Preview Orange County Real Estate Blog


  • When it comes to the current housing market, there are some myths circling around right now.
  • Some of the more common ones are that it’s better to wait for mortgage rates to fall or prices to crash. But there are others about the supply of homes for sale and down payments. 
  • Lean on The Aaronson Group to help separate fact from fiction in today’s housing market.
  • Expert advice from The Aaronson Group is priceless.  Contact The Aaronson Group. Call 949-388-5194  Email: info@previewochomes.com

 
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  • Hiring The Aaronson Group when buying a home helps you understand the buying process and the local market. 

  • We also go over contracts and fine print with you, so you understand what you're agreeing to. Plus, we're good at negotiating, making sure you get the best deal. 

  • Expert advice from The Aaronson Group is priceless.  Contact The Aaronson Group. Call 949-388-5194  Email: info@previewochomes.com

 
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Are you thinking about moving? If so, now may be the perfect time to start the process. Experts say the best week to list your house is just around the corner.

A recent Realtor.com study looked at housing market trends over the past several years (except for 2020, since it was an unusual year) and found the best week to put your house on the market this year is April 14-20:
“Every year, one week stands out from the rest as the perfect time to be a home seller. This year, the week of April 14–20 is the best time to sell—that is, if sellers want to see lots of interest in their homes, sell quickly, and pocket some extra cash, according to Realtor.com® data.”

Here’s why this matters for you. While the spring market is a great time to sell, this

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Recent headlines may leave you wondering what's next for mortgage rates. You may have previously heard there would be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. Cutting or lowering the Fed Funds Rate doesn't directly determine mortgage rates but tends to impact them. But when the Fed met last week, a cut didn't happen — at least, not yet.

The Fed considered many factors in its recent decision, and most of them are complex. But you don't need to be bogged down by those finer details. What you want is the answer to this question: Does that mean mortgage rates aren't going to fall? Here's what you need to know.

Mortgage Rates Are Still Expected To Drop This

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This exceptional home offers a heightened beachfront living experience, situated in a 24-hour guard gated community with direct ownership of the beach up to the medium high tide line. Constructed on caissons, the sophisticated and stylish ambiance of the home is evident both inside and out, with new elegant lighting throughout, custom wrought iron railings, frameless glass balcony/deck railings, fresh interior & exterior paint, and exquisite marble walls in the family and primary rooms. The chef's remodeled kitchen is a culinary enthusiast's dream, equipped with high-end appliances including a sub-zero fridge, double ovens, marble and quartz counters, subway tile accents, and a stunning chandelier, all with views to the water, making it a perfect

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If you’re planning to move soon, you might be wondering if there’ll be more homes to choose from, where prices and mortgage rates are headed, and how to navigate today’s market. If so, here’s what the professionals are saying about what’s in store for this season. 

Odeta Kushi, Deputy Chief Economist, First American: 

“. . . it seems our general expectation for the spring is that we will see a pickup in inventory. In fact, that already seems to be happening. But it won’t necessarily be enough to satiate demand.” 

Lisa Sturtevant, Chief Economist, Bright MLS: 

“There is still strong demand, as the large millennial population remains in the prime first-time homebuying range.” 

Danielle Hale, Chief

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If you’ve been considering buying a home, mortgage rates are probably at the top of your mind. They may even be why you’ve put your plans on hold. When rates climbed nearly 8% last year, some buyers found the numbers didn’t make sense for their budget anymore. That may be the case for you, too.
Data from Bright MLS shows the top reason buyers delayed their plans to move is due to high mortgage rates (see graph below):


David Childers, CEO at Keeping Current Matters, speaks to this statistic in the recent How’s The Market podcast:
“Three-quarters of buyers said, ‘We’re out’ due to mortgage rates. Here’s what I know going forward: That will change in 2024.”
That’s because mortgage rates have come down from their peak last October. And while

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If you’re looking at your expenses as you retire, saving money where you can has a lot of appeal. One long-standing, popular way to do that is by downsizing to a smaller home.  When you think about cutting down on your spending, the odds are that you will feel like making frequent purchases, like groceries and other goods.

But when you downsize your house, you often end up downsizing the bills that come with it, like your mortgage payment, energy costs, and maintenance requirements. Realtor.com shares:
“A smaller home typically means lower bills and less upkeep. Then there’s the potential windfall from selling your larger home and buying something smaller.”

That windfall is thanks to your home equity. If you’ve been in your house for a while,

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  • Wondering if now’s a good time to sell your house? Based on how many homes are on the market, there are two big reasons why this spring is looking so good for sellers. 
  • Thanks to an uptick in inventory over the last year, you’ve got more options for your next home. But there are still fewer homes for sale than there’d normally be, meaning your house should stand out and get a lot of attention from buyers. 
  • If you want to sell your house, this spring is the sweet spot. When you’re ready, chat with The Aaronson Group to get the ball rolling.  Call 949-388-5194 or Email info@previewochomes.com

 
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