Our Current Market Wildly Contrasts From Q4 2018


Is the market giving us a head fake? Find out what I mean right here.

Is the market giving us a head fake? Before I can answer this question, I should first explain what I mean by ‘head fake.’

If you had talked to me in the late summer/early fall of 2018, I would have said that home prices are falling. In fact, we hit such a lull in the fourth quarter that I was very curious about how the 2019 market would play out. We had seen such a massive shift in not only the number of home sales, but also how long they were taking to sell. At the time, it didn’t look so hot.

But the good news is that in February, we started to see a little bit of a pickup. The inventory for great homes was very limited—yes, there were a lot of homes on the market, but many were overpriced and/or didn’t show well. Homes that were fairly priced and showed well were just flying off the market.

We see prices continuing to rise, and my team and I believe that homes will continue to appreciate through 2019 and maybe even through 2020.

Now, with interest rates being at a 14-month low and employment as strong as it is, we’re actually starting to see the market pick up steam. In fact, the last three homes that my team and I have sold, some of which had been listed with another agent, sold with multiple offers within a week. On top of that, those homes sold for more than what each of the prior homes sold for. This just wasn’t happening in the fourth quarter of last year.

So is our market going through a head fake? I think so. We see prices continuing to rise, and my team and I believe that homes will continue to appreciate through 2019 and maybe even through 2020.

If you’re a seller who tried to sell in the last quarter of 2018 but didn’t have a great experience, my team and I are experts at relisting, rebranding, and selling homes that were previously listed on the market and failed to sell. Reach out to us—we’d love the opportunity to help you succeed in the market this time around. Until then: Happy selling!
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Location: Irvine, CA, USA

Is It Better to Buy Now or Wait?


Should you buy now, or should you wait?

Homebuyers: Is now the time to buy, or are you better off waiting? This is a tough question, and the answer to it depends on the client.

In fact, every time we get in touch with a new buyer that we’ll potentially work with, we have a 30- to 40-minute face-to-face meeting in our office. This gives the buyer the opportunity to see if we’re the right fit for them as their agent, and gives us the opportunity to learn more about them: What are they looking for? What gets them excited about a house? What’s their price range? How will their life change if we find for them what they want?

During that time, we can really come to understand whether or not it’s the right time for that client to buy. If you’ve never been in contact with us, we can’t really give you the best advice to help answer this question. That said, I’ll do my best in a general sense.

The market is currently giving us a little bit of a head fake. Had you asked me what was going on in the market in August of last year, I would have said that prices are flattening out or falling in many areas, and that we’re starting to see signs of a shift toward a more normalized market where homes will still sell for fair prices, but we won’t see these massive 10% to 15% appreciation rates year over year.

If you know that you want to buy in the next one or two years, buying now will likely result in you getting the lowest monthly payment.

About a month ago, however, we noticed yet another shift. Buyers are starting to feel comfortable with the new market norms, and with interest rates being at a 14-month low and employment as strong as it is, we’re actually starting to see home prices rise. In fact, the last three homes that my team and I have sold actually sold for not just above asking price, but also more than the last home sold.

So, if you’re a buyer who is waiting for prices to fall or are concerned that the market is going to crash (causing you to hesitate on the market), you may find yourself waiting longer than you expected. It is my personal opinion that we’ll see the market consistently appreciate year over year in the Orange County/Los Angeles area for the next one to three years.

Ultimately, the questions for those who are considering waiting are: Do you want to buy a home? And, more importantly, can you afford to buy? How long can you wait before buying?

If you know that you want to buy in the next one or two years, buying now will likely result in you getting the lowest monthly payment. But again, every situation is examined on a case-by-case basis. Generally speaking, though, if you’re thinking about buying, it may be a good idea to do so sooner than later, or you risk paying more over time.

For those who are thinking of buying a home and would profit from a face-to-face conversation with my team and me, feel free to reach out to us. We can learn more about each other and better illuminate whether or not now is the right time for you to get out in the market.
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Location: Irvine, CA, USA

The Truth About Redfin and Limited-Service Brokerages?


When it comes to buying a home, should you use Redfin or us?

