Private & quiet location with lake & city lights in the beautiful community of Lakeside Park in the tranquil city of Lake Forest. This spacious 3 bedroom, 2 and a half bath sizable condominium is the perfect family home. Remodeled just a few years ago with designers touches like farmers door in master bedroom's closet, custom cabinets throughout bathrooms & flooring. The upgraded kitchen features cherry colored cabinets, granite countertops, stainless steel appliances & well appointed stone accents. Specious living room area opens to a delightful private patio area, an entertaining retreat highlighted with BBQ island, open views to the lake, city lights & direct access to a greenbelt. Additional amenities include a 2 car carport parking directly in…

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Explore one of the best locations in the private gated community of lake shores. This 2 bedroom, 2 bath waterfront property boasts lake front location & ground level, single story privacy. The immaculate custom designed interior is complimented by wrap around patio allowing beautiful lake views to fully unfold. This spacious, light & bright open floor plan features modern appointments including warm colors wood floors, cozy fireplace in the family room, travertine, granite countertops, matching white cabinets and upgraded kitchen and baths. The chef’s caliber kitchen opens to the living room and offers lake and mountain views. The rest of the home unveils two spacious bedrooms - large master opens up to the patio where one will appreciate an…

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Now that the end of 2022 is within sight, you may be wondering what’s going to happen in the housing market next year and what that may mean if you’re thinking about buying a home. Here’s a look at the latest expert insights on both mortgage rates and home prices so you can make your best move possible. 

Mortgage Rates Will Continue to Respond to Inflation 

There’s no doubt mortgage rates have skyrocketed this year as the market responded to high inflation. The increases we’ve seen were fast and dramatic, and the average 30-year fixed mortgage rate even surpassed 7% at the end of last month. In fact, it’s the first time they’ve risen this high in over 20 years (see graph below): 

In their latest quarterly…

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While higher mortgage rates are creating affordability challenges for homebuyers this year, there is some good news for those people still looking to buy a home. 

As the market has cooled this year, some of the intensity buyers faced during the peak frenzy of the pandemic has cooled too. Here are just a few trends that may benefit you when you go to buy a home today. 

1. More Homes to Choose from 

During the pandemic, housing supply hit a record low at the same time buyer demand skyrocketed. This combination made it difficult to find a home because there just weren’t enough to meet buyer demand. According to Calculated Risk, the supply of homes for sale increased by 39.5%for the week ending October 28 compared to the…

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With all the headlines and talk in the media about the shift in the housing market, you might be thinking this is a housing bubble. It’s only natural for those thoughts to creep in that make you think it could be a repeat of what took place in 2008. But the good news is, there’s concrete data to show why this is nothing like the last time. 

There’s Still a Shortage of Homes on the Market Today, not a Surplus 

For historical context, there were too many homes for sale during the housing crisis (many of which were short sales and foreclosures), and that caused prices to fall dramatically. Supply has increased since the start of this year, but there’s still a shortage of inventory available overall, primarily due to almost 15 years…

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Since the 2008 housing bubble burst, the word recession strikes a stronger emotional chord than it ever did before. And while there’s some debate around whether we’re officially in a recession right now, the good news is experts say a recession today would likely be mild and the economy would rebound quickly. As the 2022 CEO Outlook from KPMG says: 

“Global CEOs see a ‘mild and short’ recession, yet optimistic about global economy over 3-year horizon . . . 

More than 8 out of 10 anticipate a recession over the next 12 months, with more than half expecting it to be mild and short.” 

To add to that sentiment, housing is typically one of the first sectors to rebound during a slowdown. As Ali Wolf, Chief Economist…

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  • If you’re planning to sell your house this year, you likely have questions about what the shift in the housing market means for your home sale.
  • You might be wondering: Should I wait to sell? Are buyers still out there? And can I afford to buy my next home?
  • Connect with us at The Aaronson Group so you can get answers to these questions and learn about the opportunities you still have in today’s housing market. Contact 949-388-5194 or email: info@previewochomes.com

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As the housing market cools in response to the dramatic rise in mortgage rates, home price appreciation is cooling as well. And if you’re following along with headlines in the media, you’re probably seeing a wide range of opinions calling for everything from falling home prices to ongoing appreciation. But what’s true? What’s most likely to happen moving forward? 

While opinions differ, the most likely outcome is we’ll fall somewhere in the middle of slight appreciation and slight depreciation. Here’s a look at the latest expert projections so you have the best information possible today. 

What the Experts Are Saying About Home Prices Next Year 

The graph below shows the most up-to-date forecasts from five…

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Over the past two years, the substantial imbalance of low housing supply and high buyer demand pushed home sales and buyer competition to new heights. But this year, things are shifting as supply and demand reach an inflection point. 

The graph below helps tell the story of just how different things are today. 

This year, buyer demand has eased as higher mortgage rates and mounting economic uncertainty moderated the market. This slowdown in demand is clear when you look at the red bar on the graph. It uses the latest data from Showing Time to illustrate how showings (an indicator of buyer demand) have softened by just over 12% compared to the same time last year. 

Now for a look at how housing supply has…

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Does the latest news about the housing market have you questioning your plans to sell your house? If so, perspective is key. Here are some of the ways a trusted real estate professional can explain the shift that’s happening today and why it’s still a sellers’ market even during the cooldown. 

Fewer Homes for Sale than Pre-Pandemic 

While the supply of homes available for sale has increased this year compared to last, we’re still nowhere near what’s considered a balanced market.  A recent article from Calculated Risk helps put this year’s increased inventory into context (see graph below): 

It shows supply this year has surpassed 2021 levels by over 30%. But the further back you look, the more you’ll…

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