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Housing Market: Another Gigantic Difference Between 2008 and 2018 |
Some are attempting to compare the current housing market to the market leading up to the “boom and bust” that we experienced a decade ago. They look at price appreciation and conclude that we are on a similar trajectory, speeding toward another housing crisis.

However, there is a major difference between the two markets. Last decade, while demand was being artificially created by extremely loose lending standards, a tremendous amount of inventory was coming to the market to satisfy that demand. Below is a graph of the inventory of homes available for sale leading up to the 2008 crash.

A normal market should have approximately 6 months supply of housing inventory. As we can see, that number jumped to over 11 months supply leading up to the housing crisis. When questionable mortgage practices ceased, and demand dried up, there was a glut of inventory on the market which caused prices to drop as there was too much supply and not enough demand.

Today is radically different!

There are those who believe that low mortgage rates have created an artificial demand in the current market. They fear that if mortgage rates continue to rise, some of the current demand will dry up (which is a possibility). However, if we look at supply again, we can see that the current supply of homes is well below the norm of 6 months.

Bottom Line

We will not have a glut of inventory like we did back in 2008 and home values won’t come tumbling down. Instead, if demand weakens, we will return to a normal market (approximately a 6-month supply) with historic levels of appreciation (3.6% annually). Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Homebuyers Willing to Sacrifice ‘Must-Haves’ in Favor of Good School Districts |
It should come as no surprise that buying a home in a good school district is important to homebuyers. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries.

What is surprising, however, is that 78% of recent homebuyers sacrificed features from their “must-have” lists in order to find homes within their dream school districts.

The top feature sacrificed was a garage at 19%, followed closely by a large backyard, an updated kitchen, the desired number of bedrooms, and an outdoor living area. The full results are shown in the graph above.
Buyers are attracted to schools with high test scores, accelerated academic programs, art and music programs, diversity, and before and after-school programs.

With a limited number of homes available to buy in today’s real estate market, competition is fierce for homes in good school districts. Danielle Hale, Chief Economist for Realtor.com, explained further, “Most buyers understand that they may not be able to find a home that covers every single item on their wish list, but our survey shows that school districts are an area where many buyers aren’t willing to compromise.

For many buyers and not just buyers with children, ‘location, location, location,’ means ‘schools, schools, schools.’” (emphasis added)

Bottom Line

For buyers across the country, the quality of their children’s (or future children’s) education ranks highest on their must-have lists. Before you start the search for your next home, let’s get together to discuss the market conditions in our area. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Have You Outgrown Your Starter Home? |
For many Americans, buying their first home is their first taste of achieving part of the American Dream. There is a sense of pride that comes along with owning your own home and building your family’s wealth through your monthly mortgage payment.

It may seem hard to imagine that the first home you purchased (which made your dreams come true) might not be the home that will allow you to achieve the rest of your dreams. The good news is that it’s ok to admit that your home no longer fits your needs!

According to CoreLogic’s latest Home Price Index, prices in the starter home market have appreciated faster than any other category over the last year, at 9.4%. At the same time, inventory in this category has dropped 14.2%. These two stats are directly related to one another. As inventory has decreased and demand has increased, prices have been driven up.

This is great news if you own a starter home and are looking to move up to a larger home as the equity in your home has risen as prices have gone up. Even better is the fact that there is a large pool of buyers out there searching for your starter home to help them achieve their American Dream!

Bottom Line

If you have outgrown your starter home, contact a local real estate professional who can explain the market conditions in your area and help you find your next home!
Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Are You Thinking of Selling Your Home? Competition Is Coming! |
The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to the latest U.S. Census Bureau and U.S. Department of Housing & Urban Development Residential Sales Report, the number of building permits issued in June was 850,000, a 0.8% increase from May.

How will this impact buyers?

More inventory means more options. Mark Fleming, First American’s Chief Economist, explained that this is good news for the housing market – especially for those looking to buy: “The continued year-over-year growth in completions means more homes on the market in the short-term, offering some immediate relief in alleviating housing supply shortages.” How will this impact sellers?

More inventory means more competition. Today, because of the tremendous lack of inventory, a seller can expect:

A great price on their home as buyers outbid each other for it.
A quick sale as buyers have such little inventory to choose from.
Fewer hassles as buyers don’t want to “rock the boat” on the deal.
Bottom Line

If you are considering selling your house, you’ll want to beat this new competition to market to ensure that you get the most attention on your listing and the best price for your house. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Existing Home Sales Cooling Off This Summer [INFOGRAPHIC] |
Some Highlights:

According to the National Association of Realtors’ latest Existing Home Sales Report, sales in June were down 2.2% from last year.
Inventory of homes for sale showed a modest improvement of 0.5% over last year’s figures, but still remains under the 6-month supply needed for a normal market.
NAR’s Chief Economist Lawrence Yun had this to say: “There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining. The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market.” Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Supply & Demand Will Determine Future Home Values |
Will home values continue to appreciate throughout 2018? The answer is simple: YES! – as long as there are more purchasers in the market than there are available homes for them to buy. This is known as the theory of “supply and demand,” which is defined as: “The amount of a commodity, product, or service available and the desire of buyers for it, considered as factors regulating its price.” When demand exceeds supply, prices go up. Every month this year, demand (buyer traffic) has increased as compared to last year and for the first five months of 2018, supply (the number of available listings) had decreased as compared to last year. However, a recent report by the National Association of Realtors (NAR) revealed the first year-over-year increase in supply in three years.

Here are the numbers for supply and demand as compared to last year since the beginning of 2018:

The increase in the June numbers doesn’t mean that prices won’t continue to appreciate. In that same report, Lawrence Yun, NAR’s Chief Economist, explained: “It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels.

Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.” Bottom Line

The reason home prices are still rising is that there are many purchasers looking to buy but very few homeowners ready to sell. This imbalance is the reason prices will remain on the uptick. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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The Wave of Millennial Homebuyers Continues to Swell | MyKCM
Many have written about the millennial generation and whether or not they, as a whole, believe in homeownership as a part of attaining their American Dream.

Comparatively speaking, millennials have taken longer to obtain traditional milestones (like getting married, having kids and buying a home) than generations before them, but that does not mean that they do not aspire to still achieve those things.

For older millennials (aged 25-34) who have established themselves in their career and are starting to build their families, homeownership is the next logical choice.

According to the Urban Institute’s State of Millennial Housing, the probability of a millennial becoming a homeowner increases by 17.9% if they are married, and by an additional 6.2% if they have children.

Last year, according to the US Census Bureau, the average age at first marriage was 30 for men and 27 for women, while the National Association of Realtors (NAR) reports that the average first-time homebuyer was 32 years old.

With most of this generation having yet to age into the ‘Responsibility Zone’ (the time in their lives when their responsibilities start to dictate their behaviors), there will be a steady wave of buyers for years to come!

Those who are currently out in the market searching for a home are being met with a strong, highly competitive seller’s market. NAR’s Chief Economist Lawrence Yun recently commented, “Realtors®️ throughout the country continue to stress that there’s considerable pent-up demand for buying a home among the millennial households in their market.

Unfortunately, they’re just not making meaningful ground, and continue to be held back by too few choices in their price range, and thereby missing out on homeownership and wealth gains.” Bottom Line

If you are currently renting and thinking about jumping into the real estate market this year, let’s get together to help you navigate our market. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana


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Next Recession in 2020? What Will Be the Impact? |
Economists and analysts know that the country has experienced economic growth for almost a decade. They also know that a recession can’t be too far off. A recent report by Zillow Research shed light on a survey conducted by Pulsenomics in which they asked economists, investment strategists and market analysts how they felt about the current housing market. That report revealed the possible timing of the next recession: “Experts largely expect the next recession to begin in 2020.” That timing concurs with a recent survey of economists by the Wall Street Journal: “The economic expansion that began in mid-2009 and already ranks as the second-longest in American history most likely will end in 2020 as the Federal Reserve raises interest rates to cool off an overheating economy, according to forecasters surveyed.” Here is a graph comparing the opinions of those surveyed by both the Wall Street Journal and Pulsenomics:

Recession DOES NOT Equal Housing Crisis

According to the Merriam-Webster Dictionary, a recession is defined as follows: “A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.” A recession means the economy has slowed down markedly. It does not mean we are experiencing another housing crisis. Obviously, the housing crash of 2008 caused the last recession. However, during the previous five recessions home values appreciated.

According to the experts surveyed by Pulsenomics, the top three probable triggers for the next recession are:

Monetary policy
Trade policy
A stock market correction
A housing market correction was ranked ninth in probability. Those same experts also projected that home values would continue to appreciate in 2019, 2020, 2021 and 2022.
Others agree that housing will not be impacted like it was a decade ago.

