Are You Ready to Ride the Next Wave?


The market may be changing. Are you ready to ride the wave or should you sell now before it is too late?


Today I would like to look at how the market is and if you are ready to ride the wave. Of course, when I ask if you are ready to ride the wave, I am not talking about surfing in the ocean—I’m asking if you are ready to stay in your home for the next two to four years.

Recently I have been making a lot of calls to my past clients, current clients, friends, and family to update them on what is going on in the market. There are three key indicators I have been looking at:

1. Days on market. The average time it takes to sell is going up.
2. Inventory. The number of homes available for sale is going up.
3. Interest rates. Much like the other two indicators, interest rates are rising and buyers are concerned that they will not be able to buy a home.

We have been following these indicators for the last four or five weeks and have noticed now that we are seeing signs of a shift coming soon. However, this does not mean that the market is not great and that if you list your home this week, you will not get multiple offers.

Let me explain. Usually we see a shift happen in the higher price points first. To know the higher price point of a certain area, you need to know what that area’s average price point is first.

If you are not prepared to stay, you should know that your home may not be worth as much in the next year.

Let's say you are looking to sell in Irvine and the average price point is $850,000. Those homes are still selling quickly depending on how they look and how they are priced. Homes that are priced lower are selling even quicker. That is a very aggressive market.

Homes in Irvine that are priced between $1.5 million and $4 million, however, are taking a lot longer to sell. In this area, we’re starting to see those three indicators I mentioned above.

Over time, that trend will trickle down into the average and lower price points until everything is taking a little longer to sell, or maybe not sell for the best price.

This is when we will see the market shift from the strong seller's market that we have had for the past seven years to potentially a flat market or a buyer's market.

Right now is one of the best selling seasons we’ve ever experienced. In six to nine months though, this shift will start to affect average home prices. If you are not prepared to stay in your home for the next two to four years, you should know that your home may not be worth as much in the next year. You will have to sit and stay in your home until the market balances and starts going back up.

To decide if now is the right time for you to sell, think about your current situation and ask yourself if you can wait. If you think you are ready, please feel free to reach out to me and give me a call or send me an email. I would love to help you in any way that I can.
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Location: Orange County, CA, USA

Are Expensive Home Renovations Worth It?

A lot of things can go wrong if you choose to upgrade your home right before selling it. Here’s what we recommend doing instead.


You may have tried to sell your home in the past and were ultimately unsuccessful. Maybe the listing agreement expired with your agent, or you got frustrated and canceled it.

I talk to a lot of people who have been through a situation like this, and I get a lot of different feedback. However, lately I’ve been hearing from homeowners that they are going to take their home off the market, make some upgrades, and relist it.

When somebody tells me that, I ask this question in response: “When you relist the home, are you going to relist it at a higher price so you can recover those funds?” The answer is always yes. 

However, this is a big concern for me. In my experience, upgrades can certainly add value to a property, but if you upgrade just prior to listing your home, you’re probably not going to get back what you put in. If you spend $50,000 on upgrades, you’ll be lucky to get $45,000 back.

Repositioning your home won’t break the bank.

The process might take longer than expected, and you might end up listing your home in a market that’s not as strong, or maybe the buyer will hate your upgrades-I’ve seen a lot of things go wrong before.

If you tried to sell your home and were unsuccessful, l recommend that you shift your focus from upgrading the property to repositioning it to get the right buyer and the right price. Repositioning your home means preparing your property to sell for the highest and best price without breaking the bank. Maybe you need to repaint, put in new carpet, or stage the home because it’s vacant.

If you’re in a situation like this, hold off on the upgrades for now. Spend some time, money, and effort on repositioning the home instead. My team and I specialize in this method. We want to attract the right buyer at the right time for the highest and best price without spending money that we know we won’t recover.

If you have any questions for me in the meantime or you or someone you know could use our help, give us a call or send us an email today. We look forward to hearing from you soon.
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Location: Orange County, CA, USA

You Will Regret It if You Wait to Buy

 
Why is buying a home such a smart decision in today’s market? I’m going to explain today.


If you’re currently looking for a home to buy, I’ve got some great news for you today. I remember back in 2015 when I was talking to a potential homebuyer who felt that he was going to be paying too much for his property. At the time, he was hesitant but still decided to pull the trigger.

These days, he is very grateful that he bought at that point because the home is worth 15% more now than it was when he bought it. He may have paid a premium for the property, but he’s already made that back and then some. Instead of paying rent for those three years, he’s been able to invest in his own mortgage and see the appreciation for himself. Three years later, the situation is similar in our market.

We’d be happy to connect you with a lender who can assist you.

You might pay a premium for a home now, but you’ll find that it’s a great deal in a few years. My mentor used to tell me that “The best deal is the home that you can afford to buy right now.”

If you’re a homebuyer and you’re looking to buy a property or you’ve been renting for a long time, talk to a lender today and figure out what it will take to buy a property. If you can afford it and it’s within your comfort zone, it’s time to pull the trigger. The home appreciation and tax benefits alone make it a worthwhile investment.

If you have any questions for me about buying a home or anything else related to real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.

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Location: Orange County, CA, USA

Why Is Right Now the Best Time to Sell?

 
There has never been a better time to sell your home in the last decade. Here’s why.


If you’re a home seller or a homeowner who is curious about selling, there is no better time to sell than now. Here’s why.

Our current market is that we are currently in is one of the strongest seller's markets I’ve ever experienced. The inventory is still very low, interest rates are still low, and there are way more buyers than there are homes for sale. This all may change in the next six months to a year, but homes are selling for a premium right now.

With the right marketing and pricing strategies, we might be able to sell your home for more than its market value.

The best advice I can give a homeowner who is thinking about selling their home is to interview a few different agents before you pull the trigger, so you can get a few different perspectives. Every agent is a little bit different, and each has a different way of handling the transaction.

What a home is currently worth in the market right now is not necessarily what we could sell it for. With the right marketing and pricing strategies, you can squeeze out even more money than you think. A lot of homes that we’ve been listing have been selling for above market value because of our strategy.

If you’re thinking about selling your home or know someone who is, don't hesitate to reach out and give me a call or send me an email with any questions. I would love to hear from you soon and I’d be happy to answer them.


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