June 2023 Market Update

Welcome Summer!

As Craig and I are getting ready for our annual mountain biking trip to Whistler B.C., I wanted to share some residential housing market info as we all head into what we hope will be a Great Summer!

In this month’s issue:

  • Housing is bigger than the stock market here in the US
  • Some financial housekeeping that we all should do and its pretty quick
  • Student loan payments are coming back soon
  • This month’s major Bay Area county housing statistics are in!
  • A few fun things to do/eat around the Bay
Housing is bigger than the stock market .png

Housing is bigger than the stock market here in the US!

The market cap of the Standard and Poor’s 500 sits at $36.7 trillion. The total value of all U.S. public companies is $40 trillion. The U.S. residential real estate market, on the other hand, is worth $43.5 trillion. Clearly, much of our country’s wealth is concentrated in homes, making the real estate housing market the biggest asset class in the country and likely the world.

Should home prices increase by 1.2%, as they did from March to April of 2023, then an additional $522 billion in wealth will be created. Read more here

 

Some financial housekeeping .png

Some financial housekeeping that we all should do and its pretty quick!

With many of us having worked for a few employers along the way, it’s easy to have our 401(k) plans scattered about. a good reminder to help simplify things in terms of consolidating these. consolidation of 401k’s do not cause a taxable event and simplified life, including potential fee/ admin costs. check out the article below. Read more here.

 

Student loan.png

Student loan payments are coming back soon!

With many of our clients facing student loan repayment obligations, and therefore impacting how much home you can qualify for, I am sharing these tips from nerdwallet on what to do, to get prepared once these payments resume again in the next few months.

When you are prioritizing qualifying for a home mortgage, lenders advise that you repay it over as long as possible of a timeframe and almost all student loan administrators are willing to extend payment terms if you contact them with a request. When you are not currently making payments, lenders are required to “assume” some level of payment, as they know these are coming back. With this all in flux though, make sure you speak with your administrator and don’t make any assumptions! I can also connect you with lenders that work with student loan situations in a more flexible way.

Federal student loans will start accruing interest again on Sept. 1, and payments will be due starting in October. With forgiveness in doubt, use this extra time wisely. Read the article here

 

Bay Area Housing Market Update

The number of homes and condos sold are up in all counties except for San Francisco.

Alameda.png
Contra Costa.png
San Francisco.png
Santa Clara.png

Fun Things To Do In And Around San Francisco Bay Area This Weekend

Stern Grove Festival: Enjoy free outdoor concerts featuring various genres of music at Stern Grove Park. On June 24, you can catch Snarky Puppy and Isaiah Sharkey, and on June 25, you can see Indigo Girls and Neko Case.

 

https___cdn.evbuc.com_images_500211569_53780354051-9900000000079e3c.jpeg

 

Circus Bella’s ‘Bananas’: Watch an open-air circus show featuring acrobats, aerialists, jugglers, and clowns at various locations around the bay area. The show is free and fun for all ages. Catch them at the Yerba Buena Gardens Festival

Friday, June 23, NOON

Saturday, June 24, NOON and 2:15 pm,

Mission between 3rd and 4th Sts, San Francisco

 

YBGF_CircusBella_5-9900000000079e3c.jpg

 

New El Cerrito Restaurant Showcases Guatemalan Home-Style Cooking. A new Guatemalan restaurant that grew out of a Richmond food truck is drawing more customers in search of good eats to El Cerrito. Antojitos Guatemaltecos (11252 San Pablo Ave.) is serving up traditional Guatemalan cuisine in an unassuming but pleasant storefront on San Pablo Avenue near Potrero Avenue.

 

Screenshot2023-06-22at10.11.31AM-990000079e04513c.png

Explore Latest News

National Real Estate Insights – May 2024

Prices, Inventory & Sales Continue to Rise Moving Deeper into Spring. Inflation & Interest Rates Fall; Stock Markets Hit New...

Bay Area Housing News

In this month's letter: - National home sale trends - prices still UP year over year - My video on...

National Real Estate Insights – April 2024

Prices, Listings & Sales Rise, But Economic Indicators Turn Cloudier Year over year, the median single-family-home sales price in March...