National Housing Trends January 2018

Angela Yglesias

Levesque Realty 

Cell: 805-490-4944
Phone: 805-490-4944

Representing residential and commercial buyers and sellers in Ventura and LA Counties.

Housing Trends January 2018 View archives

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National market update

Existing-Home Sales Soar 5.6 Percent in November to Strongest Pace in Over a Decade

WASHINGTON (December 20, 2017) — Existing-home sales surged for the third straight month in November and reached their strongest pace in almost 11 years, according to the National Association of Realtors®. All major regions except for the West saw a significant hike in sales activity last month.





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The U.S. Metros With the Best—and Most Miserable—Commutes

What was the most epic, death-defying commute of all time? Lewis and Clark traversing the western United States? Moses and his people crossing the Red Sea? Noah and the Ark? Or was it you last Thursday—sucking down highway fumes in a soul-crushing, bumper-to-bumper expedition to arrive at work on time?





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National housing indicators

Existing home sales (November)

5.81 million units*

Existing home median price (November)

$248,000

Housing Starts (November)

1.297 millions units*

New home sales (October)

0.685 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

3rd Quarter 2017

63.9%

2nd Quarter 2017

63.7%

The homeownership rate of 63.9 percent was not statistically different from the rates in the third quarter 2016 (63.5 percent) or the second quarter 2017 (63.7 percent).

New home sales

October 2017

+6.2%

November 2017

+17.5%

Sales of new single-family houses in November 2017 were at a seasonally adjusted annual rate of 733,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 17.5 percent (±10.4 percent) above the revised October rate of 624,000 and is 26.6 percent (±16.6 percent) above the November 2016 estimate of 579,000.

Source: U.S. CENSUS BUREAU

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Regional market updates

View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

Local Prices & State Sales

• CA - Anaheim-Santa Ana Region Real Estate Market
• CA - Los Angeles Region Real Estate Market
• CA - Riverside Region Real Estate Market
• CA - Sacramento Region Real Estate Market
• CA - San Diego Region Real Estate Market

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Local Sales & Price Activity

• CA - Northern Bay Region Real Estate Market
• CA - Inland Empire Real Estate Market
• CA - Los Angeles Real Estate Market
• CA - Pleasanton & Alameda County Real Estate Market
• CA - Riverside/Coachella Valley Real Estate Market

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Disclaimer: The views, opinions, statements and/or ideas expressed in this Message Section do not reflect the ideas, policy, position, views or opinion of Move,Inc.

Consumer tips & hot properties

These 10 U.S. Housing Markets Will Rule 2018

What do the most promising housing markets of 2018 have in common? For starters, they're more affordable than some of the buzziest coastal cities.



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These Real Estate Trends Will Be Game-Changers in 2018

From housing inventory to price appreciation to generational and regional shifts, these are the top trends that will shape real estate markets next year.



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Out With the Old: The 10 Tired Interior Design Trends You Need to Ditch in 2018

Teaser copy: We've chatted with experts from coast to coast to come up with the top 10 we'll be happy to bid farewell in the new year.



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Do These 12 Things to Boost Your Chances of a Great Sale

Before you put your house on the market, make sure you haven't forgotten any key steps.



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13 Surprising Things in Your House That Are Grossing Out Your Guests

In your panic to prepare for guests, you may actually have overlooked some truly disgusting stuff.



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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.

National Statistics

• Housing Affordability Index
• National Existing Home Sales
• National Sales Price of Existing Homes

Statistics by City or Metropolitan Area

• Single-family Home Prices
• Condo/Co-op Prices

Regional Statistics

• Existing Home Sales
• Sales Price of Existing Homes
• Existing Single Family Home Sales
• Sales Price of Existing Single-Family Homes
• Existing Condo/Co-op Sales
• Sales Price of Existing Condo/Co-op Homes

Source: NATIONAL ASSOCIATION OF REALTORS®.

Housing Trends eNewsletter is filled with U.S. Census Bureau key market indicators, consumer videos, blogs, a real estate glossary, mortgage rates and calculators, consumer articles, real estate radio, realtor.com® local community reports and local and national real estate sales and price activity provided by local MLSs and the National Association of REALTORS®.

Subscribe to the free Housing Trends eNewsletter to receive it each month. You can unsubscribe at any time.

Information contained in this eNewsletter is compiled from a variety of sources. The accuracy and authenticity has not been verified by Move, Inc., is subject to change, is provided "as is" and is not guaranteed. The views expressed herein do not necessarily reflect those of Move, Inc. Move, Inc. makes no representations or warranties of any nature with regard to the privacy and/or business practices of the websites linked from or to this eNewsletter nor the accuracy and authenticity of any information contained in such websites, and is not responsible for any content contained in any linked site or for any action or lack of action by any linked site whatsoever, including their use of any information they may collect.

