“Although Bay Area home sales in August fell nearly 6% from a year earlier, the recent drop in mortgage rates likely helped temper that decline,” said Andrew LePage, a CoreLogic analyst. “From March through August this year, when mortgage rates trended lower, home sales fell about 7% compared with that same six-month period last year. In the second half of 2018, when mortgage rates climbed, home sales fell nearly 12% compared with the second half of 2017. Some buyers no doubt remain parked on the sidelines, concerned about the possibility of buying near a price peak, and affordability remains a huge hurdle for many. But for some, this year’s drop in mortgage rates has been meaningful. While the median price paid for a home last month was down 2.4% compared with August 2018, the principal-and-interest mortgage payment on that median-priced home was 13% lower because of a roughly 1 percentage point drop in mortgage rates. The combination of the drop in the median price as well as mortgage rates translates into a savings of about $450 on the monthly payment for the median-priced home, assuming a 20% down payment and a fixed-rate 30-year loan.” CoreLogic
Just looking at the city of Napa, this is the data comparing market activity for July and August 2019. 2018 and 2019 for the same months are also compared. We are seeing more days on market with increased inventory. Many price ranges are still selling at top dollar while other price ranges are seeing multiple price reductions. I am happy to discuss your particular situation and can refer you to a trust local lender to discuss refinancing options.
Go take a peek at some of the inventory discussed using the open house lists below.
The week has arrived. The week of my favorite event of the year in Napa, the Safeway Open! The first year I attended I did not consider myself a golf spectator but this event has it all, some of the very best pro golfers, world class food, and top it all off with some intimate concerts. I love seeing my hometown hosting such an event and look forward to seeing so many people from the community volunteering and enjoying this event.
My children are looking forward to Thomas Keller’s fried chicken and lobster rolls.
My husband will reminisce about the time he got to be a volunteer caddy in Phil Mickelson’s group as he follows him in this years Pro-Am with Steph Curry.
I will enjoy it ALL and stay for the concerts.
Tickets are very reasonably priced at:
Looking for some local tips? Just ask! Hope to see you out there!
But first, today’s open houses are below.
Come visit me today 2:00-4:00PM at my listing at 2494 Trower Ave.
A block from Alston Park's dog park and hiking trails in north Napa, this 4 bedroom, 3 bath home is move-in ready. Don't miss this spacious 2,050-+ sq. ft. home with open living space. Natural light floods through 12 windows in the formal living room and is enhanced by an impressive raked ceiling. Two sets of glass doors open onto the patio, which is ideal for enjoying the large, private yard with room for a pool. Upstairs, a beautiful master suite overlooks the backyard with a walk-in closet, large master bath including double sinks, and separate shower. With a nod to privacy, down the hallway and around the corner are 3 additional bedrooms that share a bathroom with double sinks and a tub/shower. The top of the stairs reveals a sweeping view of the formal living room with angled window tops and a red brick fireplace. Sit by the fireplace in the great room or enjoy time with the family while cooking in the open kitchen with sit up breakfast bar. RV/boat storage as well. Offered at $769,000.
All open houses for today are below for your reference.
Having grown up in Napa and helping to start Rebuild Napa, I have a solid list of local professionals I trust from house cleaners to foundation experts and many types of contractors in between. Want to talk to someone about refinancing? Need someone to build you a deck? Looking to set up a trust? Ready to work with a local financial planner? Need a fence repaired? Need an insurance provider? Ask me!
If you know someone who is looking to buy or sell property, please pass my information along. I provide assistance with all stages of the home buying/selling process. I can help houses get market ready or get buyers even early in the process looking at property so they can begin to better understand what they will be looking to buy.
I truly appreciate your support and am here with recommendations when you need them.
Below are today’s open house lists. Escape the heat and take a peek!
Growing up in Napa I learned the value of community. I strive to serve the neighborhoods that I grew up in and the people who desire to make Napa their home. I help people connect to the community of Napa with a focus on continuing to build the unique community of Napa and my belief that home is where your story begins.