Welcome back for episode 5 of Thirsty Thursday with the Millman Team! We’re taking a brief break from the brews this week because we have a treat for you. Ray Millman, one-half of our fearless leadership team, recently held a class about the current market shift for Keller Williams South Bay, and when Ray talks, EVERYONE listens. Join us as he talks a little about his 38 years of experience as one of the most successful realtors in the South Bay and what he thinks about the current state of the real estate market. Here are a couple of key points from his presentation:
-2019 < 2018…home values will probably flatten out, +/- 3%. Inventory will decrease, but rates should stay steady.
-Mortgage payments have caught up to rent payments, so now is a great time for first-time home buyers!
-The stock market does not always affect real estate.
-The last three major market shifts:
*1980-1982, interest rates shot up to 16-18%
*1990-1995, regional/local military funding decreased dramatically, unemployment skyrocketed.
*2007-2012, national crisis. banks with bad financing, selling back mortgages with no value.
BIGGEST TAKEAWAY = none of these causes are present in today’s Southern California market. Although we are seeing a “shift” in real estate, it is nowhere near a crash, but more of a (very) soft landing.
If you have any follow-up questions about Ray’s key points or you and anyone you know would benefit from the Millman Team’s services, please don’t hesitate to contact us at (310) 375-1069 or firstname.lastname@example.org.
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