April 18, 2024

Recent strong economic data causing speed bumps ahead for interest rates

driver celebrate victory pass the finishing point and Race car racing on a track with motion blur.

We remain in a paradoxical environment where the ongoing strength of the U.S. economy raises concerns for the housing market. Strong jobs numbers last week were followed by equally strong inflation numbers this week, and then retail spending numbers exacerbated concerns that any rate cuts from the Fed would not come until the second half of the year, if at all. As a result, the bond market has sent interest rates climbing as investor demand for treasuries declines. The 10-year note has now surpassed 4.5% for the first time in nearly 6 months and mortgage rates have followed them north of 7% again. The outlook has not changed dramatically, but we expect more speed bumps in the coming months as the markets digest the latest data.

 

Inflation Moves Wrong Way, Scares Bond Market: The latest inflation data topped expectations for the third month in a row, with the March headline Consumer Price Index (CPI) registering an increase of 0.4% month-over-month and an increase of 3.5% year-over-year. Economists generally expected last month’s index to climb 0.3% and 3.4%, respectively. Energy and shelter costs continued to represent the driving force fueling a solid increase in the headline CPI number. The Core CPI – inflation excluding food and energy – recorded a year-over-year growth of 3.8% in March, a touch higher than the estimated 3.7% projected by the consensus. With consumer price inflation remaining sticky in the latest report, the Federal Reserve will likely stay put in their upcoming meeting in May. The economy should ease starting at the end of the second quarter and we still expect the central bank to cut rates before the end of the year.

 

Mortgage Rates React to Stronger-Than-Expected Economic Data: Higher-than-expected inflation caused a severe reaction in the bond market last week as 10-year Treasury rates jumped above 4.5% for the first time since November as the odds of a Fed rate cut before the end of the second quarter drop. As a result, mortgage rates jumped up as well with the average 30-year fixed-rate mortgage being quoted at 7.44% in the latest daily numbers. The recent rise in rates has weighed on closed and pending sales, which lost some momentum in March after rising solidly in February. However, longer-term rates have been catching up to where short-term rates have been for some time, leaving the yield curve less inverted now than it has been since rates began rising sharply in 2023. This suggests that a “soft landing” that avoids and economic recession is more likely now than was perceived last year.

 

Housing Inventory Thaws, But Supply Still an Issue: Even with the jump in rates and consequent impact on purchasing power for potential homebuyers, housing supply remains the largest obstacle to more home sales. Fortunately, the inventory shortage has begun to thaw very slightly of late. New listings have been growing on a year-to-year basis providing more options to buyers that are finally beginning to replenish closed transactions each month. However, the number of homes reaching the market are still too few to prevent rising competition as we enter the Spring Homebuying season. The median number of days a home takes to enter into escrow has fallen into the teens in recent weeks and nearly half of all the transactions are closing above list price once again. Home sales are expected to moderate in response to this more recent jump in interest rates, but the strong economic data and low levels of unemployment continue to put pressure on a housing market that is near historic lows for supply.

 

Big Spending Report Shows Undaunted Consumers: Although savings rates continue to fall and credit card balances and delinquencies are rising, consumer spending continues to be a significant driver of economic growth. Just like the latest jobs numbers, household spending came in much better than expected. Consumption represents nearly 70% of the U.S. economy and ongoing strength in the household sector in the form of very low unemployment with rising wages and income has translated into overperforming GDP for the past few quarters when many had expected to see the spending boom slow. Many growth forecasts for the first quarter are now being revised upward, which is likely to be viewed as a negative in the bond market because it will be seen as a reason the Federal Reserve will use to delay any rate cuts.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our 

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

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Coming Soon

3022 Bostonian Dr. 

Rossmoor 90720

4 Bed | 3 Bath | 2,612 SF | $1,700,000

 

Welcome Home - Updated Kempton model home featuring 4 bed, 3 baths in Rossmoor. Located within walking distance to parks and shopping. Just a short drive to the Seal Beach pier. Great schools in the award winning Los Alamitos school district. 

For Sale

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

 

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

 

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

1985 San Francisco Ave. 

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

 

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

Recently Sold

16136 Cornuta Ave. #117 

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

 

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage. 

14715 Bellflower Blvd. 

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey. 

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

 

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard. 

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave 

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle. 

5417 Bonfair Ave 

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood. 

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

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SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

 

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

April 11, 2024

Futures point to doubts over Feds rate cut plans

Long Beach Marina and city skyline_ Long Beach_ California.

With the jobs report coming in stronger than expected for the third month in a row, a soft landing in 2024 is looking more and more likely for the economy. However, a decent growth rate in economic activity and a higher than expected March Consumer Price Index report, are delaying the Federal Reserve’s rate-cut movements. As such, Wall Street has adjusted its expectations on the number of cuts accordingly, which might have resulted in the most recent rate increases. Despite the change in expectations, futures contracts continue to point to a 50-75 basis-point (bps) decline in Fed policy rate this year.

 

Another strong report for the job market in March: Hiring at the end of the first quarter came in much stronger than expected again, with non-farm payrolls adding a seasonally adjusted 303k jobs in March. The gain last month easily topped consensus expectations of 200k. The health care sector remained strong with an employment gain of 72k in March, followed by government (71k), leisure and hospitality (49k), and construction (39k). The unemployment rate slipped down to 3.8% as a result of strong jobs growth, despite a tick-up in labor supply. The labor force participation rate rose 0.2% to 62.7% in March, reaching a four-month high. Wage growth was mostly in line with Wall Street estimates, with average hourly earnings rising 0.3% month-over-month, but slowing to a nearly three-year low of 4.1% year-over-year. The latest jobs report continued to suggest that the labor market remained solid, which might have provided more reasons for the Fed to stick with its wait-and-see approach to cuts.

 

Futures point to doubts over Fed’s rate cut plans: The strong jobs report released last week and the higher than expected March CPI report this week cast doubts on whether the Fed can keep rate cuts on track this year. At the end of 2023, Wall Street was expecting the central bank to cut rates by 100 bps to 150 bps in 2024. Reports have shown that the economy is more resilient than previously thought and economists have adjusted their expectations downward since then. More investors are now speculating that the Fed may cut its policy rate just once or twice before the end of the year. Futures contracts tied to the federal-funds rate, indeed, indicate that the benchmark rate will finish the year around 4.75%, well below the 4% suggested by those contracts earlier this year.

