Daniel Shi - California Real Estate Broker

05/02/2020

【Small but Effective Ways to Boost Your Mental Health Right Now】~ https://thriveglobal.com/stories/tips-to-improve-mental-health-awareness-stress-anxiety/

04/03/2020

【Jobless rate jumps to 4.4% in March】 ~

Employers cut 701,000 jobs last month, the first drop in a decade and a foretaste of projected job losses to come as the coronavirus pandemic sweeps the labor market.

03/26/2020

【Declining interest rates bolster February home sales and price pre-COVID-19 outbreak, C.A.R. reports】~ https://www.car.org/aboutus/mediacenter/newsreleases/2020releases/february2020sales

03/16/2020

【Market News & Recap】
~ The US Treasury may push back the tax filing deadline due to coronavirus concerns.
~ Mortgage bankers double 2020 refinance forecast.
~ Mortgage applications hit highest level since 2009.

~ The National Federation of Independent Business (NFIB) small-business optimism index improved slightly in February to reading of 104.5.

~ Mortgage applications surged for the week ending 3/13. New purchase applications increased 6.0% and refinance applications jumped an unprecedented 79.0%.

~ In February, the consumer price index increased slightly up 0.1% month-over-month, driven by higher rent and grocery prices. Excluding food and energy costs, the index is up 0.2%.

~ The weekly jobless claims report shows no signs of coronavirus-related layoffs for the week ending 3/7. Initial jobless claims declined to a level of 211,000. Continuing claims also dropped to a level of 1.72 million.

~ In March, the consumer sentiment index tumbled from a level of 101.1 to 95.

03/12/2020

【】Update on Coronavirus Market Impacts】 ~ https://www.car.org/knowledge/pubs/newsletters/newsline/covid31120

03/07/2020

【Investors' Opportunity for just $800,000】
~ 4-Townhome Project at the ready-to-build stage for $200,000 each townhome.
~ Seller will obtain all the permits and provide you with the building plans.
~ Plan to build four 2-story townhomes (1350 SQFT each), two of 3BR/2BA units, two of 4BR/3BA units.
~ Parcel land approx. 6,283 SQFT slope, on LAGUNA AVE, Oakland, CA.
~ Zoning RM-3: city allows more dense construction on the lots over 4,000 SQFT with a maximum lot coverage of 40% when all the city requirements are met.
~ The total price for 4-townhome project at the ready-to-build stage is $800,000.
~ Estimated cost of the construction is $1,600,000.
~ Less than 20 min (14 miles) by car to Downtown of San Francisco.
~ Approx. 50 min to San Francisco by public transport.
~ Parks and Lakes are within 2-3 miles.
~ 5 miles away from Downtown Oakland.
~ Quiet and safe area of Oakland.
~ Walking (10 min.) to Peets Coffee, CVS, Safeway, Farmer Joe's Marketplace, etc.
~ Progress:
1. Lot is cleared from vegetation
2. Soil and topographic surveys have completed
3. Architectural and civil plans prepared
4. Submitted application to the city to build 4 townhomes, 1350 SQFT each.

***** Ask Daniel for more details *****

03/06/2020

***Source: Mercury News***
Bay Area home prices have started to pick up, with cautious buyers stepping back into the market amid low inventory and steady demand.

The median sale price in January for single-family homes rose, year-over-year, in Santa Clara, San Mateo, Alameda and Contra Costa counties, according to a new Zillow analysis. The biggest risers were in tech-heavy San Mateo, where the median sale price increased 6.3 percent to $1.47 million, and Santa Clara, with the price up 2.7 percent to $1.21 million...read more ~ https://www.mercurynews.com/2020/03/02/bay-area-home-prices-regaining-momentum/

03/03/2020

Here’s how long stock market corrections last and how bad they can get ~ https://www.cnbc.com/2020/02/27/heres-how-long-stock-market-corrections-last-and-how-bad-they-can-get.html

02/28/2020

MILLION THANKS to all my FB friends who liked this page! Let me know if I'm missing any key information you're looking for :)

02/28/2020

Coronavirus fears could push mortgage rates past 4-year low ~ Source: CNBC
As coronavirus fears hit financial markets, U.S. bond yields are tanking, pushing mortgage rates that loosely follow the 10-year Treasury yield toward a four-year low. They could sink even lower.

The average rate on the popular 30-year fixed mortgage hit 3.34% on Monday, according to Mortgage News Daily. That is for borrowers with strong financials and credit scores.
https://www.cnbc.com/2020/02/24/coronavirus-fears-could-push-mortgage-rates-past-4-year-low.html

02/28/2020

84% of Americans say homeownership is a ‘priority’ ~ Source: Inman
Although median home prices have been on the climb for almost eight years, Americans are still holding onto the dream of homeownership, according to Nerdwallet’s 2020 Home Buyer Report released on Tuesday. In a survey of more than 2,000 adults, 84 percent said homeownership is a ‘priority,’ a nine percent increase from 2019.

Making sense of the story:

Eleven percent of Americans plan to purchase a home by 2021, while another 39 percent are expecting to make a purchase by 2025.
More than half of millennials (53 percent) and gen-Zers (57 percent) want to become homeowners within the next five years, compared to 42 percent of gen-Xers and 23 percent of baby boomers, who have likely already made their first home purchase.
For the 16 percent of Americans who said homeownership isn’t on current their to-do list, insufficient income (42 percent) and an inability to save for a down payment (37 percent) were the most significant roadblocks. Affordability is even an issue for current homeowners, with 23 percent saying a lack of reasonably-priced listings is preventing them from moving up.
https://www.inman.com/2020/02/25/84-of-americans-say-homeownership-is-a-priority/