Onyx Homes

This might be the most important housing market update I've ever written. Make sure to read until the end, because there are some important things you should know... But first, let's dive into the housing market summary. New Listings = We are on a downward trend for the rest of the year. The number of new listings was down by about 200 fewer listings compared to last month. This is normal, and we'll continue to see fewer listings come to the market each month for the rest of the year. Available Listings = Housing supply is going way up! Several hundred more homes are available this month than last. This is great news for a healthier market, and we should keep seeing this throughout the rest of the year. Days on Market = Somehow, the days on the market have stayed flat—still at 10 days. Honestly, I would have expected to see a spike here. The market is still moving very fast, even though we are seeing a supply increase. Price = $1.17m, down from $1.2m. This is the first price drop we've seen so far this year. June and July had record median home prices of $1,200,000. This is the window of opportunity. Interest Rates = Big drops! We're currently seeing 6.5% rates, down from the 7.12% posted on our last housing market update. Read the rest of the update here: https://lnkd.in/gjut2Y3h #realestate #housingmarket #orangecounty

We're about to see a change from the old way to the new way of finding your real estate agent. The old way: Consumers think that all real estate agents are the same (good or bad) Most consumers think that all real estate agents are the same, meaning they don't see any difference between using one realtor over another. This leads many consumers to choose convenience. Here are two staggering stats... 1. 50% of consumers work with the first agent they talk to 2. 50% of agents haven't sold a house in the last 12 months Double yikes. I hope this goes to show the importance of choosing who you hire carefully. The new way: I think more people will choose their agent like they do for their financial advisor, accountant, or attorney. It doesn't take a ton of homework to compare real estate agents. And it's one of the many reasons that we, here at OnyxHomes.com, make so much content for our customers. Here is the reality, if you're working with an agent that isn't the best, you usually won't find out until it's too late. We want to make it as easy as possible for you to realize that we provide more value than any other company. It's not very often we talk about how wonderful we are, we are here to educate you in hopes that you'll become a client in the future (if you're not already). We'll be showing more proof in the form of ‘Case Studies’ about what we've done for our clients in the past.

Here is your June 2024 Housing Market Update for Orange County New Listings = Down by 100 listings compared to last month. Last month, 2,268 new listings hit the market in comparison to the 2,555 previous month. This is the first time we’ve seen a decline in new listings in May since 2021. Even then, there were 50% more new listings than we saw this last month. This will continue to make our inventory problem worse through summer. Available Listings = 17% increase from last month! This is great news. This means home buyers have more inventory to view and choose from when shopping. This is typical for this time of year, but hopefully, we see it increase. As of now, we have 3,721 available listings on the market. Days on Market = No change here. The median days on the market is still 9. We expected to see this number increase from last month, but the market has to stay competitive. Price = $1,200,000 is the new highest median price point. Another $25k increase from last month. We have seen inventory increase, new listings decrease and prices have still gone up. Interest Rates = As always, this is just the posted rate for a 30-year fixed mortgage from Mortgage News Daily. As of today, rates are showing 7.07% which is an improvement over what we’ve seen lately. Want a deep dive? Read more here: https://lnkd.in/gEzjhTxp #realestate #orangecounty

We started this newsletter two years ago to share useful information with you so that when you decide to buy, sell, or invest in the housing market, you'll be well-informed. My team went through the newsletters from 2024 so far and picked out the ones that people got the most value from. Whether you're new here or just want a refresher, here are the top 5 newsletters from 2024 so far: 1. Why don't more people do this?: https://bit.ly/45aACOg Here is a topic that a lot of people don't talk about... and I think fewer people really understand. Off-Market Opportunities. What does off-market even mean? Well, I'm going to explain this from your point of view (a consumer), and then I'll loop in my perspective as a real estate agent. Then, I'll share with you why this is so important to anyone who either owns a home or wants to own a home. 2. Should you upgrade your home?: https://bit.ly/4dFEKJU How to make sure you're making the most money out of your real estate. Imagine this...you're thinking about selling your home in the next couple of months. You're wondering what you need to do so you can max out your sale. Here is how we look at selling homes for the most money… When we're prepping a home for sale, we talk about value adders (the good) and value subtractors (the bad). 3. If you are moving…: https://bit.ly/3xUZVYf If you're even remotely considering buying a home in the next 12 months, this is for you. Way too often, we run into people who think 'researching' means browsing sites like Zillow or SoCalHomesForSale.com.... That is not research, not exactly. Here is something that happens far too often... A home buyer finds a home that they like and thinks about trying to buy it. They haven't done much other research and definitely haven't done a Buyer Strategy Session. 4. You have a 49% chance: https://bit.ly/4azA6ea Here is a list of what the average buyer's agent does... Open door Make too much money Right? Actually, yes. In a lot of cases, that is what it feels like to the consumer, to you. This is no surprise to me because most consumers think (or at least act) like all buyer agents are the same. This may shock you... You have a 49% chance of working with an agent who has done zero to one deal in the last 12 months. ZERO TO ONE. Meaning they have no idea what they're doing. So yes, it probably would feel like they're just opening doors and making too much money. Pro-Tip: Not all agents are created equal. 5. How we saved our clients over $1M: https://bit.ly/4br62Sl We saved our clients $1.26m for our clients in 2023. Based on our average price point of $935k… That comes out to 1.26% on average when buying their home. Put simply, we save our clients $11,780 on average. Our goal with this newsletter is to share valuable information weekly. Comment below to tell us which topics you found the most helpful or if there's something specific you want to learn about that we haven't covered yet.

