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realtor

Why You Should Get a Professional to Sell Your Home in Montebello, CA

In a world dominated by Zillow, Redfin, and Trulia, it’s easy to assume that you don’t need a real estate agent to sell your Montebello home. And while you may be able to save on the commission, having a professional by your side can bring a lot of value to the real estate transaction. Here are the benefits of hiring a real estate agent to handle your home sale.

Real Estate Agents Help Set the Listing Price

The general goal as a seller is to sell your home as quickly as possible and at the best price. A key aspect of making that quick sale is ensuring that you set the right sales price for the local market conditions. While you may think you know what your personal property is worth, your estimate may involve a little bit of subjectivity.

Real estate professionals work to get the best comparables and determine a fair asking price. And because they have no emotional bias, your real estate broker will help you set a competitive price that makes sense for the local real estate market.

Access to a Wider Customer Base

Most buyers contact a real estate agent before looking at properties. If you decide to handle the home sale by yourself, many potential buyers won’t even know you’re selling. You’ll also have to spend money up-front to advertise and get your property in front of as many buyers as possible.

Working with a real estate agent gives your home access to the multiple listing service (MLS), the first place a buyer’s agent looks when looking for homes to recommend to clients. This gives you house maximum exposure as it is actively marketed to all California realtors, as well as syndicated on third-party websites like Trulia and Zillow. You get the best of both worlds, allowing you to sell faster in competitive markets.

Get Help Weeding Out Unqualified Buyers

One of the biggest challenges of the selling process for homeowners is knowing to differentiate between a curious neighbor or dreamer and a qualified buyer. It gets frustrating when you put your life on hold repeatedly to make your house look perfect and show it to potential buyers without any real results.

You get to avoid these hassles when you have a good real estate agent by your side. Realtors are trained to ask discerning questions and determine the seriousness, motivation, and qualifications of a potential buyer. They can move qualified buyers to the point of purchase.

It’s worth noting that it’s uncomfortable for some buyers to tour a home for sale while the current owner is present. They end up rushing through the house without noticing what’s truly beautiful about and as a result, you miss out on finding the right buyer.

Real Estate Agents Offer Professional Help

The main reason people opt for FSBO over hiring real estate agents is to reduce closing costs and avoid paying commission. However, an experienced agent offers invaluable advice at zero extra cost.

They know how to stage your house to attract buyers and will provide deep cleaning if needed. They’ll also advise on necessary repairs and hire a professional photographer to take beautiful photos of your house. The above extras will make a huge impact on how quickly your home sells. Moreover, they may not cost you anything out of pocket.

Skilled Negotiator in Your Corner

A real estate agent can tap into their training and extensive experience to get you top dollar for your home. Their experience selling hundreds of properties means they understand all the games and can recognize the warning signs of a nervous buyer.

The fact that a home sale is an emotional process for you might hinder your ability to make rational decisions. You’re likely to make an emotionally charged and inappropriate response whereas a real estate agent always provides more professional responses like “The seller declined your initial request but made a counteroffer.”

Real estate agents know the local market and understand what drives demands. As a result, they have the advantage of knowing what terms are worth negotiating and when it’s worth letting the buyers’ agents win.

Access to Valuable Connections in the Real Estate Industry

Another benefit of working with a realtor is their connections to professionals in the industry. Whether it’s putting you in touch with a real estate attorney, a pro who can help with the home inspection, or discussing your property with other agents who have interested buyers, their connections are invaluable to a smooth sale.

Real Estate Agents Spot Potential Problems

A realtor is always looking out for your best interest. Part of that means being able to spot any potential problems that might occur. Your agent will help get your house to top shape, thus attracting more buyers and accelerating the selling process. This is because they have a trained eye for spotting problems a seller may not see like mold and insect issues, furnace problems, and roofing issues. They will recommend the best approach to fix these problems so that you can sell your home quickly. This invaluable will save you money down the road, especially if you’re in a slower market or selling a luxury home.

