April Market Update

We made it to Friday! 

 As the Summer months slowly creep up on us, we are already seeing a rise in listings taken. We have seen 10% more listings come to market in March than we did in February. Even with the additional homes come available, the demand for homes in Orange County is still well into a Sellers Market at 185%. The way we come to this number is, we take all the homes in escrow, and divide them into the amount of homes available to buy, which give us the supply & demand of the market. The luxury market is a little different, meaning we have more homes available than we do in escrow, giving the Buyers a bit of an advantage to negotiate on price. As we have said before, pricing is everything. We realize all the opportunities this market has to offer for both Buyers and Sellers and we want to help our clients achieve their ultimate goals. We have several programs & strategies to help with a smooth transition, whether you're buying or selling a home. Give us a call and we would be happy to tell you more about these programs in detail, or you can look on our website for more details.

BUYERS ARE LOOKING!

3+ Bedroom // Single Family Home // South Huntington Beach

3+ Bedroom // Single Family Home // Huntington Beach, Westminster

3+ Bedroom // Single Family Home // North/West Huntington Beach

2-3 Bedroom // Condo or Townhouse // Downtown Huntington Beach

2-3 Bedroom // Single Family Home // Santa Ana or Fountain Valley

**We offer all our buyers a Guarantee to Love it, ask us how it works!**

March Market Update

Happy Wednesday!

Competition for Sellers is almost non-existent for those priced under $1,000,000, and that means the market is HOT. Fresh inventory is so badly wanted + needed, that Buyers are paying a premium for properties that come to the market when they're priced right. Keep in mind, Buyers are keeping a close eye on that interest rate as it has been on the rise for the last few months; As that goes up, we may see a lot more Sellers come to the market in hopes to beat the potential drop in price an increased interest rate may cause. It is an incredible opportunity for Seller's to get top dollar for their home right now because there is such low inventory. Waiting until Summer time when the market is flooded with new inventory may not be the best strategy if you're looking for top dollar. Now, for homes that top $1,500,000 in price, the market cools down and becomes a great opportunity for Buyers. Over pricing in this price range can be detrimental to Selling as Buyers have a wide choice of homes to choose from. At The Adams Group, we pride ourselves on being the Pricing Experts, we are so confident in our pricing, we will guarantee to sell your home, at an agreed upon price, within 21 days, or we don't charge for our services. Call us for more information.

BUYERS ARE LOOKING!

3+ Bedroom // Single Family Home // South Huntington Beach (we have several buyers)

1-2 Bedroom Condo/Townhouse // South Huntington Beach

3+ Bedroom // Single Family Home // Tustin Area

**We offer all our buyers a Guarantee to Love it, ask us how it works!**

February Market Update

Single Family Homes

Just since last month demand has significantly increased in all price ranges of themarket! In January, 1,895 Single Family homes were listed in Orange County... That is 970 MORE than the listings that came to the market in December. To add, more than 40% of those listings taken in January are either in escrow or closed. Home value is still on the rise, but only for those who list at the right price. We ran the numbers & for South Huntington Beach (a perfect micro market for Orange County) those who sold their home in under 30 days on average made SIX PERCENT MORE than those who sold in 31 days or more. The longer your home sits on the market, the less attention it gets and Buyers start to wonder, "whats wrong with it?". It is so important that the agent you choose to represent you has a game plan to get you the most amount of money, with the least amount of time on the market. Although we are still in a Sellers Market, condition plays such a huge part in a Buyer placing an offer on a property. We're not saying your home must look like an HGTV commercial, but its important that the price matches the condition of the house, and we're happy to help give some simple tips on getting your house "sale ready".

Condos + Townhomes

Condos + Townhomes, just like Single Family Homes, are still on the rise in value! We keep hearing people say, "I've thought of buying a condo, but I want to save to buy a single family home". I'll admit, I once thought this way too. Here's the kicker, while you're "saving for a condo" in your apartment, you're paying SOMEONE ELSE. If that isn't reason enough, your landlord has the ability to raise rent at the end of your lease, and if you're month to month, they can raise it whenever they want (with proper notice). Buying a condo or townhome is the perfect stepping stone to a single family home and gives you a fixed payment over time against inflation. The market is perfect for buyers because interest rates are still low! You may have some competition due to the affordability factor of condos in Orange County, but with a good agent skilled in negotiating and great agent relationships on your side, you're sure to find the perfect place.

BUYERS ARE LOOKING!

