Young age (20-24) low incomes and less educated (Below high school diploma) workers, are the most affected groups that are unemployed (page 19-21). REAL ESTATE is not in their interest list. That's why in this recession REAL ESTATE won't get affected. >> GOTO the following link to see the report << https://bhhsmarketingresource.com/p/315894260c2ea41e6de60cc926f46c1b/9016497
October 20, 2020
October 16, 2020
A new report from AgentAdvice revealed that in April, when the pandemic forced shut-down orders across the country, the number of newly licensed real estate agents in some states fell to practically zero. In states where strict shelter-in-place orders were in effect, new licenses sank completely in April according to AgentAdvice. But as the spring gave way to a record-breaking summer for home sales, the profession began attracting a lot of attention. By the end of July, the National Association of Realtors reported that it had grown to 1,409,727 total members, up 1.9% from the same time last year. In the Sacramento area, Jodi Martinez said she has seen a surge of newly licensed hires come to Century 21 Select because of the pandemic as well. Layoffs, forced retirement and second or third career choices seem to be the main reasons Martinez sees people getting their licenses. “Also, I’m seeing an insurgency…I think it’s part of the pandemic but also has to do with a really strong housing market and the fact that rates are really low. Many people are buying into real estate becoming very relevant again. What I’m also finding is that people don’t want to be necessarily tied to a job that determines their livelihood or their future, many people love the flexibility of real estate as well as the probability to create their own income stream and be responsible for their own income stream.” Martinez said. Source: HousingWire Where do we want to live in the years ahead? Older adults are asking this question anew in light of the ongoing toll of the coronavirus pandemic — disrupted lives, social isolation, mounting deaths. Many are changing their minds. Some people who planned to move to senior housing are now choosing to live independently rather than communally. Others wonder whether transferring to a setting where they can get more assistance might be the right call. These decisions, hard enough during ordinary times, are now fraught with uncertainty as the economy falters and Covid-19 deaths climb, including tens of thousands in nursing homes and assisted living centers. Nervousness about senior living has spread as a result, and in July, the National Investment Center for Seniors Housing & Care reported the lowest occupancy rates since the research organization started tracking data 14 years ago. Meanwhile, some families are finding that older relatives living independently, especially those who are frail or have mild cognitive impairments, are having difficulty managing on their own. While many operators instituted move-in moratoriums early in the pandemic, most now allow new residents as long as they test negative for Covid-19. Quarantines of up to two weeks are also required before people can circulate in the community. Source: CNN/Money |
Even before we saw the jobs report, the Federal Reserve decided to step in with an "emergency" rate cut in response to the coronavirus crisis before their next scheduled meeting. Even though we have not seen many negative reports on the economy, the Fed saw what was on the horizon. The only problem is that the markets viewed this as somewhat of a panic move by the Fed -- verifying that the worst may be coming. The stock market rallied the day before the news, but fell back after the Fed acted. From there, the recent volatility continued.
Of course, one day of reaction does not mean that the Fed's move was not on target. We do know that if a coronavirus slowdown hits, the Fed will have less ammunition to fight with, as their short-term rates are pretty close to zero. With regard to the jobs report, the economy still seems strong to us. The increase of 273,000 jobs in February was above expectations. There was also a revision upward of January's strong report -- to the tune of almost 50,000 jobs. Together the report was seen as much stronger than expected. The headline unemployment number rose to 3.6%, still near a historic low. Wage increases were at 3.0% annually, meaning that inflation remains under control.
The next report that is released will not be considered a "pre-virus" report, though certainly the full effect of the virus may not be seen for some time within our economy. We obviously receive a lot of goods from China and the shortages which are cropping up will likely have some impact. Certainly, the travel industry will be affected as well. How much, we are not sure. We can say that our lower interest rates will counter with some positive stimulus in the short run, especially within the real estate markets and with regard to refinances.
