Don’t Fall for the Next Shocking Headlines About Home Prices
If you’re thinking of buying or selling a home, one of the biggest questions you have right now is probably: what’s happening with home prices? And it’s no surprise you don’t have the clarity you need on that topic. Part of the issue is how headlines are talking about prices.
They’re basing their negative news by comparing current stats to the last few years. But you can’t compare this year to the ‘unicorn’ years (when home prices reached record highs that were unsustainable). And as prices begin to normalize now, they’re talking about it like it’s a bad thing and making people fear what’s next. But the worst home price declines are already behind us. What we’re starting to see now is the return to more normal home price appreciation.
To help make home price trends easier to understand, let’s focus on what’s typical for the market and omit the last few years since they were anomalies.
Let’s start by talking about seasonality in real estate. In the housing market, there are predictable ebbs and flows that happen each year. Spring is the peak homebuying season when the market is most active. That activity is typically still strong in the summer but begins to wane as the cooler months approach. Home prices follow along with seasonality because prices appreciate most when something is in high demand.
That’s why, before the abnormal years we just experienced, there was a reliable long-term home price trend. The graph below uses data from Case-Shiller to show typical monthly home price movement from 1973 through 2021 (not adjusted, so you can see the seasonality):
As the data from the last 48 years shows, at the beginning of the year, home prices grow, but not as much as they do entering the spring and summer markets. That’s because the market is less active in January and February since fewer people move in the cooler months. As the market transitions into the peak homebuying season in the spring, activity ramps up, and home prices go up a lot more in response. Then, as fall and winter approach, activity eases again. Price growth slows, but still typically appreciates.
Why This Is So Important to Understand
In the coming months, as the housing market moves further into a more predictable seasonal rhythm, you’re going to see even more headlines that either get what’s happening with home prices wrong or, at the very least, are misleading. Those headlines might use a number of price terms, like:
- Appreciation: when prices increase.
- Deceleration of appreciation: when prices continue to appreciate, but at a slower or more moderate pace.
- Depreciation: when prices decrease.
They’re going to mistake the slowing home price growth (deceleration of appreciation) that’s typical of market seasonality in the fall and winter and think prices are falling (depreciation). Don’t let those headlines confuse you or spark fear. Instead, remember it’s normal to see a deceleration of appreciation, slowing home price growth, as the months go by.
Bottom Line
If you have questions about what’s happening with home prices in your area, connect with CA Real Estate Group. Call Christine Almarines at (714) 476-4637.
https://www.carealestategroup.com/monthly-newsletters/july-2023-newsletter/
Summer brings warmer nights and the yearning to linger outdoors. But once the sun goes down, your patio or deck requires special lighting to make it as inviting as the inside of your home. Here are six easy ways you can transform your patio or deck lighting. You might never want to go back inside again.
keepingcurrentmatters.com | May 25, 2023
If you’re trying to decide if now’s the time to sell your house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyers out there than there are homes for sale. And, with so few homes on the market, buyers will have fewer options, so you set yourself up to get the most eyes possible on your house.
Here’s what industry experts are saying about why selling now has its benefits:
Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):
“Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties.”
Selma Hepp, Chief Economist at CoreLogic:
“We have not seen the traditional uptick in new listings from existing homeowners, so undersupply of housing will continue to heighten market competition and put pressure on prices in most regions. Some markets are already heating up considerably, but price premiums that we saw last spring and summer are unlikely.”
Clare Trapasso, Executive News Editor at Realtor.com:
“Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country . . .”
Jeff Tucker, Senior Economist at Zillow:
“. . . sellers who price and market their home competitively shouldn’t have a problem finding a buyer.”
Bottom Line
If you’re thinking about selling your house, connect us at CA Real Estate Group and we can share the expert insights you need to make the best possible move today. Call Christine Almarines at 714-476-4637.
When it comes to keeping known hazards out of your home, you probably already have a good idea about the things that you need to get rid of — like that stack of junk mail sitting on your steps that has the potential to become a tripping hazard — but did you know there are other surprise dangers hiding in your home?
No matter whether you rent or own, you should be keeping an eye on these eight hidden dangers and tossing them as soon as they become problematic.
