• Menu
    805-419-0781
    mary@addingtonrealtygroup.com
  • Please Setup your Menus

Addington Realty Group | eXp RealtyAddington Realty Group | eXp Realty

Bringing You Home, Throughout California and Arizona

  • Home
  • Buyers
    • Featured Homes
    • 8 Steps to Buying
    • All About Location
    • Home Buying Tips
  • Sellers
    • 8 Steps to Selling
    • Good Seller’s Etiquette
    • Sell and Make a Profit
    • Staging Tips
  • Communities
    • Oxnard / Port Hueneme
    • Simi Valley / Moorpark
    • Temecula
    • Murrieta
    • Wildomar
    • Newbury Park / Thousand Oaks
    • Oak View / Ventura
    • Camarillo
  • About Us
    • Client Testimonials
    • Submit a Testimonial
  • Blog
  • Featured Homes

The Perks Of Downsizing When You Retire in Prescott Valley, Arizona [INFOGRAPHIC]

The Perks of Downsizing When You Retire [INFOGRAPHIC]

a screenshot of a cellphone

Some Highlights

  • If you’re about to retire, or just did, downsizing can be a good way to try to cut down on some of your expenses.
  • Smaller homes typically have lower energy and maintenance costs. Plus, you may have enough equity built up to fuel your move.
  • If you’re thinking about moving to a smaller home, let’s go over your goals and look at your options in our local market.

Posted in: Infographics, Seller Tips Tagged: Addington Realty Group, Arizona, Best Time to Sell, Build Equity, California, Camarillo, Downsizing, Good Time to Sell, Great Time to Sell, Hedge Against Inflation, Home Affordability, home prices, home selling, Homebuyer, Homebuyers, Homebuying, Homeownership, housing market, Housing Market Update, Housing Market Updates, Interest Rates, List Your House, Oxnard, Phoenix, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Agent, Real Estate Broker, Real Estate Expert, Real Estate Market, Realtor, reasons to sell, Rent vs Buy, Retirement, Retirement Living, Right Price, Save Money, Scottsdale, Sell Your House, Sellers Market, Selling Myths, Selling Potential, Selling Your House, Simi Valley, Sweet Spot for Sellers, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

Why Overpricing Your House Can Cost You in Simi Valley, California.

Why Overpricing Your House Can Cost You

If you’re trying to sell your house, you may be looking at this spring season as the sweet spot – and you’re not wrong. We’re still in a seller’s market because there are so few homes for sale right now. And historically, this is the time of year when more buyers move, and competition ticks up. That makes this an exciting time to put up that for sale sign.

But while conditions are great for sellers like you, you’ll still want to be strategic when it comes time to set your asking price. That’s because pricing your house too high may actually cost you in the long run.

The Downside of Overpricing Your House

The asking price for your house sends a message to potential buyers. From the moment they see your listing, the price and the photos are what’s going to make the biggest first impression. And, if it’s priced too high, you may turn people away. As an article from U.S. News Real Estate says:

“Even in a hot market where there are more buyers than houses available for sale, buyers aren’t going to pay attention to a home with an inflated asking price.”

That’s because no homebuyer wants to pay more than they have to, especially not today. Many are already feeling the pinch on their budget due to ongoing home price appreciation and today’s mortgage rates. And if they think your house is overpriced, they may write it off without even stepping foot in the front door, or simply won’t make an offer if they think it’s priced too high.

If that happens, it’s going to take longer to sell. And ideally you don’t want to have to think about doing a price drop to try to re-ignite interest in your house. Why? Some buyers will see the price cut as a red flag and wonder why the price was reduced, or they’ll think something is wrong with the house the longer it sits. As an article from Forbes explains:

“It’s not only the price of an overpriced home that turns buyers off. There’s also another negative component that kicks in. . . . if your listing just sits there and accumulates days on the market, it will not be a good look. . . . buyers won’t necessarily ask anyone what’s wrong with the home. They’ll just assume that something is indeed wrong, and will skip over the property and view more recent listings.”

