HOUSING FORECAST: Sunny with chance of increasing prices

by qinfokusuma 10. September 2014 08:36

san gabriel valley housing forecast homes

The housing market forecast for the rest of this year? Steadily increasing home prices!

For many, this might be hard to believe. Following the housing market crash, homeowners have heard only bad news when it comes to real estate. For the last five or six years, the news has focused on diminished home prices, lost equity and foreclosures. After so long, many simply don’t believe that good news about the real estate market is possible.

However, in the last couple of years, the housing market has recovered dramatically. In 2013, home prices often increased by double-digit percentages in monthly year-over-year comparisons. In fact nationwide, prices increased by 10.9 percent in 2013 compared to 2012 .

While we are not seeing the double-digit growth we saw last year, so far 2014 has brought steady, consistent growth and will continue to do so. Most estimates expect prices to increase between three to five percent in 2014.

For homeowners, this is tremendous news. When the housing market crashed, many homeowners lost all equity in their home. For some, this meant they were underwater, or owed more on their mortgage than the property was worth. Others were forced to wait to sell their homes until the market improved. Today, these homeowners are finding that they again have equity.

What’s more, the market conditions driving prices up have also tilted the market in favor of sellers. Homeowners who have been waiting to sell are often shocked to learn just how much their homes are worth today.

Let’s take a look at the reasons why home prices are increasing, and why, if you are considering selling your home, you should consider selling sooner rather than later!

There are Fewer Distressed Properties on the Market

fewer distressed sales

Between 2007 and 2008, millions of homeowners suddenly found themselves in a difficult situation. The recession caused financial hardship for many families. Struggling to pay their mortgage, these families looked to sell their homes. However, because prices dropped so sharply, they found they owed more than their homes were worth.

These homeowners, called “distressed” homeowners, numbered in the millions. Unable to pay their mortgages, some lost their homes to foreclosure while others were able to sell their homes in a short sale. Until recently, the large availability of low-priced distressed properties kept all property prices low.

As the economy and housing market have improved, the number of distressed properties has dwindled. Increasing home prices and home equity mean fewer homeowners are in danger of losing their homes.

Additionally, investors have and continue to buy-up distressed properties, taking advantage of low prices and mortgage rates. The result is that today, there are fewer distressed properties on the market than at any time since the peak of the housing crisis in 2008. This means they are weighing less heavily on prices, allowing homeowners to ask more for their homes!

There are not Enough Properties to Meet Demand

supply and demand real estate san gabriel valley

In general, the real estate market needs a six-month supply of homes to provide a balance between buyers and sellers. This means that at the current sales pace, it would take six months to sell all of the properties on the market. This year, however, inventory has hovered between four and five months. This lack of inventory is one of the main reasons home prices have increased so quickly and will continue to increase.

Inventory remains low for several reasons. First, during the housing crisis, the construction of new homes fell significantly. While builders have ramped up new home construction recently, many of the new homes won’t be available until 2015. Additionally, severe and unusual weather conditions slowed progress on new construction this year.

At the same time, some homeowners remain reluctant to sell. Many homeowners bought their homes at the peak of the market, and want to recoup as much equity in their home as possible before selling.

More and More People are Looking to Buy Homes

more foot traffic home buyers in san gabriel valley

While inventory remains low, the demand keeps increasing. Today, homes are incredibly affordable. Interest rates remain historically low, and home prices are still below their peak prices. The affordability of homes opens the door for many people to buy homes.

With low-inventory and high-demand, the market has become a seller’s market. What’s more, rising mortgage rates and home prices have created a sense of urgency amongst buyers, putting those selling a home in great position. Due to the lack of properties on the market, buyers often start bidding wars over the few homes available. In fact, today, homes stay on the market for around only 60 days, and often homes sell for over asking price!

Home Prices will Continue to Rise, but the Market will Balance

While home prices will continue to increase this year, the slowdown in the pace of increases signifies the rebalancing of the market.

As 2014 progresses, inventory is expected to increase. The new inventory will come from several places. Towards the end of the year and into 2015, new home construction will regain full momentum. Additionally, as homeowners regain home equity, they will be able to sell their homes, releasing pent-up supply.

At the same time, rising home prices and mortgage rates will slow demand as the urgency to capitalize on record low prices and rates fades.

If You’re Thinking of Selling Your Home, Act Now!

The reality is that home prices have recovered. So if you’ve been putting off selling a home until the housing market rebounded, today may be the day.

Home sellers: find out what homes down the street sold for! Free computerized list with maps and pictures of area home sales and current properties available for sale. Free recorded message, call 1-888-300-4632, enter ID# 1041. You can also access this online at www.MyAreaHomeSalesReport.com

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PRESS RELEASE | Real Estate News | Special Reports - Buyers | Special Reports - Home Sellers

Coming Soon! Beat out other buyers to Hot New Homes For Sale & SAVE THOUSANDS

by qinfokusuma 4. September 2014 15:38

 

Join TEAM NUVISION VIP CLUB TODAY!!!