The Markets. Rates officially hit their all-time lows last week. For the week ending March 5, Freddie Mac announced that 30-year fixed rates moved down to 3.29% from 3.45% the week before. The average for 15-year loans decreased to 2.79% and the average for five-year ARMs moved down to 3.18%. A year ago, 30-year fixed rates averaged 4.21%, over 1.00% higher than today. Attributed to Sam Khater, Chief Economist, Freddie Mac - "The average 30-year fixed-rate home loan hit a record 3.29 percent this week, the lowest level in its nearly 50-year history. Meanwhile, applications for home loans increased 10 percent last week from one year ago and show no signs of slowing down. Given these strong indicators in rates and sales, as well as recent increases in new construction, it’s clear the housing market continues to be a positive force for the broader economy." Note: Rates indicated do not include fees and points and are provided for evidence of trends only. They should not be used for comparison purposes.
Current Indices For Adjustable Rate Mortgages
March 6, 2020
Monthly Value February
6-month Treasury Security 1.51%
1-year Treasury Security 1.41%
3-year Treasury Security 1.31%
5-year Treasury Security 1.32%
10-year Treasury Security 1.50%
12-month LBOR 1.382% (Feb)
Prime Rate 4.25% (March)
Sales of newly built single-family homes saw a large jump in January, as warm weather in many parts of the U.S. prompted an early start to the homebuying season, says Jing Fu, director of forecasting and analysis at the National Association of Home Builders. New-home sales rose 7.9% in January to a seasonally adjusted annual rate of 764,000 units, the U.S. Commerce Department reported. Sales are 18.6% higher than a year ago and are at the highest monthly sales pace since July 2007. While sales are increasing, inventories remain low. New-home inventories are 6.6% lower than a year ago and are at the lowest supply since 2017. “The months’ supply has fallen to 5.1 [months], indicating additional housing inventory is needed,” Fu says. That echoes the calls of many economists from the real estate industry—including the National Association of REALTORS®—who have been calling on home builders to ramp up residential construction to meet growing demand among home buyers. “Demand conditions in January continued to be favorable for new-home sales,” economists Ben Ayers and Daniel Vielhaber wrote in a research note on Monday. “Unemployment and mortgage rates continue to be very low, household formations continue to run hot, while the inventory of existing houses on the market is extremely limited, pushing more home buyers into the market for new homes.” The median sales price was $348,200 in January. A year ago, it was $305,400. Source: MarketWatch
Millennials and Gen Zers exploring the possibility of homeownership are still getting assistance from the Bank of Mom and Dad to help finance their property purchasing, according to a new survey. The survey, which polled 1,045 adults, found 77 percent of Millennials and Gen Zers are expecting to receive financial assistance from their parents to purchase their first home. The most common expectations included downpayment assistance (38 percent), co-signing the home loan (31 percent) and covering closing costs (24 percent). Of those expecting down payment assistance, the majority of respondents were looking for less than $10,000, while 19 percent anticipated $10,000 or more. Among the one in four Millennials and Gen Zers who indicated that they were not interested in buying a home, 61 percent said they would be willing to change their minds if their parents helped them. On the parents’ side, 65 percent said they were willing to help their children buy a home. However, 76 percent of parents said they had yet to provide this type of financial support. Source: DS News -- Contact us for a free article entitled "Do You Want to Help Your Children?"
