4040 Siino Ave, listed with views of Mt. Diablo.

Tired of renting? Looking for a place to store all your toys? Welcome home to 4040 Siino Avenue in Concord!

This 2-bedroom, 1-bathroom, 1,102-square foot home on a nearly quarter-acre (.23 acres) lot, has refinished hardwood floors, an updated bathroom and gorgeous, cozy bedrooms.

Relax on the covered patio, take in a beautiful view of Mt. Diablo and enjoy a perfect getaway that you get to call home. It’s situated on a quiet street, has a large detached garage with three bays and an extra spot for a boat or RV, and even a separate area for a kennel and dog run.

Everything you could ever want, all in the heart of the East Bay. And it’s offered at just $470,000 right now! We’ll have this awesome home available for viewing at our Open House on Sunday, June 25th from 1-4 p.m. Come stop by!

Owners have the largest mortgages in history!

It’s no secret that the housing market has been unbalanced over the past few years. Prices have been rising, and with them, so have average home loans.

mw-average mortgage size

According to The Mortgage Bankers Association (MBA), the average home loan size is the largest its been in the history of its survey, which began in 1990.

Additionally, the median mortgage size was only about 3.3 times the median annual income in 1990 – now, it’s more than 5 times as big. This is likely due to the increase in housing prices, buyers getting bigger homes and lower interest rates over the years.

Here’s a look at some housing market characteristics for select years.

Housing market data points
Courtesy Realtor.com (link in text above)

According to Mike Ervin of Supreme Lending, people are just waiting and waiting for mortgage rates to go down. People who are using securitizers like Fannie Mae and Freddie Mac have to wait until the Fed buys up more mortgage bonds so that rates will go down. It is unknown if that will happen, but rates have dropped in 2017.

Multiple factors can affect the bond and mortgage markets. The most recent major event was the Trump election and presidency, which saw a large immediate increase in mortgage rates, which have since rebounded, even with the Fed raising rates.

In California, we are in the wealth-building business and real estate in the Bay Area is going to be a good investment for years to come. I am here to advise, provide insight and help you build wealth through real estate.

California getting snotty about their potties

Did you know California has put a new law in place that went into effect on Jan. 1 of this year? It’s causing quite a commode-tion.
It basically says that any home built after 1994 must flush away some money meeting the requirement of having water-conserving plumbing (WCP) fixtures in their bathrooms, whether it’s going on the market or not. What a stinker!
Additionally, the law calls for installation of WCP fixtures – and wiping away the old one – when the existing plumbing fixtures use more than the following:
  • Any toilet manufactured to use more than 1.6 gallons of water per flush.
  • Any urinal manufactured to use more than one gallon of water per flush.
  • Any shower head manufactured to have a flow capacity of more than 2.5 gallons of water per minute.
  • Any interior faucet that emits more than 2.2 gallons of water per minute.

Now that the drought is over, I wonder if the regulations might go down the drain and on the sale side nobody is enforcing it. But either way, a very important question remains: who the heck has a urinal in their house?

Congratulations to Mckenzie!

I recently closed a home for my client, Mckenzie. She currently lives in the city and will be moving to Clayton. Thus, we met at the Legion of Honor to see the Monet exhibit, celebrate her closing and give her the house key, as seen below.

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IMG_1020The tenant doesn’t leave for another six weeks so this was a great way to celebrate and she was very happy to have closed! The process became a bit stressful as the family wanted to use their local bank in the valley, and the parents were co-signing. However, this bank was primarily an AG bank and did not close on very many condos.

Buyers rarely understand at the onset what a difference a great lender can make and the lasting experience everyone involved will have. If it is a great experience, the impression is minimal, but when it is not so great, it can become one of your worst nightmares. This ultimately ended well because of the family’s relationship with the local bank, yet, we still needed an eight-day loan contingency extension (but only closed four days late).

If you want to be the next client who buys or sells a property with me, I will help you navigate the process to a successful close! Just reach out at www.kristinlanham.com or call me direct at (925) 899-7123.

Following Up: Honeybees!

A few weeks back, we did the Parkmead Garden Tour. I spoke to one resident who is a honeybee keeper. In addition to the Beekeeper who was there to speak, I learned a lot about honeybees.

For example, did you know that a honeybee has to travel more than 55,000 miles and has to visit about 2 million flowers just to produce one pound of honey? Or that they can fly 15 miles per hour? 

Beekeeping is a hobby that seems to be picking up popularity, especially around the Bay Area. Much like composting, its attraction is that it’s a sustainable, healthy way to provide for oneself and the community around us. It’s been common knowledge for years that the bee population is quickly dying off, and their extinction would have a horrific effect on the planet’s ecosystem.

So, I also snagged some basic information on beekeeping resources around the Bay Area! If you want to learn more about the Mt. Diablo Beekeepers Association (MDBA), visit this link! If you’re interested in starting beekeeping, you can find supplies at MarElla Honey B’s in Concord, Biofuel Oasis/Urban Farm Store in Berkeley, and many others around the Bay Area.