Mark Fleming, First American’s Chief Economist, explained: “If a recession is to occur, it is unlikely to be caused by housing-related activity, and therefore the housing sector should be one of the leading sources to come out of the recession.”
Andres,Lic#1343492


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Millionaire to Millennials: Owning Your Home Can Help You Retire Sooner! |
In a CNBC article, self-made millionaire David Bach explained that: “Buying a home is the escalator to wealth in America. Homeownership can also help you retire early, that is, if you pay your mortgage off.” Bach suggests that homebuyers should, “Take out a 30-year mortgage, but with the intention of paying it off in 25, 20 or ideally, 15 years.” How does he suggest you do this? Here’s the secret: “…If you were paying $1,000 a month, now you’re going to make $1,100 payments every month. Inform the bank that you are doing this and that you want the extra $100 a month to be applied to the principal (not the interest).” What will happen to your mortgage?

Bach explains that, “If you keep this up, you’ll wind up paying off your 30-year mortgage in about 25 years. Increase your monthly payment by 20 percent, and you’ll have that mortgage retired in about 22 years.” Bottom Line

Whenever a well-respected millionaire gives investment advice, people usually clamor to hear it. This millionaire gave simple advice – buy a home and pay off your mortgage early so that you can retire sooner with the money you will have saved!

Who is David Bach?

Bach is a self-made millionaire who has written nine consecutive New York Times bestsellers. His book, “The Automatic Millionaire,” spent 31 weeks on the New York Times bestseller list. He is one of the only business authors in history to have four books simultaneously on the New York Times, Wall Street Journal, BusinessWeek and USA Today bestseller lists.

He has been a contributor to NBC’s Today Show, appearing more than 100 times, as well as a regular on ABC, CBS, Fox, CNBC, CNN, Yahoo, The View, and PBS. He has also been profiled in many major publications, including the New York Times, BusinessWeek, USA Today, People, Reader’s Digest, Time, Financial Times, Washington Post, the Wall Street Journal, Working Woman, Glamour, Family Circle, Redbook, Huffington Post, Business Insider, Investors’ Business Daily, and Forbes.

Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values


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Buying This Summer? Be Prepared for Bidding Wars |
Summer is traditionally a busy season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on those buyers who are looking to purchase before the new school year. This year will be no different!

Buyers have already been out in force looking for their dream homes and more are on their way. The challenge is that the inventory of homes for sale has not kept up with demand, which has led to A LOT of competition for the homes that are available.

A recent article by the National Association of Realtors touched on the current market conditions: “Realtors®️ in areas with strong job markets report that consumer frustration is rising. Home shoppers are increasingly struggling to find an affordable property to buy, and the prevalence of multiple bids is pushing prices further out of reach.” Realtor.com went on to explain why buyers are flocking to the market in such big numbers: “A booming economy and stable employment in most parts of the country have created a new generation of eager home buyers – and led to fevered price battles spilling over into some unexpected, smaller markets.” Javier Vivas, Director of Economic Research for Realtor.com had this to say about competition: “Multiple-offer scenarios are no longer reserved to the usual big, fast-moving markets…demand for homes has spilled outward into secondary, smaller markets, and more buyers are gearing up to face fierce competition in more places around the country.” Realtor.com looked at the number of homes that were selling above asking price to determine which markets were heating up. Below are the Top 10:

Akron, OH
Worcester, MA
Lexington, KY
Irvine, CA
Greensboro, NC
Sioux Falls, SD
Madison, WI
Louisville, KY
Tacoma, WA
Little Rock, AR
Bottom Line

Let’s get together to discuss our exact market conditions so that we can help you create a strategy to secure your new home in this competitive atmosphere!


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Home Buying Myths Slayed [INFOGRAPHIC] | MyKCM
Some Highlights:

The average down payment for first-time homebuyers is only 6%!
Despite mortgage interest rates being over 4%, rates are still below historic numbers.
88% of property managers raised their rents in the last 12 months! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Homes More Affordable Today than 1985-2000 |
Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it.

Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 was almost double that number, at 8.92%. When comparing affordability of homeownership over the decades, we must also realize that incomes have increased.

This is why most indexes use the percentage of median income required to make monthly mortgage payments on a typical home as the point of comparison.

Zillow recently released a report comparing home affordability over the decades using this formula. The report revealed that, though homes are less affordable this year than last year, they are more affordable today (17.1%) than they were between 1985-2000 (21%). Additionally, homes are more affordable now than at the peak of the housing bubble in 2006 (25.4%). Here is a chart of these findings:

What will happen when mortgage interest rates rise?

Most experts think that the mortgage interest rate will increase to about 5% by year’s end. How will that impact affordability? Zillow also covered this in their report:

Rates would need to approach 6% before homes became less affordable than they had been historically.

Bottom Line

Though homes are less affordable today than they were last year, they are still a great purchase while interest rates are below the 6% mark.
Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Are Lending Standards Propping Up Home Prices? |
Back in 2005, Federal Reserve Chairman Alan Greenspan described the dramatic increases in residential real estate values as a “froth in housing markets.” Greenspan went on to say: “The increase in the prevalence of interest-only loans and the introduction of more-exotic forms of adjustable-rate mortgages are developments of particular concern…some households may be employing these instruments to purchase homes that would otherwise be unaffordable, and consequently their use could be adding to pressures in the housing market.” Greenspan was warning that the loosening of lending standards could lead to disaster. And it did.

With home prices again appreciating at percentages well above historic norms, many are wondering whether the market is again becoming “frothy.” Mortgage standards are much stricter now, however, than they were in 2005.

The Urban Institute’s Housing Finance Policy Center issues a monthly index which measures the percentage of home purchase loans that are likely to default. A lower score indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards. A higher score indicates that lenders are willing to tolerate defaults and are taking more risks.

Their July Housing Credit Availability Index revealed credit availability rose to 5.9%. For context, they went on to explain: “Significant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003 for the whole mortgage market.” Here is a graph depicting the Urban Institute’s findings:

Bottom Line

Though it may be slightly easier to get a mortgage today than it was a year ago, lending standards are nowhere near where they were during the build-up to the housing bubble.
Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma


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Part 2) In 2016, when buying was 41.3% less expensive than renting, the average mortgage rate was the driving force behind the difference. Rates this year are the highest they have been in six years which has narrowed the gap, all while home price appreciation has also been driven up by a lack of homes for sale.

Cheryl Young, Trulia’s Chief Economist, had this to say, “One point deserves emphasizing: The ultra-costly San Francisco Bay Area is not a harbinger for the nation as a whole. While renting may outweigh buying in San Jose and San Francisco, it is unlikely that renting will tip the scales nationally anytime soon.” Bottom Line

Homeownership provides many benefits beyond the financial ones. If you are one of the many renters out there who would like to evaluate your ability to buy this year, let’s get together to find your dream home.

Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Buying Is Now 26.3% Cheaper Than Renting in the US |
The results of the latest Rent vs. Buy Report from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States.

In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas.

It’s no surprise, however, that those two metros are San Jose and San Francisco, CA, where median home prices have jumped to over $1 million dollars this year. Home values in San Jose have risen 29% in the last year, while rents have remained relatively unchanged.

For the 98 metros where homeownership wins out, 97 of them show a double-digit advantage when buying. The range is an average of 2.0% less expensive in Honolulu (HI), all the way up to 48.9% in Detroit (MI), and 26.3% nationwide!

Below is a map of the 100 metros that were studied. The darker the blue dot on the metro, the cheaper it is to buy there.

In order to calculate the true cost of renting vs. buying, Trulia includes all assumed renting costs, including one-time costs (like security deposits), and compares them to the monthly costs of owning a home (insurance, mortgage payments, taxes, and maintenance) including one-time costs (down payments, closing costs, sale proceeds). They also assume that households stay in their home for seven years, put down a 20% down payment, and take out a 30-year fixed rate mortgage. The full methodology is included with the study results here.

Below is a chart created with the data from the last six years of the study, showing the impact of the median home price, rental price, and 30-year fixed rate interest rate used to calculate the ‘cheaper to buy’ metric.

Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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You Need an Agent Who Will Always Put You First |
Whether you are a rookie homebuyer or have gone through the process many times, having a local real estate expert who is well versed in the neighborhood you are looking to move to, as well as the trends of that area, should be your goal while home shopping.

One great example of an agent who is in your corner and is always looking out for your best interests is one of the main characters on ABC’s Modern Family, Phil Dunphy.

For those who aren’t familiar with the character, Phil is a REALTOR®️ with a huge heart who always strives to do his best for his family and his clients.

