Richard Wamsat’s Real Estate News & Views
Local market updates, buyer and seller tips, and homeowner resources for Orange County and Irvine.
The Cost of a Home Is Far More Important than the Price
Housing inventory is at an all-time low. There are 39% fewer homes for sale today than at this time last year, and buyer demand continues to set records. Zillow recently reported: “Newly pending sales are up 25.5% compared to the same week last year, the highest year-over-year increase in the weekly Zillow database.” Whenever there […]
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Is the Economic Recovery Beating All Projections?
Earlier this year, many economists and market analysts were predicting an apocalyptic financial downturn that would potentially rattle the U.S. economy for years to come. They immediately started to compare it to the Great Depression of a century ago. Six months later, the economy is still trying to stabilize, but it is evident that the […]
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Homes Across the Country Are Selling Fast [INFOGRAPHIC]
Some Highlights Buyers are actively searching for and purchasing homes at a record-breaking pace. According to the latest report from the National Association of Realtors (NAR), in July, 68% of homes were on the market for less than a month. With homes moving from listing day to pending sale in an average of just 22 […]
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How Low Inventory May Impact the Housing Market This Fall
Real estate continues to be called the ‘bright spot’ in the current economy, but there’s one thing that may hold the housing market back from achieving its full potential this year: the lack of homes for sale. Buyers are actively searching for and purchasing homes, looking to capitalize on today’s historically low interest rates, but […]
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The Surging Real Estate Market Continues to Climb
Earlier this year, realtor.com announced the release of the Housing Recovery Index, a weekly guide showing how the pandemic has impacted the residential real estate market. The index leverages a weighted average of four key components of the housing industry by tracking each of the following: Housing Demand – Growth in online search activity Home […]
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Is Now a Good Time to Move?
How long have you lived in your current home? If it’s been a while, you may be thinking about moving. According to the latest Profile of Home Buyers and Sellers by the National Association of Realtors (NAR), in 2019, homeowners were living in their homes for an average of 10 years. That’s a long time […]
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Two New Surveys Indicate Urban to Suburban Lean
There has been much talk around the possibility that Americans are feeling less enamored with the benefits of living in a large city and now may be longing for the open spaces that suburban and rural areas provide. In a recent Realtor Magazine article, they discussed the issue and addressed comments made by Lawrence Yun, […]
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Virtual School Is Changing Homebuyer Needs [INFOGRAPHIC]
Some Highlights With remote learning sweeping the nation this academic year, organized spaces with enough room for kids to learn effectively are high on buyer wish lists. If you’re trying to make room for your family’s growing needs, multi-purpose rooms and dedicated workspaces may be features to consider in your next home. Let’s connect today […]
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Homebuyer Traffic Is on the Rise
One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. There’s strong evidence that […]
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