It is growing harder for middle-income Americans to afford to rent an apartment, the Harvard Joint Center for Housing Studies reported. Higher-income households have accounted for much of the growth in rental demand since 2010 and new supply has focused on the multifamily market’s upper end. Meanwhile, rising demand and constricted supply have reduced the stock of low- and moderate-cost rental units, leaving modest-income Americans caught in the middle, Harvard’s America’s Rental Housing 2020 report said. The report said households with incomes exceeding $75,000 accounted for more than three-quarters of the growth in renters between 2010 and 2018. “This shift has significantly altered the profile of the typical renter household,” it said, calling a growing number of renters with incomes between $30,000 and $75,000 “cost-burdened” by paying more than 30 percent of their income for housing. In addition, most of the lowest-income renters spend more than half of their monthly income on housing, the report said. “Despite the strong economy, the number and share of renters burdened by housing costs rose last year after a couple of years of modest improvement,” said JCHS Managing Director Chris Herbert. “And while the poorest households are most likely to face this challenge, renters earning decent incomes have driven this recent deterioration in affordability.” Source: JCHS
Overview: Partly due to additional economic reports being delayed by the government shutdown, there was little market-moving economic news over the past week, and mortgage rates ended slightly higher.
The data on housing starts in December, which was scheduled to be released on January 17, was the latest major economic report that was postponed due to the lengthy government shutdown. The lack of several key pieces of economic data in recent weeks has made it more challenging for investors and Fed officials to gauge the pace of economic growth. The estimated effect of reduced spending by out-of-work government employees also must be factored in. Around 800,000 people are either furloughed or working without pay during the shutdown, and this does not include the hundreds of thousands of contractors who also are employed by the government. Economists have put forth a wide range of estimates about the impact of the shutdown on the U.S. economy, creating added uncertainty for investors, consumers, and businesses.
The housing market data, which did come out this week, was disappointing. In December, sales of previously owned (existing) homes unexpectedly fell 6% from November and were 10% lower than a year ago. The supply of homes for sale also declined from November but were a little higher than a year ago. Median home prices were up 3% from last year. Overall, 2018 was the weakest year for home sales since 2015, as the effects of rising mortgage rates, high home prices, stock market volatility, and the government shutdown were felt late in the year. Investors will be watching closely to see if December’s weakness was mostly due to temporary factors or was an indication of what’s ahead in 2019.
https://www.facebook.com/AmirVRealEstate
Week Ahead
Looking ahead, the next European Central Bank (ECB) meeting will take place on Thursday and could influence U.S. mortgage rates. The next U.S. Federal Reserve meeting will take place on January 30. In addition, the Durable Goods report, an important indicator of economic activity, and the New Home Sales report are scheduled to be released on Friday. The Pending Home Sales (PHS) Index will come out on January 30. The next key Employment Report will be released on February 1. The government shutdown could affect some of these release dates.
#amirvhomes
Not educating yourself on the buying process, this can be very stressful and frustrating as buying your first home is a very big commitment and a very important moment in your investment history.
Not having the right real-estate team in place / not to have a real-estate team at all. Simply put, having a professional real estate expert will not only save money but time!
Finding a home before taking the location in to considering for long term living, for example are there schools close by? Good supermarkets and additional amenities in the area that are important to you to be close? What’s the future expansion of the general area and road ways?
Buying based on emotions. Wanting to buy a property because family lives close by or because you grew up in the area is certainly not reason enough.
Not being financially prepared / pre-approved for bank mortgage if required. It is important to start saving your money months if not years in advance as most banks require a 10% (for local) and up to 30% for permit based or foreign status, down payment. A onetime fee of 7.5% Stamp Duty is payable, lawyer fees and home and life insurance will be necessary to pay upfront.
Not putting the appropriate condition clauses and time frames in the offer to purchase, such as if a bank is involved. Omitting that you should obtain a valuation, the latter of which will be a requirement.
Not having a professional engineer do a proper inspection of the roof and structure. This is crucial as you are only seeing the face value of the property while viewing the property; having a professional inspection commissioned for review on the structure of the property is very important so to know exactly what you are getting yourself into.
