EGBOK Does anyone remember this saying? "Everything's Gonna Be OK" was coined by the "Ken and Bob Company" morning radio program on KABC-AM Los Angeles, California (on the air from 1973–1990). I tell my kids this when they are stressed about something, and it applies to today in many ways as well. Sure, there are some scary things out there, but the world has been through worse. In terms of Real Estate,...
home ownership
“Be fearful when others are greedy. Be greedy when others are fearful.” Warren Buffett Based on a detailed review of the South Bay Real Estate Market, I believe we are coming into a window of buying opportunities that we have not seen in several years. The three key indicators that support my belief include the following: Days on Market have increased nearly 40% from a year prior; Months...
The real estate market is going through some interesting times this summer. We have low inventory, prices are holding at all time highs, and interest rates are up about 2% from the start of the year. When viewed with my 2021 goggles on, it looks like buyers have gone on vacation this summer. While some may just be on vacation and put their home search on hold, others may have stopped looking...
The Wealth Effect What is the wealth effect? It can be described in simple terms as “if my neighbor just got that price for their home, then I can get that or more for mine!” It’s the effect of seeing a too good to refuse number to get a seller motivated to sell. At least that’s what buyers are hoping. As prices continue to climb to record highs, it’s the wealth effect that often drives “maybe...