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Shain Holden
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Carpe Diem
Carpe Diem

23 followers
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In these California cities, houses probably earn more per hour than you do

Houses in San Francisco earn more per hour than most of their owners – or anyone else, for that matter, – do at work, a new report finds.A study released by real estate site Zillow finds that houses in the Bay Area city typically appreciate at a rate of $60.13 for each working hour, calculated based on a 40-hour work week. Minimum wage workers in San Francisco currently take home $15 an hour and the average hourly wage in the San Francisco-San Mateo metro area was $36.61 in 2016, reported the U.S. Department of Labor.

In San Jose, the typical homeowner is gaining $99.81 of equity in their home every working-hour, but minimum wage in the city is just $13.50. That means the typical home in San Jose is "earning" over seven times local minimum wage. Even still, the average hourly wage in the San Jose metro is $43.71, which is over two times less than local home value appreciation per working-hour.

San Francisco and San Jose are poised to be among the most expensive markets in the nation throughout 2018, reported Zillow, with median home values of $1.1 million in San Jose and $893,000 in San Francisco. A renter or prospective buyer would need to earn at least $170,000 a year to live comfortably in either market, according to HSH.com.“The way the economy in the Bay Area is right now, it’s like the demand is on steroids,” Michael Rawson, director of the Public Interest Law Project based in the Bay Area, told Newsweek. “It drives the land prices through the roof.”
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20 Hottest Housing Markets In the U.S
The top three hottest housing markets in the U.S for January are located here in the Bay Area with San Francisco topping the list followed closely by San jose and Vallejo. Other Bay Area markets that made the top of the list this month were Santa Rosa ranked 7th, and Santa Cruz ranked 18 which has moved up 9 spots since last month. A total 13 out of the 20 hottest housing markets in the U.S for January are located in California.

Placement on the list was based on number of listing views in each market and the number of days homes spend on the market. Recent movements and changes on the list can be attributed to, “A strong stock market run, new tax laws, and a government shutdown have given buyers and sellers plenty to digest as they come to terms with the new economic landscape and their personal situation,” said Javier Vivas, director of economic research at Realtor.com. According to data released with the list of hottest housing markets, approximately 365,000 new listings are expected to hit the market in February, showing a 3 percent increase over last year. Click here to go to full article.
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Pacific Appraisers’ Ryan Whitelaw MAI and Karen Park MAI will be attending the Appraisal Institute annual fall conference in San Francisco. See below for more details:

Location: Marriott Marquis, San Francisco
Plan now to join us for the Northern California Chapter’s original award-winning signature conference. Proudly celebrating 64 years!

16 Breakout Sessions include:
Units of Comparison and Sale Price Adjustments for Small Residential Income Property
Marketing, Scaling, Non-Lender Work & Changing the Way You Do Business
The Price is Right: Cost of Entitlements
California Water: From the Sky to Ownership
Appraiser DNA: Hiring & Employee Development
Compliance: Learn it. Live it. Love it.
Complex Valuation Issues in Ad Valorem (and many other) Appraisals
Going Concerns: Mind Your Business (and Equipment)
Green Building 2014: Risks and Opportunities
Data Trends and Data Science: Statistical Methods and Analysis
Carbon, Climate and California Policy
The Appraisal of Contaminated Real Estate
Residential Market Update
Retail Market Update
Real Estate Capital Markets Outlook
Mobile Technology
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Ryan Whitelaw, MAI was a speaker at a seminar for real estate professionals in Santa Cruz, CA. Ryan discussed calculating  equity yield rates for investment properties through discounted cash flow analysis.
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Pacific Appraisers will be attending the 2014 Family Limited Partnership Seminar. Pacific Appraisers is dedicated to working closely with our Attorney, Trustee, and Accountant clients. We are excited to be attending the 2014 Family Limited Partnership Seminar on valuing FLPs and other non-controlling interests, especially involving real estate and/or marketable securities.
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WASHINGTON, D.C. (November 20, 2013) — Mortgage applications decreased 2.3 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending November 15, 2013.
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California median home price changes year over year: Alameda County +34%, Contra Costa County +27%, Marin County +12%, Monterey County +21%, Napa County +25%, San Mateo County +10% Santa Clara County +19%, Santa Cruz County +23%, Sonoma County +22%. Click below to see the median home price changes by county and city.
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Appraisal Institute’s 2013 Annual Fall Conference: Pacific Appraisers commercial team attended this years Appraisal Institute’s 2013 Annual Fall Conference. The conference featured  important real estate topics such as retail, office and industrial market updates, business valuations, special purpose properties, Net Zero Energy buildings, valuing agricultural properties and water rights, and appraising high-end residential properties in a rebounding market. For additional information regarding the session topics and all of the presenters, please refer to the Fall Conference Brochure.
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