Weekly update - Bay Area Real Estate Market
Chuck Barberini Real Estate - Weekly Newsletter
‌
"Just Thinking"
We lost two men this week, both are men that have been around for most of my life. I started putting my thoughts together the other day about the passing of Willie Mays, a man that I have admired for as long as I can remember, he was not only a great baseball player, but the ultimate Giant, a humanitarian, key figure in the integration of baseball and in social justice. During my writing this, the news broke about the passing of Donald Sutherland, an impact actor that has been making movies since the 60’s.

Willie Mays began his professional career in 1948 at the age of 17, playing for the Birmingham Black Barons of the Negro League. Willie made his major league debut on May 25, 1951, with the New York Giants, where he won rookie of the year honors, just 4 years after Jackie Robinson broke the color barrier in major league baseball.

Long before Joe Montana hooked up with Dwight Clark for “The Catch in the 1982 NFC Championship game, Willie Mays was famous for “The Catch” in the 1954 World Series a spectacular over-the-shoulder grab in deep center field, preventing two runs from scoring. This play is one of the most famous defensive plays in baseball history.

Willie moved to San Francisco with the Giants in 1958 where he became the face of the franchise. Growing up in San Francisco, he was my hero for as long as I can remember, up until Barry Bonds, Willie was the only player that I would stop what I was doing to watch him hit Even after his career was over Willie remained a constant figure with the Giants until he slowed down a couple years ago.

Over his 22-year career, Mays accumulated 3,283 hits, 660 home runs, 1,903 RBIs, and a .302 batting average. He won the National League Most Valuable Player (MVP) award twice, in 1954 and 1965 and was selected to the All-Star Game 24 times.

Donald Sutherland first came on my radar in his breakthrough role in "The Dirty Dozen,” where he played Vernon Pinkley in the 1967 film. "The Dirty Dozen," could have easily been on my favorite movie list last week, at least an honorable mention.

Sutherland played memorable roles in two classic films from the early 1970s. in "MASH” he played Captain Benjamin Franklin "Hawkeye" Pierce a wisecracking, irreverent surgeon during the Korean war, often using humor and unconventional methods to cope with the horrors of war. In "Kelly’s Heroes" he played Sergeant Oddball, an eccentric and laid-back tank commander. with carefree attitude, his use of a Sherman tank painted with psychedelic colors, and his catchphrases like "Always with the negative waves, Moriarty."

He played many memorable roles throughout his career, over time his roles evolved from a carefree sarcastic character to stoic elder statesman in his rolls in “The Italian Job’ and the “Hunger Games”.

Loss is part of life, the older we get the more we lose. Both Willie Mays and Donald Sutherland have been constants in my life, I am so grateful for all the happy memories that they have shared. They will be missed. 

Let me know what you think.
Facebook ‌ Twitter ‌ Instagram ‌ LinkedIn ‌
This Weeks Top Story
Inventory Rises as More Homeowners List and Buyers Take a Step Back
News releases from Zillow and Redfin put a spotlight on rising inventory levels as more homeowners list their homes while buyers take a step back.

Zillow’s release draws on its latest market report, which shows new listings outpacing home sales in May, easing both buyer competition and home price appreciation.

Homeowners may be less daunted by the lock-in effect from listing their homes this year, but buyers—particularly younger Millennial and Gen Z buyers and those earning less than the median household income—still face significant affordability challenges.

That said, the forecasted softening in home price growth, combined with the knowledge and proactive approach of a skilled real estate professional, could give more buyers the advantage they need to become homeowners in 2024, regardless of rates remaining near 7%.

NEW LISTINGS RISE 8% FROM APRIL AND 13% YEAR OVER YEAR

From April to May of 2024, new listings from sellers increased by a larger-than-average 8%, and the total figure now stands 13% above the previous year’s extremely low levels.

According to a Zillow survey of recent home sellers, around 80% were motivated by major life events, including marriage or having a child, and not so much by optimal financial conditions.

Ultimately, the lock-in effect can’t compete with real life motivators like the need for a bigger home (for a growing family), job relocations, and the desire to live closer to family.

That said, while we’re seeing an uptick in seller activity, buyers are less motivated, which is why sales in May were down 6% from the year before. But the cooling in buyer demand has helped drive up inventory numbers. The number of for-sale homes is up 22% compared to last year’s near record lows.

