May 11, 2021

The Top 5 Reasons People Are Moving

Here are the top five reasons people are moving this season.

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Today’s sellers are moving for a variety of reasons, and the health crisis has truly reshaped our lifestyles and needs. Spending extra time where we currently live is allowing people to reevaluate what homeownership means. Here are what I believe to be the top reasons people are reconsidering where they live and making moves this season (in no order of importance):

1. Working from home. Remote work is the new norm, and this trend has continued a lot longer than what was expected. Many in the workforce have discovered that they don’t need to live so close to their offices. They’re also discovering that they can get more for their money by moving farther away from cities—some have even left their states completely. If you’ve tried converting a guest room or dining room into a home office with minimal success, it might be time to find a house that’s more suitable for you. The reality is that your current house may not be optimally designed for your lifestyle, thus making remote work very challenging.

2. Virtual and hybrid schooling. A lot of school districts are adopting this model and converting their curriculums into a digital format. If you have school-age children, they may need a dedicated learning space. If so, it may be time to find a larger house to provide your children with a quiet room that allows them to focus on their schoolwork just like you probably need for your home office.

 

 

      If you’re clamoring for more room to accommodate your changing needs, moving may be your best option.

 

 

3. Home gyms. Staying active and healthy is a top priority for so many people. With various levels of concern regarding the safety of returning to fitness facilities, dreams of a space for a home gym have grown stronger than ever. Keep in mind, a significant decrease in physical activity is more than just a vanity issue—it’s also a mental health issue. Having room to maintain a healthy lifestyle at home, both mentally and physically, may prompt you to consider finding a new place to live that includes space for home workouts.

4. Outdoor space. In helping 76 families move last year, I’ve found that many homeowners have the desire for more usable exterior features. For example, some think having a yard encourages them to be more active. Some want a large backyard to spend more time with their family. Others want space for outdoor entertainment. I’ve even heard of people who want more outdoor space to grow gardens and create more of a daily farm-to-table experience.

5. Moving out of state. For the last five years, California has been among the top states people are moving out of, and last year saw more migration than ever. High taxes, a high cost of living, and even politics are prompting people to move away from California. Because I network with hundreds of top agents throughout the country, I’ve been able to connect the dots for a plethora of home seller clients in many states, and I can do the same for you. Call, text, or email me, and I’d be happy to connect you to a professional in any part of the country.

So, are you living in your dream home? Are you living in a home that accommodates all your needs? If you’re clamoring for more room to accommodate your changing needs, moving may be your best option. You can take advantage of today’s high sales prices and low mortgage rates. It’s a great time to get more home for your money, just when you need it most.

If you need help deciding whether now’s the time for you to upgrade to a new home or have any other real estate needs, don’t hesitate to reach out to me. I’d love to discuss your options and take it from there.

April 27, 2021

Why the Agent You Choose Matters

Here’s why the real estate agent you choose to work with matters so much.

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Today I’m standing in front of one of our listings that just went under contract. We had over 130 people walk through the home, but something interesting happened while I was conducting these showings. More than half of the buyers who showed up had no idea who their real estate agent was, and some agents also didn’t know who their clients were. Almost every Realtor we saw also didn’t know anything about the property; they came looking for me to give them information to take back to their clients.

Who you work with to buy or sell a house matters enormously. There are some excellent agents in our area, and I was fortunate enough to see some of them show up to see this listing; we talked, they knew what they were doing, and they knew what to expect. It’s currently a very chaotic time in our real estate market, but things are in a frenzy because a slew of Realtors don’t know what they’re doing. As a consumer, you think that agents are pros and should be able to help you, but just because they’re licensed doesn’t mean they know what’s needed to assist you in this market.

 

 

      Who you work with to buy or sell a house matters enormously.

 

 

As a buyer, ensure your Realtor knows the market and the home you’re going to see. More importantly, they should know about you and your goals because that’s the cement that will help your deal come together smoothly. Many buyers are making offer after offer and nothing’s working out, and often it’s because of who they’re working with. We professionals know the market we’re in, how to prepare, and set the right expectations for our clients to be successful.