Your Agent’s Role in Setting the Right Price

Instead, pricing it at or just below current market value from the start is a much better strategy. So how do you find that ideal asking price? You lean on the pros. Only an agent has the expertise needed to research and figure out the current market value for your home.

They’ll factor in the condition of your house, any upgrades you’ve made, and what other houses like yours are selling for in your area. And they’ll use all of that information to find that target number. The right price will bring in more buyers and make it more likely you’ll see multiple offers too. Plus, when homes are priced right, they still tend to sell quickly.

Bottom Line

Even though you want to bring in top dollar when you sell, setting the asking price too high may deter buyers and slow down the sales process.

Let’s connect to find the right price for your house, so we can maximize your profit and still draw in eager buyers willing to make competitive offers.

Posted in: Seller Tips Tagged: Addington Realty Group, Arizona, Best Time to Sell, Build Equity, California, Camarillo, Good Time to Sell, home prices, home selling, housing market, Housing Market Update, Housing Market Updates, List Your House, Oxnard, Phoenix, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Broker, Real Estate Expert, Real Estate Market, Realtor, reasons to sell, Scottsdale, Sell Your House, Sellers Market, Selling Myths, Selling Point, Selling Potential, Selling Your House, Simi Valley, Sweet Spot for Sellers, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

The Best Week To List Your House Is Almost Here in Oxnard, California

The Best Week To List Your House Is Almost Here

Are you thinking about making a move? If so, now may be the perfect time to start the process. That’s because experts say the best week to list your house is just around the corner.

A recent Realtor.com study looked at housing market trends over the past several years (with the exception of 2020, since it was an unusual year), and found the best week to put your house on the market this year is April 14-20:

“Every year, one week stands out from the rest as that perfect stretch of time when it’s great to be a home seller. This year, the week of April 14–20 is the best time to sell—that is, if sellers want to see lots of interest in their homes, sell quickly, and pocket some extra cash, according to Realtor.com® data.”

Here’s why this matters for you. While the spring market is a great time to sell no matter the week, this may be the peak sweet spot. And if you’ve been putting your plans on the back burner and waiting for the right time to act, this could be the nudge you need to make your move happen. As Hannah Jones, Senior Economic Research Analyst at Realtor.com explains:

“The third week of April brings the best combination of housing market factors for sellers. The best week offers higher buyer demand, lower competition [from other sellers], and fewer price reductions than the typical week of the year.”

But, if you want to get in on the action, you’ll need to move quickly and lean on the pros. Your local real estate agent is the perfect go-to when it comes to figuring out a plan to prep your house and get it on the market.

They’ll be able to offer advice to balance your target listing date with what you need to do from a repair and renovation standpoint. And they can walk you through exactly how to prioritize your list so you know what to tackle first.

For example, if your house is already in good shape, you’ll be able to really focus in on the smaller things that are easy to do and make a big impact. As an article from Investopedia says:

“You won’t have time for any major renovations, so focus on quick repairs to address things that could deter potential buyers.”

Here are some specific examples from that article:

 a blue and white sign with text

Just remember, even if you’re not ready to list within the next couple of weeks, that’s okay. The window of opportunity doesn’t close when this week ends. Spring is the peak homebuying season and it’s still a seller’s market, so you’ll be in the driver’s seat all season long.

Bottom Line

Ready to get the ball rolling? Let’s connect and schedule a time to go over your next steps.