Falling gas prices can shorten the time it takes a house to sell and can increase the selling price, according to results from an ongoing longitudinal study by Florida Atlantic University and Longwood University faculty. Using data from central Virginia and spanning over 10 years of gas price changes and housing transactions, researchers found statistical evidence to indicate that for every $1 per gallon decrease in gasoline price, average time to sell a property decreases by 25 days. In addition, for every $1 per gallon decrease in gasoline prices the average selling price rises by 2.4 percent, which amounts to roughly $4,000 per sold property in the study. The good news from the seller's perspective does not end there. A $1 decrease is also shown to increase a seller's chances of selling and closing by roughly 20 percent. "In the event of a forced sale, these odds are very welcome news for a seller who might already own a second property and must close," explained Ken Johnson, Ph.D., a real estate economist and an associate dean of graduate programs and professor in FAU's College of Business. Based on these findings, the immediate future looks bright for home sellers. Gas prices are down nearly $1 from where they were a year ago, and prices this summer are expected to be the lowest they've been since 2009 "due to stabilizing crude oil costs and as refineries complete seasonal maintenance," according to the American Automobile Association (AAA). Source: PR Newswire
Fifteen Republicans are fighting for their party's nomination for president in 2016. The Democratic seekers of the White House so far number five. All 20 of these possible presidential candidates have divergent policy positions, even within their own parties. But one area that all generally agree on is that the tax code is too complex. Another tax issue that also seems consistent across most major candidates is that a tax break for homeowners is safe. Even this election cycle's biggest booster of the so-called flat tax, Sen. Rand Paul, R-Ky., says in his proposal that he would continue tax deductions for charitable donations and interest on home loans. The numbers make it clear why homeowners get such attention. Although Commerce Department data show that homeownership for the first quarter of this year was at its lowest level in 20 years, most of us still own the places where we live. Almost 64% of Americans own their homes. So while weakened, the American dream of a yard for the kiddies and a home loan that offers a tax break persists. Source: BankRate.com
A recent survey shows that consumers saving for a home are willing to forego modern conveniences in order to secure a down payment. That may even mean giving up phones, Internet, cable TV, or Starbucks, according to a newly released survey by the business advisory firm the Collingwood Group. Potential first-time home buyers are making such sacrifices because they want to be able to make a sizable down payment on their home purchase. Nearly two-thirds recently surveyed say they’d like to put 20 percent down or more on their home purchase. First-time home buyers are increasing their ranks lately, with their share in the housing market rising to 32 percent in May. That matches their highest share since September 2012, according to the National Association of Realtors®. A year ago, first-time buyers represented 27 percent of all buyers. The survey showed that around 62 of potential first-time buyers are making plans to purchase a home within the next two years. In addition, more than two-thirds of consumers – 68 percent – who say they’re looking to purchase their first home say they want a move-in ready home, while one-third said they’d buy a fixer-upper. Source: MReport
As always, if I can ever help you, your family or friends with any real estate needs, I’d be delighted.
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https://www.ocluxuryproperty.com/home-evaluation.html
#amirvahdat #Lagunabeachhomes #coastahomes
The chart below shows a cost comparison for a renter and a homeowner over a 7 year period.
The renter starts out paying $800 per month with annual increases of 5% The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000
After 6 years, the homeowner’s payment is lower than the renter’s monthly payment
With the tax savings of homeownership, the homeowner’s payment is less than the rental payment after 3 years
The decision to buy or rent depends on your current financial situation, your future plans and the lifestyle you want to live. Both options have their own set of benefits, and potential drawbacks, that should be carefully evaluated.
https://www.ocluxuryproperty.com/dream-home-finder.html
The advantages of owning or renting are different for everyone, so be sure to consider these important personal situations and long-term goals before making your decision.
