fixandflip: Unemployment Rate Holds Steady at 15 percent-CALIFORNIA ECONOMIC FORECAST
- 05/29/20 11:43 AM
by Mark Schniepp and Ben Wright RePosted By #ChrisBJohnsonRealtor The U.S. unemployment rate was virtually unchanged last week after a sharp improvement during the week of May 16th. There are now only 575 counties that are still shut down, and these counties account for less than 15 percent of nationwide GDP. Just a month ago, the 2,600 counties that were shut down represented 30 percent of GDP. The reopening process, along with PPP loans and other fiscal/Fed support, have brought millions of people back to work and put the economy into rebound mode. The California job market is also improving, but there is considerable uncertainty about the … (2 comments)
fixandflip: Most Economists Forecast Recovery to Begin in the Second Half of 2020
- 05/28/20 08:29 AM
With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin to recover? While no one knows exactly how a rebound will play out, expert economists around the country are becoming more aligned on when the recovery will begin. According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see graph below):There seems to be a growing consensus among these experts … (3 comments)
fixandflip: Are You Buying or Selling YOUR Home? You Need an Expert Kind of Guide
- 05/27/20 11:53 AM
In a normal housing market, whether you’re buying or selling a home, you need an experienced guide to help you navigate through the process. You need someone you can turn to who will tell you how to price your home correctly right from the start. You need someone who can help you determine what to offer on your dream home without paying too much or offending the seller with a low-ball offer. We are, however, in anything but a normal market right now. We are amid one of the greatest health crises our nation has ever seen. The pandemic has had … (0 comments)
« Interest Rates Hover Near Historic All-Time Lows [INFOGRAPHIC] The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your … (3 comments)
fixandflip: FSBO? DIY? SIX Reasons Why Selling Your House on Your Own Is a Mistake
- 05/20/20 08:39 AM
There are many benefits to working with a real estate professional when selling your house. During challenging times like the one we face today, it becomes even more important to have an expert help guide you through the process. If you’re considering selling on your own, known in the industry as a For Sale By Owner or FSBO, please consider the following:1. Your Safety Is a PriorityDuring this pandemic, your family’s safety comes first. When you FSBO, it is incredibly difficult to control entry into your home. A real estate professional will have the proper protocols in place to protect not only your belongings, but your … (2 comments)
fixandflip: So Cal Housing Market Positioned to Bring Back the Local Economy
- 05/19/20 01:50 PM
All eyes are on the American economy. As it goes, so does the world economy. With states beginning to reopen, the question becomes: which sectors of the economy will drive its recovery? There seems to be a growing consensus that the housing market is positioned to be that driving force, the tailwind that is necessary. Some may question that assertion as they look back on the last recession in 2008 when housing was the anchor to the economy – holding it back from sailing forward. But even then, the overall economy did not begin to recover until the real estate market started to … (2 comments)
fixandflip: Crystal Ball Predictions-Will the Housing Market Turn Around This Year?
- 05/14/20 08:36 AM
Today, many people are asking themselves if they should buy or sell a home in 2020. Some have shifted their plans or put them on hold over the past couple of months, and understandably so. Everyone seems to be wondering if the market is going to change and when the economy will turn around. If you’re trying to figure out what’s going to happen and how to play your cards this year, you’re not alone. This spring in the 2020 NAR Flash Survey: Economic Pulse, the National Association of Realtors (NAR) has been tracking the behavior changes of homebuyers and sellers. In a reaction to their … (0 comments)
fixandflip: Back To The Burbs? A Surprising Shift to the ‘Burbs May Be on the Rise
- 05/13/20 11:39 AM
While many people across the U.S. have traditionally enjoyed the perks of an urban lifestyle, some who live in more populated city limits today are beginning to rethink their current neighborhoods. Being in close proximity to everything from the grocery store to local entertainment is definitely a perk, especially if you can also walk to some of these hot spots and have a short commute to work. The trade-off, however, is that highly populated cities can lack access to open space, a yard, and other desirable features. These are the kinds of things you may miss when spending a lot of … (0 comments)
fixandflip: Why Home Equity Is a Bright Spark in the Housing Market
- 05/06/20 01:50 PM
Given how we have seen more unemployment claims than ever before over the past several weeks, fear is spreading widely. Some good news, however, shows that more than 4 million initial unemployment filers have likely already found a new job, especially as industries such as health care, food and grocery stores, retail, delivery, and more increase their employment opportunities. Breaking down what unemployment means for homeownership, and understanding the significant equity Americans hold today, are important parts of seeing the picture clearly when sorting through this uncertainty. One of the biggest questions right now is whether this historic unemployment rate will initiate … (0 comments)
fixandflip: Selling? Rise 2 the Top of the Inventory Pool by Listing Your House Today
- 04/28/20 09:28 AM
With the release of the latest Economic Pulse Flash Survey from the National Association of Realtors (NAR), results show that people selling their houses today are holding strong on price. According to the most recent data, 74% of real estate agents noted that sellers are not dropping listing prices to attract more buyers. Lawrence Yun, Chief Economist at NAR, noted: “The housing market faced an inventory shortage before the pandemic. Given that there are even fewer new listings during the pandemic, home sellers are taking a calm approach and appear unwilling to lower prices to attract buyers during the temporary disruptions to the economy.” This inventory shortage, which spread widely throughout … (2 comments)
fixandflip: COVID19 and It's Impact on SoCal Home Values
- 04/27/20 09:54 AM
Sell Your Home For More and Pay Less Using A 5 Star Rated Realtor A big challenge facing the housing industry is determining what impact the current pandemic may have on home values. Some buyers are hoping for major price reductions because the health crisis is straining the economy. The price of any item, however, is determined by supply and demand, which is how many items are available in relation to how many consumers want to buy that item. In residential real estate, the measurement used to decipher that ratio is called months supply of inventory. A normal market would have 6-7 months of inventory. Anything over seven … (4 comments)
fixandflip: In the Search for Economic Recovery Timetable, Uncertainty Abounds
- 04/23/20 08:56 AM
Earlier this week, we discussed how most projections from financial institutions are calling for a quick V-shaped recovery from this economic downturn, and there’s research on previous post-pandemic recoveries to support that expectation. In addition, we noted how there are some in the business community who believe we may instead be headed for a U-shaped recovery, where the return to previous levels of economic success won’t occur until the middle of next year. Yesterday, Reuters released a poll of U.S. and European economists which revealed that most surveyed are now leaning more toward a U-shaped recovery. Here are the results of that poll: Why the disparity in … (2 comments)
fixandflip: Virtual Keys to Selling Your House Virtually
- 04/22/20 01:36 PM
In a recent survey by realtor.com, people thinking about selling their homes indicated they’re generally willing to allow their agent and some potential buyers inside if done under the right conditions. They’re less comfortable, however, hosting an open house. This is understandable, given the health concerns associated with social contact these days. The question is, if you need to sell your house now, what virtual practices should you use to make sure you, your family, and potential buyers stay safe in the process? In today’s rapidly changing market, it’s more important than ever to make sure you have a digital game plan and … (2 comments)
fixandflip: RECOVERY! Will This Economic Crisis Have a V, U, or L-Shaped Recovery?