 

Home purchase sentiment dips for the first time in four months: Home Purchase Sentiment released by Fannie Mae had its first decline since November 2023, as consumers lowered their expectation in the latest mortgage rate outlook. Twenty-nine percent of the survey respondents in March believed that rates will go down over the next 12 months, a sizable drop from 35% recorded in February. The share of consumers who said it would be easy to get a home mortgage today also declined 4 percentage points to 42% last month. Strong jobs report and concerns about inflation remaining sticky were likely the reasons behind the increased pessimism in rates movement and mortgage eligibility. Despite the drop in optimism towards rates, consumers continued to feel more positive about the current housing market conditions. Those who said it was a good time to buy rose 2 percentage points to 21% and those who said it was a good time to sell inched up 1 percentage points to 66%. Both measures have increased multiple months in a row, which is an encouraging sign for the spring home buying season. 

 

Homeowners concern about impact of weather on insurance premiums: A study conducted by Fannie Mae indicates that consumers are concerned about how weather-related events could have an impact on their homes and their insurance premiums. At the regional level, those who live in the West are most concerned about extreme heat (27%), drought (24%), and wildfires (22%). Many homeowner correspondents are worried because of the resulting expenses. Two-thirds of homeowners, in fact, said that weather-related damage has had an impact on their insurance premiums. Among homeowners who have homeowner’s insurance, nearly one out of ten were unsure if they would be able to afford their premiums at the next renewal date.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

 

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. OPEN HOUSE

Saturday 1:00 - 4:00 pm & Sunday 12:00 - 3:00 pm.

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

 

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

1985 San Francisco Ave.

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

 

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

Recently Sold

16136 Cornuta Ave. #117

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

 

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage.

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

 

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

Facebook  Twitter  Instagram  Linkedin  Youtube  

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

 

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

April 5, 2024

How will strong consumer spending impact interest rates?

Sunset over the Pacific Ocean_ in Long Beach_ California.

The economy had solid growth in the first quarter with consumers feeling more confident about their financial well-being than last year. Their resilience in spending, however, is keeping inflation from falling and could create a real problem for the Fed in bringing down interest rates in the near term. Other macroeconomic indicators such as household purchasing power, on the other hand, suggest that the economy should start pulling back in the near future. As of now, the central bank is still projected to cut rates by 75 bps this year and the first rate-cut is expected to be in June. If the prediction turns out to be true, rates should begin a more sustainable declining trend in May, which should help improve the housing market in the spring home buying season. 

 

Consumer confidence holds steady but short-term outlook slips: Consumer assessment of the economy and their financial well-being was virtually unchanged in March, as the Conference Board reported a slip of its Consumer Confidence Index by 0.1 points from a downwardly revised 104.8 recorded in February. Consumers, in general, felt more positive about their current situation, but also became more concerned about their future outlook. The Present Situation Index increased 3.4 points month-over-month to 151.0 in March, but the Expectation Index fell 2.5 points from the prior month to 73.8. Lower expectations for the labor market conditions and the consumers’ assessment of their income prospect were contributing factors to the increase in pessimism in the consumers’ short-term outlook. With interest rates likely to fluctuate throughout the month of April, consumers’ short-term expectations could remain unsettled in the upcoming month. 

 

Consumer spending surges by the most since January 2023: After pulling back on spending at the start of the year, consumers began to splurge again in February despite borrowing costs remaining elevated. Consumer spending, or personal consumption expenditure, jumped 0.8% month-over-month in February after registering a more moderate 0.2% in January. The runup in overall spending was primarily due to a surge of 0.6% in the service sector, the biggest increase since the summer of 2021. If consumers continue to spend freely in the service sector, service prices may not ease back in the short term and could post a real problem for the Fed in making their decision on cutting rates. 

 

New home sales eased in February: New home sales in the U.S. came in softer than expected in February, with the number of newly constructed single-family houses sold dipping 0.3% month-over-month but gaining 5.9% year-over-year. The uptick in mortgage rates in February and a bounce back in inventory in the resale market might have curtailed sales in the new housing market in the latest report. Prices for new homes also came down in February with the median price dropping 7.6% from the year-ago level to $400,500 and reached the lowest level since June 2021. Declines in new home prices could be attributed to multiple factors. Builders’ willingness to reduce prices as construction costs dipped and developers releasing more smaller and affordable units in recent months are two main reasons that may offer some explanations. New housing inventory continued to rise and reached the highest level since November 2022, with new housing units climbing to 462,000 in February, an increase of 5.9% from the same time last year. The February inventory level is equivalent to a supply of 8.4 months and remains well above the historical average of 5.9 months. 

 

Residential construction spending continues to rise in February: Higher interest rates might have weighed on overall construction spending, but residential construction spending remained on an upward trend in February. Total construction spending in the second month of the year dropped 0.3% from the prior month, primarily due to nonresidential spending falling 1.0% as private and public categories weakened. Single-family outlays, on the other hand, increased again for the third straight month, with spending for single-family units rising 1.4% month-over-month and 17.2% year-over-year. Multifamily spending dipped from the prior month by 0.2% as vacancy rate continued to climb and rent growth softened further. With new home sales expected to pick back up as the market enters the spring home buying season, residential spending – particularly single-family outlays – should inch up further in coming months. 

 

Mortgage delinquency rate remains flat from last year: Mortgage delinquency at the national level was unchanged and remained near an all-time low in January, according to the latest Loan Performance Insights released by CoreLogic. Mortgage borrowers who were late in making their payments by 30 days or more accounted for 2.8% of all outstanding mortgages in the first month of the year, flat from the same level recorded 12 months ago. Twelve states reported year-over-year increases in overall delinquency rates, while 19 states’ rates remained unchanged from a year ago. A strong job market, moderate increases in home prices, and fewer homebuyers overleveraging in recent years when purchasing their properties are reasons that kept delinquency rates from rising high in the past couple of years. With home prices projected to increase in 2024 and the economy not likely to enter a recession this year, mortgage delinquencies should remain steady in the next 12 months.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

 

Amazing ocean views in this beautifully remodeled open floor plan condo at the iconic International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views.  OPEN HOUSE

Saturday & Sunday

12:00 - 3:00 pm

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

 

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

1985 San Francisco Ave.

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $1,020,000

 

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

Recently Sold

16136 Cornuta Ave. #117

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

 

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage.

