Nora De La Torre -Residential Specialist, Dre#01260779

While spring is usually the peak homebuying season, you don’t actually need to wait until spring to sell. Here's why.

1. Take Advantage of Lower Mortgage Rates

Last October, the 30-year fixed mortgage rates peaked at 7.79%. In January, they hit their lowest level since May. That means you may not feel as locked-in to your current mortgage rate right now. That downward trend in rates has made moving more affordable now than it was just a few months ago.

According to Sam Khater, Chief Economist at Freddie Mac: “Given this stabilization in rates, potential homebuyers with affordability concerns have jumped off the fence back into the market.”

2. Get Ahead of Your Competition

Right now, there are still more people looking to buy a home than there are houses for sale, which puts you in a great position. But keep in mind, with the recent uptick in new listings, we’re seeing more sellers may already be re-entering the market.

3. Make the Most of Rising Home Prices

Experts forecast home prices will keep going up this year. What does that mean for you? If you're ready to sell your current house and plan to buy another one, it may be a good idea to think about moving now before prices go up more. That would give you the chance to buy your next home before it gets more expensive.

4. Leverage Your Equity

Homeowners today have tremendous amounts of equity. If you've been waiting to sell because you were worried about home affordability, know your equity can really help with your next move.

If you're thinking about selling your house and moving to another one, DM me to get the process started now so you can get a leg up on your competition.

Nora De La Torre
Remax Partners
951-345-0705

Servicios en Español Estoy a Sus Ordenes y me encantaria ayudar.

If you’re looking to buy a home, you’ve probably been paying close attention to mortgage rates. Over the last couple of years, they hit record lows, rose dramatically, and are now dropping back down a bit. Ever wonder why?

The answer is complicated because there’s a lot that can influence mortgage rates. Here are just a few of the most impactful factors at play.

Inflation and the Federal Reserve

The Federal Reserve (Fed) doesn’t directly determine mortgage rates. But the Fed does move the Federal Funds Rate up or down in response to what’s happening with inflation, the economy, employment rates, and more. As that happens, mortgage rates tend to respond.

Fortunately, the expert outlook for inflation and mortgage rates is that both should become more favorable over the course of the year. As Danielle Hale, Chief Economist at Realtor.com, says: “[M]ortgage rates will continue to ease in 2024 as inflation improves . . .”

The 10-Year Treasury Yield

Additionally, mortgage companies look at the 10-Year Treasury Yield to decide how much interest to charge on home loans. If the yield goes up, mortgage rates usually go up, too. The opposite is also true. According to Investopedia: “One frequently used government bond benchmark to which mortgage lenders often peg their interest rates is the 10-year Treasury bond yield.”

With the Fed meeting later this week, experts in the industry will be keeping a close watch to see what they decide and what impact it’ll have on the economy. To navigate any mortgage rate changes and their impact on your moving plans, it’s best to have a team of professionals on your side.

Nora De La Torre
Remax Partners
951-345-0705

Servicios en Español y estoy a sus ordenes.

Congratulations to sellers they went under contract with few days. And got asked price. They are so excited to move into their new home.

Nora De La Torre
Remax Partners
951-345-0705
Dre01260779

Servicios en Español y estoy a sus ordenes.

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Have you ever heard the term “Silver Tsunami” and wondered what it's all about? If so, that might be because there’s been lot of talk about it online recently. Let's dive into what it is and why it won't drastically impact the housing market.

What Does Silver Tsunami Mean?

A recent article from HousingWire calls it: “. . . a colloquialism referring to aging Americans changing their housing arrangements to accommodate aging . . .”

The thought is that as baby boomers grow older, a significant number will start downsizing their homes. Considering how large that generation is, if these moves happened in a big wave, it would affect the housing market by causing a significant uptick in the number of larger homes for sale. That influx of homes coming onto the market would impact the balance of supply and demand and more.

The concept makes sense in theory, but will it happen? And if so, when?

Why It Won’t Have a Huge Impact on the Housing Market in 2024

Experts say, so far, a silver tsunami hasn’t happened – and it probably won't anytime soon. According to that same article from HousingWire: “. . . the silver tsunami’s transformative potential for the U.S. housing market has not yet materialized in any meaningful way, and few expect it to anytime soon.”

Clearly, not every baby boomer is planning to sell or move – and even those who do won’t do it all at once. Instead, it will be more gradual, happening slowly over time.

If you’re worried about a Silver Tsunami shaking up the housing market, don’t be. Any impact from baby boomers moving will be gradual over many years. Fleming sums it up best: “Demographic trends, they don't tsunami. They trickle.”

Nora De La Torre
Remax Partners
951-345-0705

Servicios en Español Estoy a Sus Ordenes

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Reach out for more information.
Servicios en Español y estoy a sus ordenes.