In one episode, he even shared an oath that he created and holds himself accountable to: “On my honor, I promise to aid in man’s quest for shelter, to recognize I’m not just in the business of houses — I’m in the business of dreams in the shape of houses. To disclose all illegal additions, shoddy construction, murders, and ghosts. And to put my clients’ needs before my own.” While this might seem silly, as it was definitely written with humor in mind, the themes of helping someone achieve the American Dream and putting a client’s needs above his own are not to be taken lightly.

Bottom Line

When you make the decision to enter the housing market, as either a buyer or a seller, make sure you look for an agent who exemplifies these values and will help you through every step of the process. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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The #1 Reason to List Your House for Sale NOW! |
If you are debating whether or not to list your house for sale this year, here is the #1 reason not to wait!

Buyer Demand Continues to Outpace the Supply of Homes for Sale

The National Association of Realtors’ (NAR) Chief Economist Lawrence Yun recently commented on the current lack of inventory: “Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.
That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.” The latest Existing Home Sales Report shows that there is currently a 4.1-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market, and 6.1% lower than last year’s inventory level.

The chart below details the year-over-year inventory shortages experienced over the last 12 months:

Anything less than a six-month supply is considered a “seller’s market.” Bottom Line

Let’s get together to discuss the supply conditions in our neighborhood so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates


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I love technology, it allows me to work with clients over long distances and provide spectacular service. Closing deals. #technology #love #working #with #clients #over #video #conferencing Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood


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The #1 Reason to Put Your House on The Market TODAY! |
The National Association of Realtors (NAR) released the results of their latest Existing Home Sales Report which revealed that home sales declined 0.6% to a seasonally adjusted annual rate of 5.38 million in June from 5.41 million in May, and are 2.2% below a year ago. Some may look at these numbers and think that now is a bad time to sell their house, but in fact, the opposite is true.

The national slowdown in sales is directly tied to a lack of inventory available for the buyers who are out in the market looking for their dream homes! In fact, the inventory of homes for sale had fallen year-over-year for 36 consecutive months before posting a modest 0.5% gain last month and has had an upward impact on home prices.

NAR’s Chief Economist Lawrence Yun had this to say, “It’s important to note that despite the modest year-over-year rise in inventory, the current level is far from what’s needed to satisfy demand levels. Furthermore, it remains to be seen if this modest increase will stick, given the fact that the robust economy is bringing more interested buyers into the market, and new home construction is failing to keep up.” The few houses that are on the market are selling fast! According to NAR’s Realtors Confidence Index, properties were typically on the market for 26 days.

Bottom Line

If you are one of the many homeowners who is debating listing your house for sale this year, the time is now! Let’s get together to discuss the specifics of our market! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates


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Americans Rank Real Estate Best Investment for 5 Years Running! [INFOGRAPHIC] |
Some Highlights:

Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 5 years!
The generations agree! Real estate is the best investment!
Generation X leads the way with 37% believing in real estate as the top investment. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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Part 2) 3. FORECLOSURE RATES

A major cause of the housing crash last decade was the number of foreclosures that hit the market. They not only increased the supply of homes for sale but were also being sold at 20-50% discounts. Foreclosures helped drive down all home values.

Today, foreclosure numbers are lower than they were before the housing boom. Here are the number of consumers with new foreclosures according to the Federal Reserve’s most recent Household Debt and Credit Report:

2003: 203,320 (earliest reported numbers)
2009: 566,180 (at the valley of the crash)
Today: 76,480
Foreclosures today are less than 40% of what they were in 2003.

4. HOUSING AFFORDABILITY

Contrary to many headlines, home affordability is better now than it was prior to the last housing boom. In the same article referenced in #1, CoreLogic revealed that in the vast majority of markets, “the inflation-adjusted, principal-and-interest mortgage payments that homebuyers have committed to this year remain much lower than their pre-crisis peaks.” They went on to explain: “The main reason the typical mortgage payment remains well below record levels in most of the country is that the average mortgage rate back in June 2006, when the U.S. typical mortgage payment peaked, was about 6.7 percent, compared with an average mortgage rate of about 4.4 percent in March 2018.” The “price” of a home may be higher, but the “cost” is still below historic norms.

Bottom Line

After using these four key housing metrics to compare today to last decade, we can see that the current market is not anything like that bubble market.


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4 Reasons Why We Are Not Heading Toward Another Housing Bubble |
With home prices continuing to appreciate above historic levels, some are concerned that we may be heading for another housing ‘boom & bust.’ It is important to remember, however, that today’s market is quite different than the bubble market of twelve years ago.

Here are four key metrics that will explain why:

Home Prices
Mortgage Standards
Foreclosure Rates
Housing Affordability
1. HOME PRICES

There is no doubt that home prices have reached 2006 levels in many markets across the country. However, after more than a decade, home prices should be much higher based on inflation alone.

Last week, CoreLogic reported that, “The inflation-adjusted U.S. median sale price in June 2006 was $247,110 (or $199,899 in 2006 dollars), compared with $213,400 in March 2018.” (This is the latest data available.) 2. MORTGAGE STANDARDS

Many are concerned that lending institutions are again easing standards to a level that helped create the last housing bubble. However, there is proof that today’s standards are nowhere near as lenient as they were leading up to the crash.

The Urban Institute’s Housing Finance Policy Center issues a monthly index which, “…measures the percentage of home purchase loans that are likely to default—that is, go unpaid for more than 90 days past their due date. A lower HCAI indicates that lenders are unwilling to tolerate defaults and are imposing tighter lending standards, making it harder to get a loan. A higher HCAI indicates that lenders are willing to tolerate defaults and are taking more risks, making it easier to get a loan.” Their July Housing Credit Availability Index revealed: “Significant space remains to safely expand the credit box. If the current default risk was doubled across all channels, risk would still be well within the pre-crisis standard of 12.5 percent from 2001 to 2003 for the whole mortgage market.” Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton


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Part 2) As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind in knowing that you do not have to do the maintenance work yourself?

4. Security “Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.” As scary as that thought may be, any additional security and an extra set of eyes looking out for you always adds to peace of mind.

5. Pets “Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.” Evaluate all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or moving in to a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?

6. Mobility “No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.” Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Having to install handrails and make sure that your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.

7. Convenience “Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!” How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.

Bottom Line

When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement. If after considering all these factors you find yourself curious about your options, let’s get together to evaluate your ability to sell your house in today’s market and get you into your dream retirement home!


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Will Your Current House Fit Your Needs in Retirement? |
As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.

According to the National Association of Exclusive Buyers Agents (NAEBA), there are 7 factors that you should consider when choosing your retirement home.1

1. Affordability “It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.” Would moving to a complex with homeowner association (HOA) fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?

2. Equity “If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.” The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $16,300 in equity last year.

3. Maintenance “As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.” Next post!!!! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood #housingmarket #homesales #rates #millenials


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How Long Do Most Families Live in a House? |
The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of their data points, which has changed dramatically, is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving.
As the graph below shows, over the last twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2014, that average is almost ten years – an increase of almost 50%.
Why the dramatic increase?
The reasons for this change are plentiful!
The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners much more fiscally conservative about making a move.
With home prices rising dramatically over the last several years, 95.3% of homes with a mortgage are now in a positive equity situation, according to CoreLogic.
With the economy coming back and wages starting to increase, many homeowners are in a much better financial situation than they were just a few short years ago.
One other reason for the increase was brought to light by NAR in their 2018 Home Buyer and Seller Generational Trends Report. According to the report,
“Sellers 37 years and younger stayed in their home for six years…”
These homeowners, who are either looking for more space to accommodate their growing families or for better school districts to do the same, are likely to move more often (compared to typical sellers who stayed in their homes for 10 years). The homeownership rate among young families, however, has still not caught up to previous generations, resulting in the jump we have seen in median tenure!
What does this mean for housing?
Many believe that a large portion of homeowners are not in a house that is best for their current family circumstance; they could be baby boomers living in an empty, four-bedroom colonial, or a millennial couple living in a one-bedroom condo planning to start a family.
These homeowners are ready to make a move, and since a lack of housing inventory is still a major challenge


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Selling Your Home? Here’s 2 Ways to Get the Best Price! | Every homeowner wants to make sure that they maximize their financial reward when selling their home, but how do you guarantee that you receive the maximum value for your house?
Here are two ways to ensure that you get the highest price possible.
1. Price it a Little Low
This may seem counterintuitive, but let’s take a look at this concept for a moment. Many homeowners think that pricing their homes a little OVER market value will leave them with room for negotiation when, in actuality, it just dramatically lessens the demand for their houses (see chart below). Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their house so that demand for the home is maximized. By doing so, the seller will not be fighting with a buyer over the price but will instead have multiple buyers fighting with each other over the house.
Realtor.com gives this advice: “Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.” 2. Use a Real Estate Professional
This, too, may seem counterintuitive as the seller may think that he or she will make more money by avoiding a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by real estate professionals.
A study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent. The data showed that: “FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” The results of the study showed that the differential in selling prices for FSBOs, when compared to MLS sales of similar properties, is about 5.5%. Sales in 2017 suggest the average sales price was near 6% lower for FSBO sales of similar properties.
Bottom Line
Price you house at or slightly below the current market value and hire a professional.


