If you saw my video this week, you know I’m excited about the upcoming baseball season and the prospects for my beloved Dodgers. After all, I’ve been a loyal fan for many, many years!
I’m also excited by our incredible real estate market. As I’ve said before, this is a great market for both buyers and sellers. This almost never is the case, but a combination of factors has created this wonderful market.
For sellers, continuing low inventory has allowed sellers to sell quickly for excellent prices, and have the flexibility to make further moves-bigger, or smaller home, relocation, family needs, lifestyle changes can all be accomplished more easily in a market like this.
The surprise is that this is also a great buyers’ market. The reason is interest rates are so low that they more than offset recent sales price increases. As an example, Orange County home prices are about 5% higher than a year ago. However, interest rates are as much 0.75%, or about 19% lower. That means that it actually costs a buyer about 10-15% LESS to buy this year’s home compared to last year’s! (This is a good time to remind buyers that RENTS are also up at least 5%, so buying becomes even more of an excellent idea.
We’re looking forward to hearing from you and your family, and helping you make your real estate dreams come through. Call us 949-500-6365, email Frank@FrankDiLauro.com, Instagram FrankandSusan, or our website (with all our previous blog posts) www.FrankDiLauro.com