New Home Sales at 5 year high!

30 Second Real Estate Update

New Homes Sales at highest level since 2008 and consumer confidence highest level in 5 years.  These are all good news for Current Homeowners and potential Sellers in this market, but there are indicators on the horizon that these large increases won't last.

Interest Rates are rising. We have certainly seen the bottom, at least for now.  As rates continue to rise, it will make home ownership less affordable relatively speaking.  This will cause some pressure on the demand side.

Investor appetite also appears to be fading.  In the markets like Southern California where we have seen a dramatic rise in values, that eats into returns for investors who are wanting to buy and hold.  It also diminishes opportunity for those who were in the market of buying and flipping.  This will also impact the demand side of the business.

These are just two of the things that should begin to stabilize market values.  So, if you are thinking about selling, now is still a really good time to do so.  Call me to set up a private, one-on-one real estate strategy session today.

Real Estate Values Up 22% from 2 years ago

Real Estate Values are up 22% in Ventura County from 2 years ago.  There are many reasons why that is the case which we will evaluate over the next few weeks.  Have a great real estate day!

http://viddy.it/zOIM1w

What if?

My focus for this blog is usually to update my friends, family, clients and others on what is happening in the world of real estate.  But today, I just felt moved to share a different topic with everyone.  

I just had the chance to listen to the new single by my friend @johnondrasik called "What If".  He is the classic American story. His whole life he had a dream! He stayed focus on that dream, worked hard and has now found success...as a Father! Oh yes, he's also a successful musician and an example to us all through his lyrics and his actions. I am proud of him and am not surprised at his latest song.  As art goes, it can always be interpreted in many ways, but the theme is consistent with a book I am reading now called "Peace Be Upon You" by Zachary Karabell. In this book he describes so many times in human history when Muslims, Christians and Jews have come together, in peace, to make their lives and the lives of those around them a better. He describes in these times were these very different groups have come together to live in peace. He believes that "there is a possibility of peace and constructive coexistence between Muslims, Christians, and Jews - and more to the point, between believing Muslims, Christians, and Jews who, in their heart of hearts, think that their creed and their creed alone reflects God's will."

We are a divided country in a divided world. We segregate ourselves into pockets of those that are most familiar with us and to us.  Families, religions, nationalities, race, color, political affiliations, economics, sexuality, education, etc. Some of these groups outline very real differences in how and what people believe, but many times these differences are perceptions that have been developed over time that take hold in our hearts and in our minds and in our societies and they become very difficult to break. John's new song asks a new question. "What if?" Maybe this question has been around for all of human history and this is what has caused these walls to break down over time.  But, in these times where it seems there is discontent and separation at every turn, it feels like a new question. "What if?" "What if I had your heart? What if you wore my scars? What if you were me and what if I were you? What if I cried with your eyes?" 

I believe that this is it. These are the things that bring us together. We pump the same blood, we cry the same tears, we scar the same scars. We all want to love and be loved. All the rest is just noise. What would happen in this world if we spent more time focussing on the things that we have in common. Start each new day believing that my brother, my neighbor, my co-worker, my enemy, my congregation have so many things in common. What would happen in this world? 

Is it possible? Is it possible to come together first before we begin to see where things are so different? I know its utopia and I know that I am a dreamer, but I believe its possible. We will always fight for the things that we believe in. We will always stand up to protect those that we love. But if first we focus on the things that we have in common, it might change our approach, it might change our world. So I join @johnondrasik by encouraging you to "Take a chance for a minute, jump in it, imagine if you asked yourself for a minute...What if?" 

You can find John's new song on iTunes at http://ow.ly/lXuz2 OR at http://www.fiveforfighting.com 

Have a great day!

Ventura County Inventory Levels are Rising!

Is the rush finally over? Is this bubble starting to lose steam?

Core Logic came out today with a report stating that its index had the strongest gain since 2006.  There data suggests that year-over-year gains in thier index are 10.2% from March 2012 to March 2013.  That's right...2006.  Remember the days of 2006? That was the peak of the bubble.  Because of a lack of inventory and high demand from investors and regular buyers, values have been on the rise.

However, for the first time in a while, we are beginning to see cracks in the inventory numbers.  There are pockets of inventory in Camarillo where we are beginning to see a rise.  In Camarillo, values from $400,000 to $650,000 inventory is up 16%.  In all of Ventura County we are seeing increases in all categories except for single family homes from $250,000 and under.  Now, having said that, the numbers are still very, very low.  For single family homes in Ventura County under $1,000,000, inventory levels of homes on the Active market is still less than 1 month.  Normal markets would see inventory levels about 3 to 4 months.



This is still a Sellers market, so if you have a friend who is thinking about selling, make sure you have them call me right away to make sure they don't miss this attractive time for them to be selling.  You never know when this market will shift again.

April 26 Real Estate Market Update - Sellers Market ending

April 26 Real Estate Market Update - Sellers Market ending

Recent reports show that price gains may be slowing and that inventory levels are beginning to bottom out.  When you combine that with higher interest rates coming in 2014, it appears that this summer may be the end of the current Seller's Market.

April 22 Real Estate Update

April 22 Real Estate Update

Inventory levels are beginning to rise at the national level.  Inventory was up 1.6% in March from the month prior. Those small increases will begin to have an impact on the rate of increase we have seen recently.

April 18th 30 Sec Real Estate Update

http://www.viddy.com/1wisedad/v/april-18-30-sec-real-estate-market-update-price-up-Cpa4OY 

Fannie Mae announced in their most recent economic report that the real estate recovery is "more robust" than they anticipated and that they are now projecting real estate values to increase by 5.1% over the next year.  In Ventura County we have already seen a spike in rates with real estate values up over 10% from a year ago.  In Camarillo, values have increased by over 13% from a year ago.  See the chart below.  

 

These are welcomed gains, but when you put this in perspective with where we have come from, it just appears as a good sign.  The chart below gives you a little deeper look at home prices in Camarillo over an extended period of time.  

 

The question is how long can the markets sustain that type of growth in spite of the overall economy.  At some point this year or beginning of next we are expecting inventory levels to begin to rise.  In addition, we also anticipate that interest rates are likely to increase in 2014.  These changes will certainly lead to slower growth.  So, if you are considering selling your home in Camarillo or the surrounding Ventura County or Los Angeles County market, now may be the right time to get the premium you have been needing to move on or move up.  Call me if that time is now for you.