Nora De La Torre
Remax Partners
951-345-0705
Dre #01260779

To really understand home affordability, you need to look at the combination of three important factors: mortgage rates, home prices, and wages.

1. Mortgage Rates

Mortgage rates have come down in recent months. And looking forward, most experts expect them to decline further over the course of the year. Even a small change in mortgage rates can have a big impact on your purchasing power, making it easier for you to afford the home you want by reducing your monthly mortgage payment.

2. Home Prices

The second important factor is home prices. After going up at a relatively normal pace last year, they’re expected to continue rising moderately in 2024.
That’s great news for you because it means prices aren’t likely to skyrocket like they did during the pandemic. But it also means it’ll probably cost you more to wait. So, if you’re ready, willing, and able to buy, and you can find the right home, purchasing before more buyers enter the market and prices rise further might be in your best interest.

3. Wages

Another positive factor in affordability right now is rising income.
Higher wages improve affordability because they reduce the percentage of your income it takes to pay your mortgage. That’s because you don’t have to put as much of your paycheck toward your monthly housing cost.

What This Means for You

Home affordability depends on three things: mortgage rates, home prices, and wages. The good news is, they’re moving in a positive direction for buyers overall.
If you're thinking about buying a home, it's important to know the main factors impacting affordability are improving. To get the latest updates on each, DM me.

Nora De La
Remax Partners
951-345-0705

Servicios en Español Estoy a Sus Ordenes. Llamen hoy me encantaria ayudar

Gavalon Hills, Riverside CA

Nora De La Torre
Remax Partners
Dre #01260779

Servicios en Español Estoy a Sus Ordenes. Llamen hoy me encantaria ayudar.

# carealtor

If you’ve been holding off on selling your house to make a move because you felt mortgage rates were too high, their recent downward trend is exciting news for you. Mortgage rates have descended since last October when they hit 7.79%. In fact, they’ve been below 7% for over a month now.

And while they’re not going back to the 3% we saw during the ‘unicorn’ years, they are expected to continue to go down from where they are now in the near future.

You May Not Feel as Locked-In to Your Current Mortgage Rate

With mortgage rates already significantly lower than they were just a few months ago, you may feel less locked-in to the current mortgage rate you have on your house. With rates dropping, the difference between your current mortgage rate and the new rate you’d be taking on isn’t as big as it was. That makes moving more affordable than it was just a few months ago. As Lance Lambert, Founder of ResiClub, explains: “We might be at peak “lock-in effect.” Some move-up or lifestyle sellers might be coming to terms with the fact 3% and 4% mortgage rates aren’t returning anytime soon.”

More Buyers Will Be Coming to the Market

According to data from Bright MLS, the top reason buyers have been waiting to take the plunge into homeownership is high mortgage rates. Now that rates are easing, more buyers are likely to feel they’re ready to jump back into the market and make their move. And more buyers mean more demand for your house.

If you’ve been waiting to sell because you didn’t want to take on a larger mortgage rate or you thought buyers weren’t out there, the recent decline in mortgage rates may be your sign it’s time to move. When you’re ready, DM me.

Nora De La Torre
Remax Partners
951-345-0705

Servicios en Español y estoy a sus ordenes.

Are you putting off your plans to sell because you’re worried you won’t be able to find a home you like when you move? If so, it may be time to consider a newly built home and the benefits that come with one. Here’s why.

Near-Record Percentage of New Home Inventory

The percentage of the total homes available to buy that are newly built is well over two times higher than the norm. And even more new homes are on the way.

Recent data from the Census shows there’s been an uptick in both housing starts (where builders break ground on more new homes) and housing completions (homes where construction just wrapped).

And while some people may worry builders are building too many homes, that isn’t a concern – if anything, the recent increase is really good news.

How This Helps You

Since the supply of existing homes for sale is still low right now, the increase of new-home construction can be a game changer because it gives you more options for your search.

And it may be more within reach than you ever imagined. In addition, some builders are offering things like mortgage rate buy-downs for homebuyers right now. This can help offset today’s affordability challenges while also getting you into your dream home.

Just remember, the process of buying from a builder is different from buying from a home seller, so it’s important to partner with a trusted real estate agent who knows the local market.

If you’re trying to sell so you can make a move but you’re having a hard time finding a home you like, DM me. That way you have a local expert to help you explore all of your options, including the newly built homes in our area.

Servicios en Español Estoy a Sus Ordenes.

Nora De La Torre
Remax Partners
951-345-0705

Congratulations to my sweet sellers that live out of state. They are very excited that new buyers will get to enjoy this beautiful ranch home that's been in the family for a long time. Congratulations to the new buyers as well they are so motivated and excited about this ranch home.