3+ Bedroom // Single Family Home // South Huntington Beach

3+ Bedroom // Single Family Home // Huntington Beach, Westminster

3 Bedroom // 1+ Bathroom // Single Family Home // Huntington Beach. Garden Grove, Westminster, Orange

**We offer all our buyers a Guarantee to Love it, ask us how it works!**

 

January Market Update

Single Family Homes

Happy New Year! We hope you all enjoyed the holidays + all the food that came with it! Jumping back into it, demand is still extremely high for single family homes in Orange County under $1,000,000. With inventory over 300 homes lower than last month, the average sale price is still on the rise. Getting into the million and up ranges demand is on the rise as well! Even with significantly lower inventory than we had last month, the demand + home values are going up. Home values in the price ranges over $1,000,000 have gone up 1% between Quarter 3 + Quarter 4 of last year EVEN THOUGH that price range has been in a buyers market. Seller's, it's time to take advantage of this market! It will be interesting to see what the rise in interest rates + new tax laws that begin this year will do to our market!

Condos + Townhomes

The holidays surely didn't slow this market down. We had Seller's asking for updates, buyers making offers, all through the holidays + even on Christmas Day! Prices are still being pushed up in all price ranges for Condos + Townhomes, which tells us demand is still there + it's certainly a Seller's market. Big things that will help you win in these multiple offer situations are having your pre approval ready to go + to put your best foot forward. Attempting to negotiate the price down on a multiple offer situation could cost you the house entirely + sets you up for a lose-lose situation! 

BUYERS ARE LOOKING!

3+ Bedroom // Single Family Home // South Huntington Beach

3+ Bedroom // Single Family Home // Huntington Beach, Westminster

3 Bedroom // 1.5+ Bathroom // Single Family Home // Huntington Beach. Garden Grove, Westminster, Orange

**We offer all our buyers a Guarantee to Love it, ask us how it works!**

WE HAVE INVESTORS.

If you have a property that needs a little, or a lot, of TLC hope is not lost. If you have a property you simply just want to get off your hands without the hassle of putting it on the open market, we have a solution. We have CASH investors ready to buy + close TODAY

Call us today for more information

How to choose your REALTOR

How does one even find their real estate agent? Well, most people find their Real Estate Agent(s) through word of mouth, advertising of some kind, open house, or occasionally organically. Great! Now you've found someone to either list your home or find your new home, but wait, how do you know if this agent is the right agent for you + your family? Real Estate Agents aren't a one size fits all type of deal, some do much more than others in order to help you achieve your goals + some do the bare minimum in order to get paid.

Step 1 - Have a meeting. Whether you're buying your first home or 17th home or selling your current home, it's always a good idea to have a meeting with your potential agent. During this meeting your agent should be prepared to explain to you how they run their business (how they find/sell homes, marketing strategy, etc.) + answer any questions you have about the process. You can tell a lot about how an agent operates their business by how they conduct their appointments.

Step 2 - ASK QUESTIONS! Don't be afraid to ask your agent questions about the buying or selling process even if they seem obvious. We don't expect you to know all the details. Your agent should never make you feel dumb for asking questions, and if they do, there are plenty out there that will treat you with respect + be happy to answer any and all questions. Also, get to know your agent with your questions! Having meshing personalities is so important, you are going to be talking to this person a lot over the next couple months, so you better like them!

Step 3 - Sign an agreement. I'll start off with the listing side since that's the most common time to sign an agreement. Once you've decided on the agent you want to list your house you'll sign a Residential Listing Agreement. This is binding between the agent(s) and Seller(s) to list their home for a mutually agreed on amount of time, for a mutually agreed on percentage of money offered to the Listing Agent as well as to the Selling Agent (agent who brings the buyer). Once this is signed, it allows the agent to get started on their marketing strategy to get you top dollar for your home. Now, if you're buying a home it is still a very good idea to sign a contract with your agent although not required. The benefit to you signing a contract with an agent as a buyer is the agent that you met with + liked + want to hire is now bound to do their best to find you a home. They now have a fiduciary duty to you to act in the best interest of you. This goes back to the asking questions step, dig into your agent to find out what they're going to do to find you this home that other agents might not do. It's also assuring for the agent to know you're just as committed to them as they are to you. (I have a funny dating analogy for this that you'll hear in our appointment)

There are so many different personality types. Choose your agent the way you would choose your friends, it will be a much more pleasurable + comfortable experience! Now since I mentioned the friend term, if you have a friend who has their Real Estate License and you're using them to buy or sell, we still advise you to follow these steps with them to see if they're the right Real Estate Agent for you! There's nothing worse than hiring a friend + then having to fire said friend because they're a part-time Real Estate Agent or maybe just not fulfilling promises. Let me also add the benefit of hiring a T E A M. You're not hiring one single agent to do the job, you're hiring a team of them! Hence, more opportunity for YOU! We hope this was a helpful read + if you have any further questions feel free to give us a ring or you can email me directly at megan@adamsgrouprealestate.com

December Market Update

First things first... Happy Holidays!

