Geoffrey Disch, Author at Green Escrow Services, Inc

Build-to-rent homes increasing

January 25, 2021 By Geoffrey Disch Leave a Comment

Since the start of the pandemic and the possibility of working remotely – and the need for more space – landlords in the suburbs have seen record occupancy rates. Expecting this trend to continue for the foreseeable future many investors are funding build-to-rent homes.

As the demand increases, many traditional home builders are partnering with investors to build these rental homes. It is estimated that anywhere between 5 and 10 percent of new homes currently being built are for the rental market.

Open House tips

January 21, 2021 By Geoffrey Disch Leave a Comment

Eventually, open houses will return and, while online tours are convenient, there’s nothing like actually stepping inside a real house to get a feel for what it’s all about. If you’re a first-time buyer, here are a few things to remember:

Before you rush inside, take a good long look from the curb. How does the roof look? And the siding? Any standing water? All of these can be signs of trouble if something doesn’t look right.
These days staging is very common so it’s important to look beyond – and sometimes behind – the props. Cracks in the ceiling? Stains or signs of mold? Uneven floor? Take your time.
If the house has a basement, this can tell you plenty about the overall health of the house. Foundation cracks? Dampness after a good rain?

Make note of any irregularities and compare notes with a home inspector before you buy. You’ll be glad you did.

Yet another 2021 forecast

January 18, 2021 By Geoffrey Disch Leave a Comment

We’ve looked at 2021 real estate forecasts from Zillow and Bay Area realtors, here are more trends to expect in 2021.

Space will remain crucial: Remote working is here to stay – at least on some level – and the ability to work from home will continue to be important. And this means having space.
Don’t expect open houses any time soon: Not having open houses have not had an adverse effect from a seller’s point-of-view. The trend toward virtual tours will continue.
A good time to buy a condo: Prices are currently at 2018 levels and some analysts expect then to decrease even more. Eventually, they will bottom out and start to rise so now maybe a good time to buy.

Bay Area realtors 2021 forecast

January 14, 2021 By Geoffrey Disch Leave a Comment

A recent article in the San Francisco Chronicle offered a roundup of 2021 housing market predictions by several Bay Area realtors. Highlights include:

All see a robust market in 2021 as the pandemic winds down, the economy rebounds, and interest rates remain super low.
Demand for spacious single-family homes will remain very high as many employees continue to work remotely.
The condo market will rebound as some workers return to the city
Overall optimism will increase as the future looks brighter.

Zillow 2021 Predictions

January 11, 2021 By Geoffrey Disch Leave a Comment

Zillow’s 2021 housing predictions are out and some of the more interesting ones include:

Spring 2021 will be one of the hottest real estate seasons in memory as vaccines continue to roll out, local economies and schools begin opening back up, and a growing concern over higher mortgage rates in the fall.
Advances in technology and a growing comfort in shopping from home will lessen the traditional seasonality of house buying.
Home sales growth will be the largest since the 1980s as they expect a 21.9 percent growth rate and a total of 6.9 million homes sold.
Rent prices will increase as there will be fewer concessions from landloards.

Bay Area sales to continue strong

January 7, 2021 By Geoffrey Disch Leave a Comment

Real estate analysts expect demand – and sales – for Bay Area homes to remain strong throughout 2021. Demand is expected to increase as (hopefully) the pandemic winds down and prices are expected to rise as well although probably at less than the 5 percent rate predicted nationally.

Experts expect the outwork migration from major cities to continue as remote work becomes more commonplace. Interest rates are expected to remain around 3 percent for the foreseeable future.

Analysts are concerned over the Bay Area’s housing deficit as inventory remains low and new construction is limited by increased construction costs.

A smarter bathroom?

January 4, 2021 By Geoffrey Disch Leave a Comment

Smart technology is all the rage these days and it’s no surprise that it’s finally reached the bathroom. Here are a few ways to make your bathroom smarter:

Digital assistants: Turn on your showers, faucets, lights and more with digital assistants.
Speakers: You’ve got sound in the rest of your house, why not the bathroom?
Showers: Set the proper temperature and get warned when things are heating up or cooling down.
Toilets: Voice controls allow hands-free flushing and self-cleaning options will keep your toilet spotless.
Faucets: Voice controlled to get your water hot for shaving and cleaning.

Multigenerational homes increasing

December 31, 2020 By Geoffrey Disch Leave a Comment

according to data provided by the National Association of Realtors, families are combining financial resources and purchasing homes that can accommodate multi-generations under one roof. Since the start of the pandemic, approximately 16 percent of home buyers have purchased multigenerational homes, compared with 11 percent the previous year.

in many cases, older parents are moving in as well as younger adults.

Unfortunately, homebuilders have not been able to keep up with the demand. Inventory remains low and builders continue to struggle with a shortage of labor, building materials, and available lots.

5.3% of US homes now in forbearance

December 28, 2020 By Geoffrey Disch Leave a Comment

2.787 million of the 53 million mortgages in the United States are now in forbearance according to data by Black Knight, Currently, borrowers can request an initial period of forbearance of 180 days which can be followed by an extension of equal length. During this time, borrowers don’t have to make loan payments and can make up for the payments over time after the forbearance period ends.

it is estimated that up to 550,000 forbearance plans will expire at the end of December. Foreclosure remains relatively low and Federal Housing Finance Authority and Department of Housing and Urban Development accounced plans with week to extend moratoriums on foreclosures and evictions until February 28, 2021.

Increased interest in smart home technology

December 24, 2020 By Geoffrey Disch Leave a Comment

One byproduct of the pandemic amongst homeowners is an increased interest in smart home technology, according to a recent survey by realtor.com. As more employees are working remotely, many homeowners are prioritizing the safety and security of their homes. Not surprisingly, interest in smart home gadgets s highest among young people, aged 18 to 34.

While home security is the prime concern, the survey found that energy efficiency and entertainment are also on many wishlists.