Saturday, February 21, 2015

Inventories Tighten Up Again

Inventories Tighten Up Again

Home owners aren’t selling, and the lack of housing inventory is restraining numerous markets across the country,® reports in its January National Housing Trend Report. The report tracks list price and inventory fluctuations for properties listed on® in 200 markets.

Inventory of homes for sale fell in January, decreasing 6.7 percent month-over-month and 8.7 percent year-over-year.
“Most markets are struggling to achieve the proper balance of homes for sale and qualified buyers,”® notes in its report. “Low inventory has become a national challenge as home owners opt to stay put longer — a record 10 years — rather than move up and move on.”
About 80 percent of the housing markets tracked saw a drop in inventory levels, the report showed. Prices will continue to rise in markets where demand outstrips supply, says Jonathan Smoke, chief economist at®.
Inventories have had the steepest year-over-year decreases in Las Vegas-Henderson-Paradise, Nev. (down 37%); Key West, Fla. (-36%); Colorado Springs, Colo. (-36%); Palm Bay-Melbourne-Titusville, Fla. (-35%); and Columbus, Ohio (-35%).
Despite inventory drops, the housing outlook remains rosy, particularly for sellers,® notes. Many housing markets are appreciating in value as homes sell faster. The median asking price in January was $211,000, an 8.8 percent rise year-over-year. Also, homes spent about 103 days on the market in January, a 4.6 percent decrease year-over-year.® singled out four cities as emerging bright spots in housing: Jersey City, N.J.; Jacksonville, Fla.; Pittsburgh; and Tampa, Fla. All four cities have achieved an optimal balance of supply and demand,® notes in its report. The four cities are seeing 14 percent price increases while also adding 4 percent more houses to the market.
“All four of these markets have very positive economic momentum: strong job recovery, growth in new construction, healthy growth in home prices, and growth in sales and positive demographic trends,” Smoke says.

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Friday, February 20, 2015

Bet on These Home Improvements in 2015

Bet on These Home Improvements in 2015

If you're considering giving your home an upgrade this year, it can be overwhelming to choose what home features need an overhaul. Trends seem to change all the time, and the last thing you want is to spend money on costly improvements that will soon be out of date.
Real estate brokerage Redfin recently analyzed home features that are most desirable to potential home buyers. First, they asked local real estate agents to take note to what features were cropping up the most on home tours. Then they searched for those design keywords and took note of what trends experienced the most growth in popularity in the last five years.
So what seven home improvements made their list of the safest bets?
  1. Quartz Countertops: For years it was all about the granite counters, but it appears that quartz is all the rage these days for buyers. According to Redfin, quartz has experienced a huge increase since 2012, due to its durability and overall buyer granite fatigue.
  2. Smart Homes: While Smart Home design is overall still a niche with buyers, it's a phrase that has experienced an explosion in listing mentions since 2012. Redfin agents caution that buyers really need to choose a smart home system with the most up-to-date software since smart home technology is rapidly evolving.
  3. Stainless Steel Appliances: This trend is here to stay, and it has only increased in popularity since 2011. According to a Redfin agent, stainless steel is "the gold standard for kitchens these days" and it appears to be a very safe home improvement bet.
  4. Fire Pits: Buyers are still interested in turning their backyards into relaxing areas with multiple focal points that encourages interaction and socializing, and adding a fire pit remains a popular upgrade.
  5. Tasting Rooms: In the high-end and luxury market, the term "tasting" has slowly increased in listings over the last five years. In the past, buyers hid their wine cellars away from the main focal point of the house, but these days they're requesting tasting rooms that are adjacent to the main socializing rooms of the house, such as the kitchen and living rooms.
  6. Outdoor Kitchens: Along with fire pits, outdoor kitchens and multi-use backyard areas have only gained in popularity, especially for high-end buyers who mention socializing in the home as a priority. According to Redfin, "Backyards are becoming places to lounge during the summer, with full kitchens, fireplaces and televisions."
  7. Freestanding Tubs: The days of the space-saving combined shower and tub are over, at least for luxury buyers. Redfin reports that the term "freestanding tub" has increased dramatically since 2011, as buyers want a bathroom that's more reminiscent of a spa.
And lastly, one trend that is seemingly on its way out? Exposed brick. According to Redfin, mentions of exposed brick in listings peaked back in 2013, and they caution that other than loft homes, buyers' interest in exposed brick is waning.
#morenovalley #realestate #ranchobelago #riverside #realtor #homes

Thursday, February 19, 2015


Moreno Valley Homes for Sale

If you own a home in the Moreno Valley area, you need this in today's real estate market!
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My Team Is #1 With Buyers & Sellers

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My Team Is #1 With Buyers & Sellers in Our Market
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Sunday, February 15, 2015


Time is literally MONEY.
The real estate market is on a rocket ship ride. I suggest you prepare yourself for the following:
1. If you do not get into escrow now, waiting 30 days will cost another $10,000 in OC and $5,000 in IE.
2. If you are not seeing it yet, within weeks you will become frustrated with virtually every offer you want to present.... because it will be competing with multiple offers.
3. As you know, multiple offers will increase the prices buyers have to pay.
4. Offers will not be accepted in multiple offer situations without having been pre-approved.
5. Consider removing appraisal contingencies if you are not buying FHA or VA.
6. Offer full price over the next few weeks. Within a month you will need to be offering them over full price.
Let's talk about your next move today. Contact me at 951.259.0764 or

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