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

 

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

Facebook  Twitter  Instagram  Linkedin  Youtube  

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

March 28, 2024

Rates Decline Slightly This Week After Fed Meeting

Provence. A wicker basket with Easter eggs_ lavender_ candles and white rabbits in the interior of the living room on a wooden table. The concept of home comfort in the bright holiday of Easter 2022.

The Fed delayed lowering the federal funds rate for at least six more weeks, but its latest projection suggested that the central bank still intends to have three rate cuts by the end of the year. Since the announcement, mortgage rates have declined slightly and should help mortgage application activity bounce back. Meanwhile, the lack of inventory and the belief of lower rates ahead continued to lift builders’ confidence, as evidenced by a strong rebound in residential construction, a nearly two-year high in building permits, and an almost 10% growth pace in completed projects.

 

The Fed decides to hold rates steady but still plans to cut rates three times by end of 2024: At their latest meeting last week, the Federal Open Market Committee (FOMC) decided to leave the federal funds rate unchanged. The decision was widely anticipated, after recent economic reports suggested that inflation remained sticky, and the overall economy continued to be solid. The focus of the release was mostly on the Fed’s projections for future rate cuts, which was in line with their previous expectation of three rate cuts for the year 2024. The latest news from the Fed was more encouraging than what the market expected and resulted in an improvement in the bond market, which consequently eased mortgage rates slightly from where they stood prior to the announcement.

 

Mortgage Rates Drop Slightly This Week: Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®) on March 28, showing the 30-year fixed-rate mortgage averaged 6.79%, down 8 basis points from the previous week—one basis point is equal to one hundredth of a percentage point.

 

Homebuilder sentiment turns positive for the first time since July: U.S. homebuilders reported feeling more confident about their businesses than they have had since last summer, as demand for new housing units continued to rise despite stubbornly high mortgage rates. The National Association of Home Builders/Well Fargo Housing Market Index, which tracks homebuilder sentiment, rose 3 points in March to 51 and was the fourth consecutive monthly gain the index recorded. The sentiment index reached the highest level since July of last year and moved into positive territory (above 50) for the first time since then. Builders are still using sales incentives such as mortgage rate buydowns, but fewer of them are lowering home prices to attract buyers. More builders also believe that as mortgage rates improve, especially in the later part of the year, many more buyers on the sidelines will reenter the market. 

 

US residential construction rebounds strongly in February: Boosted by mild temperatures and a persistent shortage of homes on the resale market, housing starts climbed 10.7% month-over-month in February on top of an upward- revised January's figure. It was the highest monthly gain in nine months and marked a strong reversal of the 12.3% month-over-month decline seen in January. The report released last Tuesday by the US Census Bureau and the Department of Housing and Urban Development, also showed a better outlook for residential construction in the months ahead, as building permits increased 1.9% month-over-month to reach 1.518 million and marked the biggest leap since August. The report continued with more good news as housing completions came in 19.7% higher than the revised January estimate and 9.6% higher compared to one year ago. The sharp increases will continue to provide more options for buyers in the supply constrained market.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

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Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

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Coming Soon

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

 

Amazing ocean views from every room in this beautifully remodeled open floor plan condo at the International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

For Sale

1985 San Francisco Ave.

Long Beach 90806

3 Bed | 2 Bath | 1,509 SF | $930,000

 

This historic gem awaits you in the charming Wrigley neighborhood of Long Beach! This gorgeous Spanish home, built in 1928, is full of charming curb appeal with its gated courtyard, porte cochere, red-tiled roof and front steps leading to the turret entry!

6544 Cerritos Ave.

Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

 

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

In Escrow

2892 Walker Lee Dr.

Rossmoor 90720

5 Bed | 8 Bath | 6,041 SF | For Rent $15,000 / mo

 

Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

Recently Sold

16136 Cornuta Ave. #117

Bellflower 90706

3 Bed | 2.5 Bath | 1336 SF | $590,000

 

Beautifully remodeled townhome with newly updated kitchen, baths, flooring, lighting, etc. Private 2 car attached garage.

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

 

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

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SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

 

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

March 21, 2024

California Home Sales Reach Highest Level In 17 Months

 

Consumers have been feeling positive about buying and selling since the start of the year, and the latest housing market report released by C.A.R. reflected the improvement in optimism. Both supply and demand increased in February and the competitiveness of the market appeared to be heating up as we entered the spring homebuying season. With the inflation data coming in stronger than expected in the past couple of weeks, rates began to trend up again, which could create some headwinds for homebuyers in the near term. While the market may see more moderate sales in March, housing demand should pick back up in the later part of the home buying season as inflation shows more signs of easing and rates begin to trend down again.

 

Housing supply shows further improvement but could slow in weeks ahead: Active listings at the state level increased on a year-over year basis for the first time in 11 months, and the increase for the current month was the largest in 12 months – an encouraging sign that housing supply could be heading in the right direction as the market approaches the spring homebuying season. Newly listed for-sale properties also increased from a year ago for the second consecutive month by double digits as more sellers put their homes up for sale. The recent rising trend in mortgage rates, however, could slow the flow of supply in coming weeks as potential sellers hold off on putting their house up on the market until rates moderate again.

 

California home sales reach highest level in 17 months: Home sales in California continued to improve in February with the statewide existing single-family home sales reaching a level last seen in September 2022, as momentum started by the decline in mortgage rates at year-end got carried over to February. Sales of existing single-family homes in California totaled 290,020 in February, up 12.8% from 257,040 in January and up 1.3% from 286,290 recorded 12 months ago. Pending sales at the state level slipped back down by -2.6% in February after recording its first year-over-year gain since May 2021, as mortgage rates rose to the highest level in two months. With rates rising throughout the month of February, the growth pace of closed sales could slow in March before picking back up in the later part of the home buying season.