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Single Family Homes

How time flies! The end of the year is H E R E ! As the year comes to a close, we definitely have less inventory than the last few months (if you can even believe that!), but the demand has not dropped one bit. In fact, it has increased, even in the luxury market. Even with the holidays right around the corner, buyers are still actively looking + making offers of homes, so don't wait until the new year to list if you're thinking of selling! Even if you were to list your home TODAY, your home would likely not close escrow (unless you get a cash buyer) until the new year, AKA after the holidays! There is not a whole lot of competition right now being that inventory is so low, selling now is the perfect opportunity for you to get top dollar + a motivated buyer.

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Condos + Townhomes

Demand, demand, demand! In Orange County condos fall into the affordable range for most people making them the most wanted. Demand has risen over the past few months + the holidays surely aren't slowing that demand down. We are personally working with a few buyers looking to buy ASAP but the competition is stiff! Cash buyers are coming out of the woodwork + these multiple offer situations are no joke. Having an experienced agent representing you, whether you're a buyer or a seller is imperative to your transaction.

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BUYERS ARE LOOKING!

3+ Bedroom // Single Family Home // Huntington Beach (2 different buyers)

3+ Bedroom // Single Family Home // South Huntington Beach

2-3 Bedroom // Condo/Townhouse // Huntington Beach

**We offer all our buyers a Guarantee to Love it, ask us how it works!**

 

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Why Should You Get Pre-Approved?

I cannot tell you how many clients & friends I have come across that ask "Why do I need to talk to a lender or my bank? I'm just getting started!" It's completely understandable to not want to talk to someone until you see what's actually out there on the market, and learn more about what you're getting yourself into!

But here's the kicker, what if you found the most perfect home (or investment) that day when you were out "just looking"? Unless you're paying all cash, you're going to need a pre-approval letter from a bank or private lender to submit with your offer. In this market, we are so low on inventory that you're going to see multiple offers on well priced properties and a lot of agents actually won't even look at your offer if there is not a pre-approval attached to it.

Now what is a pre-approval you ask? In short, a pre-approval is documentation provided by a loan officer of exactly how much mortgage you are approved to borrow. The first step is to be pre-qualified, you will fill out a loan application and your loan officer, based on the numbers you provided for income, debt, assets, etc. they can give you a qualification letter. This is not the same as a pre-approval. Taking it to the next step, you will provide documentation to back your numbers, your lender will do an extensive check on your financial background, and asses the future necessity of your job in some cases. Once all the steps provided by your lender have been completed, you are given a Pre-Approval Letter and can officially begin your home search in the price range you are qualified to buy in!

**If you would like to speak to one of our preferred lenders please email me at megan@adamsgrouprealestate.com**

 

DO I KEEP RENTING? OR DO I BUY?

A very logical question most people ask themselves, do I keep renting or do I buy? The thought of buying a home can be scary, trust me, we know! But what if we told you how much money you're LOSING when you rent? Sure, in the short term renting seems like a great idea; Calling upon someone else to fix your household problems, moving whenever you want, cheaper monthly payments (if you're lucky). What if we told you, over 10 years you were losing over $200,000? That is A LOT of money to lose to "not have to deal" with buying a house! Oh, you're a numbers person? See below.

 This graph is comparing buying a $450,000 condo/townhome with a $350 HOA to having a $2,300 monthly rent payment.

This graph is comparing buying a $450,000 condo/townhome with a $350 HOA to having a $2,300 monthly rent payment.

That is almost $300,000. Your new monthly payment for your MORTGAGE would be about $2,800 per month. Not only are you investing in yourself when you purchase, but you also get a nice tax write off for owning a home. What would happen if your landlord raised rent 5% next year? There is no rent control in Orange County. Would you still be able to afford to live there? Because last year on average in California, rents increased 4.9%. How much do you think they will go up this year with inventory being so low & millennials being so accustomed to "luxury living"? The beauty of owning your own home is you create a fixed payment overtime against inflation for yourself! There are just so many benefits & possibilities when it comes to homeownership we just want to lay it all out there. As a millennial, I personally know a ton of people who don't think they'll ever have the ability to buy, or think they need to move to Nebraska to be able to afford, & I can't tell you how wrong a lot of them are! Talk to a professional, get educated, & INVEST IN YOURSELF.

-Megan Gullotta, Realtor

**If you would like a personalized rent vs buy custom to you please email me at megan@adamsgrouprealestate.com**