How Natural Disasters Affect The Market

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My writer and his family were startled awake by a storm that carried much more power than expected last week. They live in Asheville, NC, one of the hardest-hit areas by Hurricane Helene. Though he and his home escaped any major damage, his entire neighborhood was filled with downed trees, smashed roofs, and other destruction.

*The worst of the damage to my writer’s home in Asheville: a smashed A/C unit, a fence, and one gutter. He says they are much luckier than most people they know in the area!*

Here in California, we deal with the effects of wildfires in many of our communities and live amid the fear of “the big one” hitting a major fault and triggering a massive earthquake. Beyond all the loss of life and property that results from these disasters, the real estate market can take a big hit. Here’s some info on how those markets are affected, paraphrased from this real estate blog:

There is typically a sharp decline in property values immediately after a natural disaster. Homes can suffer serious damage and be in need of repair. Those repair costs, plus a perceived increased risk of future disasters, diminishes appeal and demand. If many in the area were underinsured or uninsured, there could be financial difficulties that lead to foreclosures and an even longer-term depressive effect on market prices.

Of course, investors might see a place hit by disaster as a strong bet for long-term recovery and appreciation and could swoop in and purchase properties at low prices. This can provide much-needed capital for rebuilding efforts but also lead to gentrification and displacement of residents who are now priced out of their communities.

In the long term, markets tend to adapt to the reality of natural disasters, including new building codes and zoning laws to mitigate future risk (think, elevating homes in flood-prone areas or enforcing stricter fire-resistant materials in wildfire zones). That can lead to increased building costs likely passed on to buyers and raising overall market values.

Finally, how quickly and competently the government responds to a natural disaster has a huge influence on the market’s trajectory. Timely and robust support can help stabilize markets and reassure potential buyers, but the opposite response can exacerbate the negative impacts on property values and investor confidence. If the variables align positively, a destroyed market can bounce back, sometimes even stronger.

One other issue the housing market in California is currently facing is the lack of insurance companies willing to insure new homeowners. Insurance has now become a contingency in the contracts because if you can’t get insurance, you can’t close on a loan. Rossmoor, our senior community, currently has a fire insurance coverage issue and can’t find lenders that will finance the homes in that community, thus they are all-cash closings.

I have referred a handful of clients to a current lender that seems to get buyers insured. However, my most recent closing he could not and they found only one company (Mercury) that would insure in Brentwood. I think they have quotas for specific areas and this problem was not helped by California putting limits on how much an insurance company can charge. It is this point that has caused so many insurance companies to leave California and I am unsure what the solution is.

Understanding all of these possibilities and variables can help buyers and sellers make informed decisions. There is no foolproof way to insulate a market from the effects of a natural disaster, but being diligent about preparedness, recovery effort, and strategic planning can pave the way for growth later. On a side note, I just saw an article about one home that did not burn in the Lahania fires while everything else burned around it. It was a newer build and had some fire hardening; maybe a wave of future possibility?

Just Sold ~ 2111 Brandywine Ln.

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I first met Matt through his brother, Dean. They were on the hunt for a fixer-upper in Hayward/Freemont area and the first house we put a bid on was a probate property – a complete burnout home, listed in the low $ 400,000s. When it went to court, the bidding shot up to $747,000, which just didn’t make sense to them.

*Matt (front) and Dean (gray shirt in back).*

After that, I showed them several more homes, all with significant issues and price tags in the $800,000 + range. Then we found Brandywine, a house that had been sitting for six months. It came with a massive $45,000 pest report. The trim and deck were completely rotted – the original wood was cheap, and the house hadn’t been maintained (likely rented out to students at Cal State Hayward).

We got bids from contractors, ranging from $12,000-$18,000, but they ended up going with Dean’s guy. He did all the section 1 work (damage to wood), even found a bunch of termites inside the framing of one window. Now, they’re gutting all three bathrooms, painting inside and out, installing a new dishwasher, and building a brand new deck. The last sale in that development was $904,000. This home started at $908,000 but had dropped to $799,000. After some back-and-forth negotiations, Matt bought it for $750,000.

This wasn’t a flip – Matt and his family are moving in. I can’t wait to see how it all turns out!

7 Things To Tell A New Homeowner

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I came across some great advice in an email from Super Home Warranty recently, that I wanted to share here. They listed seven great tips to tell a new homeowner. They may seem simple or obvious, but as a new home owner, one may not think about all these things. I agree with all of the tips, some may have been noted in the home inspection such as water leaks and where is the main and circuit breaker and yes do a deep clean before you move in with all your stuff, often a seller will clean, but may not be as detailed as you would like.