If you’re a seller, make sure you’re working with a professional who understands the market dynamics. Ensure they aren’t simply telling you what you want to hear or what you already know from researching by yourself. If your Realtor gives you the same exact value of your home that you saw online, they just looked online the same way you did—they didn’t put any work into it. They need to base that on today’s market trends and your property’s features and amenities. If they aren’t speaking in those terms, there’s a good chance they don’t have much experience, and they’ll be practicing on your home, which could cost you tens of thousands of dollars.

I have 22+ years of experience and have sold close to 1,000 houses, so I have the experience to help my clients in this insane market. Ensure you’re working with a pro, not a random agent from Zillow or Redfin or some other free website. Do yourself a favor and talk to a professional when the time comes to buy or sell.

If you have questions or ever need anything real estate-related, you can call or text me. I would love to help you.

April 12, 2021

Why Now Is Prime Selling Season

To sell or not to sell right now? That is the question we’ll answer today.

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Whether you’re looking to move up or downsize, here’s the complete breakdown on supply and demand and why the imbalance between the two in this market makes right now the peak time to sell:

1. High buyer demand. Buyer demand is stronger now than we’ve ever seen. I track the number of buyers that come through our properties for showings, and that number is up by 65% over last year. This will likely continue into the busier parts of the spring and summer until the supply begins to catch up with the demand.

2. Inventory remains incredibly low. There are so few homes for sale currently that the market is simply running out of supply—we just can’t keep up with the demand. Even as the number of home sales skyrockets, inventory just continues to drop. At the same time, new construction home builders are increasing their output this year, but even they can’t keep up with the growing demand.

 

 

      Don’t wait for your competition to enter the market before you decide to act.

 

 

So what does this mean for sellers? Well if you’re thinking about putting your home on the market, don’t wait. As a homeowner, you’re in the absolute best negotiating position when demand is high and supply is low. Compound that with our extremely low interest rates, and you have a perfect storm for sellers.

Hopefully, as 2021 progresses and the pandemic subsides, more homes will come onto the market, but don’t wait for your competition to enter the market before you decide to act. If you list now, you can get an incredible price for your home, and sell it in record time.

If you’ve been thinking of selling your home or have any questions, reach out to me. Let’s discuss your real estate goals and form a plan to get you to the next stage of your life.

Posted in Selling Your Home
March 29, 2021

The Story Behind Our Unbelievable Market

Buyers and sellers can win in this market. Here’s why.

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What’s happening in our real estate market as we emerge from the first quarter of 2021?

Inventory levels are extremely low, and we’ve been on a hot seller’s streak since about June of last year. We’re also seeing incredible demand along with historically low interest rates, and these three ingredients have given us an unbelievable market.

Where’s all this demand coming from? Three demographics keep showing up more and more. The first is the local population who’ve been stuck in their homes for a solid 12 months. Prior to the 2020 shutdown, people had been so busy that they never took the time to evaluate their current homes. Now, they’re deciding they need an office, school room, pool, sports court, outdoor entertaining area, etc. They need something different. They need a new house.

The second demographic is people moving from dense cities. For our area, this means LA and northern California. I’ve never seen so many people from these regions come our way, and a lot of them are looking for more space. The last demographic is a combination of people from all over the country and outside of the U.S.

 

 

      I believe we’ll continue to see low inventory, which will fuel high demand.

 

 

Think for a moment about this whole paradigm shift revolving around how people want to live in their homes. People are saying to themselves, “I’ve lived in a condo/high-rise/mountain home, and now I want more space.” Some want their own compound; others want to be closer to the ocean. If there’s anything positive that COVID has brought us, it’s the increase of people who want to live with their families and enjoy the memories they’re creating. If you’re looking to move, my recommendation is to not wait. Now is the time to live your best life. Find the house that checks all the boxes and fulfills every requirement of you and your family.