Real Estate is a Full-Time Job

FSOB sellers can’t always rush from a meeting every time they get a phone call from a potential buyer who wants to see their house. You won’t have the energy to plan marketing events like open houses or take advantage of every opportunity when you’re exhausted after a long workday. A real estate agent is able to handle the above challenges more simply because it’s their full-time job.

Contact Annabelle Jimenez to Sell Your Home in Montebello, CA

Your search for an experienced realtor to sell your home in Montebello, CA, has come to an end. Annabelle Jimenez is an experienced real estate agent with extensive knowledge of the market. She will help follow all due diligence, ensuring that you sell quickly and at top dollar. She handles everything from setting the right listing price to the closing table to ensure a smooth real estate transaction.

Contact her today by texting (562)655-8688 or calling (323) 304-5760 for help selling your home.

house for sale

How to Determine if Now is the Time to Buy or Sell your Home

In 2021, housing market experts predicted that 2022 will be a year of rising home prices and continued high demand: this has since proved true. 2021 was riddled with many buyers; however, few homes were on the market. This 2022, buyers are still interested in purchasing homes; however, the low supply of homes on the market is driving price increases. As a result, the housing market remains a seller’s market that favors homeowners who are selling now.

This article outlines the reasons you should buy or sell your house in 2022. Read on to find out why a home purchase or a home sale at this time is ideal.

When Should I Sell My House?

Many homeowners believe that market conditions should determine when to sell a house. That is not entirely true. While you should look at market conditions before you sell your house, you should pay greater attention to your personal situation. That means the best time to sell your house is when your life circumstances align with the market.

Well, it can be difficult to know when that is, so here are a few signs you should sell your house:

You Have Enough Equity

If you have negative equity, you should not sell your home. That is called a short sale. For the past few years, home values have gone up, which only means that more and more homeowners are building equity. Now, their homes are worth much more than they owe on them and will continue to maintain their worth as home values continue to increase and they continue paying their mortgages.

To figure out how much equity you have, you need to:

1. Find your current mortgage balance by looking at your latest mortgage statement.

2. Know your home value. Many homeowners use figures from online valuation sites to determine the worth of their homes. While this is an easy process, it is not always accurate. We recommend asking a real estate agent to run a free CMA (Comparative Market Analysis) for an accurate estimate.

3. Subtract your mortgage balance from your home’s estimated market value. The difference will show you how much equity you have.

Before you sell your home, your equity should be enough to pay off your current mortgages, make a 20 percent down payment on your new home, and cover closing costs and moving expenses.

You Have Some Understanding of the Market

When you have some understanding of the market, you can predict what you might experience when you sell your home based on factors such as housing inventory.

If the number of homes for sale in your area has been going down, you may not have as much competition when your house goes on the market. As such, you can sell your home for more money. On the other hand, if housing inventory is going up, the added competition can make it difficult to sell your home.

An experienced real estate agent will know what is happening in your local market, and they will notify you when it is the perfect time to sell your home.

You are Ready to Capitalize on Buyer Demand

If you live in an area where bidding wars are common and home prices are rising fast, you are likely to see a lot of buyer activity, especially at entry-level prices, often purchased by first-time buyers.

The price range that is considered entry-level depends on the area in which you live; however, it is usually considered the lower third of home sale prices for an area.

You Can Afford to Purchase a Home that Meets Your Needs

Do you need a bigger home for your growing family? Or maybe all your children have moved out, and you are ready to size down. If any of these is the case, selling your home may be a valid option, and low inventory can help you sell your home faster, especially if your home falls under the entry-level price range. Selling your home will also help you pay cash for a smaller one, so you can pump money into your retirement fund.

You Can Pay Off Your Debt with the Money You Make From the Sale

Selling your home to get out of debt is a smart financial move. With the money you make from the sale, you should be able to pay off your consumer debt, including student loans, personal loans, and car loans. You should also have enough money left to pay for a new home.

