Are you starting the process of buying or selling a home and want to know what’s going on in the local real estate market? If so, you can either give me a call at 714.376.2711 or watch the video below for a little more insight.
Is now a good time to Buy or Sell?
Is now a good time to Buy or Sell?
As a REALTOR, the most common question I get asked is, IS NOW A GOOD TIME TO BUY OR SELL and while that all depends on which you are trying to accomplish, let’s take a look at the current market trends and see if I can help you make some sense of the data. As of this week, the median home price for Condos in Huntington Beach is $445K and $899K for Single Family Homes.
Prices have leveled off for both and started a sideways trend (which means they are not really going up or down at the moment). With Condos, inventory is tightening while the Days on the market is falling giving Sellers an advantage. With regards to Single Family’s , inventory has started to tick up a bit but Days on the market trends is trending lower meaning the overall conditions for Single Family homes may be starting to weaken .
Currently the market seems to be paused around this recent high point with regards to prices. However,inventory as a whole is still sufficiently low which keeps us in a Sellers’ Market meaning that if themarket does HEAT up then prices are likely to resume an upward climb. Now let’s take a step back and consider where interest rates are for a moment as this does play a factor in how both Buyers and Sellers approach the market.
Currently interest rates on a 30 year fixed are somewhere in the neighborhood of 4.125% which means we are still close to historic lows and have pulled back from the recent rise that took rates up to around 4.75%. This is good sign for housing as it gives Buyers more purchasing power and at the same time gives Sellers an opportunity to take advantage of the recent rise in home prices from 2013.
Going back to our initial question, Is now a good time to buy or sell? At the end of the day it’s still a GREAT market for both Buyers and Sellers. For Buyers, prices have flattened out while interest ratesare remaining low giving the Buyer a good opportunity to jump into the market. It’s a similar situation for Sellers although prices have stopped climbing and inventory still relatively low, this is giving the Sellers an advantage to sell near recent highs. If you want more information about your property or if you are just starting the process and need someguidance, let’s schedule some time to talk. Call me today at 714.376.2711 for a no obligation consolation or visit me online at coastalrealtygrp.net and click on my client reviews to see what others are saying about their experiences working with me. Thanks again for taking the time and I look forward to seeing you again soon.
Huntington Beach Deemed ‘Compassionate City’
The laundry list of reasons why locals love living in Huntington Beach is endless, but that doesn’t mean the community isn’t striving to make it even better. Volunteering is nothing new for residents of Huntington Beach and the vast network of community groups and nonprofit organizations are banding together to make a big difference.
In 2009, British Author Karen Armstrong launched the International Campaign for Compassionate Cities to encourage governmental, nonprofit and religious groups to come together to improve the community as a whole. Huntington Beach was named a “compassionate city” in August by the City Council in effort to honor what has already been done within the community and encourage more proactive movements to take place.
“It’s about calling [the various groups] together, and about calling other people in the community together, neighbor to neighbor, to practice the Golden Rule,” the Rev. Peggy Price, a founder of the Greater Huntington Beach Interfaith Council told the Huntington Beach Independent. “It’s found in almost every culture and religion in the world.”
Huntington Beach is the first city in Orange County to receive the honorable tag and roughly a dozen groups, including the Human Relations Task Force, Interfaith Council and the Assistance League of Huntington Beach, have joined or shown interest in joining the Compassionate City Committee.
At the same time, the Huntington Beach Downtown Task Force met January 9 to discuss ways to improve downtown structures, lighting and more. The council has made significant progress in the past five months and officials hope to continue moving forward to make Huntington Beach an even better place to call home.
Interested in purchasing Huntington Beach real estate? As a local real estate agent, I am here to assist you in your search of finding your dream home.
SoCal Posts Big Home Value Figures in December
Southern California posted its first big jump in home prices this December for the first time since June, according to the Los Angeles Times. While the median single family home price has been steadily picking up over the past year, it has seen several drops along the way that halted a potential big spike.
Altos Research, a California-based real estate data analyst, posted a median single-family home value of $835,213, yet the price increases still point the market in the direction of the seller. This is indicative of the incredibly low inventory–only 234 properties were on the market as of January 10–with a 93-day average homes spend on the market in the area.
“The pitifully low inventory is the main culprit,” DataQuick President John Walsh told the Los Angeles Times. “The jump in home values over the last year suggests we’ll eventually see a lot more people interested in selling their homes, which would help ease the inventory crunch.”
Real estate in Southern California went through a roller coaster throughout 2013, starting off the year with a hot market in high demand. The predicted summer slump set in, and while the market did improve overall, its inconsistency left a damper on recovery. Experts believe this year will see more sustainable ups and downs.
