Chuck Barberini Real Estate

  “Just Thinking” I was speaking with a new client the other day who grew up on the peninsula and now lives near me in the East Bay. I let her know that I was born and raised in San Francisco, we talked about “The City” and she told me how much she enjoyed visiting it with her family as a young girl then she told me that she hadn’t been there in a couple of years and that the last couple times that she visited she was disillusioned by its current condition. I told her how much I enjoyed growing up there and how proud I was to be from San Francisco. I also told her that I always intended to move back to “The City” once the boys were grown and on their own, but because of how much it has changed, I no longer desire to move back. San Francisco has become a completely different city in the last 25 years. I don’t want to sound like the typical old guy, “get off my lawn” or “back in my day”, but it seems to me that the difference between previous generations discussing how much “The City...

  Check Out This Weeks Newsletter More listings are coming to the real estate market, but home sales continue to be sluggish. Read more from NAR’s latest housing report. Home buyers may finally be finding more inventory options this fall, but they’re still being cautious about entering the real estate market, the National Association of REALTORS® reported Wednesday. “Home sales have been essentially stuck at around a 4-million-unit pace for the past 12 months, but factors usually associated with higher home sales are developing,” says NAR Chief Economist Lawrence Yun. “There are more inventory choices for consumers, lower mortgage rates than a year ago and continued job additions to the economy. Perhaps, some consumers are hesitating about moving forward with a major expenditure like purchasing a home before the upcoming election.” Total existing-home sales—which reflects completed transactions for single-family homes, townhomes, condominiums and co-ops—dropped 1% in September comp...

  A new study from Realtor.com® highlights the major U.S. real estate markets likely to see changes as a result of the Federal Reserve’s rate cut last month.  In September, the 30-year fixed mortgage rate dropped to its lowest level since February 2023.  Following the Fed’s announcement in September, Realtor.com® predicted that mortgage rates would stay in the low 6% range through the end of 2024, with further declines resulting in high-5% rates by spring 2025.  Since then, following the latest jobs report, the 30-year fixed mortgage rate has once again increased past 6.50% and has continued to rise.  As rates fluctuate in response to key economic indicators, metros with the highest shares of owner-occupied homes with a mortgage will feel the most impact.  Having a mortgage with a low interest rate is a fantastic benefit to existing homeowners, but sometimes being in a great position can limit your options. Although mortgage rates have eased, market rates c...

  “Just Thinking” There are so many old sayings that we use, or at least we used to use, that we say out of habit and know what we intend them to mean but have no idea of the origin. Here are a few that I came up with and how they came to be, let me know if you have any that I missed. Don’t throw the baby out with the bathwater - Used as a caution against rejecting all parts of a plan because there are problems with parts of it. This came from the household before there was running water, a large tub was filled and the family would take turns bathing, starting with the father and descending by seniority. By the time the baby had its bath, the water was so dirty that it was difficult to see through it. Bite the bullet - To endure something painful or difficult with courage. This comes from times when soldiers would bite on a bullet during surgery to cope with the pain before painkillers. Going Cold Turkey – To quit something abruptly without gradual steps. One theory on this that wh...

The Fannie Mae Home Purchase Sentiment Index (HPSI) report for September 2024 is in, and by the looks of it, consumer optimism has significantly improved.  The overall index went up 1.8 points from August to 73.9—its highest level in over two years.  The most likely reason for that is the general expectation among consumers that mortgage rates will continue on a downward trend over the next 12 months.  According to Fannie Mae’s National Housing Survey for September, a record 42% of consumers expect rates to decline—up from 39% the previous month and 24% in June. This also compares to 31% who expect rates to remain the same and 27% who expect them to rise.  Source: Fannie Mae Also, nearly four in ten (39%) survey respondents expect home prices to increase in the next 12 months—up from 37% in August—shedding some light on why the improvement in overall consumer sentiment hasn’t yet translated into a boost in home sales.  Overall perception of homebuying conditions...

  Check Out This Weeks Newsletter Zillow’s latest seller report includes recent data on seller motivation—specifically major life events and specific changes sellers are looking for in their next home. It also highlights the decision-making process for buyers across  generations , including the time spent considering their decision (before listing) and the share of sellers who consider renting out their property rather than selling it. Read on for the highlights. Life Events Drive Homeowners to Sell Nearly eight in ten sellers (78%) cited at least one major life event as a factor behind their decision to sell. The most common was a change in household or family size, with more than half of all sellers (51%) citing it as a strong motivator. In second place, more than two-thirds (37%) cited a job change or transfer (37%). Life events most likely to motivate homeowners to sell/move:  Change in household or family size (51% of total sellers) New job or job transfer (37%) Work...

  “Just Thinking” Its fall kids are back in school, football is in full swing and its playoff time for major league Baseball. After 162 games the top 6 teams from each league fight it out for the chance to compete in the fall classic. The World Series, the best of seven game series to determine baseball’s champion for this year. It’s historic, it has happened every fall since 1903, the tradition, the pageantry, the history.  The brightest stars shine in the World Series, so many epic events are forged in our memories forever. Rudy Giuliani throwing out the 1 st  pitch after 9/11, Bill Mazeroski’s Walk-Off Home Run in 1960, Kirk Gibson’s Limping Home Run in 1988, The Shot Heard 'Round the World, Bobby Thomson's walk-off home run to put New York Giants into the 1951 World Series, the Boston Red Sox breaking the "Curse of the Bambino" and winning in 2004 after an 86 year drought, Joe Carter’s Walk-Off Home Run for the Toronto Blue Jays in 1993, David Freese’s Heroics for...