Real Estate Market

Market Trends: May 2018

National Real Estate Overview

Note: Data below from March 2018 is the most recent from the National Association of Realtors.


According to the National Association of Realtors® (NAR), sales of existing homes in March grew for a second straight month, but low inventory levels and affordability pressures held sales activity lower than a year ago.

 

Total existing-home sales (transactions for single-family homes, townhomes, condominiums and co-ops) rose 1.1% to 5.60 million in March from 5.54 million in February. Still, sales remain 1.2% below a year ago.

 

NAR's chief economist, Lawrence Yun, indicated that closings in March inched forward despite challenging market conditions in most of the nation. "Robust gains last month in the Northeast and Midwest – a reversal from the weather-impacted declines seen in February – helped overall sales activity rise to its strongest pace since last November at 5.72 million," he said. Yun added, "The unwelcoming news is that while the healthy economy is generating sustained interest in buying a home this spring, sales are lagging year ago levels because supply is woefully low and home prices keep climbing above what some would-be buyers can afford."

 

Nationwide, March's median existing-home price (all housing types) was $250,400, up 5.8% from March 2017 ($236,600). This price increase represents 73 consecutive months of gains.

 

Total U.S. housing inventory at the end of March rose 5.7% to 1.67 million existing homes available for sale, but remains 7.2% lower than a year ago (1.80 million) and has dropped year-over-year for 34 straight months. Nationally, unsold inventory sits at a 3.6-month supply at the current sales pace (vs. 3.8 months a year ago).

 

Freddie Mac data shows the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased for a sixth consecutive month to 4.44% in March from 4.33% in February. For all of 2017, the average commitment rate was 3.99%.

 

 

 

Prepare Your Home to Sell with Curb Appeal

Curb Appeal Makeovers from It's important for sellers to do what they can to get their home to stand out. Here are five quick tips to generate some excitement for your home in today's market.

 

Use Paint:  A new coat of paint can go a long way to make your home look up to date. Neutral colors work best because they appeal to the most people.

 

Mow the Lawn: Take the time to mow the lawn and clean the yard. Rake leaves and grass and put away any tools that may be lying around. Don't turn buyers off with a messy yard. If they like what they see on the outside, you'll improve your chances of getting them to look inside.

 

Plant Flowers: Seasonal or perennials can bring a splash of color to your home and brighten the view from the street. Flowers throughout the house will please the senses and make your house feel like a home.

 

Spruce Up Your Walkway: Dressing up your walkway with bricks or paving stones will lead people to your front door. Inexpensive solar lighting can further enhance your entry.

 

Window Treatments: Keep your home from looking plain or boring with some decorative shutters. Windows are very important to the overall appeal of your home. Add planter boxes underneath for an immediate improvement that doesn't cost a lot of money!

 

By following these tips, you will be able to capture the hearts and minds of today's buyers, as well as improve your chances for a quick sale at the best price possible.

 

When you are ready, contact me today for a personal market value analysis of your home. No hassles or obligation - just honest advice on how to get top dollar for your home!

 

Celebrate Mom this Month in Ventura!

Celebrate the most special woman in your life this Sunday.......your Mom!! Mother's Day is this Sunday, May 13th! Want to make sure it is a day that she will never forget? There are so many options available in Ventura! Whether you want to treat her to a special meal or find something unique to do, you and your mom will certainly have a great time this weekend. Here are our recommendations for ways to celebrate Mother's Day in Ventura!

 

Mom's Night Out

Time: 8:00 am - 10:00 am

Location: San BuenaVentura State Beach | 901 San Pedro Street

Cost: Click HERE for prices and to register

Get active this Mother’s Day with mom for the 8th Annual Mom’s Day Run. Run, jog, or walk in the 5K or 10K races. There will be live music by Emily B and delicious food at the finish line. All proceeds from this event benefit The VHL Alliance, which helps fund cancer research and services.

 

Mom's Day Run

Date: Friday, May 11th

Time: 5:00 pm - 9:00 pm

Location: Downtown Ventura

Start the celebration early at this special themed Ventura Late Night. Enjoy shopping the sidewalk sale...women get exclusive deals! Have fun dancing away to the live music throughout the evening.

 

Mother's Day Brunch Buffet

Time: 9:00 am - 4:00 pm

Location: Discovery Ventura | 1888 East Thompson Boulevard

Cost: $24.95 per adult | $12.95 per child

Treat your mom to one of Ventura’s most popular holiday brunches. With an omelet bar, carving station, kids selections, and more, there is something that everyone in the family will enjoy.

 

Mother's Day Brunch

Time: 10:00 am - 2:00 pm

Location: The Cave Restaurant & Ventura Wine Company | 4435 McGrath Street, Suite 301

Come to this very special holiday brunch in the cave. Enjoy a menu specially crafted for the day by Executive Chef Alex Montoya.

 

Mother's Day Seaside

Time: 1:00 pm - 4:00 pm

Location: Ventura Harbor Village | 1583 Spinnaker Drive

Take mom out for a shopping trip by the sea and dine at one of the 16+ delicious restaurants. Enjoy live ukulele music throughout the afternoon by Kenny Walters.

 

 

Happy Mother’s Day to all from The Blake Mashburn Group!

 
 

 

 

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Contact Information

Photo of BLAKE MASHBURN Real Estate
BLAKE MASHBURN
Century 21 Fine Homes & Estates, Troop Real Estate
1190 S. Victoria Avenue, Suite #100
Ventura CA 93003
Office: 805-856-9350
Cell: 805-368-0202
Fax: 805-642-1424