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Fall Festival Big Announcement!

The Fall Festival is back and we couldn't be more excited! If you have been before then you know all about it and if you haven't been yet, you're still invited! This is our way to say "thank you" to all of our clients, friends and family. We would not be where we are today without any of you and giving back is one of the greatest ways to say thank you!

For more information go to:
TomPaul.info/events

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Fall Festival Big Announcement!

The Fall Festival is back and we couldn't be more excited! If you have [...]

Pranking Chris & Mel

Our clients closed... .... ..... or did they?

41542 Prairievista Place, Quartz Hill, CA

$619,900 4 bed + 3 bath Be refreshed by prestigious curb appeal [...]

1846 E Ave J2 #4, Lancaster, CA

$209,900 3 bed + 2.5 Bath Condo Be welcomed by this newly upgraded [...]

Eviction Moratorium Overturned

Touching base on the latest news with the Eviction Moratorium!

Cryptocurrency and Monday Market Update (August 23, 2021)

What does cryptocurrency have to do with a Monday Market Update? Watch [...]

17106 E Avenue K8, Lancaster, CA 93535

2 Bed + 2 Bath for $239,900 on just over 2.5 acres of horse property [...]

3726 Cocina Lane, Palmdale, CA 93551

3 Bed + 2 Bath Single Story Home in West Palmdale This cozy home [...]

Turn-Key Home in West Palmdale

Be welcomed by beautifully manicured lawns for this turn-key home in a [...]

Monday Market Update (August 16, 2021)

This weeks Monday Market Update with Thomas Paulauskas! What's going [...]

4304 Norval Avenue, Quartz Hill, CA

Beautiful 4 bed, 2.5 bath for $569,900 in Quartz Hill, CA Amenities [...]

Amp Up Your Team

We thrive on motivation, not just motivation from each other but [...]

5544 Cordiva St Lancaster, CA 93536

Exquisite Two-Story Home in Santa Clarita

Welcome to prestigious living on a quiet cul-de-sac, flowing with [...]

Housing Market on Fire or About to Crash

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Is the housing market about to crash? Or is the housing market going to reach new record highs?

Contracts signed during the four weeks ending July 11th decreased 7% from one year ago. Active listings that hit the market in the past four weeks rose 4.3% from one year ago.

The gap between housing supply and housing demand is starting to narrow, there is still a large gap. Inventory was down 28% from this time last year and pending listings is up 7% year over year.

As some articles state that the housing shortage may finally be starting to lift, other state that the shortage will be around for years to come.

From May to June new listings increased by 10.9%. In my local market it seems like similar trends are continuing week over week.

The National Association of realtors shared this update:
With demand outpacing supply, the median existing home sales price of properties that sold in the four weeks ending July 11th rose by nearly 18% from the level one year ago.

That pace is decelerating. In May the medial home sales price rose 24% on a year over year basis. That is a deceleration of 6%.

Recently homes were selling for more than 10% over the asking price.
Our most current data shows that they are still selling over the asking price, however at a reduced level, on average 4% over the asking price.

On a national level showings per house is down 17% year over year in June 2021. This basically means that less buyers are looking at each home. Which is not surprising with more inventory and slightly less demand this is a natural transition.

Rates for a 30 year fixed rate loan are around 3.04%. Keeping in mind the all time low was 2.75%.

Overall it is still a seller’s market, however to all of you seller’s out there it is time to get realistic about your pricing strategies. To all the buyer’s out there; competition is still high, however it has cooled off enough for you to get back into the market and buy a home if you have taken a break.….

Custom-Built Palmdale Home

Be mesmerized by this prestigious custom-built home on over two acres [...]

Housing Market Cooling? Real Estate Market Update

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Real estate market update.

Is the housing market cooling off?

US economy added 850,000 jobs last month.
With purchase applications declining that’s a direct indicator that buyer demand is also declining.
Mortgage applications hit their lowest level since the beginning of 2020.
Applications have dipped 1.8% from the prior week while refinances dipped 2%.
Home buyers are starting to hit their limit on home prices.
A survey shows that the percentage of people who say that home prices will go down has increased from 17% to 21%.
The same 88% of the same respondents said that they are not concerned about losing their job in the next 12 months.
According to redfin Home prices are still climbing however the amount of homes for sale with price reductions have hit levels over 2020 for the first time this year.
In additions they said June was a turning point in the ultra hot housing market of 2021 and that some buyers have hit their limit on price and are stepping back. New inventory is also starting to go back to pre-pandemic levels, which may finally ease some competition and bring more balance to the market place.
This could cause less bidding wars and bring some buyers back to the market.
Home prices have increased 23% year over year hitting new record highs. Newly listed homes were up 14% year over year, also new record highs.
As you can see prices started to decrease in July 2019, we have to wait and see if the market will follow the same pattern this year.
Here is a graph to show you how low our current inventory is. As you can see inventory has stayed pretty flat this year.
As you can see there was much more inventory in 2020 and even more in 2019.
The share of houses with price reductions has been increasing since march this year and it has now passed 2020 levels for the first time this year.
Mortgage rates have fallen reaching a 5 month low.
According to mortgage news daily the average rate is 3.07% for a 30 year fixed rate mortgage.….

Real Estate Market Update News

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July 6th 2021 Real Estate Market Update
Boom Or Bust?
Mortgage applications for purchases and refinances dropped 6.9% in one
week, hitting its lowest numbers in the past 18 months.

Refinances fell by 8% and purchases fell by 5%.

Purchase applications for conv loans declined last week to the lowest
level since last may.

The housing shortage may finally be starting to loosen up as more
homes hit the market. An article by Realtor.com states that newly
listed homes grew by 10.9% month over month.

With more inventory hitting the market you may think that means more
homes are also selling. Another statistic showed that pending homes
also decreased by 4% month over month. Which means not only are there
more homes hitting the market, but month over month less homes have
sold.

Overall inventory is still historically low.

Take a look at this graph by realtor.com. It shows the listing count
for each year all the way back to 2016. As you can see in 2020 there
was a massive decline in inventory which then started 2021 off with
some of the lowest inventory we have ever seen. We are now into July
and finally starting to see some potential inventory relief.

List price growth has started to moderate. June marks the 2nd month in
a row that the annual growth rate has decreased.

We are moving in the direction of a more balanced market. National
inventory currently sits at about 2.5 month supply. A balanced market
would be a 5-6 month supply.

Here is a mortgage rate update. The average 30 year fixed rate
mortgage dropped to 2.98%.

Lumber and commodity prices are beginning to reset back to where they
were around January of this year. Which is good news for builders,
contractors, and homeowners.

The moratorium on single family foreclosures and eviction has been
extended from June 30th to July 31st, 2021 with the agreement that
this will be the last extension.

The deadline to request mortgage forbearance has also been extended
from June 30th to sept 30th 2021.….