You Have a Real Estate Agent

If you have decided to put your home on the market, you need to bear in mind that your real estate market and your financial situation are unique. A seasoned agent can help you figure out how the current housing market in your area is shaping so that you can decide whether a sale makes financial sense for you or your family.

Why Should You Sell Your Home?

Inventory has been low for the past few years and will probably remain so for the foreseeable future. But, there are other reasons you should sell your home. Consider the following market trends:

Mortgage Rates are the Lowest They Have Ever Been

Mortgage interest rates are historically low, making this the perfect time to sell your home.  Now, if mortgage rates rise even by half a percentage point, there will be a drop in home loan applications, and you will get to see how low rates impact the market.

Take Advantage of Low-Interest Rates

Rising interest rates drive up the prices of homes, making some homes unaffordable to some buyers. When you sell your home now, you attract more buyers, and the low-interest rates make homes more affordable. Low rates mean that buyers can save money; therefore, many potential buyers who are on the fence can start looking for their dream home.

If you are looking to buy a home, now is the best time to do so because if interest rates go up, buying a home could be more expensive for you.

Homes are Selling for More Than the Asking Price

In 2021, about a third of homes sold for more than the asking price, probably because of intense buyer interest. If you sell now, you have a chance to sell for top dollar and get the best return.

Take Advantage of High Resale Value

If you have lived in your home only for a few years, there is a high chance that you could sell it for more than you paid for it.

Most homeowners view their homes as investments, and if you want to cash in on your home equity, selling is a quick way to acquire those funds.

Home Building Has Gone Up

Data from the U.S. Census Bureau shows that each year, more and more homes are being built to accommodate the housing needs of the growing population. This shows that home builders are gaining more confidence in the market and are beginning to pump out more homes.

Why Should I Wait to Sell My House?

You should wait to sell your home if:

You Recently Refinanced

If you have recently refinanced, you should not be thinking about selling your home anytime soon. When you refinance the mortgage on your house, your monthly payments will go down. This way, you can alleviate financial woes.

Deputy Chief Economist for First American Financial Corporation, Odeta Kushi, states that since the pandemic started, a significant number of homeowners have locked into mortgage rates below 3 percent, making selling a less attractive option.

You Cannot Afford to Sell

Given the current market conditions, if you owe more on your home than what you expect to sell it for, you should probably refrain from selling. When you sell while underwater, you will need to bring money to the closing table.

We advise you to wait for your home to appreciate before you sell.

You Are Struggling to Find Your Next Home

One of the drawbacks of a seller’s market is that as a home seller, you might struggle to find your next home. This can discourage you from selling, knowing that you might not find a home to buy and force you to expand your search.

We recommend waiting for a more balanced market, which is unlikely to prevent you from selling your home at a higher price. When the market is balanced, you are less likely to see sale prices and multiple offers far beyond the asking price.

Looking to Buy or Sell a House? Anabella P. Jimenez Will Help Make the Process Seamless

Deciding whether to buy or sell a home is a lot of responsibility — therefore, finding an experienced agent who knows the ins and outs of your market is vitally important. Anabella P. Jimenez is committed to helping you sell your home faster, for more money, and helping you find and purchase a primary residence with little to no hassle.

Anabella has over 15 years of experience and is ready to work with you and make the home buying process as smooth as possible. She has worked hard to be the best in the business, and there is no obstacle or challenge that you face that she will not overcome using her sheer will and determination.

Feel free to contact Anabella via phone at (562) 655-8688 or visit her physical office at 2901 W Beverly Blvd Montebello CA 90640-2212. You can also text her directly or connect with her on Facebook, Instagram, or Zillow.

foreclosure

6 things you should know before buying a foreclosure in Montebello, CA

Are you having problems servicing your monthly mortgage payments and are unable to finish payments for your mortgage plan? Are you contemplating foreclosure? Why not consider dealing with real estate professionals who have the experience and know-how to put your interest ahead of everything while ensuring everything goes smoothly? Alternatively, you could be looking to purchase a foreclosure in Montebello, CA, and not know how to go about the process. Reaching out to Anabella Jimenez is the best decision you could make for your foreclosures.