In the past, I’ve always discounted Redfin, thinking that they’re devaluing our industry and undercutting other agents. However, as I’ve learned more about their models and approaches, I’ve realized that they actually do fill a gap in the industry for a particular type of clientele. The difference between Redfin and Realtors like me is the type of clients we serve.

To illustrate, let’s look at a Redfin review that I found online. The person gave Redfin five stars, the highest rating they could possibly give them. But when you read the person’s review, you start to learn a little more about how the company operates:

“I think that Redfin is a great option for millennials and not such a great option for other generations. First of all, the millennial generation uses the internet heavily and we like to do things by ourselves. Redfin has a no hand-holding approach and mostly does all the paperwork for you. You can go on practically unlimited home searches and tour all these properties without feeling pressured. Why? Because Redfin has separate touring agents that handle the touring for you. Then you have your assigned agent who does the negotiations and paperwork. Your assigned agent, however, does not do any hand-holding, so be prepared to do a lot of research on buying a home—meaning you should be hyper-aware of what to look for when buying a home because no one will tell you.”

This review really shed some light on how Redfin operates; it’s a little like hiring a financial planner instead of using eTrade, or hiring a travel agent instead of going to Expedia, Travelocity, or Kayak.

If my clients can’t manage their extracurriculars on top of doing all the research necessary to buy or sell a home, then I would say that no, Redfin is probably not the right option for them.

Nowadays, these sites allow people to do things on their own, and if you’re savvy and do your research, you may be able to get a great deal out of it.

However, if you do that, you’ll be spending a lot of your own time trying to figure it all out. Many people who aren’t savvy with the internet may actually end up spending more or having it cost them more than if they would have hired a professional.

Whether you’re a buyer or seller, you need to ask yourself, “What am I looking for?” When I talk to my clients about Redfin, I often tell them that if they hire Redfin or a similar limited-service brokerage, they’ll have to be very hands-on, doing much of the work on their own. Alternatively, they can hire me and my team, paying us slightly more, but they can still live their lives without having to do all this extra work.

If my clients can’t manage their extracurriculars on top of doing all the research necessary to buy or sell a home (including taking care of the pre-listing preparations in the event they’re selling), then I would say that no, Redfin is probably not the right option for them.

If you have any questions about the buying or selling process or if you want to learn more about how we operate in comparison to a limited service brokerage, please don’t hesitate to reach out to me. Until that point: Happy selling!
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Location: Irvine, CA, USA

Looking at Our Market Through the Crystal Ball


How is our latest market, and what might the future hold? Let’s take a look.

When it comes to predicting the future of our market, I think everyone’s crystal ball is a bit foggy right now.

Last November, I would have told you that home prices would be flattening or falling. Though I’m seeing the same signs right now, top economists predict we’ll see a 3.6% year-over-year appreciation. There are a lot of factors that come into play, however, so it’s tough to tell. In some Orange County areas, home prices are going up and inventory is low. In other places, the opposite is true.

Economist Steve Harney actually believes we’ll be seeing appreciation rates of 4.6%, which is more than what was originally thought. So, what’s going on, exactly?

There’s no one-size-fits-all answer. Every homeowner, property, and market is unique. The only way you’ll truly know what your home is worth in our market is to connect with a local Realtor. They’ll have an in-depth knowledge of your area, and they’ll know exactly how to market and price your home correctly.

Every homeowner, property, and market is unique.

We’ve recently seen an 11% increase in home sales month over month. Now that we’re in spring, I think we’re going to see this trend continue. If you’re a buyer waiting for prices to fall, you could be waiting for something that will never happen. Interest rates are at a 14-month low, so your best bet is to make a purchase and secure a great rate now.

Is right now a good time to sell? Again, it depends on your situation. You may want to cash out now while the market’s hot, or you may want to wait and see what happens. Either way, it’s best to speak with a local real estate professional to find out what works for you.

If you’re looking to buy or sell or you have any questions, feel free to reach out to me. I look forward to hearing from you soon.
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Location: Irvine, CA, USA

Are You Too Busy to Interview Agents?


Even if you think you’re too busy to do so, taking the time to interview new agents after your first listing attempt failed is a must.

If you’ve ever tried and failed to sell your home, I probably don’t need to tell you that you need a new agent if you hope to succeed the next time around.