Amir Vahdat | Broker
p: 949-682-9090 f: 949-499-14174
e: amirvahdat@bhhscal.com
w: https://www.ocluxuryproperty.com
| Amir Vahdat (949) 682-9090 amirrealtorbroker@gmail.com https://www.thelagunabeachrealestate.com |
Berkshire Hathaway HomeServices 30812 S. Coast Hwy. Laguna Beach, CA 92651 |
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Benefits of Solar ElectricitySolar-generated electricity has been gaining popularity among homeowners. For years, photovoltaic (or PV) systems, which convert sunlight into electricity, have been used to generate power. The most frequent application of PV can be seen in such consumer products as hand-held calculators, portable lights and watches. Recently, this alternative energy source has received attention from an increasing number of homeowners who are interested in protecting the environment. According to one survey, the majority of today's affluent households are in favor of utilizing renewable energy resources to produce electricity, and six out of 10 are in favor of self-generated clean power. Solar panels scored high on the list, followed by fuel cells and micro-turbine generators. Many of today's homeowners are already using, or are considering using, PV systems to generate much of the electricity used in their homes. Less expensive systems feature fewer PV panels that offer supplemental or backup power. More costly systems can include mechanized panels that pivot to follow the sun to gather as much solar energy as possible. Consumers may find the price of these systems begin to drop as more homeowners add them to their existing homes and more new homes are built with them. |
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Getting a Good Night's SleepInsomnia,
sleep apnea and other sleep-disrupting conditions prevent more than 40 million
Americans from getting restful sleep. Sleepless nights are not only frustrating,
they can put you at risk for obesity, high blood pressure and make you more
prone to depression. If you suffer from a sleep disorder, there are some steps
you can take to get a few extra hours of rest. Don't consume anything with caffeine, including chocolate, within four to six hours of bedtime and don't exercise within two hours of bedtime. Exercising raises your heart rate and body temperature - both of which can keep you awake. Avoid
over-the-counter sleep aids. While they might help you fall asleep, your body
can build a tolerance in only a few nights. If, despite your preparations, you
wake up in the middle of the night, consider this advice: Get out of bed and
read or find something relaxing to do, but don't do housework or office work,
and don't turn on the television. Have a snack if you're hungry. A banana or
glass of milk provides a bit of tryptophan, an amino acid which acts as a mild
sleep inducer. Move your pets off the bed. In a Mayo Clinic survey of 300 people
with sleeping disorders, half of the individuals had pets - and half of those
pets slept in the survey participant's bed. Write in a journal. By writing down
what's on your mind you may be able to stop worrying. |
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Green CleaningYou want your home to look its best, but some products used to clean your home may be doing more harm than good. Some cleaning products contain harsh chemicals that may cause skin irritation, difficulty breathing or damage to the environment. Green cleaning is using products that don't endanger you, your family or the environment. So why not "think green" and select from these safe and effective natural alternatives:
Be sure to clearly label any solutions you mix and spot test each solution before using it on a large area. |
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Question and AnswerI feel like I am constantly on the go, but I want to be able to prepare lunches for my family. Do you have any suggestions? If you are a busy parent and would like to make nutritious lunches for your family, remember that the key is to plan ahead. And changing the plan each week will eliminate boredom, as well as the temptation to stray from healthy eating habits. You can start by creating a menu plan at the beginning of each week and
taking it along when you shop. Avoid prepackaged junk food, and opt for snacks
like dried or fresh fruit and low-fat granola. Include old favorites along with new variations. Spice up a plain salad by adding chopped apples, raisins, nuts, peppers, chickpeas, cauliflower or pine nuts. Or make a sandwich with whole-grain pita bread, bean sprouts and cucumbers instead of traditional white bread and lettuce. On days when you don't have time for a homemade lunch, opt for something such as a broiled chicken breast or visit a salad bar. And make sure your children know what wholesome choices they should make at their school cafeteria. |