Check your smoke detector and CO2 alarms: always test your alarms and put fresh batteries in!
Update your address: this is probably the first thing most people do upon moving, but it’s good to remember not to put it off too long.
Change the locks: you never know how many spare keys are out there from previous owners, so change the locks for peace of mind.
Check for water leaks: early detection of leaks can save you tons of stress and money down the line.
Locate the water main and circuit breaker: I’d add the gas main, too, because the last thing you want is to have an emergency and not know where any of those things are!
Clean the house: this is a good opportunity to make it feel brand new, all like yours, and get difficult-to-clean areas like appliances and air vents looking clean as a whistle.
Transfer utilities: just like updating your address with USPS, you’ll want to transfer any utilities necessary to your name at the new home. The longer you wait, the longer you’ll go without electricity, water, internet, etc.

Are there any other tips for new homes and homeowners you can think of? Comment below with the things you wish you had known!

How A Second Offer Sealed the Deal in Record Time – 2126 Vaquero Way (Antioch)

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I was covering for another agent who was on vacation and got a message from someone referring Mitch and Mallory to her. With that agent unable to be there, I stepped in and showed Mitch and Mallory a house that we wrote an offer on but did not get. We went to look at another house and it all came together!

That house was 2126 Vaquero Way in Antioch. It actually had another offer on it when we arrived but we offered what was recommended (basically asking price) and ended up winning the bidding. Mitch and Mallory also got a $3,500 credit after inspections.

Luckily, Mitch is an electrician so knows many people in the trades and can do quite a bit of work himself. I’m sure they will get this place in tip-top shape for their first home! I love working with first-time home buyers and seeing all the possibilities a new home brings to people.

I’m thrilled for Mitch and Mallory on their new adventure and can’t wait to see the finished product. There is something about when a buyer is ready, they are really ready. They had been thinking about this for months and finally acted, so it’s no surprise it happened so quickly!

15 Home-Buying Myths, Busted

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I stumbled upon this Zillow article a little while back and thought it would make for an interesting rundown of things I sometimes see clients struggling with. Some of these things are simply not true. Others are exaggerated. Either way, buyers and sellers need to unlearn certain things about the real estate process before engaging in it. Read on for more.

MYTH: You need a 20% down payment. This hasn’t been required for decades! In fact, you can put as little as 3% down, depending on the loan or the location of the home.

MYTH: Your pre-approval rate is the rate you’ll get when you close. Interest rates adjust every day. So, what you see at pre-approval is based on current market conditions and other factors, and it can’t be “locked in” until you sign a purchase contract with the seller.

MYTH: You should wait to buy a home until prices are lower. Buying a home after prices go up can be risky, but so can waiting. In popular neighborhoods (like many in the Bay Area), it’s often better to go for it and not wait.

MYTH: Buying a home is always cheaper and a better investment than renting. Renting a home can be cheaper than buying in many places! The benefit to owning a home, of course, is that it will appreciate over time and build generational wealth.

MYTH: You should find a home before you apply for a home loan. It’s smart to get pre-qualified for a loan. It will give you more information to shop with.

MYTH: Buying a fixer-upper will save you money. Sure, maybe on the sticker price. But fixer-uppers need a lot more than just a fresh coat of paint. Generally, there are major issues that need to be tackled, not all of which are visible up front.

MYTH: You have to get your loan from the lender who pre-approves you. No, you have no obligation to stay with the lender you start with. Shop competitive offers and find the best fit before you go under contract.

MYTH: You shouldn’t buy until you can afford your ‘forever’ home. Selling a home can be costly, but if you wait to buy until you can afford that dream home rather than invest in a starter home, you may never buy at all.

MYTH: A 30-year, fixed-rate mortgage is always the best choice. Adjustable-rate mortgages (ARMs) can save thousands of dollars of interest over the life of the loan. That’s one example. There are other options!

MYTH: You can’t buy a home if you have student loans. Actually, those loans can hurt OR help your chances of buying a home – it can boost your credit scores but it can also raise your debt-to-income ratio for approvals. Consider every angle.

MYTH: You have to pay the seller’s asking price to buy a home. Definitely not. The seller’s asking price is simply what he or she hopes you’ll pay. Offers and counter-offers will bring you to a point of agreement in the end.

