Preview Orange County Real Estate Blog - The Aaronson Group

Mortgage Rates Drop to Lowest Level in Over a Year and a Half

Mortgage rates have hit their lowest point in over a year and a half. And that’s big news if you’ve been sitting on the homebuying sidelines waiting for this moment. 

Even a slight rate decline could help you get a better monthly payment than you would expect on your next home. And the drop that’s happened recently isn’t tiny. As Sam Khater, Chief Economist at Freddie Mac, says: 

“Mortgage rates have fallen more than half a percent . . . and are at their lowest level since February 2023.” 

But if you want to see it and believe it, here’s how the math shakes out. Take a closer look at the impact on your monthly payment. 

The chart below shows what a monthly payment (principal and interest) would look like on a $400K home loan…

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Why Working with a Real Estate Professional Is Crucial Right Now

Navigating the housing market can be tricky, especially these days. That’s why having an experienced guide when buying or selling a home is so important. The market isn’t exactly straightforward right now, and working with The Aaronson Group can offer insights and advice that make all the difference. 

While today’s market conditions might seem confusing or overwhelming, you don’t have to handle them alone. With The Aaronson Group you go through every step, you can navigate the process with the clarity and confidence you deserve. 

Here are just a few of the ways The Aaronson Group is invaluable: 

Contracts – We can help with the disclosures and contracts necessary in today’s heavily regulated environment. 

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The Real Story Behind What’s Happening with Home Prices

If you’re wondering what’s happening with home prices lately, you’re not the only one. With so much information, figuring out your next move can be challenging.   As a buyer, you might be worried about paying more than you should. And if you’re considering selling, you might be concerned about not getting the price you aim for.  So, here’s a quick breakdown to help clear things up and show you what’s happening with prices—whether you’re thinking about buying or selling.  

Home Price Growth is Slowing, but Prices Aren’t Falling Nationally 

Throughout the country, home price appreciation is moderating. That means prices are still going up, but they’re not rising as quickly as they were in recent years. The graph below…

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The Number One Mistake Sellers Are Making: Overpricing Their House

    In today's housing market, many sellers make a critical mistake: overpricing their houses. This standard error can lead to a home sitting on the market for a long time without any offers. When that happens, the homeowner may drop the asking price to re-ignite buyer interest. 
Data from realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below): 

  If you're considering moving, here's what you need to know. The best way to avoid making a costly mistake is to work with a trusted real estate agent to find the right price. Here's a look at what's at stake if you don't. 
Not Paying Attention to Current Market Conditions 
Understanding current market conditions is…

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The Biggest Mistakes Sellers Are Making Right Now

  The housing market is going through a transition. Higher mortgage rates are causing more moderate buyer activity while the supply of homes for sale grows. 
You may not realize that if you aren't working with an agent. Here's the downside: If you are not informed, you can adjust your strategy or expectations to today's market, leading to costly mistakes. 
Here's a look at some of the most common ones—and how The Aaronson Group can help you avoid them when you sell.  
1. Overpricing your house 
Many sellers set their asking price too high, so there's an uptick in homes with price reductions today. An unrealistic price will deter potential buyers, cause an appraisal issue, or lead to your house sitting on the market longer. An article from…

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Housing Market Forecast: What’s Ahead for the 2nd Half of 2024

  As we move into the second half of 2024, here’s what experts say you should expect for home prices, mortgage rates, and home sales. 
Home Prices Are Expected To Climb Moderately  Home prices are forecasted to rise at a more normal pace. The graph below shows the latest forecasts from seven of the most trusted sources in the industry: 
    The reason for continued appreciation? The supply of homes for sale. Jessica Lautz, Deputy Chief Economist at the National Association of Realtors (NAR), explains: 
“One thing that seems pretty solid is that home prices are going to continue to go up because we don’t have housing inventory.”    While inventory is up compared to the last few years, it’s still low overall. And because…

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Should I Sell This Summer or Wait?

  Predicting the housing market can be challenging, but we at #theaaronsongroup do have valuable insights to share. Many of our clients reach out for help in navigating the current housing market.   Common questions we receive: - Should I sell now or later? - Will interest rates drop and how will this affect prices?   Inventory is already up 30% compared to 2023; experts predict the number of homes entering the market will continue to rise. We may finally be breaking out of the historically suppressed level of inventory since the Pandemic. This trend will likely impact the appreciation of your home's value. However, real estate trends are highly localized, it’s important to stay…

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Real Estate Is Still the Best Long-Term Investment [INFOGRAPHIC]

• If your needs have changed, now’s a great time to sell and get the features you want most.
• Many buyers are eager to move between the school years, so you may see a faster sale, multiple offers, a higher final sales price, and more.
• If you want to get your house ready for a summer listing, connect with The Aaronson Group for any questions or concerns. Call: 949-388-5194 or email info@previewochomes.com

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The Sweet Spot for Buying Luxury Homes

If you’ve been looking for a home at the high end of your market but haven’t found the right one, you may have put your search on hold. But according to recent data, now may be the time to jump back in. Here’s why. 

There Are More Luxury Homes To Choose From 
What’s considered the top-end of the market, or a luxury home, will always vary by location. But generally speaking, their homes are valued in the top 5% of any market. According to a recent report from the Institute for Luxury Home Marketing, the selection of luxury homes is increasing (see graph below): 

As the graph shows, more single-family luxury homes are available now than a year ago. There are even more than there were just a month ago. This increase means you should have a…

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The Sun Is Shining on Sellers This Summer [INFOGRAPHIC]

Some Highlights

• According to a recent poll from Gallup, real estate has been voted the best long-term investment for twelve straight years.
• That’s because a home is so much more just than a roof over your head. It’s also an asset that typically grows in value over time. 
• If you’ve been debating if it makes more sense to rent or buy, connect with The Aaronson Group to talk about why homeownership can be a better bet in the long run. Call us at 949-388-5194 or email us at info@previewochomes.com

• If your needs have changed, now’s a great time to sell and get the features you want most.
• Many buyers are eager to move between the school years, so you may see a faster sale, multiple offers, a higher final sales price, and more.
…

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