Preview Orange County Real Estate Blog - The Aaronson Group

There Won't Be a Wave of Foreclosures in the Housing Market

 When mortgage forbearance plans were first announced and the pandemic surged through the country in early 2020, many homeowners were allowed to pause their mortgage payments. Some analysts were concerned that once the forbearance program ended, the housing market would experience a wave of foreclosures like what happened after the housing bubble 15 years ago. 

Here’s a look at why that isn’t the case. 

1. There are fewer homeowners in trouble this time 

After the last housing crash, over nine million households lost their homes to a foreclosure, short sale, or because they gave it back to the bank. Many believed millions of homeowners would face the same fate again this time. 

However, today’s data shows that most…

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Expert Insight on the 2022 Housing Market

As we move into 2022, both buyers and sellers are wondering, what’s next? Will there be more homes available to buy? Will prices keep climbing? How high will mortgage rates go? For the answer to those questions and more, we turn to the experts. Here’s a look at what they say we can expect in 2022. 

Odeta Kushi, Deputy Chief Economist, First American: 

“Consensus forecasts put rates at about 3.7% by the end of next year. So, that’s still historically low, but certainly higher than they are today.” 

Danielle Hale, Chief Economist, realtor.com: 

“Affordability will increasingly be a challenge as interest rates and prices rise, but remote work may expand search areas and enable younger buyers to find their first…

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Home Sales About to Surge? This Winter Could Be a Record Breaking!

Real estate, like most industries, has a season where more homes are sold during a specific time of the year. The number of homes sold in the spring is almost always much greater than at any other time of the year. It’s called the spring buying season. Historically, the number of buyers and listings for sale significantly increase in the spring and remains strong throughout the summer. Once fall sets in, the number of buyers and sellers typically drops off. 

During 2020, however, that seasonality didn’t happen. The outbreak of Covid and subsequent slowing of the economy limited sales during the spring market. The home sales last fall and winter saw a dramatic increase in home sales over previous years. The only thing that held the market…

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Does Your House Have What Buyer's Want?

More remote work means a greater need for home offices 

The rise in remote work is changing what many American homeowners want in their homes. Many large companies are not reopening their offices and keeping their employees remote full-time, and so that means today’s buyers are looking for homes with more space to support their work needs. 

As a seller, if you no longer need the extra room you have in your home, there are buyers who want your extra space. 

Remote work remains a reality for many Americans. A recent poll from Garter, inc. This shows many organizations have not yet returned their offices: 

“. . . 66% of organizations are delaying reopening their offices due to new covid-19 variants.” 

And a…

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Win When You Sell (And When You Move)!

If you’re trying to decide when to sell your house, this winter may be your best chance.  Selling at this time means you can take advantage of today’s strong sellers’ market when you make a move. 

Win when you sell 

Right now, conditions are extremely favorable for current homeowners looking for a change. If you sell now, here’s what you can expect: 

Your house will stand out – while recent data shows inventory may increase this coming winter, there are still more buyers in the market than there are homes for sale. If you sell your house now before more houses are listed, it will get more attention from serious buyers who are eager to find a home. 

Your house will likely get multiple offers, buyers have to…

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Reasons to Hire a Real Estate Professional [Infographic]

Choosing the right real estate professional to work with is one of the most important decisions you can make when buying or selling property. The right agent can explain current market conditions and present your best courses of action. If you’re considering buying or selling a home soon, contact us for answers to all of your questions about pricing, contracts, negotiations, and more.

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Housing Market Predictions for End of Year 2021 and 2022

 While 2021 had its moments of turbulence, the real estate market exceeded expectations and broke records along the way. 

So the question is: will the 2022 housing market continue to follow the same trajectory, or are we facing a possible downturn? 

Let’s see what leading real estate experts are projecting for the final quarter of 2021 and what to expect in 2022 so you will be prepared if you make any real estate changes in 2022. 

HOUSING MARKET FORECAST 

Here’s what experts are saying about what’s going to happen with real estate for the rest of 2021: 

• Interest rates are rising but projected to stay low 

• One of the biggest drivers for 2021’s booming real estate market was record-low mortgage…

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Multigenerational Housing Is Gaining Momentum [Infographic]

If your house is feeling a little cramped with the addition of adult children or aging parents, it might be time to consider a move-up into a multigenerational home that better suits your changing needs.

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How Smart Buyers Are Approaching Rising Mortgage Rates

If you’re thinking of buying a home, here are a few things to keep in mind even as mortgage rates rise. 

The average 30-year fixed mortgage rate from Freddie Mac inched up to 3.1%, and experts project rates will continue rising through 2022: 

“The 30-year fixed-rate mortgage was 2.9% in the third quarter of 2021. We forecast mortgage rates to increase slightly through the remainder of the year and reach 3.0%, rising to 3.5% for full-year 2022.” 

Taking Time Off Can Be Costly 

Mortgage rates play a significant role in your home search.  And even the smallest increase can have a large impact on your monthly payment (see chart below): 

Instead of waiting and hoping rates will fall,…

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The Power of Mortgage Pre-Approval [INFOGRAPHIC]

Mortgage pre-approval means a lender has reviewed your finances and, based on factors like your income, debt, and credit history, determined how much you’re qualified to borrow.  Being pre-approved for a loan can give you clarity while planning your homebuying budget, confidence in your ability to secure a loan, and a competitive edge in a bidding war.  In today’s market, connecting with a lender to get pre-approved may be the game-changer that helps you secure your dream home.

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