Real Estate Advice Archives - Page 7 of 14

👩🏻 Christine Almarines @christine_almarines
Realtor DRE# 01412944 | 714-476-4637

👩🏻 Michelle Kim @michellejeankim_homes I speak Korean!
Realtor DRE# 01885912 | 714-253-7531

👩🏻 Anaid Bautista @singlemomrealtor I speak Spanish!
Realtor DRE# 02179675 | 949-391-8266

👩🏻 Christine Almarines @christine_almarines
Realtor DRE# 01412944 | 714-476-4637

👩🏻 Michelle Kim @michellejeankim_homes I speak Korean!
Realtor DRE# 01885912 | 714-253-7531

👩🏻 Anaid Bautista @singlemomrealtor I speak Spanish!
Realtor DRE# 02179675 | 949-391-8266

Are you a baby boomer who’s lived in your current house for a long time and you’re ready for a change? If you’re thinking about selling your house, you have a lot to consider. Will you move to a different state or stay nearby? Is it time to downsize or do you want more space to accommodate your loved ones? But maybe the biggest consideration boils down to this – will you buy your next home or choose to rent instead?

That decision ultimately depends on your current situation and your future plans. Here are two important factors to help you decide what’s right for you.

Expect Rents to Keep Going Up

The graph below uses data from the Census to show how rents have been climbing steadily since 1988:Rents have been going up consistently over the long run. If you choose to rent, there’s a risk your rental payment will go up each time you renew your lease. Having a higher rental expense may not be something you want to deal with every year.

When you buy a home with a fixed-rate mortgage, it helps stabilize your monthly housing payment. This allows you to lock in your monthly payment for the duration of your home loan. That keeps your payments steady and predictable for the long haul. Freddie Mac sums it up like this:

Owning Your Home Comes with Unique Benefits

According to AARP, buying your next home is a better long-term strategy than renting:

To help you choose what you’ll do after you sell, here are just a few of the benefits of homeownership that article covers:

Bottom Line

If you’re a baby boomer who’s wondering whether you should buy or rent your next home, call Christine Almarines at CA Real Estate Group for advice at (714) 476-4637. With rents going up and homeownership providing so many benefits, it may make sense to consider buying your next home.

Some Highlights

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.

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):

Selma Hepp, Chief Economist at CoreLogic:

Clare Trapasso, Executive News Editor at Realtor.com:

Jeff Tucker, Senior Economist at Zillow:

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.

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. 📈📉📊

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!

Expect Rents to Keep Going Up

Owning Your Home Comes with Unique Benefits

Bottom Line

Some Highlights

Don’t Fall for the Next Shocking Headlines About Home Prices

Why This Is So Important to Understand

Bottom Line

**Lawrence Yun, Chief Economist at the National Association of Realtors (NAR):**

**Selma Hepp, Chief Economist at CoreLogic:**

**Clare Trapasso, Executive News Editor at Realtor.com:**

**Jeff Tucker, Senior Economist at Zillow:**

Bottom Line

HYPE VERSUS DATA

SELLERS!!!

Some Highlights

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