If you follow the daily real estate headlines, you might be tempted to wonder if purchasing a home is a wise decision right now. Naturally, those of us at Coldwell Banker Residential Brokerage will always believe in the dream of home ownership—but apparently an overwhelming number of homeowners still believe in it too. According to a recent survey by Bankrate.com, 90 percent of respondents said they had no regrets about buying their current home.
Why are so many homeowners happy with their investment? One reason might be that they are much more knowledgeable about mortgages than they were a few years ago. The survey found that only 8 percent of homeowners didn’t know whether they have a fixed-rate or adjustable-rate loan, compared to 26 percent two years ago. These savvy homeowners have most likely observed the events of the last two years and, as a result, have become more educated about the loan process. Since 87 percent of buyers still rely on real estate agents today, our sales associates at Coldwell Banker Residential Brokerage also play a vital role in helping clients understand the homebuying process. We are dedicated to training our sales associates in all areas of real estate and providing them with the resources they need to help clients fully understand the financial responsibilities associated with home ownership. When you have a personal advocate on your side helping you negotiate sales terms or informing you about everything from interest rates to new local market information, wouldn’t you be pleased with the final outcome too?
The Bankrate.com survey findings remind us all that the dream of home ownership is thriving, despite a challenging housing market. Homeowners still place a high value on their houses, both financially and socially. And it’s still up to us, as the nation’s largest real estate company, to help you find, purchase and move into your Southern California dream home.
To contact one of our fine sales associates or to find your next ideal home, visit www.OCViewOnline.com today.
Listing Inventory Sees Record Highs
Saturday, June 19th, 2010What is next for the real estate market considering some of the pressure we are seeing in the stock market and world economies? In every market, good and downturn, we can find the opportunity for a safe investment. That could be interest income preservation or equity long term and short term placement. It appears that the consumer is fleeing to real estate as a safe house position.
Listing inventory has climbed to record highs in recent months. As a result, we have seen a run on pent up demand where buyers have been patiently waiting for the right opportunity. Listing inventory was up 44 percent over January 2009 and, in response, new pending sales increased almost 304 percent over month-to-month statistics from March 2010 to April 2010 in Orange County. In fact, this takes the inventory of remaining unsold in April to an almost negative number.
Meanwhile, the high-end markets have rebounded. Our thermometer is the secondary market or second/vacation home index. Sales of second or vacation home resorts or areas have seen modest adjustments in the high-end, where 12 months ago there were little to no sales to mention. Twenty percent of the local desert market has been in upper tier real estate with a single home selling for as high as $10 million, sold by the Coldwell Banker Indian Wells office.
Contact your local Coldwell Banker sales associate to gather more information about the areas you are researching by visiting www.CaMoves.com and www.OCViewOnline.com.
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