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HEY BUYERS AND SELLERS!!
The 30-year fixed mortgage rate is continuing the recent downward trend, finally dipping into the high 6s.
If your thinking about making a move and want to get your plans in motion. Let's connect

Nora De La Torre
Remax Partners
951-345-0705
Dre #01260779

Servicios en Español Estoy a Sus Ordenes

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If you’re thinking about selling your house, you may have heard the supply of homes for sale is still low, and that means your house should stand out to buyers who are craving more options. But you may also be wondering, once you sell, how does the current supply impact your own move? And, will you be able to find a home you want to buy with inventory this low?

One thing that can help you find your next home is exploring all your options, including both homes that have been lived in before as well as newly built ones. Let’s look at the benefits of each one.

The Pros of Newly Built Homes

First, let’s look at the advantages of purchasing a newly constructed home. With a brand-new home, you’ll be able to:

1. Create your perfect home.

2. Cash-in on energy efficiency.

3. Minimize the need for repairs.

4. Have brand new everything.

The Pros of Existing Homes

Now, let’s compare that to the perks that come with buying an existing home. With a pre-existing home, you can:

1. Explore a wider variety of home styles and floorplans.

2. Join an established neighborhood.

3. Enjoy mature trees and landscaping.

4. Appreciate that lived-in charm.

Either way, working with a local real estate agent throughout the process is mission-critical to your success. They'll help you explore all of your options based on what matters most to you in your next home. Together, you can find the home that’s right for you.

If you have questions about the options in our area, let’s discuss what's available and what's right for you. That way you’ll be ready to make your next move with confidence.

Nora De La
Remax Partners
951-345-0705

Servicios en Español y estoy a sus ordenes

Even with so much data showing home prices are actually rising in most of the country, there are still a lot of people who worry there will be another price crash in the immediate future. In fact, a recent survey from Fannie Mae shows that 23% of consumers think prices will fall over the next 12 months. That’s nearly one in four people who are dealing with that fear – maybe you’re one of them.

To help ease that concern, here’s what the experts say will happen with home prices not just next year, but over the next five years.

Experts Project Ongoing Appreciation

While seeing a small handful of expert opinions may not be enough to change your mind, hopefully, a larger group of experts will reassure you. Here’s that larger group.

The Home Price Expectation Survey (HPES) from Pulsenomics is a great resource to show what experts forecast for home prices over a five-year period. It includes projections from over 100 economists, investment strategists, and housing market analysts. And the results from the latest quarterly release show home prices are expected to go up every year through 2027.

If you’re worried home prices are going to fall, here’s the big takeaway. Even though prices vary by local area, experts project they’ll continue to rise across the country for years to come at a pace that’s more normal for the market.

If you’re someone who’s worried home prices are going to fall, rest assured a lot of experts say it’s just the opposite – nationally, home prices will continue to climb not just next year, but for years to come. If you have any questions or concerns about what’s next for home prices in our local area, DM me.

Nora De La
Remax Partners
951-345-0705
Servicios en Español

Can't believe it's already December. Wishing you a blessed Christmas season 🙏🏻 🎄

As the year winds down, you may have decided it's time to make a move and put your house on the market. But should you sell now or wait until January? While it may be tempting to hold off until after the holidays, here are three reasons to make your move before the new year.

Get One Step Ahead of Other Sellers

Typically, in the residential real estate market, homeowners are less likely to list their houses toward the end of the year.

Selling now, while other homeowners may hold off until after the holidays, can help you get a leg up on your competition. Start the process with a real estate agent today so you can get your house on the market before your neighbors do.

Get Your House in Front of Eager Buyers

A recent article from Investopedia says: “. . . if your house is up for sale in the winter and someone is looking at it, chances are that person is serious and ready to buy. Anyone shopping for a new home between Thanksgiving and New Year’s is likely going to be a serious buyer. Putting your home on the market at this time of year and attracting a serious buyer can often result in a quicker sale.”

Use Your Equity To Fuel Your Move

Keep in mind that homeowners today have record amounts of equity. According to CoreLogic, the average amount of equity per mortgage holder has climbed to almost $290,000. That means the equity you have in your house right now could cover some, if not all, of a down payment on the home of your dreams.

Listing your home before the new year can offer unique benefits. Less competition, motivated buyers, and your equity gains can all play to your advantage. Reach out, and let's achieve your goals before winter sets in.

Nora De La Torre
Remax Partners
951-345-0705
Dre #01260779

Servicios en Español y estoy a sus ordenes

When it comes to what’s happening in the housing market, there’s a lot of confusion going around right now. And, if you’re thinking about making a move, that can leave you with a lot of lingering questions.

1. What’s Next for Mortgage Rates?

Mortgage rates are higher than they’ve been in recent years. And, if you’re looking to buy a home, that impacts how much you can afford. That’s why so many buyers want to know what’s ahead for mortgage rates. The answer to that question is: no one can say for certain, but here’s what we know based on historical trends.

