Orange County Housing Market News Josh Alexander

One of the most politicized issues to hit the housing market this year has been the new changes that just went into effect May 1st that impact home mortgage interest rates. There have been a lot of headlines out there that make it seem like people with higher credit scores will now be getting a higher interest rate than those with lower credit scores. This seems crazy, but is there any truth in it?

Want to have a friendly no pressure conversation about your specific real estate related questions? Schedule a 30 minute discover call with me by clicking here: https://calendly.com/joshalexanderrealestate/over-the-phone-informational-session

Josh Alexander
THE brokeredge
JoshAlexanderRealEstate@gmail.com
714.366.2186
DRE#:01974435

It MAY be hard to believe but the housing market in most price ranges is back to a seller’s market in Orange County as we head toward the summer. Open houses are packed and multiple offers are becoming more and more common as the weeks go on. How is this possible with home prices and interest rates so high? It all comes down to supply and demand, and right now we are dealing with the lowest supply of housing in Orange County for this time of year since at least 2004. We are almost 200% lower than where we should be right now. So even though demand is lower than normal as well, it’s nowhere near as low as supply and unless we see a spike in interest rates above 7%, which is becoming less likely by the day, this isn’t going to change anytime soon. Buyers, if you are thinking of buying a home this Summer the sooner you get into escrow the better it will be in terms of the price you pay. Sellers, get your home on the market NOW! There are so many buyers just waiting for the perfect home to hit the market and as long as you price and market your home correctly, you’ll be able to get into escrow in less than a month in most prices ranges again. This is an especially great timing for anyone looking to buy and sell a home after the school year is over because we are only a few weeks away from summer in most school districts around Orange County.

Want to have a friendly no pressure conversation about your specific real estate related questions? Schedule a 30 minute discover call with me by clicking here: https://calendly.com/joshalexanderrealestate/over-the-phone-informational-session

Will the market crash in 2023? Over the last 6 months that has been the most popular question I've had conversations around with both home buyers and sellers and it makes sense. It's natural the think back to the last time we saw homes lose value and use it as a reference, however in this case, the last time we saw home prices fall consistently was during the housing crisis of 2008 where we saw a once in a generation crash of 30-40% in home values. So with all the uncertainty in the market are we about to see a housing crisis 2.0? That is exactly what I'll be discussing today. We will look at the reasons for the last housing crash and compare them with what is happening today to give you a much better insight on the current market and the chances of a major correction happening anytime in the near future.

Want to have a friendly no pressure conversation about your specific real estate related questions? Schedule a 30 minute discover call with me by clicking here: https://calendly.com/joshalexanderrealestate/over-the-phone-informational-session


Josh Alexander
THE brokeredge
JoshAlexanderRealEstate@gmail.com
714.366.2186
DRE#:01974435

Surprising even me, the popularity of the California Dream for All Loan program offered by CALHFA that gave buyers up to 20% downpayment assistance caused buyers to flood to it depleting the $300,000,000 in funds in under 2 weeks! I knew the original timeline that they thought it would last(which was until the end of Summer) was way to optimistic but I was assuming it would at least last for a month or two but here we are. However, I still wanted to put out this recent webinar I did with Mina Yusada from Guaranteed Rate Affinity because there is a lot of great information about how this whole program works and we really go into detail about the pros and cons as well. There is also a chance that some of the funds that have been reserved by current buyers that went into escrow eventually get put back into the program if those buyers fall out of escrow and on top of that California has already said that due to it's popularity and the way the program was supposed to work they would look at putting more funding towards it if future budgets allowed. So hopefully this video will be useful for those buying a home in the future as well.

Now, if you did want to use this program but missed out, remember that CALHFA does have a lot of other home buying assistance programs available, some of which will cover up to 3.5% downpayment as well as closing costs, so although you can't currently get the full 20%, those programs could help many buyers reach their home buying goals. I'm sure I'll do some additional videos on these programs in the future so make sure you don't forget to subscribe so you don't miss it!

Want to have a friendly no pressure conversation about your specific real estate related questions? Schedule a 30 minute discover call with me by clicking here: https://calendly.com/joshalexanderrealestate/over-the-phone-informational-session

Josh Alexander
THE brokeredge
JoshAlexanderRealEstate@gmail.com
714.366.2186
DRE#:01974435

Have we reached the bottom of the housing market downturn in Orange County? The data seems to all be pointing that way. Open houses are packed and multiple offers are becoming more common place again. Demand has been increasing for a month strait, inventory still is struggling to go up, and rates have dropped again. This is all leading to a very real chance that if these trends continue, we will see the housing market in Orange County stabilize as we go through April and we could even start seeing home prices rise again by the end of the month in certain cities and neighborhoods. So if you are thinking of buying or selling a home in the next few months what should you do? That's exactly what I will be going over in my April housing market forecast for Orange County so check it out!


Want to have a friendly no pressure conversation about your specific real estate related questions? Schedule a 30 minute discover call with me by clicking here: https://calendly.com/joshalexanderrealestate/over-the-phone-informational-session

Josh Alexander
THE brokeredge
JoshAlexanderRealEstate@gmail.com
714.366.2186
DRE#:01974435

Looking to raise your credit score quickly? Giving advice is one thing, but taking my own advice and applying it is another. In today's episode I go over a 3 month experiment that I ran with my own credit score to see what impact I could have if let my credit debt build up and then paid it off all at once. The results were surprising! I knew that my score would go up but how much and how fast it went up took me off guard. In this episode I show you what I did as well as go over three situations where this could help you buy a home and save tens of thousands of dollars.

Want to have a friendly no pressure conversation about your specific real estate related questions? Schedule a 30 minute discover call with me by clicking here:

https://calendly.com/joshalexanderrealestate/over-the-phone-informational-session