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Learning the ABCs of FICO

Most people don’t think too much about their FICO scores until they want to get a loan. But no matter the type of loan you want – mortgage, new car, or whatever – the higher your  FICO score, the more likely you’ll be approved.

Understanding the five factors that make up your scores can be the first step toward improving them. Financial experts at the Motley Fool break down where your scores come from and suggest a few ways to improve them:

Know where your FICO score comes from:

Payment history. Thirty-five percent of your score is determined by whether you pay your bills on time every month.

Credit utilization ratio. Thirty percent reflects your credit utilization ratio – the percentage of available credit you're using. Using less than 30 percent of your available credit can help your credit score.

Length of credit history. Fifteen percent reflects the length of your credit history. Paying bills consistently over time can definitely work in your favor.

New accounts. Ten percent of your score is based on the number of accounts you open. Opening too many new accounts simultaneously suggests you're highly reliant on borrowing to keep up with your expenses.

Credit mix. Ten percent reflects the types of accounts you have. Credit bureaus make a distinction between your credit card accounts versus student loans, car loans, and mortgages.

Three ways to improve your FICO:
Pay off a chunk of your balance. If you carry a balance, pay off as much as you can, even if it means you must work a second job or sell off stuff you no longer need or use.  

Ask for a raise in credit limit. If you’ve paid your bills consistently, this may not be difficult to get – and since your credit utilization ratio carries significant weight, that should help to improve your overall score.

Correct reporting errors. It's estimated that 20 percent of credit reports contain errors. If you spot one on yours – such as an error in the amount you owe or a paid-off account not shown – getting it corrected will almost certainly boost your score. Review your FICO score for free once each year and make sure it's accurate. 

Don't Wait Until The Spring Or Summer To List Your Home

Planning to sell your home this year?  Most people know that spring and summer are considered high season in real estate and it is an excellent time to sell.  That said, you may not want to wait and may want to list before then.  Why???  Because, you will have more competition for one thing.  Many people are probably aware that we have been experiencing record low inventory for a couple years now.  So, yes, it is definitely a perfect time to sell regardless.  And, there is no shortage of buyers ready to purchase your home.  Still, waiting until the time that most other sellers list their homes can possibly keep you from getting, higher traffic, potential multiple offers, higher offers and just overall less interest in your property.....because of the increased competition during high season.  There are buyers out there that need to move right now and can't wait until spring or summer.  Not sure your home is ready to list?  Contact me to come and look at your property so I can provide you advice on getting it ready....both inside and out.  If selling your home in 2018 is one of your new year's resolutions, contact me to find out how I can help you get it done.

Why work with an agent at a boutique brokerage?  Boutique companies pride themselves on catering to clientele who are looking for something different. We offer a more personal, one on one experience where the client’s desires and preferences are carefully understood and acted upon. The national real estate market is evolving, boutique firms are enjoying a resurgence across the country while rapidly expanding market share…why?

Advantages of boutique firms vs. big box real estate corporations:

• Small staff of experienced professionals 
• Specialize in superior  “white glove” customer service
• Wholly committed to protecting the safety of clients information and possessions
• Specialize in marketing for a smaller client base
• Highly skilled in technology and social media marketing
• Strive to forge strong relationships with clients
• Always cognizant of the importance of the client’s time
• Higher level of repeat customers and referrals
• Proud sponsors of local charities

Let's list your property before there's a lot more competition!  I can advise you on every step of the process of getting your home sold.  Need to take care of some repairs or remodeling beforehand, I can help with coordinating anything that seems overwhelming right now.  Something else unique about our brokerage, we provide services before and after the actual sales transaction, if needed.  Call and/or text me at 805.490.4944 and/or you can email me at yglesias75@gmail.com.  I look forward to hearing from you and helping you every step of the way.

Levesque Realty, 25 years of experience serving both buyers and sellers of real estate in the Conejo Valley and all surrounding areas within Ventura and Los Angeles counties.

A Blockchain Future? Cryptocurrencies Gaining Traction in Real Estate Industry

Bitcoin started out as blockchain technology with an innovative ideology for a more secure monetary future, and is now taking hold in the real estate world. Bitcoin and other cryptocurrencies, although not yet mainstream, show promise in an industry that typically prioritizes buyers who can provide secure funds for a property in a short amount of time.

