All Posts in Property Market

November 17, 2018 - 1,286 comments

Understanding the Price Correction of 2018

On July 24th, 2018, CNBC published a story online titled “Southern California home sales crash, a warning sign to the nation.” The timing of this story roughly marks the beginning of the ‘Price Correction,’ as many in the industry are calling it.

The Price Correction stirs thoughts of the Great Recession, but it’s an entirely different beast. For years, our market in Southern California has seen staggeringly low inventory levels, bottoming out in December of 2017 at an all-time low. This super-low inventory caused prices to skyrocket. In conjunction with low inventory, the available homes that were on the market – especially new homes – were being relentlessly pursued by foreign investment, mostly comprised of Chinese cash. For several years now, the primary influencer of home prices and sales (at least in SoCal) has been that Chinese cash and it’s propped our market up disproportionately to the reality of it.

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December 12, 2017 - 56 comments

How to Save Big and Get Your Dream Home with a Fixer-Upper

I’m going to reveal a very private secret of mine: Jonathan & Drew Scott from Property Brothers are my heroes. And if you don’t know who I’m talking about, then we can never be friends because it’s obvious you’re not addicted to HGTV like I am.

If you are addicted to HGTV and shows like Property Brothers or Fixer-Upper, or if you’re thinking of tackling your own fixer-upper project, then this article is meant for you.

Fixer-uppers have grabbed the attention of many prospective homebuyers, mostly because of the shows on HGTV. People watch a 30-minute episode, see some happy couple take a few swings with a sledge hammer, watch as way too much shiplap is installed and then voilà, their dream home is ready.

What HGTV doesn’t show you is, in my opinion, what’s most important. If you’re like me, you probably wonder how those happy couples afford both the home and the renovation. Or perhaps you’re curious about what goes into planning and successfully executing a renovation project, or how to even find the right fixer-upper in the first place.

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November 15, 2017 - No Comments!

What Listing Commissions and Sarah McLachlan Have In Common (Hint: They’ll both make you cry)

Let’s be blunt: real estate agents have the residential re-sale market completely monopolized. And because it’s monopolized very few agents must justify their commission fees, and very few consumers know how to validate those fees or confront agents when they have questions regarding them. This is a great situation for me. It’s a pretty sucky situation for you.

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October 1, 2017 - 1 comment.

The State of the Property Market – Are We in a Bubble?

It’s probably one of the questions I hear most: “Are we in a bubble?”

Home buyers are growing timid as interest rates increase and the price of Orange County (and Southern California) homes continues its seemingly never-ending trajectory that began in 2012. With the pain of 2008 still fresh in people’s minds, more and more consumers are fearing a repeat.

That fear, for the most part, is based on one factor alone: home prices. Taken by itself, the run up in home prices over the last 5 years would seem to mirror the same run up that occurred prior to 2008 and legitimize any concerns consumers have regarding another bubble. It looks the same, right? So, isn’t it fair to assume the same outcome may happen? Not at all.

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