What's New

 

Here’s a look at what experts say you can expect this spring.

 

1. Mortgage rates will climb

 

Freddie Mac reports the 30-year fixed mortgage rate has increased by more than a full point in the past six months. And despite some mild fluctuation in recent weeks, experts believe rates will continue to edge up over the next 90 days.

 

As

Freddie Mac says: “The Federal Reserve raising short-term rates and signaling further increases means mortgage rates should continue to rise over the course of the year.

 

”

If you’re a first-time buyer or a seller thinking of moving to a home that better fits your needs, realize that waiting will likely mean you’ll pay a higher mortgage rate on your purchase. And that higher rate drives up your monthly payment and can really add up over the life of your loan.

 

2. Housing inventory will increase

 

There may be some relief coming for buyers searching for a home to purchase. Realtor. com recently reported that the number of newly listed homes has grown for each of the last two months.

Also, the National Association of Realtors (NAR) just announced the months’ supply of inventory increased for the first time in eight months. The inventory of existing homes usually grows every spring, and it seems, based on recent activity, the next 90 days could bring more listings to the market.

 

If you’re a buyer who has been frustrated with the limited supply of homes available for sale, it looks like you could find some relief this spring. However, be prepared to act quickly if you find the right home.

 

 

If you’re a seller, listing now instead of waiting for this additional competition to hit the market makes sense. Your leverage in any negotiation during the sale will be impacted as additional homes come to market.

 

3. Home prices will rise

 

Prices are always determined by supply and demand. Though the number of homes entering the market is increasing, buyer demand remains very strong. As Realtor. com explains in their most recent Housing Report:

 

“During the final two weeks of the month, more new sellers entered the market than during the same time last year… However, with 5.8 million new homes missing from the market and millions of millennials at first-time buying ages, housing supply faces a long road to catching up with demand.”

 

What does that mean for you? With the demand for housing still outpacing supply, home prices will continue to appreciate. Many experts believe the level of appreciation will decelerate from the high double-digit levels we’ve seen over the last two years. That means prices will continue to climb, just at a more moderate pace. Most experts are predicting home prices will not depreciate.

 

But won’t increasing mortgage rates cause home prices to fall?

 

While some people may believe a 1% increase in mortgage rates will impact demand so dramatically that home prices will have to fall, experts say otherwise. Doug Duncan, Senior Vice President and Chief Economist at Fannie Mae, says: “What I will caution against is making the inference that interest rates have a direct impact on house prices. That is not true.”

 

So again, if you’re a first-time buyer or a repeat buyer, waiting to buy likely means you’ll pay more for a home later in the year (as compared to its current value).

 

Bottom line… There are three things that seem certain going into the spring housing market:

 

1

. Mortgage rates will continue to rise.

 

 

2. The selection of homes available for sale will modestly improve.

 

 

3. Home prices will continue to appreciate, just at a slightly slower pace.

 

If you’re thinking of buying, act now before mortgage rates and home prices increase further. If you’re thinking of selling, your best bet may be to sell soon so you can beat the increase in competition that’s about to come to market.

 

(A portion of this content provided by Keeping Current Matters)

Julie

Welcome home to Tamarind Lane with sweeping views of the Tassajara Valley, Las Trampas and Mt Diablo. This spacious Mediterranean style home has 5 bedrooms in the main home plus an attached studio with bathroom, walk-in closet, kitchenette and its own entrance. The living room boasts tall ceiling, lots of natural light, and opens to the formal dining room. Dramatic family room opens to the kitchen and has a wonderful great room feel. Impressive primary suite offers double vanities, a large shower, soaking tub and large walk-in closet. Downstairs you will find a bedroom and full bathroom for convenience for guests or extended family. White chef’s kitchen offers all GE Monogram appliances in stainless steel, gorgeous granite countertops white tile backsplash, large walk-in pantry and an island with sink. With magnificent western exposure this expansive .36 acre lot has a pool, spacious lawn and room for a play structure, sport court or an outdoor structure.

Welcome to Round Hill Country Club on the private Tracy Lane. This Classic Dahlin designed custom home has character and grace. Enjoy the front courtyard or backyard with views of the Las Trampas Ridge. This traditional home has 4 Bedrooms plus a library, with the primary suite downstairs and two additional large suites upstairs the floorplan offers great versatility. The French doors in the living room offer nice natural light and open to the quiet courtyard. This home has oak hardwood floors, a kitchen/family room great room, with exposed beams and exquisite details in the ceiling. The large white kitchen has a nice walk-in pantry, granite countertops and a large chefs island. With magnificent privacy, this private lane is a short walk to the Round Hill pool, tennis, golf course and country club amenities. Enjoy the patios while entertaining in this gorgeous yard. This home offers built in BBQ , pool and spa, mature landscaping and large lush lawn.

Amazing single story home, in coveted South WC, recently renovated in 2017-2018. Open concept lifestyle with great flow to the backyard and all it has to offer. Gourmet kitchen with Wolf and Miele appliances (built-in refrigerator and 2 convection ovens), incredible 9' island, quartz counter tops, farm sink, wine fridge, 6 burner gas range with indoor grill, pantry and 2 dishwashers. Fabulous primary suite, oversized bedrooms, large closets, tile floors, vaulted ceilings, tubular skylights, 3 zone heating /AC, laundry and mudroom. Relish the seamless indoor/outdoor lifestyle with new paver driveway, private park-like grounds, cabana, bocce, expansive lush lawns, and gorgeous landscape.

 

 

Breathtaking ocean views, an expansive and idyllic garden setting, and exquisite amenities inside and out add up to a majestic resort-style compound of unmatched quality and beauty. Set behind gates at the end of a tree-lined drive, this exceedingly private estate commands 180-degree vistas from its two-acre bluff above Zuma Beach. Befitting an indoor-outdoor lifestyle of lavish entertaining and undisturbed sanctuary, the home is light-filled and open, with high ceilings, walls of glass, and brand-new hardwood floors throughout. The centerpiece of the main floor is the huge living/dining great room, with a fireplace, gorgeous ocean views and a patio just outside. The resort-like backyard, surrounding the Pebble Tec pool, is a magical collection of enchanting areas designed for dining, lounging, recreation, entertaining, and simply enjoying the non-stop panorama of sky, sea, and shoreline. Features include a large fire pit with seating, an outdoor kitchen/barbecue area, a private sandy beach-like vista point, stone fountains with torches, manicured lawns, and towering palms wrapped with sparkling lights.