David Deem 714-997-3486 Dave@DeemTeam.com Today’s  homebuyers  are faced with a strong  sellers’ market , which means there are a lot of active buyers competing for a relatively low number of available homes. As a result, it’s essential to understand how to make a confident and competitive offer on your dream home. Here are five tips for success in this critical stage of the homebuying process. 1. Listen to Your Real Estate Advisor An  article  from  Freddie Mac  gives direction on making an offer on a home. From the start, it emphasizes how trusted professionals can help you stay focused on the most important things, especially at times when this process can get emotional for buyers: “Remember to let your homebuying team guide you on your journey, not your emotions. Their support and expertise will keep you from compromising on your must-haves and future financial stability.” A real estate professional should be the expert guide you lean on ...

David Deem 714-997-3486 Dave@DeemTeam.com By Jordan Grice Foreclosure filings rose in February, breaking from a trend of month-over-month declines brought on by the ongoing moratorium.    According to a new report from  ATTOM Data Solutions , foreclosure filings were up 16% month-over-month in February. There was a total of 11,281 U.S. properties with foreclosure filings last month. Despite the monthly uptick, the number is down 77% from a year prior.   "Extensions to the Federal Government's foreclosure moratorium and CARES Act mortgage forbearance program continue to keep foreclosure activity historically low," said Rick Sharga, executive vice president of RealtyTrac, an ATTOM Data Solutions company. "These government actions, and the efforts of lenders and mortgage servicing companies, have helped millions of homeowners avoid foreclosure during a year-long global pandemic and a recession that resulted in 22 million lost jobs."   One in every 12,182 housing un...

  David Deem 714-997-3486 Dave@DeemTeam.com Spring is almost here, and many are wondering what it will bring for the housing market. Even though the pandemic continues on, it’s certain to be very different from the spring we experienced at this time last year. Here’s what a few industry experts have to say about the housing market and how it will bloom this season. Danielle Hale,  Chief Economist ,  realtor.com : “Despite early weakness,  we expect to see new listings grow in March and April as they traditionally do heading into spring , and last year’s extraordinarily low new listings comparison point will mean year over year gains.  One other potential bright spot for would-be homebuyers, new construction , which has risen at a year over year pace of 20% or more for the last few months,  will provide additional for-sale inventory relief .” Ali Wolf,  Chief Economist, Zonda : “Some people will feel comfortable listing their home during the first half ...

  David Deem 714-997-3486 Dave@DeemTeam.com Last March, many involved in the residential housing industry feared the market would be crushed under the pressure of a once-in-a-lifetime pandemic. Instead,  real estate had one of its best years ever . Home sales and prices were both up substantially over the year before. 2020 was so strong that many now fear the market’s exuberance mirrors that of the last housing boom and, as a result, we’re now headed for another crash. However,  there are many reasons this real estate market is nothing like 2008 . Here are six visuals to show the dramatic differences. 1. Mortgage standards are nothing like they were back then. During the housing bubble, it was difficult  not  to get a mortgage. Today, it’s tough to qualify. Recently, the  Urban Institute  released their latest  Housing Credit Availability Index  (HCAI) which “ measures the percentage of owner-occupied home purchase loans that are likely to de...

  David Deem 714-997-3486 Dave@DeemTeam.com Last Thursday,  Freddie Mac  announced that their 30-year fixed mortgage rate was over 3% (3.02%) for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things: 1. The bump-up in rate should not have surprised anyone . Many had already projected that rates would rise slightly as we proceeded through the year. 2.  Freddie Mac ’s comments about the rate increase were not alarming : “The rise in mortgage rates over the next couple of months is likely to be more muted in comparison to the last few weeks, and we expect a strong spring sales season.” A “ muted ” rise in rates will not sink the real estate market, and most experts agree that it will be  “ a strong spring sales season .” What does this mean for you? Obviously, any buyer would rather mortgage ...

David Deem 714-997-3486 Dave@DeemTeam.com • The active listing inventory decreased by 72 homes in the past two-weeks, down 3%, and now totals 2,366, its lowest level since tracking began in 2004. In February, there were 10% fewer homes that came on the market compared to the prior 5-year average, 319 less. Last year, there were 4,161 homes on the market, 1,795 additional homes, or 76% more. • Demand, the number of pending sales over the prior month, increased by 95 pending sales in the past two-weeks, up 3%, and now totals 2,958, its strongest start to March since 2012. The ultra-low mortgage rate environment is continuing to fuel today’s exceptional demand. Last year, there were 2,583 pending sales, 13% fewer than today.  • The Expected Market Time, the number of days to sell all Orange County listings at the current buying pace, decreased from 26 days to 24, an extremely Hot Seller’s Market (less than 60 days) and the strongest reading since tracking began in 2004. It was a...

David Deem 714-997-3486 Dave@DeemTeam.com When selling a house, most homeowners hope for a quick and profitable transaction that puts them in a position to make a great move. If you’re waiting for the best time to win as a seller, the market is calling your name this spring. Here are five reasons why this is the perfect time to sell your house if you’re ready. 1. There’s high demand from homebuyers. Buyer demand is strong right now, and buyers are active in the market.  ShowingTime , which tracks the average number of buyer showings on residential properties, recently announced that  buyer showings are up 51.5%  compared to this time last year. Daniil Cherkasskiy,  Chief Analytics Officer  at  ShowingTime,  notes : “As anticipated , demand for real estate remains elevated  and continues to be affected by low levels of inventory…On average,  each home is getting 50 percent or more requests this year compared to January of last year. ...