5starrealtor: Slow and Steady Improvement-From The Latest Socal Unemployment Report - 08/10/20 01:09 PM
Last Friday, the Bureau of Labor Statistics (BLS) released its latest Employment Situation Summary. Going into the release, the expert consensus was for 1.58 million jobs to be added in July, and for the unemployment rate to fall to 10.5%.
When the official report came out, it revealed that 1.8 million jobs were added, and the unemployment rate fell to 10.2% (from 11.1% last month). Once again, this is excellent news as this was the third consecutive month the unemployment rate decreased.There is, however, still a long way to go before the job market fully recovers. The Wall Street Journal (WSJ) put a potential date on that recovery:
“July’s payroll growth, at 1.8 … (0 comments)

5starrealtor: SoCal Home Buyer Preferences In 2020 - 08/10/20 12:32 PM
Some Highlights A recent study from HarrisX shows the current health crisis isn’t slowing down today’s homebuyers. Many buyers are accelerating their timelines to take advantage of low mortgage rates, and staying home has enabled some to save more money to put toward a down payment. Let’s connect today if your needs have recently changed and you’re ready to make a move this year.  
« How Is Remote Work Changing Homebuyer Needs?The Latest Unemployment Report: Slow and Steady Improvement »  
Why Homeowners Have Great Selling Power Today What is My Home Worth? To Get A Market SnapShot Click Here . Facebook Badge Chris B Johnson
Ask … (0 comments)

5starrealtor: Is SoCal Work From Home Changing Homebuyer Needs? - 08/06/20 05:23 PM
With more companies figuring out how to efficiently and effectively enable their employees to work remotely (and for longer than most of us initially expected), homeowners throughout the country are re-evaluating their needs. Do I still need to live close to my company’s office building? Do I need a larger home with more office space? Would making a move to the suburbs make more sense for my family? All of these questions are on the table for many Americans as we ride the wave of the current health crisis and consider evolving homeownership needs.
According to George Ratiu, Senior Economist for realtor.com:
“The ability to work remotely … (0 comments)

5starrealtor: Today’s SoCal Buyers Are Serious about Purchasing a Home - 08/05/20 05:27 PM
Today’s homebuyers are not just talking about their plans, they’re actively engaged in the buying process – and they’re serious about it. A recent report by the National Association of Home Builders (NAHB) indicates:
“…. Of American adults considering a future home purchase in the second quarter of 2020, about half (49%) are not simply planning it, they are actively engaged in the process to find a home. That is a significantly higher share than the comparable figure a year ago (41%), which suggests that the COVID-19 crisis and its accompanying record-low mortgage rates have converted some prospective buyers into active buyers.”
It’s no surprise that buyers are … (0 comments)

5starrealtor: Have The Reversals Slowed the SoCal Real Estate Recovery ?? - 08/05/20 05:12 PM

Just Listed -- 958 Breton  Street
by Mark Schniepp
August 4, 2020  RePosted By Chris B Johnson Realtor
The strong recovery we observed in May and were optimistic about going into the summer has clearly weakened. The economy is now moving sideways, at best.
The western world has now suffered through 20 weeks of the pandemic. During the 20 weeks, May 16 to August 4, 4.9 million people have tested positive for coronavirus in the U.S. Reported deaths from the disease now stand at 160,000.
Most of the U.S. economy was locked down for half of March, all of April, and about half of May. Consequently, … (0 comments)

5starrealtor: Why SoCal Homeowners Have Great Selling Power Today - 08/05/20 04:51 PM
We’re sitting in an optimal moment in time for homeowners who are ready to sell their houses and make a move this year. Today’s homeowners are, on average, staying in their homes longer than they used to, and this is one factor driving increased homeowner equity. When equity grows, selling a house becomes increasingly desirable. Here’s a breakdown of why it’s a great time to capitalize on equity gain in today’s market.
As average homeowner tenure lengthens and home prices rise, equity, a form of forced savings, can be applied forward to the purchase of a new home. CoreLogic explains:
“Over the past 10 years, the equity position … (0 comments)

5starrealtor: The Experts Weigh-In on the Remarkable Strength of the SoCal Housing Market - 08/03/20 02:15 PM
We believe every family should feel confident when buying and selling a home. America has faced its share of challenges in 2020. A once-in-a-lifetime pandemic, a financial crisis leaving millions still unemployed, and an upcoming presidential election that may prove to be one of the most contentious in our nation’s history all continue to test this country in unimaginable ways.
Even with all of that uncertainty, the residential real estate market continues to show great resilience. Here’s a look at what the experts have said about the housing market over the past few weeks.
Ivy Zelman, CEO of Zelman & Associates:
“Whether in terms of pending … (0 comments)

