Taking Advantage of the End of the Summer Housing Market
Summer in Orange County is nothing short of a privilege to experience. The ocean breeze blows through Orange County and the smell of backyard BBQ fills the air. Soon, we’ll be transitioning into the hopefully cooler months of fall, and activity in Orange County will start to change. With the start of the school year right around the corner, there are certain changes that are going to start occurring within the housing market as well.
We’re closing out on the second-best time of year to list your home, and we’re heading into the Fall Market, where things historically tend to slow down. But in this market, there are still opportunities for both buyers and sellers to capitalize on. Here are some tips on how you can take advantage of the current housing market in Orange County.
3 Tips to Maximize the End of the Summer Housing Market in Orange County
Interest Rates Are Low, Act Now
It’s no secret that everyone wins with the current historically low interest rates that have increased the buying power and drastically improved the affordability index here in Orange County. According to Freddie Mac, the average 30-year, fixed mortgage rate is 3.75 percent, a low not seen since 2016. Low interest rates allow buyers to spend more money on a home than they normally would, affording them the ability to get the 4 bedroom, 3.5 bath instead of the 4 bedroom, 3 bath they could originally afford.
UPDATE: In an effort to capitalize on the currently expanding economy, the Federal Reserve announced on July 31, 2019 their decision to cut the federal funds rate, dropping the rate to the 2 to 2.25 percent range. If you’re wondering how this will affect the market, don’t worry. Since this is a 9-year trend, the cut will not have a sudden impact on mortgage rates however we should keep an eye on mortgages with variable rates as this cut goes into effect over the next 6-12 months.
Price Your Home Right
The active inventory is starting to slow down and many sellers that’ve had their homes on the market for some time are starting to pull their listings off the market and try again when things start to look up again. That leaves room for a seller to come along, list their home at a proper price and snag a buyer who has been committed to finding a listing before the summer is over. Pricing your home right is the key to being able to sell in during the end of the Summer Housing Market. If you need help with that, Rosemary Hieber is just a phone call away.
Demand is Still There
According to the Thomas Report released on July 29, 2019, there’s quite a bit of demand for homes priced between $750,000 and $1 million. If you’re a seller and your home falls within that range, it’s time to prepare your home for the market. Buyers have been looking at the same listings all summer. What they haven’t seen, is your beautiful home you’ve been wanting to sell but haven’t listed yet. Here’s your chance. These last week’s heading into the Fall Market are prime for a new listing to come in and steal the show.
List Your Orange County Home Today
Say YES to this Opportunity! The most important decisions of your life are family decisions, which may create the need to change your residence. Now is the right time to right-size your home. There is no time like the present. Amazing Interest Rates, and Peak Housing Prices provide the Perfect Opportunity to MAKE YOUR DREAMS COME TRUE!
Rosemary has Sold over $275 Million in Real Estate Locally and is the #1 Agent for Coldwell Banker Residential Brokerage in Ladera Ranch. Rosemary offers specialized programs and services to assist in Right-Sizing your next Real Estate Purchase. Call me for a Complimentary Evaluation and ask about my Complimentary Services. Remember, “It Doesn’t Cost More to Hire the Best!”
- M: 949.285.3215