Harold McCray, Real Estate Broker Dept. RE #1174320

Harold McCray, Real Estate Broker Dept. RE #1174320 Real Estate and Mortgage Info

Options for First-Time Homebuyers [INFOGRAPHIC]With a housing market this competitive, sometimes you have to think outsi...
08/20/2021

Options for First-Time Homebuyers [INFOGRAPHIC]

With a housing market this competitive, sometimes you have to think outside the box. Work with your trusted real estate advisors to do things like assess your budget, expand your search radius, look into other options, and determine your true needs. DM me today if you're having trouble finding your first home so we can explore options together. It's out there!


Buying, Selling, Refinancing - 415-323-4135

Some Highlights With a housing market this competitive, sometimes you have to think outside the box. Work with your trusted real estate advisors to do things like assess your budget, expand your search radius, look into other options, and determine your true needs. If you're having trouble finding y...

More Young People Are Buying HomesThere’s a common misconception that younger generations aren’t interested in homeowner...
08/19/2021

More Young People Are Buying Homes

There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.

It’s partially true that some millennials have waited on homeownership to focus on other things in their lives – and that’s impacting certain housing market trends. Data from the National Association of Realtors (NAR) indicates the average age of a first-time homebuyer is higher today than it’s been over the past 40 years. But just because millennials are hitting certain milestones later in life doesn’t mean they’re not interested in becoming homeowners.

The recent U.S. Census reveals a significant increase in homeownership rates for millennials and other young homebuyers. Millennials are entering the market in...


Buying, Selling, Refinancing - 415-323-4135

There’s a common misconception that younger generations aren’t interested in homeownership. Many people point to the fact that millennials put off purchasing their first home as a reason for this belief.

Real Estate: It’s Still a Lack of Supply, Not a Lack of DemandDo prospective homebuyers still believe purchasing a home ...
08/18/2021

Real Estate: It’s Still a Lack of Supply, Not a Lack of Demand

Do prospective homebuyers still believe purchasing a home makes sense? Some claim rapidly rising home prices are impacting demand and, by extension, leading to the recent slowdown in sales activity.

However, demand isn’t the real issue. Instead, it’s the lack of supply (homes available for sale). An article from the Wall Street Journal shows this is true for new home construction. “Home builders have sold more homes than they can build. Now they are limiting their sales in an effort to catch up.”

Again, the buyers are there. We just need houses to sell to them. If the slowdown in sales was the result of demand waning, we would start to see home prices beginning to moderate – but this isn’t the case.

There’s a shortage of listings, not buyers, and there are three very good...


Buying, Selling, Refinancing - 415-323-4135

One of the major questions real estate experts are asking today is whether prospective homebuyers still believe purchasing a home makes sense. Some claim rapidly rising home prices are impacting demand and, by extension, leading to the recent slowdown in sales activity.

What Does Being in a Sellers’ Market Mean?There’s a good chance you’ve heard we’re in a serious sellers’ market. But wha...
08/17/2021

What Does Being in a Sellers’ Market Mean?

There’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

It starts with the number of houses available for sale. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows housing supply is still astonishingly low. Today, we have a 2.6-month supply of homes at the current sales pace. Historically, a 6-month supply is necessary for a ‘normal’ or ‘neutral’ market in which there are enough homes available for active buyers.

When the supply of houses for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which leads to more bidding wars. And if buyers know they may be...


Buying, Selling, Refinancing - 415-323-4135

Whether or not you’ve been following the real estate industry lately, there’s a good chance you’ve heard we’re in a serious sellers’ market. But what does that really mean? And why are conditions today so good for people who want to list their house?

A Look at Home Price Appreciation and What It Means for SellersNo matter the industry, anytime there’s more demand than ...
08/16/2021

A Look at Home Price Appreciation and What It Means for Sellers

No matter the industry, anytime there’s more demand than supply, prices naturally rise. It happens because buyers are willing to pay more to secure the scarce product or service they’re looking for. That’s exactly what’s happening in today’s real estate market. Buyers are competing with one another to purchase a home, leading to bidding wars that drive prices up. For sellers, the rising prices mean opportunity is knocking.

