Tom Khorram, Real Estate Sales & Finance

San Francisco is once again experiencing a tech revival 🔥

Entrepreneurs and investors are flocking back to the city, which is undergoing a boom in artificial intelligence. Silicon Valley leaders are influencing local politics, investing in safety, and backing businesses.

Startups are being encouraged to come back to the Bay Area and bring their employees back into the office.

Investment in Bay Area startups dropped 12% to $63.4 billion in 2023. By contrast, funding volumes for Austin, Texas, and Los Angeles, two smaller tech hubs, dropped 27% and 42%, respectively.

Stay tuned for more interesting information 🙂

🏠 Housing news: Construction of apartments slowed down, impacting housing starts. Single-family homes continue to show promise, but challenges like rising land costs and potential interest rate increases loom.

Positive signs include rising single-family building permits, increased builder confidence, and a decline in price-cutting reported by the National Association of Home Builders. Despite a recent dip, single-family starts are still ahead of last year, hinting at optimism.

Stay tuned for more housing market updates!

Source: Zillow.com

Ever considered living in a 3D-printed home? These innovative homes are changing the game, built layer by layer with concrete blends.

The affordability of a 3D-printed home comes from a lot of different directions. Building a 3D-printed home requires less labor and reduces job site waste compared with a traditional stick-built home, even though the only change is that the walls are made of concrete instead of wood. The other way that 3D-printed homes will ultimately become more affordable for homeowners is by simply being more energy efficient 🌱

So, are you ready for the future of living?

Source: realestate.usnews

Gen Z is choosing California for their homes!

Zillow’s data shows that even with pricey living, Gen Z is drawn to job opportunities and education. Flexibility in living standards matters more to them.

Zillow found 77% of Gen Z adults moving to California, Washington, Colorado, or Virginia are renters. And each of these states, according to census data, had higher monthly rental housing costs than the U.S. median price of $1,300 — led by California at $1,856 per month.

Did you know? San Francisco office visits surge by almost 25% in 2023, marking a significant step forward in the city’s wider office recovery! 🔥

While still below pre-pandemic levels, this boost is a welcome sign for those seeking ‘green shoots’ in the market. 📈 The trend also holds true nationally, with a 6.6% rise in office visits last year. Miami follows closely with a nearly 14% increase, now boasting the most recovered office occupation numbers, only 20% off 2019 figures.

Source: therealdeal.com

San Francisco approved new housing 🔥

The Board of Supervisors just gave the green light to a new 24-unit condo building in Pacific Heights. The decision came after rejecting efforts to delay the project for additional environmental review.

The project includes adaptive reuse of the former private library for Cooper Medical College and eight stories of housing.

Source: San Francisco Chronicle

Stay tuned for more local news 🙂

Considering rent-reporting services to boost your credit score? 💳
Make sure the service reports your payment habits to all three major credit bureaus — Equifax, Experian, and TransUnion. Different lenders use different bureaus, so broad reporting increases your credit-building impact.

Source: cnbs.com

Thank you for the kind words! It was a pleasure helping you find your dream home. Your satisfaction is my top priority, and I’m grateful for the trust you placed in me 🏠

If you or anyone you know is looking to buy or sell, I’m here to assist every step of the way.

415-997-9440
[email protected]

Did you know? Baby boomers own around 37% of the San Francisco metro area’s large homes, according to recent Census Bureau data 🏡

Despite being just 20% of the population, they often choose to stay put, enjoying lower mortgage rates and unique tax benefits. Millennials, facing housing affordability challenges, own only 18% of large homes.

Source: San Francisco Chronicle

The Federal Reserve opted to keep its key rate elevated.

This could mean lower mortgage rates, making it a good time for homebuyers 📉 The Fed’s decision is aimed at controlling inflation, and experts believe this might be the end of rate hikes for now. While higher rates can be tough for buyers, the current pause could lead to more affordable mortgages.

Source: bankrate.com

If you or anyone you know is looking to buy or sell, I’m here to assist every step of the way.

415-997-9440
[email protected]

Did you know? San Francisco secures the 3rd spot among the Best Places to Live on the West Coast!