What do I anticipate for the rest of 2021? Based on my experience listing and selling homes daily and studying the market, I believe we’ll continue to see low inventory, which will fuel high demand. Interest rates will bounce around in the 3% range (which is still historically low), so buyers and sellers will continue to win. I also believe we’ll see one of the best pricing years for sellers that we’ve ever seen.

If you’re thinking of selling in 2021 and want to craft a genuine strategy, get in touch with me so we can discuss your goals. I look forward to speaking with you soon.

Posted in Real Estate News
March 9, 2021

Are You a Millennial?

If you’re a millennial considering buying, it may be a fantastic time.

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Millennials: Is it time to buy a larger home? I’ve had the good fortune to work with multiple generations: the silent generation, baby boomers, Generation X, and millennials. In today’s real estate market, all eyes are on millennials. Not just because they’re the largest generation, but also because they’re between the ages of 25 and 40, and these are commonly considered the prime years when people form households and invest in real estate.

If you’re like most people who are spending much more time at home these days, you may have an increasing need for more space, upgraded features, a bigger yard, or something else. For those of you who already own a house, there’s an excellent opportunity to move up in 2021. In 2020 I helped many millennials buy their first home or move up. I ran the numbers, and 90% of the houses I listed last year were bought by millennials.

 

 

      In today’s real estate market, all eyes are on millennials.

 

 

Even if you’ve bought a home sometime in the last few years, you may have more equity than you realize right now. Equity is a huge factor to consider when thinking about moving because as equity builds over time, you can put it toward the down payment of your next house. Housing affordability is through the roof right now, and it’s powered by record-low mortgage rates.

If you’re a millennial contemplating moving in 2021, you’re not alone. Let’s connect to shed some light on your equity or discuss your opportunities in the market. Call or text me; our conversation might be the best one of your day.

Posted in Buying a Home
Feb. 24, 2021

Your Latest Market Update

Here’s an update on our fast-moving real estate market.

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Do you like ice cream? As you may or may not be aware, there are lines out the door at Baskin Robbins locations everywhere on seven specific days each year. Normally, a scoop of ice cream costs $2.79. However, when the 31st rolls around, the price drops to $1.70—a 40% savings—and sweet-toothed patrons rush to take advantage of it. For a family with a bunch of kids, the 31st is the day to make a trip to Baskin Robbins for a scoop of happiness. Sure, your mouth is probably watering now, but what does this have to do with real estate?

When a commodity drops to a price that’s too good to pass up, everybody flocks to it. This is precisely what’s occurring in the housing market. It’s not that home values have dropped 40%, though. Instead, buyers are coming out in droves to lock in historically low mortgage rates.

If you’ve been pondering a home sale, this is your time to shine; use this sky-high demand to maximize your home sale while the window is still open. I’ve spent 21 years helping families with their real estate decisions, so trust me when I tell you that the market will readjust like it always does. Waiting is not an option. Here’s an example to show that this demand is authentic:

Purchasing a $700,000 home at last year’s rate of 3.6% would have equaled out to a monthly mortgage payment of $3,100. With today’s rate of 2.77%, the payment on that same home would drop to $2,800—a $300 savings each month! When comparing these floor-scraping rates to November 2018, when rates nearly hit 5%, the savings jump to $893 per month. The best part? It’s not a one-time savings. Every single month for 30 years, buyers will be benefiting.

 

 

      It’s not a one-time savings. Every single month for 30 years, buyers will be benefiting.

 

 

Our current market presents a rare opportunity for both buyers and sellers to win big. That said, there’s almost too much demand in our market; our supply of available homes for sale just can’t keep up. In each of the 30 cities we cover, we’re seeing the lowest number of homes for sale since 2004. As a result, homes are getting into escrow almost as soon as they hit the market. My listings are selling within just two to three weeks.