According to Quicken Loans, the national average home price appreciation rate is between 3-5% in a typical year. Today, home prices are appreciating well beyond the norm thanks to high demand. Compared to the normal pace of 3-5% appreciation per year, the current average forecast of nearly 11.5% is significant.

For sellers, this means that with the current rise in...


Buying, Selling, Refinancing - 415-323-4135

When you hear the phrase home price appreciation, what does it mean to you? Through context clues alone, chances are you know it has to do with rising home prices. And as a seller, you know rising home prices are good news for your potential sale. But let’s look past the dollar signs and dive deep...

Sellers Are in a Sweet Spot [INFOGRAPHIC]In today’s sellers’ market, you’re set up to win big when you list your house. ...
08/13/2021

Sellers Are in a Sweet Spot [INFOGRAPHIC]

In today’s sellers’ market, you’re set up to win big when you list your house. That’s because homes are selling fast, receiving 4.4 offers on average and often selling above the asking price. Then, when you buy your next home, you’ll also win by addressing your changing needs and taking advantage of near historic-low mortgage rates. If you’re ready to make a move, DM me so you can capitalize on today’s market and find your next dream home.


Buying, Selling, Refinancing - 415-323-4135

Some Highlights In today’s sellers’ market, you’re set up to win big when you list your house. That’s because homes are selling fast, receiving 4.4 offers on average and often selling above the asking price. Then, when you buy your next home, you’ll also win by addressing your changing nee...

The Best Use of Time (and Money) When It Comes to RenovationsIn the current sellers’ market, many homeowners wonder what...
08/12/2021

The Best Use of Time (and Money) When It Comes to Renovations

In the current sellers’ market, many homeowners wonder what, if anything, needs to be remodeled before they list their house. That’s where a trusted real estate professional comes in. Here are some considerations a professional will guide you through:

>>With current supply challenges, buyers may be willing to take on projects of their own.
According to a recent report by the National Association of Realtors (NAR), our current supply of homes for sale, while rising, still remains solidly in sellers’ market territory. So, what’s that mean for you? If you’re a seller trying to decide whether or not to renovate, this is especially important because it’s indicative of buyer behavior. When there aren’t enough homes for sale, buyers may be more willing to purchase a home that doesn’t meet all their...


Buying, Selling, Refinancing - 415-323-4135

In the current sellers’ market, many homeowners wonder what, if anything, needs to be remodeled before they list their house. That’s where a trusted real estate professional comes in. They can help you think through today’s market conditions and how they impact what you should – and shouldn....

Are Houses Less Affordable Than They Were in Past Decades?There are many headlines about how housing affordability is de...
08/11/2021

Are Houses Less Affordable Than They Were in Past Decades?

There are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a home today than it was a year ago. However, it’s important to give this trend context. Is it less expensive to buy a house today than it was in 2005? What about 1995? What happens if we go all the way back to 1985? Or even 1975?

Obviously, the price of a home has appreciated dramatically over the last 45 years. So have the prices of milk, bread, and just about every other consumable. Prices rise over time – we know it as inflation.

However, when we look at housing, price is just one component that makes up the monthly cost of the home. Another key factor is the mortgage rate at the time of purchase.

When adjusted for inflation, there were only two times in the last 45...


Buying, Selling, Refinancing - 415-323-4135

There are many headlines about how housing affordability is declining. The headlines are correct: it’s less affordable to purchase a home today than it was a year ago. However, it’s important to give this trend context. Is it less expensive to buy a house today than it was in 2005? What about 19...

Looking for a Place To Call Home? Consider a Condominium.There are a few reasons more and more people are opting to buy ...
08/10/2021

Looking for a Place To Call Home? Consider a Condominium.