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Cost of Waiting

With home prices and interest rates continuing to rise, it is crucially important to make sure that your buyers and sellers understand the true cost of waiting until next year to buy their homes. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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Lack of Listings Slowing Down the Market | MyKCM
As the real estate market continues to move down the road to a complete recovery, we see home values and home sales increasing while distressed sales (foreclosures and short sales) continue to fall to their lowest points in years. There is no doubt that the housing market will continue to strengthen throughout 2018.

However, there is one thing that may cause the industry to tap the brakes: a lack of housing inventory!

Here’s what a few industry experts have to say about the current inventory crisis:

Lawrence Yun, Chief Economist for the National Association of Realtors “Inventory coming onto the market during this year’s spring buying season…was not even close to being enough to satisfy demand, that is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.” Sam Khater, Chief Economist for Freddie Mac “While this spring’s sudden rise in mortgage rates [took] up a good chunk of the conversation, it’s the stubbornly low inventory levels in much of the country that are preventing sales from really taking off like they should… Most markets simply need a lot more new and existing supply to cool price growth and give buyers enough choices.” Alexandra Lee, Housing Data Analyst for Trulia “This seasonal inventory jump wasn’t enough to offset the historical year-over-year downward trend that has continued over 14 consecutive quarters…Despite the second-quarter gain, inventory was down 5.3% from a year ago. Still, this represents an easing of the double-digit drops we’ve been seeing since the second quarter of 2017.” Bottom Line

If you are thinking about selling, now may be the time. Demand for your house will be strongest while there is still very little competition which could lead to a quick sale for a great price. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma


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Thinking of Selling? Act Now!
July 23rd, 2018

Buyer demand continues to outpace the supply of homes for sale across the country and it does not appear to be slowing down. If you are debating whether or not to list your house for sale this year, let’s get together to discuss the supply conditions in our neighborhood so that I can assist you in gaining access to the buyers who are ready, willing, and able to buy right now! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #educationalvideos


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What You Need to Know About the Mortgage Process [INFOGRAPHIC] |
Some Highlights:

Many buyers are purchasing a home with a down payment as little as 3%.
You may already qualify for a loan, even if you don’t have perfect credit.
Take advantage of the knowledge of your local professionals who are there to help you determine how much you can afford. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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Housing Will Not Fall Victim to Next Economic Storm | MyKCM
Some experts are calling for a slowdown in the economy later this year and most economists have predicted that the next recession could only be eighteen months away. The question is, what impact will a recession have on the housing market?

Here are the opinions of several experts on the subject:

Ivy Zelman in her latest “Z Report”: “While economic activity appears to have accelerated so far in 2018, some prominent economic forecasters have become more cautious about growth prospects for 2019 and 2020…

All told, while solid long-term demographic underpinnings support our positive fundamental outlook for housing, in the event micro-economic headwinds surface, we would expect housing transaction volumes and home prices to weather the storm.” Aaron Terrazas, Zillow’s Senior Economist: “While much remains unknown about the precise path of the U.S. economy in the years ahead, another housing market crisis is unlikely to be a central protagonist in the next nationwide downturn.” Mark Fleming, First American’s Chief Economist: “If a recession is to occur, it is unlikely to be caused by housing-related activity, and therefore the housing sector should be one of the leading sources to come out of the recession.” Mark J. Hulbert, Financial Analyst and Journalist: “Real estate may be one of your best investments during the next bear market for stocks. And by real estate, I mean your home or other residential properties.” U.S. News and World Report: “Fortunately – and hopefully – the history of recessions and current issues that could harm the economy don’t lead many to believe the housing market crash will repeat itself in an upcoming decline.” Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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Demand for Homes to Buy Continues to Climb |
Across the United States, there is a severe mismatch between the low number of houses for sale and the high demand for those houses! First-time homebuyers are out in force and are being met with a highly competitive summer real estate market.

According to the National Association of Realtors (NAR), the inventory of homes for sale “has fallen year-over-year for 36 consecutive months,” and now stands at a 4.1-month supply. A 6-month supply of inventory is necessary for a balanced market and has not been seen since August of 2012.

NAR’s Chief Economist Lawrence Yun had this to say, “Inventory coming onto the market during this year’s spring buying season – as evidenced again by last month’s weak reading – was not even close to being enough to satisfy demand.

That is why home prices keep outpacing incomes and listings are going under contract in less than a month – and much faster – in many parts of the country.” Is There Any Relief Coming?

According to the CoreLogic’s 2018 Consumer Housing Sentiment Study, four times as many renters are considering buying homes in the next 12 months than homeowners who are planning to sell, “which is the crux of the available housing-supply imbalance.” As more and more renters realize the benefits of homeownership, the demand for housing will continue to rise.

Do homeowners realize demand is so high? With home prices rising across the country, homeowners gained over a trillion dollars in equity over the last 12 months, with the average homeowner gaining over $16,000!

The map below shows the breakdown by state:

Many homeowners who have not thought about listing their homes may not even realize how much equity they have gained, or the opportunity available to them in today’s market!

Bottom Line

If you are one of the many homeowners across the country who hasn’t quite found their forever home, now may be a great time to list your house for sale and find your dream home! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana


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4 REAL Reasons Why We Buy A Home! | MyKCM
We often talk about why it makes financial sense to buy a home, but more often than not, the emotional reasons are the more powerful or compelling ones.

No matter what shape or size your living space is, the concept and feeling of home can mean different things to different people. Whether it’s a certain scent or a favorite chair, the emotional reasons why we choose to buy our own homes are typically more important to us than the financial ones.

1. Owning your home offers you the stability to start and raise a family

Between the best neighborhoods and the best school districts, even buyers without children at the time of purchase may have these things in mind as major reasons for choosing the locations of the homes that they purchase.

2. There’s no place like home

Owning your own home offers you not only safety and security, but also a comfortable place that allows you to relax after a long day!

3. You have more space for you and your family

Whether your family is expanding, an older family member is moving in, or you need to have a large backyard for your pets, you can take this all into consideration when buying your dream home!

4. You have control over renovations, updates, and style

Looking to actually try one of those complicated wall treatments that you saw on Pinterest? Tired of paying an additional pet deposit in your apartment building? Or maybe you want to finally adopt that puppy or kitten you’ve seen online 100 times? Who’s to say that you can’t do just that in your own home?

Bottom Line

Whether you are a first-time homebuyer or a move-up buyer who wants to start a new chapter in your life, now is a great time to reflect on the intangible factors that make a house a home. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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First-Time Home Buyers Continue to Put Down Less Than 6%! | MyKCM
According to the Realtors Confidence Index from the National Association of Realtors, 61% of first-time homebuyers purchased their homes with down payments below 6% in 2017.

Many potential homebuyers believe that a 20% down payment is necessary to buy a home and have disqualified themselves without even trying, but in March, 71% of first-time buyers and 54% of all buyers put less than 20% down.

Ralph McLaughlin, Chief Economist and Founder of Veritas Urbis Economics, recently shed light on why buyer demand has remained strong, “The fact that we now have four consecutive quarters where owner households increased while renters households fell is a strong sign households are making the switch from renting to buying.

Households under 35 – which represent the largest potential pool of new homeowners in the U.S. – have shown some of the largest gains. While they only make up a third of all homebuyers, the steady uptick in their homeownership rate over the past year suggests their enormous purchasing power may be finally coming to [the] housing market.” It’s no surprise that with rents rising, more and more first-time buyers are taking advantage of low-down-payment mortgage options to secure their monthly housing costs and finally attain their dream homes.

Bottom Line

If you are one of the many first-time buyers unsure of whether or not they would qualify for a low-down payment mortgage, let’s get together and set you on your path to homeownership! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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Want to Sell Your House Faster? Don’t Forget to Stage! [INFOGRAPHIC] |
Some Highlights:

The National Association of Realtors surveyed their members & released the findings of their Profile of Home Staging.
62% of seller’s agents say that staging a home decreases the amount of time a home spends on the market.
50% of staged homes saw a 1-10% increase in dollar-value offers from buyers.
77% of buyer’s agents said staging made it easier for buyers to visualize the home as their own.
The top rooms to stage in order to attract more buyers are the living room, master bedroom, kitchen, and dining room. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #sell


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You don’t need 20% to purchase a home. In today’s market you can purchase a home worth as little 0-3.5% down payment. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #video #educationalvideos #educationalvideo


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Rising Interest Rates Have Not Dampened Demand |
Since the beginning of the year, mortgage interest rates have risen over a half of a percentage point (from 3.95% to 4.52%), according to Freddie Mac. Even a small rise in interest rates can greatly impact a buyer’s monthly mortgage payment.