Now, notice how I didn’t say “selling within zero to seven days.” Here’s why: If a home is selling in a matter of days or doesn’t even make it market, I guarantee that it’s because money was left on the table. A truly top dollar sale will always take a certain amount of time. If you’re trying to net the most money in this busy market, you’ll want to call me to find out exactly what I mean by that. I’ll help you avoid a costly mistake that’s sadly becoming more prevalent in our market.

Anyways, back to the market update. With exceptionally high demand, our market is unbelievably hot. Buyers: Keep the pedal to the metal and don’t give up. Sellers: With this lightning-fast market moving in your favor, waiting is not an option. Who you work with to buy or sell a home matters more than it ever has before.

If you know a friend, family member, neighbor, or co-worker who could use my expertise in real estate, please call or text me today. If you’d like to hear more about what’s going on in your specific city, I’m also here to be a go-to resource. It’s my pleasure to help families get their own “scoop of happiness.”

Posted in Market Update
Jan. 19, 2021

Back to the Basics of Excellence

Here’s how we at the Frank Del Rio Team embraced 2020’s challenges.

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2020 was not what anybody expected. It was a reminder to us all that, though there’s a lot out there we can’t control, one thing always remains within your power: the work we choose to put in every single day. I don’t just mean career-wise, either. We need to put in the work to make our lives better, improve our health, take care of our families, strengthen our relationships, and brighten our communities. When you control the work that you do, the rest will take care of itself. Today I’m recapping the Frank Del Rio Team’s year and explaining how we were able to still sell homes for more than fair market value while remaining safe during COVID-19.

Cited below for your convenience are timestamps that will direct you to various points in the video. Feel free to watch the full message or use these timestamps to skip to topics that interest you most:

0:35 — How our goals for 2020 were put to the test, and how we triumphed over uncertainty

1:15 — Navigating fears and emotions amid the pandemic: the Miller family’s story

2:32 — We created a brand-new marketing strategy on the fly

3:19 — Adjusting from spectacular VIP buyer parties to spectacular 3D experience tours

4:02 — Beyond traditional videos, we added in-depth showcases and “sneak peaks”

5:11 — The fruits of our labor: 38 homes sold and $29 million in sales

Thank you to those of you who took the giant leap of faith with me in 2020, and thank you to the Big Man upstairs for making it possible for me. I can’t tell you what’s going to happen for real estate in this new year, but I can promise that if your goal is to sell your home this year, I’ll put in nothing but my best work to get it done for you. Give me a call or send an email my way; I’d love to get the conversation started today!

Posted in Market Update
Sept. 23, 2020

Q: What’s the Latest Update on the Local Housing Market?

Here’s what our market conditions look like as we transition into the fall season.

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Depending on where you’re getting your real estate information, you could be hearing two opposing arguments about the market: 1) the market is going bananas and sellers are making money hand-over-fist, or 2) buyers can’t find any homes on the market, sellers are having a hard time selling, and it’s hard to get qualified for loans.

The truth is that, for the first time in 21 years, we’ve had the best of both worlds. Ours is both a buyer’s and a seller’s market.

In a seller’s market, there are a lot of buyers and a little demand. However, we also have low interest rates and a decent number of homes, so it’s also a buyers market. Rates are currently below 3%, and inventory in select markets and prices is very low. Our marketplace is very detailed to the city and price point—no two cities are performing the same. Real estate is always local.

We have been fortunate enough in the last six months since the stay-at-home orders were put in place to have sold 22 properties. I’ve found that because I never took my foot off the gas, so to speak, our business was still moving forward. Sellers needed to sell and buyers needed to buy, so we had to find ways to deliver our product in a completely innovative way.

 

 

      Now is a great time for those who are thinking of buying or selling.

 

 

With the innovation we created in terms of marketing our homes, we have been outperforming market value, and more importantly, outperforming the average Realtor who is putting a home up for sale. We’ve been selling properties anywhere from $10,000 to $75,000 over asking price. That’s huge!

Mind you, I’m not selling homes within just a day of putting them on the market. If a home sits on the market for a very short time before it sells, that means there was money left on the table.