Posted in: Seller Tips Tagged: Addington Realty Group, Arizona, Best Time to Sell, Build Equity, California, Camarillo, Good Time to Sell, Great Time to Sell, home prices, home selling, housing market, Housing Market Update, Housing Market Updates, Inflation, List Your House, Oxnard, Phoenix, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Expert, Real Estate Market, Realtor, reasons to sell, Right Price, Scottsdale, Sell Your House, Sellers Market, Selling Myths, Selling Potential, Selling Your House, Simi Valley, Sweet Spot for Sellers, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

Outdoor Projects Can Boost Curb Appeal When You Sell in Scottsdale, Arizona. [INFOGRAPHIC]

Outdoor Projects Can Boost Curb Appeal When You Sell [INFOGRAPHIC]

a comparison of a bird house and a garden

Some Highlights

  • In real estate, a good first impression is key. If the outside of a house looks welcoming, more people will want to come in and see it.
  • Your agent helps you by giving advice on what you may want to prioritize, finding easy fixes that make a big difference, knowing what buyers in your area like, and showing off your updates in your listing.
  • Let’s connect so you have expert advice on what’ll have the biggest impact in our area.

Posted in: Infographics, Seller Tips Tagged: Addington Realty Group, Arizona, Best Time to Sell, Boost Curb Appeal, Build Equity, California, Camarillo, Good Time to Sell, Great Time to Sell, Hedge Against Inflation, home prices, housing market, Housing Market Update, Housing Market Updates, Infographics, List Your House, Make the Move, Making A Move, market trends, Oxnard, Phoenix, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Broker, Real Estate Expert, Real Estate Market, Realtor, reasons to sell, Right Price, Scottsdale, Sell Your House, Sellers Market, Selling Myths, Selling Potential, Selling Your House, Simi Valley, Sweet Spot for Sellers, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

Is It Easier To Find A Home To Buy Now in Phoenix, Arizona?

Is It Easier To Find a Home To Buy Now?

One of the biggest hurdles buyers have faced over the past few years has been a lack of homes available for sale. But that’s starting to change.

The graph below uses the latest data from Realtor.com to show there are more homes on the market in 2024 than there have been in any of the past several years (2021-2023):

a graph of a number of homes for sale

Does That Mean Finding a Home Is Easier?

The answer is yes, and no. As an article from Realtor.com says:

“There were nearly 15% more homes for sale in February than a year earlier . . . That alone could jolt the housing market a bit if more “For Sale” signs continue to appear. However, the nation is still suffering from a housing shortage even with all of that new inventory.”

Context is important. On the one hand, inventory is up over the past few years. That means you’ll likely have more options to choose from as you search for your next home.

But, at the same time, the graph above also shows there are still significantly fewer homes for sale than there would usually be in a more normal, pre-pandemic market. And that deficit isn’t going to be reversed overnight.

What Does This Mean for You?

You might find a few more choices now than in recent years, but you shouldn’t expect a ton of options.

To help you explore the growing list of choices you have now, team up with a local real estate agent you trust. They can really help you understand the inventory situation where you want to buy. That’s because real estate is local. An experienced agent can share some smart tips they’ve used to help other buyers in your area deal with ongoing low housing supply.

Bottom Line

If you’re thinking about buying a home, let’s team up. That way, you’ll be up to date on everything that could affect your move, including how many homes are for sale right now.

Posted in: Buyer Tips Tagged: Addington Realty Group, Arizona, Build Equity, buy, Buy a Home, Buyer Access, Buyers, buying myths, California, Camarillo, First Step to Buying, First Time Home Buyers, Good Time to Buy, Hedge Against Inflation, Home Affordability, home prices, Homebuyer, Homebuyers, Homebuying, Homeownership, housing market, Housing Market Update, Housing Market Updates, Inflation, market trends, Move-Up Buyers, Move-Up Home Buyers, Oxnard, Phoenix, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Broker, Real Estate Expert, Real Estate Market, Realtor, Rent vs Buy, Right Price, Scottsdale, Simi Valley, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

What’s The Latest With Mortgage Rates in Prescott Valley, Arizona?

What’s the Latest with Mortgage Rates?

Recent headlines may leave you wondering what’s next for mortgage rates. Maybe you’d previously heard there were going to be cuts this year that would bring rates down. That refers to the Federal Reserve (the Fed) and what they do to their Fed Funds Rate. While cutting, or lowering, the Fed Funds Rate doesn’t directly determine mortgage rates, it does tend to impact them. But when the Fed met last week, a cut didn’t happen — at least, not yet.

