Hope Leitner, Realtor®, CRS

  Now that it’s September, all eyes are on the  Federal Reserve  (the Fed). The overwhelming expectation is that they’ll cut the Federal Funds Rate at their upcoming meeting, driven primarily by recent signs that  inflation is cooling , and the job market is  slowing down . Mark Zandi, Chief Economist at  Moody’s Analytics ,  said : “They’re ready to cut, just as long as we don’t get an inflation surprise between now and September, which we won’t.” But what does this mean for the housing market, and more importantly, for you as a potential homebuyer or  seller ? Why a Federal Funds Rate Cut Matters The Federal Funds Rate is one of the key factors that influences  mortgage rates  – things like the economy, geopolitical uncertainty, and more also have an impact. When the Fed cuts the Federal Funds Rate, it signals what’s happening in the broader economy, and mortgage rates tend to respond. While a single rate cut might not lead to a dramatic drop in mortgage rates, it could contribute to

There are a number of   reasons   you may be thinking about   selling   your house. And as you weigh your options, you may find you’re unsure how you’re going to deal with one thing about today’s   housing market   – and that’s   affordability . If that’s your biggest concern, understanding how much equity you have in your house could help make your   decision   that much easier. Here are two key factors that have a big impact on your equity. How Long You’ve Been in Your Home First up is homeowner tenure. That’s how long homeowners live in a house, on average, before  selling  or choosing to move. From 1985 to 2009, the average length of time homeowners stayed put was roughly six years.  But  according  to the  National Association of Realtors  (NAR), that number has been climbing. Now, the average tenure is 10 years ( see graph below ): Here’s why that’s such a big deal. You gain  equity  as you pay down your home loan and as home prices climb. And when you combine all of your mortgag

Over 3,000 homes on the market - and we're still seeing the average cost of a home hovering around $1.2 million! It feels a little crazy - but there are willing and able buyers out there! Prices will decline slightly due to a seasonal drop in demand - but, over the next few years I believe home values will continue to hold steady.  Below you'll find the housing report for the current month along with data from the preceding months. San Diego County continues to have with an inventory shortage, even with lots of new construction. The average cost of a home has risen, but that doesn't mean there aren't still some affordable properties out there.  Whether you're contemplating a purchase or sale, I invite you to reach out. Let's discuss your options within the dynamics of our distinctive housing market, ensuring your decisions align with the current trends and realities.   Hope Opens Doors

Can you believe Labor Day is just around the corner? Kids are already back in School! This summer just zoomed by! But, it's not too late to squeeze some sunshine, heat and time outdoors from the steadily shortening days.  I don't know about you, but I feel the sunlight starts to take on that hazy golden glow this time of year - I LOVE the hot pink sunsets over the Pacific these days!   Below are so many great events and activities to help maximize the end of summer. Enjoy!    September - Ponder this -   “Happily we bask in this warm September sun, which illuminates all creatures.” — Henry David Thoreau   I am here for you, your family, and your friends. Whether you own a home or you are looking to buy or sell one, I'm here to help.   If you know anyone who might be interested in receiving this event calendar every month, please have them sign up at this  link.   Your Forever Agent,    Hope Leitner, CRS, CalDRE #01874321  

    August 2024 Colleen,                       In case you haven’t heard — changes are coming! Did you know that starting August 17th a realtor can no longer show you a property without a signed written agreement? It can be exclusive or non-exclusive but it MUST be signed. This means they can’t even unlock the door without it. Doing so as an agent can result in thousands of dollars in fines.  A buyer's agency agreement legally binds you to that particular agent for an agreed-upon timeframe, spells out their compensation, and details their duties to you.  There is no such thing as a "free service" for using a buyer's agent. Hiring an agent that has many years of experience and continually stays up to date to benefit you, the client, matters more than ever before. Sellers always interview agents, and now so will buyers. Not all buyer’s agents will be offering the same value. Yes, sellers can still pay a buyer’s agent’s compensation (and I expect that will still happen o