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Here's a sneak peek of some of the upcoming new homes in the area!

 

 

 

Join TEAM NUVISION VIP CLUB TODAY!!!

* EXCLUSIVE PRE-LAUNCH Events - Get in the Builders Exclusive Guest List - Be the first to know about San Gabriel Valley and SoCal's HOTTEST new developments!

* VIP PRICING - Receive Special VIP Pricing - SAVE THOUSANDS!

* FIRST SELECTION - Receive the best possible selection on your home, before the public! Be the first to see unique floor plans, stunning cutting edge finishes and the latest trends in innovative architectural design.

 

Click here to Join The TEAM NUVISION VIP CLUB 

 

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New Homes | VIP Buyers Benefits

Accredited Buyer’s Representative

by qinfokusuma 8. August 2014 09:25

August 8, 2014

Alhambra, CA – Rudy L. Kusuma of TEAM NUVISION has been awarded the Accredited Buyer’s Representation (ABR) designation by the Real Estate Buyer’s Agent Council. (REBAC) of the NATIONAL ASSOCIATION OF REALTORS (NAR).

Rudy and his team joins more than 30,000 real estate professionals in North America who have earned the ABR designation. All were required to successfully complete a comprehensive core course in buyer representation and an elective course focusing on a buyer representation specialty, both in addition to submitting documentation verifying professional experience and specific sales performance goals in representing home buyers in successful home purchase transactions in the last three years, and passing a written examination with a high degree of accuracy.

REBAC, founded in 1988, is the world's largest association of real estate professionals focusing specifically on representing the real estate buyer. There are more than 40,000 active members of the organization world-wide. THE NATIONAL ASSOCIATION OF REALTORS, "The Voice for Real Estate," is the world's largest professional association, representing over 1,000,000 members involved in all aspects of the real estate industry. 

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Rudy lira kusuma of TEAM NUVISION awarded the prestigious Accredited Buyers Representation ABR designation

 

 

Rudy guarantee my home sold for more money

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Awards

The Seller Representative Specialist Designation (SRS)

by qinfokusuma 7. August 2014 14:14

Selling your home is a major decision and requires planning, preparation and an experienced and credentialed REALTOR®.

The Seller Representative Specialist Designation (SRS) is the premier professional credential for real estate professionals representing sellers in housing transactions. A SRS understands your perspectives and is qualified and committed to helping you achieve a successful transaction.


Seller Representative Specialist Designation

8 Reasons to List With a Seller Representative Specialist (SRS):

1. SRS designees are members of an elite group of trained seller client advocates that know the importance of your specific needs by using Seller Counseling Sessions to ensure all needs are addressed.

2. SRS designees concentrate their efforts on your ultimate goals to ensure you at the center of the sale.

3. SRS designees are extensively trained in a wide variety of manual and electronic marketing methods to uniquely promote your property to the widest range prospective purchasers.

4. SRS designees understand that negotiation skills are critical to a successful transaction and are trained to position ensure you receive the best possible outcome during negotiations of the sale.

5. SRS designees adhere to the highest level of professional ethics and business practices in delivering ‘Client Level’ services with integrity.

6. SRS designees are uniquely qualified to exceed your expectations and yield your trust.

7. SRS designees know the importance of staging your property for best results. Staging is a critical component, along with accurate pricing, to attain desired results within a timely manner.

8. SRS designees have an advanced level of understanding on how to collaborate with a variety of cooperating agents of all skill levels in the marketplace to insure that the ‘best’ buyer has an opportunity to purchase your property.



Rudy L Kusuma awarded SRS Sellers Representative Specialist

Your Home Sold GUARANTEED or I'll Buy it CASH!

For a free report that details the inner workings of this exclusive offer, go to www.MyGuaranteedProgram.com

To discuss the sale of your home, call Rudy 626-780-2221

 

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Awards | PRESS RELEASE

VA Loan Benefits

by qinfokusuma 6. August 2014 12:31

Find Out If You Qualify for $0 Down, Low Payments, No PMI, and many other VA Loan Benefits... CLICK HERE


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VA Loans

TNV Drone Promo Video --- VIP Sellers Benefits

by qinfokusuma 31. July 2014 04:38


Your Home Sold GUARANTEED or I'll Buy it CASH!

For a free report that details the inner workings of this exclusive offer,
go to www.MyGuaranteedProgram.com
To discuss the sale of your home, call Rudy 626-780-2221

 

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VIP Sellers Benefits

VIP Buyers Benefits - Close on time or we'll pay you $795 cash!

by qinfokusuma 21. July 2014 19:31

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VIP Buyers Benefits

VIP Sellers Benefits - Move up buyers - LOCK RATES FOR 4 MONTHS!

by qinfokusuma 18. July 2014 13:55

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VIP Sellers Benefits

GIVE BACK HOMES Program

by qinfokusuma 18. July 2014 09:54

rudy lira kusuma give back homes

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General | Your Referrals

THE MIRACLE HOUSING MARKET: Why today is a great time to sell, and a great time to buy.

by qinfokusuma 13. July 2014 09:03
rudy lira kusuma real estate broker

After years of hearing nothing but doom and gloom about the real estate market, it’s hard to believe that today all of the news is about the “housing market rebound” and “why now is a great time to buy or sell a home.” The housing market has recovered much faster than anyone imagined, and it’s taking people by surprise.

