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This Week In Real Estate - Don't fear the R-Word (hint it is not Reaper ... More cowbell!!)

This Week In Real Estate - Don't fear the R-Word (hint it is not Reaper ... More cowbell!!)
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<<First Name>>,
 
The dreaded R-word … maybe shouldn’t be dreaded.
 
Ok. I am going to say it … RECESSION.
 
Now I am going to tell you why you should be cautious, but not fear a recession.
 
More than two-thirds of economists believe that we will have a recession by the end of 2020.

 
But this is not going to be like 2008. Our economy is slowing down, but as we enter the “recession” it will likely have a soft landing.

It’s somewhat counter-intuitive, but recessions don’t necessarily mean bad things for the housing market. In fact, they usually don’t. Nearly 70% of home shoppers this spring think the US will enter a recession in the next three years, but that hasn't stopped them from trying to close on a home.



It is a coin flip, leaning towards doubtful, to whether or not housing prices will decline in the next recession. Many expect that with lower interest rates to help ease a recession, housing may actually increase like it has in 3 of the last 5 recessions. 

This is a great article worth reading.
https://www.curbed.com/2019/1/10/18139601/recession-impact-housing-market-interest-rates
 
-Kris
 
 
Home sales in your area:
 
Street Full Address Listing Price Selling Price
2990 Redwood Rd, Napa, CA 94558-4132 1,250,000 1,250,000
2496 Cabernet Ct, Napa, CA 94558-2504 750,000 725,000
2932 Greco Dr, Napa, CA 94558-5912 458,000 450,000
4029 Maher St, Napa, CA 94558-2242 748,000 745,000
1033 Clark St, Napa, CA 94559 650,000 625,000
80 Skipping Rock Way, Napa, CA 94558 858,000 850,000
2 Casassa Ct, Napa, CA 94558-2700 860,000 845,000
860 Meadowood Ln, St. Helena, CA 94574-9620 10,700,000 9,800,000
115 Cooks Ct, Napa, CA 94558-5773 590,000 575,000
1065 Shadybrook Ln, Napa, CA 94558-4047 1,800,000 1,800,000
1691 King Ave, Napa, CA 94559-1563 1,295,000 1,295,000
1684 Wise Dr, Napa, CA 94558-2380 609,950 609,950
1019 Charlson Way, Napa, CA 94558-5558 699,000 745,000
36 Coombsville Rd, Napa, CA 94558-3902 885,000 860,000
3618 Seneca Way, Napa, CA 94558-2822 580,000 580,000
1992 Molina St, Napa, CA 94558-4340 890,000 875,000
3560 Woodbrook Dr, Napa, CA 94558-5234 939,000 940,000
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Sell your home for 100% of list price GUARANTEED or we will pay you the difference!*



Kristofer Chun, CDPE & SFR
Broker Owner
1560 Silverado Trail
Napa, CA 94559
P: 707.853.5747
F: 707.645.5747
Cal BRE# 01870237

We are proud to support Teens Connect. This life saving organization helps the youth of our community face mental health issues to prevent violence, suicide and other at risk behaviors. Teens Connect supports, engages, and empowers teens through programs centered around art and wellness, peer support and volunteer projects. We provide positive opportunities for youth to discover their self-identity, express their voice and create lasting social impact in their communities.


 

"Infuse your life with action. Don't wait for it to happen. Make it happen. Make your own future. Make your own hope. Make your own love. And whatever your beliefs, honor your creator, not by passively waiting for grace to come down from upon high, but by doing what you can to make grace happen... yourself, right now, right down here on Earth."

-Bradley Whitford
 

*Call or details and conditions 
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This Week In Real Estate - The time is right ... Don't wait to buy, buy and wait.

This Week In Real Estate - The time is right ... Don't wait to buy, buy and wait.
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<<First Name>>,
 
New to the Market:

1627 Ora Dr. Napa, CA (ALTA HEIGHTS!!!)
3 Bedrooms 2 Bath 1,352 sqft List Price $685,000
Open Sunday May 19th 12-2pm.
 
Situated in the highly desired neighborhood of Alta Heights this home is filled with many wonderful upgrades. Featured you will find a gorgeous kitchen with stone countertops, stainless steel appliances and a large island. Wood floors throughout, newer roof, dual pane windows, and an indoor laundry room are a few of the convenient additions. The peaceful backyard features a covered patio with wood burning fireplace and ample room to garden.


1590 Sylvaner Ave. St. Helena, CA
3 bedrooms 2.5 baths 2986 sqft over 15,000 sqft lot List Price $1,475,000
Open Sunday May 19th 12-3pm
 
This custom home has a little history of Napa Valley, It was originally built by Fred Berringer. Located in highly sought after westside St. Helena and set on over one-third of an acre this lovely home evokes both grandeur and comfort and serenity. The updated kitchen and dining room and the easy-flow floorplan are perfect for entertaining and parties. The home has been updated with hardwood floors throughout most of the main level with modern gray wash finish. The entire interior has been recently painted, and the carpet is newer as well. The main level master has a resort style bath with walk in shower separate tub, heated floors and walk in closet. Upstairs has the remaining two bedrooms large bathroom and loft area. There is also a basement of nearly 600 sqft that features wine room.
 
