Hello and Happy New Year! The Orange County housing market is in the throes of launching with great renewed energy to start the Winter/Spring selling season. This is a brief summary of The Steven Thomas Orange County Housing Report. As Steven states, basic economics, and the principle of supply and demand, have created a current shift in our market. With more homes available for sale, the frantic element has been reduced from the equation for those hoping to buy a home. A stability now exists with what is termed a “balanced market” with enough homes available for sale for active Buyers to have a choice.
There are no indicators of a dramatic shift in the housing prices; fair market value will be the determining factor for offers forthcoming. Sellers, be wise as you price your home by looking at the comparable sales in the immediate as your realistic determinant of price, and don’t expect the frenzy seen last year in the Winter/Spring market. Buyers, the interest rates have softened a bit so don’t hesitate to make your home purchase soon. The Federal Reserve states they are serious about moving the interest rates up to target a more normal rate of 6%. We grew accustomed to the unsustainable low-low interest rates of a now by-gone era. Realistic home prices and realistic interest rates are indicative of our strengthening economy, which we can all be grateful for!
With that being said, I am ready to hit the ground running to help with your real estate endeavors. Let’s talk! Also, I always delight in hearing the words on the other end of the phone, “I just gave your name to…” Thank you! See you soon!
If you would like a full copy of the most recent Steven Thomas Housing report, please contact me via e-mail and I will send it right out to you.