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NEW MEMBER BENEFIT!


Want to screen a prospective tenant?  OC REALTORS® provides screening services through RentSpree at no cost and allows you to quickly and easily receive a comprehensive application package for each applicant.  With RentSpree, you will be able to receive the following for each applicant:

  1. Credit report and score
  2. Criminal background check
  3. Fifty state eviction history
  4. Completed rental application
  5. Tenant identity verification

To screen a new tenant, all you need is the applicant’s email address.  Simply enter the email address into your RentSpree account and the applicant will automatically receive an email invitation to complete the application process.  You can also distribute a handout during showings to get screening reports back on the spot.

Applicants complete the process and authorize their screening reports in minutes using any computer or mobile device.

Request your personal demo today to learn more by visiting http://ocrealtors.rentspree.com/

Applicants pay only a $30 fee to apply and there are no additional costs for you to use the service.

You can visit http://ocrealtors.rentspree.com/ to either request a demo or get started today!  Or, to learn more, you can always call RentSpree at (323) 515-7757.

 

 

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Orange County REALTORS® is dedicated to providing members with valuable market data to utilize in the business. In order to provide a quick glance at the housing market, an OC Market Snapshot for both detached and attached homes will be posted online each month. Members can use these graphics for marketing materials and listing presentations. Be sure to also review the Monthly Housing Summary for a more comprehensive look at the County. For a detailed look at over 180 neighborhoods throughout Orange County, use OC FastStats.

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The average of inventory for detached homes was 3.4 months. That is up slightly from last year when it was 3.2 months of supply. Attached homes inventory has increased to 2.5 months compared to 2.1 months in May of last year.

The median sales price continue to rise with detached homes coming in at $849,450 which is up 6.2% from 2017. Attached homes rose 4.7% to a median sales price of $501,000 from $478,500 last year.

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Thank you to all of the candidates who participated and all of our members that voted!

The following candidates (in no particular order) were elected to serve as OC REALTORS® Directors, 2019-2021:

Jeffrey Jackson Liz Lewis Lacy Robertson Adam Rodell Julie Hile
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In Memoriam: Elizabeth Ann Bernard Claus
(1946-2018)

It is with great sadness that we announce the passing of a beloved member and director, Elizabeth Ann Bernard Claus. 

Elizabeth was born July 13, 1946 in Boston, Massachusetts and passed on April 29th, 2018 in San Clemente, California. Liz went to elementary school in the Boston Catholic Dioceses. She graduated from Regina Dominican high school in Wilmette, Illinois. She went on to graduate from Marquette University with a BA in Speech. Her dad, an attorney, who presented cases before the Supreme Court, got her a two-year internship in the White House. It was then she developed a love for politics. Liz traveled to the west coast and got a job in the film industry. While working in LA she met and married Tom who has since passed away. Liz then entered the Real Estate industry. She started with Fred Sands and ended up running all of Fred’s offices in West LA. She was living in West Hollywood and served on the West Hollywood planning commission for four years. Liz moved to Dana Point and joined Christie’s great estates as the western states manager in a territory that included every state west of the Mississippi including Alaska and Hawaii. Liz was appointed to the Dana Point Planning Commission and served 10 years. Liz met her husband Bart in 2002 while they were both working out at the same gym. Bart says, “I fell in love with Liz at first sight.” They dated and stayed together for the next 16 years, eight years of which they were married, until the Lord took her. “The Lord has taken the woman I love, my darling Liz.” All of his family and friends tell Bart she is in a “better place” and that he should be thankful for that, and he knows that. But that doesn’t make Bart miss her any less.

Arrangements are being made for Liz to be buried at sea on June 23, 2018.
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Orange County REALTORS® is dedicated to providing members with valuable market data to utilize in the business. In order to provide a quick glance at the housing market, an OC Market Snapshot for both detached and attached homes will be posted online each month. Members can use these graphics for marketing materials and listing presentations. Be sure to also review the Monthly Housing Summary for a more comprehensive look at the County. For a detailed look at over 180 neighborhoods throughout Orange County, use OC FastStats.

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The average of days on market for detached homes was 35 days. That is a drop from last year when it was 46 days. Attached homes sold in an average of 27 days compared to 38 days in April of last year.

The median sales prices in April for detached was $830,000 which is up 6.5% from 2017. Attached homes rose 10.2% to a median sales price of $512,250 from $465,000 last year.

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The twenty applicants accepted for the Orange County REALTORS® 2nd Annual Leadership Academy in September 2017, have now graduated from the intensive eight-month leadership program, and have just returned from joining more than 2,000 REALTORS® in Sacramento for the California Association of REALTORS®’ Legislative Day on May 2, 2018. 

