“Home” is taking on a whole new meaning

The 2020 Homebuyer Wish List [INFOGRAPHIC] | MyKCM

The word “home” is taking on a whole new meaning this year, and buyers are starting to look for new features as they re-think their needs and what’s truly possible. From more outdoor space to virtual classrooms for their children, buyers have a growing list of what they’d like to see in their homes. Let’s connect today if your needs have changed and your wish list is expanding too.

Americans Rank Real Estate Best Investment for 7 Years Running

Americans Rank Real Estate Best Investment for 7 Years Running [INFOGRAPHIC] | MyKCM

Real estate has outranked stocks, savings accounts, and gold as the best long-term investment among Americans for the past 7 years. The belief in the stability of housing as a long-term investment remains strong, despite the many challenges our economy faces today. Of the four listed, real estate is also the only investment you can also live in. That’s a big win!

Homebuyers Are in the Mood to Buy Today

Homebuyers Are in the Mood to Buy Today | MyKCM

According to the latest FreddieMac Quarterly Forecast, mortgage interest rates have fallen to historically low levels this spring and they’re projected to remain low. This means there’s a huge incentive for buyers who are ready to purchase. And homeowners looking for eager buyers can take advantage of this opportune time to sell as well.

There’s a very positive outlook on interest rates going forward, as the projections from the FreddieMac report indicate continued lows into 2021:

“Going forward, we forecast the 30-year fixed-rate mortgage to remain low, falling to a yearly average of 3.4% in 2020 and 3.2% in 2021.”

 With mortgage rates hovering at such compelling places, ongoing buyer interest is bound to keep driving the housing market forward. Rates also reached another record low last week, so homebuyers are in what FreddieMac is identifying as the buying mood:

“While the rebound in the economy is uneven, one segment that is exhibiting strength is the housing market. Purchase demand activity is up over twenty percent from a year ago, the highest since January 2009. Mortgage rates have hit another record low due to declining inflationary pressures, putting many homebuyers in the buying mood. However, it will be difficult to sustain the momentum in demand as unsold inventory was at near record lows coming into the pandemic and it has only dropped since then.”

There’s no doubt that even though buyers are ready to purchase, it’s hard for many of them to find a home to buy today. Mortgage rates aren’t the only thing hovering near all-time lows; homes available for sale are too. With housing inventory as scarce as it is today – a nearly 20% year-over-year decline in available homes to purchase – keeping buyers in the purchasing mood may be tough if they can’t find a home to buy (See graph below):Homebuyers Are in the Mood to Buy Today | MyKCM

What does this mean for buyers?

Competition is hot with so few homes available for purchase and low mortgage rates are helping to drive affordability as well. Getting pre-approved now will help you gain a competitive advantage and accelerate the homebuying process, so you’re ready to go when you find that perfect home you’d like to buy. Working quickly and efficiently with a trusted real estate professional will help put you in a position to act fast when you’re ready to make your move.

What does this mean for sellers?

If you’re thinking of selling your house, know that the motivation for buyers to purchase right now is as high as ever with rates where they are today. Selling now before other sellers come to market in your neighborhood this summer might put your house high on the list for many buyers. Homebuyers are clearly in the mood to buy, and with today’s safety guidelines and precautions in place to show your house, confidence is also on your side.

Bottom Line

Whether you’re looking to buy or sell, there’s great motivation to be in the housing market, especially with mortgage rates hovering at this historic all-time low. Let’s connect today to make sure you’re ready to make your move.

Real Estate Will Lead the Economic Recovery

Real Estate Will Lead the Economic Recovery | MyKCM

With more U.S. states reopening for business this summer, and as people start to return to work, we can expect the economy to begin improving. Most expert forecasts indicate this economic recovery will start to happen in the second half of this year. As we get back to work and the financial landscape of the country begins to turn around, many experts also agree that real estate has the potential to lead the way in the recovery process.

According to Ivy Zelman of Zelman & Associates:

 “Housing will fare better than expected during this severe downturn.”

In addition, CNBC notes:

“Mortgage demand from home buyers shows unexpectedly strong and quick recovery…The quick recovery has surprised most forecasters.”

