Brexit Brings Low Mortgage Rates

By now, we've all heard about Britain choosing to exit the European Union. After a few days of tumultuous activity on the stock market, what we here in the United States are now seeing as a result of Brexit is mortgage rates that are on the decline--excellent news for homeowners looking to refinance and for those in the market to purchase a home in San Francisco, Marin County or elsewhere.

According to Freddie Mac, 30-year fixed mortgage rates fell to 3.57% in June, the lowest they've been since 2013. They are also approaching historic lows from 2012 when rates hit 3.35%. The average annual mortgage interest rate in 2012 was 3.66 and it has been slowly climbing upward ever since, yet still remaining at all-time lows. For the first 6 months of 2016, the annual interest rate is 3.66%, the same as in 2012.

According to other sources, the average rate for a benchmark 30-year mortgage is 3.48%. Exact numbers may vary but the bottom line is, now is a fantastic time for home buyers and those looking to reduce their current home mortgage interest rate.

After raising rates in December 2015, the Fed was rumored to have been toying with a second interest rate hike but thanks to Brexit, sources says the likelihood of this occurring has declined to 16%, down from 43% 3 weeks ago and 81% in May.

Freddie Mac has data on mortgage rates going back to 1971. At no time during those 45 years have mortgages dropped below what we've seen during that past 5 years.

Are you in the market to buy a condominium or single family home in San Francisco or Marin County? The Costa Group provides extraordinary service to elevate your life and bring you home.  

We invite you to contact us and discover how we can help you find the perfect home for you and your lifestyle.

Fall San Francisco Real Estate Market Performs

The number of closings in October increased by nearly 40 percent versus the prior month, while total dollar volume increased by over 50 percent. The majority of properties (74 percent) sold in under 30 days and received 12 percent over the list price, on average. Tech Sector performance continues to fuel the steadfast demand. As an example, it is estimated that Bay Area venture capital funding is up approximately 25 percent year-to-date. Stock Markets have also made strides, with Reuters reporting that “The gains on the first trading day of the month followed the best monthly performance of the major indexes in four years in October.” The prospect of a December rate hike remains a possibility.

MEDIAN SALE PRICE

OCTOBER 2015 MEDIAN

CONDO/TIC | $1,100,000 | + 10% year-over-year

Single Family | $1,300,000 | + 9% year-over-year

MEDIAN NEIGBHORHOOD VALUES

Please Contact Franck Costa & Sara Werner Costa of The Costa Group, for your next home purchase or sale in San Francisco or Marin County.

San Francisco and Marin County Real Estate | Top 1% of Realtors | Award Winning |  415.730.2604 | costagroup@vanguardsf.com

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Thinking of Remodeling Your Kitchen? Check Out These Gorgeous Kitchen Pics and Tips!

Get inspiration from beautiful state-of-the art kitchens from all over the world.  

Do you think the kitchen sells the home?

Alno AG

Ceramic Is the New Granite: Tips From the World’s Coolest Kitchens

Hey, want a new kitchen? Maybe a better question would be: Who doesn’t? The kitchen is one of the two most popular rooms to renovate, and quite possibly the star attraction for most buyers looking at a home. After all, It’s a place to make food, share food, socialize (while eating food), and spend time with family (no food necessary!). Bottom line: You’re likely to spend a disproportionate slice of your time in this part of your home. So why not make it great?

And as with any remodel, there are endless style possibilities, which basically means opportunities to agonize over the renovation road not taken. Quartz or granite countertops? Knock down that wall or improve it? Stainless-steel appliances or ones that look like wood cabinets?

Well, we’re not going to make any decisions for you—sorry!—but for ideas and inspiration, we turned to Manel Gutierrez, author of “150 Best New Kitchens.” For his new book, Gutierrez curated a selection of the most exciting kitchen designs from around the world, and we’ve presented some of those highlights here. Enjoy!