Widely misunderstood, cryptocurrencies work through blockchain technology that creates a linear series of blocks of code, which are then used to create a record of each transaction and its access point. The technology uses unique access codes that can be used from nearly anywhere in order to share data in a transaction. Essentially, Bitcoin and other forms of blockchain currencies cut out a central authority, using varying individuals to authorize the payment in order to ensure an impartial and secure transaction.

Some alternative blockchain currencies have wavered in price steadiness, but Bitcoin has consistently gained since its initial unveiling in 2009. Bitcoin’s value skyrocketed to nearly $20 thousand between July and December, and has now leveled off to around $16 thousand.

Bitcoin boasts the following advantages (on its website):

• Freedom to make or receive payments from anywhere in the world and at any time
• Fees are not tied to the transfer amount and can be chosen at the discretion of the user.
• Transactions are more secure because they do not contain sensitive customer information.
• Users can protect their funds with added backup methods and encryptions.
• The Bitcoin supply is transparent and cannot be manipulated because it is cryptographically secure.

More and more real estate businesses related to Bitcoin and other cryptocurrencies are beginning to form. One, the International Blockchain Real Estate Association, is a trade organization that was founded in 2013 and implements blockchain in real estate. The association states that using cryptocurrencies in a real estate transaction can “reduce costs, stamp out fraud, speed up transactions, increase financial privacy, internationalize markets and make real estate a liquid asset,” according to its website.

But the technology is not without its vulnerabilities. While the unique codes provide some measure of security, they alone cannot prevent cyber fraud. Just last month, a Youbit heist in North Korea made international headlines as one occurrence in a series of events to try and steal from cryptocurrency exchanges and individual investors. Even Bitcoin is aware of its own challenges; its website cites that the degree of acceptance is low, currency volatility is an issue and the software is still undergoing development in order to make it more secure and accessible to the masses.

Bitcoin also needs to compete against multiple popular cryptocurrencies if it wants to stay on top. Here are the biggest contenders:

• Ethereum
• Ripple
• Litecoin
• Dash: Digital+ cash
• NEM
• Monero
• Zcash

While some luxury homes are listed with a Bitcoin price tag, the industry is seeing a lot more rental opportunities welcoming the blockchain technology. For example, ManageGo is a New York-based company that allows renters to pay with virtual currency—whether that be Bitcoin, Ethereum or Litecoin—all from an app. With this technology, landlords can eliminate the chance of bounced checks and receive funds by the next day. The app also works as an all-in-one support platform that allows renters to create and track maintenance requests. This is a way to attract renters that may be unsure about paying with Bitcoin, but now have the bonus of timely building maintenance and support to convince them.

Additionally, while buyers, especially home investors, are more willing to invest their cash in Bitcoin and other cryptocurrencies, sellers are wary of accepting a form of payment they are unfamiliar with. Many online marketplaces, such as Overstock.com, Namecheap and Reddit, are now accepting Bitcoin purchases, but it is not yet widespread enough to become a regularly accepted form of payment in a real estate transaction. Most agents are also unfamiliar with blockchain technology, and may decide to forgo working with sellers or buyers who say Bitcoin or other cryptocurrencies are the only payment method they will use.

As Bitcoin gains popularity, and, if more businesses begin to accept it as standard purchasing power, only then will the real estate industry begin to really consider the technology. Its use may also largely depend on location. Will it be used at the national level, or will it be relied on mainly for international transactions in order to avoid other volatile currencies?

Liz Dominguez is RISMedia’s associate content editor. Email her your real estate news ideas atldominguez@rismedia.com. For the latest real estate news and trends, bookmark RISMedia.com.

Zillow: Gains in Housing Now Make It Worth $31.8 Trillion

A banner year.

Another $2 trillion was added to the housing market in 2017, brought to a collective $31.8 trillion, according to a recently released report by Zillow. On an annual basis, home values increased 6.5 percent last year; values last expanded at a faster pace—8 percent—in 2013.

The additional $2 trillion, put another way, doubles Apple’s recent $900 billion valuation.

“This was a record year for home values, as the national housing stock reached record heights in 2017,” says Aaron Terrazas, senior economist at Zillow. “Strong demand from buyers and the ongoing inventory shortage keep pushing values higher, especially in some of the nation’s booming coastal markets.”

Los Angeles, New York and San Francisco were the most valuable major markets last year, at $2.7 trillion, $2.6 trillion and $1.4 trillion, respectively. No other exceeded $1 trillion. Columbus, Ohio, grew at the quickest pace, 15.1 percent, followed by San Jose, Calif., at 13.5 percent, Dallas-Fort Worth, Texas, at 12.3 percent, Seattle, Wash., at 11.7 percent, and Tampa, Fla., at 11.3 percent.

