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9 Tips for Buying or Selling Your Home in 2023

1. Work with a realtor and let them work for you -

While you know what you want better than anyone else, no one has a stronger grasp of the market than a qualified real estate agent. Their job is to listen to what you want and help you get it. They know how to negotiate, when to try for the hard sell and when to walk away. Realtors aren't emotionally involved, so they can help both sides get a solid deal. So, if you're serious, you need a realtor. More importantly, you need to step back and let them do their job.

2. First impressions are important -

You like a house. Or you don't. A potential buyer decides this in 10 seconds, meaning first impressions can make or break a deal. So, if the house you're hoping to sell has an overgrown front garden, a shabby path or flaking exterior paint, then it might be time to touch up the front door, make a few repairs and add a hanging basket or two to create a welcoming entrance.

3. Clean and declutter -

No one likes to enter a house and find dirt and clutter. And it's even less likely a potential buyer will be able to see past your mess. As previously stated, first impressions count Big time! So before hosting a view of the home you want to sell, spruce up the rooms and hide away anything that doesn't need to be on display. This way anyone who walks through the front door will focus only on space, light and rooms, and not on muddy shoes clogging up the entryway.

4. You'll probably need to compromise -

When you begin searching for your dream home, you will likely have a list of wants such as a large kitchen or a private garden. But unless your budget is the sky, it's highly unlikely you'll find a home that ticks all your boxes. Therefore, keep an open mind and accept that you'll probably need to compromise on something. For starters, you may need to widen your search radius to increase your options.

5. Your house might not be worth as much as you think -

While sellers want as much money for their home as possible, some grossly overestimate their home's value. Avoiding this turnoff to potential buyers will keep your home off the unsellable list. You may need to lower your asking price. Remember, your real estate agent will know best, so listen to their opinion to secure a respectable deal.

6. Professional photos make all the difference -

It goes without saying that high quality images of your home will showcase it in its best light. Conversely, poor quality images--out of focus, dark or grainy--will do the opposite. It's worth going with an agent that will make professional photography a priority to ensure your home is marketed at its finest. A reputable agency will know how to sell a home with imagery and will offer noteworthy suggestions before the shoot.

7. Don't rely on Zillow to decide your home's value -

When it comes to buying and selling, research is key. And while real estate search engines such as Zillow and Trulia offer estimates for house values, they might not be as trustworthy as you think. In fact, Forbes suggests that Zillow in particular tends to guess the price of homes. Such websites generally work to a median price formula, so the price you see is likely based around a comparable sale. For the most accurate price, you'll need to speak to a professional real estate agent.

8. An open house might benefit them more than you -

Open houses are a great way of getting people through the door, but there are a few things you should consider. For starters, you'll need to get the property ready beforehand and leave the house for a few hours during viewings. Be flexible if you have multiple viewings.

9. Agents might overprice a house to secure a listing -

As we know from watching Selling Sunset, estate agents work on commission which means some (not all) might go to great lengths to secure a listing. This could stretch to overpricing your house to win you over only for the price to be dropped later when it fails to attract a buyer.

Ken Kellogg
Broker
Kellogg Realty Group Best OC Loans
714-863-1955

NEW LISTING for Kellogg Realty Group.

This beautiful home is listed for sale by Gregg Tomchick @ $920,000.00.

OPEN HOUSE will be 10/01/22 from 11am to 3pm.

1907 W. Folsom St., Anaheim, CA 92804

3BD 2BA | 1468 SQ FT
7465 SQ FT Lot | Laundry inside

Gregg will be there to greet you and give you a personal tour.

Gregg Tomchick | DRE 01427650
[email protected].

https://www.zillow.com/homedetails/1907-W-Folsom-St-Anaheim-CA-92804/25225885_zpid/

11422 Barclay Dr, Garden Grove, CA 92841 | MLS #OC22102211 | Zillow For sale This 2048 square foot single family home has 4 bedrooms and 3.0 bathrooms. It is located at 11422 Barclay Dr Garden Grove, California.

7700-136 Lampson Ave, Garden Grove, CA 92841 | MLS #OC22189829 | Zillow For sale This is a 2 bedroom, 2.0 bathroom, mobile / manufactured home. It is located at 7700-136 Lampson Ave Garden Grove, California.

June 2022 | NEWSLETTER
http://www.kelloggsrealestate.com/june-2022-newsletter2.html

June 2022 Newsletter

Be BLESSED on this Memorial Day and THANK YOU to all who have served our Great Nation.

