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Archive for the ‘Real Estate General News’ Category

5 Real Estate Reality

 

Have you ever been flipping through the channels, only to find yourself glued to the couch in an HGTV binge session? We’ve all been there, watching entire seasons of “Love it or List it,” “Million Dollar Listing,” “House Hunters,” “Property Brothers,” and so many more all in one sitting.

When you’re in the middle of your real estate themed show marathon, you might start to think that everything you see on TV must be how it works in real life, but you may need a reality check.

Reality TV Show Myths vs. Real Life:

Myth #1: Buyers look at 3 homes and decide to purchase one of them.
Truth: There may be buyers who fall in love and buy the first home they see, but according to the National Association of Realtors the average homebuyer tours 10 homes as a part of their search.  

Myth #2: The houses the buyers are touring are still for sale.
Truth: Everything is staged for TV. Many of the homes being shown are already sold and are off the market. 

Myth #3: The buyers haven’t made a purchase decision yet.
Truth: Since there is no way to show the entire buying process in a 30-minute show, TV producers often choose buyers who are further along in the process and have already chosen a home to buy. 

Myth #4: If you list your home for sale, it will ALWAYS sell at the open house.
Truth: Of course, this would be great! Open houses are important to guarantee the most exposure to buyers in your area but are only a PIECE of the overall marketing of your home. Keep in mind that many homes are sold during regular showing appointments as well. 

Myth #5: Homeowners decide to sell their homes after a 5-minute conversation.
Truth: Similar to the buyers portrayed on the shows, many of the sellers have already spent hours deliberating the decision to list their homes and move on with their lives/goals.

Bottom Line

Having an experienced professional on your side while navigating the real estate market is the best way to guarantee that you can make the home of your dreams a reality!

John Paul Ledesma, GRI | Broker Associate | HomeSmart Evergreen Realty| DRE 01810644 | 949-616-2988

 

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California August Sales 2018-aug_29144871

The California housing market is shifting with sales down and price growth decelerating on a year over year basis.  On a month to month basis prices have slightly decreased for a second consecutive month.  Buyers are hesitant to enter the market as many believe the market may have peaked.

The Southern California region sales declined the most among all regions, with a drop of 7.9 percent from last year, as median process increased on a year-over-year basis (for the month of August) for all counties.  With the school districts starting earlier in the year in many Southern California areas that is certainly a factor in the sales volume slow-down.

 

John Paul Ledesma, GRI | Broker Associate | HomeSmart Evergreen Realty| DRE 01810644 | 949-616-2988

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You read that right! First-time buyers across the country are getting creative when it comes to saving the necessary down payment to buy a home. (more…)

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What Does the Recent Rash of Price Reductions Mean to the Real Estate Market?

What we do know is that there have been many price reductions with some 14% of (more…)

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Competition is Coming

Click here to find your current home value.

The number of building permits issued for single-family homes is the best indicator of how many newly built homes will rise over the next few months. According to (more…)

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Dream Home 8 14 2018

The definition of one’s dream home changes between life stages and generations.  In a recent survey, 64% of Americans say they’ll be able to own or rent their dream home within their lifetime. Here’s what they say makes up the “American Dream Home.”

With the average dream home price being $1,300,000 and an average size of 2,195 square feet.

What is your dream home?

 

Posted by John Paul Ledesma, GRI | DRE 01810644 | HomeSmart Evergreen Realty

 

 

 

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This is a link to a CNBC interview with Ara Hovnanian, president & CEO of Hovnanian Enterprises regarding the housing market. Ha basically is saying the same thing that I have been telling people.

Click here to see the interview.

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