What’s Next?

Market Update
Author

Kyle Paquin

Published

November 15, 2024

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Optimism is a great. Realism is fine. Pessimism sucks.

We all tell ourselves stories of the market. Last month we told ourselves the story of “FINALLY THE RATES ARE GOING LOWER”. Then they shot right back up.

Ouch.

Now we are in a different story. A post-election, new-year-on-the-horizon phase and most of the people I talk to sense a large pent up demand for housing on both buyers and sellers. How long can people wait? For some, they just can’t afford it. For many, they just need to tell the right story.

What story are you telling yourself?

Mortgage and Me

This section is the summary of the ongoing sitcom, “Mortgage and Me”, where you get news of what the banks are doing and how it affects us all.

Mortgage Rates: Riding a Roller coaster like its going out of style

Down, then back up, and now stalled. Something has to give next year.

Refinance Volume: Rate Oversensitive

Refinancing crossed the its historic low threshold last month (1000+) then collapsed when rates went back up. It seems that refiance activity is not enduring as time goes on. Simple math- Lower rates = More Refis.

East Bay Area Market Update

East Bay Area October Yearly Trends

Alameda, Contra Costa, Solano
2023 2024 % Change
Median Price 925255 930000 0.5%
Average Price per SF 606 618 2.0%
Number of Sales 1458 1757 20.5%
Median DOM 14 15 7.1%
Copyright © EBValueReport.com

Need a Referral?

I have a growing list of local professionals who can service your needs, send me an email if you need someone to help a client with:

  • Home Loans

  • Home Insurance

  • Construction

  • Commercial Brokering (Sales and Leasing)

  • Estate Planning

  • Financial Management

  • Rural or Out of Area Appraisal

  • Window Treatment Cleaning

Services for Agents

Post-Listing Appraisals

Your listing isn’t moving? Maybe your seller needs a second opinion on price or an unbiased “bad cop” to give them the raw truth. Let me be the bad guy and help you move to a closing sooner.

Divorce/Estate Appraisals

If you have client that needs appraisal work for estate, taxation or ligation purposes, we can help! Our firm services the East Bay Area, but we have a wide network of referrals and resources available for your clients.

About the Author

My name is Kyle Paquin.

I have been a Certified Residential Real Estate Appraiser since 2015 within the East San Francisco Bay Area. My firm provides expert valuations on residential properties in the region. I have a passion for teaching and appraiser education which has led me to develop instructional courses for the Real Estate Appraisers Association (REAA). I currently live in Benicia where I operate a mid-term rental ADU with my wife and child.

The divide between agents, appraisers and lenders is not healthy for our clients. I aim to bridge the gap between us all so we can serve the market with a higher level of trust, integrity and knowledge. The mission of this blog is to provide greater clarity into how the East Bay Area markets are moving on a monthly basis. If you like this work or think that it sucks, please let me know.

My contact information

Office #: 925-937-3307

Email: office@valuableappraisal.com

Website: https://www.valuableappraisal.com/

Thanks for reading this market update