Memorial Day (originally known as Decoration Day[1]) is a federal holiday in the United States for mourning the U.S. military personnel who have died while serving in the United States armed forces.[2] It is observed on the last Monday of May. It was formerly observed on May 30 from 1868 to 1970.[3]

Many people visit cemeteries and memorials on Memorial Day to honor and mourn those who died while serving in the U.S. military. Many volunteers place an American flag on graves of military personnel in national cemeteries. Memorial Day is also considered the unofficial beginning of summer in the United States.[4]

Many cities and people have claimed to have first celebrated the event. In 1868, General John A. Logan of the Grand Army of the Republic called for a "Decoration Day", which was widely celebrated. By 1890, every Northern state had adopted it as a holiday. The World Wars turned it into a generalized day of remembrance instead of just for the Civil War. In 1971, Congress standardized the holiday as "Memorial Day" and changed its observance to the last Monday in May.

Two other days celebrate those who have served or are serving in the U.S. military: Armed Forces Day (which is earlier in May), an unofficial U.S. holiday for honoring those currently serving in the armed forces, and Veterans Day (on November 11), which honors those who have served in the United States Armed Forces.[5]

Happy May to you all!

Are interest rates going up? YES. Is now a good time to buy? Let's take a look.

Real estate investments have the characteristic of performing well in a rising rate environment. In particular, income-generating real property and multi-family have historically--and as I've witnessed from experience as an investor and developer--shown a greater ability to grow net income during expansionary periods than securities and other assets. Historically, real estate has always been considered a strong inflation hedge.

Owning real estate has a number of benefits during periods of high inflation. First of all, owners will see appreciation as property values keep pace with inflation. Also, with fewer real estate development projects due to rising labor, material, machinery and other costs, property supply slumps which leads to more price increases.

Second, inflation pushes all prices upward--rents included. As housing development slows and demand for existing properties rises, occupancy rates typically skyrocket. In such environments, landlords raise rents which generates higher revenues (and increases property value as demonstrated by CoreLogic Data), nationwide rents increased 10.2% year over year in September 2021.

Finally, mortgage payments on fixed-rate instruments do not change over time, i.e., the payments remain the value of money owed in the future.

So, Yes. Now is a great time to buy, whether you are an investor or just trying to purchase your first home.

If you would like to sell or purchase a home, call or email us here at Kellogg Realty Group.

Ken Kellogg
Kelloggs Real Estate
Broker 01415040DRE #
714-863-1955
[email protected]

Hello Friends,

The California market might still be hot but will cool shortly.

According to Zillow, at the state level, California's housing market remains the most valuable in the country, with a total value of $9.24 trillion in December, accounting for more than a fifth--21.3%--of the national total. However, California's overall value growth of $1.38 trillion--somewhat underperforming by about -5.5% relative to its total weight, particularly given the extreme growth seen in other states. While January 2022 marked the first time since July 2020 that the state's median price did not increase by double digits on an annual basis, the statewide median price is expected to edge higher in the coming months as the market enters the spring homebuying season.

Despite rising interest rates, the California housing market remained resilient in February 2022. According to C.A.R. (California Association of Realtors), the state's housing prices are accelerating while competition intensifies.
Housing costs have been on the rise in California, which has impacted affordability. Only 17% of Orange County households could afford to purchase the $1,100,000 median-priced home in the first two months of 2022; up from 24% in third quarter 2021, but down from 27% in fourth quarter 2020.

The first forecast for the real estate market in California is a decline in home sales. According to C.A.R., single-family home sales are forecast to total 416.800 units in 2022.
This means that it would be a 5.2% decrease from the projected pace of 439,000 in 2021. This number has been in question for a couple of years. In 2021, the number is 6.8% higher than the predicted pace of 411,900 homes sold in 2020.

No one really can tell the future of home sales. However, with rising interest rates and inflation, there is little doubt that this will have a negative effect on the market. Some are predicting a slowdown by the end of 2022.

Please call if you have any questions.

Ken Kellogg
Broker
Kellogg Realty Group
714-863-1955

MARCH 2022 | Real Estate Newsletter

Dear Friends and Family,

The seller's real estate market is HOT! According to Zillow, at the state level, California's housing market remains the most valuable in the country with a total value of $9.24 trillion in December--accounting for more than a fifth (21.3 percent) --of the national total. However, California's overall value growth of $1.38 trillion in 2021 represents only 20.1 percent of the overall national growth of $6.9 trillion--somewhat underperforming by about -5.5 percent relative to its total weight, particularly given the extreme growth in other states.

Despite rising interest rates, the California housing market proved resilient in January 2022 according to the California Association of Realtors (C.A.R.). The monthly sales pace in January increased by 3.4 percent from 429,860 in December but fell 8.3 percent from a year ago when 484,760 homes were sold annually. The decline in year-over-year sales remained higher than pre-pandemic levels, and new purchase mortgage applications continue to be robust.