A foreclosure purchase is one of the most important, yet most tricky decisions you will ever make in real estate.

Foreclosed property

Foreclosure Picture. Source: Unsplash

Foreclosure occurs when a lender repossesses real estate from a titular owner due to the inability to pay back the lender money owed against the property. When this happens, the property is referred to as foreclosed property.

Mortgage lender

A mortgage loan is a secured loan that allows the loanee access to funds in exchange for immovable assets. The asset acts as security to the lender. It remains lender-owned until the loanee fully repays the cash loaned for the asset.

Mortgage loans include an FHA loan, commonly known as the Federal Housing Administration loan. The FHA is an insured government loan given through a bank or any other lender approved by the agency to offer lending services. The government works with well-established real estate companies such as Exp Realty and recognized and trusted listing agents and buyers like Anabella Jimenez.

We work with different agents and lenders like Rocket Mortgage, an online mortgage lending company. Once you reach out to us we check your credibility to access the lending services provided and give you real estimates, interest rates, and numbers based on your finances.

Unlike many conventional loans, this loan requires a very minimal down payment. The Federal Government issues FHA to target urban development.

Real estate agent

These are real estate professionals licensed to help people sell, buy, and rent real estate. They also handle foreclosures. They link buyers and sellers and are paid a commission on their work. The pay of a real estate agent is usually a percentage of the property’s sale price. These agents are also known as real estate associates or real estate salespeople and they take charge of transactions between buyers and sellers. They also link real estate owners to renters. They have made it easy for future homeowners to access former owners and negotiate deals.

Real estate brokers

When an agent advances education and receives a real estate broker license, s/he becomes a real estate broker. As opposed to real estate agents, brokers can work independently. They can also hire real estate agents to work for them. They both buy and sell real estate to customers. Like real estate agents, they also handle foreclosures.

6 things you should know before buying a foreclosure in Montebello, CA

Are you worried about taking home loans to buy a home? Do you feel it may be too expensive for you to manage the mortgage payments? Well, buying a foreclosed home may be the best option for you.

Mortgage lenders foreclose homes when buyers cannot afford mortgage payments. They repossess the homes. Sometimes, mortgage lenders sell homes for lower prices and demand a lower down payment for the foreclosed property. There are risks to buying foreclosed properties. Experienced real estate agents will help you out. The right real estate agent can get you a home at a lower price, saving you a significant amount of money or even the loss of it all by identifying hurdles and loopholes that an untrained/inexperienced buyer would not see.

Get all the property information concerning the foreclosed home you want to buy beforehand. Work with real estate agents who understand the market. A local agent will be more informed. The local agent can assess the market value of the property with ease.

Consider a few factors before buying a foreclosed home. First, do your research on different ways you can use to buy a foreclosed home. There are many options for buying a foreclosure. You can buy a foreclosure from a homeowner. Especially pre-foreclosures. The owner still holds the property but knows a foreclosure process is underway.

You can also buy a foreclosure through a public auction. Third-party trustees would approach a lender after the owner’s default payment. There could also be an issue with the title from a government agency. It could be because the owner stopped paying property taxes on it leading to foreclosure.

You can also buy a foreclosure from the lender on the open market. Another option is to purchase government-owned foreclosure properties. Real estate owned by the Government has a similar face and `approach to that of private lenders. The Government agency takes ownership of the property upon the owner’s default on the home loan obligation. It officially becomes a foreclosed home owned by the government.

The second factor to consider when buying a foreclosed home is cost. Can you afford the price? Does the price make sense? Most lenders will want over 43% of your gross monthly pay. A debt-to-income ratio that is too high poses a financial risk. Home loans will be unsustainable in this scenario.

