Fair Question: is there a Bubble as in 2007-2008? Is the market changing? Is the shortage going long?
For owners, values and prices are up. But what we are seeing, is an increase in new listings and supply that might signal a return to more normalcy or a change in the weather vane we all remember from Mary Poppins…things going south.
So, when an owner is thinking of selling this summer, keep in mind this isn’t 2016-2017. But then it isn’t 2011 either, where the market bottomed after mortgage defaults had become as plentiful as politician lies.
He’s a smart guy in real estate, 40 years in the news business (another great piece on the Capitol Gazette tragedy in Mon, July 9th edition).
I have read Mr. Lansner with the OCRegister for years, as many of you may have. His thoughts are important to consider. Price upswings, higher cost of mortgages as economy improves, buyer budget strains, as the SCNG real estate guru points out, is a mix you can’t ignore for the buyers. I follow, to aid my clients, numerous studies but the easiest study is three dimensional you can see on your AnyCity’s street corners Saturday and Sundays this month:
Lots of open house signs.
Meaning not all homes sell before the listing ink dries.
My seller clients know this; they also know to be patient, to defrag (we stage houses of course to maximize potential) and declutter. My licensed assistant, Briana posted a piece on this recently. People need to see the diamond before they can decide if they want it set in gold; you can’t if the facets are all mirky and covered up.
But, IF you are thinking, maybe now’s the time, call us. 714 267 1413. There are a lot of
road bumps and humps (bumps are bigger than humps apparently), but all are surmountable. Tax issues, 1031 tax implications, valuation and property tax rate retention.
I deal with probate and trust questions (most real properties recorded at the county seat have no trust protection making Uncle Sam or Jerry your executor), such as if you are 18 and DON’T have one, why? You aren’t more important than your choice of burger or wines?
1513 Brookhurst <> Clark Allgeyer historic home built in 1914
Lots to consider in choosing your representative to sell. We still do house calls. In fact, we are SOLD on helping you make the right decision.
Here’s a featured listing of ours. 1513 Brookhurst has a 100+ year old historic house that was moved 50 years ago from Anaheim to Fullerton. Before the 91 Fwy was built. The large 12,000 sq ft mini estate lot already had a dwelling, a 1 bd 1 bath with garage. Today you can get two on a lot, with a
masterfully crafted main house, 3000 sf of driveway concrete to put your cars and RVs and a private gated entrance.
Don’t let the $949K price tag scare you: today, loan money costs you about $4.77 per thousand borrowed per month.
This means should you rent out the 2nd unit, for say $1500 a month, that means about $314K in mortgage costs are covered by your tenant.
Who wouldn’t jump at the chance to have a private 4/5 bedroom mini-estate with marble, custom hardwoods, private hidden movie screen, 2500sf and more for less than $600K. In fact, we will toss in the external bath for free: the outhouse on the grounds. So, when you want to pass through the gate, give us a call.
Happy to meet you on an hour’s notice. But don’t miss out: time IS of the essence.
You can have mother in law within eyeshot but not earshot. Beloved or not. Or a guest house, mancave, she shed, or ??
Call for details on this. Also, coming soon is the home with the son (or daughter?) of the world’s largest tree, right here in Santa Ana.
For our buyer clients in the market, maybe the equalizer bunny is pounding his drum. Time will time. But, like in life, time IS of the essence. Don’t delay! Call us for details
By the way, Millennium 3’s tomatoes and eggs division has been known to surprise our beloved clients on occasion with the fruit of God’s green earth from time to time. When you have 11 kids, you make your homestead kick in a little. ~Len
Len got his MBA in 1975. He has been a real
estate guy who makes house calls since 1988.
Broker/owner since 3/3/2000, when he founded Millennium 3 Real Estate just after the Y2K confusion. The needs of his clients must come first. Majority of his practice is for typical families’ and investors’ home needs. But, he has handled commercial as well as court involved sales, including the $100 Million MediCal surgery fraud Unity case, the Waste Management Copa de Oro mansion, the $666K commercial bar and other interesting property situations.
He understands probate, trusts and conservatorships~ 1031 issues and ways to maximize your future plans with tax deferred strategies. Thinks from your perspective and needs~~not his.
Text or call Len at 714 267 1413. After all, your real estate decisions ARE important ones. Even if you DON’T SELL ever or for decades.
<<<Yes, this local tree IS a son/daughter of the General Sherman, the world’s largest tree by volume. Just not in the Great Sequoia Nat’l Park. The family blames it on a grandmother who brought back a cone 6 decades ago…or was it a kid in the snow after snow dropped a minor branch. It graces 2217 Laird and the listing broker is promising a typical national park style sign with the new owners’ family name to grace its base.
StubHub or TixMaster: I’m not sure that you can sell tickets for a private showing once you buy the house, but there’s probably an app for that. A rare SoCal redwood on the way to giant status~in about a century or 2.
Enjoy the holiday month. In case you aren’t a real estate guy who crunches numbers for a living, July 4, 2018 was the 88,388th day since the first signing. It IS a great day to be alive…and to consider real estate, an important component of the original Declaration (prior to rewrite for the Southern slave states) of “Life, Liberty & Property”~~ real and personal property apparently relies on life and liberty to pursue the happiness of home ownership.