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2018 UAM Financial Round Table

We recently had the great honor of attending the 17th annual-United American Mortgage Financial Round Table-on October 10,2018 down in Costa Mesa, CA. Hosted by Ted Learkos and his team of Jessica McClure, German Santibanez, and many more-attended by every Real Estate office from Realty Pro 100 to First Team to Keller Williams. The afternoon started after lunch sponsored by Katella Grill to the guest speaker, Steven Thomas of Reports on Housing. 

In his speaking appearance, Steven Thomas gave us his first "Orange County Housing & 2019 Forecast". To discuss 2019, we must first discuss the 2018 Forecast: 
-Low distressed inventory
-Return of unrealistic over priced seller
-Normal Cycle
-Rise in Inventory

In which, he was mostly correct. 

For the 2019 forecast; we have a record number of houses on the market,there is more inventory than demand with a steep drop as we head into the holidays. So what is this market then? It is a Balanced Market, with an average 105 Days on Market in Orange County and average 100 Days on Market in Southern California. 

So what if you are a Buyer in this market? Well, some of you wanted to wait- and this is the price of waiting. You are paying more now if you purchased your home versus if you had done it earlier in the year when interest rates are lower. What if you are a Seller in this market? We wanted more houses on the market before we sold to choose from, you know one of the ones from HGTV, and now that all the houses are here...no one is pulling the trigger. People are moving once every 20 years now, looking or making their home their "Forever Home". 

So what to say to sum this up...."Shift Happens!". What is on the horizon for 2019 Forecast: 
Uncertainty
Buyers - Fence Sitting
Interest Rates
Affordable Pricing Pressure
New Tax Law
Unrealistic Sellers
Normal Cycle-with Muted Activity

Steven Thomas offers monthly reports delivered to your email for $15/month or $150/year and you can sign up for them on: reportsonhousing.com . We unfortunately had to cut our time there short and head towards another destination for a business appointment, but I would highly recommend making sure you attend the United American Mortgage Financial Round Table in October of 2019! 

Thank You to United American Mortgage and Steven Thomas! 

Yorba Linda, CA-TRREG DRE#01843673-RP100 DRE#02059058-P:714-831-1800-E:info@theresultsrealestategroup.com-W:www.theresultsrealestategroup.com-Facebook - Twitter - Instagram - LinkedIn

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Location: Costa Mesa, CA, USA

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