Plenty of Buyers Are Still Active Today
*Holding off on selling your house because you believe there aren’t any buyers out there?
*Data shows buyers are still active, even with higher mortgage rates. This goes to show, people still want to buy homes, and those who can are moving now.
*Don’t delay your plan to sell for fear no one is buying. The opposite is true and buyer traffic is still strong today.
*Connect with Mark Roan to get your house in front of these buyers.
Pending Home Sales Ticked Up in July
But Still Hovered Near the Recent Low
Pending sales have stabilized following months of steep declines, but homebuyer demand remains below pre-pandemic levels as house hunters grapple with elevated mortgage rates, high prices, and a lack of supply.
Pending home sales inched up in July—rising 0.7% from a month earlier to the highest level since the start of the year on a seasonally adjusted basis. Still, they were only 5.4% above the low point they hit in March. Pending sales fell 15.7% year over year, the smallest annual decline since last summer.
Pending sales have stabilized as the shock of elevated mortgage rates has subsided. They dropped to 367,000 in March—the lowest since the onset of the pandemic—and have been hovering around that level ever since (they clocked in at 387,000 in July) as prospective buyers continue to be discouraged by high housing costs and a lack of homes for sale. READ MORE
Housing Market Predictions for 2024
August 24, 2023
With mortgage rates and home prices both historically high and inventory tight, many prospective sellers and hopeful buyers are feeling nervous about today’s housing market.
As of July 2023, the median sale price for an existing home in the U.S. was a steep $406,700, the highest July price the National Association of Realtors (NAR) has ever recorded and just $7,000 short of the all-time record. And as of late August, the average 30-year mortgage rate had hit 7.36 percent — higher than it’s been in more than 20 years.
Home prices, mortgage rates, and inventory levels will all shape housing affordability in the coming year. Curious about where these trends may go? Read on to learn what the experts predict for the 2024 housing market.
What will happen to the housing market in 2024?
A lot depends on what happens with mortgage interest rates. Rates roughly doubled in 2022, thanks in part to the Federal Reserve’s war on inflation, and have stayed high since. While the Fed does not directly set mortgage rates, mortgage lenders take cues from them, and mortgage rates climbed in tandem with the Fed’s long string of rate hikes. READ MORE
Ralene Nelson, REALTOR®
OPEN HOUSE – Sat. 12:30 – 3:30 pm
FOR SALE – 4052 Heaton Ct. Antioch
4 bed/3 bath/2,873sqft/4,748sqft lot
$759,000 – Move in ready, with curbside appeal. This home shows pride of ownership. Newer 24 tile floors greet you at the entrance & throughout the main floor w/6 baseboards. Den & full bath are at the front of the home then passing to the living room & dining, where high ceilings provide a feeling of grandness. The remodeled kitchen has new white cabinets w/soft closing doors, quartz counters w/alined vines & chevron tile backsplash, new stainless appliances, a Bosch dishwasher & refrigerator. Gas stove w/air fryer oven & standard oven & Zepher hood make for a gourmet chef’s delight. The chef has a pantry, stainless workstation sink & ambiance lighting above the cabinets. The kitchen opens up to the family room with a corner electric fireplace enhanced by tile surrounding the wall. Venture upstairs to the 4 bedrooms, LVP flooring 4 baseboards throughout. The laundry room is at the top of the stairs, & primary bedroom is at the rear of the home with a view of the river. The large primary bath has double sinks, an oval tub & tiled shower with a beautiful frameless door. READ MORE
JUST LISTED – 500 Coronado Way, Rio Vista
2 bed/2 bath/2,048sqft