Rita Tayenaka, 2017-2018 Academy Chair and 2015 President of the Orange County REALTORS© said, “It is the goal of the academy to give participants the confidence to embrace the responsibility to serve as a leader in the real estate industry and the community.”  

She noted, “Several of our alumni and participants have already stepped up to leadership roles not only within Orange County REALTORS© but at the state level of other real estate industry organizations such as the Women’s Council of REALTORS© (WCR).  Locally as President of the Aliso Viejo Chamber of Commerce, and in leadership roles for the Orange County Chapters of the National Association of Hispanic Real Estate Professionals (NAHREP), the Asian American Real Estate Association (AAREA) and Young Professionals Network (YPN). 

“We are proud to acknowledge our Leadership Academy graduates," stated Tammy Newland-Shishido, 2018 President of Orange County REALTORS©.  "They have completed the program and a legislative visit to the State Capitol. Some have already accepted leadership roles within our association, and our Credentials Committee has approved several applications from graduates as candidates for the election of the Association’s 2019 Board of Directors.”  

Graduates are:  
Cassandra Amos – Nova Real Estate Inc.
Edward Arce – Intero Home Services a Berkshire Hathaway Affiliate
Matt Cortez - First Team Real Estate
Olesya Drozdova – HomeSmart Evergreen Realty, Irvine
Leslie Eskildsen – Realty One Group Inc.
Spencer Hoo – RE/MAX Premier Realty
Laurie Johnson – Bullock Russell Real Estate Services
Sherrie LeVan – Prime OC Properties, Inc.
Jonathan Leonhardt – Team Laguna Real Estate
Yami Martinez – Altamar Real Estate
Larry Paul – C2/Thrive Financial Lawrence D. Paul, Broker
Joyce Purvis – Coldwell Banker Mission Viejo
Hanz Radlein – Berkshire Hathaway Home Services
Mary Rampone – Regency Real Estate Brokers
Tamara Romano – Home Point Financial
Jessica Siguenza – Finance of America Mortgage
Kevin Smith – First Team Real Estate
Lynne Suzanski – Coast to Canyon Real Estate
Tina Vo – Realty One Group Inc.
Lisa Yi – NextHome Coastal 

Dave Stefanides, CEO of Orange County REALTORS© is delighted that many of the graduates have already demonstrated their willingness to serve the Real Estate industry, and their communities in a leadership role. 

Local and national instructors lead the monthly training programs. The 2018-2019 Leadership Academy is now accepting applications. The deadline to apply is 5 p.m. July 16, 2018. For more information, visit www.ocar.org/leadership-academy.

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Orange County REALTORS® is excited to announce a partnership with OC Fair to offer discounted tickets for members to purchase. Tickets will be available for purchase starting Tuesday, May 1 at both OC REALTORS® locations for only $10 each (regularly $12-14). 

The partnership comes from an ongoing search to provide valuable discounts for members. Benefits Coordinator, Alyssa Corsini-Wilson has spearheaded the search for discounts and benefits throughout Southern California. "We are constantly looking for benefits to provide to our members. The OC Fair is such a staple each summer that we thought it would be great to get discounted tickets for our members to share with their family and clients as well!" said Corsini-Wilson. 

In addition to the discounted tickets, OC REALTORS® will have $2 Off Coupon books available at no cost to members. "REALTORS® can use these coupons as a farming tool to invite prospective clients to the OC Fair!" explained Corsini-Wilson. Members may pick up coupon books at either office. Limit 200 coupons per member.

To learn more about the OC Fair, visit their website

To view additional discounts and benefits available to our members, visit the Benefits page.

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Code of Ethics Training - Mandated by NAR

Existing REALTOR® members must complete 2.5 hours of ethics training, meeting specific learning objectives and criteria, within two-year cycles. REALTORS® who have completed the required ethics training within a two-year cycle in one association shall not be required to complete any further ethics training for that same training cycle if the REALTOR® becomes or is a member of another association.

All REALTORS® must complete the Code of Ethics training through NAR by December 31, 2018. Failure to complete training during any cycle will lead to suspension of membership for the January and February immediately following the cycle deadline, with termination of membership starting March 1 after the cycle deadline.

Current Cycle

January 1, 2017 to December 31, 2018

Future Cycles

January 1, 2019 to December 31, 2020
January 1, 2021 to December 31, 2022

Take Online Training

If taking the online training, both the free course or the paid CE course will satisfy the requirement.

