December 2024

This is a weird post to write, but I've had a wonderful ride with you all. As of 12/31/2024, I am officially retiring. I started my career helping people in and out of homes in the Summer of 2002. My Real Estate license with the state of California expires in the Summer of '26. I am thrilled not to have to take a bazillion hours of continuing education to extend it again!

I worked my tush off to help you all. Real Estate is very stressful, and although I don't regret a single moment of it, I'm ready to lead a more relaxed life. In our Tennessee Lake House.

Those tiny people are me and my Big Sis!

About 10 years ago, I started thinking about how my retirement was going to pan out. And, with much research, I realized that one of the most important things was to find a replacement for me. Someone that would care for each and every one of you and provide the same service that I always did. I met with several, and have been lucky enough to find two. You should know them by now.

     

My most awesome Realtor family!

Leslie Babikan and Jennifer Herring

Both of them have been working with me for a few years now. They've been the boots on the ground for our clients. And, every single one of my clients have adored them both. I am so happy and you are all so fortunate!

For me, what will I do now? Um, as little as possible. If you have real estate needs, reach out to any of us. If you call Leslie or Jennifer directly, let them know you are one of my peeps. They'll want to know 'our' story. Trust me, they like to know the background!

I plan to be painting more, puzzling a lot, reading bunches, and most of all? Relaxing. I'm overdue for that.  If you follow me on Facebook (I deleted X & Instagram from my phone), you'll know I colored my hair again. Not sure how long that will last. But, here's a recent picture of me when my eldest son was visiting last Summer and we took he and his wife out on our boat.

And, these were the most recent water color paintings I did. One was from real life. The other I was inspired from an artist I found on Instagram but can't recall their name.

Thank you for trusting me, and my 'family' recently as well. This last two decades have been wonderful helping you and your friends. I am hopeful that you will continue to trust me, by working with Leslie and/or Jennifer as they were both chosen for you.

Much Love Always. 😊

Mostly Pictures Today! 2025 Paint Color Predictions.

So, it's about time to talk about what the 2025 Colors are anticipated to be. I figured I'd show you with photos!

They've all been given fancy names by the paint company of course, but, until you get to the last one, they are all very, very bold. IMHO. I call them: Baby Poop Brown. Black. Dark Blue. Dark Brown. Burgundy. Salmon. Maybe Mustard. 

 

   

   

This one!!! 👇👇

I call this one Candy Cane Vomit.

"Forget Barbie hot pink! 2025 is all about embracing candy-colored accents. These bright tones feel electric in a room while also serving as a whimsical departure from the grays and midtones of years past. Wadden says, "We talked a lot about pops of colors over the last few seasons, unexpected red theory, Barbie pink, and think that playfulness is allowing people sort of the permission to take a little more risk with color."

Sherwin Williams's Paradox palette, a part of their 2025 Colormix® Forecast: Capsules, exudes this trend as it features delicious shades like Dragon Fruit, a juicy pink shade, and Euphoric Lilac, a mesmerizing purple."

This post is a reminder to ask us first, what color you should consider painting,

 when prepping your home for sale. 

Ask Us First! 

Market Minute Write-Up ~ California Association of Realtors

I try and share these with you about once a month. This one is from Monday of this week. FULL OF INFO!!!

October 21, 2024 – California home sales dropped to the lowest level in nine months but will likely improve, albeit slowly, as the market enters the final quarter of 2024. In the latest sale & price report, the number of opened escrows once again exceeded last year’s levels for the third consecutive month and point to an increase in home sales in October. The median home price in California continued growing for fifteen consecutive months, but at a more moderate pace, and is expected to continue moderating for the rest of year. With prices expected to soften and rates likely to normalize by the end of the year, the fourth quarter is a window of opportunity for homebuyers on the sideline to re-enter the market. In the broader U.S. market, housing starts dipped 0.5%, with single-family construction holding steady while multifamily development slowed. The economy remains solid with retail sales showing strong growth, despite concerns about consumers’ financial wellbeing and a slowing job market.

California home sales take another step back despite falling mortgage rates: Closed escrow sales in September for existing single-family homes in California dipped 3.4% month-over-month and reached an annualized rate of 253,010. This was the lowest sales level in nine months despite mortgage rates falling below 6.5% for the first time in over a year in August when most sales opened escrow. On a year-over-year basis, sales rose by 5.1% and nudged the year-to-date sales figure up 0.9% through the first nine months of the year. Meanwhile, statewide pending sales surpassed last year’s level for the third consecutive month, suggesting an increase in closed sales in the month ahead. The rebound in mortgage rates since early October, however, could slow sales’ growth pace and may result in softer-than-expected housing demand in the fourth quarter.

