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Kimberly Gates

K.G.

CA DRE# 01470998

Honest. Knowledgable. Warm. These are just a few words clients frequently use to describe Kimberly Gates. Born and raised in Southern California, Kimberly was drawn to the natural beauty and vibrancy of the Bay Area and has called the region home for the past 23 years.

Whether you’re looking for a peaceful oasis in Alameda, a trendy hotspot in Berkeley, a charming retreat in Oakland, or one of the East Bay's “hidden cities”, Kimberly can help you find the perfect place to live, work, and play—not to mention love.

After earning her Master’s Degree from Harvard University, Kimberly went on to have a successful corporate career with Kaiser Foundation Health Plan, General Electric Homeland Protection, Inc., and served as a governor appointee in the Gray Davis administration.

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  • Ralph

    “Kimberly Gates is a phenomenal realtor. Due to her knowledge, expertise and hard work our home sold quickly and for a record price for the area.”

  • Doug

    “Awesome experience working with Kimberly. She delivered every step of the way. You won't be disappointed. I couldn't be happier with how she handled everything.”

  • Brian

    “She is very professional, trustworthy, and approachable that makes you feel comfortable in negotiating with her all throughout the process. I would highly recommend her.”

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Neighborhoods

Oakland

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East Bay Hidden Cities North, South, and West

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West Contra Costa County

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Keeping Current Matters

For Sellers

The Average Homeowner Gained $56,700 in Equity over the Past Year

12/21/21   |   KCM Crew

When you think of homeownership, what’s the first thing that comes to mind? Chances are you might focus on the non-financial benefits, like the security or stability a home provides. But what about equity? While it can be overlooked, a homeowner’s equity helps build long-term wealth over time. Here’s a look at what equity is and why it matters. For a homeowner, your equity is the current value of your home minus what you owe on the loan. So, as home values climb, your equity does too. That’s exactly what’s happening today. There aren’t enough homes on the market to meet buyer demand, so bidding wars and multiple offers are driving prices up. That’s because people are willing to pay more to buy a home. Right now, this low supply and high demand are giving current homeowners a significant equity boost. Dr. Frank Nothaft, Chief Economist at CoreLogic, explains it like this: “Home price growth is the principal driver of home equity creation. The CoreLogic Home Price Index reported home prices were up 17.7% for the past 12 months ending September, spurring the record gains in home equity wealth.” To find out just how much rising home values have impacted equity, we turn to the latest Homeowner Equity Insights from CoreLogic. According to that report, the average homeowner’s equity has grown by $56,700 over the last 12 months. Curious how your state stacks up? Check out the map below to find out the average equity gain for your area. How Rising Equity Impacts You If you’re already a homeowner, equity not only builds your wealth, it also opens doors for you to achieve your goals. It works like this: when you sell your house, the equity you built up comes back to you in the sale. You can use those proceeds to fuel your next move, especially if you’ve decided your needs have changed and you’re looking for something new. If you’re thinking about becoming a homeowner, understanding the importance of equity can help you realize why homeownership is a worthwhile goal. It builds your wealth and gives you peace of mind that your investment is a wise one, not just from a lifestyle perspective, but from a financial one too. Bottom Line Whether you’re a current homeowner or you’re ready to become one, it’s important to know how equity works and why it matters. If this inspires you to make a move, let’s connect to explore your options and find out what steps you need to take next.

First Time Home Buyers

Homebuyers: Be Ready To Act This Winter

12/20/21   |   KCM Crew

To succeed as a buyer in today’s market, it’s important to understand which market trends will have the greatest impact on your home search. Danielle Hale, Chief Economist at realtor.com, says there are two factors every buyer should keep their eyes on: “Going forward, the conditions buyers face are primarily dependent on two things: mortgage rates and housing supply.” Here’s a look at each one. Mortgage Rates Projected To Rise in 2022 As a buyer, your interest rate directly impacts how much you’ll pay on your monthly mortgage when you purchase a home. Rates are beginning to rise, and experts forecast they’ll continue going up in 2022 (see graph below):As the graph shows, mortgage rates are expected to climb next year. But they’re still low when you compare to where they were just a few years ago. That presents today’s buyers with some motivation to lock in a low mortgage rate before they climb higher. More Homes Are Expected To Be Available This Season The other market condition buyers need to monitor is the number of homes available for sale today. The latest Existing Home Sales Report from the National Association of Realtors (NAR) shows the current supply of inventory sits at just 2.4-months. To put that into perspective, a 6-month supply is ideal for a balanced market where there are enough homes to meet buyer demand. However, there may be good news for buyers who are waiting for more options. A recent realtor.com survey shows more sellers are planning to list their homes this winter, meaning more choices will likely be available soon. What Does That Mean for You? Even if your options improve some this season, it won’t significantly shift market conditions overnight. According to NAR, many more listings need to be available to move closer to a more neutral market: “Given the average monthly demand . . . , 3.55 million homes should be on the market to meet a level of inventory equal to six months of demand, implying a shortage of homes for sale of 2.24 million.” So remember, even with more homes expected to come to market this season, competition among buyers will remain fierce as there still won’t be enough homes for sale to meet the current demand. That means you’ll need to act quickly when you’re ready to make an offer. Bottom Line If you’re planning on buying a home this winter, more options are welcome news, but it doesn’t mean you should slow down. Let’s connect today so you have an expert on your side to help act as quickly as possible when the right home for you hits the market.

Work With Kimberly

Kimberly is a long-time Bay Area resident and knows the market intimately. Call Kimberly today to schedule a private showing.

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