 


Frequently Asked Questions

How can I check to see if I have completed the Code of Ethics requirement?
You can check to see if you have completed the requirement on NAR's website. Log in to www.nar.realtor. Once logged in, click on My Account and then click on Manage Account. Under Other Links, click on View your Education Records (NRDS). If you see one of the Course Numbers below then you have completed the Code of Ethics requirement. If you do not see either Course Number listed then you still need to complete your Code of Ethics training before December 31, 2018.

Course Numbers - New Members:
BPP COEN 20171
BPP COEN 20181 

Course Numbers - Continuing Members:
BPP COEC 2017C5
BPP COEC 2018C5

Do I still need to complete Code of Ethics training if I have Emeritus, Honorary or other Exempt Status from the BRE?
Yes, ALL active REALTOR® members must complete COE by December 31, 2018 EXCEPT Emeritus Members. NAR Emeritus members do not have to complete Code of Ethics training.

What classes will satisfy my Code of Ethics requirement?
The following classes offered by OC REALTORS® will fulfill your Code of Ethics obligation. 

Ethics classes provided by a CalBRE approved provider will also qualify.

View additional FAQs on NAR's website

 

 

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Laguna Hills, April 23, 2018 - Over 118 aspiring real estate professionals attended “New REALTOR® Orientation,” a program hosted by the Orange County REALTORS®, one of California’s largest local associations of professional sales agents and related professionals. 

“California requires sales agents to take specified coursework and sit for a licensing exam.  To become a REALTOR®, state-licensed salespersons must adhere to a code of ethics, submit to continuing education requirements, and join the National and State Associations of REALTORS® in addition to joining a local board like Orange County REALTORS®,” explained Chief Executive Officer of Orange County REALTORS®, Dave Stefanides. 

Stefanides went on to say, "In today’s competitive real estate market, new agents need to get up to speed and one of the best ways to do this is by joining a local association of REALTORS® that offers expertise in all areas of practice. OC REALTORS® has a fantastic learning track for new agents called “New REALTOR® Essentials” that includes training on the Residential Purchase Agreement (RPA), zipForms®, MLS tools and much more!"

Each New REALTOR® Orientation is facilitated by one or more Orange County REALTORS® members. This session was facilitated by Pam Pedego, REALTOR® and 2018 Chair of the Education Committee, along with fellow REALTORS® and Education Committee members Scott White and Chip McAllister.

When asked why Orientation is so important for new members, Pam Pedego said, "It's a kick start for your career. It's a great opportunity to network with other REALTORS® and understand that we are all on the same team. Team REALTOR®!"

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Orange County REALTORS® hosts seven weekly marketing meetings throughout Orange County for members to promote their listings and network. Recently our Huntington Beach meeting, led by facilitator Lori Jones with Central Escrow Group, raised money for a great cause. 

“At our annual review to discuss the Preview Meeting, our group voted on numerous non-profits in our community [to contribute to] and decided to choose the HB Tree Society,” said Lori Jones. The interest to contribute to the Huntington Beach Tree Society was sparked by past president and current REALTOR® member of Orange County REALTORS®, Barbara Delgleize.  Jones went on to explain that “Barbara was very informative in regards to the Society and explained what they do for our town and it received the most votes at the time so we agreed to donate $2,000 to them.” 

The Huntington Beach Tree Society was contacted and gladly accepted their donation of $2,000. Jean Nagy, president of The Huntington Beach Tree Society wrote in a letter to Lori Jones that the “money will be used to purchase more trees and drought tolerant plants for the parks of Huntington Beach.” Along with the thank you letter was a tree house which will be hung at the Meadowlark Golf Club where the meetings are held each week. 

When asked what organization would be next up for donations, Jones said “We are now raising money for the Huntington Beach Council on Aging.”


To learn more about Orange County REALTORS® weekly marketing meetings, visit the webpage.

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Orange County REALTORS® is excited to announce yet another free member benefit - Remine! Remine is a powerful tool combining visualization of in-depth property data with predictive analytics. CRMLS users can make the most of Remine’s billions of property records, map visualizations, and tracking features – at no additional cost.

Comprehensive records
Learn about ownership time, loan amounts, owner status, zoning, permits, neighbors, Airbnb, tax, schools, and more on properties in your MLS.

Visualize your opportunities
Use Remine to see a wide variety of data on MLS properties on an intuitive map, connecting properties with billions of data points to help you learn who might sell next.

Mold your MLS experience
Learn more about specific properties and neighborhoods, or map search with your own parameters – find your own way to make Remine data work for you.

