Richard Wamsat’s Real Estate News & Views
Local market updates, buyer and seller tips, and homeowner resources for Orange County and Irvine.
Experts Agree: Options Are Improving for Buyers [INFOGRAPHIC]
Some Highlights Buyers hoping for more homes to choose from may be in luck as housing inventory begins to rise. Many experts agree – new sellers listing their homes is great news for buyers and the overall market. Although the supply increases are modest, more homes mean more options for buyers. A rise in inventory may also help slow the price […]
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Diving Deep into Today’s Biggest Buyer Concerns
Last week, Fannie Mae released their Home Purchase Sentiment Index (HPSI). Though the survey showed 77% of respondents believe it’s a “good time to sell,” it also confirms what many are sensing: an increasing number of Americans believe it’s a “bad time to buy” a home. The percentage of those surveyed saying it’s a “bad time to buy” hit […]
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Housing Supply Is Rising. What Does That Mean for You?
An important factor in today’s market is the number of homes for sale. While inventory levels continue to sit near historic lows, there are indications we may have hit the lowest point we’ll see. Odeta Kushi, Deputy Chief Economist at First American, recently said of our supply challenges: “It looks like inventory may have hit a bottom (we’ve seen this in […]
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Why This Isn’t Your Typical Summer Housing Market
In real estate, it’s normal to see ebbs and flows in the market. Typically, the summer months are slower-paced than the traditionally busy spring. But this isn’t a typical summer. As the economy rebounds and life is returning to normal, the real estate market is expected to have an unusually strong summer season. Here’s how […]
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4 Major Incentives To Sell This Summer
While the housing market forecast for the second half of the year remains positive, there may not be a better time to sell than right now. Here are four things to consider if you’re trying to decide if now’s the right time to make a move. 1. Your House Will Likely Sell Quickly According to the most […]
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Your Home Equity Can Take You Places [INFOGRAPHIC]
Some Highlights The amount of wealth Americans have stored in their homes has increased astronomically. On average, homeowners gained $33,400 in equity over the last 12 months, and the average equity on mortgaged homes is now $216,000. When it’s time to sell, your home equity can help accomplish your goals. Let’s connect to discuss how you can take advantage of today’s […]
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Selling Your House? Make Sure You Price It Right.
There’s no denying we’re in a sellers’ market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR): Homes typically sell within 17 days (compared to 26 days one year ago). The average home sold has five offers to pick […]
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The Truths Young Homebuyers Need To Hear
For many young or first-time homebuyers, purchasing a home can feel intimidating. A recent survey shows some homebuyers ages 25 to 40 may be unsure about the homebuying process and what they can afford. It found: “1 in 4 underestimated their buying potential by $150k or more” “1 in 4 underestimated the increase in value by $100k […]
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A Look at Home Price Appreciation Through 2025
Home prices have increased significantly over the last year, which in turn has grown the net worth of homeowners. Appreciation and home equity are directly linked – as the value of a home increases, so does a homeowner’s equity. And with these recent gains, homeowners are witnessing their financial stability and well-being grow to record levels. In […]
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