Jamie Andis’ Post

🏡 Orange County Housing Update: Even in today’s high mortgage rate environment, values have risen year-over-year. According to Freddie Mac’s House Price Index, the Los Angeles/Orange County metro has grown by 6% year-over-year through October. In 2023, home values rose by 8%. The low inventory has continued to place pressure on prices and has not allowed values to plunge despite severe affordability constraints. Today’s United States housing stock is the strongest ever. Ever since the Great Recession, buyers have been purchasing homes with strict qualifications, strong credit, great jobs, and low fixed payments. There is record tappable equity (the amount of equity a homeowner can use for a loan while still retaining 20% equity), record equity rich (50% plus equity), and a record number of homeowners who own their home free-and-clear. There will be no housing crash because of the strength of the homeowner and the limited supply of homes available to purchase. Feel free to reach out if you have any questions or if you'd like to discuss your next move! #WalkerRealEstateGroup #ChrisWalkerRealtor #OCRealtor #ColdwellBankerRealty #OCHousingMarket #OCHousingUpdate

Plot twist: You're looking to buy a home and realize new construction could help you save in a big way. According to the latest data drop from the Census and the National Association of Realtors (NAR), the median sales price for newly built homes is currently lower than the median sales price for existing homes today. ↓  The quick breakdown: • BUILDERS are focused on building what they can sell. And right now, the market is demanding smaller, more affordable homes. • HOWEVER, there are a ton of newly built homes already on the market, so builders are motivated to make sure they’re selling what they’ve got available before adding more. • WHICH MEANS, builders are offering a range of incentives to help move inventory, including competitive mortgage rates, covering closing costs, free finish upgrades, and more. Buying a newly built home just might be the perfect fit for your needs and your budget. What do you think? Would you consider buying new? #YourLocalTwinCitiesRealtor

🏡 Orange County Housing Update: Even in today’s high mortgage rate environment, values have risen year-over-year. According to Freddie Mac’s House Price Index, the Los Angeles/Orange County metro has grown by 6% year-over-year through October. In 2023, home values rose by 8%. The low inventory has continued to place pressure on prices and has not allowed values to plunge despite severe affordability constraints. Today’s United States housing stock is the strongest ever. Ever since the Great Recession, buyers have been purchasing homes with strict qualifications, strong credit, great jobs, and low fixed payments. There is record tappable equity (the amount of equity a homeowner can use for a loan while still retaining 20% equity), record equity rich (50% plus equity), and a record number of homeowners who own their home free-and-clear. There will be no housing crash because of the strength of the homeowner and the limited supply of homes available to purchase. Feel free to reach out if you have any questions or if you'd like to discuss your next move! #WalkerRealEstateGroup #VictoriaCohenRealtor #VictoriaCohenHomes #VictoriaCohenHome #SoCalRealEstate #ColdwellBankerRealty #OCHousingMarket #OCHousingUpdate

Are we approaching another year of housing challenges? As we look ahead to 2025, the housing market does not seem to offer much relief. With existing home sales expected to hover near multi-decade lows, affordability remains a significant concern. While mortgage rates are predicted to decline slightly, they will still linger above 6%, continuing to impact potential buyers. This year's economic backdrop shows promise, yet the “lock-in effect” is likely to keep many homeowners from listing their properties. Interestingly, new home sales might shine as a bright spot in the market, particularly in regions like the Sun Belt where construction is thriving. As we navigate these dynamics, it’s essential to focus on localized market conditions. Understanding that the homebuying experience will continue to vary dramatically by area gives us an edge. Potential buyers in your community need guidance on how to capitalize on temporary opportunities and navigate this complex landscape. Let’s stay proactive and informed so we can better serve our clients in these challenging times. #HousingMarket #RealEstate2025 #AffordabilityIssues #NewHomeSales #FloridaRealtor #MarketTrends

