Chic vs. Geek: Year In Review

2021 has been a truly historic year in real estate, and to prove it, we’re serving up a feast of information with a side of market stats. Dig in!

CHIC (PEARL)

Empowered by low interest rates, a record number of home buyers found their forever homes. 31% of all home buyers were first-time buyers, and 92% of agents agree low interest rates continue to boost buyer demand. According to the National Association of Realtors, the median price of a U.S. home was $356,700 in 2021, a 14.9% increase from one year prior. 53% of agents report that inventory in their market is rising modestly as of Q3, and 76% of agents say homes may get multiple offers but with fewer bids per home.

GEEK (KEVIN)

Nationwide, 95% of agents report it’s still a seller’s market, no matter where you look. 46% of agents say buyers will use savings from simplified living during the pandemic to afford homes in the current environment, while 45% of agents are seeing buyers turn to relatives or generational wealth to fund their home purchases. 37% of agents have seen buyers liquidate gains in stock market wealth to put toward a home, and 64% of agents in the Pacific region have seen a recent increase in ADUs/in-law units thanks in part to newly reduced regulations.

As we celebrate the holidays, we want to express our appreciation for you and all of our clients. From Santa Rosa to Santa Cruz, thank you for choosing us to help you find your place in the world. Please reach out for insights on your next move, and never hesitate to provide us with a referral!

Winter Gratitude: What we have. What we can give.

Tuesday might mark the official Winter Solstice, but we’re already feeling the season’s first chill. That’s why we’re grateful for the roof over our heads and the hot cup of cocoa in our hands, and we pause to offer comfort to those who are not so fortunate this time of year.

Please consider donating to a local charity doing good things in your community. If you need suggestions, the Silicon Valley Council of Nonprofits put together this guide.

Geek's Number Talk: CPI hits 39-year high in November

The Bureau of Labor Statistics reported Friday that consumer price inflation (CPI) rose 6.8% over a 12-month period ending in November and reached its highest level since June 1982. This shouldn’t surprise anyone who’s been out shopping for the holidays, with prices soaring and supply chain shortages creating inventory backlogs. CNN has more.

Chic vs. Geek: Preparing for Disaster

Most homeowners don’t think about tragedies like tornados, wildfires, and floods until it’s too late. But Californians have learned to prepare for the worst.

CHIC (PEARL)

When you live in a region that literally moves and shakes with unpredictable regularity, you owe it to yourself to invest in earthquake insurance. The California Earthquake Authority (CEA) is a reliable resource with a variety of options for owners of single-family homes, condos, and RVs. They also offer policies to protect renters..

GEEK (KEVIN)

You can pay for all the insurance you want, but if you truly want to protect your home and the loved ones inside from the next “big one”, you should consider a full seismic retrofit. Visit the CEA website to learn about the most common hazards and vulnerabilities and how to find a good contractor to help make your home more resilient.

Chic's Picks: Holiday Fun in Silicon Valley

We don’t know about you, but this pandemic has us missing live theater, music, and other arts and cultural activities. That’s why we’re excited to see the return of holiday events that are sure to bring joy to the season. Palo Alto Weekly put together this list.

There are so many beautiful places in the Bay Area, and we feel so privileged to experience them. One of those places is the Filoli Historic House and Garden in Woodside. Earlier this week, we stopped by for Holidays at Filoli and wandered through a garden of sparkling lights.

These pictures can’t do it justice. We recommend seeing it for yourself. You’ll feel like you’re Alice in Wonderland! Get more info on the Filoli website.