First American recently released the results of their quarterly Real Estate Sentiment Index (RESI), in which they surveyed title and real estate agents across the country about the impact of rising rates on first-time homebuyers.

Real estate professionals around the country have not noticed a slowdown in demand for housing among young buyers; nearly 93% of all first-time homebuyers last quarter were between the ages of 21-35, with the largest share of buyers (51%) coming from those ages 26-30.

First American’s Chief Economist Mark Fleming had this to say, “On a national level, mortgage rates would need to hit 5.6%, 1 percentage point above the current rate, before first-time homebuyers withdraw from the market.” So, what is slowing down sales?

According to the last Existing Home Sales Report from the National Association of Realtors, sales are now down 3.0% year-over-year and have fallen for the last three months. If rising interest rates aren’t to blame, then what is?

Fleming addressed the cause, saying that: “The housing market is facing its greatest supply shortage in 60 years of record keeping, according to the Federal Reserve Bank of Kansas City. The ongoing housing supply shortage will make it difficult for first-time buyers to find a home to buy, even when they are financially ready.” Bottom Line

First-time homebuyers know the importance of owning their own homes and a spike in interest rates is not going to keep them from buying this year! Their biggest challenge is finding a home to buy! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


1

House-Buying Power at Near-Historic Levels |
We keep hearing that home affordability is approaching crisis levels. While this may be true in a few metros across the country, housing affordability is not a challenge in the clear majority of the country. In their most recent Real House Price Index, First American reported that consumer “house-buying power” is at “near-historic levels.” Their index is based on three components:

Median Household Income
Mortgage Interest Rates
Home Prices
The report explains: “Changing incomes and interest rates either increase or decrease consumer house-buying power or affordability. When incomes rise and/or mortgage rates fall, consumer house-buying power increases.” Combining these three crucial pieces of the home purchasing process, First American created an index delineating the actual home-buying power that consumers have had dating back to 1991.

Here is a graph comparing First American’s consumer house-buying power (blue area) to the actual median home price that year from the National Association of Realtors (yellow line). Consumer house-buyer power has been greater than the actual price of a home since 1991. And, the spread is larger over the last decade.

Bottom Line

Even though home prices are increasing rapidly and are now close to the values last seen a decade ago, the actual affordability of a home is much better now. As Chief Economist Mark Fleming explains in the report: “Though unadjusted house prices have risen to record highs, consumer house-buying power stands at near-historic levels, as well, signaling that real house prices are not even close to their historical peak.” Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


0

Cost Across Time [INFOGRAPHIC] |
Some Highlights:

With interest rates still around 4.5%, now is a great time to look back at where rates have been over the last 40 years.
Rates are projected to climb to 5.1% by this time next year according to Freddie Mac.
The impact your interest rate makes on your monthly mortgage cost is significant!
Lock in a low rate now while you can!
Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


2

VA Loans: Making a Home for the Brave Possible |
Since the creation of the Veterans Affairs (VA) Home Loans Program, over 22 million veterans have achieved the American Dream of homeownership. Many veterans do not know the details of the program and therefore do not take advantage of the benefits available to them.

If you are a veteran or you know someone who is, here is a breakdown of the VA Home Loan benefits that can be used to achieve the American Dream!

Top 5 Benefits of a VA Home Loan

The greatest benefit of a VA Loan is that borrowers can buy a home with a 0% down payment. In 2016, 82% of all VA Loans put down 0%!
Primary Mortgage Insurance (PMI) is not required! (Most other loans with down payments under 20% require PMI, which adds additional costs to your monthly housing expense!)
Credit Score requirements are also lower for VA Home Loans. The average FICO®️ score of a borrower for an approved VA Loan is 620, compared to 676 (FHA) or 753 (Conventional).
There is also a limitation on a veteran buyer’s closing costs. Sellers can pay all of a buyer’s loan-related closing costs and up to 4% in concessions in some cases.
Even with interest rates rising, VA Loans continue to have the lowest average interest rates of all loan types.
Who Qualifies for a VA Home Loan?

One of the most important first steps when applying for a VA Home Loan is obtaining your Certificate of Eligibility (COE). “The COE verifies to the lender that you are eligible for a VA-backed loan.” You Can Apply for a VA Loan if You:

Serve 90 consecutive days during wartime
Serve 181 consecutive days during peacetime
Have more than 6 years in the National Guard or Reserves
Are the spouse of a service member who has died in the line of duty or as the result of a service-related disability
You Can Use a VA Loan To:

Purchase a Home
Purchase a Condo
Build a Home
Refinance an existing home loan
Make improvements to a home by installing energy-related features or making energy-efficient improvements
Bottom Line

For more information or to find out if you or a loved one would qualify to use the VA Home Loan Benefit, let’s get together! Thank you for your service! Andres, CA Lic#1343492


2

Why Should You Use A Professional to Sell Your Home? |
When homeowners decide to sell their houses, they obviously want to get the best possible price for their home with the least amount of hassles along the way. However, for the vast majority of sellers, the most important result is actually getting their homes sold.

In order to accomplish all three goals, a seller should realize the importance of using a real estate professional. We realize that technology has changed a buyer’s behavior during the home buying process. According to the National Association of Realtors’ 2018 Home Buyer & Seller Generational Trends Report, the first step that “42% of recent buyers took in the home buying process was to look online at properties for sale.” However, the report also revealed that 94% of buyers who used the internet when searching for homes ultimately purchased their homes through either a real estate agent/broker or from a builder or builder’s agent. Only 2% of buyers purchased their homes directly from a seller whom they didn’t know.

Buyers search for a home online but then depend on an agent to find the home they will buy (52%), to negotiate the terms of the sale (47%) & price (38%), or to help understand the process (60%). The plethora of information now available has resulted in an increase in the percentage of buyers who reach out to real estate professionals to “connect the dots.” This is obvious, as the percentage of overall buyers who have used agents to buy their homes has steadily increased from 69% in 2001.

Bottom Line

If you are thinking of selling your home, don’t underestimate the role a real estate professional can play in the process.. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #education #millenials


0

When Is a Good Time to Rent? Not Now! |
People often ask if now is a good time to buy a home, but nobody ever asks whether or not it’s a good time to rent. Regardless, we want to make certain that everyone understands that now is NOT a good time to rent.

The Census Bureau recently released their 2018 first quarter median rent numbers. According to their report, here is a graph showing rent increases from 1988 until today:

As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.

Bottom Line

One way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, let’s meet to determine if you are able to today! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


1

Days on The Market Drops to New Low in April |
According to recently released data from the National Association of Realtors (NAR), the median number of days that a home spent on the market hit a new low of 26 days in April, as 57% of homes were on the market for under a month.

NAR’s Chief Economist, Lawrence Yun, had this to say, “What is available for sale is going under contract at a rapid pace. Since NAR began tracking this data in May 2011, the median days a listing was on the market was at an all-time low in April, and the share of homes sold in less than a month was at an all-time high.” Strong buyer demand, a good economy, and a low inventory of new and existing homes for sale created the perfect storm to accelerate the time between listing and signing a contract.

The chart below shows the median days on the market from April 2017 to April 2018:

Bottom Line

If you are a homeowner who is debating whether or not to list your home for sale, know that national market conditions are primed for a quick turnaround! Let’s get together to discuss exactly what’s going on in our area, today! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


4

The Cost of Renting vs. Buying [INFOGRAPHIC] |
Some Highlights:

Historically, the choice between renting or buying a home has been a tough decision.
Looking at the percentage of income needed to rent a median-priced home today (28.8%) vs. the percentage needed to buy a median-priced home (17.1%), the choice becomes obvious.
Every market is different. Before you renew your lease again, find out if you can put your housing costs to work by buying this year! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials #


0

Did Tax Reform Kill the Luxury Market? NOT SO FAR! |
The new tax code limits the deduction of state and local property taxes, as well as income or sales taxes, to a total of $10,000. When the tax reform legislation was put into law at the beginning of the year, some experts felt that it could have a negative impact on the luxury housing market.

Capital Economics: “The impact on expensive homes could be detrimental, with a limit on the MID raising taxes for those that itemize.” Mark Zandi of Moody’s Analytics: “The impact on house prices is much greater for higher-priced homes, especially in parts of the country where incomes are higher and there are thus a disproportionate number of itemizers, and where homeowners have big mortgages and property tax bills.” The National Association of Realtors (NAR) predicted price declines in “high cost, higher tax areas” because of the tax changes. They forecasted a depreciation of 6.2% in New Jersey and 4.8% in Washington D.C. and New York.