 

Median price dips from the prior month but registers another annual gain in January: The statewide median price registered a strong year-over-year gain in February. California recorded a median home price of $806,490 last month, up 2.2% from $789,480 in January and up 9.7% from $735,300 in February 2023. The near-double-digits year-over-year gain was the eighth straight month of annual price increases for the Golden State. It was also the tenth time in the last 11 months that the median price of an existing single-family home exceeded $800,000. While tighter housing supply was the primary reason for the increase in home prices, more higher-priced housing units being sold was also another factor for the strong surge in price growth in February. 

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

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Coming Soon

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

 

Amazing ocean views from every room in this beautifully remodeled open floor plan condo at the International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

For Sale

6544 Cerritos Ave.Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $699,000

 

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

For Rent

12661 Martha Ann Dr.

Rossmoor 90720

4 Bed | 3.5 Bath | 2,221 SF | $6,000 / mo

 

Welcome Home - Located in the highly sought-after prestigious community of Rossmoor, Orange County. All elements throughout this 4 bedroom, 3.5 bath turn-key home come together to create a space that radiates contemporary style with modernist amenities.

In Escrow

2892 Walker Lee Dr.

Rossmoor 90720

5 Bed | 8 Bath | 6,041 SF | For Rent $15,000 / mo

 

Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

Recently Sold

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

 

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

2059 W 160th St.

Torrance 90504

2 Bed | 1 Bath | 837 SF | $780,000

 

Discover Your Dream Home in North Torrance! This charming 2-bedroom home is nestled on a serene residential street, offering you a remarkable opportunity to own in this sought-after neighborhood with great schools.

781 W 30th St

San Pedro 90731

3 Bed | 2 Bath | 2,067 SF | $1,225,000

 

Stunning 3-bed, 2-bath home with breathtaking ocean views in Coastal San Pedro. Experience the beauty of the ocean from the front yard, primary bedroom, and the expansive backyard.

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SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

March 14, 2024

Housing market continues to show promising signs... Market Update for 3/14/2024

Cute dog with party glasses at home. St. Patrick s Day celebration

The housing market continues to show promising signs of a better spring homebuying season that we saw last year. Both closed and pending sales appear to have risen again in February and all signs point to a market that is heating up as days on market falls, the percentage of sellers discounting to attract buyers falls, and the percentage of homes closing above list price rises.

 

Market data still looks encouraging: Pending sales in February rose for the 3rd straight month in February, showing that even the modest decline in rates we have seen this year are helping to get buyers off of the sidelines. The number of homes entering escrow last month increased by 8.2% compared with February 2023. In addition, California has finally begun to see a slight increase in new inventory hitting the market. In fact, new listings added to MLSs across the state were up by double-digits in January and February—the first noticeable increase since rates first started to rise. However, pending and sales also both look to be up by or near double-digits meaning that overall active inventory levels remain almost unchanged. As demand seems to pick up much more quickly than new supply, small changes in rates have already caused the market to become more competitive. 

 

Home purchase sentiment climbs for the third straight month: Home Purchase Sentiment released by Fannie Mae rose again in February 2024, with the index inching up 2.1 points to 72.8 in the latest monthly read. More respondents to the sentiment survey felt better last month about home buying and home selling, with those who said it was a good time to buy rising 2 percentage points to 19% and those who said it was a good time to sell jumping 5 percentage points to 65%. Despite a small monthly dip of one percentage point, over a third of respondents (35%) continued to believe that mortgages will decline in the next 12 months, a sharp increase from the share of 15% recorded 12 months ago. Moreover, the share of consumers who said it would be easy to get a home mortgage today improved from 4 percentage points to 46% in February. Consumers were also slightly more optimistic last month about the economy, as an increasing number of them (31%) believed the economy was on the right track, a moderate improvement from January (25%).

 

Homeowner equity rises again in the fourth quarter: Homeowner equity increased solidly on an annual basis for the second consecutive quarter in Q4 2023, according to the latest CoreLogic Homeowner Equity Insights report. Homeowners with mortgages in the U.S. have seen an aggregated increase of $1.3 trillion in equity since Q4 2022, a jump of 8.6% year-over-year. Mortgaged residential properties with negative equity declined 1.1% from Q3 2023 and 15% from Q4 2023. Roughly 1.8%, or one million, of all mortgaged properties were underwater, which was significantly below the peak of 26% observed in Q4 2009. On average, U.S. homeowners with mortgages gained $24,000 in equity last quarter compared to a year ago. California had the fourth highest gain of all states, with an average homeowner equity increase of $49,000 year-over-year in Q4 2023. The Golden State had a share of homes with negative equity at 0.7% in Q4 2023 and was the state with the smallest share among all states reported by CoreLogic.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Hope you have a great St. Patrick's Day!

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Coming Soon

700 E Ocean Blvd #607

Long Beach 90802

1 Bed | 1.5 Bath | 880 SF | $625,000

 

Amazing ocean views from every room in this beautifully remodeled open floor plan condo at the International Tower! This beautifully updated modern high-rise condo features hardwood flooring, fresh interior paint, scraped ceilings, and is light and bright with expansive ocean views. 

For Sale

6544 Cerritos Ave.Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $735,000

 

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

For Rent

12661 Martha Ann Dr.

Rossmoor 90720

4 Bed | 3.5 Bath | 2,221 SF | $6,000 / mo

 

Welcome Home - Located in the highly sought-after prestigious community of Rossmoor, Orange County. All elements throughout this 4 bedroom, 3.5 bath turn-key home come together to create a space that radiates contemporary style with modernist amenities.

In Escrow

2892 Walker Lee Dr.

Rossmoor 90720

5 Bed | 8 Bath | 6,041 SF | For Rent $15,000 / mo

 

Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

Recently Sold

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $655,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

 

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

2059 W 160th St.

Torrance 90504

2 Bed | 1 Bath | 837 SF | $780,000

 

Discover Your Dream Home in North Torrance! This charming 2-bedroom home is nestled on a serene residential street, offering you a remarkable opportunity to own in this sought-after neighborhood with great schools.