Robert Dietz, Chief Economist and Senior Vice President for Economics and Housing Policy of the National Association of Home Builders (NAHB) says:

“Overall, the data lend evidence to the NAHB forecast that housing will be a leading sector in an eventual economic recovery.”

One of the big reasons why housing has the potential to be such a driving force is the significant impact it has on the local economy. This impact is particularly strong when a newly constructed home is built and sold. According to a recent study by the National Association of Realtors (NAR), the average new home sale has a total economic impact of $88,416. As outlined in the graphic below, this is a combination of income generated from real estate industries, expenditures, and new home construction.Real Estate Will Lead the Economic Recovery | MyKCMWith so many unknowns today, especially in the wake of a worldwide pandemic, one known factor is the bright spark the housing market can play in local and national recovery. Buying and selling a home goes well beyond personal growth and satisfaction – it supports our economy as a whole.

Bottom Line

According to experts, the economy will begin to recover in the second half of this year. With real estate as a driver, that recovery may start sooner than we think.

Stylish Condo in San Francisco’s Nob Hill

Built in 2014, this stylish condo residence at Marlowe is characterized by its luxurious finishes  and dark wood floors throughout. The home features a bright and spacious living area with large windows with north facing views of the neighborhood. An open designer kitchen has a combination of white and dark walnut cabinetry, beautiful quartz counters, top of the line stainless steel appliances, a Bertazzoni cooktop, and a huge entertaining island. Next to the kitchen is a comfortable space currently being used for a home office. The gracious master bedroom has ample closet space with custom organizers. The bathroom can be considered en suite, and also has a door facing the kitchen. It has a dark wood quartz vanity and a shower over tub with 3/8 frameless glass enclosure. The home has central air and heating and custom window coverings in all rooms with blackout curtains and shades. An in-unit washer/dryer and one car deeded garage parking complete the home. Parking has an outlet for an electric car. Located at the juncture of Nob Hill, Russian Hill and Pacific Heights, the Marlowe has an attended lobby and a beautifully landscaped community courtyard which includes a fireplace lounge, Bocce Ball court, gas BBQ and two dining areas. Transportation lines and tech shuttle stops are just steps away, as well as all the restaurants, nightlife, shopping and other amenities of the Polk Corridor.

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New Classically-Inspired Building Coming to Nob Hill

Crescent Nob Hill Condominiums

Located at the summit of Nob Hill, the Crescent is a thoughtfully designed new building, the first new residential development on Nob Hill in more than 50 years. A truly special new upscale condominium community, it’s designed by one of the world’s most celebrated living architects, Robert A.M. Stern. Located on the corner of California and Powell Streets, the new construction will have a classic style which is harmonious with it’s historic neighborhood surroundings, and will surely contribute to the charm of Nob Hill. Offering 44 exceptional residences once completed, new homes are expected to be ready in January of 2020. The building’s interior design is by award winning designer Champalimaud. There will be three levels of lifestyle amenities,  a magnificent rooftop terrace overlooking the city, and a unique, lushly landscaped “Secret Garden”. The developer is Grosvenor, one of the world’s largest privately owned property developers, known for their other projects in the city, such as 288 Pacific and 1645 Pacific. Presale is happening in October 2019.

Ultimate Indoor/Outdoor Living in Russian Hill

Constructed in 2014 and part of a boutique 3-unit building, this 3 bedroom, 3.5 bathroom Russian Hill condominium is the ultimate in indoor/outdoor living. The finest finishes and every amenity rule.

Beautifully configured for entertaining, the dramatic great room opens onto a spacious, sunny terrace with an outdoor kitchen with a Fire Magic grill, Soleic outdoor cabinets, a Dekton countertop, and a gas fire pit. The deck flows out to an expansive south-facing garden that has been enhanced with an outdoor approximately 20-foot Christie projector movie theater with surround sound, perfect for movie night or large gatherings to watch your favorite sporting event. This lovely home is distinguished by its exquisite craftsmanship and inspired selection of appointments. The bright chef’s kitchen boasts Calacatta marble counters; Bertazzoni and Miele appliances; and abundant Liecht custom cabinetry and an expansive island.