Third, search for an experienced real estate agent. You will receive professional advice before dealing in the foreclosed property. Your agent must be familiar with the unique laws and regulations governing foreclosure.

Fourth, get pre-approved for a mortgage. Preapproval gets your income to debt ratio checked at no cost. You also know how much you qualify for even before applying for the mortgage. You become an attractive buyer if preapproved.

Next, make a competitive home purchase offer. Your agent presents your offer directly to the listing agent of the bank.

Lastly, get a home inspection done for you. By buying the foreclosed home as-is, inspect it to ensure it meets your expectation. Get a home inspector to assess whether the home is in a livable condition. A home inspector can tell whether a house has structural issues that could affect habitability in the future. Foreclosed homes tend to give no room for negotiations, and this is the reason thorough home inspection before the buying process begins is necessary.

What do I need to know about buying a pre-foreclosure?

Pre-foreclosure refers to the first stage of a legal proceeding. Decisions for foreclosures are made, and repossession is concluded. Before a pre-foreclosure, understand what it means. Second, distinguish it from a short sale. Short sales differ from foreclosure sales in the sense that in a short sale, the homeowner owes more than the value of the home. Know that the homeowner has options. Getting a home sold could be a strategy for the seller when it may appear like a desperate sale. However, typical practice dictates that if a short sale is not possible for a property owner, the property is put in a foreclosure auction.

Know the discounts you could get from a pre-foreclosure and take advantage of them. Get a pre-foreclosure and be pre-approved for it. You can make the deal sweeter with earnest money.

Do your due diligence and ensure you have all the information you need to decide. The last step is making your bid. If you can get insider information on what other bidders are offering, do so and take advantage.

What is the risk of buying foreclosed homes?

From the foreclosure experience, most foreclosure sales involve neglected homes. You may need extra repairs. It makes foreclosed properties riskier. Investors compete for these since they are cheap. There are many offers and high competition. Foreclosed homes are riskier than traditional real estate properties. However, with the right agent, you could strike a bargain and not have to do many renovations or repairs.

Contact Anabella Jimenez for your foreclosure purchase in Montebello, CA

Your search for the right agency to handle your Foreclosure matters has come to an end. Text Anabella Jimenez directly on phone number (562)655-8688. For calls, reach the phone number (323) 304-5760. You can also reach us online and log in your details, with the phone number through which we should reach you. Let us handle the next home sale transaction for you since we will follow all due diligence such as hiring a home inspector, and ensuring you do not get undercut. We help negotiate loan fees, interest rates and act as a buffer between you and the seller by offering you the right real estate agent or mortgage broker. Visit us today!

How to get the most money when selling your home in Montebello, CA

Montebello means Beautiful Mountain in Spanish but it also means splendid hills in Italian. The city has a bit of heritage as it is over 100 years old and has still been able to attract more people. It is an amazing city because it offers quite a bit to its citizens. Indeed, there are a wide variety of spaces for people to visit, that range from great supermarkets to apparel stores and even a decent mixture of fast foods.

Of course, your Montebello real estate agent will note that this city is wonderful because it also offers a slew of great schools that are within the right proximity. Your real estate professional will point out the fact there are great clean parks within the area that enable families to spend time with each other and to relax.

At the same time, many residents of the city will note that they have been able to feel very safe in the community and that they have had a peaceful existence while residing in the area. Many people have been able to have wonderful memories in beautiful Montebello and this means that the city is a great place to live.

The fact that it has quite a bit of substance is why many people can expect a fair cash offer when selling their home in the Montebello area. Even though it is a smaller sized city, it does offer a great deal of value with facilities that range from a bus line to emergency services and more. Its residents can bring about a sense of community and can take advantage of the programs that the city provides.

Thanks to its libraries, parks, recreation centers and more, one can really note that the city has quite a bit to offer. This is attractive to buyers and can help you obtain a fair cash offer for your house in Montebello CA.