Integrated with CRMLS
CRMLS and Remine have partnered up to offer CRMLS users a seamless experience at no additional cost. Want to get even more in-depth? Premium plans are also available.


Sign up for a training webinar with CRMLS!
REGISTER

 

 

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Orange County REALTORS® is dedicated to providing members with valuable market data to utilize in the business. In order to provide a quick glance at the housing market, an OC Market Snapshot for both detached and attached homes will be posted online each month. Members can use these graphics for marketing materials and listing presentations. Be sure to also review the Monthly Housing Summary for a more comprehensive look at the County. For a detailed look at over 180 neighborhoods throughout Orange County, use OC FastStats.

b2ap3_thumbnail_OC_Market_Snapshots_March2018_detached.png   b2ap3_thumbnail_OC_Market_Snapshots_March2018_attachedx.png

The average of days on market for detached homes was 38 days. That is a drop from last year when it was 54 days. Attached homes sold in an average of 32 days compared to 46 days in March of last year.

The median sales prices in March for detached was $825,000 which is up 7.8% from 2017. Attached homes rose 6.5% to a median sales price of $506,000 from $475,000 last year.

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Orange County REALTORS® Commemorating 50th Anniversary of Fair Housing Act

Leaders from Orange County REALTORS® will join REALTORS® across the country to commemorate the 50th Anniversary of the Fair Housing Act, one of our country’s most significant laws guiding the real estate industry today.

“As we celebrate Fair Housing Month in April, it’s particularly important this year as we are also commemorating the 50th anniversary of the Fair Housing Act,” said Tammy Newland-Shishido, 2018 President of Orange County REALTORS®. “Fair housing makes us stronger, and as REALTORS®, we embrace our role being at the forefront of advancing fair housing and making a commitment to address fair housing issues,” said Newland-Shishido.

All year long, members of Orange County REALTORS®, will lead efforts to raise awareness of fair housing issues by reaffirming their commitment to uphold fair housing laws and offering equal professional service to all in their search for real property.

“The passage of the Fair Housing act represents a huge step toward ensuring that all Americans have a chance to live where they choose, but there’s still much for REALTORS® and others in the real estate community to do,” said Newland-Shishido.

President Lyndon B. Johnson signed the Fair Housing Act into law on April 11, 1968, noting that the right to fair housing “is now a part of the American way of life.” The legislation now prohibits discrimination based on race, color, religion, sex, handicap, familial status, and national origin. 

 

To learn more about the Fair Housing Act’s 50th Anniversary, visit C.A.R.’s website.

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In Memoriam: Gene S. Griffith
(1937-2018)

It is with great sadness that we announce the passing of a beloved member, Gene S. Griffith. Gene went to be with the Lord on February 17, 2018 in Mission Viejo, California. Gene was a beloved Mother, Grandmother, Great Grandmother, and Friend.

Gene was born in Charleston, Mississippi and then moved to Ashland, Kansas at nine years old where she attended primary school through high school. Gene attended the University of Kansas in Lawrence, Kansas as a Kappa Kappa Gamma and graduated in 1959. She married soon after and gave birth to her first son Todd in Massachusetts. Gene and her family made their way to Dana Point, California and gave birth to her second son Scott. They moved to Huntington Beach where she gave birth to her third son David. Gene was raising a family and had a modeling career for a few years before moving to Mission Viejo in 1970. A few years later she got a divorce and got her real estate license. She enjoyed her real estate career for nearly 40 years primarily serving the Saddleback Valley.

Gene was involved in many organizations: Kappa Kappa Gamma, PEO, Red Hat Club, and various women’s bible study groups. She loved to volunteer and spent many hours doing so at Saddleback Church and her local senior center.

Gene is survived by two sons and their families: Todd Griffith, Suzan Kuhner, and Kevin; David Griffith, Dawn Griffith, and Ashley, Stephanie, Brooke, Luke; Scott Griffith (deceased), Daniel Beicht, Kacie Beicht and Scott, Danny, Ava, Nash.

Memorial service to be held at Saddleback Church in the plaza room on Thursday March 8, 2018 at 1:00 pm. In lieu of flowers, donations can be made to the Salvation Army.
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We are now accepting applications to be a 2019 C.A.R. or NAR Director. All applications are due to Debby Ritter by June 27, 2018.