There are a lot of factors the Fed considered in their recent decision and most of them are complex. But you don’t need to be bogged down by those finer details. What you really want is the answer to this question: does that mean mortgage rates aren’t going to fall? Here’s what you need to know. 

Mortgage Rates Are Still Expected To Drop This Year

While it hasn’t happened yet, that doesn’t mean it won’t. Even Jerome Powell, the Chairman of the Fed, says they still plan to make cuts this year, assuming inflation cools:

“We believe that our policy rate is likely at its peak for this tightening cycle and that, if the economy evolves broadly as expected, it will likely be appropriate to begin dialing back policy restraint at some point this year.”

When this happens, history shows mortgage rates will likely follow. That means hope isn’t lost. As a recent article from Business Insider explains:

“As inflation comes down and the Fed is able to start lowering rates, mortgage rates should go down, too. . .”

What This Means for You

But you don’t necessarily want to wait for it to happen. Mortgage rates are notoriously hard to forecast. There are so many factors at play and any one of those can change the projections as the economy shifts. And it’s why the experts offer this advice. As Mark Fleming, Chief Economist at First American, says:

“Well, mortgage rate projections are just that, projections, not promises and don’t forget how hard it is to forecast them. . . So my advice is to never try to time the market . . . If one is financially prepared and buying a home aligns with your lifestyle goals, then it could be the right time to purchase. And there’s always the refinance option if mortgage rates are lower in the future.”

Basically, if you’re looking to move and trying to time the market, don’t. If you’re ready, willing, and able to move, it may still be worth it to do it now, especially if you can find the home you’ve been searching for.

Bottom Line

If you’re looking to buy a home, let’s connect so you have someone keeping you up-to-date on mortgage rates and helping you make the best decision possible.

Posted in: Mortgage Rates and Updates Tagged: Addington Realty Group, Arizona, Build Equity, California, Camarillo, Hedge Against Inflation, Home Affordability, home prices, Homeownership, Housing Market Update, Housing Market Updates, Inflation, Interest Rates, market trends, mortgage, Mortgage rate, mortgage rates, Mortgage Trends, Oxnard, Phoenix, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Broker, Real Estate Expert, Realtor, Scottsdale, Simi Valley, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

What Every Homebuyer Should Know About Closing Costs in Camarillo, California.

What Every Homebuyer Should Know About Closing Costs

Before making the decision to buy a home, it’s important to plan for all the costs you’ll be responsible for. While you’re busy saving for the down payment, don’t forget you’ll want to prep for closing costs too.

Here’s some helpful information on what those costs are and how much you should budget for them.

What Are Closing Costs?

A recent article from Bankrate explains:

“Closing costs are the fees and expenses you must pay before becoming the legal owner of a house, condo or townhome . . . Closing costs vary depending on the purchase price of the home and how it’s being financed . . .”

Simply put, your closing costs are the additional fees and payments you have to make at closing. According to Freddie Mac, while they can vary by location and situation, closing costs typically include:

  • Government recording costs
  • Appraisal fees
  • Credit report fees
  • Lender origination fees
  • Title services
  • Tax service fees
  • Survey fees
  • Attorney fees
  • Underwriting Fees

How Much Are Closing Costs?

According to the same Freddie Mac article mentioned above, they’re typically between 2% and 5% of the total purchase price of your home. With that in mind, here’s how you can get an idea of what you’ll need to budget.

Let’s say you find a home you want to purchase at today’s median price of $384,500. Based on the 2-5% Freddie Mac estimate, your closing fees could be between roughly $7,690 and $19,225.

But keep in mind, if you’re in the market for a home above or below this price range, your closing costs will be higher or lower.

Make Sure You’re Prepared To Close

Freddie Mac provides great advice for homebuyers, saying:

“As you start your homebuying journey, take the time to get a sense of all costs involved – from your down payment to closing costs.”

The best way to do that is by partnering with a team of trusted real estate professionals. That gives you a group of experts to help you understand how much you’ll need to save and what you’ll want to be prepped for. It also means you have go-to resources for any questions that pop up along the way.

