Leslie Appleton-Young, vice president and chief economist, California Association of REALTORS® (C.A.R.), recently delivered her annual “2017 Housing Market Perspectives” presentation to a group of local REALTOR® members. “It may be a bumpy ride, but I believe there...
The inauguration is almost here - Trump will be your president on Friday! How will he affect our local real estate market? His detractors are aghast over his tweets, but Trump keeps them coming. In spite of their bombastic nature, I think we are already numb to his...
They may be using an algorithm or math formula to calculate the above, but there is more to the discussion. The attractiveness of renting is different for everyone, regardless of income. P.S. Rates have settled down nicely, and are at 4.10% today. Read full article...
Happy New Year! Other topics: Pre-Listing Inspections - If you are buying and selling around the coast, chances are that you're dealing with an older house. Not many have been updated and remodeled enough to deserve today's record-high prices - and at this point,...
It is assumed that the real estate industry is ripe for disruption. We see a new whiz-bang website just about every week that was developed by two guys in a garage who think they have the answer - but then are never heard from again. The reason is advertising. Zillow...
Logically, it would make sense to expect that higher rates AND prices would raise the home-selling intensity to a whole new level. Buyers will expect prices to re-trace somewhat, and will probably think, "Can't we just go back to 2015 prices?" And sellers will think,...
Just two months ago, on October 5th, the NAR prediction was for 6 million existing home sales in 2017 - they have backed it down to 5.5 million now. Fannie, Freddie, and the MBA are predicting 6.2 million and higher, but the 5.5 million looks more realistic. We...
Here's the update on last month. There were two fewer business days in 2014, and one less business day in 2013 and 2015 (same # in 2012). With both sales AND pricing being this strong, the momentum should carry over to 2017.....and I think we'll get off to a fast...
They speak about the future as if they have the crystal ball, and can state what will happen next year. Of course, things only get better: http://www.car.org/marketdata/marketforecast/ Following a dip in home sales in 2016, California’s housing market will post a...
It's that time again - experts making predictions for next year! We might as well start with the big kahuna, whose predictions are a tad vague: Here is Zillow's look ahead at the 2017 housing market: Zillow's 2017 Predictions Cities will focus on denser development of...