Your real estate professional will let you know how all of these aspects can help you sell your house fast in the Montebello CA area.

If you are looking to sell your house fast in the Montebello CA area, the good news is that it is possible. The fact the city is appealing and that one can partake in a small town setting while having access to large cities around them, makes it even more compelling.

Here is what you need to know if you want to sell your house fast in the Montebello CA area.

Plan Ahead with a Real Estate Agent To Sell Your House Fast

You’ll be required to keep up with some standards if you expect to sell your home quickly and get the most money in Montebello, CA. Due to high market competition, you must get everything right to get more profit on your home.

You need to know what your buyers are looking for to be able to deliver it to them. It’s no surprise that so much time is spent checking:

  • Mortgage rates 
  • Researching how much house you can afford
  • The ideal location
  • The types of homes that might make suitable investments 

It’s critical to plan ahead before selling your property. Putting in that effort can help you make more profit on your home sales. Below are tips that will help you get the appropriate profit from selling your house.

Understand the local real estate market in Montebello, CA

A local realtor, such as Anabella Jimenez, can help navigate your community’s dynamic real estate market.

With the help of a trustworthy agent like Anabella Jimenez, you gain an understanding of the market, including these aspects below.

The right real estate agent can help you obtain a fair cash offer today as they account for these factors:

  • Legislation
  • Customs
  • Marketing trends
  • Traditional bank financing

If you are looking to sell your house fast, it is good to know how people buy houses, how they account for closing costs, and why they would want to purchase a house quickly in the Montebello CA area. The truth is that many residents have to live their lives and do not keep up with these facts. They can be busy with other aspects of life. This is where a proficient real estate professional like Anabella Jimenez will add significant value to your life.

Kitchen and bathroom upgrades

Kitchens and bathrooms are the most mistreated rooms in the house. So, naturally, they are the areas that home buyers inquire about the most.

To refresh the look of these rooms, you should upgrade the:

  • countertops
  • cabinets
  • fixtures 

Upgrading raises your home’s value and resale value. It will also make your property more appealing and compelling to local home buyers. This will help them to purchase the house quickly and will help you to sell your house fast.

Sell at the Right Period

Early spring is the ideal time to offer a property for sale. Houses listed in spring sell better than houses listed in other seasons. So, spring is the best time you can put your home up for sale.

Gardening

A tidy patio with comfy garden furniture will increase your home’s value. Improve your garden and make your yard more attractive. That will increase the appeal of your house significantly.

Get Rid of Clutter

You want to present your home in the best way possible. Make sure:

  • All debris is eliminated 
  • All rooms are clean and tidy before viewing. 

This gives the impression that the house has been well-kept and cared for. A cleanroom will appear more attractive than a congested one.

Make use of smart home technology

Remotely controlled home systems have become regular fare for new house sales. You save money and ensure advanced security measures with:

  • smart home technology
  • Smart thermostats
  • blinds
  • locks
  • safety systems 

Try to install all these to raise your home’s value enormously. The best part is you’ll spend a lot less to install them compared to the value it will add to your building.

Perform all necessary repairs

Make all the necessary repairs to increase your building’s appeal to buyers. You want them to focus on appreciating their new environment rather than what they will need to maintain and repair.

Noticing minor issues like broken door handles or staircase makes buyers worry about bigger issues. This would reduce their trust in the quality of the house.

Accurately Price Your Home

Avoid setting unrealistic high prices to get more money for your home than it is worth. Pricing your home above market value will delay the sales.

Most real estate consultants advise listing the home below market value to attract more purchasers. Low offering prices help draw more attention to your home. That will increase the offers you receive and your negotiating power.

Use Digital Marketing to Your Advantage

We live in an age where purchasing a home can be done online. Make use of the real estate industry’s online marketing potential. Invest in high-quality images and video creation. All this will increase the appeal of your home and generate more internet interest.

