Lynne Tran Real Estate Team

Coming soon... Triplex in the heart of Santa Monica. All 3 fully updated and separate units with private fenced yards. Premier location steps from Santa Monica College and nearby shops. Just 2 miles to the beach. Dense and affluent neighborhood. This can be a multi-generation home with 3 houses on one lot, or can be rented for up to $11.5K/month. Only lot on the block zoned as Neighborhood Commercial. It can be an excellent development opportunity into a mixed use complex. The deep lot allows for building up to 4 townhouses or condos worth $2M each. Will be listed for $2.88M. PM Lynne Tran team for more details.

Want to Build Wealth? Buy a Home This Year. Every year, households across the country make the decision to rent for another year or take the leap into home ownership. They look at their earnings and savings and then decide what makes the most financial sense. That equation will most likely take into consideration monthly housing costs, tax advantages, and other incremental expenses. Using these measurements, recent studies show that it’s still more affordable to own than ren...t in most of the country. There is, however, another financial advantage to owning a home that’s often forgotten in the analysis the wealth built through equity when you own a home. Odeta Kushi, Deputy Chief Economist for First American, discusses this point in a recent blog post. She explains: Once you include the equity benefit of price appreciation, owning made more financial sense than renting in 48 out of the 50 top markets, with the only exceptions being San Francisco and San Jose, Calif. What has this equity piece meant to homeowners in the past? ATTOM Data Solutions, the curator of one of the nation’s premier property databases, just analyzed the typical home-price gain owners nationwide enjoyed when they sold their homes. Here’s a breakdown of their findings: The typical gain in the sale of the home (equity) has increased significantly over the last five years. CoreLogic, another property data curator, also weighed in on the subject. According to their latest Homeowner Equity Insights Report, the average homeowner gained $17,000 in equity in just the last year alone, in spite of the COVID-19 pandemic. What does the future look like for homeowners when it comes to equity? Here are the seven major home price appreciation forecasts for 2021: The National Association of Realtors (NAR) just reported that today, the median-priced home in the country sells for $309,800. If homes appreciate by 5% this year (the average of the forecasts), the homeowner will increase their wealth by $15,490 in 2021 through increased equity. Bottom Line As you make your plans for the coming year, be sure to consider the equity benefits of home price appreciation as you weigh the financial advantages of buying over renting. When you do, you may find this is the perfect time to jump into home ownership. When it comes to making such a big decision, expertise matters. Contact Lynne Tran Team. We’ll be glad to discuss a plan that fits your needs and timeline.

An overview of Evergreen 95148 Market in 2020. The median list price increased from $1.1M last January to a peak of $1.3M in March then comes back down to 1.1M today, not because prices have decreased but because more smaller homes were sold at higher $/sqft. Proof: the average price per square foot has continuously risen from $539 last January to $708 this year, a 31.3% increase. After a run up in the summer, inventory has continued to decline from 21 last August to just 9 this week, driving prices higher. The market this week has been red hot. 100+ showings and 30+ offers are common. If you are thinking of buying or selling, working with local experts to devise a strategy will give you the best chance at success. Contact the Lynne Tran Team. We’ll be glad to help.

We will also likely see a continuing effect (of the work-from-home trend) as buyers move away from the downtown corridors and into the suburbs and rural areas. A fundamental change resulting from COVID may also manifest in a preference for single-family homes over multi-family units. (MLS Listings, Jan 2021). It's happening in Morgan Hill. Prices of townhouses and condos were stagnant or trending lower in 2020 although inventory was very very low. Meanwhile, prices of single family homes kept rising. Local expertise matters. When you are ready to buy or sell, contact Lynne Tram Team. We'll be glad to help.

The Morgan Hill market was red hot in 2020. Expect the trend to continue in 2021. If you are ready to sell, contact the Lynne Tran Team.

We closed four homes this month to the delight of our clients. If you are thinking of selling or buying, we're here to help. Contact us via phone, text, email or FB Messenger.