781 W 30th St

San Pedro 90731

3 Bed | 2 Bath | 2,067 SF | $1,225,000

 

Stunning 3-bed, 2-bath home with breathtaking ocean views in Coastal San Pedro. Experience the beauty of the ocean from the front yard, primary bedroom, and the expansive backyard.

Facebook  Twitter  Instagram  Linkedin  Youtube  

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

 

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

March 7, 2024

New Expectations For Mortgage Rates - Market Update for 3/8/2024

Luxurious and elegant living room with slate and dark yellow tones

Recent economic reports suggest that inflation continues to cool from last year but may remain sticky in the short term. As a result, mortgage rates have been moving mostly sideways in the past couple of weeks. With the labor market easing and consumers spending less since the start of the year, the economy could see a slowdown in the months ahead. While it is widely expected that the Federal Reserve will not cut its policy rate in its upcoming meeting, mortgage rates could begin to trend down more meaningfully towards the end of the second quarter if the economy continues to slow. 

 

Mortgage rates remain elevated after key inflation data: The average 30-year fixed rate mortgage (FRM) reported by Freddie Mac for the week ending February 28 climbed again for the fourth consecutive week to the highest level since mid-December of last year. More recent data collected by Mortgage News Daily, however, indicated that rates moderated slightly since early last week. A tick-up in jobless claims and the 12th straight downward move on a key inflation metric were the primary reasons for the decline. While the latest PCE deflator – the Federal Reserve’s preferred inflation measure – reflected a continuing cooling trend in inflation on an annual basis, it also recorded the highest monthly gain since January 2023, a sign that suggests that inflation could remain sticky. The Fed wants to see more evidence that inflation is slowing consistently and could wait until the second half of the year before making any rate cuts. Mortgage rates, as a result, could remain elevated at the start of the homebuying season.  

 

Income edges up but inflation-adjusted spending dips: Americans were making more in January but may not be spending more after accounting for inflation. Personal income growth jumped 1% on a month-over-month basis and recorded the highest increase since July 2021. Strong wage growth (0.4%) last month continued to put upward pressure on personal income growth, but gains in rental income (+1.6%), receipts on assets (+2.1%), and cost-of-living adjustment to Social Security also contributed to the rise in personal income. Despite the increase in income, consumers were still spending less after adjusting for inflation. With the core PCE deflator notching its biggest monthly gain in 12 months, real consumer spending, in fact, declined 0.1%, the lowest since August of last year.  

 

Construction spending unexpectedly falls in January: Construction spending in the U.S. started off the year slow with total outlays declining on a month-to-month basis by 0.2% in January, its first drop in 13 months. While the overall spending continued to increase on a year-over-year basis by 11.7%, the monthly dip was a slight surprise as economists projected a 0.2% increase for the month. Harsh winter weather likely played a role in the decline and last month’s weakness remained concentrated in the nonresidential sector. Residential spending continued to rise solidly at the start of the year, with single-family outlays jumping 0.6% month-over-month in January. Multifamily spending, on the other hand, dropped for the fourth time in the past five months, with a monthly decline of 0.6% in the first month of the year. With vacancy rate likely to climb as more new apartments are expected to be released this year, multifamily construction should pull back further in the next 12 months.

 

Mortgage delinquency holds steady near historic lows: Mortgage delinquency inched up at the end of 2023 but remained near record low levels, according to a recent report from CoreLogic. Mortgage borrowers who were late in making their payments by at least 30 days or more accounted for 3.1% of all outstanding mortgages in December, an increase of 0.1 percentage point from 3.0% recorded in December 2022. Seventeen states reported year-over-year increase in overall delinquency rate and 15 states had their rates remained unchanged from a year ago. Alaska and Oklahoma recorded the largest annual declines in December 2023. With fewer buyers overleveraging in recent years when purchasing their properties and home equity remaining on the rise, delinquency rate maintained its stability in the past couple of years. With home prices projected to increase in 2024 and the economy likely to experience a mild growth this year, delinquency rate could rise but is not expected to increase sharply in the next 12 months. 

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

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WHAT'S MY HOME WORTH?

For Sale

6544 Cerritos Ave.Long Beach 90805

2 Bed | 1 Bath | 1,198 SF | $735,000

 

Welcome to 6544 Cerritos Ave, a charming slice of Spanish-inspired architecture nestled in the heart of North Long Beach. This classic 2-bedroom, 1-bathroom home boasts timeless elegance coupled with modern upgrades, offering comfort and style.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

For Rent

12661 Martha Ann Dr.

Rossmoor 90720

4 Bed | 3.5 Bath | 2,221 SF | $6,000 / mo

 

Welcome Home - Located in the highly sought-after prestigious community of Rossmoor, Orange County. All elements throughout this 4 bedroom, 3.5 bath turn-key home come together to create a space that radiates contemporary style with modernist amenities.

In Escrow

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $645,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

2892 Walker Lee Dr.

Rossmoor 90720

5 Bed | 8 Bath | 6,041 SF | For Rent $15,000 / mo

 

Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

Recently Sold

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $720,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

8230 Santa InezBuena Park 90602

4 Bed | 2 Bath | 1,194 SF | $625,000

 

Beautifully remodeled end unit townhouse in Buena Park! 4 bedrooms, 2 baths with open floor plan, modern kitchen, and private backyard.

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

2059 W 160th St.

Torrance 90504

2 Bed | 1 Bath | 837 SF | $780,000

 

Discover Your Dream Home in North Torrance! This charming 2-bedroom home is nestled on a serene residential street, offering you a remarkable opportunity to own in this sought-after neighborhood with great schools.

781 W 30th St

San Pedro 90731

3 Bed | 2 Bath | 2,067 SF | $1,225,000

 

Stunning 3-bed, 2-bath home with breathtaking ocean views in Coastal San Pedro. Experience the beauty of the ocean from the front yard, primary bedroom, and the expansive backyard.

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SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

 

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

Feb. 29, 2024

Market Competitiveness Ramps Up As Inventory Remains Tight - Market Update for 3/1/2024

 A Modern Beach House_  private swimming pool _panoramic sky and sea view _ 3d rendering

After a dip in rates spurred a boost to housing in January, the recent increase back above 7% demonstrates that the rebound will be bumpy as pending sales cooled. Still, all signs indicate that buyers have begun to adjust to more normal rates than we enjoyed during the pandemic as several key indicators of market competitiveness describe a market that is heating up as the Spring homebuying season approaches. Still, other trends show that homebuyer demand remains more depressed than it should be and buyers would do well to consider the long-term benefits of homeownership (which are well documented) alongside their short-run concerns about the market.

