Ah, the white picket fence. Commonly used to encapsulate the American Dream of home ownership. Kids playing in the front yard, parents embracing, you know…the whole big thing.
Lately though I’ve been noticing the fence more as a place to sit on when it comes to real estate decision making. I get it. It has been an incredible run of low interest rates and rising home values and we’ve deserved it after some trying times almost a decade ago. With some things changing in recent months it has made it a little more difficult for people to know what is best for them and up on the fence they go.
Let’s be honest, a fence isn’t a very comfortable place to sit…especially a white picket one. Let’s talk about what’s going on in the market right now and help you get your feet back on the ground and moving in the direction you want to go.
What a start to 2018 eh? The Thomas Fire has effected us deeply in so many ways locally and there have been some global shifts that also have begun to dictate that 2018 will be a year of change.
So, what do we know so far?
- Inventory is low
- Interest rates are rising
- Getting harder to qualify for a loan
- Very competitive, multiple offer situations
What should this tell you? The time to strike is here.
Sellers, time to capitalize.
Chances are if you bought your property pre-2008 or post-2008 you are sitting on a decent chunk of equity to cash in on. If you’re happy where you are at and don’t need to upsize or downsize in the next 7-10 years then feel free to stay put. However, if you see your living situation changing in that time period this would be the ideal time to cash in on your investment and leverage that equity on your next property.
Buyers, time to get in while the gettin’ is good.
With interest rates climbing the amount of house you can afford dwindles. Every tick of percent up jacks up your monthly payment and potentially prices you out of the type of home you really want. This is never fun news for me to have to deliver. With prices potentially settling a bit and interest rates still at historic lows, this is a great time to get in and get the house you really want rather than settling for something that doesn’t hit all your wants and needs later on.
Fences are for bordering property, not sitting. I’m always here to help.
I believe it is called the Midway, the section of the Ventura County Fair reserved for the carnival games They are bright, loud, and stocked with stuffed animals as far as the eye can see. My kids are drawn to this area like a magnet and of course they feel that an 8-foot gorilla would totally tie their room together.
A common complaint is that the Fair is too expensive, but for some reason we all still go. Yes it is pretty good hit to the pocketbook for a family of 4 to do the Fair right, but is the value there? Absolutely. We always have a blast and leave with big smiles on our faces. I think about how big of an operation it is to put on the Ventura County Fair. Coordinating something of this magnitude is not going to be cheap and I’m happy to pay for the professionals that work tirelessly to make my Fair experience the best it can be. If my money contributes to being able to see Salt N’ Pepa push it good, let’s be honest, it’s worth every penny.
When I met my wife over a dozen years ago and I got to look into her pretty green eyes the rest of the world disappeared. She had a child from another relationship and I can recall people questioning my decision to court her. A blended family isn’t exactly how society would draw it up, but that didn’t matter to us. For us, it was just right and 9 years later we are still making history.
This adorable couple, recently married, comes into my office with the blinding glow of eagerness and enthusiasm that you’d expect from a first time homebuyer. Both of them express how excited they were to get out and look at homes, learn about market conditions, and of course, could not take their eyes off each other the whole time. When I asked them how soon they wanted to move, they took their eyes off of each other for a moment and said, ‘that depends on….’. The long pause gave me ample time to realize they were thinking about having children. I held up my hand as to say ‘I’m with you’ and proceeded to ask them a few questions. By the end of the conversation they thought they would buy something small, just for them, and postpone having children until they could move up and keep this small place as an investment property. Smart, I thought, these young kids thinking about the big picture like that.
When confronted with the idea of Veteran’s Day today I can’t help but conjure up mental images of my grandfather piloting planes bringing supplies to soldiers during WWII, close friends who I grew up with who served bravely in the Middle East, and finally those who are currently serving in troubled areas not questioning their important yet dangerous duty.
Protecting Your ‘Family’
My thoughts turn to the nearest, but not closest by a long shot experience I’ve had in my life that I can compare to serving in the military, playing football. I can remember the deep, unspoken relationship with my teammates who became family. Guys I would do anything for, including sacrificing my body. What else would motivate you to grab onto two 300+ pound guys and drag them into the dirt? So your linebacker behind you could make the tackle of course! It is the community of football that I think brings the players together, for one cause, to win, at all costs. Just ask my busted shoulder which as painful as it is, still brings a smile to my face.