According to Bankrate, U.S. home insurance premiums are up an average of 23% in 2024. 😧
But, you can still save on rates if you’re strategic. Here are a few of our top tips:
🛍️
Shop Around
We recommend that you review at least three estimates while taking into account
any differences in the policy terms.
💸
Increase Your Deductible
According to Nerdwallet, raising your deductible from $1,000 to $2,500, for example, could save you an average of 11% each year.
🔨
Make Strategic Home Improvements
Some projects—like updating your electrical system—can reduce your rates by
making your home safer or less prone to damage.
Check out our blog post for even more ways to save on home insurance!
Posted 4/8/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: The Temperature of the Market is now available, and we thought you might find it valuable.
In this report, you'll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you're buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
· Comparing today’s inventory and demand levels to prior years reveals the accurate temperature and trends of the current market.
· Low Inventory and Demand: Even with low demand, the low inventory has paved the way for a very hot Spring Market.
· Active Listings: The active inventory decreased by 3% in the past couple of weeks.
· Demand: Demand increased by 5% in the past couple of weeks
· Luxury End: The luxury market improved in the past couple of weeks.
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@PlatinumEdgeProp.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
The Wright Team…For All Your Real Estate Needs!!
Posted 3/20/24
Information provided by Steven Thomas, Local Economist
As your dedicated real estate agents, we wanted to provide you with the latest insights into the Orange County housing market. The OC Housing Report: A Climbing Inventory is now available, and we thought you might find it valuable.
In this report, you'll find detailed information about market trends, including median home prices, inventory levels, and the latest sales data. Understanding these trends can help you make informed decisions whether you're buying, selling, or investing in real estate.
We wanted to first share a quick snapshot of the report:
Due to posting restrictions, we can’t share it here, but for the full report and expert insights, email us at Info@PlatinumEdgeProp.com for your copy.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
The Wright Team…For All Your Real Estate Needs!!
Is your home feeling like more than you can manage in your current stage of life? It might be time to think about downsizing.
But to make the most of your move, you’ll need to consider more than just square footage. Here’s what to keep in mind:
🏠 Lifestyle: Are there hobbies you want to pursue in your new home? Do you want to be close to friends and family? Think about your ideal lifestyle and how your home can support it.
🏠 Design: Small doesn’t have to mean cramped. Look for a home that’s designed to maximize storage space, natural light, and functionality.
🏠 Long-term accessibility: If you hope to age in your new home, look for features like single-story living and proximity to high-quality healthcare.
Want more downsizing tips? Check out our latest blog post in link below. Ready to start the next chapter, call The Wright Team at 949-770-9888 to discuss our expert real estate services.
🏠📊 Exciting news! As your trusted real estate team, we're offering a free copy of the latest housing market report! Stay informed about the latest trends and insights. Give us a call at 949.770.9888 or send us your email address to Info@PlatinumEdgeProp.com, and we'll send it right over! 📈
Posted 2/21/24
Information provided by Steven Thomas, Local Economist
Orange County Housing Report: The Rate Migration
Mortgage rates have crept their way back above 7%
with hotter than expected economic readings, resulting in a slowdown in
purchase activity.
The 7% mortgage rate is a psychological barrier to the housing market.
Active Listings
The active inventory was flat in the past couple of weeks.
Demand
Demand increased by 8% in the past couple of weeks.
Luxury End
The luxury market has improved dramatically in the past couple of weeks.
Click to view for a Snap Shot of the current OC Housing Report: The Rate Migration (Due to Posting Restrictions, To View the Full Report Email Us at Info@PlatinumEdgeProp.com or Call 949.770.9888 for a FREE Copy of the Report)
Posted 1/25/24
Information provided by Steven Thomas, Local Economist
Orange County Housing Report: A Red-Hot Winter
Now that the holidays are over, it is time for housing to shift to the Winter Housing Market, when the inventory is flat, demand rises, and the pace of the market rapidly heats up.
Winter Housing Market
Mixing a chronically low inventory with rising demand has always resulted in a much hotter housing market as winter progresses.
Active Listings
The active inventory increased by 6% in the past couple of weeks.
Demand
Demand skyrocketed higher by 17% in the past couple of weeks.
Luxury End
The luxury market improved in the past couple of weeks.
Click on link to view Snap Shot of the current OC Housing Report: A Red-Hot Winter (Due to Posting Restrictions, To View the Full Report Email Us at Info@PlatinumEdgeProp.com or Call 949.770.9888 for a FREE Copy of the Report)
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
Posted 1/15/24
Information provided by Steven Thomas, Local Economist
Orange County Housing Report: A Powerful Beginning
Unlike the sluggish start to 2023, this year’s housing market has kicked off with a scarcity of homes available and a much faster pace.
The 2024 Start
With the second-fewest homes to start a year since tracking began in 2004, the Orange County housing market is already hotter than pre-COVID years.
ATTENTION BUYERS: Waiting for the market to slow and negotiations to line up in a buyer's favor is not the answer. For the market to lean in favor of buyers, there needs to be considerably more homes available to purchase compared to weak demand. Unfortunately, there is a chronic scarcity of homes with FOR-SALE signs in the yard. This will not suddenly change anytime soon based on all current trends. With mortgage rates anticipated to drop further this year, there will be increased buyer competition with increased home affordability. Yes, more homes will opt to sell as rates drop, but the more robust demand will offset any increase. Instead, buyers should pursue a purchase with patience and steadfast determination. It may take several offers to find success, but it is that kind of persistence that is ultimately rewarded with the keys to a new home.
ATTENTION SELLERS: Take advantage of the hotter market by pricing a home close to the last comparable or pending sale. Careful pricing will allow a seller to tap into all the buyers waiting for every home that hits the market. A realistic price will allow a seller to attract immediate interest. Sellers who stretch the asking price too much and grossly overpriced will result in wasted market time and less activity as the price is adjusted down the road. In this market, it is best to take advantage of the buyer pool that is carefully watching and waiting for every new home that matches their search.
Active Listings: The active inventory dropped by 4% in the past couple of weeks.
Demand: Demand plunged by another 18% in the past couple of weeks.
Luxury End: The luxury market has not changed much in the past couple of weeks.
If you or if you have a friend or family member that is thinking of buying or selling real estate, please contact The Wright Team at 949.770.9888 with their name and number and we will be happy to follow up with them!
The Wright Team…For All Your Real Estate Needs!!