Housing Affordability is Moving in the Right Direction Home affordability has slightly improved for buyers this summer, according to a recent report. The median new mortgage payment was $2,167 in June, a 2.4% decline from $2,219 in May, according to new data from the Mortgage Bankers Association. The index measures how new monthly mortgage payments change over time, relative to income. A decrease in the index shows borrower affordability improved, which can happen when loan application amounts and mortgage rates decrease, or homebuyer earnings grow. “Homebuyer affordability conditions improved for the second straight month as declining mortgage rates continue to increase purchasing power and is enticing some borrowers back into the housing market,” Edward Seiler, MBA’s associate vice president of housing economics, wrote in the release. More from Personal Finance: The Fed’s interest rate cut is coming. What homeowners, buyers need to know.Home insurance premiums rose 21% last year, partly due to climate change.‘Climate gentrification’ fuels higher prices for longtime Miami residents. Lawrence Yun, chief economist and senior vice president of research of the National Association of Realtors, also sees promising indicators for homebuyers. “Housing affordability is improving ever so modestly, but it is moving in the right direction,” he said. Read more here: https://shorturl.at/w9AJr #jlmarsawco #homeowners #realestate #dallashomes #dfwhomes #dallastexas #dallasrealestatemarket #dfwmarket #modernhomes #dallasluxuryrealestate #modernhomes #housingaffordability #homebuyers #interestrate #mortgagepayments #decrease #mckinneyhomes #planohomes #friscohomes #payments #homeaffordability

The S&P CoreLogic Case Shiller LLC US National Home Price Index, a measure of home prices across the country, was released recently and overall homes across the US rose 6.4% in February from last February. Even higher than January's 6.0% increase. This comes as a surprise given mortgage rates moved higher as well! Southern California continues to lead the the charge in appreciation rates. Of the 20 large US cities, San Diego saw the biggest increase in home prices in February, a steep 11.4% rise. Greater Los Angeles came in at 8.7%. So existing home owners throughout California (especially Southern California) continue to build incredible equity in their homes and homeownership continues to slip further away from renters. #realestate #realestatenews #realestate #housingnews #privatemoneylending #privatemoneyloans #investorswanted #housingmarket #privatelending #privatelenders #trustdeed #trustdeeds #realestatefund #realestatefunding

👷♀️ Newly Built Homes Could Be a Game Changer This Spring Buying a home this spring? You’re probably navigating today’s affordability challenges and dealing with the limited number of homes for sale. But, what if there was a solution that could help with both? If you’re having a hard time finding a home you love, and mortgage rates are putting pressure on your budget, it may be time to look at newly built homes. Here’s why. 👉 https://lnkd.in/gmVRSfZ7

🏠 Nearly 40% of Homeowners Priced Out of Their Own Homes Today! 📈 A revealing study by Redfin, a staggering 38% of American homeowners admit they couldn't afford to buy their own homes if they had to do it in today’s market. Why? Home prices have doubled over the last decade, and the spike in mortgage rates has made monthly payments reach record highs. 👉 Key Insights: 59% of respondents have lived in their homes for over a decade, witnessing firsthand the rapid rise in neighborhood prices. A typical new buyer now faces a monthly housing cost of $2,864 at current rates, compared to just $2,210 if rates were as low as they were in 2019. 🏡 Rising prices benefit current homeowners with increased home values but pose significant barriers for potential buyers, especially first-timers who often rely on family help for down payments #homeownership #homeprices #inflation

Plot twist: You're looking to buy a home and realize new construction could help you save in a big way. According to the latest data drop from the Census and the National Association of Realtors (NAR), the median sales price for newly built homes is currently lower than the median sales price for existing homes today. 👀 ↓ 💵 The quick breakdown: • BUILDERS are focused on building what they can sell. And right now, the market is demanding smaller, more affordable homes. • HOWEVER, there are a ton of newly built homes already on the market, so builders are motivated to make sure they’re selling what they’ve got available before adding more. • WHICH MEANS, builders are offering a range of incentives to help move inventory, including competitive mortgage rates, covering closing costs, free finish upgrades, and more. Buying a newly built home just might be the perfect fit for your needs and your budget. What do you think? Would you consider buying new?

Overall, June was a relatively uneventful month for the local housing market. That said, there are signs of changes coming... Mortgage interest rates jumped up in the middle of June but regressed back down to around 7%. The expectations from Fannie Mae, the Mortgage Banker's Association, and the National Association of Realtors are that rates should continue to move downward to around 6.8% by the end of this year. Lower interest rates could provide some much-needed improvement to housing affordability and potentially lead to more home buyers entering the market. The most notable trend is the continued rise in housing inventory. The number of active/unsold listings in Knox County is 30% higher than it was a year ago. Higher housing inventory should continue to put downward pressure on home prices, but for now, the high demand for homes in our area continues to push home prices slightly higher.  #knoxville #housingmarket #homeprices #interestrates #realestate #realestatemarket