 
Buy and wait, not wait to buy.
 
One More Time… You Do Not Need 20% Down to Buy a Home. This is one of the biggest myths preventing people from buying today.
 
The largest obstacle renters face when planning to buy a home is saving for a down payment. This challenge is amplified by rising rents, which has eaten into the amount of money renters have leftover for savings each month after paying expenses.
 
In combination with higher rents, survey after survey has shown that non-homeowners (renters and those living rent-free with family or friends) believe they need to save upwards of 20% for their down payment!
 
Consumers often think they need to put more money down to purchase a home than is actually required. According to the Urban Institutes 2018 “Barriers to Homeownership” Report, 68 percent of renters cited saving for a down payment as an obstacle to homeownership. In this study commissioned in partnership between the Urban Institute, Down Payment Resource, and Freddie Mac, 39% of non-homeowners (Renters) and 30% of those who already own a home believe they need more than a 20% down payment. In another recent Convergys Analytics report, they found that 49% of renters believe they need at least a 20% down payment.
 
There are many lower down payment options and even more down payment assistance programs. However, the percentage of potential buyers who are aware of low down payment programs (those under 5%) is surprisingly low at 12% for non-homeowners and 13% for homeowners.
 
The median down payment on loans approved in 2018 was only 5%! Those waiting until they have over 20% may already have enough saved to buy now!
 
There are over 45 million millennials (33%) who are mortgage ready right now, meaning their income, debt, and credit scores would all allow them to qualify for a mortgage today!
 
Bottom Line
If your five-year plan includes buying a home, let’s get together to determine what it will take to make that plan a reality. You may be closer to your dream than you realize!
Thank
 
-Kris
 
 
Home sales in your area:
 
Street Full Address Listing Price Selling Price
1536 Juanita St, Napa, CA 94559-4378 1,039,000 990,000
101 Pine Pl, St. Helena, CA 94574-9746 1,150,000 1,000,000
106 Willowbend Ct, Napa, CA 94559-3554 849,500 840,000
4025 Fairfax Dr, Napa, CA 94558-2235 725,000 715,000
1226 Ione Ct, Napa, CA 94558-2429 699,000 670,000
1036 Stonebridge Dr, Napa, CA 94558-5345 749,000 710,000
2439 Wine Country Ave, Napa, CA 94558 749,000 740,000
1467 Fairway Vista Ct, Calistoga, CA 94515-1007 1,195,000 1,201,000
1441 A St, Napa, CA 94559-1649 749,900 736,500
1718 Sequoia St, Napa, CA 94558-2322 624,900 625,000
33 Pascale Ct, Napa, CA 94558-3927 1,995,000 1,995,000
4030 Encina Dr, Napa, CA 94558-1604 659,000 670,000
1874 Silverado Trl, Napa, CA 94558-3736 1,995,000 2,025,000
1550 Centennial Cir, Calistoga, CA 94515-1008 995,000 960,000
1170 Olive Hill Ln, Napa, CA 94558-2110 824,900 830,000
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Sell your home for 100% of list price GUARANTEED or we will pay you the difference!*



Kristofer Chun, CDPE & SFR
Broker Owner
1560 Silverado Trail
Napa, CA 94559
P: 707.853.5747
F: 707.645.5747
Cal BRE# 01870237

We are proud to support Teens Connect. This life saving organization helps the youth of our community face mental health issues to prevent violence, suicide and other at risk behaviors. Teens Connect supports, engages, and empowers teens through programs centered around art and wellness, peer support and volunteer projects. We provide positive opportunities for youth to discover their self-identity, express their voice and create lasting social impact in their communities.


 

"Infuse your life with action. Don't wait for it to happen. Make it happen. Make your own future. Make your own hope. Make your own love. And whatever your beliefs, honor your creator, not by passively waiting for grace to come down from upon high, but by doing what you can to make grace happen... yourself, right now, right down here on Earth."

-Bradley Whitford
 

*Call or details and conditions 
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This Week In Real Estate - Love you mom.

This Week In Real Estate - Love you mom.
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<<First Name>>,
 
New to the Market:


877 Erin Way. Napa, CA
3 Bedrooms 2 Bath 1,471 sqft Built in 2015! List Price $769,900
Open NEXT WEEKEND. Enjoy your Mother’s Day!

This gorgeous Napa Valley home is perfectly located in a quiet neighborhood just minutes from downtown Napa. From the moment you walk in you will notice the high-end upgrades that shine throughout. From the designer backsplash to the bright open floor plan this modern home has it all. The tranquil backyard is perfect for entertaining and features a majestic oak, mature landscaping and gardening beds. Ready for you to move right in and enjoy!
 