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Smart Shopping for AppliancesBuying new appliances can be an expensive investment, especially if you've just purchased a home. Whether you're furnishing your home for the first time or need to update your old appliances, the following tips can help you stretch your shopping dollars and get the most for your money. Before buying any appliances, measure the height, width and depth of the space where they will be placed. Also measure any doorways or halls the appliance will have to move through to ensure it will fit. Kitchen Consider your lifestyle. Do you have a large family or entertain often? Do you enjoy gourmet cooking or will you regularly "pop" something in the microwave? There are many styles and finishes from which to choose. Do you want a side-by-side, top-mount or bottom-mount style of refrigerator? Models with a water and ice dispenser in the door are handy, but decrease your refrigerator's energy efficiency. Should you buy a gas or an electric range? Keep in mind that sealed gas or smooth top electric ranges are easier to clean than ones with open burners. Self-cleaning ovens eliminate the need for chemical cleaners and are typically more energy efficient. Compare the inside of dishwashers before selecting one; they may look the same size on the outside, but different models accommodate large pans and serving dishes more easily than others. If you are limited on space, you may want to buy a portable dishwasher. Utility Room You also have a choice between electric and gas when it comes to clothes dryers. Electric dryers may cost less initially, but gas tends to be cheaper to operate. When buying any appliance, decide on the make and model you want, then do some comparison-shopping. Contact at least three stores, mention the lowest price you've seen, and ask if the manager will beat that price. Be sure to inquire about delivery and installation charges before making your purchase. |
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https://ocluxuryproperty.wordpress.com/2014/10/09/our-weekly-real-estate-update-for-south-orange-county-and-coastal-october-2014-by-amir-vahdat-949-682-9090/
Amir Vahdat – www.ocluxuryproperty.com
At first blush, it appeared that the jobs report was disappointing. The addition of 142,000 jobs in August was much less than the average of over two hundred thousand for the previous six months. Yet, the day of the report, the stock market reacted positively and interest rates did not fall as expected. What could have caused this “adverse” reaction? To us there are three possibilities. First, the same day as the jobs report, a cease fire was signed in Ukraine. As we have said previously, the world news is over-shadowing our domestic economic news this summer. If the truce holds, this is a positive indicator for the stock market but not necessarily positive for the continuation of lower interest rates.
Secondly, the markets may be betting that the lower number of jobs added might be a one-time occurrence. The jobs numbers are often revised in future months and the markets are not likely to get upset over one report. Now, if we get two or three reports below an average of 150,000 jobs each month, this could be worrisome to the markets. Looking at other indicators such as first time claims for unemployment and the ADP private payroll report, there was no indication that the job creation machine slowed down last month.
Finally, even if the production of jobs does slow down, the markets may not be too upset. Slower job growth might cause the Federal Reserve Board to keep short-term interest rates lower for a longer period of time and nothing would boost the stock market more than the prospect for a continuation of lower rates. This factor would apply if the production of new jobs does not slow any further from here. As we indicated last week, it is a good sign with regard to how far we have come in our recovery for the markets to now consider over 140,000 jobs created in a month a poor performance. Which of these factors is correct? There could be a bit of truth in each theory. You can bet on the fact that the Federal Reserve Board’s Federal Open Market Committee will be considering these possibilities as they meet this week.
Have the property ready to market and sell with no lost days.
