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"Fleeing California Home Sellers Figure Out How To Save Big"
October 13th, 2020
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Homeowners Are Fleeing California in Record Numbers but Saving Lots on Listing Fees

It's no secret that homeowners all across the state are packing up and making a break for other states.  

Anthony Nitz a top real estate agent in Orange County California who is known as "The 1% Listing Guy" shared that since March every single one of the listings he has taken, were with people who were moving out of state.  These are some of the reasons home seller's shared with him.  

It's Gonna Pop!

Anthony tells us that almost all of his clients are sharing their concern that "The market is about to pop!"

Interest rates are at an all time low and many home seller's are benefitting from it at the moment. 

After all, it makes it easier for many more people to qualify to buy their home. 

But what happens when those rates jump back up?  And they will.  

Anthony says "The problem with these low interest rates is that it creates false security for future home seller's. They think that because rates are low today, they'll be low tomorrow. Then they're surprised when they miss the low rate boat. I've seen it before. Just one tiny rate shift and the whole real estate landscape changes.  With almost 0% fed rates it can only go one direction.  The question is when will they go up? No one ever knows until they've already gone up and the damage is done.

Do you want to be trying to sell when rates jump?"

We've seen it before.  Only half a percent increase in rates will completely wipe out a good portion of the buyer pool causing inventory to increase rapidly as seller's panic list without the buyers to buy the homes.  

The good news is Anthony will list any home in any location in any price range right now for only 1% Listing fee putting more money back in your pocket.
Anthony Nitz is licensed with the California Departement of Real Estate #0123064 EXP Realty

Property Taxes and Politics

"Political uncertainty has been brought up by almost every home seller I work with..." Anthony says.  

He shared that many home seller's are concerned not only about the Presidential election and what things will look like after that, but even concerns over local and state policy making.

Higher taxes seem to keep making their way into California households.

The idea that they are trying to ultimately get rid of Prop 13 for homeowners and hints that the Sacramento leadership is already discussing ways to add or increase other taxes continues to make CA one of the highest taxed states in the US. Homeowners are worried they can afford to stay.

Mortgage Forbearance Defaults

When COVID-19 hit the shores of the United States, the government pushed banks to make available a huge number of forbearances. That was a great short term solution and of course many homeowners took advantage of the option. Most banks however were only offering up to 6 months and the end of the initial 6 month period is already upon us.  

Those homeowners who took a forbearance have to start making those payments again and many are struggling to re-start.

Savvy home seller's are concerned that these people will sadly be forced to sell their homes causing a glut of listings that are desperate to sell creating a lot of competition forcing prices to drop.

So to beat this rush of new listings home seller's are opting to put their home on the market sooner rather than later.
  
This is one of the very reasons Anthony Nitz says that he only charges 1% listing fee while providing full service.  "The people have been hit hard enough. They don't need to be paying high listing fees to get high quality service when they've already lost so much."
Anthony Nitz is licensed with the California Departement of Real Estate #0123064 EXP Realty
This is an advertisement and not an actual news article, blog, or consumer protection update.
© TheNitzTeam.com | 13711 Holt Ave., Santa Ana CA., 92705, United States of America 
No part of this report including images may be reproduced or placed on any electronic or other medium without written permission from the publisher. Information contained herein is obtained from a licensed real estate professional and believed to be reliable, but its accuracy cannot be guaranteed. Anthony Nitz is licensed with the California Department of Real Estate #01230064  with EXP Realty. This is not a guarantee that Anthony Nitz will list your home for sale. Disclosure: Every home selling situation is unique and .requires a detailed analysis to determine things like price, salability and current market conditions. The only way you can decide if it is the right time to sell is by evaluating all market conditions and your own unique situation. 
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