Specifically in Huntington Beach, the total inventory rose for much of the year at a steady pace until September. The seven-day average saw a massive drop in October that only peaked slightly between November and December.
Interested in purchasing Huntington Beach real estate? As a local real estate agent, I am here to assist you in your search of finding your dream home.
Huntington Beach Businesses Expected to Pick Up in 2014
After the economy slowly advanced in Huntington Beach in 2013, local officials are optimistic about what 2014 holds. Small and local businesses across the nation had an up-and-down year in 2013 but ended it in a great position: Businesses with fewer than 50 employers added 108,000 jobs in December, up from 37,000 positions in October. Those looking for real estate in Huntington Beach will be edging into a prospering community just in time for what looks to be a vibrant year.
Last year welcomed several new businesses to the Huntington Beach area, but the Chamber of Commerce membership remained around 700, according to chamber President Jerry Wheeler. Wheeler looks forward to a a bit more oomph in the local economy in 2014 and so does Kelly Miller, president of the Huntington Marketing and Visitors Bureau.
“A part of this growth is being driven by boomers,” Kelly told the Huntington Beach Independent. “About 10,000 new baby boomers a day are being crowned, and they drive a tremendous percentage of consumer spending.”
Although consumers remain cautious due to a similar forecast predicted at the start of 2013, more signs point that the economic resurgence is on its way. Nationwide, more entrepreneurs are able to expand their businesses due to an increasing number of small commercial business loans and improved application approval rating.
In fact, according to the Thomson Reuters/PayNet Small Business Lending Index, commercial loans given to small firms have increased year-over-year for the fourth straight time. And despite the government shutdown in October, data from the month was at its highest level in more than six years.
2014 will be a big year economically, and those looking for real estate in Huntington Beach shouldn’t wait any longer to buy or sell.
Interested in purchasing Huntington Beach real estate? As a local real estate agent, I am here to assist you in your search of finding your dream home.
Southern California Real Estate Predictions for 2014 Promising
Those who are looking to purchase Huntington Beach real estate in 2014 are expected to have less competition than they did in 2013, according to the Multiple Listing Service. In fact, for the past few years, homes in Southern California were being snatched up by investors who were paying in cash and over-bidding on homes. Due to a 21.3 percent rise in the median home price in Orange County and a decreasing supply, the competition is thinning out and more homes are being sold to those in need of a primary residence.
After a surge in home values in Southern California, the prices remained fairly stagnant for the last few months of the year. With an expected 7 to 11 percent home value increase throughout the year, home buyers can rest assured that competition from investors and flippers will likely subside.
“Home prices aren’t soaring anymore but they’re also proving to be sticky,” DataQuick President John Walsh said. “The price jumps we saw earlier this year were driven in large part by the supply-demand mismatch. This spring could bring a substantial surge in inventory as more homeowners look to cash in on higher values. If that happens it’s going to make big price jumps less likely.”
According to DQNews, the year-over-year sales volume for homes in Southern California in November decreased by 10.4 percent, and the median home value increased by 19.9 percent. The market is expected to be on the upswing through 2014 and mortgage rates are still low. As long as new home projects get underway, the forecast looks promising to potential home buyers in the region.
Interested in purchasing Huntington Beach real estate? As a local real estate agent, I am here to assist you in your search of finding your dream home.
5 Steps to Selling Fast and for Top Dollar
Hi, this is Jeb Smith, Broker/Owner of Coastal Realty Group. You might often hear me say that, “It Matters Who You Work With.” In today’s real estate market, that couldn’t be more true. Selling your Orange County home requires maximum exposure.
My Team and I have developed a proven five step process to sell your home quickly and for TOP Dollar. First, we hire a professional photographer to help accentuate the features of your home then we use those photos for all of our print and online media which helps your home stand out above the competition. Third, we make sure your home ranks at the top of online search results by creating a video to showcase y our property. From there results. From there we let the world know about your home by working the phones and email by calling all of our Buyers and the local Brokers in the area to let them know about our new property. Lastly to tie all of these things together we implement our Mega Open House Strategy to get the maximum numbers of Buyers to your property within the first days.
To learn more about how we can customize this process to help sell your home quick and for TOP Dollar, call me for a no-obligation consultation at 714.376.2711 You can also visit me online at CoastalRealtyGrp.net. Visit our site and click on client reviews to hear what others are saying about their experiences working with us. Because right now, more than ever, “It Matters Who You Work With!”
Huntington Beach Real Estate 2014 Projections
It’s hard to believe that 2013 is a thing of the past. In the grand scheme of real estate things, it was one of the most impressive years for Huntington Beach home value gains and sales for as long as most people can remember. It’s left many wondering how 2014 might be able to best it, but according to real estate experts, the New Year is looking bright for Southern California real estate.