At least 2.5 million borrowers will face an average increase of $250 per month on their monthly mortgage payment due to the imminent reset in home equity lines of credit over the next three years, according to Black Knight Financial Services’ Mortgage Monitor Report. However, depending upon borrower behavior between now and the time of the reset, payment increases could change, Kostya Gradushy, Black Knight’s manager of research and analytics, said. Borrowers whose HELOCs will reset over the next three years are utilizing just under 60% of their available credit. If these borrowers utilize more of their credit, they could face even more payment shock as the monthly increase would rise above the $250. And the news is not much better for the borrowers whose payments are not likely to reset until 2019. These borrowers are exhibiting even lower utilization ratios — about 40% of their available credit. Once reset, they will likely face an average monthly increase of $200. “Should their drawing pattern match that of older vintages, we could be looking at a significantly higher risk of ‘payment shock’ for this segment,” Gradushy said. Source: HousingWire
Builder confidence in the market for new, single-family homes rose two points in August, bringing the National Association of Home Builders/Wells Fargo Housing Market Index to its highest score since the beginning of 2014. NAHB surveys builders across the country and asks them to rate their sales expectations for the next six months, their confidence in current single-family home sales, and their perceptions of prospective buyer traffic. “Each of the three components of the HMI registered consecutive gains for the past three months, which is a positive sign that builder confidence appears to be firming,” NAHB chief economist David Crowe said in a statement. Builder confidence in current sales conditions rose to a score of 58, while expectations for future sales rose to 65. The third index, which gauges expectations for prospective buyer traffic, hit 42. The overall increase in the HMI index can be attributed to factors including sustained job growth, historically low interest rates, and affordable home prices, Crowe said.Source: NAHB
Recently, the Federal Housing Administration announced that they are halting the policy of allowing lenders to collect interest to the end of the month when the homeowner’s FHA mortgage is paid off. Beginning in January of 2015, lenders will be able to collect interest until the day the loan is paid off. However, it should be noted that for the millions of homeowners who currently have home loans insured through FHA, there is no change in policy. The new policy affects only those who obtain new FHA loans in January of 2015. What does this mean for present homeowners? It is important to time refinances and sales of houses to allow time to get the payoff to the present lender before the end of the month. Otherwise, the homeowner could owe a full month of extra interest. The worst time to close on a real estate transaction is the last day of the month because all service providers are especially busy on that day — from the lender to the settlement company. This rule is more on target for those who have FHA loans because payoffs do not go to the lender the same day. On refinances, the homeowner should close their new loan 10 days before the end of the month because the present loan is not paid off until a three day “right of rescission” expires. On a purchase, allow at least one full week before the end of the month to make sure you don’t get stuck paying almost a full extra monthly payment on the present loan being paid off. Note: If you are considering moving up or refinancing your present home and are not sure whether you presently have an FHA loan, we would be happy to help you determine this as well as assisting you with your new transaction.
Choose your agent and their company wisely. My team of Experienced, Wealthy Clients, and Berkshire Hathaway (Warren Buffet Company)
I hope this report finds you well, and please feel free to contact me at any time.
Buying Real Estate Property
o owning your own house. While you're excited, however, you also may be a bit overwhelmed by the procedures involved. Relocating or move-up buyers have the advantage of past experience, but still might need a refresher course on the intricacies of the process.The buying process involves several steps, from finding a REALTOR® to making an offer to closing the deal. Whether you're a first-time or experienced buyer, you'll find an array of information in this section that will assist you on your way to realizing your goal of homeownership.
If your family is thinking about purchasing that second home, now may be the perfect time. Prices are still great. If you decide to lease the property until you’re ready to occupy it full time, the rental market in most areas is very strong. And you can still get a great mortgage interest rate.
| Products | Interest Rate | |
|---|---|---|
| 30yr Fixed FHA | 4.250% | |
| 30yr Fixed Conform High Bal | 4.500% | |
| 30yr Fixed Jumbo | 4.125% |
As always, if I can ever help you, your family or friends with any real estate needs, I’d be delighted.
Prices of Real Estate are already rising>>> 1st week of April>>>
• The Dow stock index reached a new record high
• The labor force participation rate rose to a six-month high
• The Treasury will auction $64 billion in securities next week
• The European Central Bank (ECB) made no change in rates
Amir Vahdat
(Realtor -Broker) 949-682-9090
Your local coastal real estate expert & broker
Now that the Super Bowl is over (congratulations to the Seahawks) the real estate market is ready to take off.
Active Inventory -remain on the lower side
https://www.ocluxuryproperty.com/
Already this number is starting to tick up day after day, however this is VERY city specific so while some cities may be seeing a dramatic rise in inventory others are still very low. Overall we expect this number to just climb upwards from this point through the summer.
