A Quick Market Update for the Alamo/Danville Area

It is a buyer’s market in the Alamo/Danville area, but as a buyer, you still need to be patient and be smart when you buy.  

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Today I am joined by my father Terry McDaniel to share the latest news from our Alamo/Danville market. Right now, the numbers tell us it is a great time to buy.   

In Alamo, there are 38 homes available for sale, and the median asking price for these homes is $2.15 million. There are also 27 pending properties, which is almost ideal because you usually want to see a 1:1 ratio between available properties and pending properties. The median price of these pending homes is $1.7 million. 

These stats indicate that the lower part of the market is the most active, while the upper part is starting to see homes with price adjustments of $50,000, $75,000, and even $100,000. This kind of thing is typical when interest rates are rising, so be patient and be smart when you buy. 

Remember—you only make money when you buy; you don’t make money when you sell. There are a number of properties that have not hit the market yet, and prices are not rising at the crazy rate that they previously were. If you are a buyer, these facts should help you during your negotiations with sellers 

In Alamo, there are about 5,500 homes in total. In Danville, there are about twice as many. To find the home that is right for you, it is very important that you calibrate for each price range and move in $250,000 increments. 

Make sure you pick the very best property you can buy.

Also, make sure you plot out the houses. The west side of Alamo, for instance, is going to be more expensive as far as lots go. The lot values in that area are between $1.3 million and $1.5 million, which is an increase compared to when they were worth between $900,000 and $1.2 million four years ago. Can they continue to go up in value? Absolutely. Will they continue to go up in value? Absolutely. Home values can rise and fall, but in 10 to 20 years, you will be glad you bought a property now. A leveraged asset in residential real estate is a great way to accommodate your family’s future. There are many ways to buy property, so don’t assume you can’t afford it. If you talk to us, we can make it happen for you. If you are interested in discussing the market further with my father or you would like to know the value of your home, you can reach him by phone at (925) 838-4300. As always, if you have any other questions for me or you have any real estate needs at all, please feel free to reach out to me. I would love to help you.

How Much Do You Pay Uncle Sam in Property Taxes?

Today I’ll give you an idea of what you should expect to pay in property taxes and how you’ll pay that amount.  

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How much money do you need to pay Uncle Sam when it comes to your property taxes? Let’s find out. 

Let’s say your home is worth $200,000 and your tax rate is 1.5%. This means on an annual basis, you’d pay $3,000 (or $250 per month). There can be additional taxes, fees, and assessments added to this number, so double-check with your tax assessor to make sure you’re paying the right amount. 

Now that you have an idea of what you’ll have to pay, you need to figure out how you’ll pay it. This part is actually pretty simple. If you’re paying a mortgage, you’ll most likely have an impound account set up with your lender. Every single month, your lender (or whoever holds your note) will collect money out of that account for insurance purposes or property tax purposes. They’ll then put that money into an escrow account so it can be paid when it’s due. 

Your mortgage payment and your property tax payment are separate.

This is important to note because a lot of people think that they pay their property taxes along with their mortgage. In reality, these payments are separate from each other. If you don’t have a mortgage, it’s your responsibility to make your property tax payment to your tax assessor or the tax board. If you have any questions about property taxes, you have any other real estate questions, or you’re thinking of buying or selling a home in our market, don’t hesitate to call or email me anytime. I’d be glad to help you.

Fun in the Bay: Summer 2018 Edition

It’s time for our Fun in the Bay: Summer 2018 Edition. There are some great events happening in our area this year, and I can’t wait to share them with you. 

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Today I’m dressed for summer because it’s time to talk about Fun in the Bay: Summer Edition. Here are a few great events that you should check out: 

1. Danville Area Community Harvest. The harvest takes place on May 5 from 10 a.m. to 1 p.m. Meet at the Danville Park and Ride right next to the 680 freeway. We will be harvesting backyard fruits for donations to local soup kitchens, food pantries, shelters, and the food bank.

