7 Reasons To List Your House For Sale This Holiday Season
Every year at this time there are many homeowners who decide to wait until after the holidays to list their homes for the first time, while others who already have their homes on the market decide to take them off until after the holidays.
Here are seven great reasons not to wait:
- Relocation buyers are out there. Many companies are still hiring throughout the holidays and need their new employees in their new positions as soon as possible.
- Purchasers who are looking for homes during the holidays are serious buyers and are ready to buy now.
- You can restrict the showings on your home to the times you want it shown. You will remain in control.
- Homes show better when decorated for the holidays.
- There is minimal competition for you as a seller right now. Inventory of homes for sale traditionally slows in the late fall, early winter.
- The desire to own a home doesn’t stop when the holidays come. Buyers who were unable to find their dream homes during the busy spring and summer months are still searching!
- The supply of listings increases substantially after the holidays. Also, in many parts of the country, new construction will continue to surge and reach new heights which will lessen the demand for your house in 2019.
Waiting until after the holidays to sell your home probably doesn’t make sense.
Source: Keeping Current Matters
Windermere Tower Properties invite you to donate to the Spark of Love Toy Drive!
Windermere Tower Properties invite you to donate to the Spark of Love Toy Drive!
Windermere Tower Properties will be collecting new, unwrapped toys for deserving families within our community. The Spark of Love Toy Drive will run from November 26th to December 21th 2018. Collection sites will include all 3 Windermere Tower Properties - Riverside Office Locations.
Spark of Love Collection Events
Sunday, December 8, 2018: Windermere Tower Properties will be holding a Spark of Love collection from 10 a.m. to 12 p.m. at our office located at 7197 Brockton Ave, Riverside 92506. Donate a gift, take a picture with Santa, enjoy donuts, muffins, hot cocoa, a coloring contest, games & more!
Locations: Windermere Tower Brockton Office, 7197 Brockton Ave, Riverside 92506 (MAP)
About the Spark of Love Toy Drive
The Spark of Love is a partnership between ABC7 and fire departments across southern California. Over the past years, the Spark of Love Toy Drive has successfully collected more than ten million toys for under-served children and teens. The “Spark of Love Toy Drive” takes place in November and December every year. With love and support of donors and sponsors, kids across Southern California receive a new toy each holiday season. Windermere Tower Properties has been involved with the Spark of Love Toy Drive for the past 25 years.
Help us give back by dropping a new unwrapped toy to any one of our drop off locations before December 21st:
Main Office: 7197 Brockton Ave. Riverside 92506
Downtown Office: 3521 Main St. Riverside 92501 (Corner of 5th & Main St)
Magnolia Center: 4010 Merrill Ave. Riverside 92506
Because we live here too. Windermere Cares.
The #1 Reason To Not Wait Until Spring To Sell Your House
Many sellers believe that spring is the best time to place their homes on the market because buyer demand traditionally increases at that time of year, but what they don’t realize is that if every homeowner believes the same thing, then that is when they will have the most competition!
The #1 Reason to List Your Home in the Winter Months is Less Competition!
Housing supply traditionally shrinks at this time of year, so the choices buyers have will be limited. The chart below was created using the months’ supply of listings from the National Association of Realtors.
As you can see, the ‘sweet spot’ to list your home for the most exposure naturally occurs in the late fall and winter months (November – February).
Temperatures aren’t the only thing that heats up in the spring – so do listings!
In 2017, listings increased by nearly half a million houses from December to June. Don’t wait for these listings to come to market before you decide to list your house.
Added Bonus: Only Serious Buyers Are Out in the Winter
At this time of year, only those purchasers who are serious about buying a home will be in the marketplace. You and your family will not be bothered and inconvenienced by mere ‘lookers.’ The lookers are at the mall or online doing their holiday shopping.
If you have been debating whether or not to sell your home and are curious about market conditions in your area, talk with a local real estate professional who can help you decide the best time to list your house for sale.
Source: Keeping Current Matters
Best Halloween Events in the Inland Empire - Happening This Weekend!
Friday, Oct. 26, 2018 - 5:30 PM - 8:30 PM
Ronald Reagan Sports Park, 30875 Rancho Vista Road, Temecula, CA 92592
From the city of Temecula:
"What is a skeleton’s favorite game at the carnival? Boneyard bowling! You can enjoy this game and many more at the annual Halloween Carnival. Event also includes jumps, train rides and a costume contest to make it a ghoulishly good time. You don’t want to miss this spooktacular event!
"Cost: $5/wristband= unlimited games & prizes, excludes food vendors."
For further information, click here.
Saturday, Oct. 27, 2018 - 4 p.m. to 8 p.m.
Banning Community Center, 789 San Gorgonio Ave., Banning, CA
From the city of Banning:
For further information, click here.
Saturday, Oct. 27, 2018 from 5 PM to 8 PM
Marna O'Brien Park, 20505 Palomar St. Wildomar, CA 92595
From the city of Wildomar:
For further information, click here.