Unfortunately, it can be overwhelming to try to find someone for the job. You’ve probably been bombarded with phone calls from more agents than you can count claiming that they’re the best fit for you, so who should you choose? 
Before I explain how to handle this scenario, let me tell you what not to do. As I mentioned earlier, you should never relist with the same agent who failed you before.

I recently spoke with a woman who said she planned to do this, exactly, and my question to her was this: “What do you think your agent will do differently this time?”

The last thing you want to do when relisting is to fail again.

She, of course, didn’t have an answer for this. Her only reasoning was that she was simply too busy to find and interview new agents.

Don’t get me wrong: I understand what it’s like to be busy. But if it meant getting your home sold, wouldn’t it be worth finding just 30 to 45 minutes out of your day to interview new agents?

The bottom line is that if you’ve tried to sell in the past, interviewing two to four new agents will be essential to your future success. The last thing you want to do when relisting is to fail again.

If you are thinking of putting your home back on the market, don’t hesitate to reach out to my team and me. We’re experts in rebranding and relisting properties. We know what it takes to get sellers the best possible results.

As always, if you have any other questions or would like more information, feel free to give my team or me a call or send us an email. We look forward to hearing from you soon.
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Location: Irvine, CA, USA

Eliminate Regret by Taking Action


If you don’t want your buying or selling experience to end in regret, you need to take action.

In February of 2018, I met with a client who was so ready to sell her home that she would’ve done so the same day we spoke if possible.

The only thing that had been holding her back until that point was the fact that her friends and family had been saying to wait until summer. They told her that by doing so, she’d earn a better deal for her home.

When she relayed this to me, though, I explained something her friends and family probably didn’t consider. Summer may be a more active season for real estate, but this can actually work against those seeking to take advantage of the hot market conditions. Summer is actually the peak buying season—not the peak selling season.

Why? Well, if everyone thinks they should wait until summer to list, those who do list at that time will be facing a lot of competition. And the more homes there are on the market, the lower demand will be for your specific property.

To avoid regret, you must take action.

With this in mind, I told this client that by listing sooner, she’d almost certainly receive multiple offers and sell her home for far more than her asking price. Unfortunately, she chose to listen to the advice of her friends and family over mine.

We put her property on the market in June (per her request) and though we did everything we could to make it look like a model home, her shot at success was hindered by the high level of competition. The same week she listed her home, three other properties went up for sale in her neighborhood.

Our client’s home sat on the market for about 45 days and ultimately sold for $860,000. If she would have followed my advice, I’m confident we could have sold for close to $900,000.

When it comes to buying and selling a home, timing is everything. It’s important to take the advice of the agent you’ve hired, or plan on hiring, as you work toward your real estate goals. Doing so will help you maximize your success.

The bottom line is this: To avoid regret, you must take action.

If you have any other questions or would like more information, feel free to give me or my team a call or send us an email. We look forward to hearing from you soon.
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Location: Irvine, CA, USA

The Importance of Talking to a Lender Early On


Before you start your home search, you need to connect with a lender. This will be a critical step, as understanding your financial health is key to finding the perfect property.

Over 85% of all buyers start looking at homes before speaking with a lender. Unfortunately, this is the worst way you can go about a purchase.

Whether you’re actively preparing to buy a home or the desire to buy has just occurred to you, it’s never too soon to meet with a lender and talk about your goals.

Some buyers assume that by getting pre-approved, they’ll be put under pressure to buy right away. This isn’t the case at all. Talking with a lender and getting pre-approved will simply help guide your search and ensure that when you do find the perfect home, you’ll be ready to act. An opportunity to talk with a lender is an opportunity for you to educate yourself about your position as a buyer. And by having this conversation early, you’ll have additional time to improve your financial health if you don’t qualify right away.


An opportunity to talk with a lender is an opportunity for you to educate yourself about your position as a buyer.

By speaking with a lender, you’ll gain:

1. An understanding of what loan you should get.
 
2. An understanding of what you can afford.
 
3. An understanding of your current credit score.

4. An understanding of what your monthly payment will be.

There’s no cost or obligation associated with this meeting. Talking with a lender will simply help you strategize your upcoming home purchase.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.
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Location: Irvine, CA, USA
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