More than $485 billion, meanwhile, was spent on rent in 2017, the report shows. The figure is a 1 percent, or $4.9 billion, increase from 2016.

“Renters spent more than ever on rent this year, but the amount they spent grew at the slowest pace in recent years as more renters transitioned into homeownership and new rental supply slowed rent growth across the country,” Terrazas says.

According to Terrazas, housing this year is likely to maintain the status quo, even with changes to the tax code.

“Despite recent changes to federal tax laws that have historically made homeownership financially attractive, the long-term dynamics pushing up home values and rents are unlikely to change significantly in 2018,” Terrazas says.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas atsdevita@rismedia.com.

For the latest real estate news and trends, bookmark RISMedia.com.

How to Find Your Perfect Neighborhood

If you’re shopping for a new place, you may find the perfect home—but remember, you also need to consider the neighborhood to make sure the community and location are right for you.

For those with children, the neighborhood’s school district may be at the top of your priority list. Check out the public-school ratings, or if you plan on sending your kids to private school, look at the pricing and make sure it’s something you can afford.

It’s also a good idea to look at nearby parks and community centers to check out what type of recreational activities are available for children. Most kids are going to want to play a sport or be involved in an extracurricular activity, so make sure that your potential community offers them.

Are you someone who can’t survive without their daily Starbucks coffee or are you an organic shopper who has a certain store they must shop at? Check your GPS to see how far your favorite locations are from the potential home. While you’re at it, look at local restaurants and read the reviews on Yelp to see where you might be getting that Friday night pizza or where to go for a romantic night out.

Don’t forget to look at how far your new home will be from work and where the nearest public transportation is located if you need that option. And as for train stations, make sure they offer parking spaces—many places are so crowded there is a waiting list. If you do drive, you’ll want to understand the traffic patterns to and from your job. You won’t want to waste half your day in traffic.

Take a gander at the living conditions of the neighborhood. Do you see a lot of fences and “Keep Out” signs? Are there many kids on the block? Do people walk their dogs on the street? Are there posted neighborhood events? Visit on a weekend day to say hello to some of the residents and ask about the neighborhood before putting in an offer.

You’ll also need to learn if your potential new home is part of a neighborhood association and if your community has lawn or construction restrictions. If so, what fees are involved? The last thing you want is to find out you can’t put those holiday decorations up because of a strict town ordinance.

Some people may want to live in a historic neighborhood with a lot of character, while others may want a newer development with more modern features. Everyone is different and you need to make sure that your perfect house is in a neighborhood that meets your needs.

New Year, New Home, Thinking About Moving Up In 2018?

It's 2018!  Is this the year that you are going to move up into your dream home?  If so, start the year off with listing your current home.  We are here for all of your real estate needs. We can get your current home sold and find you your dream home.  It is an honor and privilege to serve you.  We represent clients in both Ventura and Los Angeles counties.  Call us today to find out about all of our services.

2018 Design Forecast: Color Me Purple

The color of 2018 is no shrinking violet.

Pantone, the authority in color for design, fashion and more, recently debuted its 2018 Color of the Year: "Ultra Violet." The color—"dramatically provocative and thoughtful," according to the company—is cool and cosmic, with an otherworldly vibe.

Image Credit: Pantone

"We are living in a time that requires inventiveness and imagination," says Leatrice Eiseman, executive director of the Pantone Color Institute. "It is this kind of creative inspiration that is indigenous to Pantone 18-3838 Ultra Violet, a blue-based purple that takes our awareness and potential to a higher level. From exploring new technologies and the greater galaxy, to artistic expression and spiritual reflection, intuitive Ultra Violet lights the way to what is yet to come."

Related: How Does the Color of Your Home Affect Buyers?

At home, the hue can be incorporated sparingly or as a statement, from artwork to furniture to walls.

By many measures, the latter part of Roy G. Biv will reign supreme in 2018. Experts at the Paint Quality Institute (PQI) are forecasting rich, spirited tones, including deep blues and purples, while paint providers Dunn-Edwards, Pratt & Lambert and Sherwin-Williams are predicting a blue-green range of shades:

"The Green Hour"

Image Credit: Dunn-Edwards

"Heron"

Image Credit: Pratt & Lambert

"Oceanside"

Image Credit: Sherwin-Williams

How will you add the 2018 colors of the year to your home?

Posted on Dec 15 2017 - 1:27pm by Suzanne De Vita