Don’t let the aggressive urgency of selling the home quickly mislead you into thinking that you’ve received more money. If you’re on the market a little longer, you can use that to your advantage. Rates are so low that the right buyer will present themselves and make an offer you didn’t even anticipate.

The bottom line is that now is a great time for those who are thinking of buying or selling. If you’re planning to stay put, it’s also an opportune time to consider refinancing your home with our sub-3% rates. They’re not going to stay like this forever; remember, this is an election year.

I would love the opportunity to help you or someone you know buy or sell real estate or just to be your real estate resource. Reach out and give us a call! We look forward to hearing from you soon.

Posted in Market Update
April 3, 2020

What the Coronavirus Really Means for Real Estate


Here’s a quick rundown of how the coronavirus has really impacted real estate.

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There’s a lot of conflicting information out there about what you can and can’t do in real estate right now, so today I’ll set the record straight. If you believe some of what you see on TV or social media, you might think Realtors are concerned about COVID-19 because it prevents them from selling houses or doing any business at all, and that’s far from the truth. The federal government has deemed real estate an essential service, and there’s a good reason why.

 

If you have any questions about what I discussed in this video, or if you’re interested in buying or selling a home soon but aren’t sure how to proceed in these times, reach out to us. We’re always here to help and look forward to touching base with you.

Feb. 10, 2020

2010 to 2019: A Decade In Review


Here’s our review of the last decade in real estate, covering the years between 2010 and 2019.

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Some people have called the years between 2010 and 2019 the Redemption Decade, which seems fitting; after all, we did rebound from the destruction of the Great Recession of 2007, 2008, and 2009.

By all accounts, these last 10 years were an amazing decade for real estate. Homeowners saw prices go from the bottom of the market in 2010 back up to the peak prices we saw in 2006 for the last few years. It’s been so great that many people you know might have become real estate agents since then.

So what factors caused our market to rebound, and where are we headed in the coming decade? I broke them down into three primary factors:

1. Supply and demand. Buyers and sellers saw low inventory between the investors and the hedge fund groups who bought up all the foreclosures and short sales in bulk from 2009 to 2011. This left the market with a scarce supply of homes.

2. Low interest rates. Rates went down into the lower threes and for a short time, money became incredibly cheap to borrow on a home loan.

3. Economic improvement. People began to make more money and their confidence increased to the point where we had more buyers coming into the market than we had homes available. As a result, market prices went up until August of 2018.

 

 

      2020 is shaping up to be a stellar year for everyone in real estate.

 

 

It was in August 2018 that we saw the market change: Interest rates went into the high fours and low fives, sales flatlined, inventory started to rise, and price corrections were rampant. These trends lasted for about a year and a half in select cities and price points.

Now that we’re here in 2020, people have been wondering whether home prices will go down as they did in 2008.

In short, no—that’s all fake news. The truth is that after 2009’s mortgage meltdown, banks became very tight with their guidelines regarding who could qualify for a loan. Those changes were so tight that we won’t see a significant downward trend in home prices at this time. The lion’s share of the homes bought in the last 10 years were purchased with significant money down, very conservative loan programs, and more homeowners today have a more serious equity position in their homes than they have over the last decade.

Here’s the icing on the cake: Interest rates are currently back down to around 3%, and buyers now have 10% to 12% more buying power than they did just a year and a half ago.

Whether you need to sell or buy, 2020 is shaping up to be a stellar year for everyone in real estate. We helped a huge number of families buy, sell, upgrade, and move over the past decade, ultimately helping them enjoy a better quality of life through real estate. Our goal is to continue that tradition in the coming decade, as well.

If you’re thinking about selling your home, there’s no one better than us to help you get it done. We have the marketing strategy, expertise, and knowledge to not only sell your home but also to get you a lot more money than the average Realtor could. Don’t hesitate to give us a call, shoot a text, or send an email. Let’s grab a cup of coffee and decide together what the best plan for you will be moving forward in 2020.

Posted in Market Update