Saturday, Oct. 27, 2018 - 5:30 p.m. - 8 p.m.
California Oaks Sport Park, 40600 California Oaks Road, Murrieta, CA
From the city of Murrieta:
"Join us for some family fun. Carnival style games, music, food vendors, etc! Enjoy this years Coco theme!! (carnival games suitable for ages 2-11) $3 per child for unlimited games."
For further information, click here.
Sunday, Oct. 28, 2018 - 4:30-6:30 pm
Hope Lutheran Church, 29043 Vallejo Ave., Temecula, CA
From Hope Lutheran:
"Hope Lutheran Church, Temecula invites the community to a FREE Fall Festival & Trunk or Treat, 4:30 - 6:30 pm Sunday, October 28. Kids and adults are invited to come dressed in costumes. No gruesome costumes, please.
"The Festival is from 4:30-5:45 pm with carnival games, face painting, crafts, cupcake walk, and food! Food available for purchase. ($2 meal deals)
"Trunk or Treating is from 5:45-6:30 pm. Visit decorated trunks for treats and more activities!"
For further information, click here.
Wednesday, Oct. 31, 2018 - 5:00PM to 8:00PM
French Valley Community Center At Rancho Bella Vista Park, 31757 Browning Street, Murrieta, CA 92563
Hosted by Valley-Wide Recreation and Park District:
"FREE ADMISSION.
" A safe & fun alternative to 'Trick or Treating.' The French Valley Community Center will be filled with chills & thrills. Join us for games, jumpers, candy, and lots of FUN!
Phone: (951) 894-1468."
October 26-27, 2018
Downtown Riverside Main Street Pedestrian Mall
University & Main St. Riverside, CA
TOURS $15
For further information, click here.
Why Fall Is A Great Time To Buy A Home!
Here are four great reasons to consider buying a home today instead of waiting.
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Insights report reveals that home prices have appreciated by 6.2% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.1% over the next year.
Home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Are Projected to Increase
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have already increased by half of a percentage point, to around 4.5% in 2018. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by half a percentage point to around 5.1% by this time next year.
An increase in rates will impact your monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.
3. Either Way, You Are Paying a Mortgage
There are some renters who have not yet purchased homes because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to build equity in your home which you can then tap into later in life. As a renter, you guarantee your landlord is the person building that equity.
Are you ready to put your housing cost to work for you?
4. It’s Time to Move on with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe now is the time to buy.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
Source: Keeping Current Matters
Windermere Living Fall 2018
The Fall 2018 issue of Windermere Living showcases a number of fantastic articles, including an exposé on small-town living in the San Juan Islands, autumn-inspired design trends, an exclusive interview with California designer Nathan Turner, as well as pages upon pages of beautiful homes!
Windermere Living is the exclusive listings magazine published by Windermere Real Estate. Read the online version by clicking on the image below.
Southern California Real Estate Market Update - Q2 2018
The following analysis of the Southern California real estate market is provided by Windermere Real Estate Chief Economist Matthew Gardner. We hope that this information may assist you with making better-informed real estate decisions. For further information about the housing market in your area, please don’t hesitate to contact your Windermere agent.
ECONOMIC OVERVIEW
The counties covered by this report—Los Angeles, San Diego, San Bernardino, Orange, and Riverside—added 110,200 new jobs between May 2017 and May 2018. As a result, the unemployment rate dropped from 4.2% to 3.6%. Employment growth in Southern California continues to outperform the nation as a whole, and I am confident this will continue as we move through the balance of the year.
HOME SALES ACTIVITY
- There were 51,320 home sales in the second quarter of 2018. This was 6.8% lower than the same period in 2017 but 32.6% higher than the first quarter of this year.
- Pending home sales (an indicator of future closings) were 3.2% lower than during the same period a year ago, which suggests that third quarter closings may not show much improvement.
- Home sales dropped across the board. The most noticeable decline was in San Diego County, which fell 8.8%. I continue to believe that the decline in sales is directly related to the very low levels of inventory.
- There was an average of 35,238 active listings in the second quarter—well below what is needed to get to a balanced market.
HOME PRICES
- Year-over-year, average prices in the region rose by 7% and were 5.6% higher than in the first quarter of 2018.
- Affordability continues to be an issue, which, in concert with limited inventory, is pushing home prices higher. New construction activity is not meeting the needs of new households, which puts further pressure on home prices.
- Price increases across the region were fairly level, with Orange County showing the greatest annual appreciation in values (+8.1%). The slowest appreciation was in San Diego County, which still saw a respectable 6.6% increase.
- Based on the data in this report, I believe it is highly likely that prices will continue rising at above-average rates for at least the balance of 2018.
DAYS ON MARKET
- The average time it took to sell a home in the region was 37 days. This is a drop of four days compared to the second quarter of 2017, and seven fewer days than in the first quarter of this year.
- The biggest drop in days on market was in San Bernardino County, where it took six fewer days to sell a home compared to the same period last year.