What has actually happened?

Here are a few metrics to consider before we write-off the luxury market:

1. According to NAR’s latest Existing Home Sales Report, here is the percent change in sales from last year:

Homes sales between $500,000 – $750,000 are up 11.9%
Homes sales between $750,000 – $1M are up 16.8%
Homes sales over $1,000,000 are up 26.7%
2. In a report from Trulia, it was revealed that searches for “premium” homes as a percentage of all searches increased from 38.4% in the fourth quarter of 2017 to 41.4% in the first quarter of 2018.

3. According to an article from Bloomberg: “Median home values nationally rose 8 percent in March compared with a year earlier, while neighborhoods of San Francisco and San Jose, California, have increased more than 25 percent.

Prices in affluent areas in Delaware and New York, such as the Hamptons, also surged more than 20 percent.” Bottom Line

Aaron Terrazas, Zillow’s Senior Economist, probably summed up real estate’s luxury market the best: “We are seeing the opposite of what was expected. We have certainly not seen the doomsday predictions play out.” Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260.


3

Top Reasons to Own Your Home [INFOGRAPHIC] | MyKCM
Some Highlights:

June is National Homeownership Month!
Now is a great time to reflect on the many benefits of homeownership that go way beyond the financial.
What reasons do you have to own your own home? Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


3

Will Home Prices Fall as Mortgage Rates Rise? |
Mortgage interest rates have increased by more than half of a point since the beginning of the year. They are projected to increase by an additional half of a point by year’s end. Because of this increase in rates, some are guessing that home prices will depreciate.

However, some prominent experts in the housing industry doubt that home values will be negatively impacted by the rise in rates.

Mark Fleming, First American’s Chief Economist: “Understanding the resiliency of the housing market in a rising mortgage rate environment puts the likely rise in mortgage rates into perspective – they are unlikely to materially impact the housing market…

The driving force behind the increase are healthy economic conditions…The healthy economy encourages more homeownership demand and spurs household income growth, which increases consumer house-buying power. Mortgage rates are on the rise because of a stronger economy and our housing market is well positioned to adapt.” Terry Loebs, Founder of Pulsenomics: “Constrained home supply, persistent demand, very low unemployment, and steady economic growth have given a jolt to the near-term outlook for U.S. home prices. These conditions are overshadowing concerns that mortgage rate increases expected this year might quash the appetite of prospective home buyers.” Laurie Goodman, Codirector of the Housing Finance Policy Center at the Urban Institute: “Higher interest rates are generally positive for home prices, despite decreasing affordability…There were only three periods of prolonged higher rates in 1994, 2000, and the ‘taper tantrum’ in 2013. In each period, home price appreciation was robust.” Industry reports are also calling for substantial home price appreciation this year. Here are three examples:

The Home Price Expectation Survey says that prices will appreciate by 5.8% this year.
The Freddie Mac Outlook Report is looking for home prices to appreciate by around 7% in 2018.
The CoreLogic HPI Forecast indicates that home prices will increase by 5.2% on a year-over-year basis. For full post Link in bio.


1

Millennials Are Skipping Starter Homes for Their Dream Homes |
A new trend has begun to emerge. With home prices skyrocketing in the starter home category, many first-time homebuyers are skipping the traditional starter homes and moving right into their dream homes.

What’s a Starter Home?

According to the National Association of Realtors (NAR), simply put, a starter home is a one or two-bedroom home (sometimes even a small, three bedroom). “Prices vary widely by market but starters on average cost $150,000 to $250,000 while trade-up and premium homes cost upwards of $300,000.” Finding Their Forever Homes Now

A recent CNBC article revealed that there are many factors that delayed older millennials (ages 25-35) from buying a home earlier in their lives. The aftereffects of the Great Recession teaming up with larger education costs forced many to either remain living in their parent’s homes or to rent.

With the economy continuing to improve, many millennials have been able to break into better-paying jobs which has helped spur down payment savings. As the dream of homeownership comes closer to reality, many millennials are saving for their forever homes.

According to the latest statistics from NAR, 30% of millennials bought homes for $300,000 or more this year (up from 14% in 2013). Diane Swonk, Chief Economist at Grant Thornton weighed in saying, “They rented for longer. Now they’re going to where they want to stay.” More and more millennials are settling down, getting married, and starting families, which is a huge factor driving them to look for larger homes.

Increased competition in the starter home market has also been a driving force in waiting to afford their dream homes. Inventory in the starter home market is down 14.2% from last year, according to research from Trulia. This has driven prices up and has led to bidding wars.

Many first-time buyers who were originally looking for starter homes are realizing that for just a little bit more of an investment, they could afford trade-up or premium homes instead.

Bottom Line

If you plan on purchasing your first home this year, let’s get together to determine how much house you can afford.


2

5 Reasons Why to Sell This Summer! |
Here are five reasons listing your home for sale this summer makes sense.

1. Demand Is Strong

The latest Buyer Traffic Report from the National Association of Realtors (NAR) shows that buyer demand remains very strong throughout the vast majority of the country. These buyers are ready, willing and able to purchase…and are in the market right now! More often than not, multiple buyers are competing with each other to buy the same home.

Take advantage of the buyer activity currently in the market.

2. There Is Less Competition Now

Housing inventory has declined year-over-year for the last 35 months and is still under the 6-month supply needed for a normal housing market. This means that, in the majority of the country, there are not enough homes for sale to satisfy the number of buyers in the market. This is good news for homeowners who have gained equity as their home values have increased. However, additional inventory could be coming to the market soon.

Historically, the average number of years a homeowner stayed in his or her home was six, but that number has hovered between nine and ten years since 2011. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. As home values continue to appreciate, more and more homeowners will be given the freedom to move.

The choices buyers have will continue to increase. Don’t wait until this other inventory comes to market before you decide to sell.

For the rest of the post link in bio. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


0

La disminución del inventario hace que las ventas disminuyan [infografía] |
Aspectos destacados: ¡Las ventas de las casas existentes se encuentran ahora a un ritmo anual de $5,46 millones!
El inventario de las casas ya existentes para la venta cayó a una oferta mensual para 4 meses, marcando el 35° mes consecutivo en descenso.
El precio medio de las casas vendidas en abril fue de $257,900, este es el 74° mes consecutivo de ganancia en los precios año tras año. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


1

Drop in Inventory Fuels Sales Slowdown [INFOGRAPHIC] |
Some Highlights:

Existing Home Sales are now at an annual pace of 5.46 million.
Inventory of existing homes for sale dropped to a 4-month supply, marking the 35th month in a row of declines.
The median price of homes sold in April was $257,900. This is the 74th consecutive month of year-over-year price gains. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


4

Selling Your House on Your Own Could Cost You |
In this extremely hot real estate market, some homeowners might consider selling their homes on their own which is known as a For Sale by Owner (FSBO). They rationalize that they don’t need a real estate agent and believe that they can save the fee for the services a real estate agent offers.

However, a study by Collateral Analytics reveals that FSBOs don’t actually save anything, and in some cases may be costing themselves more, by not listing with an agent.

In the study, they analyzed home sales in a variety of markets. The data showed that: “FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)

Why would FSBOs net less money than if they had used an agent?

The study makes several suggestions: “There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
“Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.
Conclusions from the study:

FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
The data suggests the average price was near 6% lower for FSBO sales of similar properties.
Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260.


0

Part 2 “Freddie Mac dijo que las tasas más altas de este año todavía no han causado un efecto domino en los niveles de la demanda fuerte para la compra de una casa vista en la mayoría de los mercados, pero las presiones inflacionarias y la perspectiva de las tasas acercándose al 5 por ciento podría comenzar a alcanzar la mente de algunos posibles compradores”.
Comprar lo más pronto le ayudará a asegurar una tasa más baja que si espera, ya que los expertos creen que las tasas seguirán ascendiendo. Incluso un pequeño aumento en las tasas de interés puede tener un gran impacto en su costo mensual de vivienda.

En conclusión,

Si usted está planeando comprar una casa este año, no pierda de vista los precios de la gasolina la próxima vez que esté en la bomba. Si usted comienza a sentir un gran salto en el precio, sepa que las tasas probablemente también están en aumento.

Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


2

¿Por qué las tasas de interés han saltado a un máximo en 7 años? Las tasas de interés para una hipoteca con tasa fija a 30 años han subido de 3.95 % en la primera semana de enero a 4.61 % la semana pasada, lo que marca un máximo en 7 años según Freddie Mac. El ritmo actual de la aceleración ha sido estimulado por muchos factores.