And while inventory is still 34% down from pre-pandemic norms, that gap is the smallest in over three years.

New listings increased the most year over year in West and South coastal markets (with a scattering of inland Western metros):

  1. San Diego, CA (+32.5%)
  2. Seattle, WA (+31.4%)
  3. Charlotte, NC (+30.4%)
  4. Raleigh, NC (+29.1%)
  5. San Francisco, CA (+29.0%)
  6. San Jose, CA (+28.5%)
  7. Phoenix, AZ (+26.6%)
  8. Tampa, FL (+24.7%)
  9. Denver, CO (+24.5%)
  10. Atlanta, GA (+23.4%)
  11. Las Vegas, NV (+23.1%)
Finish - The Full Story

Posted by:
Sarah Lentz 
June 17, 2024 
Housing Market
Visit our website
Properties For Sale
  • Alameda
  • East Contra Costa
  • West Contra Costa
  • San Francisco
Real Estate News Sites
  • Weekly Real Estate News
  • Mortgage News Daily
  • BAM Real Estate News
Previous Newsletters
June 7th
Jerome Powell On Housing: June 11-12 FOMC Meeting
https://conta.cc/3Ruudrv
May 31st
Bay Area Housing Market
Forecast 2024
https://conta.cc/4c2bKKG
May 24th
Millennials And Gen Z Drive Majority of Mortgages In 2023
https://conta.cc/3QWPnhP
May 17th
Down Payments Averaging $26,000, The Highest Q1 Level on Record
https://conta.cc/4bF1F6n
May 10th
No Metros with Falling Home Prices - For the First Time Since...
https://conta.cc/3UtRURy
May 3rd
Wait-And-See: Powell on Rate Cuts, Housing Inflation and Market...
https://conta.cc/44sHW7p
April 26th
Nearly 40% Of Homeowners Couldn’t Afford Their Homes Today
https://conta.cc/4bdmIN2
April 19th
Nearly 20% Of Home Sellers Take A Loss In This City...
https://conta.cc/3Jkt6WY
April 12th
1 In 5 Americans Are Making Big Sacrifices to Afford Monthly
https://conta.cc/4aRGqhj
April 5th
Squatting Has Gone Viral—And Some Are Taking Matters
https://conta.cc/4aEiVIl
March 29th
The Pandemic Roiled the Housing Market
https://conta.cc/3VCRxpN
March 22nd
Co-Buying, Compromises, And Home Tour Burnout: 2023 First...
https://conta.cc/4cmKpEb
March 15th
Is Price the New Location?
https://conta.cc/43mZ6Tt
Current Mortgage Rate

Mortgage News Daily

#ChuckBarberiniRealEstate 
@ChuckBarberini @ChuckBarberiniRealEstate
Join Our Blog
Recent Closings
  • Alameda
  • East Contra Costa
  • West Contra Costa
  • San Francisco
~Other Top Real Estate Stories This Week~

  • Mortgage Application Activity on The Rise
  • May Home Prices See Smallest Monthly Increase In Nearly 18 Months
  • Homeowner Equity Grows 9.6% Year Over Year As Negative Equity Declines
‌
First Time Homebuyer Guide 2024

The process of buying a home can be overwhelming at times, but you don't need to go through it alone. You may be wondering if now is a good time to buy a home… or if you should continue renting. I put together a free eGuide for you that will answer many of your questions and likely bring up a few things you haven't even thought about yet. Just click the button below to read it now!

Read The Handbook Now
"Mortgage Rates"
MEET ME ON MAIN
SATURDAY, JUNE, 22ND 2024 10AM-3PM
Real Success Comes in Small Portions Day by Day
EXP Realty the Fastest Growing Brokerage in the World. Join the Team Today.

Find Out More About EXP Realty
"Just Ask Chuck"
(800) 322-2150
Follow Charlie Barberini
Golden State Guide Service
Facebook ‌ Instagram ‌
Chuck's Blog "Tales From the Trail"

The road is frighteningly long if all you see is the end.
So, make reaching the end of the road your goal.
Step forward every day with a clear vision of the end.
Step after step, day after day moving forward.
You'll reach the end and achieve your goal and realize that the journey was the point all along.
Citizen Number One
https://music.apple.com/us/artist/citizen-number-one/1474111440
@Citizen.Number.One