Why It Makes No Sense to Wait for Spring to Sell

The price of any item (including residential real estate) is determined by the theory of ‘supply and demand.’ If many people are looking to buy an item and the supply of that item is limited, the price of that item increases.

The supply of homes for sale dramatically increases every spring, according to the National Association of Realtors (NAR). As an example, here is what happened to housing inventory at the beginning of 2018:

Putting your home on the market now, rather than waiting for increased competition in the spring, might make a lot of sense.

Bottom Line

Buyers in the market during the winter are truly motivated purchasers and they want to buy now. With limited inventory currently available in most markets, sellers are in a great position to negotiate.

http://www.iloveleisurevillage.com

Lovely Fiesta model home for Sale in Leisure Village

7138 Village 7, Leisure Village
Camarillo CA Home for Sale

Welcome to this very clean, spacious and private Fiesta model with 2-car garage and interior laundry in Leisure Village (55+) community. This unique floor plan seldom comes on the market. It has two bedrooms, two baths, large living/dining room, nice-sized kitchen and very large front courtyard patio (approximately 21'x16'). This nice home is built in a U-shape with views of the attractive patio from the master bedroom, kitchen and living rooms. The open patio has a nice block wall for additional privacy. It is within easy walking distance to the Rec Center. Leisure Village residents enjoy 18 hole-par 3 golf, tennis, pool, spa, billiards, paddle tennis, shuffleboard, WII bowling, ceramics, wood and lapidary shops, library, table tennis, lawn chess, putting green, horseshoes and much more. There is a club for everyone. Welcome Home! 

http://www.ILoveLeisureVillage.com

https://www.flexmls.com/share/20pRk/7138Village7CamarilloCA93012

Is The Recent Dip In Interest Rates Here To Stay?

Interest rates for a 30-year fixed rate mortgage climbed consistently throughout 2018 until the middle of November. After that point, rates returned to levels that we saw in August to close out the year at 4.55%, according to Freddie Mac’s Primary Mortgage Market Survey.

After the first week of 2019, rates have continued their downward trend. As Freddie Mac’s Chief Economist Sam Khater notes, this is great news for homebuyers. He states,

“Mortgage rates declined to start the new year with the 30-year fixed-rate mortgage dipping to 4.51 percent. Low mortgage rates combined with decelerating home price growth should get prospective homebuyers excited to buy.”

In some areas of the country, the combination of rising interest rates and rising home prices had made some first-time buyers push pause on their home searches. But with more inventory coming to market, continued price growth, and interest rates slowing, this is a great time to get back in the market!

Will This Trend Continue?

According to the latest forecasts from Fannie Mae, the Mortgage Bankers Association, and the National Association of Realtors, mortgage rates will increase over the course of 2019, but not at the same pace they did in 2018. You can see the forecasts broken down by quarter below.

Bottom Line

Even a small increase (or decrease) in interest rates can impact your monthly housing cost. If buying a home in 2019 is on your short list of goals to achieve, meet with a local real estate professional who can help prepare you to take action.

http://www.iloveleisurevillage.com

http://www.search805homes.com

Now is a Good Time to Buy a Vacation Property!

Buying A Vacation Property? Now Is A Good Time!

Every year around this time, many homeowners begin the process of preparing their homes in case of extreme winter weather. Some others skip winter all together by escaping to their vacation homes in a warmer climate. For those homeowners staying at their first residence, AccuWeather warns: “The late-week cold shot should fade next week, but this is a warning shot for winter’s return late in the month and early February.” Given this, it’s time to go and stock up on winter weather supplies! However, if you’re tired of shoveling snow and dealing with the cold weather, maybe it’s time to consider obtaining a vacation home! According to the Investment & Vacation Home Buyers 2018 Report by NAR: “72% of vacation property owners and 71% of investment property owners believe now is a good time to buy.” It’s time to take advantage of the equity in your home. As the latest Equity Report from ATTOM Data Solutions stated: “Nearly 14.5 million U.S. properties (are) equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value — up by more than 433,000 from a year ago to a new high as far back as data is available, Q4 2013. The 14.5 million equity rich properties in Q3 2018 represented 25.7 percent of all properties with a mortgage.” This means that over a quarter of Americans who have a mortgage would be able to use some of their home equity to make a significant down payment toward a vacation home, and many are doing just that! According to the same report by NAR: “33% of vacation buyers purchased in a beach area, 21% purchased on a lakefront, and 15% purchased a vacation home in the country.” Many homeowners who are close to retirement will use some of their equity to purchase vacation homes, which may eventually become their permanent homes post-retirement! Bottom Line If you are a homeowner looking to take advantage of your home equity by investing in a vacation home, contact an agent in your area to discuss your options! http://www.iloveleisurevillage.com http://www.search805homes.com

Where is the Housing Market Headed in 2019

Some Highlights:

• ­Interest rates are projected to increase steadily throughout 2019, but buyers will still be able to lock in a rate lower than their parents or grandparents did when they bought their homes!
• Home prices will rise at a rate of 4.8% over the course of 2019 according to CoreLogic.
• All four major reporting agencies believe that home sales will outpace 2018!

http://www.iloveleisurevillage.com

http://www.search805homes.com