The Whittier Monday Market in Minutes- April 4th, 2022

 

FEBRUARY, 2022 Thanks to – James Joyce  for this months' subject line quote!  Welcome!!!   I hope that all of you had a very Happy Valentine's Day! And here's hoping that the rest of the year will be smooth sailing for everyone. Of course "smooth sailing" is a relative term. Let me just say- I hope you have an abundance of successes throughout the rest of the year however you define "success"!  Wondering who succeeded in winning this month's gift card giveaway? Read on and find out! GIFT CARD GIVEAWAY WINNER This Month's Winners are - P and J LANDEROS!!!   Congratulations MR. AND MRS.LANDEROS! I'll put your giftcard in the mail as soon as you provide me with your current mailing address!   Good luck to everyone in next month's drawing!       Reminder: My monthly DreamSweeps Sweeptakes is also held each month and your Facebook account can make you a WINNER! Enter each month for a chance to win $500 in prizes! Get all the details at:    DreamSweepsEntry   Feel free to "Like" my FaceBook page while you're at it.   Entrants must be over 18 years old, have a FaceBook account and live in one of the 50 U.S. States or District of Columbia (see official rules for complete details).  MARKET  UPDATE JANUARY 2021    1 YEAR CHANGE IN AVERAGE SALES PRICE:  +19.2 % 1 YEAR CHANGE IN # OF HOMES FOR SALE:  - 34.7 % 1 YEAR CHANGE IN # OF CLOSED SALES:  -10.3 % The statistics for January are almost identical to the ones from December. The average sales price increased a percentage point and the number of homes for sale decreased by 3 points. Looks like we are still on the same trajectory that has become so familiar for so long. How long will these trends continue? No way to tell for certain, but I will continue to monitor the numbers and keep my finger on the pulse of the market. And you can be sure that I will share the results with you here each month! One thing is certain- interest rates are going to be rising throughout the year. As they do, the sales price of homes that buyers can afford goes down (for example, a buyer qualified for a $1,000,000 home purchase today would only qualify for a $910,000 for the same payment with a 1% rate increase). And seeing that sales prices don't seem to be going down buyers should really think about acting now while they can still take advantage of the lowest rates they are likely to see this year. Of course this means that the number of buyers qualified to purchase higher priced homes will decrease as interest rates increase as well. That would suggest that home sellers should also act now if they want to tap into a larger pool of qualified, ready and able buyers. Which just goes to show how there are a lot of moving parts to the Real Estate market.   If you are ready to Buy or Sell a home, Let's Talk!    Contact me now to schedule a confidential consultation via phone or video at:   562-544-2237 or neal.fugate@hotmail.com   Or access my online calendar here to choose a time:   Schedule an Appointment   It will be great to hear from you! EXTRAS Realtor.com asks "Why aren’t home sellers selling, given those that do stand to make a tidy profit today?" Find out in this post:  Is the Housing Market Stuck? And here's some great news for home owners from Next Mortgage News: Over 40% of mortgaged homes are equity rich Also from Realtor.com- learn about first time homebuyer assistance programs in California! : California First-Time Home Buyer Assistance Programs for 2022 And here's this month's chuckle courtesy of Realty Times: IN CLOSING I hope you and yours have a great Valentine's Day, however you choose to spend it- whether that includes flowers and bon bons or not! And as always, when you and your family and friends can use the services of a Real Estate professional-  I'm here to help.  Contact me anytime at:   (562) 544-2237  or neal.fugate@hotmail.com   Best regards,   Neal You can Search for a Home, discover your Home's current value and do much more at: www.nealfugatehomes.com