Buying Homes Tips
California Housing Market Forecast 2018
California Housing Market Forecast 2018
With the economy expected to continue growing, housing demand should remain strong and incrementally boost California’s housing market in 2018, though a shortage of available homes for sale and affordability constraints will be a challenge, according to the 2018 California Housing Market Forecast, released by California Association of Realtors (C.A.R.).
“Solid job growth and favorable interest rates will drive a strong demand for housing next year,” said C.A.R. President Geoff McIntosh. “However, a persistent shortage of homes for sale and increasing home prices will dictate the market as housing affordability diminishes for buyers struggling to get into the market.”
- The forecast sees a modest gain in existing single-family home sales of 1.0% next year, up slightly from the projected sales figure of 421,900 units for 2017. The 2017 figure is 1.3% higher compared to 2016.
- The average for 30-year, fixed mortgage interest rates will increase slightly to 4.3% in 2018, up from 4.0% in 2017 and 3.6% in 2016, but still will remain low by historical standards.
- The California median home price is forecast to increase 4.2% to $561,000 in 2018, following a projected 7.2% increase in 2017 to $538,500.
All information deemed reliable but not guaranteed. Taken from CAR.org 10/17/17
First Time Home Buyer Facts
7 Essential First-Time Homebuyer Facts
From 2016- from housingwire.com
- 32 is their median age.
- 24% used a gift as source of down payment.
- 74% rented before buying.
- 21% lived with parents, relatives or friends before buying.
- 67% said the “Desire to own our own home” as the primary reason for buying.
- Of all first-time homebuyers- 58% are married couples. 18% are single females. 14% are unmarried couples. 8% are single males.
- 35% of all home buyers are buying their first home- up 3% from last year.
Do you desire to “own your own home”? Let us help guide you in the process. We are a husband and wife full time real estate team. We’re here for you when you are ready!
Gary & April Greer 951-522-0518 or april@teamgreer.com
Top Reasons to Own a Home
Top Reasons to Own a Home-
Buyers all across the nation are making their dreams come true. They’re signing on the dotted line and grabbing hold of the keys to a family home. Despite record low interest rates, many potential buyers are delaying the decision to buy. What’s keeping you on the sidelines?
Let’s take a look at the top reasons to own a home.
Building equity. Writing a check to the landlord is like lining their pockets with your potential equity. It is money you never get back. Owning your home means building equity. Each and every mortgage payment is going towards paying down part of the principal.
Predictability. Gas and grocery prices may rise, but a fixed rate mortgage is as predictable as they come. Your mortgage payment will be X amount for the life of the loan.
Tax Breaks. Did you know that you can deduct the interest you pay each year on your home? You can deduct the cost of your property taxes. Even making energy efficient upgrades can be tax deductible.
Appreciation. Over the years (real estate is a long term investment) your home should gain value. According to the National Association of Realtors (NAR) “The number of U.S. households is expected to rise 15% over the next decade, creating continued high demand for housing.”
Social Benefits. We’ve talked about the financial benefits of owning a home, but did you know that homeowners generally rate themselves as being happier and healthier than their renting counterparts? Part of this is thanks to the stability that homeownership brings. Homeownership can be a great way to secure future financial security and freedom. So, what’s stopping you from getting into the market? There’s never been a better time to buy! exert from realtytimes.com
For tax, investment or ownership advice we suggest you contact an attorney or certified public accountant. All information deemed reliable but not guaranteed.
Feeling inspired? Tired of renting? Want to paint that wall hot pink? Give us a call for a no pressure overview on what it takes to get started down the path to home ownership in the Temecula Valley. We’ve been helping people just like you for 18 years!
Call, Text, or Email April Greer at 951-522-0518 or april@teamgreer.com
Be The Good, Buying or Selling the Temecula Valley
Please join our “Be The Good” campaign
by buying or selling real estate with us. You choose from the organizations listed below where 5%* of our earned commissions will be sent. It’s that simple. We are already supporting these great non-profits (and others) but together we can do more!
Rancho Damacitas (951) 302-2317 Our local foster care home(s) with children and family services with a powerful new branch called Project Independence for youth transitioning into adulthood
Michelle’s Place (951) 699-5455 Our local breast cancer resource center
Project Touch (951) 677-9661 Our local homeless and emergency shelter group
Samaritan’s Purse A global humanitarian relief organization
Community Mission of Hope (951) 444-1404 Helping families and individuals in need with food and hygiene items, as well as financial counseling. Partners with the City of Temecula and the The Temecula Food Pantry.
Gary and April Greer have been connecting qualified Buyers and Sellers in the Temecula Valley since 1998…they are just a quick call, text or email away at 951-522-0518 or april@teamgreer.com
*cannot be offered on corporate or professional referrals.
