Mo Hadid

California REALTOR®

Archives for July 2022

Happy August!

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Happy August!

There are so many fun things to do in Sacramento, CA. Keep reading for some fun events happening this August.

Citrus Heights National Night Out 2022

When: August 2, 2022

Where: C-Bar-C Park Picnic Area, 8275 Oak Ave, Citrus Heights, CA 95610, USA

“National Night Out enhances the relationship between neighbors and law enforcement while bringing back a true sense of community. Furthermore, it provides a great opportunity to bring police and neighbors together under positive circumstances. Sponsored by CHASEN Neighborhood Areas 7-8-9 and Sunrise Ranch Area 6. Join us for FREE Hot Dogs, Hamburgers, Chips, Drinks, Dessert Pot Luck, Games and Kids Activities.” Learn more here.

 

Monster Jam

When: August 5-7, 2022

Where: Golden 1 Center

“The fun begins at the Monster Jam® Pit Party where you can see the massive trucks up close, meet your favorite drivers and crews, get autographs, take pictures and enjoy many other family-friendly activities. This unique experience is the only place where you can get up close access to the Monster Jam teams. Plus, get an insider’s look at how these trucks are built to stand up to the competition. This. Is. Monster Jam.® Activities and health and safety protocols are based on the event, venue, and local authorities’ guidelines, which are subject to change at any time.” Learn more here.

 

Annual Folsom Peach Festival

When: August 7, 2022

Where: 905 Leidesdorff St Folsom, CA 95630

“This annual favorite is back. Peach centric games, peach dessert contests, peach eating contest, peachy beer and wine tasting, loads of peaches and live music! Great fun for the whole family. Located in the plaza of Historic Folsom near the railroad round table.” Learn more here.

 

Celebrate Oak Park

When: August 13, 2022

Where: McClatchy Park
3500 5th Avenue, Sacramento, CA 95817

“Join your neighbors to celebrate the rich culture of Oak Park and connect with services in the community. There will be fun activities for the whole family, from Electric Vehicle riding, to a STEAM Kids Zone, resources, and more! There will also be free BBQ and Ice Cream to enjoy. The STEAM Zone will feature interactive displays and activities created by area universities, community partners, and local businesses to engage children of all ages in science, technology, engineering, and mathematics.” Learn more here.

 

Sacramento Antique Faire

When: August 14, 2022

Where: 1 Sports Parkway, Sacramento, CA 95834

“300+ vendors from California, Nevada, and other neighboring states selling antiques, collectibles, and vintage goods that are 20 years old and older. This includes clothing, military, art, jewelry, lighting, glassware, silver, toys, furniture, farmhouse, mid-century, and so much more!” Learn more here.

 

Sacramento Republic FC vs. Colorado Springs Switchbacks FC

When: August 17, 2o22

Where: Heart Health Park, 1600 Exposition Blvd Sacramento,CA

“Sacramento Republic FC faces off against Colorado Springs Switchbacks FC.Price: $15+
8:00 pm kickoff
Promo: *White Claw Wednesday” Get Tickets here.

 

Best of Sacramento Party

When: August 18, 2022

Where: 985 Riverfront Street West Sacramento, CA 95691

“We’re excited to resume one of Sacramento’s most-recognized parties after a two-year hiatus with a new location. It happens Thursday, Aug. 18, 2022 from 5:30–9:30 p.m. A portion of ticket sales will be donated to the local chapter of Make-A-Wish. This year’s soiree will be a food, beer, wine and craft spirits festival with a new look and feel. We’ll party along the river with a backdrop of Sacramento landmarks.” Learn more here.

 

Banana Festival

When: August 20-21, 2022

Where: Green Village
E Park Road, Sacramento, CA 95822

“A weekend full of banana foods, music, art, health, and family fun! Sacramento’s 11th Annual Banana Festival Banana Beach Bash is back. Bring your beach blanket and ball for an amazing time! The festival is a multicultural event celebrating cultures in Asia, Africa, and the Americas that use the banana as a source of food, art, and culture. Proceeds from the Banana Festival support the National Academic Youth Corps, a non-profit organization that does business with the Sojourner Truth Museum.” Learn more here.

 

The Great American Stamp Show

When: August 25-28, 2022

Where: SAFE Credit Union Convention Center

“The Great American Stamp Show (GASS) is the largest national postage stamp show in the country. The show is co-hosted by the American Philatelic Society, American Topical Association and the American First Day Cover Society. The free event is co-sponsored by the United States Postal Service who will also have a large retail presence and host a first day of issue during the show. Whether you are a new or experienced collector, the Great American Stamp Show packs four days of philatelic fun for the whole family.” Learn more here.