Sam Khater, economista principal de Freddie Mac tenía esto que decir, “El gasto saludable de los consumidores y los precios más altos de los productos básicos asustaron a los mercados de bonos y generaron tasas hipotecarias más altas durante la semana pasada.

No solo los compradores se están enfrentando a costos mayores de endeudamiento, los precios de la gasolina están actualmente en un máximo en cuatro años, justo cuando entramos en la temporada más alta e importante de las ventas de las casas”. Pero ¿Qué tienen que ver los precios de la gasolina con las tasas de interés?

Investopedia explica la relación de esta manera: “El precio del petróleo y la inflación a menudo se considera que están conectados en una relación de causa y efecto. A medida que los precios del petróleo se mueven hacia arriba o hacia abajo, la inflación sigue la misma dirección”.
Es posible que haya notado que llenar su tanque de gasolina se ha vuelto sustancialmente más costoso en los últimos meses. El precio promedio nacional de la gasolina ha subido casa $0.50 desde comienzo del año, llevando al precio más alto del fin de semana del día de la Recordación desde 2014.

A medida que las tasas aumentan su poder adquisitivo disminuye, pero no se preocupe, las tasas todavía están muy por debajo de los promedios vistos en las últimas 4 décadas.

Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


2

Why Have Interest Rates Jumped to a 7-Year High? |
Interest rates for a 30-year fixed rate mortgage have climbed from 3.95% in the first week of January up to 4.61% last week, which marks a 7-year high according to Freddie Mac. The current pace of acceleration has been fueled by many factors.

Sam Khater, Freddie Mac’s Chief Economist, had this to say: “Healthy consumer spending and higher commodity prices spooked bond markets and led to higher mortgage rates over the past week.

Not only are buyers facing higher borrowing costs, gas prices are currently at four-year highs just as we enter the important peak home sales season.” But what do gas prices have to do with interest rates?

Investopedia explains the relationship like this: “The price of oil and inflation are often seen as being connected in a cause-and-effect relationship. As oil prices move up or down, inflation follows in the same direction.” You may have noticed that filling your gas tank has become substantially more expensive in recent months. The average national gas price has climbed nearly $0.50 from the beginning of the year, leading to the highest price for Memorial Day weekend since 2014.

As rates go up, your purchasing power goes down, but don’t worry; rates are still well below the averages we’ve seen over the last four decades. “Freddie Mac said this year’s higher rates have not yet caused much of a ripple in the strong demand levels for buying a home seen in most markets, but inflationary pressures and the prospect of rates approaching 5 percent could begin to hit the psyche of some prospective buyers.” Buying sooner rather than later will help lock in a lower rate than waiting, as the experts believe rates will continue to climb. Even a small increase in interest rates can have a big impact on your monthly housing cost.

Bottom Line

If you are planning on buying a home this year, keep an eye on gas prices the next time you’re at the pump. If you start to feel a big jump in price, know that rates are probably on their way up too. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #hom


0

Cómo las tasas de interés actuales pueden tener un alto impacto en su poder adquisitivo

Según la última encuesta de Freddie Mac ‘Primary Mortgage Market Survey’, la tasa de interés hipotecaria fija a 30 años está actualmente en 4.61 %. ¡Lo que es aún muy baja en comparación con el historial reciente!

La tasa de interés que usted asegura al comprar una casa no solamente afecta en gran manera su costo mensual de la vivienda, pero también afecta su poder adquisitivo.

El poder adquisitivo, sencillamente, es la cantidad de casa que usted puede comprar con el presupuesto que tiene disponible para gastar. A medida que aumenten las tasas, el precio de la casa que puede pagar disminuirá si usted planea mantenerse dentro de cierto presupuesto mensual de vivienda.

La siguiente tabla muestra el impacto que las tasas de interés en aumento podrían tener si usted planea comprar una casa en el rango medio del precio nacional, y planea mantener sus pagos del principal e interés entre $1,850 y $1,900 al mes.

Con el aumento de cada cuarto de un punto porcentual en la tasa de interés, el valor de la casa que usted puede pagar disminuye un 2.5 % (En este ejemplo, $10,000). Los expertos predicen que las tasas hipotecarias estarán cerca del 5 % para esta temporada del próximo año. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


0

How Current Interest Rates Can Have a High Impact on Your Purchasing Power |
According to Freddie Mac’s latest Primary Mortgage Market Survey, interest rates for a 30-year fixed rate mortgage are currently at 4.61%, which is still near record lows in comparison to recent history!

The interest rate you secure when buying a home not only greatly impacts your monthly housing costs, but also impacts your purchasing power.

Purchasing power, simply put, is the amount of home you can afford to buy for the budget you have available to spend. As rates increase, the price of the house you can afford to buy will decrease if you plan to stay within a certain monthly housing budget.

The chart below shows the impact that rising interest rates would have if you planned to purchase a home within the national median price range while keeping your principal and interest payments between $1,850-$1,900 a month.

With each quarter of a percent increase in interest rate, the value of the home you can afford decreases by 2.5% (in this example, $10,000). Experts predict that mortgage rates will be closer to 5% by this time next year.

Act now to get the most house for your hard-earned money. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


0

¡No espere para vender su casa! Los compradores están afuera ahora

Los datos recién publicados por la Asociación nacional de Realtors (NAR por sus siglas en inglés) sugieren que ahora es un gran momento para vender su casa. El concepto de ‘la oferta & la demanda’ revela que el mejor precio de un elemento se logra cuando la oferta de ese elemento es baja y la demanda de ese elemento es alta.

Veamos como esto se emplea al mercado actual de bienes raíces residencial.

La oferta

No es un secreto que la oferta de viviendas para la venta ha estado muy por debajo del número necesario por más de un año en este momento. Un mercado normal requiere seis meses de inventario para satisfacer la demanda. El último informe de la NAR reveló que actualmente hay una oferta de casas en el mercado solo para 3.6 meses. ¡La oferta actual está muy baja!

La demanda

Un informe que acaba de ser publicado nos dice que la demanda está muy fuerte. El informe más reciente del Tránsito peatonal (que arroja luz al número de compradores mirando casas) reveló que “el tránsito peatonal aumento 10.5 puntos a 52.4 en marzo mientras que se acerca la nueva estación”. ¡La demanda actual está muy alta!

En conclusión,

Esperar para vender solo aumentará la competencia entre usted y todos los otros vendedores poniendo sus casas en el mercado en el verano. Si usted está debatiendo entre poner o no su casa a la venta, reunámonos para discutir las condiciones en nuestro mercado. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


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Don’t Wait to Sell Your House! Buyers Are Out Now |
Recently released data from the National Association of Realtors (NAR) suggests that a now is a great time to sell your home. The concept of ‘supply & demand’ reveals that the best price for an item is realized when the supply of that item is low and the demand for that item is high.

Let’s see how this applies to the current residential real estate market.

SUPPLY

It is no secret that the supply of homes for sale has been far below the number needed to sustain a normal market for over a year at this point. A normal market requires six months of housing inventory to meet the demand. The latest report from NAR revealed that there is currently only a 3.6-month supply of houses on the market.

Supply is currently very low!

DEMAND

A report that was just released tells us that demand is very strong. The most recent Foot Traffic Report (which sheds light on the number of buyers who are actually out looking at homes) disclosed that “foot traffic grew 10.5 points to 52.4 in March as the new season approaches.” Demand is currently very high!

Bottom Line

Waiting to sell will only increase the competition between you and all of the other sellers putting their houses on the market later this summer. If you are debating whether or not to list your home, let’s get together to discuss the conditions in our market.
Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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¿Esta su primer hogar a su alcance ahora? [infografía] Algunos aspectos destacados:

Los ‘Millennials’ se definen a los de 18 a 36 años de edad según el Buró del Censo de los Estados Unidos
Según el último Perfil de los compradores y vendedores de casa de NAR, la edad media de todos los compradores de casa por primera vez es de 32 años de edad.
¡Más y más ‘millennials mayores’ (25 a 36 años de edad) se están dando cuenta que ser propietario de vivienda está a su alcance! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


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Is Your First Home Within Your Grasp Now? [INFOGRAPHIC] |
Some Highlights:

According to the US Census Bureau, ‘millennials’ are defined as 18-36-year-olds.
According to NAR’s latest Profile of Home Buyers & Sellers, the median age of all first-time home buyers is 32.
More and more ‘old millennials’ (25-36) are realizing that homeownership is within their grasp now! Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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¿Mudándose a la casa de sus sueños? ¡No espere!

