Cracks in the Foundation

No matter the size, a crack in the concrete foundation holding up your home is a big deal, and like any household pest, a crack doesn’t come alone. It always has buddies. How can you spot them, and what can you do about them?

CHIC (Pearl)

If you find vertical cracks, it could mean your home is still settling, but that doesn’t mean you should let it lie. It’s best to hire an inspector to get to the bottom of the issue. Horizontal cracks are a bigger problem and could mean compromised integrity caused by poor construction, excessive moisture, or other stress. Once you spot these cracks, you could already be well on your way to a major repair job.

GEEK (Kevin)

It’s always smarter — and cheaper — to fix the problem as soon as you find it rather than wait around for it to miraculously fix itself. Getting on top of a small crack now could save you from deeper structural issues and a whole lot of headaches later. But your foundation is a project you shouldn’t necessarily take on yourself. If you need a referral to a good contractor, send us an email!

Geek's Number Talk: Where’s all the housing?

A lot of Bay Area cities are blaming each other for the housing shortage we’re all experiencing, but the truth is we aren’t building enough new housing anywhere, and we haven’t for a while.

Permits were issued for 119,636 new homes statewide in 2021 – just two thirds of the projected need – and this year it’s expected to be even less, with only a fraction in Santa Clara County. If this comes to pass, it will be the 30th year out of the past 35 that California has failed to meet housing production goals. And even permitted projects face false starts and stall outs due to shortages of labor and materials, as well as ever-present community pushback.

Bottom line: Unless hundreds of thousands of new homes are built this year and for many years thereafter, Bay Area home prices will continue to rise, and this will continue to be a seller’s market.

Chic vs. Geek: Buying from a Builder

Are you thinking of buying a new construction project directly from the builder? Here are some things you need to know before you sign the contract...

CHIC (PEARL)

We know what you’re thinking: Buying a brand new home sounds like a dream. No creaky floors, no skeletons in the closet, and no surprises in the crawlspace. But you can’t judge a book by its cover. Just like old homes, new constructions come with their own set of potential pitfalls. We suggest you have the home professionally inspected before making any commitments.

GEEK (KEVIN)

The most important thing to remember when you’re buying a brand new construction is that you can’t take anything for granted. A builder will recommend their preferred lender, but shop around for multiple quotes to be sure you’re getting the best deal. And watch out for hidden defects, missing necessities, and pricey upgrades and upsells. Here’s more advice to help you through.

Chic vs. Geek: Macroeconomics

Real estate economists are reading the tea leaves from the first half of 2021 to predict what the housing market will look like for the rest of the year and into 2022. What are they finding?

CHIC (PEARL)

Based on early returns from 2021, national real estate economists are predicting a surge in supply from new home construction, the winding down of mortgage forbearance due to COVID-19, and a higher level of consumer confidence thanks to widespread vaccinations.

GEEK (KEVIN)

Higher home prices and higher mortgage rates will also create less demand. That means properties will remain on the market longer, leading to less hurried decisions for homebuyers. Meanwhile, rental prices will slowly increase with inflation. (More in Number Talk later this week!)