MYTH: You need excellent credit to buy a home. It’s good to have good credit, but there are great home loans and rates available for people with less-than-perfect credit too.

MYTH: Fall and winter are bad times to buy a home. It can actually work to your advantage to buy a home in seasons when most shoppers think it’s “bad.”

MYTH: You cannot buy a home if you are self-employed. The rules for getting a mortgage may be different for those who receive a W-2 from their employers, versus a 1099-NEC for being a gig or freelance worker. But it won’t stop you from buying!

MYTH: All lenders are the same when buying a home. You don’t just shop houses and rates when buying a home. There are also significant differences among lenders and you should find the best fit for you!

Happy House hunting an buying a home you love. We are currently seeing many price reductions, inventory is still low, but rates have come down. Thus if you have been on the fence, now may be a great time to buy with hopefully further rate drops and you can refi at that point. When I bought the home I am currently in, the rate was 8.5%. I ended up refinancing more than 8 times and currently have a 2.75% rate. Call me if you would like to chat about buying a home.

Just Sold: 3354 Betty Ln., Lafayette

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I recently co-listed 3354 Betty Ln. in Lafayette with Rose Brudigam. It was listed at $1.35 million and sold, all cash, for $1.50 million. It had been a rental for about 20 years but was recently transferred to six siblings due to the passing of the family matriarch. They made several upgrades over the years, from shoring up the garage foundation to remodeling the kitchen to adding dual pane windows and a new electrical panel. They also painted the exterior and landscaped the front yard to be lower maintenance.

Before going on the market, though, there was still much work to be done. The interior had to be painted, new fixtures had to be added, and new sod had to be laid in the backyard. It was staged for a mid-century look. Once on the market, an agent looking to buy for herself wanted to know if we would accept a preemptive offer (this can be very confusing to sellers – trying to understand the pros and cons of looking at preemptive offers).

We opted to market with a weekend open house and mid-week broker tour before entertaining offers. The sellers ended up with a beautiful offer from a woman who thought it would be perfect for her and maybe, sometime in the future, for her daughter.

Though it all ended well, it wouldn’t be a home sale without a couple of small snafus along the way. The sod we replaced started browning on the edges, so we increased watering time for two very hot days in a row before the offer was accepted. Shortly after, we checked the house again and the sod was going brown and gophers had pushed up dirt! We found a broken timer in the sprinkler system and the sellers agreed to replace the sod again and add gopher wire underneath.

Also, when the buyer did her final walk-through, she thought there was fencing around the yard (there was some fencing, just not complete fencing). Since she has a dog, it caused some stress, so we delayed the closing by five days to get the new sod in and to get bids for a fence around the main part of the backyard. The seller agreed to split the cost of the fence with the buyer, too.

All in all, we have happy sellers and a happy new homeowner in Lafayette with a peek-a-boo view of Mt. Diablo and we couldn’t be happier for both parties!

10 Kitchen Styles To Consider

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Today’s kitchen looks very different from yesterday’s kitchen – just like tomorrow’s will look different than today’s! The point is that every year and every generation sees some kind of change in the design and style of any room. Kitchens are a big one, and this – from Better Homes and Gardens – is a helpful guide to what is “in” right now.

There are so many great styles to choose from when remodeling your kitchen. These 10 are pretty popular and all come with their own descriptions and keywords that make them unique. Check it out:

*Traditional kitchen (credit: Better Homes & Gardens)*

Traditional: traditional kitchens tend to be formal and ornate; they evoke feelings of elegance, sophistication, and timeliness.

Modern: modern kitchens are simple, functional rooms. Sleek and low-maintenance aspects of a modern kitchen give off a warm vibe.

Contemporary: a contemporary kitchen will often be more trendy, and might even have newer technology included in its appliances. They are typically dramatic and striking, while still maintaining a bit of minimalism.

Contemporary kitchen (credit: Better Homes & Gardens)

Transitional: not to be confused with a “traditional” kitchen, transitional kitchens are modern, simple, relaxed, and often informal.

Scandinavian: as one would expect from Scandinavian design, these kitchens are serene, low-maintenance, and functional.

Organic: exactly as it sounds, an organic kitchen is bright and clean with natural and classic elements.

Industrial: again, exactly as it sounds; an industrial kitchen is often large, gray, open, and unpolished. It is a very practical choice for those cooking a lot.

*Cottage kitchen (credit: Better Homes & Gardens)*

Cottage: a cottage kitchen is often described as sweet and bright. They can also be vintage, charming, and decorative.

