Another round of showers coming this week, and I am working my contacts list. Lots of buyers. I am helping several find their dream home as mortgage rates stay low. So a short posting this week.
If you wish my assistance in buying or selling your home, please contact me at changhomes@gmail.com.
Meanwhile, here are latest news from the housing front:
Steady Climb Seen for Existing-Home SalesAlthough new-home sales will take time to recover, existing-home sales are expected to gradually rise this year and well into 2008, says NAR's latest forecast.
Mortgage Rates Drop as Inflation Worries FadeFixed mortgage rates are a compelling refinancing alternative for adjustable rate borrowers facing sharp payment adjustments.
Sunday, February 11, 2007
Sunday, February 4, 2007
Busy, Warm Weekend
I had 2 open houses this weekend in the ritzy area of Stevenson Ranch. Both properties were list-priced around $1 million. It was sunny and warm in LA (unlike last week) and turnout was good, even Sunday Super Bowl afternoon! I was tearing down my signs at 4pm and there were still people wanting to come in! Buyer interest has definitely picked up in SCV, and this past week I'm hearing from my colleagues in Antelope Valley that buyer calls are just beginning to pick up there too. It looks good to a "soft landing" in these two valleys.
"Soft Landing" is a misleading term for this changing market. We're not seeing the 20%+ annual housing appreciation, but homes are still increasing in value year-over-year (closer to 6-8%). We are having homes sit on the market longer, but they are not decreasing in value. That's why we encourage first-time homebuyers that they need to get into the market as sson as they can or get left out as home prices increase. In society, there are the have's and have-not's -- those that own homes in the Southern California market and those that don't.
I've been quoting too much financial news in the past couple of posts. Tonight, this study caught my eye, courtesy of RISMedia:
A nationwide survey of existing homeowners reveals that men and women operate differently during the home-buying process. In fact, nearly half of those women surveyed (43%) said they did not spend enough time shopping for their new home, while less then one quarter of all men surveyed (23%) said they spent too much time during the buying process. The survey was conducted from January 16-19, 2007 by Countrywide Home Loans.
Interestingly, the survey revealed that both men and women saw room for improvement in the way they approach the home-buying process. Those surveyed said that when buying their next home, they would:
1) Save more money for down payment and closing costs (25%)2) Learn more about the home buying process before they began their home purchase negotiations (25%)3) Purchase a new house instead of an older home (22%)4) Buy in a different neighborhood (21%)
As with any financial decision, consumers should carefully evaluate their options and fully understand both the benefits and drawbacks before making a home purchase.
"Soft Landing" is a misleading term for this changing market. We're not seeing the 20%+ annual housing appreciation, but homes are still increasing in value year-over-year (closer to 6-8%). We are having homes sit on the market longer, but they are not decreasing in value. That's why we encourage first-time homebuyers that they need to get into the market as sson as they can or get left out as home prices increase. In society, there are the have's and have-not's -- those that own homes in the Southern California market and those that don't.
I've been quoting too much financial news in the past couple of posts. Tonight, this study caught my eye, courtesy of RISMedia:
A nationwide survey of existing homeowners reveals that men and women operate differently during the home-buying process. In fact, nearly half of those women surveyed (43%) said they did not spend enough time shopping for their new home, while less then one quarter of all men surveyed (23%) said they spent too much time during the buying process. The survey was conducted from January 16-19, 2007 by Countrywide Home Loans.
Interestingly, the survey revealed that both men and women saw room for improvement in the way they approach the home-buying process. Those surveyed said that when buying their next home, they would:
1) Save more money for down payment and closing costs (25%)2) Learn more about the home buying process before they began their home purchase negotiations (25%)3) Purchase a new house instead of an older home (22%)4) Buy in a different neighborhood (21%)
As with any financial decision, consumers should carefully evaluate their options and fully understand both the benefits and drawbacks before making a home purchase.
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