Harvests typically take about three hours, and you’ll travel no more than 25 miles from the starting location. We will have all of the necessary equipment, including buckets, picking poles, ladders, clippers, and crates with us.

Make sure that you wear closed-toe shoes and appropriate clothing for the weather. You may also want to consider bringing water, a snack, a hat or sunglasses, gardening gloves, and a brown bag to take some fruit home for yourself. 

You can learn more about The Urban Farmers at www.theurbanfarmers.org.

We hope you have a great summer and enjoy these events!

2. How Weird Street Faire. The theme this year is The Disco Ball Inferno! The festival season starts on May 6 at 2:22 p.m. (how weird!) in downtown San Francisco at Howard and 2nd street. Join thousands of people in colorful costumes from around the world who have come together to celebrate peace, creativity, and Weirdness. There will be dancing in the streets and 10 stages of great music, along with fantastic foods, unique vendors, and visionary art. This whole Faire is dedicated to inspiring creativity. You can learn more at HowWeird.org. 3. The San Francisco Beer and Music Festival. Starting at 6 p.m. on June 2 in Union Square, you’ll be able to enjoy the sunset and party into the night. You can try unlimited samples of over 10 craft beers, wine, and spirits. There will also be live bands and a deejay to get the crowd on their feet. There will also be plenty of food. You can learn more at SanFrancisco-BeerFestival.com. 4. Music in the Park—The Big Jangle. Go to Danville Oak Hill Park on June 23 from 6 to 8 p.m. There will be music by The Big Jangle and a Tom Petty and the Heartbreakers tribute band. Bring some chairs, blankets, and coolers and enjoy a harmonious evening. I hope you have time to check out these awesome events. As always, if you have any real estate questions, just give us a call or send us an email. We would be happy to help you!

A Quick Market Snapshot for April 2018

Here is a quick update on what’s going on in the Danville housing market. 

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I’m coming to you today with a short educational video about what’s going on in the Danville market this spring.

Currently, our median sales price is $1.25 million. In the last year, our values have come up by $80,000, or 7%, on each of our home values. That is not a sustainable increase; 4% to 5% is pretty normal, but 7% is a pretty good jump.

If you’re thinking about cashing out, this is the opportunity to do it.

Our market right now is a seller’s market, so if you’re thinking about selling or would like to find out about home values in the area, please feel free to contact me. Let us help you find your home’s value. If you’re thinking about cashing out, this is the opportunity to do it. I look forward to hearing from you.

Why Choose Positivity?

The choice to be kind is in your hands. It isn’t always easy, but I’d like to challenge you to try. 

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We’ve all encountered toxic people, but what’s the best way to handle these individuals? To start out, let me tell you a story. I was recently making a few follow-up calls when I encountered a gentleman who seemed to be generally angry with life. A lot of things were said in the conversation that I could have reacted negatively to, but I decided to do something against that impulse. This gentleman was upset at me having called his elderly mother, who had expressed interest in selling her home with me. He insinuated I was harassing her, which obviously wasn’t my intention. But instead of reacting with a negative attitude, I defended my position and asked him to help me understand his. I allowed the gentleman to explain his position, then de-escalated the situation by expressing empathy and solidarity. I offered to take him out of my database, apologized for the situation at hand, and ended the conversation.

You have the choice to remain positive.

Even though I still felt slightly shaken up by what had just happened, I was able to step away from the situation knowing I chose not to let it get out of hand. We have this same choice in every interaction we’re a part of. You can and should always choose kindness. People may push our buttons, but you always have the choice to remain positive. Always remember that we have no way of knowing what another person is going through, so try to avoid falling into negative behavior. I know this isn’t related to our usual topics, but I do think it’s important. So, take this message and apply it in your daily life. If you have any other questions, would like more information, or need help with any of your real estate needs, feel free to give me a call or send me an email. I look forward to hearing from you soon.