topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: 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)

topproducer: SoCal Sellers, Does Your Home Have What Buyers Are Looking For? - 07/16/20 09:13 AM
There’s great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. According to Javier Vivas, Director of Economic Research at realtor.com:
“Sellers continue returning to the market at a cautious pace and further improvement could be constrained by lingering coronavirus concerns, economic uncertainty, and civil unrest.”
For homeowners who need a little nudge of motivation to get back in the game, it’s good to know that buyers are ready to purchase this season. After spending several months at home and re-evaluating what they truly … (2 comments)

topproducer: 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)

topproducer: SoCal STILL Ranks Real Estate Best Investment for 7 Years Running - 07/11/20 11:33 AM
Some Highlights Real estate has outranked stocks, savings accounts, and gold as the best long-term investment among Americans for the past 7 years. The belief in the stability of housing as a long-term investment remains strong, despite the many challenges our economy faces today. Of the four listed, real estate is also the only investment you can also live in. That’s a big win!  
« Not All Agents Are Created Equal 
Best Time to Sell? When Competition Is at an All-Time Low Taking Advantage of Homebuying Affordability in Today’s Market  Latest Unemployment Report: Great News…for the Most Part America Is Another Name for Opportunity … (3 comments)

topproducer: SoCal-Not All REALTORS Are Created Equal-Choose Wisely!! - 07/09/20 09:11 AM
In today’s fast-paced world where answers are just a Google search away, there are some who may question the benefits of hiring a real estate professional when selling a house. The reality is, the addition of more information can lead to more confusion. A real estate agent can be your essential guide, but truth be told, not all agents are created equal. Finding the right agent for you and your family should be your top priority when you’re ready to sell your house.
The right agent is the person who can truly walk you through the whole process, look out for … (0 comments)

topproducer: Best Time to Sell In SoCal? When Competition Is at an All-Time Low - 07/08/20 11:54 AM
In a recent survey of home sellers by Qualtrics, 87% of respondents said they were concerned their home won’t sell because of the pandemic and resulting economic recession. Of the respondents, 51% said they are “seriously worried.” That concern seems reasonable considering the current condition of the economy. The data, however, is showing that home purchasers are still very active despite the disruptions American families have experienced this year.
The latest Existing Home Sales Report published by the National Association of Realtors (NAR) revealed that 340,000 single-family homes sold in this country last month. NAR’s most recent Pending Sales Report (homes going into contract) surpassed last month’s number by over 44%, … (0 comments)

topproducer: Taking Advantage of Homebuying Affordability in Today’s Market - 07/07/20 05:16 PM
Everyone is ready to buy a home at different times in their lives, and despite the health crisis, today is no exception. Understanding how affordability works and the main market factors that impact it may help those who are ready to buy a home narrow down their optimal window of time to make a purchase.
There are three main factors that go into determining how affordable homes are for buyers:
Mortgage Rates Mortgage Payments as a Percentage of Income Home Prices The National Association of Realtors (NAR), produces a Housing Affordability Index, which takes these three factors into account and determines an overall affordability … (0 comments)

topproducer: Real-Time Economic Data is Becoming More Worrisome - 07/07/20 10:58 AM
by Mark Schniepp and Ben Wright
July 2, 2020
The June labor market report form the BLS showed millions of job gains and a falling unemployment rate. The improvement in June occurred as total employment increased by 4.8 million jobs, the largest monthly gain in job creation in the history of recorded data.
The increase is due principally to the resumption of businesses opening during the last half of May and early June throughout the nation.
But monthly data has become a lagging indicator and does not always capture current economic conditions.
As we reported last week, we are becoming increasingly concerned about the outlook for … (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

More about me…

Allison James Elite

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

Mobile: 805.208.0823

Email Me

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,


Listings

Links

Archives

RSS 2.0 Feed for this blog