Knowledge Center

KNOWLEDGE CENTER

Designed to help inform you on a variety of Real estate topics relevant to the current State of affairs. Don't see a topic you'd  like to learn more about? Reach out to me anytime at courtney@breakinggroundre.com and I'll follow up with you asap!

Spring, a time of Growth, Renewal and Misery for some...

                                                                                        May 31, 2023

Spring, a time of birth, growth, and renewal. Nature is hard at work transforming itself and spreading

seeds for the future. This transformation can be seen all around us from the flowers in bloom, to the

baby birds chirping. And just as nature is hard at work transforming itself, so do we begin to transform

ourselves and our living situations. (i.e it’s the start of home shopping season.)

Whether this means looking to buy a first home (birth), buy a new home (growth) or just a simple spring

cleaning (renewal), the seeds of change are all around us and overwhelmingly evident in the hot spring

real estate market.

The spring market is historically the busiest time of year for agents, and although it started late, this year

is no different. I am personally involved in six transactions as of this writing. Six. That is quite the

contrast to the slow and dreary winter market. With home buyers coming out of hibernation, home

prices are on the rise and competition is fierce.

In nature, this beauty and rebirth sometimes comes at a price, such as the misery of seasonal allergies.

For many the spring real estate market causes its own seasonal misery. The devastation of a losing offer,

low inventory (currently at historic lows), and a competitive market can feel absolutely miserable —just

like my seasonal allergies.

To deal with spring allergies, you need to take action by taking antihistamines, eye drops, nasal spray,

etc., or maybe you just hide inside. To deal with the spring real estate market, you also need to take

action. Here are a few recommendations.

Have your preapproval ready to go, you are not putting in any offers without it unless you intend to

offer all cash. Buyers, go aggressive for what you want. This is not the market to try and haggle over a

few thousand dollars. Be ready to view listings as soon as they come on market. As they say, the early

birds get the worm.

Most importantly, next to getting preapproved, find a great agent and listen to them. Your best friend's

cousin or your ex-girlfriend is not an expert unless they are in real estate. Looking at values on Zillow

does not qualify as valuation expertise. I cannot emphasize this enough. Listen. To. Your. Agent. An

experienced agent knows the market. They are there to guide you and advise you. Having a great agent

is always crucial to success, but never is it more evident than in the spring market.

I recommend you not do the following:

Make passive offers, wait to see what is going to happen, listen to your friend who bought a house

during the market crash, put in offers only with listing agents, sell your home as a FSBO (For Sale By

Owner), and stay inside and hiding. Leave that for managing spring allergies.

To everyone out there competing in this hot spring market I wish you the best of luck. Unless I'm up

against you that is.

Courtney Ayers | 925-818-9649 | Dre #02121181| Breaking Ground Real Estate

Dreams come true ..even after "Dreams"collapse.

                                                                                                          May 1, 2023

If you are a first time home buyer, read my article in last month's Gazette or have listened to the news at all then chances are you heard about the amazing "DREAM for all" program and it's collapse after only 10 days! The collapse of this program, which was meant to be a lifeline to those who dream of buying their own home but lack the down payment to do so, left many people devastated and at a loss for options. I, myself was among the scores of Realtors that had anxious qualified buyers left devastated by the programs untimely demise. 

A particular client of mine, undeterred by the collapse, licked their wounds and went back to searching , but with a  modified criteria. In an Incredibly competitive market , with few options and with only modest funds, it was looking like this would be the end of the line for their dream of home ownership. Until I found them an off market deal.

As an area specialist I have many connections. Through these connections I was able to identify and negotiate an off market deal that benefits both the buyers and sellers greatly! By striking this deal between the 2 parties the seller now gets to close and move on to other properties and a family gets to move into their first home! A true win win!

This is a very special deal and we do still have a ways to go until this deal closes, but when it closes I will have made Dreams come true even without the "Dream for all" program and that feels amazing! 

Courtney Ayers | 925-818-9649 | Dre #02121181| Breaking Ground Real Estate

 Ride of a Lifetime

                            April 1, 2023

It's up, it's down, it's up again. It can be thrilling and cause butterflies in your stomach. It can give you the best day of your life or send you away in tears. It can be unpredictable and scary. To some, it's down right terrifying. Hold on to your hats I'm talking about the constant roller coaster ride of the ever changing Real Estate market!