Ranking 12th for desirability among the 150 most populous metro areas, the City by the Bay offers an impressive average annual salary of $86,590, surpassing the national average. 💼 While the high income balances the cost of living, potential residents should be prepared for the competitive housing market.

Source: realestate.usnews

Anticipate a potential dip in mortgage rates this year, with experts forecasting a gradual decline throughout 2024. Projections vary, but some suggest rates could hover around 6.5%, while others anticipate a drop to 6% by year-end. Here’s what forecasters have to say about their predictions for this year:

• Fannie Mae: Rates will decline to 6.5%.
• Realtor.com: Rates will decline to 6.5%.
• NAR: Rates Will Decline to 6.3%.
• MBA: Rates Will Decline to 6.1%.
• Wells Fargo: Rates Will Decline to 6%.

Source: usnews.com

Did you know? Financial analyst Meredith Whitney is pointing towards a potential "silver tsunami" in the housing market!

With baby boomers entering a new phase of life, around 30 million homes could soon become available, reshaping the real estate landscape.
Experts anticipate a gradual process unfolding over several years. Not every boomer will sell; some may opt to pass on their cherished properties to their loved ones.

Source: usnews.com

Utopian California city in Solano County 🔥

The proposed city in Solano County now has an official map, revealing ambitious plans for affordable homes, cutting-edge technology, and efficient public transit. California Forever, the driving force behind the project, is filing the East Solano Homes, Jobs, and Clean Energy Initiative with the Solano County Registrar of Voters. With over 13,000 signatures from county voters, the initiative could go to the polls this November.

Source: SFGATE
📸 California Forever

Rent prices are dipping with rising inventory – good news for Gen Z entering the housing market! Building credit is key, especially as the median U.S. asking rent declined by 0.8% in December. Here are detailed steps to boost your credit score:

• Leverage Bills You Routinely Pay: Traditional bills like utilities and internet service may not directly impact your credit score, but programs like Experian Boost, StellarFi, and UltraFICO allow you to build credit based on these payments. Some even report rental payments, contributing to a positive credit history.
• Become an Authorized User: Align yourself with someone who has a strong credit history, like a parent. By becoming an authorized user on their credit card, you can benefit from their positive credit behavior.
• Consider a Secured Credit Card: Especially beneficial for those new to credit, a secured credit card requires a security deposit.

Source: cnbc.com

Wishing you continued happiness in your Pacific Heights home!👍🌟

I’m dedicated to providing excellent service and ensuring my clients achieve their goals in the competitive real estate market. If there’s ever anything more I can do for you or anyone you know, please don’t hesitate to reach out.

415-997-9440
[email protected]

Did you know? 🤔

The S&P 500 bid farewell to 2023 with a resounding 24.2% surge, the DOW ascended by 13.7%, and the NASDAQ stole the spotlight with an impressive 43.4% jump.

What does that mean for real estate? It means most luxury home buyers are invested in the markets either via separate portfolios or retirement accounts and this always boosts confidence in the economy.

Source: CNBC

Happy Martin Luther King Day! 😊👍 Congratulations on celebrating the principles of unity, justice, and equality.

In 2024, $117 billion of commercial mortgages linked to office spaces are set to face a crucial crossroads – either repay or refinance. 📉🏦

Data from the Mortgage Bankers Association unveils a significant challenge, especially for loans secured a decade ago when interest rates were more forgiving.

Amidst rising rates, the performance of numerous buildings has declined, posing potential challenges for investors and signaling possible losses.💼🏢

Source: Financial Times

In the ever-evolving world of real estate, integrating smart technology has become a game-changer, and one remarkable addition is smart cameras! 📹🔒

🌐 Remote monitoring
💰 Insurance premium savings
🛡️ Smart cameras offer a 24/7 watchful eye on your property, providing an extra layer of security
💼 Investing in smart home technology enhances your property’s appeal and market value

Ready to explore homes equipped with these smart solutions? Let’s find your perfect, secure haven together! 🤝🔐

📲415.997.9440

Photo Credit: gensecurity.com

Dive into a world where creativity meets technology under the starry Napa skies! 🌌 Explore the enchanting Downtown Napa with 10 captivating lighted art sculptures.✨🌙