5starrealtor: Buying AND Selling a Home at THE SAME TIME is Sooooo Stressful!! - 08/03/20 12:20 PM
Re-Posted Chris B Johnson REALTOR
Written byCRISSINDA PONDER Edited byDEBORAH KEARNS Published on: July 27th, 2020 For many home sellers, the most anxiety-inducing part of the home-selling process is trying to simultaneously sell their current place while buying their next dream home.
That’s according to findings from a new survey commissioned by LendingTree, which also found that sellers are planning to spend an average of more than $10,000 on repairs and upgrades to sell their home.
Key findings The No. 1 stressor for nearly one-third (29%) of home sellers is buying and selling a home at the same time.  
Another … (0 comments)

5starrealtor: Get Out The Crystal Ball - Where Is the Housing Market Headed for the Rest of 2020? - 07/31/20 12:05 PM
Some Highlights: The housing market is forecasted to finish the year with growing strength. Historically low mortgage rates are creating great potential for homebuyers, and home sales are on the rise. If you’re thinking of buying or selling a home this year, let’s connect to maximize your opportunity today.  
« Will We See a Surge of Homebuyers Moving to the Suburbs? 
From Seed to Sauce: A Guide to TomatoesTomatoes are a summer staple and there are so many ways to make use of this versatile vegetable this time of year—including making homemade pasta sauce!
Read Article Value-Added Outdoor ImprovementsLooking to give … (2 comments)

5starrealtor: Will SoCal See a Surge of Home Buyers Moving to the Burbs? - 07/30/20 04:43 PM
As remote work continues on for many businesses and Americans weigh the risks of being in densely populated areas, will more people start to move out of bigger cities? Spending extra time at home and dreaming of more indoor and outdoor space is certainly sparking some interest among homebuyers. Early data shows an initial trend in this direction of moving from urban to suburban communities, but the question is: will the trend continue?
According to recent data from Zillow, there is a current surge in urban high-end listings in some larger metro areas. The month-over-month increase in these homes going on the market … (0 comments)

5starrealtor: SoCal Homeownership Rate Continues to Rise in 2020 - 07/29/20 04:16 PM
So far, it’s been quite a ride this year, and our nation has truly seen its fair share of hurdles. From COVID-19 to record unemployment and then the resulting recession, just to name a few, the second quarter of 2020 has had more than a few challenges. Amidst the many roadblocks, however, the U.S. homeownership rate rose again, signaling great strength in the recovery of the housing market and an indication that even in a time of crisis, Americans still feel confident about buying a home.
Yesterday, the U.S. Census Bureau announced:
“The homeownership rate of 67.9 percent was 3.8 percentage points higher … (0 comments)

5starrealtor: Guidance and Support Are Key When Buying Your First Home - 07/28/20 11:25 AM
In June, the number of first-time homebuyers accounted for 35% of the existing homes sold, a trend that’s been building steadily throughout the year. According to the National Association of Realtors (NAR):
“The share of first-time buyers increased in March through June—right into the heart of the pandemic period and the surge in unemployment—and is now trending higher than the 29% to 32% average in past years since 2012.” (See graph below):

Why the rise in first-time homebuying? NAR continues to say:
“The major factor is, arguably, low mortgage rates. As of the week ended July 16, the 30-year fixed mortgage rate dropped … (2 comments)

5starrealtor: 3 of the Latest Reports Show the SoCal Housing Market Is Strong! - 07/27/20 01:52 PM
The residential real estate market is remaining resilient as the country still struggles to beat the COVID-19 pandemic. Three separate reports recently revealed how the housing market is still showing growth. Here’s a look at each one.
1. Ivy Zelman’s Real Estate Broker Survey The survey explains that purchaser demand remains strong:
“This month’s overall homebuyer demand rating…was easily the strongest sequential gain in our survey history…Strength continues to be led by the entry-level…While high-end demand is less robust in an absolute sense, there has also been relative improvement, with contacts attributing incremental improvement to the stock market’s rebound, record low mortgage rates … (2 comments)

5starrealtor: This SoCal Recovery Remains Stable AND Unpredictable - 07/25/20 03:18 PM
RePosted By ChrisBJohnsonRealtor     
by Mark Schniepp  
The weekly unemployment rate for California continues to push higher after initial claims for unemployment benefits by wage and salary workers rose by 8,000 in the week ending July 18, 2020.
There are now 5.4 million workers drawing unemployment insurance benefits in California, an increase of nearly 500,000 from the previous week. Most of this increase was observed in the Pandemic Unemployment Assistance claims filed by non W-2 workers (self employed and contractors).
The unemployment rate is now at the highest level since the economy reopened in mid-May. The recent shutdown of indoor restaurants, gyms, museums, and personal … (2 comments)