It’s never good to keep known toxins in or around your home, which is why Kevin Geick, manager of Bio Recovery, says you should dispose of hazardous materials such as old paint cans, pesticides, cleaning chemicals, or batteries following local regulations as soon as you’re done with them.
“Many communities have designated drop-off points for hazardous waste,” he adds. “These materials pose potential risks to the environment and human health if not disposed of properly, so it’s important to discard them as soon as possible to prevent accidents or contamination.”
Fire extinguishers are essential safety devices, but many people overlook the fact that they come with an expiration date, shares Karina Toner, operations manager at Spekless Cleaning. “Expired fire extinguishers might not work effectively during an emergency, which would put lives and property at risk,” she says. “It’s crucial to regularly check the expiration dates and replace or recharge them accordingly.”
Expired Food and Pantry Items
You may already know that it might not be a good idea to eat food that has gone way past its expiration date and shows signs of spoilage, but did you know it can be harmful to even have those items hanging out in your fridge or pantry? That’s why Geick says it’s so important to regularly check your pantry and refrigerator for expired or spoiled food.
“Discard any items that have passed their expiration dates or show signs of spoilage,” he says. “These items can harbor harmful bacteria or toxins, leading to foodborne illnesses, so it’s crucial to discard them promptly to maintain a safe and hygienic environment in your home.”
Expired Household Chemicals
Believe it or not, household chemicals such as bleach, ammonia, and drain cleaners can pose serious health and safety risks if mishandled, stored improperly, or kept past their “good by” date.
“People often forget about partially used containers or overlook the expiration dates,” Toner says. “These chemicals can lose their effectiveness or become unstable over time, leading to potential accidents or chemical reactions.” You should safely dispose of expired or unused chemicals at designated collection centers or hazardous waste facilities.
Parents, especially parents with multiple children or kids with large age gaps, know just how easy it is to accumulate baby products like car seats, strollers, and cribs. “However, safety standards and regulations for these items evolve, and older products might not meet the latest safety requirements,” according to Toner. “It’s crucial to stay informed about product recalls and dispose of outdated or recalled baby items properly to ensure the safety of infants and young children.”
Broken or Chipped Dishware
Angela Lee, a content writer for Hellamaid, says holding onto coffee mugs or dishware with cracks or chips in them is just a disaster waiting to happen. Not only do you run a risk of getting cut on the sharp edges of these pieces, but you’re exposing yourself to an additional risk of being burned or badly injured if your dish fails while you’re using it.
Perhaps even more concerning, you may be unknowingly exposing yourself to bacteria and mold by using these pieces. “The cracks and crevices in chipped or cracked items can harbor bacteria, especially in porous materials like ceramics,” she says. “Even with thorough washing, it can be challenging to remove all the bacteria from the damaged areas. This can potentially lead to contamination and increase the risk of foodborne illnesses.”
Keeping your favorite lipsticks, eyeliners, and mascaras in the rotation past their shelf life can have dire consequences, according to Rocky Vuony, founder and director of Calibre Cleaning. “Over time, these can harbor bacteria, leading to skin infections,” he says. “Dispose of any items past their [expiration] date.”
Air vents and ducts accumulate dust, pet dander, and other allergens, which Muffetta Krueger, cleaning expert and founder of Muffetta’s Domestic Assistants, says can affect indoor air quality. “Regularly cleaning and maintaining these areas can improve airflow, minimize allergens, and enhance the overall indoor environment.”
The frequency of cleaning air vents and ducts depends on various factors, according to Krueger, including the environment, the presence of pets, and the overall air quality. “As a general guideline, it’s recommended to have your air vents and ducts professionally cleaned every three to five years. However, if you notice excessive dust buildup, mold growth, or experience worsened indoor air quality, it’s advisable to have them cleaned sooner.”
Jun 21, 2023
If you’re looking to buy or sell a home 🏠, you’ve probably heard the term “seller’s market,” but what is a seller’s market, and how does it affect your homebuying process? 🤔
A seller’s market often results in higher home prices and bidding wars on desirable properties. When you find a property you want to buy 😍, it’s best to have a CA Real Estate Group agent 💁🏻♀️ on your side to help you navigate the waters of the seller’s market.
