Kimberley Austin Realtor

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Market Update March 11, 2021 Interest rates are at the highest levels in months due to improving economic conditions due to the vaccine availability and government stimulus checks. The economic outlook is promising! Jobs increased in February by 379,000 jobs and strength was seen in leisure and hospitality sector which was hit hard during the pandemic. Unemployment fell from 6.3% last month to 6.2%. Earnings are up 5.3% higher than a year ago. Most businesses remain optimi...stic about the next 6 to 12 months. Mortgage Loan Rates are up slightly over 3% for a 30 year fixed loan. The Mortgage Bankers Association’s Chief Forecaster noted that The housing market is entering the busy spring buying season with strong demand. Freddie Mac’s Chief Economist added That while purchase activity remains high it has cooled off. However the rise in mortgage rates over the next couple of months is likely to be muted and we expect a strong spring sales season. New construction spending rose 1.7% in January up 2.1%. Spending gains were led by single-family home building. New report from CFPB Consumer Financial Protection Bureau, finds over 11 million families are at risk of losing housing and warrants possible widespread evictions once protections are gone. In addition, 8.8 million families are behind on rent. Same report shows 2.1 million families are behind at least three months on March mortgage payments and homeowners owe almost $90 billion in missed mortgage payments. Since the pandemic started multi-generational home purchases has risen to 15% the highest level since NAR started collecting data in 2012 For Luxury Housing which is single family residences of $1 million and more has shown the most increase in cost. The following is the increases per area: San Luis Obispo up 44% in a year San Diego Up 42% Santa Barbara up 40% Monterey up 39% Contra Costa of 33% LA County up 16% Orange County up 13% Riverside County is one of the region’s best housing bargains at this time! Thinking of buying, selling or investing? Please give me a call (714) 721-7461.

REAL ESTATE MARKET UPDATE FOR 2/11/2021 It’s still a Seller’s Market and we need more inventory! If you need to Sell, please call me! The 2020 ROI nationwide 34.7% return home sales on investment ... Real estate profits have grown nine years in a row People were typically only staying in the homes approximately 7 years now people are staying put for an average of 8.3 years The outlook for spring 2021 is in a percent position for further growth Home buying mortgages are up 16% from this time last year Refinance home loan mortgages are up 59% over last year Total of all fourth-quarter to2020, total loan volume up 106% from fourth-quarter 2019 Mortgage rates went up slightly around 2.8% 6% to 2.75% for 30 year; 15 years as low as 2.33% Is now the time of YOU to Buy, Sell or Invest? Please contact me at 714-721-7461.

Go on the market at the right time. The housing market ebbs and flows throughout the year on a pretty set schedule. While it’s not impossible to sell a home in November or December, you’re much more likely to have success in the spring, when more buyers are out looking. If you’re trying to sell a home quickly, your best bet is to list no earlier than late February so that you can take advantage of the heavy activity.

Does Your Home Have What Buyers Are Looking For? There’s a great opportunity for today’s homeowners to sell their houses and make a move, yet due to the impact of the ongoing health crisis, some sellers are taking their time coming back to the market. For homeowners who need a little nudge of motivation to get back in the game, it’s good to know that buyers are ready to purchase this season. After spending several months at home and re-evaluating what they truly want and need in their space, buyers are ready and they’re in the market now.

It does not matter how slowly you go as long as you do not stop.

Home SellingTip The old adage that you only get one shot at a first impression is true. So, make the interior of your home shine from the moment someone walks through the door. Hire a cleaning service for a thorough top-to-bottom scrubbing. Even if you clean your home regularly, there are nooks and crannies that you may miss or overlook. Let a cleaning service do the dirty work to really make your home sparkle.

Moving Too Fast Buying a home can be complex, particularly when you get into the weeds of the mortgage process. Rushing the process can cost you later on. How this affects you: Rushing the process means you might be unable to save enough for a down payment and closing costs. ... What to do instead: Map out your homebuying timeline at least a year in advance. Keep in mind it can take months even years to repair poor credit and save enough for a sizable down payment. See more

#HomeBuyingTip On Pre-Approvals Shopping around for pre-approvals doesn't hurt your credit score. Applying for preapproval from more than one lender to shop rates shouldn't hurt your credit score as long as you apply for them within a limited time frame, such as 30 days.... See more

Thank you for your donation. With your help, our neighborhood donated 388 lbs. of food at this much needed time to the OC FOOD BANK! I am looking forward to doing the food drive again. If anyone would like to help, please don't hesitate to reach out to me. ... Remember I'm never too busy for you, your family and your friends. Your Neighbor an Your Neighborhood Real Estate Specialist. #fooddrive #realestate #californiarealestate #californiarealtor #ocfoodbank Kimberly Austin Real Estate Specialist 714 721-7461 [email protected] Desert Sea Real Estate DRE #01980508