In the first quarter of 2018, the Bay Area housing crisis reached an even more extreme level. Our Open Listings study in February found that home affordability was even becoming a problem for six-figure salaried technology workers across Silicon Valley. Today, $2 million homes for sale in the Bay Area look like this, and if tech workers decide to rent, they're forking over $4,500 a month. So, where are these workers headed? According to recent data crunched by LinkedIn,
New construction homes seem like a no-brainer if they're available and you can afford them, right? While you might think there wouldn't be as much to do or to consider when buying a brand new home compared to a previously-owned one, there's still things you need to look out for to make sure you're making the best investment. Here are the top four things to remember when buying a new construction: #1. You aren’t buying the model home Wherever
First-time homeowners find stability in a hectic market After a decade of renting, Jessica and her fiancé Sam grew tired of the volatility that came with the increasing costs of living in Los Angeles. So, as median monthly rents creeped up ~5.5% each year, the couple looked to home ownership for greater financial security and peace of mind. "I mainly wanted to get out of renting because I was scared of getting pushed out [of my place],"
Even if you thought you were going to stay put in your home for a while, these days, "forever homes" don't really mean forever. In fact, the average American is expected to move over 11 times in their life. If you’re on the fence about whether or not to sell your home and upgrade in the near future, we’ve compiled a list of hard-hitting questions for you to have a little real talk with yourself and
Photo of a contemporary pre-fabricated home from Kasita If you’ve seen the success of shows like Tiny House Hunters, you know as well as we do that the fascination with prefab homes is back in full swing. While not every prefab house is a tiny home, these properties -- which by definition are built in sections and then shipped and assembled on site -- do offer a level of flexibility and affordability that’s not often seen with conventional
For many buyers, adding an escalation clause seems like the answer to a big problem: the end to endless negotiations in a bidding war. Especially in seller’s markets like the ones we’re seeing today, this clause may seem like a huge relief. But, there are several considerations before deciding to include one to ensure you've got your best foot forward. What is an escalation clause? An escalation clause is most often seen in markets where multiple offers are
With the rising costs of real estate, more home owners and prospective buyers are looking to make the most out of their property. Whether you call them by their proper name -- accessory dwelling units -- or you know them as something else, we're breaking down what the term means, why these units are so popular, and, if you’re interested, how you can go about putting one of your own on your new property. So, what is an accessory
Okay, so maybe you're not quite ready to create your property empire, but the good news is, you don’t have to wait until you can afford to buy an investment property to find out if the landlord life is in your cards. These days, more and more people are renting out a room in their primary residence to get a taste of what having tenants will be like and to offset the rising costs of home ownership. If you’
Usually, when home sale contingencies are discussed, the conversation revolves around how the right clause can be used to give the buyer "an out" if their financing falls through or if inspection reports come back with a ton of red flags. However, there are also contingencies that offer home sellers an added layer of protection if the sale goes awry. With that in mind, here are some of the most common seller contingencies, as well as why they're
Heading to the Southern California desert this month to soak up the sun? You're not the only one. Open Listings is bringing our all-in-one homebuying service to one of our favorite places ~ Palm Springs. Now, you can make your Palm Springs getaway home dreams (or all-the-time home dreams) a reality, all while saving thousands with our commission refund of up to 50%. Just use the Open Listings site or app to find homes for sale in Palm Springs, house hunt
Buying a home is a huge purchase, so there’s no shame in taking steps to spend your money wisely. But, in seller’s markets like we’re seeing across most of the country right now, this task can feel unsurmountable. However, it’s still possible to get a deal on your home. You just have to be a smart shopper & be willing to do a little legwork in order to score a great sale price. We’ve shared
If you work for yourself and you're ready to buy a home, you're not alone. These days, more people are choosing to become freelancers and entrepreneurs than ever before. And, while you may once have heard that becoming a homeowner is impossible while self-employed, fortunately, that outdated idea is a thing of the past. Buying a home as a freelancer or entrepreneur may be slightly different than going through the process while working a 9-to-5, but it's definitely doable. Read
Navigating the waters of building permits is no fun. As a buyer, it's crucial to know whether the home you’re purchasing includes permitted work. If not, it’s even more vital to figure out what risks you could face going forward and how you should go about remedying the issue. In an effort to help you sort this issue out once and for all, we took the liberty of answering some of your biggest permitting questions so you’ll
In case you haven’t heard, Open Listings is now live in Austin, TX -- and, we’re not alone. According to the 2018 Emerging Trends in Real Estate Report, Austin is the second-fastest growing city in the nation, just behind Seattle (which we're also in). The city's rise in popularity is anything but surprising. In a place known for everything from a vibrant music scene to unforgettable barbecue and affordable housing rates, everyone wants a piece of the action.
Buying a house is all about mastering the art of give-and-take. Many buyers think that the purchase price is the main negotiation point, but in reality, that’s only one piece of the offer. By learning where your major negotiation points are (and how to use them), you’ll have the advantage of being able to craft an offer that works in your favor while simultaneously seeming beneficial to the seller. Realistically, there are five big negotiation points to consider