Homes by Leslie SG

Homes by Leslie SG Enjoy posts on local homes, the real estate market in general, and unique architecture from around the world.

12/23/2022
01/13/2022

Do you know:
* The real estate investment firm Hines is raising its first fund to buy and renovate struggling or undervalued properties across the U.S. The fund aims to raise $1 billion in equity, which would give it purchasing power of $2.5 billion, including debt.....prepare for the year of the INVESTOR BUYER! (BLOOMBERG)

01/03/2022

Happy New Year!

Low interest rates and low inventory = continued seller's market.

* In January 2020, the inventory of both existing and new US homes for sale stood at 1.6 million. By comparison, the peak in homes available for sale was 3.9 million homes mid 2007. Since then, the U.S. population has grown by 31 million. Starting 2022 inventory totals 1.5 million. (Barrons)

12/03/2021

* Michelle Meyer, Bank of America’s head of U.S. economics, predicts the gross domestic product to be 6% stronger in 2021 compared with last year, and expand another 4% in 2022 and 2% in 2023. Inflation will likely cool down next year, but Meyer sees it remaining well above the target, and that will push the Federal Reserve to take action. The central bank will likely start raising interest rates from June next year, said Meyer, who expects to see three hikes in 2022, four in 2023, and one more in 2024. (BOA)

10/23/2021

Can this be true?

* Goldman Sachs projects that home prices -- already at record highs -- will grow another 16% by the end of 2022. Despite price increases of 20% over the past year, the analysts at Goldman Sachs suggest that homes remain "relatively affordable" thanks to historically low mortgage rates. But continued strong demand among buyers and ongoing low inventory will keep pushing prices even higher, according to the report. Mortgages have risen recently, but far, far from historic highs. (CNN)

10/20/2021

Did you know....

Demand for single-family rental homes is showing no sign of easing up, and that is pushing rents through the roof, especially for the highest-priced properties. Investors are now flooding into the market again, after falling back a bit during the first year of the Covid pandemic. Nationally, rents rose 9.3% in August, year over year, up from a 2.2% year-over-year increase in August 2020. There are several reasons for the investor demand:

1. Worldwide bond yields are at historic lows, and investors need yield.
2. Inflation is on the rise, and most investors view rental homes as an inflation hedge.
3. Record high rent growth is supported by high occupancy rates.
4. Renters have demonstrated that they are willing to pay a premium to rent in a new home neighborhood managed by a professional landlord. (CNBC)

Last week was the busiest week of the year in San Mateo County for offers on single family homes.  By a landslide. Since...
09/27/2021

Last week was the busiest week of the year in San Mateo County for offers on single family homes. By a landslide. Since returning from the Labor Day Weekend and all of August, we're seeing a massive increase in buyer activity. The next four weeks should be very busy, and then the holidays come...Ping me if you'd like more information.

Migration in 2020 is real.  It happened. It is still happening.  But home prices around much of the Bay are still high. ...
09/02/2021

Migration in 2020 is real. It happened. It is still happening. But home prices around much of the Bay are still high. We are still seeing multiple offers and homes selling for hundreds of thousands over asking. More inventory is slated to hit the market soon. This should 'normalize' our market, but only time will tell!

08/23/2021

From our Chief Evangelist, Leonard Steinberg:

* A slowdown in single-family house demand? HAH! Tricon Residential - a Toronto company operating one of the largest pools of U.S. rental homes - struck a home-buying pact with the Teacher Retirement System of Texas, Pacific Life Insurance and another foreign investor, for the purchasing power of about $5 billion to buy single-family houses to rent. Tricon, with about 25,000 U.S. rental homes as well as several apartment complexes in the U.S. and Canada expects to buy about 18,000 houses. (WSJ).

It's quite difficult to 'time the market'.  Will our housing prices continue to rise? Or are we in for a slight correcti...
08/11/2021

It's quite difficult to 'time the market'. Will our housing prices continue to rise? Or are we in for a slight correction in the next few years? This chart shows the historical benefit of home ownership. If you're planning to stay in the Bay Area for more than a few years, it's good to 'get in'.

So many reasons why the real estate market is so HOT right now!  Below are a few.  But will the market begin to slow thi...
06/08/2021

So many reasons why the real estate market is so HOT right now! Below are a few. But will the market begin to slow this summer as more people travel?

With low inventory and historically low interest rates, most homes in San Mateo County continue to sell quickly and for ...
05/15/2021

With low inventory and historically low interest rates, most homes in San Mateo County continue to sell quickly and for record prices. Yes, as described below, more people are moving out than in. Crazy that this has not negatively affected our market.

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Burlingame, CA
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