 

Pending sales flat in February but holding on to recent gains: Pending home sales in January posted an even larger year-to-year gain than California enjoyed in closed sales last month. That suggests that the recent rebound in the market reported last week should continue through February and the first half of March. Much of the recent rise in closed sales has been driven by the top-end of the market, which is once again rising by double digits in the $1 million and up segments of the market. In addition, the rise has been fairly consistent in various parts of the state with more affordable and denser urban metros all showing similar improvements this year. Rates did reverse course this month, so the second half of March could see weaker activity, but thus far, interest rates have been trending mostly flat, albeit with significant volatility week to week.

 

Market competitiveness ramps up as inventory remains tight: The primary sign indicating that consumers have begun to adapt to the current rate environment is demonstrated by how competitive the market has gotten before the Spring homebuying season has even gotten underway. For example, days on market continues to drop as homes start to sell more quickly. Typically, the median time on market peaks in January each year and falls throughout the busy season. In 2023, the median time from the time a home hit the market and went pending peaked at 42 days. This year, it peaked at 36 days and has been falling for the past four weeks in a row to just 20 days last week. More homes selling above list price has been trending up and was almost half of all closed sales last week. 

 

New home sales on the uptick: Active listings at the state level dipped again on a year-over year basis for ten straight months, but the decline for the current month was the smallest. More importantly, new active listings at the state level increased from a year ago for the first time in 19 months and the annual increase was the largest since May 2022. Potential home sellers could hit the pause button on listing their house in the next few weeks though, as rates climbed back up to a two-month high late last week due to the latest inflation concerns. In general, rates are expected to decline later this year, and available inventory should slowly improve throughout 2024.

 

Rates come down slightly last week: Although the U.S. saw a very strong jobs report for January that drove a surge in both 10-year bons as well as 30-year mortgage rates a few weeks ago, the Freddie Mac reading on average consumer rates ticked back down from 6.9% last week to 6.77% this week. However, there has been a growing divergence between the Freddie Mac number and daily rates being quoted in the marketplace, which remain above 7% as we began the final week of February. Given the latest economic data, rates are not expected to drop as quickly and many forecasters no longer expect the Fed to begin cutting rates until the second half of the year. As such, some prospective homebuyers may opt to return to the market now and refinance later compared to when rates were expected to fall faster.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

For Rent

2892 Walker Lee Dr.

Rossmoor 90720

5 Bed | 8 Bath | 6,041 SF | $15,000 / mo

 

Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

12661 Martha Ann Dr.

Rossmoor 90720

4 Bed | 3.5 Bath | 2,221 SF | $6,000 / mo

 

Welcome Home - Located in the highly sought-after prestigious community of Rossmoor, Orange County. All elements throughout this 4 bedroom, 3.5 bath turn-key home come together to create a space that radiates contemporary style with modernist amenities.

In Escrow

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $645,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $699,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

 

Recently Sold

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,350,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

2059 W 160th St.

Torrance 90504

2 Bed | 1 Bath | 837 SF | $780,000

 

Discover Your Dream Home in North Torrance! This charming 2-bedroom home is nestled on a serene residential street, offering you a remarkable opportunity to own in this sought-after neighborhood with great schools.

781 W 30th St

San Pedro 90731

3 Bed | 2 Bath | 2,067 SF | $1,225,000

 

Stunning 3-bed, 2-bath home with breathtaking ocean views in Coastal San Pedro. Experience the beauty of the ocean from the front yard, primary bedroom, and the expansive backyard.

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SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

Feb. 22, 2024

California had a good start in 2024 - Market Update for 2/23/2024

3d rendering of modern cozy house with pool and parking for sale or rent in luxurious style and beautiful landscaping on background. Clear summer evening with cozy light from window

California had a good start in 2024 with both housing supply and buyer demand showing signs of improvement in January. While the market will likely face headwinds in the coming months as mortgage rates continue to fluctuate, the lending environment is expected to be more favorable in 2024. Rates will ease again as inflation stabilizes in the second quarter and the market could see more pent-up demand being converted into sales in the spring homebuying season.

 

California home sales kick off the new year with a positive note: January home sales in California reached the highest level in six months, with the statewide existing single-family home sales registering a year-over-year gain for the first time in 31 months. Pending sales at the state level also increased year-over-year for the first time since May 2021, signaling the possibility of a back-to-back annual increase in closed sales in February. With rates dropping sharply at the end of last year, many homebuyers on the sidelines reentered the market and pushed sales up a notch in the first month of 2024. While the increase in January was encouraging, sales were below the 300,000-unit threshold for the 16th straight month and will likely remain under that level in the first quarter. 

 

Median price dips from the prior month but registers another annual gain in January: The statewide median price of existing single-family homes dipped below the $800,000 benchmark for the first time in ten months but continued to record a modest year-over-year gain in January. All major regions except the Far North increased in their median price from a year ago at the start of 2024. Despite mortgage rates rising in the last few weeks, home prices should remain on their upward trend and continue to grow moderately from a year ago in the next couple of months as housing supply remains tight. 

 

Housing supply shows signs of improvement but headwinds remain: Active listings at the state level dipped again on a year-over year basis for ten straight months, but the decline for the current month was the smallest. More importantly, new active listings at the state level increased from a year ago for the first time in 19 months and the annual increase was the largest since May 2022. Potential home sellers could hit the pause button on listing their house in the next few weeks though, as rates climbed back up to a two-month high late last week due to the latest inflation concerns. In general, rates are expected to decline later this year, and available inventory should slowly improve throughout 2024.

