firsttimehomebuyers: SoCal's Latest Unemployment Rate Falls to 8.4%
- 09/09/20 02:12 PM
Last Friday, the Bureau for Labor Statistics released their Employment Report for August 2020. The big surprise was that the unemployment rate fell to 8.4%, a full percent lower than what many analysts had forecasted earlier in the week. Though it is tough to look at this as great news when millions of Americans are still without work, the number of unemployed is currently much lower than most experts had projected it would be just a few months ago. Not Like the Great Depression or Even the Great Recession Jason Furman, Professor of Practice at Harvard explained: “An unemployment rate of 8.4% is much lower than most anyone would … (2 comments)
« The 2020 Homebuyer Wish List [INFOGRAPHIC]Have You Ever Seen a Housing Market Like This? » The Dangers of Deferred Maintenance It’s Not Just About the Price of the Home Three Ways to Win in a Bidding War Ask a Pro About Buying a Home [INFOGRAPHIC] Blog Archive What is My Home Worth? To Get A Market SnapShot Click Here . The information contained, and the opinions expressed, in this article are not intended to be … (0 comments)
firsttimehomebuyers: The 2020 SoCal Homebuyer Wish List [INFOGRAPHIC]
- 09/08/20 02:23 PM
Some Highlights The word “home” is taking on a whole new meaning this year, and buyers are starting to look for new features as they re-think their needs and what’s truly possible. From more outdoor space to virtual classrooms for their children, buyers have a growing list of what they’d like to see in their homes. Let’s connect today if your needs have changed and your wish list is expanding too. « Homebuyer Demand Is Far Above Last Year’s PaceThank You, Essential Workers » https://chrisbjohnsonrealtor.allisonjamesinc.com/ask/f3dbcb3921f86f5ee5557c696489bc96 https://youtu.be/p4-VfR1DJNA https://youtu.be/CRCXLh4EycU https://www.ratemyagent.com/real-estate-agent/chris-b-johnson-xu316/reviews http://www.VCNeighborhoodValues.com http://www.ChrisBJohnsonRealtor.AllisonJamesInc.com/blog.php http://www.ChrisBJohnsonRealtor.AllisonJamesInc.com/ https://ajirealestate.com/chris-johnson/ http://my.flexmls.com/ChrisBJohnsonRealtor https://www.idealestate.co/profile/76080/profile https://www.simplifyingthemarket.com/en/?a=97822-26df5ea08f8689012df0225866ae0bf1 https://www.linkedin.com/today/author/chrisbjohnson https://www.linkedin.com/in/chrisbjohnson/detail/recent-activity/posts/ https://www.linkedin.com/pro/chrisbjohnson http://www.linkedin.com/in/chrisbjohnson https://activerain.com/profile/chrisbjohnson https://activerain.com/blogs/chrisbjohnson https://www.youtube.com/c/ChrisBJohnsonRealtor … (0 comments)
firsttimehomebuyers: SoCal Homebuyer Demand Is Far Above Last Year’s Pace
- 09/08/20 02:07 PM
Homebuying has been on the rise over the past few months, with record-breaking sales powering through the market in June and July. Buyers are actively purchasing homes, and the momentum is continuing into the fall. It is, however, becoming harder for buyers to find homes to purchase. If you’ve been thinking about selling your house, the coming weeks might just be the timing you’ve been waiting for. According to the Pending Home Sales Report from the National Association of Realtors (NAR): “Pending home sales in July achieved another month of positive contract activity, marking three consecutive months of growth. The Pending Home Sales Index (PHSI), a forward-looking … (2 comments)
firsttimehomebuyers: SoCal Home Values-How Will the Presidential Election Impact SoCal Real Estate?
