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2018 Real Estate Predictions from Kevin Budde at BofA

2018 Real Estate Predictions from Kevin Budde at BofA

2018 Real Estate Predictions from Kevin Budde at BofA California Specific – 2018 real estate In 2018 the California housing market is going to be much better than some may have thought in 2017. This month begins my 43rd year in the mortgage industry and while I may not be an economist I have experienced many ups and downs over the years. Since 1975 I have been through 3 major housing downturns (1980-1981, 1990-1994, 2007-2011) and I want to point out the most significant factors creating another good year for the California housing market.   Housing Markets Turn Down In Bad Economies, Not Good Ones We are going to have a strong economic year in California in 2018. California is having robust job gains and the unemployment rate is at the lowest level in 4 decades, 1979 being the last time it was this low – 4.6%. Since 2012 the California economy has grown faster than that of the US as a whole. Job gains are happening across most industries. Technology, Educational and Health Services, Leisure, Hospitality, Business Services, Manufacturing and Construction. All industries are showing gains in employment. With a tight labor market employees feel their jobs are secure and the possibility of pay increases. They also consume more goods, services and homes which in turn creates more jobs.   The New Tax Bill – Don’t Fear It The corporate tax cut to 21% is now in place along with lower individual tax rates and higher child care credits. Business owners and corporate executives make up a large portion of the high-end California home buyers. They will see...

Housing Market Shift?

Housing Market shift?? To be or not to be? Many buyers are hoping that home prices are coming down. Are we seeing a housing market shift? If they are seeing anything to support that scenario at this time it is the normal seasonal pattern. The heaviest listing months are March, April and May. The peak inventory hits every August. Overpriced listings will either come off the market or reduce their price by the fall. When overpriced listing reduce the price and eventually sell it gives the appearance of falling prices. For Market Info Click Here. That being said, interest rates have been climbing since the election. Partly due to the shift of investor money from bonds back to stocks. Interest rates have moved from the high 3’s to the low 4’s. As long as the economy improves a quarter to half point should not be a problem but if the rates go up much more many buyers will be left in the dust and the market will slow down. Orange County and CA in general has some of the worst affordability charts right now. Only about 12% of the population can buy a median priced home. The last report I got from economist Steven Thomas, said to expect only a 2% appreciation in the housing market in 2017. That was before the current interest rate hike. To sum it up many of us are worried about the affordability ratio in our area and certainly if the rates go up a full point then we are expecting a HOUSING MARKET SHIFT with longer selling times and possible price drops. Buyers...

Open House in Bear Brand Ridge Sunday 10/9/16

Open House in Bear Brand Ridge Sunday 10/9/16 You are invited to see this lovely home in Bear Brand Ridge on Sunday 10/9 from noon to 4PM at the open house. It is 3515 sq ft with four bedrooms, bonus room and four and half baths. The vaulted ceilings in the living room are stately and the kitchen is remodeled. There are “sit down” ocean views from the family room, kitchen, master and office. Great for entertaining with large patio and outdoor bar and grill. The kitchen has wood cabinets, stainless appliances, convection ovens and center island. The bonus room upstairs is great as a game room or theater. The main floor bedroom is large and has its own en-suite bath and there are no steps throughout the main level of the home. The panoramic view from the master deck is amazing. 19 Larkfield in Laguna Niguel – $1,729,000  Call Ron Buck at...

Value Proposition Ron Buck Group

Open Letter to Buyers and Sellers My Value Proposition in my Real Estate Business, Ron Buck Real Estate Group I am committed to providing you solid guidance and advice, with total honesty and professionalism. We are entering a Fiduciary Relationship, do you know what this means? That means that I will put your needs above all others, including my own. This is possibly the largest purchase you will ever make and your best interests are of utmost importance! Don’t you agree? Excellent… because that’s what you deserve. When I help you find the right property we will write a solid Contract with every possible protection for you. I will not only negotiate for you the best possible price; I will also protect you with all terms including financing, property inspections, funding, closing and occupancy. This is my full time career and I have a strong team of experts behind me. By the way, isn’t this what you want? Are you aware that there may be up to twenty different parties, people and entities involved in the purchase or selling process as we close your deal? I will be your advocate and coordinate with all of them. You will be in good hands with Ron Buck and his team at Keller Williams Realty. Buyer / Seller / Seller’s agent / Listing agent / Transition Coordinator buyer side and seller side / Mortgage Broker / Mortgage Processor / Mortgage Underwriter / Home Inspector / Pest Control Inspector / Various trade inspectors (plumber, roof, electrical) / Appraiser / Handyman or Retrofit Company / Home Warranty Company / Escrow Officer / Title Officer....

Laguna Niguel Housing Market Tracking Tool

Laguna Niguel Housing Market Tracking Tool Have you ever wondered which way the housing market is going in Laguna Niguel, Dana Point, Aliso Viejo or Mission Viejo? Now you can track the market fluctuations in any city for free. Of course the future is always unknown. This tracker goes back to 2001 and only projects out a few months in the future.  When using this internet tool, from Weiss Index, the color scale goes from RED (negative)  to Green (positive or increasing value) and neutral is white. It is fun to check out different zip codes. Click on weissindex.com Of course no one can truly predict the future and I don’t know the accuracy for each area, but for south Orange County housing in the last ten or so years this tool seems right on. From twenty years experience as a Realtor® I can tell you that when there is a dramatic increase in interest rates it always slows down sales for a time while the buyers rethink their position and buying power. Whether the prices drop inversely with the rise in interest rates, (which many buyers are convinced of) will depend on inventory levels and the general health of the job market. If you are thinking of buying soon keep this in mind – that if you are payment driven, then figure that a 1% INCREASE in RATE will force you to buy a home that is 10% LESS than what you can afford today. Or you can put more money down to keep the payment the same. If you are planning on staying in your home for...

Best Value Four Bedroom in Laguna Niguel – Open House

Open House Saturday June 13th 1-5PM – Best Value Four Bedroom in Laguna Niguel     Private, Quiet, Cul-de-sac 28595 Las Arubas, Laguna Niguel    $671,800 Four Bedroom two and half bath with no one            behind. Membership in the Club at Rancho Niguel. Open Saturday 1-5   For private showing call the neighborhood expert, Ron Buck with Keller Williams Realty. ...