The three bedrooms’ stunning en-suite bathrooms are appointed with Carrara marble, French limestone, and Waterworks fixtures. The suite on the lower level opens onto its own deck leading to a luxurious custom Nordic six-person sauna with LED controls. With a 288 sq. ft. upper deck*, a 1464 sq. ft. backyard*, and a 216 sq. ft. lower deck (not including the sauna)*, this home is the ultimate entertaining space.

The icing on the cake at 827 North Point is the electronic systems that are present, which include: Crestron home-automation system controlling aspects of the home directly from your phone, wherever you have service; a Sonos and Marantz sound system with Definitive Technology in-ceiling speakers in the living areas, bedrooms, and bathrooms; Sonance outdoor speakers through the yard and patio; 5.1 channel surround sound home theater in the living room; Lutron automatic lighting controls; multimedia wiring for Cat-6 network and distributed audio and video; a QMotion automatic shading system with remote controls; a Siedle front door entry system with a video and intercom; and a Crimewatch alarm system with sensors and cameras on all external doors. The home is completed by a convenient in-unit laundry (washer and dryer included), energy-efficient multi-zone radiant heat with Nest thermostats; and one-car parking and storage in the building’s garage.

*All sq. ft. measurements are per appraiser.

Contact Michelle Balog at (415)810-7890 for more information.

Inspiring Design at The Brannan

Located in the heart of the vibrant South Beach this beautifully constructed and well-maintained condominium at the Brannan has an inspiring design, which along with the the building’s amenities and services make the Brannan one of San Francisco’s premier residences. With beautiful Brazilian cherry wood flooring and an open gourmet kitchen featuring light wood cabinetry, the living and dining room area is a welcomed retreat from the hustle and bustle of South Beach, one of SF’s most eclectic neighborhoods for culture, entertainment, and recreation. The building community has three full-service luxury towers at 219, 229, and 239 Brannan Street with a total of  336 residences. Renowned French interior designer Christian Liaigre designed the high-end lobbies and common areas, reminiscent of the Mercer Hotel in Soho. The buildings’ facades, lobbies, courtyard, and pool area are finished with Italian limestone.  Enjoy an array of professional services, retail stores, restaurants, nightclubs, recreational facilities, and art galleries nearby.  The Brannan is within close proximity to the Embarcadero; AT&T Park (home of the World Champion Giants); South Beach Harbor and Marina; the Financial District; the San Francisco Museum of Modern Art (SF MOMA); Yerba Buena Gardens; Moscone Center; and the SF Ferry Building and famous farmer’s market. The Brannan is also close to mass transit including Muni, Caltrain, and BART and has excellent freeway access to East and South Bay locations.

 

 

Extraordinary View Condo at The Summit

Located in one of San Francisco’s most prestigious buildings, the Summit, this rarely available 2 bedroom, 2 bathroom northwest-facing corner unit sits atop Russian Hill with extraordinary panoramic views of the city and bay.

Gorgeously renovated, the 1,300 sq. ft. home (per tax records) features a spacious living/dining area with an open kitchen, floor-to-ceiling glass on three sides, beautiful dark oak floors, and sliding glass doors opening onto a balcony. A sleek chef’s kitchen boasts Italian slab marble, custom European cabinetry, and an array of Bosch, Miele and SubZero appliances. The master bedroom has a sliding glass door to the balcony and an en-suite bathroom with Italian slab marble, double vanity sinks, and a large glass-enclosed stall shower. A second bedroom and bathroom completes the home. The residence comes with a good-size storage closet and 1-car parking. Current HOA dues are $1,744 per month.

The Summit is one of San Francisco’s most unique buildings. The building has been lovingly maintained and remains true to Eichler’s aesthetic. The amenities include a 24-hour guard; a plaza-level deck with a conference room; and shared laundry facilities on each floor. Located in Russian Hill, the Summit is close to Hyde Street, Polk Street, North Beach, Nob Hill, and Chinatown. Living here means living in a quintessential San Francisco neighborhood.