Slower price growth creates opportunity for homebuyers in Q424:  The statewide median home price in September continued to grow year-over-year for fifteen consecutive months, with an increase of 2.9%, which was the smallest gain since July 2023. On a month-to-month basis, prices dropped 2.3%, a dip larger than the historical seasonal decline observed in more than five decades. A smaller share of higher-priced homes in the mix of sales could be a contributing factor on the slower growth in the overall statewide median price. Housing inventory, on the other hand, has been improving steadily in recent months as the market enters the off-peak homebuying season which also might have applied downward pressure on home prices. With home prices expected to ease further in the coming months, the fourth quarter may present a good buying opportunity for those who have been on the sideline, especially since interest rates are expected to gradually move back toward their historical norms before the end of the year.

Mortgage rates surge to highest levels in three months: Mortgage rates have risen sharply since early October as hopes for a big rate cut by the Fed continues to fade after the release of a strong job report. The average 30-year fixed rate mortgage (FRM) on October 21, in fact, surged to the highest level since July, according to Mortgage News Daily. Rates have gone up from near 6% in mid-September to almost 7% for top-tier 30-year fixed loans. Today's sharp increase came without a clear explanation, as no significant economic report or event was released or took place that triggered the jump. While several theories have been proposed, including shifting election odds, options market dynamics, and concerns over U.S. deficits, none seem sufficient to explain the rapid rise. This marks one of the largest rate increases in recent months, particularly on a day without a major economic catalyst. Rate fluctuations could continue until after early November, as the upcoming jobs report, the presidential election, and the Federal Reserve's rate announcement are all key events that could create volatility in the market.

US housing starts ease on decline in multifamily construction:  In September, overall housing starts dipped 0.5%, reflecting a pullback from August's significant rise. Single-family construction, however, remained resilient with its second consecutive increase, primarily due to its three-month uptrend in permits. Lower mortgage rates, driven by the Federal Reserve's easing cycle that began in September, are expected to further boost single-family development despite ongoing financing challenges. In contrast, multifamily construction continues to struggle, with declines in both starts and permits as higher vacancies and reduced credit access weigh on new projects. Although some regions, like the South, show stronger activity in multifamily permits due to population growth, the broader trend for multifamily development remains weak. Builders remain optimistic about single-family housing, with the NAHB Housing Market Index rising in October, signaling improved expectations for the future.

Retail sales post solid gain, showcasing a resilient economy: U.S. retail sales exceeded expectations in September with a 0.4% overall increase, and posted a stronger-than-anticipated 0.7% increase after excluding sales at auto dealers and gas stations. Control group sales, which align with consumer spending in GDP calculations, also rose 0.7%, marking the largest increase in three months. Despite concerns about consumer financial health and potential labor market weakening, consumer spending remained resilient, as 10 of the 13 major retail categories saw increases. However, auto sales remained flat, and gas station sales declined, largely due to price fluctuations. Overall, consumer spending continues to support economic growth and will likely be reflected in the GDP number for Q3 to be released next week.

Santa Clarita Home Sales Activity - October 2024

Yep, I was out of town camping last week so I missed this blog post! But, here ya go!

First off, what a difference a year makes!

And, second, all communities including Acton to the East, Stevenson Ranch to the West, Newhall to the South, and Castaic to the North, are included in these numbers.

Coming Soon - 14

Active - 608

Pending/In Escrow - 331

Sold in the Last 30 Days - 219

And, sharing last years info for you here ...

October 2023

Coming Soon - was 12

Active - was 342

Pending/In Escrow - was 258

Sold in the Last 30 Days - was 209

So, in case you can't see BOLD fonts on your screen, we have almost double the amount of homes available for sale this year than we did at the same time last year. The other numbers are pretty similar. Just the number of Active.

One thing I've learned about Real Estate in the last 22 years? It's constantly changing. There are what we consider norms, but it still is an ever changing strategy to buy or sell a home. Ever Changing.

Need help, jingle. Wanna chat, holler. Have questions, you know how to find us!

The Flip Side to Lower Rates For Buyers

After months of sitting on the sidelines, many homebuyers who were priced out by high mortgage rates and affordability challenges finally have an opportunity to make their move. With rates trending down, today’s market is a sweet spot for buyers—and it’s one that may not last long.

So, if you’ve put your own move on the back burner, here’s why maybe you shouldn’t delay your plans any longer.

As you weigh your options and decide if you should buy now or wait, ask yourself this: What do you think everyone else is going to do?

The truth is, if mortgage rates continue to ease, as experts project, more buyers will jump back into the market. A survey from Bankrate shows over half of homeowners would be motivated to buy this year if rates drop below 6%.

