Buying real estate, most times, for most people, means you will need to borrow money to do so. Some folks have the “family” support to borrow the money internally. If that is too much of a stretch – some ‘other’ families will gift their kids money for the downpayment and not the total cost of the home. Some parents do even more and pay for the home as an “investment” property and let their kids reside there paying their parents as if they were the bank.
Valuation updates for Real Estate
We have current and past clients who are very interested in what their home’s are currently selling for. I set them up on a system we have for keeping track of their home values. This is like getting a bank statement every month referencing an account – the debits, credits, overages and charges.
My Property Valuation (trackmyequity.com) shows what real estate listings enter the market in their neighborhood. What homes, like their, are selling and how much they are selling for. It also shows what homes in their neighborhood are not able to sell and those which did not make it to the finish line and came back for sale.
Get signed up for your Home Valuation Update:
Our Valuation Updates also indicate if any distressed – foreclosures/short sales – enter the market as being for sale in their neighborhood. I also keep our clients informed as to what homes in their neighborhood did not sell and which had been cancelled and removed from being listed for sale. Price reductions/increases for their neighboring real estate are also advised of.
I sent this to a client of mine asking what I thought of the “rumored” housing bubble building.
I think we will pass values which were hit back in late 2006 and early 2007. Currently we are 10-12% off of peak prices – not quite there yet!I don’t see it bursting due to the employment numbers, low interest rates and fail safe’s in place for those who are lending money. It’s very constrictive.The items keeping this market in a sellers zone are the facts we have very little inventory and Most people considering selling are looking at their current interest rate and not able to make the leap into the 4’s, where rates are currently.Therefore, they are not selling or moving, at least for now.I think the market will do a minor adjustment and become flat for a period of time taking us into first quarter of 2018.I also think that the next time the FED meets they will raise interest rates a bit, not crazy, but enough to get some sellers off of the fence.It’s going to be some time before we see another buyer’s market come about.Be safe my Brother – Please give our best to your family.I’ll be here for anything you need.Except for shoe shopping, I hate shoe shopping 🙂
I really appreciate you taking the time to read our real estate update and listen to our real estate radio show.
I am Connor MacIvor and I have been representing both buyers and sellers of homes and estates since 1998. During that time I have been recording a real estate radio show for the majority of my tenure representing Santa Clarita home buyers and sellers. I have discovered that people hate to uninformed. The same as me. I want to know what is going to happen next and I want my agent, if I weren’t one, to keep me in the loop at every turn within the real estate process.