Bottom Line

Planning for the fees and payments you’ll need to cover when you’re closing on your home is important. Partnering with a local real estate professional can give you the guidance and confidence you need throughout the process.

Posted in: Buyer Tips Tagged: Addington Realty Group, Arizona, Build Equity, buy, Buy a Home, Buyer Access, Buyers, buying myths, California, Camarillo, Closing Costs, First Step to Buying, First Time Home Buyers, Good Time to Buy, Hedge Against Inflation, Home Affordability, home prices, Homebuyer, Homebuyers, Homebuying, housing market, Move-Up Home Buyers, Oxnard, Phoenix, Prescott, Prescott Valley, Price Appreciation, Pricing, Real Estate, Real Estate Broker, Real Estate Expert, Real Estate Market, Rent vs Buy, Right Price, Scottsdale, Simi Valley, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

3 Helpful Tips for First-Time Homebuyers in Oxnard, California [INFOGRAPHIC]

3 Helpful Tips for First-Time Homebuyers [INFOGRAPHIC]

a man sitting at a desk using a laptop

Some Highlights

  • Trying to buy your first home? If you’re worried about affordability today or the limited number of homes for sale, these tips can help.
  • Look into homebuyer programs, expand your search area, and consider a multi-generational home.
  • Let’s connect so you have an expert on your side to help you make your dream a reality.

Posted in: Buyer Tips Tagged: Addington Realty Group, Arizona, Build Equity, Buy a Home, Buyer Access, buying myths, California, Camarillo, Downsizing, First Step to Buying, First Time Home Buyers, Good Time to Buy, Hedge Against Inflation, Home Affordability, home prices, Homebuyer, Homebuyers, Homebuying, Homeownership, housing market, Move-Up Buyers, Move-Up Home Buyers, Oxnard, Phoenix, Preapproval, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Expert, Realtor, Rent vs Buy, Right Price, Scottsdale, Simi Valley, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

Does It Make Sense To Buy A Home Right Now in Simi Valley, California?

 

Does It Make Sense To Buy a Home Right Now?


 

Thinking about buying a home? If so, you’re probably wondering: should I buy now or wait? Nobody can make that decision for you, but here’s some information that can help you decide.

What’s Next for Home Prices?

Each quarter, Fannie Mae and Pulsenomics publish the results of the Home Price Expectations Survey (HPES). It asks more than 100 experts—economists, real estate professionals, and investment and market strategists—what they think will happen with home prices.

In the latest survey, those experts say home prices are going to keep going up for the next five years (see graph below):

a graph of green bars

Here’s what all the green on this chart should tell you. They’re not expecting any price declines. Instead, they’re saying we’ll see a 3-4% rise each year.

And even though home prices aren’t expected to climb by as much in 2025 as they are 2024, keep in mind these increases can really add up over time. It works like this. If these experts are right and your home’s value goes up by 3.78% this year, it’s set to grow another 3.36% next year. And another 3.87% the year after that.

What Does This Mean for You?

Knowing that prices are forecasted to keep going up should make you feel good about buying a home. That’s because it means your home is an asset that’s projected to grow in value in the years ahead.

If you’re not convinced yet, maybe these numbers will get your attention. They show how a typical home’s value could change over the next few years using expert projections from the HPES. Check out the graph below:

a graph of growth in a chart

In this example, imagine you bought a home for $400,000 at the start of this year. Based on these projections, you could end up gaining over $83,000 in household wealth over the next five years as your home grows in value.

Of course, you could also wait – but if you do, buying a home is just going to end up costing you more.

Bottom Line

If you’re thinking it’s time to get your own place, and you’re ready and able to do so, buying now might make sense. Your home is expected to keep getting more valuable as prices go up. Let’s team up to start looking for your next home today.

