Tuesday, December 12, 2017

Happy Holidays: 2018 is going to be big! 🎆✨💥




I wanted to wish you and your family a Happy Holidays! I love this time of year. Much like you, I get to spend time with friends and family and create new memories. I also make sure to reflect on the year's achievements and plan ahead for the next one so I can be sure to help my clients achieve their goals. 

2017 has been an amazing year, but 2018 is shaping up to be even bigger. There are some big changes in Conforming Loan Limits that will impact home buying decisions in 2018. I'm continuing to follow tax changes being proposed that will heavily impact the state of California. Plus, I am monitoring tech industry moves that impact all of us in the area, and if you are looking to remodel your kitchen, here are some questions you need to ask yourself first. 

I have a new listing coming up in January that you need to check out. As you know, I love to share stories of my clients so be sure to check them out and I hope you've been following my market recap and forecasts each month because my predictions this year have been dead on.

Whether you are celebrating Christmas, Hanukkah, Kwanza or just enjoying the holidays. I wish you all the best.

Nathan


PRE MLS ALERT!
COMING SOON @ $1,350,000
Spacious and bright single family home in the desirable area around Forest Hill Elementary. This property features 3 bedrooms, 2 baths, and is 1,300 SF not including the square footage in the finished garage. There is plenty of room for playing in the backyard and the home will have new modern paint inside and out. Will be coming on the market mid January, but contact me if you would like to schedule a pre-MLS appointment.


Remodeled Mountain View Townhome @ $1,150,000!
The STAR is the home! Fully remodeled townhouse coming in early November. Above picture is artist rendition. Everything will be upgraded from the studs inward using high-end materials and ultra-modern designs.  
  • Walking distance to Downtown Mountain View
  • Close to Google and short commute to Facebook and Apple
  • Perfect for a 1st home or investment

Email Me To See These Homes


SOLD FOR $5,000 UNDER MARKET!
SOLD @ $1,175,000!
Absolutely gorgeous, and high quality workmanship turnkey home in Aptos very near to the Aptos Village. Spacious 3 bed 3 baths on a 17,000+ sf lot. Just appraised at $1,180,000 even though my client is only paying $1,175,000. Gourmet kitchen, high-end appliances with plenty of room to expand.



Do you or someone you know want these kinds of results in the next 12-18 months? You'd be surprised how much strategy and planning went into achieving these goals for my clients.
Great Idea - Start Today

BAY AREA MARKET RECAP AND FORECAST
In November larger homes jumped the most in value, selling for an average of 4.3% more than in October. Our very low inventory is forcing prices up at rates faster than many of us thought possible. Interest rates stayed flat over the past month, and we're getting a nice bump in the loan limits which will help Bay Area buyers. Our 18 days of market inventory (Market Temp) is right in line with the huge demand for housing we are witnessing, as are the multiple offers we see on 90%+ of all homes for sale. See the infographic below for more market stats and please let me know if you need any advice on how to navigate the market or create a plan for the future.
Infograph
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FHFA Announces Maximum Conforming Loan Limits for 2018

The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties.

The new ceiling loan limit for one-unit properties in most high-cost areas will be $679,650​

Read the Press Release

Giving Grandma a tax break to get more homes on the market: realtors' Prop. 13 ballot proposal 

In the midst of California's severe housing shortage and a federal tax overhaul, a statewide ballot initiative was quietly submitted this fall with the idea of getting longtime, older owners to sell their homes, freeing them up for younger families to buy.

The proposal from the California Association of Realtors would expand Proposition 13, the landmark constitutional amendment passed by voters in 1978 that has kept homeowners' property taxes artificially low over the years, even as their home values have doubled or even quadrupled. Under the initiative, homeowners who are over 55 or severely disabled would be able to keep those lower tax obligations for life, regardless of how many times they move, as long as they stay in California.​

Read the Mercury News Article

Amazon leases North San Jose offices amid Silicon Valley expansion

Amazon has extended a burst of Silicon Valley expansion by leasing an office building in North San Jose, according to people familiar with the deal.

Amazon has leased the entire 64,000-square-foot building at 2302 Trade Zone Blvd., said three people knowledgeable about the transaction.​

Read the Mercury News Article

Planning a Kitchen Remodel? Ask Yourself These 8 Questions First

Are you contemplating a kitchen remodel? After putting up with your outdated countertop and electric stove for far too long, you may feel it's time to take the plunge. A remodel of any kind comes with its fair share of ups and downs, so before you commit to multiple months' worth of construction in your home, there are some crucial questions you'll need to answer.​

Read the Realtor.com Article

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Copyright © 2017 Referral Realty, All rights reserved.