After the years of bad news, many people considering buying or selling a home gave up on the idea. For some, the housing market crash meant they lost all of the equity in the their home. Others found themselves underwater on their mortgage. The housing crisis also dissuaded many potential buyers, and the economic recession put buying a home out of reach for many more.

As the housing market recovery receives more attention, however, more and more people are realizing that today’s housing market provides amazing opportunities for both home sellers and homebuyers. Those looking to sell their homes are shocked to learn just how much equity they’ve gained back in their homes. Potential homebuyers are amazed by just how low interest rates are and how high home affordability is.

If you’ve been waiting to buy or sell a home, wait no longer. Today’s housing market provides unique opportunities that may not last. Let’s take a closer look at the reasons why now is a great time to buy or sell.

Why Now Is a Great Time to Buy

1) Home Affordability
For many homebuyers, the first question when looking for a home is “can I afford this?” Homes are more affordable today than they have been in decades. Home affordability is measured by the ability of a family earning the national median income to purchase a home priced at the national median home sale price. And according to the CoreLogic Case-Shiller Indexes Report, housing affordability was near a 40-year high at the end of the third quarter of 2013. High home affordability is placing homeownership within the reach of more and more people. However, home affordability is expected to take a hit as the year progresses and both home prices and interest rates continue to rise in 2014. So if you’re considering purchasing a home, it’s important to act sooner rather than later.

case shiller real estate index

2) Low Interest Rates
When the housing market crashed, mortgage rates plummeted along with it. In January 2013, the average mortgage rate was 3.41 percent compared to 6.22 percent in January 2007—a historic low for mortgage rates. Low mortgage rates have helped keep home affordability high and mortgage payments low. These record low interest rates, however, won’t last forever. Already in March 2013, the average interest rate increased to 4.28 percent, and rates are expected to rise by as much as a percentage point in 2014. So if you’re considering buying a home, act soon. Slight increases in mortgage rates can have a significant effect on the size of mortgage payments, so take advantage of today’s rates while they last. 

low interest rate

 

3) Buying is Cheaper than Renting
Low interest rates and home affordability have made owning a home cheaper than renting one in all 100 large U.S. metropolitan areas. In fact, according to Trulia’s Rent vs Buy report, owning a home is 38% cheaper than renting. If you’re looking to buy a home, there’s no better time than now!

rent rise

 

 

 

Why Now Is a Great Time to Sell

1) Seller’s Market
As you can see from the previous section, now is a great time to buy a home. Low interest rates and high home affordability are attracting large number of homebuyers into the market. However, while demand rises, the number of houses on the market remains low. In January 2014, there were 1.90 million existing homes available for sale. This represents a 4.9-month supply, where a 6 to 6.5-month supply represents a balance between buyers and sellers. High demand and limited inventory has created a seller’s market. What’s more, slight increases in interest rates are driving buyers to act with urgency, making competition over the limited inventory common. These market conditions are allowing homeowners to receive more for their homes and make now a great time to sell a home.

sellers market in san gabriel valley by rudy lira kusuma

real estate sellers market in san gabriel valley


2) Home Prices Have Recovered
Homeowners who explore selling their homes are often surprised to find out how much their home is worth today. The same conditions that have created a seller’s market have helped drive home prices up. In January 2014, the median existing-home price was up to $188,900, up 10.7 percent from January 2013. Housing prices recovered faster than anyone expected. For many homeowners, it means having equity in their home for the first time in years. If you want to sell your home but have not been able, it’s important to reevaluate your situation. Your situation may have improved more than you think.

san gabriel home prices


3) The Number of Homes for Sale is Increasing
In 2014, appreciation has slowed slightly. While 2013 saw double-digit growth, CoreLogic predicts home prices to rise closer to 4.2% from January 2014 to January 2015.

2014 pending home sales in san gabriel valley

new home sales by rudy lira kusuma

The slowing of appreciation is attributed to many factors, but chief among them is an increase in the number of homes for sale. As demand continues to increase, more people are expected to put their homes on the market. Many homeowners have equity for the first time and years and are finally able to sell their homes. Others that have been waiting for the market to improve are beginning to realize that it has.

New home starts are also up. In 2013, homebuilders started construction on slightly under 1 million homes, and even more new homes are expected this year. When these homes hit the market, they will add to the inventory, reducing the amount of leverage home sellers have in the market.

 

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Special Reports - Buyers | Special Reports - Home Sellers

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