 True to form the last few months have been a wild ride. Rates have been fluctuating and the media has been hyping up fear. Despite this the Market picked up in February and March. All over the Bay Area buyers were out and competing! Here in Martinez many houses were on the market for a mere week before going pending with anywhere from 4 -15 offers. 

So what gives? Savvy buyers are entering the marketplace. With rising rents to consider,  loan incentives like 2-1 Buy Downs that allow you to buy down your interest rate for the next 2 years, "DREAM for all," a new first time home buyer program that offers qualified buyers up to 20% down on a home with some shared equity (mind-blowing) and one of my favorite programs- where if rates fall a certain lender will refinance you at no cost! That's huge! It gives buyers the opportunity to purchase a home now while home prices are lower and refinance at a lower rate when it becomes available! Giving buyers the best of it all. 

 It's not just buyers benefiting though. We are still in a housing crisis. Inventory is and has been at historic lows. As I write this there are 29 homes on the market in Martinez. That's it. 29 homes including condos, townhouses, detached homes and estates! So any seller has a clear advantage of having little competition. 

 Rising rent, low inventory, changing rates, and amazing loan options are all factors in the wild Real Estate market right now. Whether thrilled or scared it's a ride and for many it's the ride of a lifetime. Having the right agent to help you navigate this wild ride is tantamount to a successful real estate transaction. If you or anyone you know is looking now or in the future I'm here to help! Call/text 925-818-9649. 

Courtney Ayers | 925-818-9649 | Dre #02121181| Breaking Ground Real Estate

The Feds, Rising Rates and How it Benefits you!                                                                                                             July 28, 2022

So the Feds raised the rates again. I know you’ve heard about it by now. How could you not? It’s all over the news and social media. The impending doom of the 4th rate hike this year, gasp! Here's the thing, it’s really not so bad in fact it’s good! Sound crazy?  Not if you look at rates today compared to years past. As of Thursday July 28, 2022 rates are around 5.78% (depending on various factors). In the 70’s 7% was on the low side. In the 80’s the average was around 16% with a peak of over 18%! In the 2000’s  5% was low. Jump to 2020/2021 and we see shockingly low rates in mid to high 2% & 3%

As you see, over the last 50 years an interest rate of +/- 5.78% has been a low rate during most periods. The reality is the 3% lows we’ve had over the last year were bananas! They were not meant to be long term and were not sustainable. They did what they were meant to do,  stimulate buyer demand for mortgages! They may have done it a little to well….  

When the Fed began lowering rates at the beginning of the pandemic it triggered demand. When they further lowered rates demand skyrocketed. This high demand came at a time of 30 year low inventory, so house prices shot up. The Fed in their effort to boost the market, supercharged it. The rates coming up has caused people to calm down, and it's wonderful. Instead of a house sitting for a matter of days, getting dozens of over-ask offers, contingencies waived, houses are now staying on market longer, many have price reductions, and buyers aren't waving goodbye to their due diligence. This is becoming a  more normal and sustainable market with still low rates. But wait, what about the crash everyones talking about?

I hear this on the news everyday now, it drives me crazy! It’s as though it’s trying to be willed into existence. We are in a much different market than we were during the last crash. Lending institutions have been stringent in how they lend money and we are in the middle of a housing crisis. The amount of people, even now, who want and or need to buy outweighs the inventory. So while no one can predict what the market will do, these 2 indicators alone show the resilience of the market against a crash. This doesn’t mean prices wont come down because they already are! It does mean that we likely aren't going to see 1m homes selling for 500k. It should prevent home prices from climbing even higher and becoming even more unaffordable. Especially as The Fed is set to have 3 more meetings this year. They are anticipated to raise the interest rates each time. With 3 more hikes predicted we could end up at 6.5% by years end.  

This current market of spoked buyers and  lower interest rates present great benefits to anyone looking! LOCK YOUR RATES!! Interest rates are still low, we are heading into the statistically cheaper fall/winter markets, with an increasing number of homes on the market and interest rates are predicted to go up. All of this makes this a great moment to secure your rate and find your home! 

Courtney Ayers

License DRE #02121181

Breaking Ground Real Estate

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