- 04/21/20 09:03 AM
Many American businesses have been put on hold as the country deals with the worst pandemic in over one hundred years. As the states are deciding on the best strategy to slowly and safely reopen, the big question is: how long will it take the economy to fully recover? Let’s look at the possibilities. Here are the three types of recoveries that follow most economic slowdowns (the definitions are from the financial glossary at Market Business News): V-shaped recovery: an economic period in which the economy experiences a sharp decline. However, it is also a brief period of decline. There is a clear bottom … (2 comments)
fixandflip: Unemployment Pains: It Will Be Deep, But Not for Long
- 04/20/20 04:08 PM
There are two crises in this country right now: a health crisis that has forced everyone into their homes and a financial crisis caused by our inability to move around as we normally would. Over 20 million people in the U.S. became instantly unemployed when it was determined that the only way to defeat this horrific virus was to shut down businesses across the nation. One second a person was gainfully employed, a switch was turned, and then the room went dark on their livelihood. The financial pain so many families are facing right now is deep. How deep will the … (3 comments)
fixandflip: This SoCal Housing Market May Weather Coronavirus Impact Better Than the Great Recession
- 04/17/20 09:07 AM
As we are all too aware, the coronavirus outbreak has taken hold of the domestic and global economy. The housing market is not immune to its impact but may be in a better position than many believe. Recent data shows that weekly unemployment claims soared to a record, which will, in turn, work to depress household incomes and consumer confidence. While mortgage rates have fallen due to the economic uncertainty, potential home buyers that are confined to their homes cannot necessarily take advantage of the affordability boost. Many still bear scars from the Great Recession and may expect the housing market to follow a similar … (2 comments)
fixandflip: OK....What If I Need to Sell My Home Now? What Can I Do?
- 04/14/20 12:49 PM
Every day that passes, people have a need to buy and sell homes. That doesn’t stop during the current pandemic. If you’ve had a major life change recently, whether with your job or your family situation, you may be in a position where you need to sell your home – and fast. While you probably feel like timing with the current pandemic isn’t on your side, making a move is still possible. Rest assured, with technology at your side and fewer sellers on the market in most areas, you can list your house and make it happen safely and effectively, especially when following … (0 comments)
fixandflip: Tracking The Ventura County Real Estate Market, #TimeToBuy
- 04/13/20 03:10 PM
Tracking Residential Real Estate Weeklyby Mark Schniepp and Ben Wright April 3, 2020 Just as the spring selling season was about to begin, the real estate market was hit by the Coronavirus recession. What do the direct impacts of COVID-19 mean for the housing market? As of April 1st, listings of California single-family homes were down 33 percent on a year-over-year basis. It appeared that listings were beginning to increase in February and early March, but turned sharply downward almost immediately after the Trump Administration declared a national emergency on March 13th. Showings are also down, having fallen by 65 percent from the beginning of … (2 comments)
fixandflip: Roughly 30 Million People are Now Effectively Unemployed
- 04/10/20 04:34 PM
by Mark Schniepp and Ben Wright April 9, 2020 The U.S. unemployment rate climbed to 17.3 percent during the week ending April 4th, an astonishing development that has surpassed all but the most extreme expectations. Since mid-March, there have been 17 million initial claims for unemployment insurance, almost half of the total throughout the entirety of the 2008-2009 recession. We estimate that there are now at least 28 million people who are effectively unemployed, but the actual figure could be higher. We keep discussing this situation as unmatched, unparalleled, and unprecedented, because there’s really no other way to describe it. The unemployment rate has risen … (2 comments)
fixandflip: What You Can Do to Get Your House Ready to Sell [INFOGRAPHIC]
- 04/10/20 03:09 PM
Some Highlights: Believe it or not, there are lots of things you can do to prep your house for a sale without even going to the store. Your real estate plans don’t have to be completely on hold even while we’ve hit the pause button on other parts of daily life. Tackling small projects from cleaning the corners you may normally skip to tidying up your yard are easy and necessary wins if you’re thinking of listing your house and making a move. « Why Home Office Space Is More Desirable Than Ever What is My Home Worth? To Get A … (0 comments)
by Mark Schniepp and Ben Wright
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