, he sees wallets.”  Isn’t that the truth.  Money being spent elsewhere.  Even if a greater portion of sales stays local, we would have more funding for schools, first responders, and road maintenance.

Now that the ground breaking is happening, rest assure Realtors will be reaching out for more commercial development to sustain our growth.  Let’s make our home a better place to live.  Let’s provide necessities for families at the same rate we build homes.  Let’s be the change we wish to see in the world.

California Improving Markets

 

Wall Street Journal published an article about dirt cheap lots and land rapidly increasing to pricey commodities.  It sparked my interest, so I researched some available lots and lands in San Benito County through the MLS and about 20% have increased their price recently.  Home builders are swooping up the land, getting the permits, and selling them to eager home buyers.  Take a look at the chart below of major California cities that have seen an increase in permits.

ImprovingMarkets

 

Read the Wall Street article here.

14 Reasons to Love Real Estate TODAY

If you are thinking about making one your biggest investment decisions sometime soon, let me reassure you the positive aspects of purchasing a home in this real estate market.

  1. Many types of financing-Find out what is right for a particular situation: USDA, VA, FHA, CalSters, Conventional
  2. Interest rates are under 5%- The rates are rising along with consumer confidence, so do not expect the low rates to last long.
  3. Bigger home for a smaller price-Do you think you can purchase the same home 4 years ago at the same price as today? Today a buyer gets more home for your dollar.
  4. New construction in Hollister, CA-Kaufman and Broad (KB) Homes and Anderson Homes are sprouting up now that the moratorium has been lifted.
  5. Buyer competition is low-As some buyers are still waiting for more foreclosures to hit the market, you can nab the home that is actually available now. It is hard to predict when the banks will release their repossessed homes.
  6. Bank homes are more presentable-For marketing purposes REO agents make recommendation to the bank’s asset manager for any rehab on the property.  Now homes are more move-in ready, so buyers can move in right at close of escrow.
  7. Traditional sales are more common-“Contingent upon sale” are popping up more in transactions.  A seller is looking to upgrade, but they must sell their current home to purchase-NO PROBLEM. Real people, real communication, real emotions.
  8. More quality agents-REALTORS have been filtered through the market over the last few years and the educated and career oriented salespeople are here to help buyers and sellers.
  9. Lender disclosures-The final HUD must reflect all money  involved during the transaction from short sale payoffs to real estate commission to sellers net.  Open door policy from the beginning to the end
  10. Good faith estimate-From the beginning the lender informs the buyer of all the possible fees that may incur during the transaction.  Although the fees may not be exact, the lender tries to educate the buyer of what lies ahead.
  11. Seller disclosure-A seller must be honest and truthful in filling out the Transfer Disclosure Statement and Seller Property Questionnaire, which informs the buyer of all known material facts that affect the value and desirability of the property.
  12. Inspections-If a buyer has any question on anything, they can hire a professional to inspect such as: soil, pest, home, roof, chimney, etc.
  13. Tax write-off-Besides having dependents, a home is one of the biggest IRS tax write-offs. Put cash in your pocket by just owning your own home.
  14. Big REWARD-Purchasing a home is not always easy, but a buyer has a sense of accomplishment that they can give memories a new home.