Bay Area Real Estate Update February 2023 | Mortgage Rates Back at 5%?

In this week’s Bay Area Real Estate Update, Spencer reviews the latest mortgage rates, which have dropped to around 5% for the first time since September 2022. Alongside these decreases, mortgage refi demand has juned 18%, perhaps a sign that good things are coming. He also looks at which 10 US metro areas are the most rent-burdened; whether the Bay Area’s largest planned-housing development, which has stalled again, will ever be completed; the latest with Google’s San Jose Village; and Apple’s newest big lease in Sunnyvale.Listen to this live Q & A with Bay Area real estate guru Spencer Hsu to learn what will happen to Bay Area housing before the media reports it! And if you ever plan on buying or selling a home in the Bay Area, you'll want to watch this update.We go LIVE this Saturdays at 10 am PT. Ask me anything! Text or call us today at 408-547-4590. You can also visit us at https://www.homesbyspencerhsu.com— TIMESTAMPS —2:55 Intro5:16 Mortgage Refinance Demand Jumps 18%9:40 These 10 Metro Areas Are the Most 'Rent-Burdened' in the U.S13:07 The Bay Area’s Largest Planned Housing Development Is Stalled Again. Will It Ever Be Completed?17:45 Silicon Valley developer vows hunger strike 'until death' if city won't let him build 22:05 Google San Jose Village Remains a Go – Connect CRE22:44 Apple Leases Big Sunnyvale Building as Tech Titan Widens Footprint23:47 Outro— WEEKLY HIGHLIGHT —Mortgage Refinance Demand Jumps 18% as Interest Rates Drop for the Fifth Straight Weekhttps://www.cnbc.com/2023/02/08/mortgage-refinance-demand-jumps-18percent-as-interest-rates-drop.html These 10 Metro Areas Are the Most 'Rent-Burdened' in the U.S. — New York City Comes in at No. 1https://www.cnbc.com/2023/02/08/these-are-the-10-most-rent-burdened-metro-areas-in-the-us.html The Bay Area’s Largest Planned Housing Development Is Stalled Again. Will It Ever Be Completed?https://www.sfchronicle.com/eastbay/article/housing-development-concord-naval-17760933.php Silicon Valley developer vows hunger strike 'until death' if city won't let him build https://www.mercurynews.com/2023/02/08/silicon-valley-developer-goes-on-hunger-strike-to-protest-construction-stop/ Google San Jose Village Remains a Go – Connect CREhttps://www.connectcre.com/stories/google-san-jose-village-remains-a-go/ Apple Leases Big Sunnyvale Building as Tech Titan Widens Footprinthttps://www.siliconvalley.com/2023/02/07/apple-sunnyvale-office-rent-real-estate-tech-iphone-build-job-economy/ —If you’re interested in buying, selling, or investing in residential or commercial real estate in the 📍SF Bay Area, contact me today! 📧[email protected] 📞(408) 547-4590 ⏰Set up a time to chat: https://calendly.com/spencerhsure 🌍 Find your dream Bay Area home https://www.homesbyspencerhsu.com/🎙️ Listen to my podcast: https://redcircle.com/shows/bayarearealestate📸Follow me on Instagram: https://www.instagram.com/spencerhsure/🧑‍💼 Let's connect on LinkedIn: https://www.linkedin.com/in/spencerhsu🛎 Don’t forget to subscribe for the latest real estate tips and updates: https://forms.gle/c5xkznHLTBh7Yzgi7🏠💲Track the value of your home and see if it's beneficial to refinance! http://bit.ly/3aFdyMW--My Background:Born and raised in the Bay Area, I spent 11 years as Technology Sales Manager before becoming a Realtor. Having personally invested and done renovations through house flips in the Bay Area, I wanted to help busy professionals in the Bay Area tech industry find their dream home by leveraging tech, data and local insights. Our team specializes in creating trusted frameworks for buying, selling, and investing in the Bay Area. In 2022, we are thrilled to share that we helped 80 clients with their moves, which positions our team among the Top 1% in the country. Looking forward to helping you into your next home and save/earn you more money! Looking forward to helping you! Spencer Hsu, MBA, [email protected] 408-547-4590EXP Realty DRE #02077253https://www.homesbyspencerhsu.com/#BayAreaRealEstate​​