What Will Happen with the Housing Market in 2022
Will Home Prices Go Up or Down?
What’s Going to Happen with Mortgage Rates?
Ralene Nelson, REALTOR®
PRICE CHANGE – 1025 Vintage Dr, Rio Vista, 2bd/2bth/1430sqft
Asking $445,000 – Located in the active adult community, Trilogy, this Spinnaker model is on the 2nd tee box. Home shows pride of ownership. Do not miss out on the opportunity to own this beautiful home. The seller has completely remodeled the kitchen and master bath, new flooring, blinds, and fixtures throughout. The master suite has a bay window and a view of golf. The kitchen has new cabinets, granite counters, a stainless sink, and new stainless appliances. The great room has open space for entertaining and room for your oversized entertainment center. The laundry room has a sink and cabinets for storage. Newer water softener and home water purifying system. All-weather patio cover with fenced and low maintenance yard. Trilogy offers many activities including 2 pools (indoor & outdoor), billiards, tennis courts, bocce, gym, and more. NO BONDS READ MORE
JUST SOLD – 1085 Vintage Dr Rio Vista
Spinnaker model, located in Trilogy, on the 2nd fairway, with views of the pond. This is an Active Adult Community. Coveted location, currently only golf course home for sale. Two bedrooms, 2 bath with den, and kitchen overlooking the golf course. Professionally landscaped with the fence, small grassy area for your pet. Patio with cover & privacy screen & walkway around home. The sunsets are spectacular from this backyard. Carpet throughout with vinyl in kitchen & bath. Oak cabinets & white tile counters. Two-car garage with built-in storage cabinets, new hot water heater. READ MORE
REAL ESTATE NEWS
What Does the Future Hold for Home Prices?
If you’re looking to buy or sell a house, chances are you’ve heard talk about today’s rising home prices. And while this increase in home values is great news for sellers, you may be wondering what the future holds. Will prices continue to rise with time, or should you expect them to fall?
To answer that question, let’s first understand a few terms you may be hearing right now.
- Appreciation is an increase in the value of an asset.
- Depreciation is a decrease in the value of an asset.
- Deceleration is when something happens at a slower pace.
It’s important to note home prices have increased, or appreciated, for 114 straight months. To find out if that trend may continue, look to the experts. Pulsenomics surveyed over 100 economists, investment strategists, and housing market analysts asking for their five-year projections. In terms of what lies ahead, experts say the market may see some slight deceleration, but not depreciation.
Mortgage Rates Increased to 3.27% Last Week.
Here’s What Experts Forecast Amid Rising Inflation and COVID Cases
|LAST THREE YEARS||AVERAGE 30-YEAR FIXED MORTGAGE RATE|
- The average 30-year fixed mortgage rate increased for the third consecutive week to 3.63%
- Rates are now at levels not seen since April 2020 — nearly two years ago
- This week’s increase is the biggest weekly increase since March 2020: Rising by 23 basis points over last week
- This week’s increase aligns with the rising rates many experts have long predicted in 2022
- Federal Reserve Chairman Jerome Powell recently announced the Fed would begin winding down measures to support the economy during the pandemic, which is also likely to contribute to rising rates
- Inflation is the highest it’s been in 40 years, according to the latest data released by the Bureau of Labor and Statistics (BLS) — it’s a key driver of rising rates, experts say
- This week’s increase contradicts speculation that surging COVID-19 cases and the Omicron variant might cause rates to decrease or remain flat
- Despite the increase, mortgage rates are still significantly lower than prepandemic levels
Events in Northern California this Week-End
Cal Expo, 1600 Exposition Blvd, Sacramento, CA
Online Weekend Pricing — Adult Admission (13 – 61): $26.00 — Child/Sr. Admission: $21.00
Glowfari – A Wildly Illuminating Lantern Festival
Glowfari is an unforgettable experience for all ages to enjoy thru January 30!
Featuring hundreds of larger-than-life glowing animal lanterns throughout the Zoo; and with all-new animals displays for 2021! Take a mile-long illuminated stroll through the Zoo and visit the desert with camels and bighorn sheep, have an African safari adventure with elephants, giraffes, and an 8-foot crocodile head, walk through the forests of Asia to meet red and giant pandas – and of course, ride the gondola to the land of bugs featuring a 65-foot Queen Ant Tunnel! Finish the evening with a visit to Santa and ride the Express Train through our Winter Wonderland!
$24 adults/$20 children & seniors (2-14 & 65-75)
Children under 2 and adults over 76: Free
Tickets On Sale Now at https://www.oaklandzoo.org/glowfari
Requirements for Entry: Mask, Proof of Vaccination & Valid ID
REO Speedwagon is set to bring their timeless hits and rock radio staples to San Jose.
The band, fronted by iconic vocalist Kevin Cronin, along with bandmates Bruce Hall (bass), Neal Doughty (keyboards), Dave Amato (guitar), and Bryan Hitt (drums), electrify audiences in concert worldwide with fan favorites such as “In Your Letter,” “Can’t Fight This Feeling,” “Time For Me To Fly,” “Roll With The Changes,” “Keep On Loving You”, “Take It On the Run,” and many more. When REO Speedwagon comes to San Jose, fans will enjoy an unforgettable night of classic Midwestern rock n’ roll.
Formed in 1967, signed in 1971, and fronted by Cronin since 1972, REO Speedwagon’s unrelenting drive, as well as non-stop touring and recording, jump-started the burgeoning rock movement in the Midwest.
Platinum albums and radio staples soon followed, setting the stage for the release of the band’s explosive Hi Infidelity in 1980, which contained the massive hit singles “Keep On Loving You,” and “Take It On the Run.” That landmark album spent 15 weeks in the No. 1 slot and has since earned the RIAA’s coveted 10X Diamond Award for surpassing sales of 10 million units in the United States. Today, REO Speedwagon has sold 40 million albums around the globe.