Posted in: Buyer Tips Tagged: Addington Realty Group, Arizona, Build Equity, Buy a Home, buying myths, California, Camarillo, First Step to Buying, First Time Home Buyers, Good Time to Buy, Hedge Against Inflation, Home Affordability, Home Equity, home prices, Homebuyer, Homebuyers, Homebuying, housing market, Inflation, market trends, Median Home Prices, Move-Up Buyers, Price Appreciation, Pricing, Purchase Price, Real Estate, Real Estate Broker, Real Estate Expert, Real Estate Market, Realtor, Rent vs Buy, Right Price, Scottsdale, Simi Valley, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

Why Today’s Seller’s Market Is Good for Your Bottom Line in Prescott Valley, Arizona.

Why Today’s Seller’s Market Is Good for Your Bottom Line

Thinking about selling your house and wondering if now’s a good time to do it? Here’s what you need to know. Even though the number of homes for sale has been growing this year, there still aren’t enough homes on the market for all the buyers who want to buy.

So, what does that mean for you? To keep it simple, it means it’s still a seller’s market. Here’s how it works:

  • A neutral market is when supply and demand is balanced. Basically, there are enough homes to meet buyer demand based on the current sales pace, and home prices hold fairly steady.
  • A buyer’s market is when there are more homes for sale than there are buyers. When that happens, buyers have more negotiation power because sellers are willing to make compromises to close the deal. In a buyer’s market, sellers may have to do price cuts to re-ignite interest in their home, and prices may go down. But we haven’t seen this for years since there are so few homes available to buy.
  • In a seller’s market, it’s just the opposite. When the supply of homes for sale is as low as it is right now, it’s much harder for buyers to find homes to purchase. That creates increased competition among purchasers which can lead to more bidding wars. And if buyers know they may be entering a bidding war, they’re going to do their best to submit a very attractive offer upfront. This could drive the final sale price of your house up.

The graph below uses data from the National Association of Realtors to show just how deep into seller’s market territory we still are today:

a screenshot of a chart

What Does This Mean for You?

The market is still working in your favor. If you lean on an agent for advice on how to get your house list ready and how to price it competitively, it should get a lot of attention from eager buyers. That means you’ll likely get multiple offers and see your house sell quickly and for top dollar. As a recent article from Ramsey Solutions explains:

“A seller’s market is when demand for homes is higher than the supply of homes. And that’s still the case right now. If you’re planning to sell your house, you can expect to sell it fairly quickly for close to your asking price—as long as your asking price is realistic for the current market.”

Bottom Line

Today’s housing market still favors sellers. If you’re ready to sell your house, let’s connect so you can start making your moves.

Posted in: Seller Tips Tagged: Addington Realty Group, Arizona, Best Time to Sell, Build Equity, California, Camarillo, Good Time to Sell, Great Time to Sell, housing market, List Your House, market trends, Oxnard, Phoenix, Prescott, Prescott Valley, Pricing, Real Estate, Real Estate Broker, Real Estate Expert, Real Estate Market, Realtor, reasons to sell, Right Time To Sell, Scottsdale, Sell Your House, Sellers Market, Selling Myths, Selling Potential, Selling Your House, Simi Valley, Things Realtors See, Thousand Oaks, Trusted Realtor, Ventura, Wealth Building

Posts navigation

  • « Previous Page
  • 1
  • …
  • 14
  • 15
  • 16
  • 17
  • 18
  • …
  • 24
  • Next Page »

Resources

  • Sellers
  • Buyers
  • Blog

Featured Communities

  • Temecula
  • Murrieta
  • Wildomar
  • Newbury Park / Thousand Oaks
  • Oak View / Ventura
  • Camarillo
  • Oxnard / Port Hueneme
  • Simi Valley / Moorpark

Search Tools

 

Serving Southern California & Arizona
Mary Tan Addington CA DRE: 01918535|AZ DRE: BR700334000
Raymond Addington CA DRE: 01976687|AZ DRE: SA700523000
EXP Realty is an Equal Opportunity Employer and supports the Fair Housing Act

Addington Realty Group
Serving California & Arizona

805-419-0781