- 09/02/20 09:03 AM
The year 2020 will be remembered as one of the most challenging times of our lives. A worldwide pandemic, a recession causing historic unemployment, and a level of social unrest perhaps never seen before have all changed the way we live. Only the real estate market seems to be unaffected, as a new forecast projects there may be more homes purchased this year than last year. As we come to the end of this tumultuous year, we’re preparing for perhaps the most contentious presidential election of the century. Today, it’s important to look at the impact past presidential election years have had on the real … (0 comments)
firsttimehomebuyers: It’s Not Just About the Price of the SoCal Home
- 09/01/20 01:48 PM
When most of us begin searching for a home, we naturally start by looking at the price. It’s important, however, to closely consider what else impacts the purchase. It’s not just the price of the house that matters, but the overall cost in the long run. Today, that’s largely impacted by low mortgage rates. Low rates are actually making homes more affordable now than at any time since 2016, and here’s why. Today’s low rates are off-setting rising home prices because it’s less expensive to borrow money. In essence, purchasing a home while mortgage rates are this low may save you significantly over the … (0 comments)
firsttimehomebuyers: 3 Ways to Win in a SoCal Home Bidding War
- 08/31/20 12:13 PM
With so few houses for sale today and low mortgage rates driving buyer activity, bidding wars are becoming more common. Multiple-offer scenarios are heating up, so it’s important to get pre-approved before you start your search. This way, you can put your best foot forward – quickly and efficiently – if you’re planning to buy a home this season. Javier Vivas, Director of Economic Research at realtor.com, explains: “COVID-19 has accelerated earlier trends, bringing even more buyers than the market can handle. In many markets, fierce competition, bidding wars, and multiple offer scenarios may be the common theme in the weeks to come.” Here are three things you can … (0 comments)
firsttimehomebuyers: Are We On Borrowed time with Current Mortgage Rates??
- 08/29/20 03:22 PM
#TimeToBuy, #FirstTimeHomeBuyers, #MoveUpHomeBuyers, #5StarREALTOR, #ChrisBJohnsonREALTOR href="https://chrisbjohnsonrealtor.allisonjamesinc.com/ask/f3dbcb3921f86f5ee5557c696489bc96">#SellYourHomeForMoreandPayLess, #TimeToSell #ChrisBJohnsonRealtor, #SellersPayZEROCommission, #ListYourHomeAndPayNoCommission, #BetterThanFSBO, #5StarREALTOR®, #FixandFlip, #RealEstateInvestor, #TopProducer, #AJIBoom, #XomeAgentNetwork, #BidOnHomes, #ShortSaleSpecialist, #REOSpecialist, #363benttwig #290epennst #709OrchardSt #958BretonSt
firsttimehomebuyers: The SoCal Cost of Renting Vs. Buying a Home [INFOGRAPHIC]
- 08/28/20 05:05 PM
Some Highlights The percentage of income needed to afford a median-priced home today is declining, while that for renting is on the rise. This is making buying a home an increasingly attractive option for many people, especially with low mortgage rates driving purchasing power. Let’s connect if you’d like expert guidance on exploring your homebuying options while affordability is high. « Why Is It so Important to Be Pre-Approved in the Homebuying Process? The Top Reasons People Are Moving This Year
« Ask a Pro About Buying a Home [INFOGRAPHIC] Blog Archive … (2 comments)
firsttimehomebuyers: SoCal Home Buyers Here Is Why It so Important to Be Pre-Approved in the Homebuying Process
- 08/27/20 04:59 PM
You may have heard that pre-approval is a great first step in the homebuying process. But why is it so important? When looking for a home, the temptation to fall in love with a house that’s outside your budget is very real. So, before you start shopping around, it’s helpful to know your price range, what you’re comfortable within a monthly mortgage payment, and ultimately how much money you can borrow for your loan. Pre-approval from a lender is the only way to do this. According to a recent survey from realtor.com, many buyers are making the mistake of skipping the pre-approval step in the homebuying process: … (3 comments)
firsttimehomebuyers: SoCal Home Buyers, Should You Buy an Existing Home or New Construction?