According to C.A.R., prices have stabilized, housing supply has improved slightly, and competition has eased a bit during the off season. California home prices continued to fall as the mix of sales shifted toward less expensive homes and the seasonal slowdown persisted. The statewide median price fell 3.9 percent--to $765,580 in January from $796,580 in December--but increased 9.4 percent from $699,920 in January 2021.

Their latest statewide report shows while January marked the first time since July 2020 the state's median price did not increase annually by double digits, it is expected to edge higher during Spring homebuying.

The supply-demand imbalance continues to heat the market as many buyers offer bids higher than asking price. And while competition was less heated than a few months ago, it remained elevated in January. While the statewide median sales-price-to-list-price ration remained above 100 percent, the January figure was the lowest since February 2021. Nearly three-fifths of homes (57.3 percent) still sold above asking price (in latest monthly report) but was the lowest in 11 months.

Homes are still flying off the shelves in record time. The median number of days required to sell a single-family home in California was 12 days in January and 11 days in January 2021. Tight inventory and low mortgage rates, similar to national housing market trends, are fueling the rise in California home prices. While this type of price appreciation has an impact of housing affordability, higher home prices should encourage more sellers to list their homes as this will slow appreciation.

Thank you for taking the time to read. Please reach out with any questions.

Ken Kellogg
Broker
Kellogg's Real Estate
714-863-1955

FEBRUARY 2022 | Real Estate Newsletter

Warm February greetings to you!

Despite the year's turbulence, the Southern California real estate industry has held strong. The forecast for California's housing market in 2022 remains optimistic in spite of declining sales and population growth resulting from the demand for homes in the state. Waning unemployment rates and rapidly rising home sale prices will keep real estate agents busy across Southern California this year.

In October 2021 the average home in California was priced at $722,406--a 21% increase year over year (YOY). There is little sign of prices stalling, though, as Norada Real Estate Investments predicts this figure will rise by another 5.2% within the next year. However, limited supply and increased home prices could make for slightly lower home sales figures in 2022, according to RISMedia.

The Covid-19 pandemic upended the home-buying process. Historically low mortgage rates, coupled with inventory shortage, created a red hot market with houses selling within hours of listing--often well above asking price.

No one knows exactly what the future has in store. But housing experts tell CNBC that in 2022, buyers can expect similar trends to the past two years--elevated prices, low inventory and fast turnaround.

That said, although it will continue to be a seller's market, home values are expected to increase by double-digit percentage points. The Federal Reserve is expected to raise interest rates a few times in 2022, which means mortgage rates will likely rise.
Both Redfin and Realtor.com predict a 30-year-fixed mortgage rate will reach 3.60% by the end of 2022, compared to an average of 3.30% now.

According to a current housing and economic forecast released by the California Association of Realtors (C.A.R.), supply constraints and higher home prices will bring California home sales down slightly in 2022, but transactions will still post their second highest level in the past five years.

The baseline scenario of C.A.R.'s "2022 California Housing Market Forecast," sees a decline in existing single-family home sales of 5.2 percent next year to reach 416,800 units--down from the projected 2021 sales figure of 439,800. The 2021 figure is 6.8 percent higher compared with the pace of 411,900 homes sold in 2020.

The California median home price is forecast to rise 5.2 percent to $834,400 in 2022. An imbalance in demand and supply will continue to put upward pressure on prices, but higher interest rates and partial normalization of the mix of sales will likely curb median price growth. Additionally, a shift in housing demand to more affordable areas--as the trend of remote working continues--will also keep prices in check and prevent the statewide median price from rising too fast in 2022.

The six-county region's median sale price reached $697,500 last month--up 16.3% from a year earlier, said real estate data firm DQNews. It marked the 10th time the median set a record in 2021--a frenzy driven by low rates, millennial buyers and a desire for more living space during the pandemic.

Some economists forecast that prices will rise again this year, but increases are expected to be smaller as affordability--already an issue for many--becomes an increasing barrier to homeownership. Whether that happens is another question.

Do your research ahead of time so you're ready to go when you find the right listing. When buying a home in the next year or longer, it will be important to watch new listings--including 'coming soon' listings--and be prepared to not only visit the home quickly, but also to decide and extend an offer almost immediately.

If you have questions, please call me.

Ken Kellogg, Broker
Kelloggs Real Estate
714-863-1955

We just closed on this great Garden Grove, CA home. Congratulations to Michelle and Ron!

We can help you sell your home or find your dream home.
[email protected] or PM me here. Ken Kellogg

This weekend is an ESTATE SALE...not just any estate sale this will be huge. Friday the 20th from 10am- 4pm, Saturday 21st from 10am- 4 pm and on Sunday from 10am-2pm.. You won't want to miss this one it will be awesome tons of collectables and also some antiques. The address is 1712 s William Miller dr. Anaheim ca 92804.. Hope to see you there

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