Real Estate Market

Market Trends: April 2019

National Real Estate Overview

Note: February 2019 data below are the most recent released by the National Association of Realtors.

Existing-home sales rebounded strongly in February, experiencing the largest month-over-month gain since December 2015, according to the National Association of Realtors®. Three of the four major U.S. regions saw sales gains, while the Northeast remained unchanged from last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) shot up 11.8 percent from January to a seasonally adjusted annual rate of 5.51 million in February. However, sales are down 1.8 percent from a year ago (5.61 million in February 2018).

National Association of Realtors February 2019 Data

NAR's chief economist, Lawrence Yun, credited a number of aspects to the jump in February sales. "A powerful combination of lower mortgage rates, more inventory, rising income and higher consumer confidence is driving the sales rebound."

The median existing-home price for all housing types in February was was $249,500, up 3.6 percent from February 2018 ($240,800). February's price increase marks the 84th straight month of year-over-year gains.

Total housing inventory at the end of January increased to 1.63 million, up from 1.59 million existing homes available for sale in January, a 3.2 percent increase from 1.58 million a year ago. Unsold inventory is at a 3.5-month supply at the current sales pace, down from 3.9 months in January but up from 3.4 months in February 2018.

Properties remained on the market for an average of 44 days in February, down from 49 days in January but up from 37 days a year ago. Forty-one percent of homes sold in February were on the market for less than a month.

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage decreased to 4.37 percent in February from 4.46 percent in January. The average commitment rate across all of 2018 was 4.54 percent.

First-time buyers were responsible for 32 percent of sales in February, up from last month and a year ago (both 29 percent).

 

The Price Is Right...Or Is It?

Dining room view of home listingIf you are planning to put your home on the market -- especially if you live in a place where prices are rising and buyers are competing for homes -- it can be tempting to list your property at a high price hoping that you'll actually get it. After all, it can work with cars, why not with homes?

You may want to think twice -- the resale of homes and automobiles are very different things.

Experienced Realtors who have been through dozens, scores, or even hundreds of transactions, will advise you to price your home appropriately from the outset because it's pivotal to seeing the home sold quickly and at the best price. Research backs up what experienced Realtors already know: overpricing your home and then lowering the price a few times most often leads to a final sales price significantly below what you originally should have asked for it.

And, to make matters worse, the longer a home remains on the market, the deeper the discount is likely to be off the original price. Ouch!

How to price your home correctly

Many homeowners seek to price their home based on factors like the price they paid for it, the balance that they currently owe, or simply on the profit they need to buy another house or to meet their financial goals. These motivations are perfectly understandable but in reality the value of your home is what the market will bear. Here's the problem: If a property is overpriced, some potential buyers will avoid looking at it at all (and having no one show up to see it is a pretty clear message from the market). Others may view the home but walk away without making an offer.

So, what can you do? Choose a Realtor who can provide you with the best comparative market analysis (CMA) and who understands your local area intimately. Some agents may attempt to woo you with an inflated price -- it probably happens every day somewhere -- but in the end the market will speak clearly, and choosing an experienced Realtor who understands the importance of market-driven pricing will end up being a choice you won't regret.

Your Realtor's CMA should include sales prices for similar properties nearby that have sold recently, prices for currently listed homes (these will be your competition), and prices of homes that were taken off the market because they didn’t sell. Look for a Realtor with demonstrated experience who can factor in a range of local market issues to produce that all-important first price.

If the price is right from the beginning, it usually means not only a faster sale, it typically means more money in your pocket.

 

 

 

Egg-cellent Easter Events in Greater Whittier!

The Easter Bunny is heading to Greater Whittier Area for some holiday fun! Get in the holiday spirit with fantastic community events your whole family will enjoy!

 

Brunch with the Bunny

Date: Saturday, April 13th

Time: 9:30 am - 1:00 pm

Location: Golden Park (8840 Golden Street, Downey)

Cost: $10 per person

Dine on a delicious brunch with the Easter Bunny! Play fun carnival games, get an Easter Bunny photo, win fantastic prices, and so much more!

 

Eggxtravaganza

Date: Saturday, April 13th (Rain out date April 20th)

Time: 11:00 am - 2:00 pm

Location: Parnell Park (15390 Lambert Road, Whittier)

Cost: $5 per wristband

Enjoy egg hunts, photos with the Easter Bunny, a family faire, face painting, inflatables, and so much more!  

Egg Hunt Times

  • 11:30 am | ages 2 & under

  • 12:00 pm | ages 3 & 4

  • 12:30 pm | ages 5 & 6

  • 1:00 pm | ages 7 & 8

  • 1:30 pm | ages 9 & 10

 

10th Annual Easter Egg Hunt

Date: Sunday, April 14th

Time: 12:00 pm - 3:00 pm

Location: Ronald Reagan Park (945 South Weir Canyon Road, Anaheim)

Cost: Free!

This fun event won’t just have you searching for eggs but also decorating them! Families can also enjoy photos with the Easter Bunny, fun games, great food, and win awesome prizes in the raffle and silent auction.

 

Egg Night

Date: Friday, April 19th

Time: 7:00 pm - 8:00 pm

Location: La Bonita Park (1440 West Whittier Boulevard, La Habra)

Cost: $10 per child

Your big kids (ages 7 to 13) can enjoy the Easter festivities as well! Put on your glow in the dark gear, grab your flashlight, and fill your basket with hidden eggs. Pre-registration is required and can be done by calling (562) 383-4200 or in person at the Community Center (101 West La Habra Boulevard).

 

Spring Family Eggstravaganza

Date: Saturday, April 20th

Time: 8:00 am - 12:00 pm

Location: La Bonita Park (1440 West Whittier Boulevard, La Habra)

Cost: $3 per wristband (pre-sale at Community Center) | $4 per wristband (day of event)

This festive event has something fun for the whole family! Participate in the numerous egg hunts. Check out the Eggs-treme Kids Zone filled with balloon twisters, crafts, games, inflatables, and music! Swing by the Community Resource Fair where 30+ local organizations will be hosting family friendly activities and providing valuable information. There will also be chances to win fantastic raffle prizes!

Egg Hunt Times

  • 9:00 am | Special Needs & Seniors (60+)

  • 9:15 am | ages 0-2 & 3-4

  • 9:30 am | HELICOPTER DROP

  • 9:35 am | ages 5-6

  • 9:50 am | ages 7-8

  • 10:05 am | ages 9-10 & 11-12

  • 10:20 am | Teens & Adults

 

Easter Egg Hunt

Date: Saturday, April 20th

Time: 9:00 am - 11:00 am

Location: La Mirada Regional Park (13701 Adelfa Drive, La Mirada)

Cost: FREE!

Do not miss this great holiday event! Spend the morning creating crafts, jumping in the bounce house, petting a variety of animals, playing games, taking a photo with the Easter Bunny, and, of course, hunting for eggs! You can also purchase some mouthwatering pancakes from the La Mirada’s Kiwanis Club. Stick around after the Egg Hunt for the annual Going Quackers for Kids Duck Derby taking place at Splash! La Mirada Regional Aquatics Center.

 

Egg-Citement Hunt

Date: Saturday, April 20th

Time: 10:00 am

Location: Hurless Barton Park (4601 Casa Loma Avenue, Yorba Linda)

Cost: FREE!

Hop on over to the park for egg hunts, arts & crafts, games, face painting, and a petting zoo!

 

The Domis Team wishes everyone a very HAPPY EASTER! Follow us on Facebook for more great community and holiday events!

 

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Contact Information

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
Lake Park Brea Senior Community | Lake Park La Habra Senior Community

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