 

Consumer inflation tops expectations again in January: Consumer prices rose from a year ago by 3.1% in January. While the number was a dip from the 3.4% gain in December, it was higher than the consensus forecast of 2.9%. The Core CPI – inflation excluding food and energy – was unchanged on an annual basis in January, with the index registering a 3.9% gain from 12 months ago, the same as what was recorded in December 2023. The index also came in higher than the 3.7% predicted by economists. Shelter costs remained stubbornly high, with its index increasing 6.0% year-over-year, and accounted for two-thirds of the monthly all items increase. With inflation remaining sticky and the January CPI data not giving the Fed any evidence that a slowdown in price pressures is broadening beyond goods, the odds of a rate cut in the March FOMC meeting are very slim.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

5372 Kenilworth Dr.

Huntington Beach 92649

4 Bed | 5 Bath | 2,293 SF | $1,650,000

 

Discover the allure of coastal living, nestled in Huntington Beach's prestigious 92649 ZIP code, mere steps from the ocean. This exquisite residence boasts a prime location that merges seamless accessibility to the Brightwater Trail with the tranquility of the Bolsa Chica Ecological Reserve right in your backyard. 

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

For Rent

2892 Walker Lee Dr.

Rossmoor 90720

5 Bed | 8 Bath | 6,041 SF | $15,000 / mo

 

Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

12661 Martha Ann Dr.

Rossmoor 90720

4 Bed | 3.5 Bath | 2,221 SF | $6,500 / mo

 

Welcome Home - Located in the highly sought-after prestigious community of Rossmoor, Orange County. All elements throughout this 4 bedroom, 3.5 bath turn-key home come together to create a space that radiates contemporary style with modernist amenities.

In Escrow

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $645,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $699,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

 

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,250,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

Recently Sold

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

2059 W 160th St.

Torrance 90504

2 Bed | 1 Bath | 837 SF | $780,000

 

Discover Your Dream Home in North Torrance! This charming 2-bedroom home is nestled on a serene residential street, offering you a remarkable opportunity to own in this sought-after neighborhood with great schools.

781 W 30th St

San Pedro 90731

3 Bed | 2 Bath | 2,067 SF | $1,225,000

 

Stunning 3-bed, 2-bath home with breathtaking ocean views in Coastal San Pedro. Experience the beauty of the ocean from the front yard, primary bedroom, and the expansive backyard.

Facebook  Twitter  Instagram  Linkedin  Youtube  

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

 

Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855

Feb. 15, 2024

Market Momentum Is Improving - Market Update for 2/16/2024

Asian family Happy Daughter pointing parents to look after her _ with child over house background.

Housing affordability continued to be an issue at the end of last year and will likely remain a challenge for many homebuyers in 2024. With rates expected to decline in the next 12 months, however, recent reports suggest that consumers are beginning to feel more positive about the current housing market conditions, and those on the sidelines could reenter the market if the economy remains healthy and rates continue their downward trend. Preliminary market data collected in the past few weeks also indicates that both sales and listings have been slowly improving since the end of 2023. If this market momentum continues, the California housing market could see an encouraging start for 2024.

 

Housing affordability remains at 16-year low in the fourth quarter of 2023: Housing affordability in California remained under pressure in the last quarter of 2023, with the statewide index for existing single-family homes remaining unchanged from the previous quarter at 15%. High prices, along with higher mortgage rates, pushed costs of borrowing up a notch at the end of 2023, ultimately keeping California affordability at the lowest level in 16 years for the second consecutive quarter. The monthly mortgage payment for a median-priced home (including taxes and insurance) inched up 0.7% from Q323 and jumped 11.2% from Q422, as the effective mortgage rate moved up 25 basis points (bps) quarter-to-quarter and increased 59 bps from a year ago to a 23-year high of 7.39% in Q423. A minimum annual income of $222,800 was required to make the monthly payment of $5,570 in the fourth quarter. With home prices expected to rise in 2024, affordability will remain low but could improve slightly if rates dip meaningfully in the next 12 months. 

 

Home purchase sentiment reaches highest level in nearly two years: Home Purchase Sentiment released by Fannie Mae rose again in January 2024, with the index increasing 3.5 points to 70.7 in the latest monthly read, the highest point since March 2022. The climb was due partly to the increase in consumer confidence in job security and partly due to the jump in the share of consumers who expected mortgage rates to decrease in the short term. Respondents expecting mortgage rates to go down in the next 12 months, in fact, reached an all-time high of 36% in January. Despite the optimism in rate movement, consumer perception on homebuying remained pessimistic, and the share who believed that it is a good time to buy stayed low at 17%, unchanged from the prior month. With affordability expected to improve slightly but remain low in coming quarters, home purchase sentiment could inch up in 2024 but the increase will be mild. 

 

Business leaders feeling more positive about the economy: CEO’s optimism about the current economic conditions has improved solidly at the beginning of the year compared to the previous quarter, according to the Conference Board Measure of CEO Confidence. The index surged to 53 in Q124 from 46 in Q423 and surpassed 50 for the first time since Q122. A reading of above 50 indicates that there were more positive than negative responses, a reflection of CEOs feeling more optimistic about their economic outlook. Nearly one-third (32%) of CEOs said that general economic conditions are better than they were six months ago, an increase from 18% reported in Q423. Close to two out of five (36%) in Q124 expected the economy to improve over the next six months, a jump from 19% in the prior quarter. When asked about the main U.S. challenge affecting their business this year, half of them cited “political uncertainty ahead of 2024 elections” as the greatest challenge. As for global challenges for their business in 2024, “the spread of existing wars” was cited the most at 46% by the respondents. There are economic opportunities in the year ahead as well, as “reduced inflation” (34%) and “the Fed interest rate cuts” (28%) were seen as the top U.S. developments that will benefit businesses this year. 

 

Short-term inflation expectations remain mostly stable: Consumers expectations on inflation a year from now were mostly unchanged in January, according to the latest New York Fed’s Survey of Consumer Expectations. At the one-year horizon, the median inflation expectation recorded a 3% in January, the same as what was reported in December 2023, but a sharp drop from 5% registered in January 2023. Two out of five (41.3%) of the respondents expected inflation to rise above 4% a year from now, while one out of four (24.5%) believed inflation should be between 2% to 4% in a year, and one out of three (34.1%) projected inflation to be below 2% a year out.