ORANGE COUNTY REAL ESTATE ACTIVE LISTINGS
The chart below represents single family homes, town homes & condos for all of Orange County.
Sales Prices - continues to hold firm
Prices seem very committed to holding their gains over the past year and we only expect Orange County Real Estate prices to trend upwards going forwards.
ORANGE COUNTY REAL ESTATE MEDIAN SALES PRICE
The chart below represents all single family, town homes, and condos in all of Orange County.
Months of Inventory - rose a bit as expected
This rise is really a seasonal factor, expect to see if start to fall over the next few weeks
The chart below represents all single family, town homes, and condos in all of Orange County.
Volume - feel sharply
Let’s chalk this one up to post holiday hangover and pre Super Bowl preparations. This number ought to climb steadily and impressively over the next few weeks.
ORANGE COUNTY REAL ESTATE VOLUME
https://www.ocluxuryproperty.com/
The chart below represents all single family, town homes, and condos in all of Orange County.
Days to Sell - rises on us yet again
Another seasonal factor, expect to see this number starting to trend down as the weeks go by.
ORANGE COUNTY REAL ESTATE DAYS TO SELL
The chart below represents all single family, town homes, and condos in all of Orange County.
What all this Means to:
Sellers – The slow days are most likely over for Orange County Real Estate sellers. Traditionally our market really starts to take off after the Super Bowl so expect to see rising volume as more and more people house hunt heading into summer. If you’re curious how much your home is worth in this market simply fill out this home valuation request and Win a Tablet, and I will gladly email you your free home value report.
Buyers - Buyers really had a great couple of months but tradition and statistics say that window is closing. If volume rises as expected buyers negotiating strength will erode quickly and price appreciation may price you out of the home of your dreams. So if you have been considering buying it might be best to do it now rather than wait. If you’re thinking about buying feel free to contact me and we can go over what’s going on and what your options are.
Published by: 949hometeam
Amir Vahdat (Realtor – Broker)
It’s
been a strange year for the housing market. Rates on 30-year fixed-rate home
loans started off 2020 at an average 3.72% — but rates steadily plunged amid
the economic chaos caused by the coronavirus and the Federal Reserve’s
decision to kick its key rate to near-zero. At the same time, strong demand
and a severe shortage of properties fueled the nation’s housing market,
causing prices to spike by around 10% year over year. With history offering
no other year quite like this one, it’s tough to say what else 2020 has in
store, though signs point to low rates and strong homebuying.
Here’s a look at what housing industry experts predict for the final quarter
of the year. Traditionally, home sales slow in the fall and winter — but
those rules may not apply this year. A combination of low rates and general
confidence in the housing market “outweighs the seasonal slowdown we
typically see in the fourth quarter of the year,” says Corey Burr, senior
vice president at TTR Sotheby's International Realty. “I expect the market to
stay very active.” The 30-year fixed-rate home loan stood at an average 2.87%
on the eve of the fall season, according to Freddie Mac's weekly survey, and
the Realtors predict rates will end the year just a smidgen higher at 2.9%.
An increase can be blamed in part on a new "adverse market fee" on
refinance loans taking effect this fall. The fee is raising rates by
one-eighth to one-quarter of 1 percentage point (0.125 to 0.25), says Matthew
Graham, chief operating officer of Mortgage News Daily. A few signs point to
rates potentially falling during the fourth quarter of 2020. Fannie Mae
predicts the average rate on 30-year fixed home loans will settle at 2.8% by
year’s end. The central bank is committed to buying up more Treasury bonds
and mortgage-backed securities to support the economy, and those purchases
are helping to drive rates lower. Finally, a resurgence of the coronavirus
during the fourth quarter could pound rates on home loans down. "If the
virus sweeps across the country or if the timing of a vaccine gets pushed
back, this might result in the closing down of cities, regions or all of the country,"
says Burr, of TTR Sotheby's International Realty. 
March 3rd, 2020 at 11:00 am