Every year we make a point to attend the annual OCR meeting. This 3 hour event is filled with great information about what’s happening in our association and community, and it helps us stay on the pulse of the everchanging real estate market.
Did you know over 51% of real estate transactions in Orange County are completed by a member of OCR? We are the largest local association in CA and the 9th largest in the nation. We’re a huge group and have over 10,000 Realtors. Yes, there are THAT many agents in our county & we all work differently 😉 Thankfully OCR puts on this event yearly so we can all be on the same page with the expectations of the market.
Chris Thornberg Presents the OC Economic Outlook
Chris, a famous forecaster with Beacon Economics, warns to be careful of weapons of mass distraction.. like the current president’s tweets… and focus on the true story. There isn’t a weather report for democrats & republicans. There’s just a weather report. That said…here is the real estate report 😉
LIFE IS GOOD. But not without it’s challenges. We are not expecting a correction for at least 2 years.
WE ARE NOT IN A REAL ESTATE BUBBLE. Bubbles happen when we overbuild, and when we overborrow. Neither of those things are happening right now.
THE ECONOMY IS STRONG. Wages are rising, unemployment is low, jobs are available.
RATES WILL RISE. We’ve had 5 recent hikes and are expecting more. No need to freak out though….rates will still be lower than they were in 2006. Keep everything in perspective.
CA RANKS 8TH FOR ECONOMIC PERFORMANCE. We’re adding workers (and need more), and we have a large number of high income households. 18% of CA households make over 150K/yr!
WE NEED MORE HOUSES FOR SALE. The reason our prices continue to go up is our huge lack of supply. Builders need to build more… (they are only building half as much as we currently need yearly) and owners need to sell more (the average time owners hold a home has significantly increased the last 20 years).
All in all things are still looking really good for California Real Estate – comment your thoughts below! Ready to jump in? Text Angie at 949-338-7408 if you’d like to surf the wave!
Spring time has begun in Orange County, even though the weather has been chillier than normal! Spring means lots of exciting things like flowers blooming, maybe a little rain to make the grass more green, time spent at the beach, but for us in the real estate business and those of you looking to buy a home it means a busy and sometimes difficult season. We thought we’d share some of our favorite tips with potential buyers before we jump into this time of the year, full force.
Getting everything prepared to buy your home!
We recommend you always have a buyer’s agent to represent you! This makes communication so much easier with the sellers agent. Having a buyer’s agent that you really trust is so important in the home buying process. You need someone who really knows what they’re doing to be your voice when it comes to real estate matters. They will always have your best interest at heart and can properly represent you during the process.
To speed the process up, make sure you have your pre approval, proof of funds, and all of your paperwork in order. This will be most beneficial when there are other buyers interested in the same home as you, you want to make sure you are ready to go and can prove that to the sellers. There could be multiple people writing offers on the property you love and want to be your forever home, so it is important to make sure you have everything ready to be competitive for that home.
Advanced Tips for Homebuying Success
The seller’s agent is more than likely to want you to cross-qualify with the lender they have chosen to trust and use, so make sure you are able to qualify with anyone that runs your information. This will make the process much more smooth and will show the sellers and their agent that you are reliable. Also, make sure your agent has a cover letter for all of your offers. This just makes you look more organized and professional, and goes back to tip number one of having an agent you fully trust to be your voice throughout this nerve-wracking process.
Have an edge and be ready to go all in for the property you want!
Here’s a video of Angie and Loan Specialist Derek Beisner discussing loan contingency to help avoid heartbreak during spring buying season!
Call or text Angie at 949-338-7408 if you’d like to get moving in the right direction on your dream home this season.
Every year we make a point to attend the annual OCR meeting. This 3 hour event is filled with great information about what’s happening in our association and community, and it helps us stay on the pulse of the everchanging real estate market.
Orange County Real Estate Success 