- 08/26/20 01:32 PM
#RealEstateRecovery #TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR,#HyperLocal, #ChrisBJohnsonREALTOR,#TopProducer We believe every family should feel confident when buying and selling a home. Finding the right home to purchase today is one of the biggest challenges for potential buyers. With so few homes for sale and construction of newly built homes ramping up, you may be wondering if you should consider new construction in your search process. It’s a great question to ask, and one to look at from the pros and cons of what it means to buy a new home versus an existing one. Here are a few things to consider when making the best decision for your family. New Construction When buying a new home, … (2 comments)
firsttimehomebuyers: Is It Time To Move-Up? Top Reasons SoCal Is Moving This Year
- 08/24/20 10:18 AM
Buying power for those shopping for a home is up 10% Today, Americans are moving for a variety of different reasons. The current health crisis has truly re-shaped our lifestyles and our needs. Spending extra time where we currently live is enabling many families to re-evaluate what homeownership means and what they find most important in a home. According to Zillow: “In 2020, homes went from the place people returned to after work, school, hitting the gym or vacationing, to the place where families do all of the above. For those who now spend the majority of their hours at home, there’s a … (2 comments)
firsttimehomebuyers: A Slight Rise in SoCal Mortgage Rates Won’t Hurt Home Buyers
- 08/22/20 12:57 PM
#TimeToBuy,#FirstTimeHomeBuyers,#MoveUpHomeBuyers,#5StarREALTOR,#HyperLocal, #ChrisBJohnsonREALTOR,#TopProducer,#FlipandFix,#RealEstateInvestor,#RentalProperties, #BoomerageBuyers,#MultiGenerationalBuyers,#AJIBoom,#FindYourDreamHome,#PreApproval
Mortgage rates inched up this week, but the 30-year fixed-rate mortgage continues to hover near its record low. The uptick isn't expected to have any impact on homebuying activity, according to the National Association of REALTORS®. The 30-year fixed-rate mortgage averaged 2.99% this week after hitting an all-time low of 2.88% at the beginning of the month, Freddie Mac reports. Home buyer demand continues to accelerate and is providing support to an otherwise stagnant economy, says Sam Khater, Freddie Mac’s chief economist. Further, a surge in home sales has led to a rapid increase in demand for remodeling … (1 comments)
firsttimehomebuyers: You Should Ask a SoCal Pro About Buying a Home [INFOGRAPHIC]
- 08/21/20 02:22 PM
We believe every family should feel confident when buying and selling a home! Some Highlights According to trending data, searches for key real estate topics are skyrocketing online. Clearly, lots of people have questions about buying a home, and other topics related to the process. Working with a trusted real estate professional will help you create the most personalized and helpful experience. Let’s connect so you have the guidance you need along the way. « Forbearance Numbers Are Lower than Expected Just How Strong Is the Housing Recovery? Sellers Are Returning to the Housing Market The Beginning of an Economic Recovery Ask … (0 comments)
firsttimehomebuyers: SoCal Mortgage Rates & Payments by Decade [INFOGRAPHIC]
- 08/17/20 11:59 AM
Some Highlights Sometimes it helps to see the dollars and cents you’ll save when you purchase a home while mortgage rates are low. Today’s low rates mean it’s less expensive to borrow money, so the savings over the life of your loan is significant. Let’s connect to determine the best way to position your family for a financially-savvy move in today’s market. « Homes Are More Affordable Right Now Than They Have Been in YearsThe Beginning of an Economic Recovery » What is My Home Worth? To Get A Market SnapShot Click Here . Facebook Badge Chris B Johnson Ask … (0 comments)
firsttimehomebuyers: 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)
firsttimehomebuyers: 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)
firsttimehomebuyers: 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)
firsttimehomebuyers: 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 … (3 comments)
firsttimehomebuyers: SoCal Buyers: Are You Ready for a Bidding War?
- 07/13/20 02:33 PM
With businesses reopening throughout the country and some experts indicating early signs of a much-anticipated economic recovery, more homebuyers are actively entering the housing market this summer. Today, housing is truly driving the U.S. economy forward. With so many buyers looking for homes to purchase and so few houses for sale right now, there’s a disconnect between supply and demand. This imbalance is pushing home prices upward while driving more bidding wars and multiple-offer scenarios. Danielle Hale, Chief Economist at realtor.com explains: “People are surprised that prices are rising, not falling, because in the last recession home prices fell, the difference this time is the severe shortage of homes … (0 comments)
Last Friday, the Bureau for Labor Statistics released their Employment Report for August 2020. The big surprise was that the unemployment rate fell to 8.4%, a full percent lower than what many analysts had forecasted earlier in the week. Though it is tough to look at this as great news when millions of Americans are still without work, the number of unemployed is currently much lower than most experts had projected it would be just a few months ago.
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