Gluch Group San Diego Real Estate Agents

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Is now the right time to buy a house since mortgage rates are so high?In my most recent post, I dig into what I think th...
06/29/2022

Is now the right time to buy a house since mortgage rates are so high?
In my most recent post, I dig into what I think the rising interest rates mean for you as a potential home buyer and what it means for the market as a whole. https://gluchgroup.com/blog/is-now-the-right-time-to-buy-a-house-with-mortgage-rates-so-high/
Get the inside scoop about growing your real estate business, eXp, and all things real estate - https://gluchgroup.com/blog/⠀
I'm online right now! DM me about any questions you have - I'm here to help!⠀
Or contact me anytime - Email: [email protected] . Phone: (480) 329-4995⠀
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Should I worry about mortgage rates increasing right now? I’m looking to buy a house.Should you? I answer this in my mos...
06/29/2022

Should I worry about mortgage rates increasing right now? I’m looking to buy a house.

Should you? I answer this in my most recent blog post. So, check it out. https://gluchgroup.com/blog/is-now-the-right-time-to-buy-a-house-with-mortgage-rates-so-high/
And spoiler alert: probably not.
Get the inside scoop about growing your real estate business, eXp, and all things real estate - https://gluchgroup.com/blog/⠀
I'm online right now! DM me about any questions you have - I'm here to help!⠀
Or contact me anytime - Email: [email protected] . Phone: (480) 329-4995⠀
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I just bought a home and interest rates dropped. I feel like I missed out, is there anything I can do?Yes! You can refin...
06/29/2022

I just bought a home and interest rates dropped. I feel like I missed out, is there anything I can do?

Yes! You can refinance! Give me a call and let’s chat. I’d love to see how I can help.
Get the inside scoop about growing your real estate business, eXp, and all things real estate - https://gluchgroup.com/blog/⠀
I'm online right now! DM me about any questions you have - I'm here to help!⠀
Or contact me anytime - Email: [email protected] . Phone: (480) 329-4995⠀
⠀⠀⠀⠀

What’s the worst case scenario of buying a home right now with mortgage interest rates so high?Okay, well, I can’t speak...
06/29/2022

What’s the worst case scenario of buying a home right now with mortgage interest rates so high?

Okay, well, I can’t speak to every worst case scenario, but what I can say is that if you're working with a great team and you find a house you like, the bad news is that you might end up buying something a little less exciting than you could have a month ago for the same money. But this is nothing to worry about as you can always refinance down the road. If you have any questions about this or anything else give me a call at 480-329-4995. I’m always happy to help.
Get the inside scoop about growing your real estate business, eXp, and all things real estate - https://gluchgroup.com/blog/⠀
I'm online right now! DM me about any questions you have - I'm here to help!⠀
Or contact me anytime - Email: [email protected] . Phone: (480) 329-4995⠀
⠀⠀⠀⠀

What do I think about the current real estate market?I don't think interest rates are going to double. I think the Fed w...
06/29/2022

What do I think about the current real estate market?

I don't think interest rates are going to double. I think the Fed will do what they have to do to keep interest rates under control. But I do see prices increasing. I think we're going to see another 25% increase this year. As I said earlier, we need prices to get about 30% higher for affordability to start being a problem, and, unfortunately, that's probably going to happen eventually. My best guess is that in maybe a year and a half or two years we’re going to see that Cromford Index get well past 100 to 150, or 200, where it's more of a normalized market. But, in short, I don't think it's going to slow down anytime soon.⠀
We're online right now! DM us about any questions you have - we're here to help!⠀
Or contact us anytime - Email: [email protected] . Phone: (480) 378-6700⠀⠀

Supply in Real EstateSupply is another way to swing the market. Homes have to be built, but building houses takes time. ...
06/29/2022

Supply in Real Estate

Supply is another way to swing the market. Homes have to be built, but building houses takes time. This is not an overnight fix. And while homes are being built more people are being born and incomes are going up. Now, homeowners could sell, and supply would increase that way. However, with prices going up there’s not much incentive to sell right now. And unless they’re investment properties, when someone sells, they have to move somewhere, so that doesn’t help increase the supply of available homes. ⠀
We're online right now! DM us about any questions you have - we're here to help!⠀
Or contact us anytime - Email: [email protected] . Phone: (480) 378-6700⠀⠀

Affordability in Real EstateTo one end, what will cause demand to go down is if homes become less affordable. If people ...
06/29/2022

Affordability in Real Estate

To one end, what will cause demand to go down is if homes become less affordable. If people can’t afford a house then demand decreases. But right now, even though the market is really crazy right now, homes are still affordable. For things to get as unaffordable as they were in 2006, mortgage rates would have to double. Now, interest rates are not going to double tomorrow. Home prices are not about to suddenly go up 30% tomorrow and, right now, incomes are also on the rise.⠀
We're online right now! DM us about any questions you have - we're here to help!⠀
Or contact us anytime - Email: [email protected] . Phone: (480) 378-6700⠀⠀

What’s going to cause real estate prices to go down?I’m going to make this as simple as possible. Either you need more h...
06/29/2022

What’s going to cause real estate prices to go down?

I’m going to make this as simple as possible. Either you need more houses or you need less demand. It all boils down to that. So, we’re going to look at affordability and supply. Check out the full post. gluchgroup.com/blog/when-will-the-real-estate-market-slow-down-and-is-there-a-bubble-in-2022.
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We're online right now! DM us about any questions you have - we're here to help!⠀
Or contact us anytime - Email: [email protected] . Phone: (480) 378-6700⠀⠀

How is all this happening with real estate prices?There’s a shortage in the supply of homes right now. The current inven...
06/29/2022

How is all this happening with real estate prices?

There’s a shortage in the supply of homes right now. The current inventory of homes for sale in the US is about 1.5 million. For comparison, the peak in homes available for sale was 3.9 million in the summer of 2007. That's a massive difference. Since then, however, the United States population has grown by 31 million and, at the same time, new home construction has been slowed by material and labor shortages and is struggling to keep up with population growth. In short, we’ve got more people with less houses to buy.

So, it’s really a supply problem right now. It’s not a demand problem. There’s plenty of demand right now. Demand is pretty normal right now. We just have an insanely low number of homes to fulfill that demand. That’s a hard problem to solve.⠀
We're online right now! DM us about any questions you have - we're here to help!⠀
Or contact us anytime - Email: [email protected] . Phone: (480) 378-6700⠀⠀

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1042 Loring Street
San Diego, CA
92109

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