With rates already in the low 6% range, we’re not terribly far off from hitting that threshold. The bottom line is, that when they drop into the 5s, the number of buyers in the market is going to go up – and that means more competition for you.

That increased demand will likely push home prices up, which could potentially take away from some of the benefits you’d gain from a slightly lower interest rate. As Nadia Evangelou, Senior Economist and Director of Real Estate Research at the National Association of Realtors (NAR), explains:

“The downside of increased demand is that it puts upward pressure on home prices as multiple buyers compete for a limited number of homes. In markets with ongoing housing shortages, this price increase can offset some of the affordability gains from lower mortgage rates.”

So, while waiting to buy may seem like a smart move, it could backfire if rising prices outpace your savings from slightly lower rates.

Right now, you’ve got the chance to get ahead of all of that. Today’s market is a buyer sweet spot. Why? Because a lot of other buyers are waiting – which means not as many people are actively looking for homes. That means less competition for you.

At the same time, affordability has already improved quite a bit. Recent easing in mortgage rates has made homeownership more accessible. As Mike Simonsen, Founder of Altos Research, says:

“Mortgage payments on the typical-price home are 7% lower than last year and are 13% lower than the peak in May 2024.”

And while the supply of homes for sale is still low, it’s also higher than it’s been in years. According to Ralph McLaughlin, Senior Economist at Realtor.com:

“The number of homes actively for sale continues to be elevated compared with last year, growing by 35.8%, a 10th straight month of growth, and now sits at the highest since May 2020.”

This means you now have more options to choose from than you’ve had in quite a while.

With fewer buyers in the market, improving affordability, and more homes to choose from, you have the chance to find the right one before the competition heats up.

If you’re waiting for the perfect time to buy, it’s important to understand that timing the market is nearly impossible. The longer you wait, the higher the risk that market conditions will shift—and not necessarily in your favor. As Greg McBride, Chief Financial Analyst at Bankrate, says:

“It’s one of those things where you should be careful what you wish for. A further drop in mortgage rates could bring a surge of demand that makes it tougher to actually buy a house.”

Don’t wait until you have to deal with more competition and higher prices – you already have the chance to buy a home while we’re in the sweet spot today. Connect with us to make sure you’re taking advantage of it.

Reach out to us today to see if this 'Sweet Spot' is your time!

Instant Reaction: Mortgage Rates NAR

Jessica Lautz

Dr. Jessica Lautz is the Deputy Chief Economist and Vice President of Research at the National Association of REALTORS®.

Content by Jessica Lautz

Facts: The average 30-year fixed mortgage rate from Freddie Mac fell to 6.08% this week from 6.09% last week. At 6.08%, with 20% down, a monthly mortgage payment is $1,935 on a home with a price of $400,000. With 10% down, the typical payment would be $2,177.

Positive: This is the lowest weekly average since September 2022. Interest rates are down 1.71% from October 2023. The savings on a $400,000 home would be $366 monthly and $4,392 annually. The mortgage interest rate one could receive this week is well below the historical average (dating to 1971) of 7.72%.

Negative: Mortgage rates are not likely to come down in a meaningful way for home buyers. While there could be minor reductions in mortgage interest rates, those waiting for further improvements in affordability could be priced out further as home prices continue to climb.

Just blogging & sharing info I think you'll find valuable.

Reach out to us for any questions, thoughts. needs

KeepYourWitz@SBCGlobal.net

(661) 313-5470

 

Laundry Rooms ~ Fancy Schmancy, or Work Horse?

So, I was perusing through Houzz looking at home stuff. Yeah, I like to do that. Our home in California has room for washer/dryer/sink and lots of cabinets. Our lake house home has that, plus a built-in ironing board and a long counter. With a linen closet and space for another folding table AND a chest freezer. Well, and TWO windows too.

As much as I'd love to 'decorate' both our laundry rooms, I just don't. If I'm selling a house, then heck yes, I'll even stage a laundry room!

I dig the sink in this and the open shelves, 

but you give up too much cabinet storage in this design.

The wallpaper on this one caught my eye. 

Wallpaper is making such a comeback!

My pups would totally sit in there 'helping' me do the laundry!

Dang, this is super fancy-schmancy!

Under cabinet lighting in a laundry room?

I LOVE this one. Absolutely love it. 

But, nope, wouldn't bother with cutsey-pie decor!

California house. 

Resting a basket of flowers heading out to stage someones house!

Lake House. 

Biggest laundry room I've had EVER!! 

But, see? No decor!

If you want even more ideas, enjoy the Houzz article below!

8 Exceptionally Pleasing Laundry Rooms