Mixed materials shine in an airy space - Snaidero

Don’t just open up your kitchen, integrate it

Yes, everyone knows that an open-plan living area is brighter and airier, but somehow the kitchen always ends up looking like … a kitchen. But it doesn’t have to be that way! Pick appliances with finishes that mimic cabinets, and show off your shelves with objects and books, just like you would in your living room.

Gutierrez says the design solutions he profiles in his book aren’t just focused on the kitchen—they also “seek to achieve an aesthetic unity” with the living and dining areas.

“The best results are truly original, beautiful, and, above all, very practical.”

Shelves in the kitchen are used as they would be in a living room—to show off objects - LEICHT Küchen AG

Eye-catching ash wood connects the kitchen with the rest of the living space - LEICHT Küchen AG

Play with materials

Gutierrez says one of the main trends he noticed was the wider-than-ever variety of materials being used in kitchens today. Ceramic, stone, glass, and lacquer are taking their place alongside stainless steel. And best of all, designers are mixing and matching them with abandon.

“The more different the materials, the more interesting and intense the resulting combination,” he writes. While concrete is “the preferred construction material for modern architecture,” ceramic is an up-and-comer that’s both attractive and resistant—it’s even been used in space exploration. Hey, if it’s good enough for the astronauts, it’s good enough for your kitchen.

But it’s nice to know that traditional materials haven’t lost their luster either. The all-time favorite? Good ol’ wood.

This kitchen is made of concrete and Canadian pine reclaimed from packing crates - Guillerme Morelli

This kitchen makes use of stainless steel, ceramic and wood - Alno AG

Go all white—or all black!

“White has many benefits: it looks harmonious and creates a sense of cleanliness,” Gutierrez writes. “Combined with red it is unbeatable.”

In fact, the monochromatic look always makes a strong design statement, whether it’s light or dark. The use of dark-stained wood adds a natural touch to this hypermodern black kitchen/dining room.

A dramatic black kitchen gets a touch of warmth from natural—but also dark—wood - LEICHT Küchen AG

Use switch hitters

Unless you’re lucky enough to have a palatial kitchen, everything in the space had better pull its weight—and then some. These features do double duty:

This kitchen’s island doubles as a work surface and a dining table - Alno AG

The stove has a ventilation plate rather than a hood, which also works as a shelf - Lube

The most important part is what you don’t see

In general, storage is like the Spanx of modern kitchen design—when it’s good, you don’t know it’s there, but it makes everything sleeker, tighter, and more put together. Top-notch storage design makes use of those odd corners and makes even gigantic gadgets such as that Vitamix blender disappear.

That said, you can make strategic exceptions—and make a design statement.

Clever cabinet accessories optimize storage space - Ernestomeda

Kitchen utensils are kept accessible in an attractive way - Cesar Arredamenti

To check out more stunning kitchens and design advice, click the image below to sample Gutierrez’s book, or buy a copy.

“150 Best New Kitchen Ideas” by Manel Gutiérrez - Harper Collins

Reposted from Realtor.com.  By Cicely Wedgeworth, she covers real estate, economic news, and home improvement at realtor.com.

The Costa Group are members of the National, California and San Francisco Association of Realtors specializing in San Francisco and Marin County, California real estate representation.  

sf.curbed Covers 560 Haight St #102 in the Theatre Lofts 2 Bed|2Ba $1,095,000

OPEN SUNDAY NOV 1st | 11:00AM-3:00PM

Franck & I pulled some strings this week, worked our contacts.... and got our client's gorgeous listing into the famous and ever-popular Curbed SF Real Estate blog before we welcome offers smile emoticon yipeee! Many thanks to my marketing director Erika for helping my vision become a reality. I ♡ marketing, having awesome wing people, and working as a team to get results for our valued clients! Stoked! Happy Halloweeeeeen!!!!!! Xo, The Costa Group

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POST on sf.curbed by Tracy Elsen

Infographic: 12 facts about millennial homebuyers. Do you Agree?

Like all generations, the experiences millennials had in childhood and while in college have influenced their home buying decisions. Here are 12 facts about millennial homebuyers that are unique to this demographic. Are you a Millenial home buyer?  Do you agree?

Embedded from The Propcy Blog