Coming Soon:

1590 Sylvaner Ave. St. Helena, CA
3 bedrooms 2.5 baths 2986 sqft over 15,000 sqft lot List Price $1,475,000
 
This custom home has a little history of Napa Valley, It was originally built by Fred Berringer. Located in highly sought after westside St. Helena and set on over one-third of an acre this lovely home evokes both grandeur and comfort and serenity. The updated kitchen and dining room and the easy-flow floorplan are perfect for entertaining and parties. The home has been updated with hardwood floors throughout most of the main level with modern gray wash finish. The entire interior has been recently painted, and the carpet is newer as well. The main level master has a resort style bath with walk in shower separate tub, heated floors and walk in closet. Upstairs has the remaining two bedrooms large bathroom and loft area. There is also a basement of nearly 600 sqft that features wine room.
 
 
Happy Mother’s Day
 
Some of you may know that Robert Louis Stevenson has a strong connection to the Napa Valley. We have the RLS museum in St. Helena with many of his archives and works. This poem is one of my favorites from him about moms.
 
To Any Reader: By Robert Louis Stevenson.
 
As from the house your mother sees
You playing round the garden trees,
So you may see, if you will look
Through the windows of this book,
Another child, far, far away,
And in another garden, play.
But do not think you can at all,
By knocking on the window, call
That child to hear you. He intent
Is all on his play-business bent.
He does not hear; he will not look,
Nor yet be lured out of this book.
For, long ago, the truth to say,
He has grown up and gone away,
And it is but a child of air
That lingers in the garden there.
 
To All of the Moms. It is the best job, hardest job, most rewarding job you can ever have. This is my favorite video about moms.
 
https://www.youtube.com/watch?v=MWcJZ210AaM
 
Thank
 
-Kris
 
 
Home sales in your area:
 
Street Full Address Listing Price Selling Price
3275 Wooden Valley Rd, Napa, CA 94558-9399 1,195,000 1,100,000
913 Foothill Blvd, Calistoga, CA 94515-1709 619,000 610,000
1330 H St, Napa, CA 94559-1131 529,400 486,000
1081 Tamarisk Dr #A, Napa, CA 94559-3512 945,000 920,000
1650 Pear Tree Ln, Napa, CA 94558-6487 679,000 675,000
1018 Little St, Napa, CA 94558-3959 900,000 900,000
3620 Idlewild Ave, Napa, CA 94558-2819 589,000 605,400
2492 Cabernet Ct, Napa, CA 94558-2504 739,000 739,000
3430 Westminster Ct, Napa, CA 94558-4159 2,550,000 2,400,000
1861 F St, Napa, CA 94559-1030 459,000 459,000
53 Saint Francis Cir, Napa, CA 94558-6515 869,000 869,000
2174 Wilkins Ave, Napa, CA 94559-4105 429,000 425,000
3169 St. Helena Hwy N, St. Helena, CA 94574-9658 1,695,000 1,785,000
31 Dickerson Ln, Napa, CA 94558-2579 778,000 778,000
1507 King Ave, Napa, CA 94559-1523 620,000 625,000
4 Ivy Ct, Yountville, CA 94599-1215 900,000 893,000
111 Homewood Ave, Napa, CA 94558-5750 419,500 445,000
3537 PALOMAR Way, Napa, CA 94558-2854 599,000 600,000
100 Franklin St, Napa, CA 94559-3919 695,000 705,000
133 Stone Mountain Cir, Napa, CA 94558-1579 1,685,000 1,650,000
1157 Legion Ave, Napa, CA 94559-1206 619,000 625,200
176 Pratt Ave, St. Helena, CA 94574-1029 1,095,000 1,085,000
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Sell your home for 100% of list price GUARANTEED or we will pay you the difference!*



Kristofer Chun, CDPE & SFR
Broker Owner
1560 Silverado Trail
Napa, CA 94559
P: 707.853.5747
F: 707.645.5747
Cal BRE# 01870237

We are proud to support Teens Connect. This life saving organization helps the youth of our community face mental health issues to prevent violence, suicide and other at risk behaviors. Teens Connect supports, engages, and empowers teens through programs centered around art and wellness, peer support and volunteer projects. We provide positive opportunities for youth to discover their self-identity, express their voice and create lasting social impact in their communities.


 

"Infuse your life with action. Don't wait for it to happen. Make it happen. Make your own future. Make your own hope. Make your own love. And whatever your beliefs, honor your creator, not by passively waiting for grace to come down from upon high, but by doing what you can to make grace happen... yourself, right now, right down here on Earth."

-Bradley Whitford
 

*Call or details and conditions 
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Copyright © 2019 Kristofer Chun Real Estate, All rights reserved.


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CONTACT INFO

Kris Chun, REALTOR®

2015 President North Bay Association of REALTORS – Napa Chapter

Direct: (844) 4MY-NAPA
1560 Silverado Trail, Napa, CA 94559
DRE# 01870237

 

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