📅 January 20th - January 28th
🌃 Downtown Napa
🕒 Fri-Sat 6-10pm | Sun-Thu 6-9pm

Witness iconic downtown buildings transformed into canvases for breathtaking projection artwork.🎨🎆

Follow for more info!
Photo Credit:

The year 2023 concluded with a financial crescendo, and the numbers speak volumes! 🚀 The S&P 500 soared by a remarkable 24.2%, the DOW secured a robust 13.7% increase, and the NASDAQ experienced an astounding 43.4% surge. But what does this mean for the world of real estate? Let’s delve into the insights:

The flourishing stock market translates into heightened confidence in the economy, a sentiment that often resonates within the real estate realm. Luxury home buyers, often intricately linked to the markets, find increased assurance in property investments.

The allure of real estate as a secure and lucrative investment intensifies, shaping a favorable landscape for both buyers and sellers.📊

Source: CNBC

Let’s explore what awaits the housing market in 2024, according to experts.🌟📈

1. Mortgage rates easing: 📉
Recent weeks have witnessed a dip in mortgage rates, providing hope for buyers navigating affordability challenges.

2. Growing supply: 🏡
As rates ease, the housing market is poised for increased activity. The anticipation is that more buyers and sellers, previously on hold, will re-enter the market.

3. Home price growth moderation: 📉
Fannie Mae’s Home Price Expectation Survey foresees a moderation, projecting slower growth in 2024 and 2025.

Connect with me to stay updated on the latest forecasts and navigate your homeownership journey with confidence. 🌐🤝

📲415.997.9440

Source: Keeping Current Matters

May the coming year bring you success, happiness, and prosperity. Happy New Year! 🌟🎉

Cash or Mortgage?💭

You’re getting a 4.25% return on your cash, but the mortgage rates are at 6%. Where should you park your cash?💸🔍

A 4.25% cash return may seem promising, but with mortgage rates at 6%, the question arises: Could your cash be working even harder? 🤯💼 Consider that embracing a mortgage might open doors to real estate investments, a potential pathway to long-term growth and financial prosperity. 🏡💰

Share your insights in the comments!

After a year of grappling with record-high interest rates and soaring housing costs, the winds of change are favoring homebuyers! 🔐💹

In a notable shift, average mortgage rates have descended below 7%, signaling a positive turn from the peak at 8% in October. 📉💸

These lower interest rates not only pave a path for homeowners but also herald the promise of an augmented home supply, expanding choices in the housing market. 🏘️🔄 For first-time buyers, the golden opportunity may arise as early as February, unveiling a tranquil market to explore.

Ready to start your homeownership journey in 2024? Reach out today! 📞
📲415.997.9440

Source: CNBC

Ever felt a bit overwhelmed when deciding how to style your home? Let’s navigate the world of interior design together with a guide to 10 popular styles!✨🛋️

Which style resonates with you? Put a name to your favorite home decor style in the comments!

Photo Credit: Getty Images

Source: Real Simple

This Christmas, may your home be filled with the love of family, the laughter of children, and the warmth that makes a house a home. Merry Christmas! 🎄🌟✨

Over the 12 months through September 2023, the total value of super-prime ($10m-plus) home sales reached $31.7 billion. 📉💼 While this marks a decline from the 2021 post-pandemic peak of $40.7 billion, it stands significantly above the pre-pandemic total of $18.6 billion in 2019. 📈🏠

This data from Penta reflects the evolving landscape of luxury real estate, showcasing resilience and adaptation post-pandemic. How do you see these trends shaping the future of high-end property transactions? Share your insights below! 👇💬

Source: Penta

Last week, the Federal Reserve held its key interest rate steady for the third consecutive time, setting the stage for multiple cuts in 2024 and beyond. 🏦📆

Maintaining the benchmark overnight borrowing rate in a targeted range between 5.25%-5.5%, the Fed signals a strategic approach amidst economic shifts. Members project at least 3 rate cuts in 2024, a noteworthy adjustment after 11 hikes since 2022. 🔄💱

How do you foresee these changes impacting the financial landscape? Share your insights below! 👇💬

Source: CNBC