Let’s take a closer look 🧐 at a seller’s market over the next few Wednesdays, see how it differs from a buyer’s market, and how we can help you through the current real estate trends. 📈📉📊
Southern California is home to some of the most diverse and famous shopping centers! We have everything from heavily discounted outlet malls to the glamour and glitz of luxury malls. Stroll through these sites to decide where you’d like your next shopping destination to be!
June 14, 2023
HYPE VERSUS DATA
From YouTube to TikTok to the backyard barbecue, there are plenty of narratives regarding the pending doom for housing that the underlying data does not support.
SELLERS!!!
It’s a hot market that we’re advising all Sellers take advantage of! ACT SOON and contact us to get your home sold for a great price!
If you have a fruit fly infestation, take a look here! We love following @theboardhousewifepdx and she says that she’s tried a lot of fruit fly traps in her time, but this is the most effective method. EVER.
Realtor.com | By Larissa Runkle | May 26, 2023
We all have a summer to-do list: Weed the garden, refinish the deck, deep-clean the patio furniture before your big Fourth of July party. But around this time of year, many of us also start putting together a very different type of checklist: the summer bucket list.
Filled with sun-centric activities that will ensure you have an enjoyable season, this bucket list often involves hobbies that can be done in the comfort of your own backyard.
Maybe you want to spend more time reading or cooking your way through an entire cookbook. Whatever your summer goals are, we have some ideas on outdoor decor that can help make them happen. Here are five trending outdoor looks from Instagram this week that will help you check off every item on your summer bucket list.
1. Back porch bistro
For those who love to cook or have ambitious summer cooking plans—you’re going to want a place where you can enjoy those meals. Enter: this back porch bistro look from @homewithrue.
“An outdoor patio with a bistro table sets the stage for long, leisurely conversations and laughter-filled evenings,” says designer Robin DeCapua, of Madison Modern Home. “Invite your friends to cook with you—you’ll need the extra helping hands if you want to tackle that whole cookbook!”
Get the look: Create your perfect back porch bistro with this outdoor bistro set.
2. Patio potting bench
Every great gardener needs a potting bench to organize plants and prepare seeds. We’re particularly taken by this moody-colored potting bench seen in a post by @ohhomelygirl.
“This potting bench is a fantastic example of how to use your outdoor space to enhance your interests and pay attention to your bucket list,” says designer Dani Smith. “It’s perfect if you’re interested in gardening or even love to repot and propagate houseplants—it sets an intention and provides a casual-living aesthetic.”
Get the look: Give your green thumb an outlet this summer with this potting bench.
3. Garden reading nook
Looking for a quiet retreat where you can devour your growing pile of summer reads? Curate a reading nook like the one seen in this post from @cuckoolandcom.
“A comfy outdoor chair, adorned with plush cushions and a cozy throw, will invite you to curl up and dive into your literary adventure,” says DeCapua. “Set up a small table nearby to hold a refreshing glass of lemonade and a stack of books. With your summer garden reading nook, you can indulge in your love of reading while basking in the beauty of nature.”
Get the look: Get ready to have some of your best reading days of the season on this daybed.
4. Backyard fire pit
Need a place to gather around the fire with your brood? Check out this fire pit setup featured in a post from @outdoordesignerstore.
“What I especially love about this gathering area is that it’s the perfect foundation for entertaining,” says Smith. “Just fire up the pit and surround it with cushions, blankets, a lantern or two, a tray with drinks—you can’t go wrong.”
Get the look: Design your perfect summer gathering spot by combining this fire pit with a few of these floor pillows.
5. Poolside Tiki bar
If learning how to shake up some new craft cocktails is on your summer bucket list, you probably want to have a spot to show off your skills.
This poolside Tiki bar, seen in a post from @fincadelicaibiza, is a luxurious version of something you can achieve in your backyard.
“Refreshing drinks, good vibes, and lots of fun—cheers to the perfect poolside Tiki bar,” says DeCapua.
Get the look: Go all in with a thatched-roof Tiki bar or keep it classic with this wooden bar table.
