Podcast: Too Much Bad Real Estate Advice

On this episode of  the Contra Costa News Podcast, you ever get the feeling you are getting bad real estate advice such as date the rate and marry the house? Or it always seems like the best time to buy? I sit down with husband and wife team Nate and Tracy Nelson to dispel this bad real estate advice. What is going on with real estate in Contra Costa County. Impact of 3% to 8% interest rates. And if people are being intentionally priced out of the market.

Quick Facts

Based on the Mortgage Loan Calculator and rates by the St. Louis Fed, here is the impact on interest rates over the last 4-years–for the same house on the same $500k loan, its going to cost you $1,600+ more a month.

• Nov 5, 2020 – 2.78% – $2,049
• Nov 4, 2021 – 3.09% – $2,132
• Nov 3, 2022 – 6.95% – $3,310
• Nov 7, 2023 – 8.067% – $3,692

The average home price in California (Sept. data) was $871k. However, with a median home sale price of more than $1.48 million in San Francisco, you’ll need the greatest annual income — $404,332.

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For more on Tracy Nelson:

• Tracy Nelson Website: www.soldbytracynelson.com
• Facebook: www.facebook.com/EastBayAreaRealtor
• Instagram: www.instagram.com/eastbayarearealtor
  
• YouTube: www.youtube.com/@eastbayarearealtor/videos

Nathan Nelson — click here

References:

• D.R. Horton Issues Upbeat Fiscal 2024 Revenue Forecast
• Mortgage rate races toward 8% after hitting a high not seen since late
• 30-Year Fixed Rate Mortgage Average in the United States
• California Association of Realtors Sales & Price Statistics
• Americans falling behind on auto loan payments at record pace
• Want to buy a house? Here’s how much you need to earn to afford one in these US cities
• Concord Set to Talk Rent Stabilization and Just Cause for Eviction
• Antioch Agrees to Create Rental Registry to Track Landlords
• Antioch City Council Approves Rent Stabilization Ordinance

If you are interested in being a guest on the Contra Costa News Podcast or have a recommendation of who you would like to have come on the show, please email [email protected]

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