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Sellers are still doing well in …

March 16, 2023 By Geoffrey Disch Leave a Comment

Green Escrow Services | Adding value to home

We keep hearing that the days of a strong sellers’ market are over and that may be true. But there are still a few areas where the sellers’ market is strong (although nothing west of Texas…)

  1. Davenport, IA
  2. Montgomery, AL
  3. Wichita, KS
  4. Tulsa, OK
  5. Youngstown, OH
  6. Minneapolis-St. Paul, MN
  7. McAllen, TX
  8. Harrisburg, PA
  9. Little Rock, AR
  10. Knoxville, TN
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Filed Under: Real Estate

Mortgage rates up, inventory falling

March 13, 2023 By Geoffrey Disch Leave a Comment

The news continues to be tough in the housing market. Mortgage rates climbed to 6.73 % for a 30-year fixed mortgage while hoe prices increased by 6.3%.

New listings have declined for 35 weeks straight, down 26% compared with 2022. And houses on the market continue to sit for up to 18 days longer than last year.

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Filed Under: Real Estate Tagged With: housing market 2023

More on the market, 2023

March 9, 2023 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate Market News

Spring is here (almost) and the housing market is expected to … who knows? Mortgage rates are high and, based on the comments from the Federal Reserve on raising interest rates, expected to go higher.

Sellers have seen prices moderate a bit and and many have been forced to decrease asking prices. Houses are sitting on the market much longer as well.

Most analysts expect to see an upturn in the market in the coming months but nowhere near the craziness of the pandemic years or even the pre-pandemic times.

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Filed Under: Real Estate Tagged With: housing market 2023

The housing market: everything is going up

March 6, 2023 By Geoffrey Disch Leave a Comment

Real Estate Growth

Some good, some not-so-good, but here are the current trends in the housing market:

  • Active Listings: Up 67%
  • Median Listing Prices: Up 7.2%
  • Time on Market: 19 days longer
  • Mortgage Rate: 6.65%
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Filed Under: Real Estate Tagged With: housing trends

Homebuyer fatigue

March 2, 2023 By Geoffrey Disch Leave a Comment

For Sale sign

New listings – essentially sellers putting their homes for sale – are down 13 percent from a year ago. Analysts agree that many potential sellers simply don’t want to be the position of becoming a buyer again.

Many, many qualified buyers have lost out to all-cash purchases over the last three years – often several times – and the cumulative effect is simply burnout.

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Filed Under: Real Estate Tagged With: homebuyer fatigue

No one is buying homes in …

February 27, 2023 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate News

Even though home prices have moderated a bit, high mortgage rates and a shaky economy have seen home sales decline by approximately 33 percent. And some metropolitan areas have seen sharper declines that others. The ten US cities where home sales have fallen the most include:

  1. Tucson, AZ
  2. Las Vegas, NV
  3. Charleston, SC
  4. Ventura, CA
  5. Salt Lake City, UT
  6. Jacksonville, FL
  7. Colorado Springs, CO
  8. Atlanta, GA
  9. Raleigh, NC
  10. Washington, DC
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Filed Under: Real Estate Tagged With: Declining home sales

Oakland’s housing plan accepted

February 23, 2023 By Geoffrey Disch Leave a Comment

Oakland

The news is good for the city of Oakland as their plan to add 26,000 new homes in the next 10 years has been accepted by California’s state housing officials.

This means that Oakland will be eligible for needed funding and maintaining a degree of control over local development rules.

To date, only five local governments – Oakland, San Francisco, San Leandro, Emeryville, and the city of Alameda – have had their final plans approved by the state.

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Filed Under: California Tagged With: Oakland housing plan

Bay Area homes selling below asking price?

February 21, 2023 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate News

According to Redfin, for the first time in over 10 years, Bay Area homes are selling, on average, for less than the asking prices. Of course, with mortgage rates around 6.3% many would-be buyers are being forced to wait.

With less competition, those who are still in the market now have a wider choice and a stronger negotiating position.

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Filed Under: Real Estate Tagged With: Homes selling below asking price

Dublin: California’s fastest growing city

February 16, 2023 By Geoffrey Disch Leave a Comment

Dublin, CA

In an era when cities are shrinking or, at best, remaining stagnant, from 2010 to 2020 Dublin saw it’s population increase 58 percent from 46,000 to 73,000, making it the fastest growing city in California, let alone the Bay Area.

And the reason is simple: Dublin has built housing. From 2010 to 2020, 1,800 new housing units were permitted per 10,000 existing residents as of 2010; nearly double the rate of Milpitas which ranked second in permits approved.

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Filed Under: Growth Tagged With: Dublin's growth

Yes, it cheaper to rent than buy in the Bay Area

February 13, 2023 By Geoffrey Disch Leave a Comment

Green Escrow | Real Estate

A new report by realtor.com lists the metro areas where it’s cheaper to rent than to buy and the San Francisco / Oakland / Hayward area finished second nationwide as it’s 97 percent cheaper to rent a starter home.

Specifically, median rent for a starter home in the Bay Area is $2,943 and the monthly cost to buy is $5,798.

Not surprisingly the San Jose / Sunnyvale / Santa Clara area finished 4th with a rent-to-0buy difference of 83 percent.

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Filed Under: Rentals Tagged With: cheaper to rent in the Bay Area

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Our clients say...

“I’ve been in this industry for over 20 years. I have seen both fantastic and just “ok” escrow officers. The Escrow Officer and her team are typically the last stop for a borrower during the purchase or refinance transaction. You want that person and team to be personable, professional and helpful to your client. Kathy and her team at Green Escrow has surpassed my expectations. The team has gone the extra mile to ensure my file closed on time and without incident. I’m looking forward to continued success with Green Escrow.””
by Adina Erridge, Bay Equities Home Loans

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Suite 212
San Ramon, CA 94583
Office: (925) 523-3232
Fax: (925) 523-3231

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