Joe Harjadi

11/04/2025

The US housing market is frozen:

Only 28 out of every 1,000 homes, or 2.8%, changed hands in the first 9 months of 2025, the least in at least 30 years.

The turnover rate has declined -38% since the 2021 peak, when 44 out of every 1,000 homes were sold.

By comparison, the rate stood at 40 per 1,000, or 44% higher, in 2019 before the 2020 pandemic.

The market is frozen due to a rate lock-in effect, where over 70% of homeowners hold mortgages with rates below 5%.

These owners refuse to sell into a 6%+ rate environment, while elevated home prices and borrowing costs have pushed potential buyers to the sidelines.

The housing market has stalled.

Follow us, The Kobeissi Letter, for real time analysis as this develops.

01/08/2022

Apartment living at all-time high

Apartment homes are where a record number of hearts are. New data reveals 97.5% of apartment units in the U.S. are inhabited. It's the "highest figure on record," writes Bloomberg, and up two percentage points compared to December 2020's occupancy rate. If you're looking for an apartment, this means you can expect to pay top dollar for it as low vacancy rates mean fewer options. If you're already a tenant, however, you might evade the steep prices if you're already mid-lease.

97.5% of professionally managed apartment units are spoken for as of December, the highest figure on record, according to data from the property management software company RealPage, Inc.

“I don’t think most people realize just how crazy that is,” says Jay Parsons, deputy chief economist for RealPage. “Not only is that a record, typically we consider 95 to 96% to be essentially full.”

Landlords face a loss on paper when it comes to filling units, known in the industry as loss to lease. This is the difference between the advertised rent and what renters actually pay.

Very few apartment operators are going to move a household up to full price, Parsons says. Keeping a paying tenant in place is a high priority, especially after the chaos of the last two years.

The housing shortage is so severe that property owners likely don’t need to charge max rents to make a bundle.

11/13/2021

The housing market remains hot this fall.
Competition is fierce, with fewer homes for sale and plenty of cheap financing available. Sellers are getting an average of four offers on their properties.

In each month from March through October 2021, the typical U.S. home spent fewer days on the market than in the fastest-selling month from 2016-2020, according to a new Realtor.com report.
Homes are also more expensive. The median listing price last month reached $380,000, 9% higher than in October 2020 and 22% higher than in October 2019.
We spoke to Andy Taylor, vice president and general manager for Home & New Ventures at Credit Karma, the personal finance company, for tips on things to consider before you make your offer.

What can you afford in this housing market?
For a preliminary understanding, there are numerous free services online that will help you understand how much you can afford to pay for a house, and what your estimated monthly payment will be.

Once you’ve done that, get pre-qualified or pre-approved based on where you are in the housebuying process. If you’re in the beginning stages of your homebuying journey, and just want to determine your budget, getting prequalified will give you an estimate, and won’t result in a hard inquiry on your credit report.
If you’re further along in the process and plan to purchase a home in the next few months, getting preapproved is recommended. Getting pre-approved gives you an idea of how much you can borrow, how much home you can afford. The process could even shed light on potential roadblocks that would prevent you from getting a mortgage, so you can address those issues before trying to purchase a home.

Search real estate for sale, discover new homes, shop mortgages, find property records & take virtual tours of houses, condos & apartments on realtor.com®.

10/18/2021

This Texas county ranks as #1 destination for people relocating from CA.

The Hollywood to Houston population pipeline is overflowing, a new study suggests. Harris County rabks as the #1 destination for people relocating to Texas from California. Among California counties, Harris County attracted the most new arrivals from Los Angeles County in 2019 (3,263), followed by San Diego County (840), and Riverside County (698).

Why are Californians swapping the West Coast for the Gulf Coast? A prime reason appears to be housing costs. The analysis shows that the median price difference between a home in Los Angeles County and a home in Harris County was $482k and gaining a median 577 sq-ft in additional price.

The housing market in Houston is booming since the pandemic began and price is sky-rocketing. If you are looking for a dream house, I am honored to be at your service to fulfil your needs.

Source: Eye witness news -abc13 10/18/21

03/14/2020

Where to get COVID-19 test?
Enter your zip code to find out the nearest COVID-19 test site. (from US HRSA.gov website)
https://findahealthcenter.hrsa.gov/
1. Go to clinics instead of crowded large facilities.
2. Fees: Testing and Treatments are free.

If confirmed, home isolation for 14 days, please help stop spreading COVID-19.

Search for HRSA funded Health Centers

03/10/2020

Here’s an interesting website you may also find interesting that gives you an update on corona virus:

03/10/2020

So much with the media or people talking about empty shelves, chill out and use your best judgement folks. We need to be wise. Only buy things needed and not to be panic and follow others to buy water or toilet paper. You can get wipes or napkin as replacement if you desperately need. Same as water, you can get green tea or juice to replace water. By doing so you help not to make things worse.

10/22/2018

https://nextdoor.com/post/94521343?init_source=copy_link_share

Stay in the know with Nextdoor, the private social network for neighborhoods.

08/07/2018

Utilizing tax exemptions is a great way to reduce your property taxes and increase your tax savings. Many homeowners qualify for exemptions but unfortunately are unaware of their potential savings and benefits.
The primary disability exemption is for people affirmed disabled by the U.S. government. They receive a homestead exemption which is almost identical to an over-65 exemption.
Veterans with disabilities may qualify for a property tax exemption ranging from $5,000 to $12,000 and depending on the severity of the disability.There is a 100 percent exemption for veterans with a 100 percent service related disability.

DISABILITY RATING EXEMPTION UP TO
10% to 29% $5,000 from the property's value
30% to 49% $7,500 from the property's value
50% to 69% $10,000 from the property's value
70% to 100% $12,000 from the property's value