Is is time to buy a house?

The coronavirus pandemic sent shock waves throughout the real-estate industry. But does that make now a good time to put in an offer on a property?
The answer to that question will largely depend on what you plan to do with the home — particularly if you’re an investor.
But finding homes at a good price could be something of a challenge.
When the coronavirus pandemic began to trigger stay-at-home orders across the country, it upended the home-buying process.

Deals Are Still Available, But Beware the Bidding War

There was a pandemic sweet spot when the market stalled, but right now, many houses are going to the best and highest offers ---houses offering wide open spaces are going for $50,000 or more above the asking price—and are typically bought in cash.

Proceed with caution if you find yourself in the midst of a bidding war. The supply of homes for sale in the U.S. has fallen to the lowest level since 2012. These conditions are associated with a ‘seller’s market’ and tend to drive higher prices. But overpaying for a house now will make it nearly impossible for you to turn a profit when you move out some day in the future.

Real estate market after COVID-19

If you hope to sell your home this year, the late summer or early fall might be a good time to try, according to realtor.com’s latest housing market forecast.

Even with the expected rebound, experts believe home sales will be down 15 percent for the year. Other expected trends include a migration out of large urban markets and into smaller cities, where density is lower and housing is more affordable.

The pandemic has distorted the spring housing market but, oddly, has not greatly affected its balance. While there are dramatically fewer buyers, there are also fewer homes for sale, as homeowners who want to sell are waiting if at all possible.

In the last month, mortgage underwriters have dramatically tightened requirements for getting approved for a loan. The reason? Loaning money suddenly looks a lot riskier due to surging unemployment and the CARES Act allowing homeowners to delay paying their mortgages.

Although qualifying for a loan will be harder to do, the realtor.com forecast predicts that finding a home for sale will still remain the largest hurdle for buyers for the remainder of the year. 

There are only seven properties in Los Angeles County currently listed at $100 million or above. This week’s collection includes one such behemoth up for grabs in Malibu. We’ll also look at the recent real estate dealings of some actors and athletes.

Celebrities from across the spectrum are heating up the 2020 real estate market. This last week, we saw a pair of movie stars sell their stylish home and a couple of athletes make moves of their own.  see

California Housing Market Forecast 2020 Los Angeles San Francisco San Diego

If prices follow and enter into a tailspin, many buyers struggling to afford a home would rejoice — provided it wasn’t accompanied by an economic downturn and return to high joblessness.

The California housing market plateau'd in November. Despite lower mortgage payments, buyers can't afford the down payments nor find a suitable home to purchase. With listings decreasing dramatically, and the US economy and job market doing well, we might expect much higher home prices in 2020. Housing economists suggest price growth will be more moderate however. Read more...