Archive for January, 2014
Now that the housing market has stabilized, more and more homeowners are considering moving up to the home they have always dreamed of. Prices are still below those of a few years ago and interest rates are still below 5%.
However, sellers should realize that waiting to make the move while mortgage rates are increasing probably doesn’t make sense. As rates increase, the price of the house you can buy will decrease. Here is a chart detailing this point
If you are looking to purchase your new and improved dream home, you’ve come to the right place! Contact me for more help and information. I would love to hear from you!
There are many naysayers declaring that the housing market is still challenged.
Young adults are burdened with too much student debt. Interest rate increases are killing demand. Homeownership is no longer seen as part of the American Dream.
We just want to let these naysayers know three things: 13,945 houses sold yesterday, 13,945 will sell today and 13,945 will sell tomorrow. 13,945!
That is the average number of homes that sell each and every day in this country according to the National Association of Realtors’ (NAR) latest Existing Home Sales Report. According to the report, there were 5.09 million homes sold in 2013. Divide that number by 365 (days in a year) and we can see that, on average, almost 14,000 homes sell every day.
NAR revealed that sales had increased 9.1% as compared to 2012 and that it was the market’s strongest performance since 2006.
We realize that these numbers are below the record for homes sold during the boom. We also know that we may not see those numbers again for a long time (and that is probably a good thing). But to say that the current real estate market is challenged is totally inaccurate. We have about 14,000 pieces of evidence to prove that.
So, if you are looking to buy or sell a home, now is a great time to do so! If you are looking to either buy or sell in Fountain Valley or Huntington Beach, I am ready to help you through that exciting process. Contact me at [email protected] or (714)615-6215 for more information. I would love to hear from you!
As a buyer, you must be concerned not about price, but instead about the “long term cost” of the home.
Last month, the Mortgage Bankers Association(MBA), the National Association of Realtors, Fannie Mae and Freddie Mac all projected that mortgage interest rates will increase by about one full percentage over the next twelve months. We also know that many experts are calling for home prices to also increase over the next year.
What Does This Mean to a Buyer?
Here is a simple demonstration of what impact an interest rate increase would have on the mortgage payment of a home selling for approximately $250,000 even if home prices don’t increase:
If you are a buyer and are interested in purchasing a home in Huntington Beach or Fountain Valley, contact me for help and useful information. I would love to hear from you and aide you in purchasing your next home!
From November 2012- November 2013, the monthly payment difference reached an extreme amount of over $200. If waiting only a year cost that much in 2013, imagine the numbers how high the numbers will skyrocket this year. If you have been thinking of buying a home.. THE TIME IS NOW.
If you are interested in buying a Fountain Valley or Huntington Beach home, I would love to assist you in that process. Contact me for more details or with any questions or concerns. I look forward to hearing from you.
The price of any item (including residential real estate) is determined by ‘supply and demand’. If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.
According to the National Association of Realtors (NAR), the supply of homes for sale dramatically increases every spring. Putting your home on the market now instead of waiting for the increased competition of the spring might make a lot of sense.
Buyers in the market during the winter months are truly motivated purchasers. They want to buy now. With limited inventory available in most markets currently, a seller will be in a great position to negotiate.
If you are looking to sell your Huntington Beach or Fountain Valley home, I would love to assist you in this exciting process. Contact me for more information; I look forward to hearing from you!
There is expected to be a dramatic increase in demand for housing expected this year. Because of this, the market for selling is great.
Since we are coming out of the winter months, now would be the best time to put your home on the market. As the spring selling season begins to heat up, a new wave of housing inventory will have to come in attempt to keep up with the increasing demand of buyers. Beat the rush, put your home on the market now!
For more help on starting this process, contact me. I would love to hear from you.
Many housing pundits are calling for home sales to do slightly better in 2014 than they did in 2013. To the contrary, we strongly believe that home sales will skyrocket with increases of 10-15% in 2014. Here are the three categories of buyers we believe will create this strong demand.
The First Time Buyer
The Urban Land Institute recently released a report, Emerging Trends in Real Estate 2014, projecting that 4.48 million new households will be formed over the next three years. Millennials will make up a large portion of these new households. With the economy improving, we believe they will finally be moving out of their parents’ homes and, when they compare renting versus buying, many will choose homeownership.
The Move-Up Buyer
Over the last several years many homeowners were trapped in their home by negative equity. This prevented them from moving up to the home of their dreams. Zillow has just revealed that home equity increased by $1.9 trillion dollars in 2013 an increase of 7.9% in the last twelve months. With home values rising, this pent-up demand will finally be released and move-up properties will be in high demand.
The Immigrant Buyer
No one knows what will happen with immigration reform. However, we do know what such reform would have on housing demand. A recent study released by the Immigration Task Force of the Bipartisan Policy Center (BPC) found that immigration reform, if passed, would dramatically increase demand for housing units; increasing residential construction spending by an average of $68 billion per year over the next 20 years.
We realize that our projections are based on three situations that are still uncertain. However, we believe that these issues will come to fruition and thereby dramatically increase demand for homeownership.
If you or someone you know would like to make the step in either buying or selling a Fountain Valley or Huntington Beach home, contact me from more information and help on starting the process! I would love to hear from you.
Finding the right realtor is very important. I value your time and opinion, and can help you in buying or selling a Fountain Valley or Huntington Beach home. Contact me at [email protected] or 1(714)815-6215 for more information. I would love to hear from you!