OC-Appraisals Ca Real Estate News

OC-Appraisals, Orange Co, Ca Residential Appraiser
October 22, 2018  Monthly Newsletter  
Challenges in Today's Housing Market
                                                                                                                                                     


                                                                                 
Challenges in Today's Housing Market
       
       

2018 has seen many changes:  

  • New Tax Laws
  • Mortgage Interest rate increases
  • Stock Market in Flux
  • Import/Export tariffs proposals 
  • Reduced inventory
  • Fire storms and Hurricanes
  • Increase in utilities (SDGE) rates in some areas
  • Current Market Values at or near the high values in 2006-2007 
  • The 10 year anniversary of the Financial Meltdown

What do any of these factors have to do with the Current Housing Market?
Are we on the verge of another "Bubble Burst"?
I don't think any of our "Crystal Balls" can tell us.
We may be looking at the "New New". 
 

Here are  some of the market data points to consider:

                      

  • Inventory levels
  • Days on the market
  • Were there Multiple offers
  • Price reductions
  • Lower Original List prices compared to Closed Prices
  • Seasonal: was the prior spring/summer season was different this year from last year?
  • Prior 2-3 year sales and listing data
  • Market high - low ranges for all the wide range of products in each market.
  • Most IMPORTANT QUESTION: Can you re-sale this property (10-90 days after the contract or COE date), for the same price/dom, with or with out any "sweeteners".

The value of the dollar or purchasing power is decreasing over time
Have you seen a decline or increase in the number of Foreign purchasers or investors in the last 6 months?
Foreign & Investor buyer's hedge against future inflation and low returns on alternative investments.
Zillow - How are their "report market values" changing how potential buyer's/seller view the market?

My head is spinning around, just thinking about everything we as Real Estate Professionals, must pay attention to.

Market changes do not always change as quickly as the Sept 2007 period.
Have potential buyer's attitude changed from the 2002-2007 season?
Are potential buyers not as quick to purchase, more educated about purchasing and financing,
Are they willing to take their timelooking for the "perfect" home, price, location, interest rate ?


 
On to happier thoughts Halloween, my favorite time of the year!
Have a Safe October.

 

 

Enjoy


If you have any comments ,I'd like to hear from you.

Happy Fall!
      

                                                                                                                              

 Susan Sauer
www.oc-appraisals.com
       

 

 

 

 


Posted by Susan Sauer on October 22nd, 2018 2:42 AMLeave a Comment

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