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January 2019

Monthly Market Minute

Happy New Year! The Leah Tounger Realty Group is starting 2019 with a monthly digital newsletter providing you with useful information.

State of the East Bay Real Estate Market
All indications are pointing to the market shifting. Since the market is cyclical in nature, the downward shift coming to the market should not be a real surprise, especially after a strong 8 year run. That being said, there is no need to panic! There are no indications of the bottom falling out like back in 2008. Unlike then, current homeowners have equity in their homes so they do not have any incentive to walk away leaving the bank holding the mortgage. While we are seeing prices soften a bit, especially above $1.8M, the real impact will be longer days on market and fewer offers. If you are thinking of selling, now would be a good time before the market softens further. Buyers will still experience navigating in a "seller's" market. While it may seem like a good idea to wait things out, this would be a costly mistake. Reason being that mortgage interest rates are forecasted to climb throughout 2019. Whatever money that a buyer could save on the home price by waiting, would more than be made up by the higher interest rates for the loan. The only people that could benefit by waiting may be all cash buyers. The California Association of Realtors has some addition perspective [HERE]
Mortgage Rates Hit a 9-Month Low as Government Shutdown Is Already Biting the Housing Market
Rates for home loans slid again, even as the ongoing government shutdown poses a fresh threat for a wobbly housing market. The 30-year fixed-rate mortgage averaged 4.45% in the January 10 week, down 6 basis points since April. Click [HERE] for complete article.

What Homeowners Should Know About Tax Reform
The Tax Cuts and Jobs Act was signed into law December 2017. Several provisions impact homeowners, especially in California. Click [HERE] for Infographic summary.

45 Home Security Tips to Keep Burglars Away
We never want to think a burglary can happen to us or someone in our neighborhood. Hopefully it never will. Implementing these tips can tilt things in your favor [CLICK HERE FOR FULL LIST]
 
Curious what your home is worth?

CLICK HERE AND FIND OUT
Featured Properties & Market Activity
NEW YEAR, NEW PRICE!
18 Ormindale Court, Montclair Hills

Upscale Contemporary Custom Home
4 BR | 4 BA | 4,787 SF
More information at: 18Ormindale.com

Offered at $1,690,000
NEW LISTING!
2134 Curtis Street, Berkeley

Triplex
Owner Occupied Investor Opportunity
2 BR | 1 BA  /  2 - 1 BR | 1 BA Units 
More information at: 2134Curtis.com

Offered at $1,297,000
COMING SOON!
104 Alta Mesa Court, Moraga

Townhome
3 BR | 2.5 BA | 1954 SF
More information at: 104AltaMesa.com

Offered at $1,079,000
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