Market Reports

Found 29 blog entries about Market Reports.



A Sincere Message of Gratitude


As we reflect on 2018 and look forward to the new year, all of us at Echelberger Groupare filled with gratitude. 
We are grateful that you have placed your trust in us and shared your experience with others. And we are thankful to have become a small part of your lives as you welcomed new family members, celebrated engagements and embarked upon fresh and exciting phases in life.

We are equally grateful for our homes, families, and friends. So many have lost theirs during the wildfires in Northern and Southern California. It is often easy to take what and who we have in our lives for granted. But as the fires have demonstrated, it can all go away in a flash.

“This holiday season, I want to extend an extra-special thank you to…
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The housing market slowed to levels not seen in nearly eight years, lining up in favor of buyers



Buyer’s Market: With an Expected Market Time of 122 days, the market transitioned into Buyer’s Market territory for the first time since January 2011.

Thanksgiving is just about here. Time to load our plates with turkey, ham, cranberry sauce, stuffing, mashed potatoes, sweet potatoes, string beans, Brussels sprouts, and dinner rolls. As Americans, we eat more on Thanksgiving than any other day of the year. It is all about a
smorgasbord of choices. And that’s exactly how it's shaping up for buyers in today’s housing market, a smorgasbord of choices.

ORANGE COUNTY HOUSING MARKET SUMMARY:

  • The active listing inventory decreased by 13 homes in the past
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Buyers’ expectations in the ideal home have evolved, so sellers need to price accordingly.

Carefully Pricing: Sellers must price according to their location, condition, upgrades, updates, décor, and overall appeal. Prior to this year, there was not a lot of thought that went into pricing a home. Since 2012, sellers stretched their asking prices and home values soared. It seemed that every time a home sold, it was a new record for the neighborhood. New sellers would come on the market, take a look at the comparable sales, add a little bit more, and then they sifted through multiple offers. They often settled for purchase prices above their asking prices. Sellers were in control as buyers tripped over each other to secure their piece of the…
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IN TODAY’S MARKET, PRESENTATION MATTERS

the GREEN sheet | November 2018
I was having a conversation with a client that handles high end luxury car sales and we were talking about the similarities between his business and mine. He was explaining that buyers are limited for luxury used cars and he may only have one or two opportunities to sell the car in the first thirty-to- sixty days. If it does not sell, then it goes to auction and his opportunity and profit is gone. He said that he must make sure that the presentation of the car is the absolute best at any given time when it is on the lot because he never knows when that buyer opportunity may come. It seems so basic and logical yet it is something that is passed over and forgotten in the real estate industry.


If you have been
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The momentum of the housing market has paved the way for cooler Autumn and Holiday Markets.


No End of Year Surge: There will not be a sudden surge in closed sales for the remainder of the year. It is that time of the year. The days are growing shorter, the leaves are changing, and Halloween decorations have emerged. Autumn has arrived. Just as the seasons change, so does the housing market. The Spring and Summer Markets are officially in the rearview mirror. There’s very little of 2018 that remains.


Orange County Housing Market Summary:

  • The active listing inventory decreased by 6 homes in the past two weeks, almost identical, and now totals 7,201. The inventory finally reached a peak for 2018. Normally it peaks between July and August.
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FEELING THE SEASONAL MARKET SLOWDOWN? ECHELBERGER GROUP HAS A WAY AROUND IT

Fall is in the air and the heat of summer is subsiding, but the days and nights of autumn aren’t the only thing cooling down. As happens nearly every year, the approach of the holiday season brings a slowdown in the real estate market. The number of active listings will start to shrink and home sales will begin to ease up. This is a common occurrence for a variety of reasons: Some homeowners do not like to be on the market during the holidays; others need reset their Days on Market in the Multiple Listing Service (requiring a 90-day break from appearing on the MLS), and some simply just need a break.

So what about those who still want to sell their home during the fourth…
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More Cracks Appearing: New cracks in the housing market are demonstrating that the cooling trend is here to stay.

There’s a strange phenomenon that takes place on long road trips. After zooming along at 75 miles per hour for several hours, and then getting off the freeway to grab something to eat, the 45 miles per hour speed limit on Main Street feels incredibly slow. Why does it feel so slow? Quite simply, you got used to the high speed, zooming along nonstop for a long period of time.

Similarly, the housing market has been zooming along at a high speed for years; that is, until last spring. That’s when cracks in the Orange County housing market began to emerge. In the last couple of months, more cracks have appeared. The market is still moving,…
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Sellers are learning a lesson about patience: just because your pole is in the water, does not mean you will immediately reel in a fish.

A Much Slower Market: With an Expected Market Time of 98 days for all of Orange County, sellers really need to pack their patience.

Sitting on the edge of a lake fishing, time stops. Sometimes the fishing is great and the bucket is filled with fish. There are days when after fishing for hours, only one is reeled onto the dock. But, there are days, after trying every kind of bait, fishing produces absolutely nothing. A big part of fishing is all about using the bait that is working and being extremely patient.

Today’s sellers remind me of a kid that goes fishing for the very first time. After five minutes with their…
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Sellers are not used to waiting, but it is a trend that has evolved this year and is here to stay.

Sitting on the Market: A surprising 37% of the active listing inventory has been on the market for more than two months. For years, sellers have been in control of the housing market. Multiple offers were generated almost instantaneously after hammering in the FOR SALE sign. Homes flew off the market in the blink of an eye. Frustrated buyers had to cut back their expectations after writing offer after offer with no success. It felt like housing was unstoppable and would continue its relentless climb. That is until the spring of 2018.

This year has been all about the evolution of housing from a brisk paced, hot, Seller’s Market to a much more normal,
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IS IT A DEMAND PROBLEM? ECHELBERGER GROUP HAS SOME ANSWERS

While still remarkably strong, Orange County’s housing market is experiencing a dip in demand. We asked our market guru, Steven Thomas, for some answers. Steven provides our monthly Orange County Housing Report and informed us that demand was 20% higher last year and 23% higher two years ago at this time. Here’s what Steven has to say:

For years now, it’s been a fact that there have not been enough homes on the market. The storyline has been the same year in and year out—with only a trickle of homes coming on the market, buyers have been tripping over themselves to purchase them. Realtors are now accustomed to welcoming as many as 100 or more potential buyers during an open house, with…
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