For one, builders are starting to resume projects and resume new ones, which will help add inventory to the equation for interested buyers. And because the economy is on the rebound and more jobs are being created, 2014 is anticipated to be a banner year for real estate. While some people are fearful that overbuilding could become a problem, experts say that there is no reason to worry, mostly because of the increasing demand.
According to Michael Carney, director of the real estate research council and a finance and real estate professor at Cal Poly Pomona, home prices throughout the Southland increased 18.3 percent in 2013. However, inventory had a hard time keeping pace with demand. He points out that inventory levels haven’t been this low since the mid-1990’s. Carney said: “The year started strongly for home sales, although the second half cooled down dramatically.”
Specifically, the Inland Empire is poised to see tremendous growth when it comes to new home communities in 2014. New Model Colony, for example, out in Ontario is scheduled to open in late 2014 or early 2015, and the community will add approximately 40,000 homes from more than 12 home builders. These homes will put a roof over the heads of about 120,000 people.
It’s a great time to be a Huntington Beach home owner. Interest continues to increase around Southern California, and because of our beach-close location, the likelihood of home values continuing to rise in 2014 is very possible.
Interested in Huntington Beach homes for sale? Please contact me. I’m a local real estate agent, and I would love to acquaint you with the Huntington Beach real estate market.
Southern California Foreclosure Filings Drop in November
Great news for Huntington Beach home owners as RealtyTrac, a real estate information company and foreclosure tracking service, reported foreclosure filings declined around Southern California during the month of November. There was a 5.3 percent drop from October, and a precipitous 56 percent decline year-over-year from November 2012. This has pulled Southern California foreclosure numbers back to more normal levels.
RealtyTrac found that the Los Angeles, San Diego and the Inland Empire metro areas all experienced a massive decline in foreclosures. During the height of the recession and subsequent housing crisis, experts say there were approximately 2,500 foreclosures each month, especially in the Inland Empire.
Daren Blomquist, vice president of RealtyTrac, said: “The depth and breath of the decrease provides strong evidence that we are entering the ninth inning of this foreclosure crisis with the outcome all but guaranteed.”
Around the U.S., foreclosures became a major problem during the downturn in the housing market because so many people owed more than their homes were worth as values declined. Cities with the largest number of foreclosure filings included Chicago, Miami and Tampa, along with the two-county Inland Empire. Some places like Baltimore and Philadelphia continue to work through a backlog of foreclosures, with numbers continuing to rise.
According to Blomquist, the Southern California real estate market has managed to find stable footing and doesn’t appear to be in danger of another foreclosure crisis anytime soon. Banks and lenders are much more judicious in their vetting process for issuing loans, and home buyers understand the significance of their investment after watching countless home owners wade through the stress and uncertainty of the foreclosure process.
There are so many reasons to consider becoming a Huntington Beach home owner! If you’re interested in learning more about this fantastic coastal community in Southern California, please contact me. I’m a local real estate agent and I’d love to assist you.
Huntington Residents Celebrate Harbour Boat Parade
Huntington Beach home owners look forward to the annual Huntington Harbour Boat Parade and Cruise of Lights each year to ring-in the holiday season, and 2013 was no exception. The annual event was borne by a group of local residents 51 years ago and the tradition has never been stronger.
The Huntington Harbour Philharmonic Committee continues to oversee the annual boat parade, which raises money for school music programs around Orange County. Eva Kilgore, the organization’s spokeswoman, said: “The boat parade now has dozens of boats. It’s a ‘Thank you’ to our residents for decorating [their Huntington Beach homes] for the Cruise of Lights.”
The 2013 event took place on December 7 and 8 with the theme of “Music Around the World.” Huntington homes and boats large and small were decked out with lights and decorations that celebrated the holiday season and the theme. Boat owners came from as far away as Los Angeles to get in on the action.
For holiday revelers who prefer to stay on land, the Cruise of Lights event offered them the chance to see a variety of waterfront Huntington Beach homes decorated for the holidays over two weekends, December 14-15 and 19-23. The fundraising event sells tickets annually for the 45-minute narrated tour around the harbor, and proceeds from the event are also donated to various student music programs at schools around Orange County.
It’s a wonderful way to get into the spirit of the holiday season, and many Huntington Beach home owners look forward to December all year because of these exceptional events. Adds, Kilgore: “We’ve had guest as far as New Zealand take the Cruise of Lights. We’ve also had two marriage proposals on the cruise.”
For assistance with all of your Huntington Beach real estate needs, please contact me. I’m a local real estate agent and I’d love to discuss your unique real estate objectives.
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