Farmhouse: farmhouse kitchens, much like farmhouse homes, are warm, sunny, and rustic. They have simple, soft elements that invite guests in.

Country: a country kitchen is also a warm, casual environment with “worn” elements; don’t be fooled, these are also cozy and inviting kitchens!

What is your favorite kitchen style? Let me know in the comments!

Zillow Quiz: How To Add Value To A Home

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I found this quiz from Zillow a while back and thought the findings were pretty interesting. Even as a professional realtor, I scored 70% on this, so it’s not easy! Fun, but not easy. Can you guess which features add value to a home? Take the quiz here.

Come back when you’re done!

Okay, good job. How did you do? Comment your score below. For me, I didn’t realize beverage fridges were more popular than wine fridges, nor that rounded counters and plant shelves add value. Personally, I don’t care for those things, and don’t see much of that in newer California homes, but of course, Zillow is nationwide and those may be hot in other locales. Personally, I think plants shelves just collect dust!

Luckily for you, I do know my way around homes and home value. It’s my job to help you add value when selling and save money when buying. So, if you want to work with a longtime realtor in the East Bay with a track record of success, I’m your gal. Give me a call next time you are looking to buy or sell!

The Art Of Rightsizing

This piece I wrote was originally published in the April issue of TBD.

Are you tired of the constant upkeep of a sprawling property or the daily stair climb? It might be time to embrace the transformative power of Rightsizing and step into a world of newfound independence.

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This piece I wrote was originally published in the May issue of South Walnut Creek Living Magazine.

What is Rightsizing: In a world where minimalism and flexibility are life goals, Rightsizing stands out as the savvy approach to shaping your surroundings for a fulfilling second act. Unlike downsizing, which focuses on reducing space and
possessions for simplification and financial reasons, Rightsizing offers a comprehensive strategy to optimize various aspects of life, including work, health, and family dynamics.

Americans are increasingly prioritizing simpler living with less clutter and square footage, whether it’s in a condo, townhome, or a house with a tailored layout, such as fewer bedrooms but a larger plot for gardening. Rightsizing isn’t just about saving money; it’s about gaining freedom, reducing stress, and creating a space with less clutter to enhance psychological well-being.

When determining quality-of-life decisions, research your desired location, property type, and budget to ensure a seamless Rightsizing experience. Don’t let market timing dictate your decision—improve your quality of life and daily enjoyment now. When choosing the right home, consider a range of wish list items. Envision the life you want, not the one you have now. Dream about the day-to-day and how your new home can make those dreams a reality.

Expert Tips for Rightsizing:

Don’t expect a windfall from selling your belongings; cherish memories over
possessions.
If it’s free pickup, go for it.
Life is easier with less.
Skip storage units; keep only joy-sparking items.
Start sorting a year ahead.
Document valuable items for heirs with the amount and receipts.
Use color-coded sticky notes for organization—keep, sell, donate, or throw away.

Leverage the expertise of real estate agents as partners in the Rightsizing process. They provide valuable resources, connections, and guidance for a smooth transition, even if it’s a year or more away.

Ready to start your Rightsizing journey? For more insight and a free consultation, give me a call. Your future of freedom, simplicity, and fulfillment awaits!

Just Listed: 1831 Jefferson St. (Concord)

Just Listed: 1831 Jefferson St. in Concord. For Instagram users: to learn more, click on the blog link in my bio.

Just listed in Concord: a 4-bed, 2-bath, 1,719-square-foot home in Bishop Estates. This beautifully-remodeled home includes a reconfigured kitchen with sleek quartz counters, a Bosch dishwasher, and a charming breakfast bar flowing into the family room.

You can entertain in style with a cozy living room and wood burning fireplace, gather for intimate meals in the formal dining room, and enjoy a true sense of community with your neighbors in friendly Bishop Estates. The primary suite offers an updated bathroom and all bedrooms offer hardwood floors.

Outside, enjoy privacy on the patio with no rear neighbors and spacious side yards. Safe, confined, and low-traffic streets make it perfect for children to ride bikes. Open Houses are occurring this weekend (April 13-14 from 1-4 p.m. each day), so come swing by!

Another bonus about Bishop Estates: it has cherished traditions of open porch nights, weekly Macaron Mondays, and events at the Cabana Club. It is suburban bliss! All of this and more for just $949,000. If you, or anyone you know, is interested in buying this wonderful home, please reach out!