- Homes in San Diego County continue to sell at a faster rate than other markets in the region. In the second quarter, it took an average of only 24 days to sell a home, which is one day less than it took a year ago.
- All five counties saw a drop in the amount of time it took to sell a home compared to the second quarter of 2017.
CONCLUSIONS
The speedometer reflects the state of the region’s real estate market using housing inventory,
price gains, home sales, interest rates, and larger economic factors.
The Southern California economy continues to add jobs at a very healthy rate, which increases demand for all housing types. Mortgage rates—although rising— are still very favorable when compared to historic averages, and low inventory continues to drive prices higher. The number of homes for sale in the region remains well below the levels needed for a balanced market. Given all of these factors, I have moved the needle a little more in favor of sellers.
Mr. Gardner is the Chief Economist for Windermere Real Estate, specializing in residential market analysis, commercial/industrial market analysis, financial analysis, and land use and regional economics. He is the former Principal of Gardner Economics, and has more than 30 years of professional experience both in the U.S. and U.K.
Backpacks for Kids Dropoff 2018 - Assistance League of Riverside
Windermere understands the importance of giving back to our community. Enriching the neighborhoods in which we live and work is an integral part of how we do business.
Today we dropped of the donated backpacks we have collected for the past 3 months, to the Assistance League of Riverside.
The Assistance League of Riverside strives to bring smiles to children in need by providing new clothes, supplies and books to help build self-esteem in the classroom and nutritious snack bags to help fight hunger over the weekend. Assistance League members and community volunteers give more than 41,000 hours of service each year, touching the lives of 10,000 at-risk children and teens. There philanthropic programs receive support from our thrift shop, as well as fundraising activities, donations from individuals and organizations in the community, and grants from corporations and foundations.
We support the Assistance and their many outreach programs. Their volunteers are hardworking, committed and most importantly they CARE. This is another reason why RIVERSIDE ROCKS!
We have very grateful hearts knowing that these backpacks will make a difference in the lives of many children & families in our community.
Homebuyers Willing To Sacrifice ‘Must-Haves’ In Favor Of Good School Districts
It should come as no surprise that buying a home in a good school district is important to homebuyers. According to a report from Realtor.com, 86% of 18-34 year-olds and 84% of those aged 35-54 indicated that their home search areas were defined by school district boundaries.
What is surprising, however, is that 78% of recent home buyers sacrificed features from their “must-have” lists in order to find homes within their dream school districts.
The top feature sacrificed was a garage at 19%, followed closely by a large backyard, an updated kitchen, the desired number of bedrooms, and an outdoor living area. The full results are shown in the graph below.
Buyers are attracted to schools with high test scores, accelerated academic programs, art and music programs, diversity, and before and after-school programs.
Test scores were the factor most often selected by buyers as a hallmark of a good school (59 percent), followed by having accelerated programs (53 percent), arts and music (49 percent), diversity (43 percent), and before- and after-school programs (41 percent).
Younger buyers were more likely than older buyers to cite diversity as a factor that makes for a good school — 49 percent for 18-34 year-olds, compared to 37 percent for 55-plus. More older buyers placed importance on whether a school has accelerated programs — 62 percent for 55-plus vs. 50 percent for buyers under 55.
With a limited number of homes available to buy in today’s real estate market, competition is fierce for homes in good school districts. Danielle Hale, Chief Economist for Realtor.com, explained further,
“Most buyers understand that they may not be able to find a home that covers every single item on their wish list, but our survey shows that school districts are an area where many buyers aren’t willing to compromise.
For many buyers and not just buyers with children, ‘location, location, location,’ means ‘schools, schools, schools.’”
For buyers across the country, the quality of their children’s (or future children’s) education ranks highest on their must-have lists. Before you start the search for your next home, meet with a local real estate agent who can explain the market conditions in your area.
Info Source: Keeping Current Matter
Homeownership Is A Part Of The American Dream
According to the latest Aspiring Home Buyers Profile by the National Association of Realtors (NAR), 82% of surveyed renters desire to own a home in the future, with 80% believing homeownership is a big part of achieving their American Dream.
The profile went on to state that 50% of millennials believe that their rent will increase, with 20% believing that an increase in rent will be the catalyst that pushes them to consider buying a home vs. renewing their lease.
So, what is holding renters back?
What would make renters take the plunge?
AR’s Chief Economist, Lawrence Yun believes that,
“Housing demand in 2018 will be fueled by more millennials finally deciding to marry and have kids and the expectations that solid job growth and the strengthening economy will push incomes higher.”
Yun goes on to warn that,
“However, with prices and mortgage rates also expected to increase, affordability pressures will persist. That is why it is critical for much of the country to start seeing a significant hike in new and existing housing supply. Otherwise, many would-be first-time buyers will be forced to continue renting and not reach their dream of being a homeowner.”
If you are one of the many homeowners whose houses no longer fit their needs and are looking to move up to your dream home, now is a great time to list your starter home! First-time buyers are out in force looking to achieve their American Dream.