Preview Orange County Real Estate Blog - The Aaronson Group

Checklist for Selling Your House This Spring [INFOGRAPHIC]

Some Highlights 

• As you get ready to sell your house, there are specific things you can add to your to-do list. 

• These include decluttering, taking down personal photos and items, and power washing outdoor surfaces. 

• Connect with The Aaronson Group for advice on what you may want to do to get your house ready to sell this season. Call 949-388-5194 or email info@previewochomes.com

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Why Today's Housing Market Isn't Headed for a Crash

67%of Americans say a housing market crash is imminent in the next three years. With all the talk in the media lately about shifts in the housing market, it makes sense why so many people feel this way. But there’s good news. Current data shows today’s market is nothing like it was before the housing crash in 2008. 

Back then, mortgage standards were less strict 

During the lead-up to the housing crisis, it was much easier to get a home loan than it is today. Banks were creating artificial demand by lowering lending standards and making it easy for just about anyone to qualify for a home loan or refinance an existing one. 

As a result, lending institutions took on much greater risk in both the person and the mortgage…

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Number of Homes for Sale Up from Last Year, but Below Pre-Pandemic Years

The biggest challenge in the housing market right now, and likely for years to come, is how few homes there are for sale compared to the number of people who want to buy. That’s why this is a great time to do so if you’re thinking about selling your house. Your house would be welcome in a market with fewer homes for sale than it did in the years leading up to the pandemic.

According to the latest monthly housing market trends report from realtor.com:
There were 65.5% more homes for sale in January compared to the same time in 2022, which means that there were 248,000 more homes available to buy this past month compared to one year ago. However, while the number of homes for sale is increasing, it is still 43.2% lower than before the pandemic in…

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Lower Mortgage Rates Are Bringing Buyers Back to the Market

As mortgage rates rose last year, activity in the housing market slowed down. And as a result, homes started seeing fewer offers and stayed on the market longer. Unfortunately, that meant some homeowners decided to press pause on selling.  However, rates are now declining—and buyers are starting to reenter the market. The latest data from the mortgage bankers association (MBA) shows mortgage applications increased last week by 7% compared to the week before.

So, if you’ve been planning to sell your house but are unsure if there will be anyone to buy it, this shift in the market could be your chance. Here’s what experts say about buyers returning to the market as we approach spring.

Mike Fratantoni, SVP and chief economist, MBA:
“Mortgage…

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What’s Happening with Foreclosures?

Media headlines can be incredibly confusing right now, especially regarding what’s happening with foreclosures. 

In today’s market, you must understand what’s going on and can bring clarity to discussions with your clients as an educated agent. 

Watch Kate Rezabek, KCM’s Vice President of Research and Content Strategy, as she goes over what the data says and why we won’t see a wave of foreclosures coming to the market. 

Watch it now  to ensure you can accurately answer client questions and calm any fears in the wake of these headlines. 

Contact The Aaronson Group for all of your housing needs and real estate questions. 

Call:  949-388-5194 or email: info@previewochomes.com

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What's Really Happening with Home Prices? {INFOGRAPHIC}

• If you're considering selling your house, recent headlines about home prices falling month-over-month may have you second-guessing your decision—but perspective matters.
• While home prices are down slightly month-over-month in some markets, home values are still up almost 10% nationally annually. A nearly 10% gain is still dramatic compared to the more normal level of appreciation, which is 3-4%.
• Reach out to The Aaronson Group  to find out how much equity you have in your current home and how you can use it to fuel your next purchase.

          Call:  949-388-5194 or email: info@previewochomes.com

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Have Home Values Hit Bottom?

Whether you're already a homeowner or looking to become one, the recent headlines about home prices may leave you with more questions than answers.

First, news stories are talking about home prices falling, raising concerns about a repeat of what happened to prices in the crash in 2008.
Based on those headlines, one of the questions on many minds is: how much will home prices decline? But you may need to realize that expert forecasters aren't calling for a free price fall. If you look at the latest data, it's possible that the most significant portion of month-over-month price depreciation nationally may already be behind us – and even those numbers weren't substantial declines on the national level. So instead of how far will they drop, the…

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Think Twice Before Waiting for 3% Mortgage Rates

Last year, the Federal Reserve took action to try to bring down inflation. Unfortunately, in response to those efforts, mortgage rates jumped rapidly from the record lows we saw in 2021, peaking at just over 7% last October. Hopeful buyers experienced a hit to their purchasing power as a result, and some decided to press pause on their plans.

Today, the rate of inflation is starting to drop. And as a result, mortgage rates have dipped below last year’s peak. Sam Khater, Chief Economist at Freddie Mac, shares: 

“While mortgage market activity has significantly shrunk over the last year, inflationary pressures are easing and should lead to lower mortgage rates in 2023.”
That’s potentially great news if you’re a buyer aiming to jump back into…

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What Past Recessions Tell Us About the Housing Market

It doesn’t matter if you’re someone who closely follows the economy or not; chances are you’ve heard whispers of an upcoming recession. A broad range of factors determines economic conditions, so rather than explaining them each in-depth, let’s lean on the experts and what history tells us to see what could lie ahead. As Greg McBride, Chief Financial Analyst at Bankrate, says:  

“Two-in-three economists are forecasting a recession in 2023 . . .”  

As talk about a potential recession grows, you may wonder what a recession could mean for the housing market. Here’s a look at the historical data to show what happened in real estate during previous recessions to help prove why you shouldn’t be afraid of what a recession could mean…

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What Experts Are Saying About the 2023 Housing Market

If you’re thinking about buying or selling a home soon, you probably want to know what you can expect from the housing market this year. In 2022, the market underwent a significant shift as economic uncertainty, and higher mortgage rates reduced buyer demand, slowed the pace of home sales, and moderated home prices. But what about 2023?

An article from Housing Wire offers this perspective:
Sub-three percent mortgage rates, fast-paced bidding wars, and record-low inventory characterized the red-hot housing market of the past 2 ½ years. But more recently, market conditions have done an about-face. So now is the opportunity for everyone to become re-educated about what a ‘typical’ housing market resembles.

This year, experts agree we may see the…

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