Richard Wamsat’s Real Estate News & Views

Local market updates, buyer and seller tips, and homeowner resources for Orange County and Irvine.

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Planning To Retire? Your Equity Can Help You Reach Your Goal.

By Richard Wamsat | Aug 18, 2022

Whether you’ve just retired or you’re thinking about retirement, you may be considering your options and trying to picture a whole new stage of your life. And you’re not alone. Research from the Retirement Industry Trust Association (RITA) shows 10,000 Baby Boomers reach the typical retirement age (65) every day, and only 47% of the people in that generation […]

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Experts Increase 2022 Home Price Projections

By Richard Wamsat | Aug 17, 2022

If you’re wondering if home prices are going to come down due to the cooldown in the housing market or a potential recession, here’s what you need to know. Not only are experts forecasting home prices will continue to appreciate nationwide this year, but most of them also actually increased their projections for home price appreciation from their original 2022 […]

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What Would a Recession Mean for the Housing Market?

By Richard Wamsat | Aug 16, 2022

According to a recent survey from the Wall Street Journal, the percentage of economists who believe we’ll see a recession in the next 12 months is growing. When surveyed in July 2021, only 12% of economists consulted thought there’d be a recession by now. But this July, when polled, 49% believe we will see a recession in the […]

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The U.S. Homeownership Rate Is Growing

By Richard Wamsat | Aug 15, 2022

The desire to own a home is still strong today. In fact, according to the Census, the U.S. homeownership rate is on the rise. To illustrate the increase, the graph below shows the homeownership rate over the last year: That data shows more than half of the U.S. population live in a home they own, and the percentage […]

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Why Experts Say the Housing Market Won’t Crash [INFOGRAPHIC]

By Richard Wamsat | Aug 12, 2022

Some Highlights Many people remember the housing crash in 2008, but experts say today’s market is fundamentally different in many ways. First, there isn’t an oversupply of homes for sale today. Plus, lending standards are much tighter, and homeowners have record levels of equity. That means signs say there won’t be a wave of foreclosures like the last time. If you have questions about […]

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What Does the Rest of the Year Hold for Home Prices?

By Richard Wamsat | Aug 11, 2022

Whether you’re a potential homebuyer, seller, or both, you probably want to know: will home prices fall this year? Let’s break down what’s happening with home prices, where experts say they’re headed, and why this matters for your homeownership goals. Last Year’s Rapid Home Price Growth Wasn’t the Norm In 2021, home prices appreciated quickly. One reason why is that record-low […]

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Is the Shifting Market a Challenge or an Opportunity for Homebuyers?

By Richard Wamsat | Aug 10, 2022

If you tried to buy a home during the pandemic, you know the limited supply of homes for sale was a considerable challenge. It created intense bidding wars which drove home prices up as buyers competed with one another to be the winning offer. But what was once your greatest challenge may now be your greatest opportunity. Today, data […]

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Selling Your House? Your Asking Price Matters More Now Than Ever

By Richard Wamsat | Aug 9, 2022

There’s no doubt about the fact that the housing market is slowing from the frenzy we saw over the past two years. But what does that mean for you if you’re thinking of selling your house? While home prices are still appreciating in most markets and experts say that will continue, they’re climbing at a slower pace because rising […]

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Housing Market Forecast for the Rest of 2022 [INFOGRAPHIC]

By Richard Wamsat | Aug 5, 2022

Some Highlights The housing market is shifting away from the intensity of the past two years. Here’s what experts project for the remainder of 2022. Home prices are forecast to rise more moderately than last year. Mortgage rates will respond to inflation, and home sales will be more in line with pre-pandemic years. Let’s connect so you can make your best move this year.

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