 

Midtown Farmers Market

When: Every Saturday, 9:00 am – 1:00 pm

Where: 20th Street between J & L streets and K Street between 19th and 21st streets

“Owned by the Midtown Association, this free, family-friendly market takes place year-round, every Saturday, on 20th street between J and L streets and on K Street between 19th and 21st streets. The Midtown Farmers Market showcases local agriculture, prepared foods, and artisans and crafters while providing an opportunity for Midtown residents and business owners to discover regionally grown foods.” Learn more here.

 

Historic Folsom Farmers Market

When: Every Saturday, 8 am-1 pm

Where: 905 Leidesdorff St Folsom, CA 95630

“Join us on the plaza every week for our award winning Farmers Market! Enjoy fresh fruit and vegetables and buy directly from the farmers. Enjoy live music while you shop the huge variety of vendors. This year-round market is held rain or shine. High winds, heavy rain or lighting will cancel the market.” Learn more here.

*Events are subjected to change*

Will Home Appreciation Continue?

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What’s Causing Ongoing Home Price Appreciation?

If you’re thinking about making a move, you probably want to know what’s going to happen to home prices for the rest of the year. While experts say price growth will moderate due to the shifting market, ongoing appreciation is expected. That means home prices won’t fall. Here’s a look at two key reasons experts forecast continued price growth: supply and demand.

While Growing, Housing Supply Is Still Low

Even though inventory is increasing this year as the market moderates, supply is still low. The graph below helps tell the story of why there still aren’t enough homes on the market today. It uses data from the Census to show the number of single-family homes that were built in this country going all the way back to the 1970s.

What’s Causing Ongoing Home Price Appreciation? | Keeping Current Matters

The blue bars represent the years leading up to the housing crisis in 2008. As the graph shows, right before the crash, homebuilding increased significantly. That’s because buyer demand was so high due to loose lending standards that enabled more people to qualify for a home loan.

The resulting oversupply of homes for sale led to prices dropping during the crash and some builders leaving the industry or closing their businesses – and that led to a long period of underbuilding of new homes. And even as more new homes are constructed this year and in the years ahead, this isn’t something that can be resolved overnight. It’ll take time to build enough homes to meet the deficit of underbuilding that took place over the past 14 years.

Millennials Will Create Sustained Buyer Demand Moving Forward

The frenzy the market saw during the pandemic is because there was more demand than homes for sale. That drove home prices up as buyers competed with one another for available homes. And while buyer demand has moderated today in response to higher mortgage rates, data tells us demand will continue to be driven by the large generation of millennials aging into their peak homebuying years (see graph below):

What’s Causing Ongoing Home Price Appreciation? | Keeping Current Matters

Odeta Kushi, Deputy Chief Economist at First American, explains:

 “. . . millennials continue to transition to their prime home-buying age and will remain the driving force in potential homeownership demand in the years ahead.”

That combination of millennial demand and low housing supply continues to put upward pressure on home prices. As Bankrate says:

“After all, supplies of homes for sale remain near record lows. And while a jump in mortgage rates has dampened demand somewhat, demand still outpaces supply, thanks to a combination of little new construction and strong household formation by large numbers of millennials.”

What This Means for Home Prices

If you’re worried home values will fall, rest assured that experts forecast ongoing home price appreciation thanks to the lingering imbalance of supply and demand. That means home prices won’t decline.

Bottom Line

Based on today’s factors driving supply and demand, experts project home price appreciation will continue. It’ll just happen at a more moderate pace as the housing market continues its shift back toward pre-pandemic levels. Want to learn more about the Sacramento market? Contact Mo Hadid today!

Is now the right time to buy a home?

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Should I Buy a Home Right Now?

If you’ve been thinking about buying a home, you likely have one question on the top of your mind: should I buy right now, or should I wait? While no one can answer that question for you, here’s some information that could help you make your decision.

The Future of Home Price Appreciation

Each quarter, Pulsenomics surveys a national panel of over 100 economists, real estate experts, and investment and market strategists to compile projections for the future of home price appreciation. The output is the Home Price Expectation Survey. In the latest release, it forecasts home prices will continue appreciating over the next five years (see graph below):

Should I Buy a Home Right Now? | Keeping Current Matters

As the graph shows, the rate of appreciation will moderate over the next few years as the market shifts away from the unsustainable pace it saw during the pandemic. After this year, experts project home price appreciation will continue, but at levels that are more typical for the market. As Lawrence Yun, Chief Economist at the National Association of Realtors (NAR), says: 

“People should not anticipate another double-digit price appreciation. Those days are over. . . . We may return to more normal price appreciation of 4%, 5% a year.”

For you, that ongoing appreciation should give you peace of mind your investment in homeownership is worthwhile because you’re buying an asset that’s projected to grow in value in the years ahead.

What Does That Mean for You?