If you’d simply like to attract more bees to your garden to help increase the population and improve your pollination, plant flowers that they like! For example, blackberries and raspberries, fireweed, lavender, oregano, rosemary and sunflower are a few that really attract heavy pollination.  

Here are a few more fun facts for you to finish out our blog on honeybees:

  • A typical beehive makes more than 400 lbs of honey per year
  • A honeybee will flap its wings about 11,400 times per minute, creating the familiar “buzz” sound
  • Honeybees are responsible for approximately 80 percent of all fruit, vegetable and seed crops in the U.S.

So when you see a bee nearby, don’t run or swat at it, but think of the good they do and then briskly walk away!

The VA loan is the best loan going!

With Memorial Day around the corner and a time to honor and remember all the brave heroes who served to hold our flag high, I thought it would be a great time to mention the benefits of a VA loan and what is currently happening in that arena.

There’s a bill in Congress that eliminates loan limits for the VA. The current VA limit for Contra Costa is $636,150, so eliminating the limit will help our vets who qualify for more to still be able to purchase with their VA benefits. I specialize in working with VA buyers and sellers, and have a strong passion for it given my family’s history in service.

There is also a rebate available of up to $2,500 in Contra Costa County for qualified buyers with approved lenders. I can connect you with a qualified lender. The VA loan is the best loan around  –  low rates, nothing down, 25% of the loan is backed by the federal government, lowest loan foreclosure rate, plus many additional changes over the years to help make a VA offer be accepted such as the seller no longer has to pay for the pest inspection.

Did you also know, you are eligible for a VA loan after 90 days active duty in wartime (we are still considered in wartime which started with the Gulf War)? You are eligible after two years of service if no longer on active duty  and six years of service in the National Guard or Reserves.

If you’re a veteran looking to buy or sell in the Bay Area or know somebody who is, please give me a call so we can get the ball rolling on helping you land a rebate and get your VA loan accepted!

Pending home sales are down in CA – what does it mean?

According to the California Association of Realtors, pending home sales have dialed back and marked the weakest February in three years.

Courtesy mcar.com.

Low housing inventory, eroding affordability and rising interest rates made pending sales on a year-over-year basis for the month of February suffer after a good start to the year in closed escrow sales. Also, sellers simply aren’t selling.

They did see elevated market activity, but the Bay Area pending sales specifically were down year-to-year for the fifth straight month. According to the release, the Bay Area has been plagued by a shortage of homes on the market and poor affordability.

We have seen an increase in listings starting in April, but with pent-up demand, buyers are getting frustrated losing out in multiple-offer scenarios and with ever-increasing prices.

If you want to know more about the market, give me a call!

Opportunity Knocks?

At 55 Crest Ave. in Alamo, you might see a “best of both worlds” type home. It’s a 0.84 acre lot, the land is appealing, and because of that, they’re listing at $795,000.

But if you’re waiting to move into the 21st century, this may not be the place for you. Believe it or not, this run-down old place had almost 50 disclosure packages requested because of its location and potential.

I personally know a few people who are interested in the renovation project, with the knowledge that a remodeled home in that area may sell for much more later on.

Of course not all buyers who request a disclosure package will write, but I suspect they got at least 15 offers, the opportunity is too great even if the property sells for one million, it is surrounded by $1,500,000-$2,000,000+ homes.

There was a combination of speculators looking to flip it and disgruntled buyers who have lost out on homes and think it might be worth building their dream home. It just goes to show that the Bay Area real estate market is crazy red hot right now – it is a seller’s market.

If you are thinking of buying in or around Walnut Creek, give me a call! I’d love to help you.

Happy Easter from my clients!

This is why I do real estate. How awesome are these pictures and the nice messages from a client who clearly loves their new house? It’s moments like this that remind me why I love this job so much!

“Happy Easter, Kristin! We had our first formal family dinner at our house today and even broke in the fine china and family silverware.”

Looking for your dream home?

1154 Glen Rd. in Lafayette has it all. As realtors, we occasionally get preview invites to see a home before it goes on the market. Last Thursday, there was a private viewing of this spectacular home with wine, cheese and homemade chocolate chip cookies baking that created a cozy feeling.

 

 

 

 

 

 

 

This coveted Happy Valley street is one of my favorites. The home was originally built by Nobel Prize winner Glenn Seaborg in 1951. The current owner completely remodeled it in 2009, adding on this high-beamed family room to the original L-shaped layout.

I love how this stone fireplace is the centerpiece of the living room. The current owner is a real estate agent and has a knack for remodeling homes, living there for a while, and then moving on to the next project. In this case, the same street just a few doors down will get the next updates to this mid-century neighborhood.

Two of my favorite features were the Jack-n-Jill bathroom where there is a laundry shoot cabinet to the laundry room on the other side, and the mud room next to the garage, as well as another outdoor entrance to store the backpacks and shoes upon returning home.

 

 

 

 

 

The master bedroom was added on with high, vaulted ceilings, doors to the pool area and an amazing bathroom. All this can be yours for $3,650,000. For more information and better photos, check out this home here.