Nathan Nahouraii
408-209-9556
Referral Realty
1601 S De Anza Blvd Ste 150
Cupertino, CA 95014

Saturday, November 11, 2017

Homeowners Need to Act




I wanted to make sure you know how the current tax reform framework impacts homeowners.  
  • Caps the mortgage interest deduction at $500K for all NEW mortgages.
  • Increases the standard deduction, which puts homeownership tax incentives beyond the reach of more than 90% of American families.
  • Limits the exemption on Capital Gains Tax from the sale of a primary residence.
  • Eliminates the deduction for state and local income or sales taxes.
  • Eliminates the deduction for personal casualty losses, such as from hurricanes or wildfires.
  • Eliminates the deduction for moving expenses.
  • Eliminates the deduction on interest on student loans.
  • Eliminates the deduction for medical expenses, even for the elderly.
Restricting the Mortgage Interest Deduction to just the top 5 percent and repealing the deduction for state and local taxes would eliminate tax incentives of owning a home for current and prospective homeowners. There is some speculation that it could also lower the value of all homes by more than 10 percent and inhibit continued growth of the economy. My opinion is this is a bad deal for all Americans, and I took action. I hope you will do the same.
Tell Congress You Don't Support This

Here are my latest market insights. I wanted to share articles I found important: National trends; Tax Changes Impact Bay Area; Bay Area Market Realities

The listing I've been previewing is hitting the market next month.  Let me know anyone that might be interested. As usual, I love highlighting my clients.

Wishing you and your family a Happy Thanksgiving!

- Best
Nathan


COMING DECEMBER 2ND!
Remodeled Mountain View Townhome @ $1,150,000!
The STAR is the home! Fully remodeled townhouse coming in early November. Above picture is artist rendition. Everything will be upgraded from the studs inward using high-end materials and ultra-modern designs.  
  • Walking distance to Downtown Mountain View
  • Close to Google and short commute to Facebook and Apple
  • Perfect for a 1st home or investment
Seller would consider selling OFF MARKET

Email Me To See This House


UNDER CONTRACT FOR $5,000 UNDER MARKET!
SALE PENDING @ $1,175,000!
Absolutely gorgeous, and high quality workmanship turnkey home in Aptos very near to the Aptos Village. Spacious 3 bed 3 baths on a 17,000+ sf lot. Just appraised at $1,180,000 even though my client is only paying $1,175,000. Gourmet kitchen, high-end appliances with plenty of room to expand.



12th OFFER DID IT!
SOLD @ $675,000
2447 Jamacia Way in San Leandro
My client's 12th offer finally got him a house! The home is a 1,330 sf 3 bed 2 bath with an open floor plan. Multiple offers are very very typical most everywhere in Silicon Valley.



WON THE BID!
SOLD @ $755,000
237 Rayos Del Sol in San Jose
3 bedroom 2.5 baths, 2,041 sqft home only 11 years old. BEAT OUT other offers and then negotiated a credit towards closing costs.

Do you or someone you know want these kinds of results in the next 12-18 months? You'd be surprised how much strategy and planning went into achieving these goals for my clients.
Great Idea - Start Today

BAY AREA MARKET RECAP AND FORECAST
All homes in the Greater Bay Area rose in value over the past 30 days with smaller to medium sized homes seeing the largest gains. Interest rates are creeping up, as we all expected, in anticipation of the Fed raising rates in the coming months. Days on market are at very low lows. Most homes have between 4 and 30 offers on them. Our 24 days of market inventory (Market Temp) is right in line with the huge demand for housing we are witnessing. There are still no indicators that the market will be cooling off anytime soon. See the infographic below for more market stats. Let me know if you need any advice on how to navigate the market or create a plan for the future.
Infograph
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Supply Shortage in U.S. Sends Home Prices Higher 

Home prices climbed and sales declined during the third quarter as a chronic supply shortage continued to disrupt the housing market.

Single-family home prices rose on an annual basis in 92% of 177 U.S. metropolitan areas, according to the third quarter report from the National Association of Realtors. That was the largest share of metros notching price gains in more than two years.​

Read the WSJ Article

GOP tax proposal would wallop new Bay Area homeowners 

Think the Bay Area housing market is tight?

It could get worse, experts say, if a proposed Republican tax plan — slashing the popular mortgage interest deduction and limiting state and local tax write-offs — makes it into law.​

Read the Mercury News Article

'Living' at SFO cheaper than renting in the city?

The airport. It's not a place where most people want to spend more time than is absolutely necessary. Stand in line, have your documents evaluated, walk around, repeat.

Even fewer people would consider living there, even though most of them are already packed for it.​

Read the SFGate Article

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Copyright © 2017 Referral Realty, All rights reserved.

Nathan Nahouraii
408-209-9556
Referral Realty
1601 S De Anza Blvd Ste 150
Cupertino, CA 95014