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California Housing Market Holds Positive Outlook

by The Domis Team

Housing data from Realtor.com shows that California homes are flying off the proverbial shelves! When compared to the pace of home sales nationwide, California dominates the list for shortest days on market. Here are the California cities with the fastest home sales pace:

  • Oakland, Calif.: 21 days on market
  • Stockton-Lodi, Calif.: 26 days
  • Sacramento, Calif.: 32 days
  • San Francisco: 44 days
  • Fresno, Calif.: 44 days
  • San Jose, Calif.: 47 days

Statewide, home inventory remains stubbornly low, and home prices are rising in most areas of California. But is it a sign of another housing boom?

Not according to Kenneth T. Rosen, chairman of the University of California, Berkeley, Fisher Center for Real Estate and Urban Economics. Rosen predicts that the housing market in California and throughout the country will see steady growth next year - but not the rapid climb some home sellers are hoping for.

Rosen points to stingy mortgage lending practices as part of the problem. High consumer credit scores are required by lenders, shutting out nearly 40% of potential home buyers. He also speculates that any future tax increases could keep the reins on home sale activity.

While these issues are not show-stoppers, they could keep our housing markets from showing a true boom. This said, home demand in California is showing no signs of backing off. The outlook for California real estate in 2013 remains positive, though economists are watching "fiscal cliff" scenarios closely.

Our local market trends in Whittier continue to show low home inventory and strong demand! If you are a home buyer in Los Angeles County or Orange County, you can give yourself an advantage by working with the Domis Team! We will keep you up-to-date with the latest home prices and market activity, and tell you about new listings in the area! 

At the Domis Team, we have the Whittier real estate experience you need for home buying success! Contact us today for the best in friendly, professional service!

The Domis Team
Prudential California Realty
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Whittier Welcomes the Holiday Season!

by The Domis Team

Start the holiday season with these great hometown events in Whittier!

On December 1, enjoy the Whittier Sonata! Your shopping and dining will have special holiday flair with music and entertainment from 5:00 p.m. to 9:00 p.m. Experience a horse-drawn carriage ride along our charming, decorated Uptown district. Bring the kids along, because Santa will be here!

Supporting our independent merchants and restaurants in Whittier provides a return to our community, too! According to a study by Civic Economics, half of the money spent at an independent, hometown retailer gets returned directly to the community.

Local, independent restaurants return an average of nearly 75 cents on the dollar back to the community! You can discover unique stores and gifts among our local retailers, and enjoy wonderful hometown dining right here in Whittier.

Next, get ready for the 59th Annual Christmas Parade on Saturday, December 8! The parade begins at 10:00 a.m., but get there early to find a good viewing spot!

The parade route is in Uptown Whittier along Greenleaf Avenue. This celebrated holiday tradition is a family favorite. Make some great memories this holiday season with our special events in Whittier!

At the Domis Team, we are proud to be a part of Whittier! Whenever you have questions about buying or selling a home, we will be happy to help you! Our friendly, hometown service and professional expertise give you first-class results without the pressure.  Contact us today for the Whittier real estate guidance you can trust!

We wish you all the best during the holidays!

The Domis Team
Prudential California Realty
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Plenty of Buyers, Not Enough Homes for Sale in California

by The Domis Team

We have buyers, we need more homes! This is the message from among 15,000 real estate professionals in the 2012 Annual Market Survey, conducted by the California Association of Realtors®. Here are the highlights!

Scant home inventory is an issue statewide. Scarce supply continues to boost home prices and cause bidding wars. An amazing 57% of home sales in 2012 involved multiple offers.

The days on market are half what they were a year ago, with 2012 traditional home sales seeing a brisk average of only 32 days. Distressed properties are also moving faster, with short sales averaging 90 days on market during 2012, as opposed to 141 days a year ago. 

The 2012 Market Survey also revealed the following home buying trends in California:

  • 30% of home buyers paid cash.
  • 17% of home buyers were investors.
  • 40% of first-time home buyers are choosing bank-owned properties or short sales.
  • 35.8% of home buyers are first-time buyers, up from 34.2% a year ago.
  • 5.8% of buyers were from other countries, with China and Canada leading the group.

Our local market trends in Whittier show similar patterns. We have ready buyers, but the home supply in Los Angeles County and Orange County is a bit thin!

What this means to you as a home buyer is that preparedness is everything! Working with local real estate professionals will get you better results than trying to "catch" new listings on your own!

If you are thinking of selling a home, you need expert advice and the right strategy to make the most of today's market! It may be tempting to price your home high, but 70% of buyers are still relying on mortgages to finance their home purchase - which means a bank appraisal will be involved.

Selling smart puts you in the best position to attract qualified buyers and attract multiple offers. Let us show you how!

At the Domis Team, our local market experience gives you the professional guidance you need to make your plans a success! Contact us today for the best in Whittier real estate service!

The Domis Team
Prudential California Realty
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Are You Ready to Invest in Whittier Real Estate?

by The Domis Team

According to a recent article by Bloomberg, the opportunities in the housing market are drawing new investors from the ranks of main street. Lured by low home prices, steady cash flow, and the prospect of rising home values, new investors believe that real estate will provide the best return on their money.

In Whittier, the limited supply of home inventory in the lower price ranges can make finding the right rental property a bit of challenge! Buyer competition is a reality of our market, but you can succeed with your rental home purchase by working with dedicated real estate professionals here at the Domis Team! We will alert you to the newest listings and guide you with our market experience and local expertise!

If you are considering a Whittier home purchase for a rental property, we can help! In fact, we have some first-time investment pointers for you here:

  • Plan to buy in your own neighborhood or in other familiar territory.
  • Identify your source of funds. Are you comfortable using retirement money? Do you need to obtain bank financing? Are you able to pool money with family and friends?
  • Find a niche. You can get a very reasonable mortgage on 1-to-4 unit properties if you live in one of the units. Many first-time investors began with a duplex.
  • Calculate the financing and closing costs, estimate annual maintenance expenses, and include property insurance and taxes. Factor in any repairs that are needed.
  • Know what local rents average for the property size and location. Examine the likely cash flow of expected rent vs. expenses.
  • Check for code violations, municipal issues, zoning requirements, homeowner’s association restrictions, or other situations that may thwart your plans for the property.
  • Have an attorney review your lease agreements and rental application forms for compliance with all applicable housing laws. Screen rental applicants using consistent, proper methods.
  • Get advice from a professional tax preparer about your potential income tax scenarios and the degree of record keeping you should maintain.

As your Whittier real estate professionals we are always ready to assist you with your questions about the Whittier real estate market! From the latest home sales statistics to the newest listings, turn to the Domis Team for the guidance you can trust!

For friendly, professional assistance, contact us today!

The Domis Team
Prudential California Realty
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Photo of Linda & Ryan Domis - The Domis Team Real Estate
Linda & Ryan Domis - The Domis Team
Keller Williams Realty
16310 E. Whittier Blvd. Suite F
Whittier CA 90603
Cell: 562-884-5373
Cell:562-458-6947
Fax: 562.902.5158
The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale The Domis Team Real Estate, Whittier, La Habra, Orange County Homes for Sale

Contact the Domis Team

Linda Domis - DRE #00571375 | Ryan Domis - DRE #01969771
Whittier Homes for Sale | La Habra Homes for Sale
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