News

San Franciscans Flock to Sacramento, Seattle Housing Markets

- 05/02/19

Earlier this year, the real estate brokerage Redfin published an updated version of its "Migration Report." This report uses search data from the Redfin property listing website to identify various trends relating to the housing market, home buying, etc.

One of those trends: Many people who live in the San Francisco area are looking to Sacramento and Seattle, for more affordable housing options.

Buyers Priced Out of San Francisco Housing Market

The company’s latest report showed that a lot of folks are leaving the San Francisco metro area, and seeking to buy homes elsewhere.

In fact, among the 87 metro areas included within this particular report, San Francisco ranked first in terms of “net outflow” during Q4 2018.

Did You Know?

- 03/25/19

The Federal Reserve held its benchmark interest rate steady, and a majority of officials at the central bank signaled they might not raise the rate at all this year. (WSJ)

Hedge funds had a rough year in 2018 losing $88 billion in assets, (down 6.7% on average) the most since the financial crisis. Hedge funds have on average underperformed the S&P 500 for 10 years in a row. 580 funds shut down, while 552 opened. The total hedge fund industry capital is $3.24 trillion. The top 10 hedge fund managers combined income in 2018 was $7.7 billion.

The venture capital industry has ballooned over the past decade. Recent research has found that the size of the sector has effectively tripled in just 10 years: in 2008, $53 billion was invested in start-ups, and by last year it was $160 billion. (Barron's)

Facebook admitted millions of users content has been compromised: you may want to change your passwords.

NORTH STATE BIA POSTS FEBRUARY SALES NUMBERS

- 03/19/19

ROSEVILLE - A total of 426 new homes were sold during February in the greater Sacramento region, the North State Building Industry Association reported today. The sales were reported in 140 subdivisions in the six-county Greater Sacramento region from Marysville and Yuba City in the north to Galt in the south. In addition, 9,742 people visited active new-home communities last month.

BIA President and CEO Michael Strech is encouraged that sales will continue to rise as we head into spring.

"We are excited to see the high sales numbers in February. Sales increased by more than 20 a week over January. Even more encouraging is the comparison in year over year sales. February saw 70 more sales than the same month last year and we expect to see numbers continue to increase." Strech said.

Historic February Sales Review
The chart below offers a 10 year look-back on sales in the month of February.

Did You Know?

- 03/15/19

Mortgage rates skidded last week to the lowest level in a year. Freddie Mac said the 30-year benchmark mortgage rate fell 10 basis points to 4.31% in the week ending March 14. The 15-year fixed rate fell to 3.76% from 3.83%, while the 5-year hybrid adjustable-rate mortgage fell to 3.84% from 3.87%. (Marketwatch)

What distracts from curb appeal? A study conducted by OnePoll revealed that 57% say a dirty exterior, a lawn that is not mowed (55%) and dead plants and flowers (53%) are the top 3 worst offenders. Garish house colors, tacky mailboxes, no trespassing or beware of dog signs, garden gnomes, fairy statues, metal sculptures, paper lanterns, and trampolines also received honorable mentions. (NY POST)

U.S. oil exports will surpass Russian shipments and threaten to overtake Saudi flows by 2024, the International Energy Agency says.TU.S. will account for 70% of new oil supply. Global oil demand will grow by an average of 1.2 million barrels per day through 2024. (CNBC)