Las tasas de interés han aumentado más de la mitad de un punto desde el comienzo del año, y muchos suponen que, si las tasas hipotecarias aumentan, el valor de las casas cae. La historia, sin embargo, ha demostrado que esto no es cierto. ¿Dónde está el valor de las casas hoy comparado con el comienzo del año?

Mientras que las tasas han estado aumentando, también en valor de las casas. Aquí están los aumentos mensuales del precio más recientes, divulgados por el informe Home Price Insights de CoreLogic.

enero: Los precios aumentaron 0.5 % al mes anterior.
febrero: Los precios aumentaron 1 % al mes anterior.
Marzo: Los precios aumentaron 1.4 % al mes anterior.
No solo los precios siguen apreciando, el nivel de apreciación se aceleró durante el primer trimestre. CoreLogic cree que los precios de las casas aumentarán un 5.2 % durante los próximos 12 meses. ¿Cómo pueden subir los precios mientas aumentan las tasas hipotecarias?

Freddie Mac explicó en un informe reciente: “En el mercado de la vivienda actual, la fuerza motriz detrás del aumento de los precios es un suministro escaso de viviendas nuevas y existentes combinado con las tasas históricamente bajas. A medida que las tasas hipotecarias aumentan, la demanda por la compra de casas seguirá siendo fuerte en relación con el suministro restringido y continuará ejerciendo presión alcista sobre los precios de las viviendas”.
En conclusión,

Si usted está pensando en mudarse a la casa más grande de sus sueños, esperar para más delante de este año y tener la esperanza que los precios caigan puede que no sea una buena estrategia. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


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Moving Up to Your Dream Home? Don’t Wait! |
Mortgage interest rates have risen by more than half of a point since the beginning of the year, and many assume that if mortgage rates rise, home values will fall. History, however, has shown this not to be true.

Where are home values today compared to the beginning of the year?

While rates have been rising, so have home values. Here are the most recent monthly price increases reported in the Home Price Insights Report from CoreLogic:

January: Prices were up 0.5% over the month before.
February: Prices were up 1% over the month before.
March: Prices were up 1.4% over the month before.
Not only did prices continue to appreciate, the level of appreciation accelerated over the first quarter. CoreLogic believes that home prices will increase by 5.2% over the next twelve months.

How can prices rise while mortgage rates increase?

Freddie Mac explained in a recent Insight Report: “In the current housing market, the driving force behind the increase in prices is a low supply of both new and existing homes combined with historically low rates. As mortgage rates increase, the demand for home purchases will likely remain strong relative to the constrained supply and continue to put upward pressure on home prices.” Bottom Line

If you are thinking about moving up to your dream home, waiting until later this year and hoping for prices to fall may not be a good strategy. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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¡Los inquilinos menores de 50 quieren comprar una casa! Cada año, la Reserva federal de New York publica los resultados de su encuesta sobre las Expectativas del consumidor (SCE por sus siglas en inglés). Cada encuesta abarca una amplia gama de temas incluyendo la inflación, el mercado laboral, las finanzas de los hogares, el acceso al crédito y la vivienda.

Una de las muchas preguntas que hicieron en la sección de vivienda de la encuesta fue:

Asumiendo que usted tuviera los recursos financieros para hacerlo, ¿Le gustaría ser PROPIETARIO en vez de ALQUILAR su residencia principal?

Más de tres cuartas partes de los encuestados menores de 50 años dijeron que ellos preferían ser propietarios de su casa, en vez de alquilarla. Mientras que solamente 52.6 % de aquellos de más de 50 preferían ser propietarios. El desglose completo puede ser encontrado en la tabla a continuación.

Cuando se les pregunto a los inquilinos cuál era la probabilidad promedio de ser propietario de una residencia principal en algún momento de su futuro, 66.4 % de aquellos menores de 50 creían que eventualmente serian dueños de su casa, mientras que sólo el 23 % de aquellos de más de 50.

En conclusión,

Muchos se han preguntado si los estadounidenses jóvenes habían perdido el deseo de ser propietarios de su vivienda, para aquellos alquilando ahora, el sueño sigue vivo. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep #mexicoamericano #sueño #univision #telemundo #condadodeorange #california #florida #oc #hogar #comprar #vender #seguir #instagramlatino #washington #utah #bienesraíces #bienesyraices #colombia


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Renters Under 50 Want to Buy a Home! |
Every year, the New York Federal Reserve publishes the results of their Survey of Consumer Expectations (SCE). Each survey covers a wide range of topics including inflation, labor market, household finance, credit access and housing.

One of the many questions asked in the housing section of the survey was:

Assuming you had the financial resources to do so, would you like to OWN instead of RENT your primary residence?

Over three-quarters of respondents under the age of 50 said that they would prefer to own their home, rather than rent. While only 52.6% of those over 50 would prefer to own. The full breakdown can be found in the chart below.

When renters were asked what the average probability of owning a primary residence at some point in their future was, 66.4% of those under 50 believed that they would eventually own their home, while only 23% of those over 50 did.

Bottom Line

Many had wondered if young Americans had lost their desire to own a home, but for those renting now, that dream is still alive. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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El acceso: ¡Un factor importante para conseguir que su casa sea VENDIDA!

Así que, usted decidió vender su casa. Usted contrato un profesional en bienes raíces para que le ayude a través de todo el proceso, y ellos le preguntaron qué nivel de acceso usted quiere proporcionar a los compradores potenciales.

Hay cuatro elementos en una casa para la venta de calidad. En el primer puesto de la lista está el acceso, seguido por la condición, la financiación y el precio. Hay muchos niveles de acceso que usted puede proporcionar a su agente para poder mostrar su casa.

Aquí hay cinco niveles de acceso que usted podría dar a los compradores con una descripción breve:

Caja de seguridad en la puerta – Esta permite a los compradores la capacidad de ver la casa tan pronto como tengan conocimiento que la casa está a la venta o a su conveniencia.
Proporcionar la llave de la casa – Aunque el agente del comprador debe pasar por la oficina para recoger la llave, hay un poco de retraso para poder mostrar la casa.
Acceso abierto con una llamada telefónica – El vendedor permite mostrarla solo con avisar con una llamada telefónica.
Con cita solamente (por ejemplo: 48 horas de anticipación) – Muchos de los compradores que se están reubicando por una profesión nueva o promoción empiezan a trabajar en esa área antes de comprar su casa. A menudo a ellos les gusta aprovechar el tiempo libre durante sus horas de trabajo (así como su hora del almuerzo) para ver casas potenciales. Por esto, ellos tal vez no puedan planear con tanto tiempo por adelantado, o tal vez no puedan esperar 48 horas para que les muestren la casa.
Acceso limitado (por ejemplo: la casa solo está disponible los lunes o martes a las 2 p.m. o solo por un par de horas al día) – Esta es la forma más difícil para poder mostrar su casa a los compradores potenciales.
Con mayo que demuestra ser el mejor mes para vender su hogar, el acceso puede hacer o deshacer su habilidad para obtener el precio que está buscando o incluso vender su casa del todo. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #latino #hispano #casa #vivienda #comprar #sueñoamericano #sisepuede #sipodemos #nahrep


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Access: An Important Factor in Getting Your House SOLD! |
So, you’ve decided to sell your house. You’ve hired a real estate professional to help you through the entire process, and they have asked you what level of access you want to provide to your potential buyers.

There are four elements to a quality listing. At the top of the list is Access, followed by Condition, Financing, and Price. There are many levels of access that you can provide to your agent so that he or she can show your home.

Here are five levels of access that you can give to buyers, along with a brief description:

Lockbox on the Door – this allows buyers the ability to see the home as soon as they are aware of the listing, or at their convenience.
Providing a Key to the Home – although the buyer’s agent may need to stop by an office to pick up the key, there is little delay in being able to show the home.
Open Access with a Phone Call – the seller allows showings with just a phone call’s notice.
By Appointment Only (example: 48-Hour Notice) – Many buyers who are relocating for a new career or promotion start working in that area prior to purchasing their home. They often like to take advantage of free time during business hours (such as their lunch break) to view potential homes. Because of this, they may not be able to plan their availability far in advance or may be unable to wait 48 hours to see the house.
Limited Access (example: the home is only available on Mondays or Tuesdays at 2pm or for only a couple of hours a day) – This is the most difficult way to be able to show your house to potential buyers.
With May proving to be the best month to sell your home, access can make or break your ability to get the price you are looking for, or even sell your house at all. Andres, Lic#1343492, with Bonaventure Realtors. Direct 949-306-9260. #realestate #home #house #housing #homeprices #values #homevalues #homeequity #homeowners #homeownership #homeowner #irvine #tustin #santaana #cypress #costamesa #fullerton #orangecounty #california #florida #tampa #washington #utah #tacoma #lakewood
#housingmarket #homesales #rates #millenials


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