Harv Balu's blog

The Bay Area housing market has been navigating a high interest rate environment, with 30 year mortgage rates climbing above 7% in 2023 and 2024...

The Bay Area housing market has been navigating a high interest rate environment, with 30 year mortgage rates climbing above 7% in 2023 and 2024. This surge in borrowing costs, combined with pandemic era price gains, has stretched affordability to near record lows. In late 2025, however, rates have eased to around the low 6% range. Policymakers and forecasters...

Home appraisals are a critical part of buying or selling property.

A Bay Area home appraisal is an unbiased estimate of a property's market value conducted by a licensed appraiser. Lenders require an appraisal to ensure the home’s value justifies the loan. This process protects buyers (so they don’t overpay) and lenders (so they don’t lend on an over-valued property). For sellers, a smooth appraisal is essential to close the sale at the agreed price. Understanding how real estate appraisals work, and how to navigate them, helps both buyers and...

Good news, neighbors. Housing affordability in California improved a little in the third quarter of 2025. As a local Bay Area Realtor, I am sharing what the latest Housing Affordability Index (HAI) means for Fremont, Milpitas, Newark, Union City, and Hayward. Below is a simple breakdown of the current HAI and year over year change, the statewide median home price and income needed to purchase a median priced home, and what we are seeing locally. I also include opportunities for buyers and sellers and a few strategies that...

Overview:

• In March 2023, BAAQMD adopted new rules that ban the sale and installation of new gas water heaters starting January 1, 2027, and gas furnaces starting January 1, 2029 across all 9 Bay Area counties. Larger commercial water heaters will be banned in 2031.

• Existing appliances are not affected. Homeowners can continue to use their current water heaters and furnaces, and there’s no requirement to replace them at the time of a home sale.

• The rules apply only to new installations after the...