To give you an idea of how this could impact your net worth, here’s how a typical home could grow in value over the next few years using the expert price appreciation projections from the Pulsenomics survey mentioned above (see graph below):

Should I Buy a Home Right Now? | Keeping Current Matters

As the graph conveys, even at a more typical pace of appreciation, you still stand to make significant equity gains as your home grows in value. That’s what’s at stake if you delay your plans.

Bottom Line

If you’re ready to become a homeowner, know that buying today can set you up for long-term success as your asset’s value (and your own net worth) is projected to grow with the ongoing home price appreciation. Partner with Mo Hadid at Quest Real Estate to begin your homebuying process today. Click here to contact us!

Ask the experts: Are we in a housing bubble?

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Housing Experts Say This Isn’t a Bubble

With so much talk about an economic slowdown, some people are asking if the housing market is heading for a crash like the one in 2008. To really understand what’s happening with real estate today, it’s important to lean on the experts for reliable information.

Here’s why economists and industry experts say the housing market is not a bubble ready to pop.

Today Is Nothing Like 2008

The 2008 housing crash is still fresh in the minds of many homebuyers and sellers. But today’s market is different. Odeta Kushi, Deputy Chief Economist at First American, says:

“This is not the same market of 2008. . . . It’s no secret the housing market played a central role in the Great Recession, but this market is just fundamentally different in so many ways.”

Natalie Campisi, Advisor Staff for Forbes, explains how today’s lending standards are different than those during the lead-up to the housing market crash:

“Among the differences between today’s housing market and that of the 2008 housing crash is that lending standards are tighter due to lessons learned and new regulations enacted after the last crisis. Essentially, that means those approved for a mortgage nowadays are less likely to default than those who were approved in the pre-crisis lending period.”

Another reason today’s housing market is nothing like 2008 is that the number of people looking to buy a home still outweighs the supply of homes for sale. As realtor.com notes:

“. . . experts don’t believe the market is in a bubble or a crash is in the cards, like during the Great Recession. The nation is still suffering from a housing shortage that has reached crisis proportions at a time when many millennials are reaching the age when they start to consider homeownership. That’s likely to keep prices high.”

Bottom Line

Experts say the housing market isn’t a bubble, and we’re not heading for a crash. For a full picture of today’s housing market in Sacramento, click here to contact Mo Hadid here.

What is going on with Mortgage Rates?

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Rising mortgage rates are no doubt one of the biggest factors impacting the housing market right now.

But it’s important to remember that the low rates of the last few years were an anomaly.

As inflation rises and mortgage rates climb, many may see their purchasing power shrink and their dream of homeownership fade.

However, it’s important to remember one big piece of economic wisdom: there is no better hedge against inflation than homeownership.

Historically, we have seen homeownership outperform inflation in most decades. So if there’s an asset to invest in, housing is one of the few tangible assets that tends to hold its value.

Have questions about mortgage rates or today’s market? Contact Mo Hadid today.

 

Concerns of a recession are rising. What does that mean for the housing market?

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According to a recent survey, more and more Americans are concerned about a possible recession. Those concerns were validated when the Federal Reserve met and confirmed they were strongly committed to bringing down inflation. And, in order to do so, they’d use their tools and influence to slow down the economy.

All of this brings up many fears and questions around how it might affect our lives, our jobs, and business overall. And one concern many Americans have is: how will this affect the housing market? We know how economic slowdowns have impacted home prices in the past, but how could this next slowdown affect real estate and the cost of financing a home?

According to Mortgage Specialists:

“Throughout history, during a recessionary period, interest rates go up at the beginning of the recession. But in order to come out of a recession, interest rates are lowered to stimulate the economy moving forward.”

Here’s the data to back that up. If you look back at each recession going all the way to the early 1980s, here’s what happened to mortgage rates during those times (see chart below):What Does an Economic Slowdown Mean for the Housing Market? | Keeping Current Matters

As the chart shows, historically, each time the economy slowed down, mortgage rates decreased. Fortune.com helps explain the trend like this:

“Over the past five recessions, mortgage rates have fallen an average of 1.8 percentage points from the peak seen during the recession to the trough. And in many cases, they continued to fall after the fact as it takes some time to turn things around even when the recession is technically over.”

And while history doesn’t always repeat itself, we can learn from it. While an economic slowdown needs to happen to help taper inflation, it hasn’t always been a bad thing for the housing market. Typically, it has meant that the cost to finance a home has gone down, and that’s a good thing.

Bottom Line
Concerns of a recession are rising. As the economy slows down, history tells us this would likely mean lower mortgage rates for those looking to refinance or buy a home. While no one knows exactly what the future holds, you can make the right decision for you by contacting Mo Hadid with Quest Real Estate to get expert advice on what’s happening in the housing market and what that means for your homeownership goals.

Mo Hadid
Broker & CEO

(916) 804-0039|Contact Mo
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