There are a few reasons more and more people are opting to buy condos – the benefits of condo life can be quite compelling. Let’s explore the main perks to find out if a condo is a good fit for you.

>>Affordability
According to the NAR report, the median sales price of a condo is roughly $59,000 less than the median price of a single-family detached home. This makes condos a great option for first-time homebuyers, those with limited down payment savings, or those looking to save money by downsizing.

>>Maintenance
A recent article from BankRate adds low maintenance as another perk of a condo-lifestyle. Generally, exterior maintenance for condos is handled by a Homeowner’s Association (HOA). This can include things like landscaping and upholding a certain standard of cleanliness and condition for...


Buying, Selling, Refinancing - 415-323-4135

It’s no secret that one of the top stories in today’s real estate market is low housing supply and high buyer demand. If you’re a first-time buyer looking for a starter home or are someone who’s interested in downsizing, it may be worth considering a condominium (condo) as a worthwhile optio...

The Community and Economic Impacts of a Home SaleIf you’re thinking of buying or selling a house, chances are you’re foc...
08/09/2021

The Community and Economic Impacts of a Home Sale

If you’re thinking of buying or selling a house, chances are you’re focusing on the many extraordinary ways it’ll change your life. What you may not realize is that decision impacts people’s lives far beyond your own. Home purchases and sales are significant drivers of economic activity. They have a major impact on your community and the entire U.S. economy via the multiple industries and professionals that take part in the process.

The National Association of Realtors (NAR) releases a report each year that highlights just how much economic activity a home sale generates. An existing home sale contributes $45,600 to the economy. For a newly built home, that number’s $93,800. As you can see, a single home sale can have a massive effect on the overall economy. Ali Wolf, Chief Economist for Zonda...


Buying, Selling, Refinancing - 415-323-4135

If you’re thinking of buying or selling a house, chances are you’re focusing on the many extraordinary ways it’ll change your life. What you may not realize is that decision impacts people’s lives far beyond your own. Home purchases and sales are significant drivers of economic activity. The...

Ready To Sell, but Don’t Know Where You’ll Go? [INFOGRAPHIC]If you’re thinking of selling your house but don’t know what...
08/06/2021

Ready To Sell, but Don’t Know Where You’ll Go? [INFOGRAPHIC]

If you’re thinking of selling your house but don’t know what you should buy, you have options. Existing homes offer a wide variety of home styles, an established neighborhood, and lived-in charm. Meanwhile, new home construction lets you create your perfect home, cash in on energy efficiency, and minimize repairs. Whether you’re looking for newly built or existing homes, both have their perks. If you’re ready to sell your house, DM me today to go over the perks of both existing and newly built homes to find out what’s right for you.


Buying, Selling, Refinancing - 415-323-4135

Some Highlights If you’re thinking of selling your house but don’t know what you should buy, you have options. Existing homes offer a wide variety of home styles, an established neighborhood, and lived-in charm. Meanwhile, new home construction lets you create your perfect home, cash in on energ...

Surprising Shift Favors Homeowners: Buyers Now Prefer Existing HomesIn April, the National Association of Home Builders ...
08/05/2021

Surprising Shift Favors Homeowners: Buyers Now Prefer Existing Homes

In April, the National Association of Home Builders (NAHB) posted an article which reported, “60% of people who were looking to buy a home in 2020 said they'd prefer new construction to an existing home.” However, it seems buyers are now shifting their preference back to existing homes.

The latest Consumer Confidence Survey reveals the percentage of Americans planning to buy a home in the next six months is virtually the same as it was back in March. However, the percentage that plan to buy a newly constructed home is lower for that same period. NAHB confirms that existing homes are now the top preference among today’s buyers.

Why the shift? There are several reasons why buyer preference is shifting. Here are two that impact purchasers looking to move-in now:

>>The process may move...


Buying, Selling, Refinancing - 415-323-4135

In April, the National Association of Home Builders (NAHB) posted an article, Home Buyers’ Preferences Shift Towards New Construction, which reported:

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