Professionals Make a Difference

To achieve the most profit from selling your house. You need the advice of real estate agents and experts that will help ensure:

  • Selling the house appropriately
  • Selling your home to the right people
  • Making the proper repairs

Selling your home would take a lot of patience and hard work. Contact us to help you find a real estate specialist. A professional that will walk you through the process of selling your home.

Work with Anabella Jimenez in Montebello CA

Hello! I’m Anabella Jiminez! I’m there when you are looking for a home in Montebello or selling a home in CA. I have been a realtor for many years and understand what it takes to seek out and find that perfect home. Real Estate is a tough job; homes come and go on the market quickly, which is why I need to be on my toes.

I watch the homes for sale in the CA Real estate market 7 days a week near Montebello, CA and throughout every corner of SE Los Angeles and know the market well. I work hard to ensure that you have what it is that you need.

My clients are always pleased with my services as I do my best to go above and beyond what you need. If you are thinking about putting my home on the market or looking for a new home, I am happy to assist.

Reach out to Anabella Jimenez in Montebello, CA today to sell your house fast and reach out to cash home buyers in the local area today.

Montebello Housing Market Report for June 11th

The last 30 days have shown stability for the Montebello, CA housing market. 

Despite a global pandemic and uncertainty in the market, the housing market in Montebello remains active. 

Median days of homes on Market in Montebello, CA: 

May: 17 days on market June: 32 days on market

Listing Inventory of Home on Market in Montebello, CA: 

IDX Image               May:  Active Listings – 28  Listings sold – 10 June:  Active Listings – 26  Listings sold – 16

The median price of homes on Market in Montebello, CA: 

Sold $610,000 New $559,450 Active $623,500 IDX Image

Overall thoughts:

The housing market in Montebello remains strong and competitive. Many homes are still receiving multiple offers. We anticipate homes will continue to remain above the listing price and go into pending status within 15-19 days. If you need help buying or selling a home in Montebello, don’t hesitate to reach out.

~Team Anabella

 

 

San Gabriel Valley Get Ready: Economists Forecasting Recovery to Begin in the Second Half of 2020

With the U.S. economy on everyone’s minds right now, questions about the country’s financial outlook continue to come up daily. The one that seems to keep rising to the top is: when will the economy begin to recover? While no one knows exactly how a rebound will play out, expert economists around the country are becoming more aligned on when the recovery will begin.

According to the latest Wall Street Journal Economic Forecasting Survey, which polls more than 60 economists on a monthly basis, 85.3% believe a recovery will begin in the second half of 2020 (see graph below):Economists Forecast Recovery to Begin in the Second Half of 2020 | MyKCM

There seems to be a growing consensus among these experts that the second half of this year will be the start of a turnaround in this country.

Chris Hyzy, Chief Investment Officer for Merrill notes:

“We fully expect the economy could begin to pick up in late June and July with a strong recovery in the fourth quarter.” 

In addition, five of the major financial institutions are also forecasting positive GDP in the second half of the year. Today, four of the five expect a recovery to begin in the third quarter of 2020, and all five agree a recovery should start by the fourth quarter (see graph below):

Economists Forecast Recovery to Begin in the Second Half of 2020 | MyKCM

 

 

 

 

 

San Gabriel Valley

2020-San-Gabriel-Valley-Economic-Forecast-Report

According to the 2020 San Gabriel Valley Economic Forecast Report for March 202o:

“In 2019 most cities continued to see home prices rise, with Monterey Park increasing the most at 8.0%, followed by Rosemead at 6.3% and Altadena at 4.7%. In contrast, the largest decline was in El Monte which saw prices fall 5.2%.”

Bottom Line

The vast majority of economists, analysts, and financial institutions are in unison, indicating an economic recovery should begin in the second half of 2020. Agreement among these leading experts is stronger than ever.

©2020 Century 21 Real Estate LLC. All rights reserved. CENTURY 21® and the CENTURY 21 Logo are registered service marks owned by Century 21 Real Estate LLC. Century 21 Real Estate LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated.