Weekly Update 1-20-2015

This week we have tips for you from an article we found interesting as well as from our newsletter. Enjoy!

5 Golden Rules of Home Staging

Team Patereau Newsletter for January, 2015

Contact Us:

1. Comment here!
2. Phone 408-981-2799
3. Email spatereau@interorealestate.com
4. Website TeamPatereau.com
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6. Twitter @susan_patereau
7. Really? Aren’t 6 ways to contact us enough?

Weekend Wellness - The Acts of Kindness

By Tammy Parkinson
CPT, ACSM, NASM, Nutritionist
Body Firm Personal Training & Nutrition

Kindness.  To me, there is not many greater gifts than someone being kind.  This past weekend a new client of mine asked my husband and I to come to his restaurant for dinner so he could make us his best pizza.  Well, if you know me...I don't eat pizza; however I glanced at the menu and knew I could create something.  I mostly wanted to say hello, enjoy a quick salad and get on with the last weekend before Christmas.  I mean, I had a list a million sheets thick to take care of.  I was practicing being "present", though, so upon our journey there, I let go of obligations and figured we'd stay maybe an hour; calculating in the back of my mind that I still had time to wrap presents if we were home in another hour and a half.

After a full tour of his impeccable 20 year old establishment and introductions to all his staff, Ali led us over to a table made up just for us.  He brought over his special eggplant creation, homemade baklava (I'm on my no sugar challenge so my husband had to step up here and have some!) a glass of wine for each of us, freshly made bread (again, my husband "had" to step up here) and then proceeded to ask us about our lives.  He was genuinely interested in "us" and spent time inquiring.  When we arrived, I asked for some lemon with my water.  After about 10 minutes I thought he had forgotten.  Then to my surprise, one of his employees was asked by Ali to run to his house down the street and pick us about 10 fresh lemons from his tree!  Ali knew I loved them and he was at close of business so was running out. 

Intero Insider: Home Sales Slip During Winter Lull

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

The first monthly home sales numbers of 2014 came out late last week, giving us a peek into the year ahead. The prognosis? It’s been a harsh winter in much of the country, impacting America’s appetite for moving.

Perhaps to no one’s surprise, existing-home sales slowed down in January, falling to their lowest level in a year and a half in the National Association of Realtors’ latest report. Total sales, which include townhomes, condos and co-ops, fell 5.1% to an adjusted rate of 4.62 million in January from December, and were 5.1% below the pace seen in January 2013.

It was the slowest month since July 2012.

What’s causing the slowdown and do we need to worry?

Intero Insider - Are Homes Still Affordable in the U. S.?

By Gino Blefari, President & CEO, Intero Real Estate Services, Inc.

Who would've thought in 2012 that just two short years later we'd be hearing talk and worry over housing affordability in the U.S.? Well it's here. And with affordability comes the inevitable talk of housing bubbles.

A rapid growth in home prices will conjure up these worries and debates every time. And that's exactly what's happening in some parts of the country – mostly the west.

The median existing single-family home price climbed in 73% of metropolitan markets in the fourth quarter of 2013 from the previous year, according to a recent National Association of Realtors report. Forty-two of the metropolitan areas tracked in the report, or 26%, had double-digit increases, while two were unchanged and 43 recorded lower median prices.

The five most expensive housing markets in the fourth quarter were all in the west: San Jose, Calif., where the median existing single-family prices was $775,000; San Francisco at $682,400; Honolulu at $670,800; Anaheim-Santa Ana, Calif., at $666,300; and San Diego, where the median prices $476,800.

The five least expensive housing markets in the fourth quarter were Toledo, Ohio, where the median single-family home price was $80,500; Rockgord, Ill., at $81,400; Cumberland, Md., at $89,500; Elmira, N.Y., at $99,500; and South Bend, Ind., with a median price of $101,100.

Rising values in the west has been a good thing for homeowners who've seen significant gains in equity – in some cases enabling them the freedom to sell for the first time in several years. This housing activity is also helping to drive local economies through increased consumer spending.

But in some cases, home prices have risen faster than incomes, which impedes some buyers from getting in. That's where affordability concerns start to come into play.

This is also the segment of the market that will be impacted the most by any spikes in mortgage rates, which could stand to price out some buyers.

What we're looking for now in these rapidly rising markets is an increase in housing supply. A lack of available homes is the culprit behind much of the fast pace.

The average supply of homes during the fourth quarter was 4.9 months, up slightly from 4.8 months during the fourth quarter of 2012. However, NAR points out that a supply of 6-6.5 months represents a balance between buyers and sellers. So you can see why there's such frenzy in certain markets right now.

Housing supply will continue to play a large role in affordability this year. Things to watch out for include housing starts for new construction and hopefully a big spring home buying season that spurs more owners to put their homes on the market.

Gilroy's Mayor - An Interview

Had a chance recently to spend some time with Gilroy’s Mayor Don Gage. Hosted our Public Access TV station’s first-in-a-series about the Mayor, and the workings of the City of Gilroy. Here’s the first show.

Intero Prestigio - Latest Issue

Here's the latest issue of Intero Prestigio, our magazine of luxury properties for sale. Please take a look at these beautiful properties, and contact us if you would like to take the first step to make one yours.

Happy Valentine's Day

Intero Insider: Falling In Love with a House

By Gino Blefari, CEO, Intero Real Estate Services

Obviously, realtor.com put together this survey to have a little fun before Valentine’s Day. But do these emotional connections hurt or help buyers and sellers in the long run?

Real estate is highly emotional. We all knew this. But now we have statistics to show just how much this is the case for typical home buyers.

Monday Morning Mojo: Ride or Get Run Over!

By Tom Tognoli, COO & Founder
, Intero Real Estate Services, Inc.

When you woke up this morning, were you fired up and excited to improve…find a way to do it different…do it better…be innovative…change? So many people fight it…trying to stay the same and play it safe because things are okay and it’s working…they don’t want to rock the boat, take risks, and ruin a good thing.  Unfortunately, if you don’t look for a better way…trying to improve everyday, you will wake up one day and everything around you will have changed and it will be too late…it will seem like it happened overnight without warning and what caused your success in the past, both personally and professionally, will be the cause of your demise.

Change is an exciting thing.

When you just let go and don’t fight it the opportunities are endless and everything will just flow…if you resist and fight, you are in for a battle filled with disappointments and hard work that don’t produce much of anything.  It is like standing on a railroad track trying to stop a train going 100 mph…you just can’t do it…its not possible.  So, you can jump on the train and enjoy the ride, or get run over…it’s your choice.

Luxury Insider: The Year of the Condo

By Alain Pinel, General Manager of Intero Prestigio international, Intero Real Estate Services, Inc.

In the real estate residential arena, as everybody knows, the dynamic duo is made of Single Family Homes and Condos. In some towns, SFH represent 100% of the housing stock. In some districts of large cities, condos (together with co-ops) represent 100% of the stock. For the most part, they cohabit in harmony, as they serve different needs for different people.

Since towns, at this point and going forward, are far more likely to grow vertically than stretching horizontally due to the lack of buildable space where people want/need to live and work, condos keep on mushrooming very quickly on the land.