5starrealtor: Your SoCal REALTOR Is More Helpful Now than Ever [INFOGRAPHIC ChrisBJohnsonREALTOR] - 07/24/20 11:18 AM
Some Highlights A recent study shared by NAR notes that both buyers and sellers think an agent is more helpful than ever during the current health crisis. Expertise and professionalism are highly valued and can save buyers and sellers time and effort along the way. If you’re thinking of buying or selling a home this year, let’s connect to be sure you have a trusted professional on your side.  
« Home Sales Hit a Record-Setting Rebound 
Ask Your Agent: 10 Questions for the Closing Process What Are Experts Saying about Home Prices?Does Your Home Have What Buyers Are Looking For?   
      … (0 comments)

5starrealtor: SoCal Home Sales Hit a Record-Setting Rebound - 07/24/20 09:00 AM
#ChrisBJohnsonREALTOR
With a worldwide health crisis that drove a pause in the economy this year, the housing market was greatly impacted. Many have been eagerly awaiting some bright signs of a recovery. Based on the latest Existing Home Sales Report from the National Association of Realtors (NAR), June hit a much-anticipated record-setting rebound to ignite that spark.
According to NAR, home sales jumped 20.7% from May to a seasonally-adjusted annual rate of 4.72 million in June: 
“Existing-home sales rebounded at a record pace in June, showing strong signs of a market turnaround after three straight months of sales declines caused by the ongoing pandemic…Each of the four major … (2 comments)

5starrealtor: 2 Reasons SoCal Won’t See a Rush of Foreclosures This Fall - 07/22/20 04:42 PM
The health crisis we face as a country has led businesses all over the nation to reduce or discontinue their services altogether. This pause in the economy has greatly impacted the workforce and as a result, many people have been laid off or furloughed. Naturally, that would lead many to believe we might see a rush of foreclosures like we saw in 2008. The market today, however, is very different from 2008.
The concern of more foreclosures based on those that are out of work is one that we need to understand fully. There are two reasons we won’t see a rush … (2 comments)

5starrealtor: Are We Seeing A Remarkable Recovery In the SoCal Housing Market? - 07/21/20 03:46 PM
For months now the vast majority of Americans have been asking the same question: When will the economy turn around? Many experts have been saying the housing market will lead the way to a recovery, and today we’re seeing signs of that coming to light. With record-low mortgage rates driving high demand from potential buyers, homes are being purchased at an accelerating pace, and it’s keeping the housing market and the economy moving.
Here’s a look at what a few of the experts have to say about today’s astonishing recovery. In more than one instance, it’s being noted as truly remarkable.
Ali Wolf, Chief Economist, Meyers … (0 comments)

5starrealtor: SoCal, Thinking of Selling Your House? Now May be the Right Time - 07/20/20 06:26 PM
Inventory is arguably the biggest challenge for buyers in today’s housing market. There are simply more buyers actively looking for homes to purchase than there are sellers selling them, so the scale is tipped in favor of the sellers.
According to the latest Existing Home Sales Report from the National Association of Realtors (NAR), total housing inventory is down 18.8% from one year ago. Inventory is well below what was available last year, and the houses that do come to the market are selling very quickly.
Sam Khater, Chief Economist at Freddie Mac notes:
“Simply put, new housing supply is not keeping up with rising demand. We estimate that … (0 comments)

5starrealtor: SoCal Mortgage Rates Hit A Record Low for Third Consecutive Week - 07/17/20 09:14 AM
#SellYourHomeForMoreandPayLess, #TimeToSell #ChrisBJohnsonRealtor, #SellersPayZEROCommission
Over the past several weeks, Freddie Mac has reported the average 30-year fixed mortgage rate dropping to record lows, all the way down to 3.03%. Last week’s reported rate reached the lowest point in the history of the survey, which dates back to 1971 (See graph below):
What does this mean for buyers? This is huge for homebuyers. Those currently taking advantage of the increasing affordability that comes with historically low interest rates are winning big. According to Sam Khater, Chief Economist at Freddie Mac:
“The summer is heating up as record low mortgage rates continue to spur homebuyer demand.”
In addition, move.com notes:
“Summer home buying season is off … (0 comments)

 
Chris B Johnson REALTOR®, 5 Star Rated REALTOR® Quality, Not Quantity (Allison James Elite) Rainmaker large

Chris B Johnson REALTOR®

5 Star Rated REALTOR® Quality, Not Quantity

Moorpark, CA

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Allison James Elite

Address: 587 W. LOS ANGELES AVENUE, Moorpark, California, 93021

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Your Neighborhood Market Report Mortgage Pre Approval      Time To Buy A Home The Cost Of Waiting Chris B Johnson, REALTOR®, SFR®, CDPE®, CHS®Certified Distressed Property Expert,


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