Monthly News & Updates

April 15, 2024

We were optimistic at the end of 2023 as we read about the Fed's plan to drop interest rates 3 times in 2024. Inflation has proved more stubborn than hoped however, even as it has dropped from its height in 2021. Grocery prices have been flat for two months while prices for furniture, household appliances and many other durable goods have been falling. Restaurants and hotels are still full. Retailers had a record-setting holiday season. But gas prices are rising again and insurance is becoming more expensive and often hard to get.

Interest rates are now likely to stay at their current level for the present time. Fed officials have signaled that interest rate cuts, which were expected early this year, are now likely to wait at least until the summer.

Home buyers, especially in the East Bay, appear to have made peace with the higher interest rates, especially since inventory is still very low. We are seeing multiple offers again, especially when homes are priced under market, have been updated, and are in locations that buyers find desirable.

Sold in Monterey!

Another Heartwarming Story of Homeownership!

Just about one year ago, we began working with a dear friend in Monterey who had lost his beloved wife (who was also our dear friend), to cancer in the fall of 2020 and was now ready to sell their large family home. This couple had accumulated many treasures over the years and now our friend was now ready to downsize and be free of the responsibility of such a big home.

We referred our friend/client to an estate sale/declutter who also helped him pick items to take to his new home in Carmel (which we also helped him find). After the estate sale, we arranged inspections, had professional photos & marketing done, and came on the market in the fall of 2023.

We are very happy to share that this Monterey home found its perfect match last month! After patiently waiting for just the right buyer, this lovely home has been sold to a wonderful family with young children who fell in love with its spacious charm.

As the family was exploring their potential new home, they noticed something heartwarming - height measurements marked on the pantry door frame, capturing precious memories of the previous family's growth journey. It was a touching reminder of the countless memories and milestones shared within these walls.

We are so happy for our friend & seller as he begins this new chapter of his life and also for the new owners as they embark on their own journey of building lasting memories in their new home.

Sold in San Leandro!

check out what 2 of the sellers had to say

in the photo below...

The sale of this sweet Broadmoor bungalow closed last month. We represented the (7) sellers whose family had owned this home since the 1960's. Grandma bought it as a young widow with 2 children & family members have lived here ever since. The last family member moved- we assisted him with his purchase of a home in Grass Valley.

The buyer came to our open house, as did other members of her family, and fell in love with the location, the size and the configuration of the home. We are so happy to think of this family home passing along to another wonderful family with memories to be made.

All sellers were thrilled with the sale. We have worked many times with this family and it has been a pleasure every time!

Latest Market Update from California Association of Realtors

excerpt from their April 8 newsletter

The strong jobs report released last week casts doubts on whether the Fed can keep rate cuts on track this year. At the end of 2023, Wall Street was expecting the central bank to cut rates 3 times in 2024. Reports have shown that the economy is more resilient than previously thought and economists have adjusted their expectations downward since then. More investors are now speculating that the Fed may cut its policy rate just once or twice before the end of the year.

With March’s consumer price index scheduled to be released later this week, the market will hopefully get some assurance that the cool-down in inflation remains intact, and the Fed is still on course to cut rates later this year.

Casey's Current Rate Sheet

How was Real Estate Market doing in Your City on April 14, 2024?

This month we are highlighting Castro Valley, which continues to be in a Strong Seller Market. Prices have been staying steady for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone.

We have also put a link below to the Hayward market, which also continues to be in a Strong Seller's Market.Prices have not been moving higher for several weeks. However, inventory is sufficiently low to keep us in the Seller’s Market zone

Click here for more info

The Oakland Zoo is Awesome!

We had a great family outing to the wonderful Oakland Zoo this month. The gondola ride, with beautiful views of the Bay Area, brought us to to see the Grizzly Bears, California Condors, Bald Eagles and the Mountain Lions enjoying their lunch. After coming down from the California Trail, we saw many other animals, including the baby giraffe, who was a big favorite. We highly recommend a trip here to a great East Bay resource!

Click here for the Oakland Zoo's webpage

Von Roll Team

Re/Max Accord

3327 Castro Valley Blvd.

Castro Valley, CA 94546

www.vonrollrealestate.com

510.919.1234

Ted Von Roll & Liz Dunbar

DRE #00370936 & DRE #01994756