Jenn Pfeiffer - The Jenn Pfeiffer Team

December 4, 2023

In the Bay Area, 1 in 4 millennials (and 3 in 4 Gen Zers) still live at home

High cost of housing is keeping young adults with their parents longer than past generations BY Ethan Varian | The Mercury News After Kelly Zhao earned a master’s degree in ethnic studies from UCLA last year, she followed the lead of so many other young graduates thrust into a competitive job market: She moved back in with her parents while she looked for work. Upon returning to her childhood home in Pittsburg, Zhao, 25, soon found a job with a local advocacy group, making around $70,000 a year. But even then, she said, renting an apartment just doesn’t make financial sense right now, especially while contributing around $1,500 a month...

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November 30, 2023

Living, News

Home Prices Still Growing – Just at a More Normal Pace

From our friends in KCM If you’re feeling a bit muddy on what’s happening with home prices, that’s no surprise. Some people are still saying prices are falling, even though data proves otherwise. Part of that misconception is because people are getting their information from unreliable sources. But it’s also coming from some media coverage misrepresenting what the data really shows. So, to keep things simple, here’s what you really need to know using real data you can trust. Normal Home Price Seasonality Explained In the housing market, there are predictable ebbs and flows that happen each year. It’s called seasonality. Spring is the peak homebuying season when the market is most active. That...

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November 29, 2023

News

Landlord convicted of soliciting arson buys SF apartment complex

City and nonprofit scramble to thwart the deal, which works out to $150K per unit By: The Real Deal A landlord convicted of arson-for-hire is buying an affordable apartment building in San Francisco’s Mission District — unless a local nonprofit can raise enough cash to kill the deal. Richard Earl Singer and his SF Hotel 447 firm have bought the 18-unit complex containing the nearly 50-year-old Eddie’s Cafe at 800-812 Divisadero Street, the San Francisco Chronicle reported, citing Supervisor Dean Preston and an unidentified broker behind the sale.Singer is under contract to buy the three-story building for $2.7 million, or less than $150,000 per unit when including the ground-floor cafe. The...

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November 28, 2023

Living, News

Is the Housing Market Overvalued? What Buyers Need To Know

By Clare Trapasso | REALTOR.COM Is the housing market overvalued? It’s an increasingly fraught question, and the answer might depend on who’s being asked. Some real estate experts believe home prices are well above what they should be and expect them to begin coming down. Others think the high prices make sense given how many people are still in the market looking for properties, despite mortgage rates nearing 8%. “If you look at how much income homebuyers are putting toward their housing payment, if the number is not the highest ever, it’s really darn close,” says Realtor.com® Chief Economist Danielle Hale. No one wants to buy a home at the peak of the market—and...

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November 27, 2023

Living

A 30-Year Trap: The Problem With America’s Weird Mortgages

One big reason the U.S. housing market is broken: Owners don’t want to give up their cushy old loans. By: Ben Casselman | New York Times Buying a home was hard before the pandemic. Somehow, it keeps getting harder. Prices, already sky-high, have gotten even higher, up nearly 40 percent over the past three years. Available homes have gotten scarcer: Listings are down nearly 20 percent over the same period. And now interest rates have soared to a 20-year high, eroding buying power without — in defiance of normal economic logic — doing much to dent prices. None of which, of course, is a problem for people who already own homes....

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November 22, 2023

Living

Are There Actually More Homes for Sale Right Now?

From our friends in KCM If you’re looking to make a move, you want to be sure you have the latest information on the housing market. To help make that possible, here’s an update on the supply of homes for sale today. Whether you’re looking to buy or sell, the number of homes available in your local market matters to you. Take a look below. What’s the Truth About Today’s Housing Inventory? While the story for the past few years has been how few homes are on the market, recent national data may leave you feeling a bit confused. That’s because Realtor.com shows inventory is actually growing a bit month-over-month in many parts of the country...

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November 21, 2023

Living, News

5 Oldest Homes for Sale in America—All Built in the 1600s

By Lisa Johnson Mandell | REALTOR.COM As we prepare our Thanksgiving table, our thoughts might turn to the very first people who started the American holiday. There’s one fascinating fact you might not think about: The settlers sure knew how to build a shelter back then. In fact, some of the homes that were built during the 1600s are still standing, and some are even on the market. In the spirit of the season, we did some sleuthing and found the five oldest homes for sale in America right now, in good living condition, despite being built not too long after the first Thanksgiving in the 1600s! One is a grand riverfront estate,...

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November 20, 2023

Living

Marin maintains presence in ranking of priciest ZIP codes in U.S.

By: Kate Talerico | Marin Independent Journal The Bay Area, with its million-dollar views and multimillion-dollar enclaves, has kept its status as the most expensive metropolitan area in the United States. The region’s ZIP codes make up 37 of the top 100 most expensive ZIP codes in the country, according to a new 2023 ranking by real estate data company PropertyShark that examined median home sales prices. Marin County has six ZIP codes on the top-100 list, led by Stinson Beach at No. 6. Its ZIP code, 94970, had a median home price of $4.5 million last year, according to the analysis. Debra Allen, a Coldwell Banker Realty agent who was involved in...

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November 17, 2023

Living

Annual Rent Increase for 3/1/24 – 2/28/25 Announced

BY: SF.GOV For rent-controlled units, the annual allowable increase amount effective March 1, 2024 through February 28, 2025 is 1.7%. November 17, 2023 For rent-controlled units, the annual allowable increase amount effective March 1, 2024 through February 28, 2025 is 1.7%. This amount is based on 60% of the increase in the Consumer Price Index for All Urban Consumers in the Bay Area, which was 2.8% as posted in November 2022 by the Bureau of Labor Statistics. To calculate the dollar amount of the 1.7% annual rent increase, multiply the tenant's base rent by .017. For example, if the tenant's base rent is $2,000.00, the annual increase would be calculated as follows: $2,000.00...

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November 16, 2023

Lifestyle

Sea rise costs pose “critical issue” and opportunity for developers

By: The Real Deal Bay Area regulators look to private sector to fill $105B funding gap for mitigation When Landsea Homes acquired a development site fronting the Alameda Estuary in 2021, it knew it would have to pay for more than just the land. The site faced a projected 24 inches of sea rise, so Landsea spent another $12 million on resilience projects to keep its development safe. It built an $8.7 million sea wall, and spent several million more on an underground storm drain system and utilities, according to its Northern California President Josh Santos. It also shouldered time-related costs for the additional coastal approvals. There was something in...

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Author: Jenn Pfeiffer

In the Bay Area, 1 in 4 millennials (and 3 in 4 Gen Zers) still live at home

Home Prices Still Growing – Just at a More Normal Pace

Landlord convicted of soliciting arson buys SF apartment complex

Is the Housing Market Overvalued? What Buyers Need To Know

A 30-Year Trap: The Problem With America’s Weird Mortgages

Are There Actually More Homes for Sale Right Now?

5 Oldest Homes for Sale in America—All Built in the 1600s

Marin maintains presence in ranking of priciest ZIP codes in U.S.

Annual Rent Increase for 3/1/24 – 2/28/25 Announced

Sea rise costs pose “critical issue” and opportunity for developers

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