Spring’s Around the Corner:
I posted a video the other day on my Facebook page referencing the current real estate market. On November 17th 2023 there were 1,137 homes for sale in the Greater Antelope Valley Association of Realtors (GAVAR). Today, 3-1-2023, there are 631 homes for sale. This is approximately a 44% decrease in inventory. Yes, the time frame from November through February is typically a bit slower time of the year for home sales, but we are heading into the spring market and the inventory is shrinking. This is not typical. Mortgage rates have been on the rise for the past 2 weeks and properties are still selling. The current administration is going to have to figure out a way to curb inflation other than jacking up the interest rates because, if they put too many constraints on the housing market, the total economy will suffer. My reasoning? The housing market makes up about 20% of the jobs in the total economy. Realtors, lenders, appraisers, escrow, title, home inspectors and Builders/contractors… represent many trades i.e.… framers, electricians, painters, HVAC, roofers, concrete/cement workers and on and on.
I know the US economy is a big machine, and it takes time for the current financial policies to take effect. How about we just take a ‘wait and see’ every once in a while, to see EXACTCLY how the policy is working. Just because we have a scheduled meeting for the Federal Reserve, doesn’t mean they ‘have to’ raise interest rates. Again, we’re going to have to see how their plan plays out. Home prices are going to go up and buyers are going to need some assistance with higher mortgage payments.
On another note: The flyer enclosed has the top 5 colors for 2023. Here’s two quick tips I’ve learned when painting the interior of a home. 1. If you’re painting over a dirty area or an area that is oily, clean the area first. Paint sticks better when the surface is clean. 2. Use a cotton drop cloth as opposed to (or in addition to) the plastic ones. Plastic sticks to your feet and tends to move. I use a cotton drop cloth with ‘non-skid’ backing. This is great for slick surfaces like tile or wood flooring.
If you have any questions on this or any other real estate matter call, text or email me. I’m here to help… Oh, by the way, I’m never too busy for your referrals.
Sincerely, Ron Hier, (661) 406-1562