 

Construction spending gains momentum at the end of 2023: U.S. construction continued to expand as spending in December increased 0.9% month-over-month and jumped 13.9% year-over-year. Residential outlays played a big role in the overall gain, as construction spending in residential in the final month of the year went up 1.4% from the prior month and surged 6.8% from December 2022. With existing housing supply remaining tight and mortgage rates expected to trend down in the next 12 months, residential spending – single-family outlays in particular – should rise further as home builders continue to scale up production in 2024.

 

If you have any questions or would like personalized advice regarding the current market conditions, please feel free to reach out. Your success in real estate is my top priority.

 

Road in California

 

Looking To Move Out Of State? 

Save Thousands for Dollars With Our

Relocation Program

 

As a top agent with the #1 brokerage in North America, I have relationships with some of the top agents all over the country. I have recently helped some clients move to Tennessee, Arizona, Nevada, Montana, Texas, Florida, and other states with the help of my KW Relocation network of local experts to help them find their next dream home. My network of agents saved them thousands of dollars and reduced the time and hassle of finding a new home in another state.

 

If you or someone you know is looking to relocate to a new city or state, contact me to tap into the power of my network of experienced agents throughout North America. 

SEARCH HOMES FOR SALE

CONTACT ME

WHAT'S MY HOME WORTH?

For Sale

5372 Kenilworth Dr.

Huntington Beach 92649

4 Bed | 5 Bath | 2,293 SF | $1,650,000

 

Discover the allure of coastal living, nestled in Huntington Beach's prestigious 92649 ZIP code, mere steps from the ocean. This exquisite residence boasts a prime location that merges seamless accessibility to the Brightwater Trail with the tranquility of the Bolsa Chica Ecological Reserve right in your backyard. 

14715 Bellflower Blvd.

Bellflower 90706

2 Bed | 1 Bath | 805 SF | $645,000

 

Welcome to your ideal starter home located in the heart of Bellflower! With its proximity to local amenities and welcoming neighborhood, this home is a must-see on your home-buying journey.

837 Chestnut Ave. #12

Long Beach 90813

1 Bed | 1 Bath | 611 SF | $320,000

 

Step into this wonderful top-floor unit boasting an open floor plan in a mid-century style building. This property presents a unique opportunity to own a fantastic rental or a charming coastal condo just moments away from the beach.

For Rent

2892 Walker Lee Dr.

Rossmoor 90720

5 Bed | 8 Bath | 6,041 SF | $15,000 / mo

 

Welcome home to perfection in this one-of-a-kind home in the highly sought after community of Rossmoor. Breathtaking elegance is evident upon arrival & deepens with the discovery of each exquisitely unique space, feature & divine amenity.  

12661 Martha Ann Dr.

Rossmoor 90720

4 Bed | 3.5 Bath | 2,221 SF | $6,500 / mo

 

Welcome Home - Located in the highly sought-after prestigious community of Rossmoor, Orange County. All elements throughout this 4 bedroom, 3.5 bath turn-key home come together to create a space that radiates contemporary style with modernist amenities.

In Escrow

8738 Belmont St.

Bellflower 90706

3 Bed | 2 Bath | 1,276 SF | $699,000

 

An incredible opportunity awaits with this charming 3-bed, 2-bath single family home. Set on a spacious 7,004 sq ft lot, that beckons with endless possibilities for entertaining or even possibly adding an ADU. 

 

3825 Linden Ave. 

Long Beach 90807

3 Bed | 2 Bath | 2,142 SF | $1,250,000

 

Charming 1933 Spanish Stucco with many original features. This single story home is situated on one of the prettiest streets, walking distance to to both Atlantic Avenue and Long Beach Blvd. 

2512 W Beachy Pl 

Anaheim 92804

3 Bed | 2 Bath | 1,695 SF | $875,000

 

Embrace the charm of this lovingly maintained single-story home, cherished by the same family for over 50 years. Nestled on an expansive 10,948 sq ft lot, this property beckons with endless possibilities – from adding an ADU, a pool, more living space, or just simply reveling in the serene, park-like ambiance.

Recently Sold

2174 Stanbridge Ave

Long Beach 90815

3 Bed | 2 Bath | 1,489 SF | $905,000

 

Nestled in coveted Los Altos... known for being pet & people friendly with awesome schools, parks, walkability & more! This immaculate & inviting 3 bedroom/2 bath home with its upgraded kitchen, baths, living room as well as spacious family room will go fast!

807 Delaware St

Huntington Beach 92648

4 Bed | 5 Bath | 3,237 SF | $2,605,000

 

Tesoro Builders has created another extraordinary opportunity to own a brand new, custom designed single-family home in the heart of highly coveted downtown Huntington Beach. The epitome luxury living offers an exceptional beach lifestyle.

5417 Bonfair Ave

Lakewood 90712

4 Bed | 2 Bath | 1,746 SF | $950,000

 

Welcome to this recently updated 4 bedroom, 2 bath two story home located in the heart of Lakewood.

251 Elm Ave. 

Long Beach 90802

2 Bed+Den | 3.5 Bath | 1,750 SF | $915,000

 

This exceptional modern townhome at The Huxton built in 2018 boasts 2 bedrooms, a den/great room, and 4 baths spanning 1,750 square feet. The large rooftop deck off the top-floor den/great room provides an exceptional indoor/outdoor living experience.

2059 W 160th St.

Torrance 90504

2 Bed | 1 Bath | 837 SF | $780,000

 

Discover Your Dream Home in North Torrance! This charming 2-bedroom home is nestled on a serene residential street, offering you a remarkable opportunity to own in this sought-after neighborhood with great schools.

781 W 30th St

San Pedro 90731

3 Bed | 2 Bath | 2,067 SF | $1,225,000

 

Stunning 3-bed, 2-bath home with breathtaking ocean views in Coastal San Pedro. Experience the beauty of the ocean from the front yard, primary bedroom, and the expansive backyard.

773 W 30th St

San Pedro 90731

3 Bed | 2 Bath | 1,040 SF | $955,000

 

Enjoy beautiful ocean and harbor views from the front yard, living room, and the expansive backyard. This 3-bed, 2-bath home offers even more possibilities with an additional enclosed patio area currently staged as a family room and game room.

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Tim Majka

(562) 900-9430

www.ImagineRealty.com

 

DRE #01399855