California Real Estate Forecast for 2020

sebfreyBlog, Local, Santa Cruz Real Estate, Silicon Valley Real Estate, Video

As you may have heard, I recently became a Broker Associate with Compass in Los Gatos (the former Alain Pinel REALTORS). There are a lot of benefits to working with a large, upscale brokerage – one of them being that you can get access to valuable information before the competition. Yesterday, our office had the first meeting of the year and it featured a feature presentation by Jordan Levine, the Deputy Chief Economist for the California Association of REALTORS. I have also seen many presentations by Jordan’s boss, Leslie Appleton-Young, and I even had her as a guest on an episode of the Bay to Bay Podcast. Jordan, by the way, is also a podcaster as he is the co-host of California Association of REALTORS Housing Matters podcast. Video of California Real Estate Forecast for 2020 The presentation was about 40 minutes long, as there was a lot to digest in there. The bottom line is that the 2020 real estate market is expected to look a lot like the 2019 real estate market: tight inventory, low interest rates, poor affordability, but with slightly more sales at somewhat higher prices (statewide, but the greater Bay Area should be an exception). Key Points for California’s 2020 Real Estate Forecast Housing prices may be up, but actual mortgage payments are down Lowest Unemployment in 50 Years Prices at the very high end softening, lower priced homes rising in price. Higher-end homes taking longer to sell U.S. 2020 GDP Projected @ 1.6% (down from 2.2% in 2019) U.S. Inflation … Read More

2019 REALTOR Installation Speech

sebfreyBlog, Video

Thank you for braving yet another ferocious northern California rainstorm to be with us today at our 2019 Installation.  I’ve been fortunate to get to attend a couple other installations lately – in Monterey, and San Benito and they were great opportunities to get to meet and connect and re-connect with colleagues from our adjoining communities.  I’d like to thank all the brokers, agents, and staff who’ve traveled here from Santa Clara AOR, Silicon Valley AOR, MontereyAOR, and San Benito  AOR.  I hope that everyone here has had the opportunity to meet someone new and learn something about what’s going on in our adjoining marketplaces.  I’d also like to extend a very special thanks in particular to Jeanne Radsick, CAR president-Elect for 2019, who came all the way from Bakersfield to be with us today – thanks Jeanne! After a long, hard fought and divisive campaign to become your 2019 President, I think we all need to come together to fight the biggest threat to our industry. What’s that?  In a word, it’s apathy. And I’m not saying you all gathered here are apathetic – because today, you showed up.  And a lot of you show up for many of our meetings.  You are involved. And you not only show up for our meetings – you show up at county supervisor meetings, city council meetings, planning commission meetings, RTC meetings.  You write your representatives and urge your clients to do so as well.  You know that good things don’t just happen.  They happen because people who care … Read More