John Case - Stanberry Realtors

12/03/2024

No one is above the law, unless you are a Biden.

11/03/2023

November news - Let’s Look at the Numbers!
Starting this short article, I feel that I must state the obvious. Home prices are up and continuing to be expensive even though many people are being prices out of the market. To this point, home sellers have not yet been convinced that prices might be out of line with the state of the economy. Home Buyers are fighting the condition of what appears to be mortgage interest rates that are excessive, especially given the cost of day-to-day expenses and the pocketbook is stretched to the limit. The general feeling is that there may be no way out of the conditions we are currently experiencing these days.
Many of us remember the real estate crash of 2008. As we neared the first bottom of the market (there were 2 downward spikes, the 2nd in 2010) the feeling was similar. People were selling at whatever price they could get as the deceleration of the decline appeared to be non-stop and rapid. ‘Experts’ were advising that people should walk away from their obligation as the prices were heading to land value of less. Despite all the ‘help’ financial institutions were offering, people ran away from housing. At the time, there were plenty of homes on market and moving to a rental seems to be the smart thing to do. Sadly, even people who had owned homes for over 20 years were part of the panic and also lost their homes, often moving out of fear rather than good sense. These were scary times and lasted for a much longer period than they should have.
Of course, the market stabilized and today prices are now much higher than they were during the 2006-7 hot market. Much of the heat was applied by government forces. No income and stated income loans were easy to get, and the interest rates were less (6 to 7%) than the appreciation of price levels of the homes. People stood in lines, took chances on lottery schemes to buy homes not yet built, ‘investors’ went to seminars to learn how they could learn to flip homes that were not yet even built.
But that is not today. The markets are very different. I recommend that you ignore the commercials, advice from ‘experts’ that brag on their systems that could get you a home or sell your home, often with guarantees that hold no water.
HOMEBUYERS! Here is the truth. Mortgage interest rates are high. However, the current rates hovering around 8% will not last forever; but they may go higher. They also are not forever. Using interest rates as an excuse is like standing on the pyre and complaining about the cold. There are always other options to explore, and the markets will adapt to find a comfortable place for you to be.
HOMESELLERS! Prices have held on for an extended period. This also will not last forever. If you are staying because you do not want to trade your 3% mortgage interest rate for one that is higher. You need to look at other options that consider the entire impact of a sale and purchase of your home. Moving today really is not much more difficult than any other time once you have set up a plan. It is still a difficult thing to do.
HOMEBUYERS AND HOMESELLERS! Interest rates should not be the only consideration that determines your move. There are dozens of reasons that drive your move, and they all need to be considered. Another fact that Is very important. It will be a very long time before we see a 3 or 4% mortgage interest rate again. It took 30 years of time for the economy to see it. I expect that we will not see it for at least another. Finally, markets correct themselves and the real estate market is no different. If governments try to ‘fix’ them, just look at what they have done today.

08/17/2023

Interest rates have hit housing hard: Would-be buyers are locked out, and would-be sellers are staying put.

08/17/2023

There are options still....call me @512-772-6293

Interest rates have hit housing hard: Would-be buyers are locked out, and would-be sellers are staying put.

08/17/2023

https://www.wsj.com/personal-finance/what-7-mortgage-rates-mean-for-home-buyers-c5e88c1b?st=wgsofncq9ykz253&reflink=desktopwebshare_permalink

Buyers should focus on what they can control rather than try to predict mortgage rates.

07/15/2023

Ball of Confusion
The title above (a song by the Temptations in 1970) describes what many people see with respect to real estate purchase and sale. With the rapid changes we are seeing in the market, mortgage market, and potential employment changes, many people have decided to wait until things improve. Deciding what this means can be a challenge.
Things changing might mean when interest rates improve, or when prices begin to decline (or accelerate), or when the employment environment is more stable. It could also mean things like when you retire, when the kids get out of school, with seasonal or graduation.
All of these things are meaningful to people who are confronted by them and are very important to those who are impacted.
There is an important item that is often overlooked by the potential Homebuyer or Home seller. And here it is, the market doesn’t car about any of this and will go on its way bowing to the power of supply and demand.
A few other items need to be considered while thinking of buying and selling a home. The fact that you are thinking about it means simply that you want to improve your quality of life. While you wait for the market or your lifestyle change, the fact is, it will cost you more the longer you wait. Most of my clients that attempted to ‘wait it out’ ended up spending more than originally planned. It can get worse than that. I had clients that waited for 3 years for the market to become more affordable. While waiting for the 3 years, their rent doubled. The home we found that met their need during the same time, increased over $250,000 in price. Due to the delay, they lost on 2 fronts. Their rent increased far more than their original estimated payment which also became unavailable due to price increases of the homes they saw, and interest rates increased. They eventually moved out of the area without purchase. While this is the worst case story I experienced personally I have had the same event (with a much smaller impact to my clients) many times.
Time can be your enemy, of course, and is especially in the world of real estate and more so if you are not active in the market and needing an improvement in where you live today.
Your real estate professional can help sort out your rationale through simplification. Everyone wants a ‘deal’ of course. In an open market ‘deals’ are rare but can happen. For the Homebuyer there are only 2 questions that can determine whether you should make an offer on a property you see. First, ask yourself ‘Can I afford this home?’ Remember this will be a number that does not change, unlike your rent. As time goes on, it should become more affordable if your income improves. Second, and possibly more important, your question should be ‘Can I make this home one that I will love?’ This is important as it will be a place that you eat, sleep, and raise your family over a fairly extended time. It is a multifaceted consideration that your real estate professional is trained to guide you through.
If you have anything to ask, please contact my at 925-382-9771 or via [email protected]

12/21/2022

46 dry and dreary right now. Headed to lows under 20 Thursday night with highs possibly under 30 Friday and Saturday. Add in a wind chill on Thursday makes it all that much more fun! Probably will not go caroling Saturday night.

12/18/2022

What a game!!!!

11/12/2022

Consider this and give us a call 925-382-9771

11/04/2022

Things have changed a lot in the past 3 months. Give us a call for the details 925-382-9771.