OAK NOTES from Grace Bishop

VCHAL
 
STARTING AT HOME: STABILIZING AND NOURISHING OUR ENVIRONMENT

Did you know buildings produce as much smog as all of the light-duty vehicles in California? That's about 40% of all of the state's greenhouse gas emissions. 

Last year, Berkeley was the first city in the country to adopt an electrification mandate for new construction and major rehabilitation. More than 30 California cities have followed similar ordinances, and this year we may also see efforts to increase electrification for existing buildings. A complete transition is taking place in our energy system - so investing in the electrification of your home is investing in the future.

 

Why make your house green?

"Greening" your home isn't just best for the planet. Renewable energy has proven to be increasingly more economic than fossil fuels and better for your health. For example, gas appliances leak methane from gas extraction and transmission, and if not vented outside the house, they can seep into your lungs. Studies show that gas stoves alone increase the risk of a child developing asthma by over 40%.

Homeowners spend an average of $2,000 a year on utilities. By making your home more efficient, you can cut your utility bills by about half. If you are looking to sell sometime in the future, making your house green increases its value. If you want to sell your home fast, studies show that homes with solar panels and other green features are on the market for significantly less time than those homes without. Agent surveys also show that 26% of their buyers find renewable energy systems "important" when purchasing a home.

As California transitions to more sustainable energy, homeowners can cash in using rebates. Come tax season you can even claim a credit on your taxes for some qualified energy efficiency improvements on your home.
 

Where to start?

  • Upgrade to renewable energy by installing solar panels or investing in wind power
  • Switch out your vehicle for a plug-in electric vehicle
  • Replace your gas appliances such as your stove and fireplace with electric solutions
  • Change your water, clothes dryer and space heaters to an electric heat pump (this can also result in free air conditioning)
  • Make sure walls, attics, basements, chimneys and air ducts are properly insulated and sealed
  • Swap your incandescent light bulbs for LED lights
  • Check your faucets and showerheads for leaks
  • Choose energy-certified appliances when you are looking to replace items
  • Install high-efficiency windows

By electrifying your home and vehicle, your carbon footprint can decrease by 60% or more. 

Moving your property to all-electric not only allows you to reduce your greenhouse gas emissions, but you're also helping to build a sustainable future while helping out the checkbook, too.

Reach out if you need any advice getting started on making this transition.

 



RECENT TRANSACTIONS

MARKET UPDATE: MARCH 2021


 

The East Bay real estate market continues to surprise. We have seen a consistent and strong rebound for months, and looking at March 2021, the growth remains impressive. 

The number of homes sold increased 80% in March 2021 compared to one year prior. This large increase is partially due to the fact that the market slowed significantly last year due to the shelter-in-place order. Buyers are hungry for inventory which has driven prices up 27% to a median of $1,150,000. Similarly, homes are selling an average of 15.7% over asking in an average of just 19 days. 

This data can vary by city, neighborhood and price point, so reach out if you'd like a custom analysis to help you reach your real estate goals.

 


MORTGAGE UPDATE

After a rapid spike in rates from February 11th to March 19th, the bond markets seem to have leveled off and found their new trading levels for now. The yield on the 10-year note jumped from the 0.90% range up to 1.7% over that span, dragging mortgage-backed securities prices up as well. Since topping out on March 19th, trading has been choppy but consistently within the same +/- 0.25% band. The reason for the increase in rates is concern over impending inflation and an increase in government spending. The housing market blew right through the rate increase as metropolitan areas all around the country reported hot sellers' markets and a lack of inventory for hungry buyers. 

While interest rates may not be at the lowest levels ever, the rates are still historically low so it's still a great time to consider refinancing or purchasing a property. If you would like more information about loans or interest rates, please contact Faramarz Moeen-Ziai of CrossCountry Mortgage, LLC at fmz@myccmortgage.com or 510.254.4697.

FMZ TEAM | CROSSCOUNTRY MORTGAGE

 

 


Personal NMLS342090 | Branch NMLS2020284 | Company NMLS3029

 



BRUNA BRANCO
 
LOCAL BUSINESS SPOTLIGHT: GOT JUICE

Spring is in full swing already and warmer weather is here which means it's a wonderful time to find a refreshing and healthy treat. Amidst COVID-19 in late July, Got Juice opened in the Laurel district and provides delicious juices, smoothies and acai bowls. Owned by Oakland natives and avid juicers, Brandon and Terrell set out on a mission to bring a healthy haven to their hometown. With newly extended hours you can stop by between Monday-Saturday 10 AM - 6 PM. So be sure to grab yourself a tasty treat and enjoy the great weather spring has to offer.

3843 Macarthur Boulevard Unit B, Oakland · gotjuiceoak@gmail.com · 510.500.3245 · Instagram: @gotjuiceoak

 




 
LAST CALL TO VOTE FOR OAKLAND MAGAZINE'S 2021 BEST OF!

Voting ends April 18th at 11 PM for Oakland Magazine's 2021 Best Of! Red Oak Realty has been nominated as Oakland's BEST REAL ESTATE COMPANY by Oakland Magazine and has won this esteemed title now for 6 years. We are so honored and grateful to all of our clients and friends - you make this possible! Please take a moment to go to the Oakland Magazine website and vote for Red Oak and your favorite local businesses. It means a great deal to be recognized by our communities that we all love so much. Thank you!

 



Grace Bishop
Realtor | #01245471
510.872.4512