Over the past year, inflation was up, so mortgage rates were as well. But inflation is easing now. And this is why the Federal Reserve has recently paused their federal funds rate hikes, which means many experts believe mortgage rates will begin to come down.

2. Where Are Home Prices Headed?

While there’s been a lot of concern prices would come crashing down this year, data shows that didn’t happen. In fact, home prices are rising in most of the nation. Experts say that trend will continue, just at a slower pace that’s much more normal for the housing market – and that’s a good thing.

3. Is a Recession Around the Corner?

While recession talk has been a common thing over the past few years, there’s good news on that front. As experts look at all the leading indicators today, they’re changing their minds and saying a recession is getting less and less likely.

The big takeaway? The data shows there isn’t cause for concern – there are actually more signs of hope. DM me to talk more about the housing market questions on your mind as we head into the new year.

Servicios en Español y estoy a sus ordenes, Vamos a conectar hoy

Wishing you a wonderful and blessed Thanksgiving Day. Make sure to spend time with love ones today. Be blessed!

🦃

Weather it's the company or maybe the delicious meal, what are you most Thankful for as we enter the Holiday season?

It's that time of year again. 🥧 what's is your favorite Thanksgiving dish? I love the stuffing.

🦃

OPEN HOUSE
If your looking for a ranch home you will love this property. This home has so much to offer and great opportunity.

Nora De La Torre
Remax Partners
951-345-0705
Dre #01260779

Servicios en Español y estoy a sus ordenes. Vamos a conectar hoy

The new year is right around the corner, and you might be wondering if 2024 will be the right time to buy or sell a home. If you want to make the most informed decision possible, it’s important to know what the experts have to say about what's ahead for the housing market.

Experts Forecast Ongoing Home Price Appreciation

Looking forward, experts project home prices will continue to rise next year, but not quite as much as they did this year. Even though the expected rise in 2024 isn't as big as in 2023, it's important to understand home price appreciation is cumulative. That ongoing price growth is a big part of why owning a home can be a smart decision in the long run.

Projections Show Sales Should Increase Slightly Next Year

While expectations are for just a slight uptick in total sales, improved activity next year is a good thing for the housing market, and for buyers and sellers like you. As people continue to move, that opens up options for hopeful buyers who are looking for a home.

So, what do these forecasts show? The housing market is expected to be more active in 2024. That may be in part because there will always be people who need to move. People will get new jobs, have children, get married or divorced – these and other major life changes lead people to move regardless of housing market conditions. That will remain true next year, and for years to come.

If you’re thinking about buying or selling, it’s important to know what the experts are forecasting for the future of the housing market. When you’re in the know about what’s ahead, you can make the most informed decision possible. DM me about the latest forecasts together, and craft a plan for your next move.

Servicios en Español y estoy a sus ordenes.

Starting my day off with my sweet Jesus. All glory be to him, Amen

❤️❤️❤️

Congratulations to my sweet sellers in finally getting this property sold. Property has been a long journey full of challenges, but together we got it done.

Congratulations to the Arredondo family as well they purchase this fixer upper for a great price. Can't wait to see the new transformation. The best feature about this property is located in a great community with tons of activities for the whole family including a beautiful lake to enjoy.

What's important to you and your must have?

If you’re weighing your options to decide whether it makes more sense to rent or buy a home today, here’s one key data point that could help you feel more confident in making your decision. Every three years, the Federal Reserve Board releases the Survey of Consumer Finances (SCF). That report covers the difference in net worth for both homeowners and renters. Spoiler alert: the gap between the two is significant.

The average homeowner’s net worth is almost 40X greater than a renter’s.

One of the biggest reasons homeowner net worth skyrocketed is home equity.

Over the last few years, known as the ‘unicorn’ years for housing, home prices went through the roof. That’s because there weren’t enough homes for sale, and there was a big influx of buyers rushing to buy them and take advantage of the then record-low mortgage rates. That imbalance of supply and demand pushed prices higher and higher. As a result, most homeowners who had a home during that time saw their equity grow a lot.

If you’re still in the middle of making your decision on whether to rent or buy, you may wonder if you missed the boat on the big net worth boost.

Historically, home prices climb over time. Even now that mortgage rates are closer to 7-8%, prices are still rising in many areas of the country because supply is still low compared to demand. That’s why expert forecasts for the next few years call for ongoing appreciation – just at a pace that’s more typical for the housing market.

If you’re on the fence about whether to rent or buy a home, remember that homeownership can give your net worth a big boost over time. If you want to learn more about this or the many other benefits of owning a home, DM me.

Tine pensado en comprar o vender una casa?
Servicios en Español y a sus ordenes

Nora De La Torre
Remax Partners
951-345-0705