Since the beginning of the year, we have seen tremendous growth on our team. We’ve brought on over 20 agents to our team, hired an amazing office assistant, and we are ready to grow even more! We are looking to fill two positions ASAP!! Position #1: Videographer We are looking for an entry-level videographer to join Onyx Homes. You’ll work side by side with our marketing manager to level up our team’s content. Interested?? Email your resume & portfolio to [email protected] Position #2: Transaction Coordinator We are looking for an experienced Transaction Coordinator to run our department. We will not consider any contract work. Must be able to handle 25 files at a time. Email [email protected] Both positions are full-time! We offer paid time off & health/dental/vision insurance. Send this to someone who would be interested in applying!! Have any questions?? Email [email protected] Christian Stubbs Realtor® | DRE# 02082942 First Team Real Estate @theonyxhomes (949) 334-2270

Would you sell for 15% more than you think your home is worth right now? Something most people are shocked to hear is that people are still buying houses. But because you're following this newsletter, you already know this. You also know I've been sharing that Orange County is reacting differently than the rest of the country. Orange County is on top of the list for the entire country for median home price appreciation. 15% price appreciation in the first quarter of the year. That is HUGE appreciation numbers for three months. Read more here: https://lnkd.in/gtmUytDQ

You'll be shocked when you see the market update this month. Make sure to read to the end because Christian gave a prediction, which he typically doesn't do. New Listings = Down again. This is NOT normal. We have seen fewer new listings coming to the market for two months in a row. This time of the year, we should see this number increasing a lot. There were 1,851 new listings in March which was 13% fewer than this same time last year. Available Listings = Even with fewer new listings coming to the market, we did see available listings increase from last month. There are 2,912 active listings on the market, about 150 more than last month. Even though this is also down about 13% from last year, at least it's going in the right direction. Days on Market = Basically the same, but it did decrease from 10 to 9. Homes are selling very fast. This will continue through the summer market. Expect the market to get hotter before it cools down. Price = 18% higher than they were at this time last year. The median home price in OC has hit another new high. $1.15m. A $50k jump over last month. This will continue to increase, but how much it will increase is something I'm not sure about yet. Interest Rate = Unchanged from our last update. As we know, rates change daily, but we're still just above 7%, today showing 7.01%, according to MND. Click here to read Christian's prediction: https://lnkd.in/gWBPNX3t

Here is a list of what the average buyer's agent does... 1. Open door 2. Make too much money Right? Actually, yes. In a lot of cases, that is what it feels like to the consumer, to you. Which is no surprise to me because most consumers think (or at least act) like all buyer agents are the same. This may shock you... You have a 49% chance of working with an agent who has done zero to one deal in the last 12 months. ZERO TO ONE. Meaning they have no idea what they're doing. So yes, it probably would feel like they're just opening doors and making too much money. Pro-Tip: Not all agents are created equal. If you were going to the dentist, I don't think you'd choose to work with someone who has zero experience. I know I wouldn't. I hate going to the dentist, and the idea of someone who doesn't know what they're doing makes it 100x worse. On the other hand, working with true professionals (in any field) can make your life much easier. Here are a list of a few of the things our team does for our buyer clients... - Find and filter through off-market homes (ones that aren't on Zillow) - Buyer Strategy Sessions - Filter through the MLS to find opportunities our clients miss online (you're probably missing the best deals) - Create 'done for you' tours on your schedule (this saves you hours of coordinating and planning) - Manage and walk you through your paperwork (500 documents) at no extra cost - Leverage our relationships to get more intel than other agents (aka negotiate) Like I said, not all agents are created equal.

If you've been online at all this week, you probably heard about the NAR Lawsuit. It's been comical to see some of the articles come out from 'reputable' news companies... I'm going to spend our time today going over these three questions: - Why was there a lawsuit in the first place? - What were they trying to change? - What was the real outcome of the settlement? ... and as always, from me, you're going to get this straight to the point and explain in a way we can all understand. (as I jokingly say, "Explain it to me like I'm a 3rd grader”) Watch the video here: https://lnkd.in/gpizJRBE Read the blog here: https://lnkd.in/gAjBTsSD Christian Stubbs DRE# 02082942 Onyx Homes First Team Real Estate #narlawsuit #narsettlement #nar #realestate