$529,500 – Don’t miss out on this stunning Burlingame model, located on a corner lot with minimal exposure to rear neighbors. The entrance has been upgraded with stamped/dyed concrete as well as, the 2 rear patios. This home has great curb appeal, & as you step inside, you can feel the warmth from the soft decorating neutral tones & plush carpet. The flex space provides you with additional room for entertaining, both for seating & dining and the gourmet kitchen equipped with stainless appliances for the chef includes an island for bar stools & sink. Extra counter space also provides as excellent spot for a buffet or displaying your treasures. This home has a nook for casual dining & space for a formal dining room table, as well as a den/study. The gas fireplace with w/upgraded mantle in the great room makes for a cozy room too. The primary suite is larger than most and accommodates a king bed with ample room around. Slider to private patio w/privacy screen provides a cozy spot for morning coffee/nightcap. The primary bath has double sinks, a walk-in shower & walk-in closet. The 2nd bedroom is located in front of the home, this provides privacy for both guests & homeowners. Move-in ready, just bring your treasures and join the fun in this Active Adult Community. 2 pools/spas, tennis courts, bocce ball, and billiards. READ MORE
FOR SALE – 718 Allender Way, Rio Vista
PENDING – 98 Bruning Ave. Rio Vista
4 bed/2.5+ bath/2,554sqft/9,583SF
Events in Northern California this Weekend
Fairfield: The Secret Garden Presented by Missouri Street Theatre
Sept. 16 – Sept.17
Downtown Theatre, 1035 Texas St, Fairfield
From Tony Award and Pulitzer Prize winner Marsha Norman and Grammy Award®-winning composer Lucy Simon, The Secret Garden is a story of faith, family, and the power of dreams. Follow young, orphaned Mary Lennox as she’s sent to live with her reclusive uncle on his haunted country estate. Accompanied by a glorious and hauntingly beautiful score, Mary’s curiosity and the help of unlikely companions send her on a quest to untangle the pieces of her family’s past and, most importantly—discover herself along the way. READ MORE
Solano County Home & Garden Show
Sat, Sep 16, 12:00 AM – Sun, Sep 17, 11:59 PM
Play & Picnic Area | Nut Tree Plaza, 1661 E Monte Vista Ave, Vacaville
The home and garden show has been a tradition since 2015. Attendees are able to come out and meet with home improvement specialists who can share their expertise on the latest products and services to find those finishing touches for unfinished projects and more.
Come enjoy a unique shopping experience with our local Artisans who design and make unique gifts and home decor items. Our vendors offer a wide range of products and services on upgrades, repairs for heating & air, solar, kitchen and bathroom, doors and windows, screens, garage flooring, alarms, electrical, and more. WEBSITE
Let’s go! “Into the Spotlight”, Film Festival
Sat, Sep 16, 1:45 – 4:00 PM
Journey Downtown, 308 Main St, Vacaville
“Into the Spotlight”
A heartfelt story of how a script, a stage, and a theater program composed of adults with disabilities celebrate their creativity, explore life’s complexities, and empower a community, in their own words and their own way—
INTO THE SPOTLIGHT is a documentary feature film that follows a Dallas-based theatre troupe, composed of people with intellectual and developmental disabilities, who are determined to write, rehearse, and perform their 11th annual original musical during the 2021-22 season.
A lot of the time documentaries that focus on disabled communities tend to be the experts explaining how these people feel, however, in this doc, the film is crafted entirely from the point of view of the individuals giving them a voice.
Lodi Grape Festival
Fri, Sep 15 – Sun, Sep 17
Lodi Grape Festival Grounds, 413 E Lockeford St, Lodi
Put on your party pants and get ready for a rockin’ time at the Lodi Grape Festival September 14-17th 🎸🎶 We have an epic line-up on the @michelobultra Stage including @sawyerbrownband and @plainwhitets 🙌
All concerts are FREE with fair admission. Seating is first come, first serve.
Be sure to get your discounted tickets + carnival wristbands by 9/13 to save up to 40%! Purchase them at www.grapefestival.com or save on online convenience fees by getting them at Lodi Food 4 Less, Rancho San Miguel, and the Lodi Grape Festival Office! #LodiGrapeFestival WEBSITE