State Director Responsibilities

  1. Maintain a REALTOR® membership in good standing at OC REALTORS®
  2. Abide by the terms of OC REALTORS®’ “State Director Commitment and Policy on Travel”
  3. Act as an ambassador for OC REALTORS® and its members while fulfilling your duties as a state director
  4. Agree to a three (3) to five (5) year commitment
  5. Attend all three (3) State business meetings scheduled annually
  6. Actively serve on three (3) State Committees; they may be assigned as Leadership deems fit
  7. Submit a written report detailing the issues and outcomes at each committee meeting assigned
    or requested within two (2) weeks.
  8. Invest at least $148 in the REALTOR® Action Fund (RAF) while serving as a State Director
  9. Serve in a volunteer capacity at OC REALTORS®, as a committee or task force member, as a project or event
    volunteer, or as a member of OC REALTORS®’ board of directors while serving as a State Director.

C.A.R. State Director Application

NAR Director Responsibilities

  1. Maintain a REALTOR® membership in good standing at OC REALTORS®
  2. Act as an ambassador for OC REALTORS® and its members while fulfilling your duties as a NAR Director
  3. Agree to a three (3) to five (5) year commitment
  4. Attend the two (2) NAR business meetings scheduled annually
  5. Actively serve on at least one (1) NAR Committee
  6. Submit a written report detailing the issues and outcomes at each committee meeting assigned
    or requested within two (2) weeks
  7. Invest at least $148 in the REALTOR® Action Fund (RAF) while serving as a NAR Director
  8. Serve in a volunteer capacity at OC REALTORS®, as a committee or task force member, as a project or event
    volunteer, or as a member of OC REALTORS®’ board of directors while serving as a NAR Director

NAR Director Application


DEADLINE TO APPLY: June 27, 2018

 

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In Memoriam: Liz Noriega
(1955-2017)

It is with great sadness that we announce the passing of a beloved member, Liz Noriega. Noriega worked as a REALTOR at RE/MAX Terrasol in Huntington Beach.

Memorial services will be held at the Huntington Harbour Yacht Club at Warner and PCH on Wednesday, December 20 from 11am-2pm with tacos being served at noon as Liz would have liked. This is a party to celebrate her life, so bright colors and happy memories are required. Liz's family members are requesting that everyone that attends bring a written memory of Liz with some pictures that they can use to make a scrap book of her life for her grandkids.

Huntington Harbour Yacht Club
3821 Warner Ave
Huntington Beach, CA 92649

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By David Girling
GIRLING REAL ESTATE INVESTMENT GROUP

 

Tax reform, reduced housing affordability, limited inventories, and rising home prices and rents dominate the headlines. All are interrelated. As REALTORS®, we need to read past the headlines and make sense of the facts for our clients. The goals of this article are (1) to give you some information to address questions that may arise from recent headlines and (2) to clarify the conclusions drawn concerning these headline topics. 

Headline No. 1:  Tax Plan Will Hurt Homeowners
Lawrence Yun, NAR Chief Economist, November 2017

The National Association of REALTORS® (NAR) says, “Home values could drop 10 percent if the Senate or House tax reform bill is signed into law. The bills double the standard deduction and, as a result, fewer people itemize using the mortgage interest deduction. This will give people less incentive to buy a home.” Added Lawrence Yun,

“It will lead to a renter nation and away from an owner nation.” 

Analysis Based on Actual 2017 Sales Transactions

I arrived at the conclusions below from an analysis of three actual 2017 sales transactions (in Newport Beach, Mission Viejo, and Aliso Viejo), as well as an additional scenario where the purchase price was the same as the U.S. median home price. All four properties were later leased as investment properties. Purchase prices ranged from $245,000 to $2.9 million. Housing payments before and after the application of tax benefits were compared to the monthly rents. 

  • Newport Beach: $2.9 million purchase price, $7,900 monthly rent. It is clearly better for a person to rent this property than to purchase it. If the tax reform bill is signed into law, more than $40,000 in potential tax benefits (e.g., property taxes and the mortgage interest deduction) will be lost. Assuming 2 percent appreciation, the return on equity (ROE) is negative. 
  • Mission Viejo: $980,000 purchase price, $4,500 monthly rent. The total housing payment and rent for this property are within $100 of each other. After factoring in the tax benefits, it is better to purchase rather than to rent this property despite the approximately $9,900 in tax benefits that will be lost with the new tax plan. Assuming a 2 percent appreciation in the value of the property, the ROE is 6.57 percent. 
  • Aliso Viejo: This property (a condo) sold for $580,000 in 2017 and was leased for $2,850. No tax benefits will be lost through tax reform in this scenario. The analysis shows it is better to purchase this property when tax benefits are applied. The ROE is 5.13 percent. 
  • S. Median-Priced Home. Using the most recent median home price (Source: NAR) as a purchase price and using a rental rate of $1,600 per month (Source: Zillow), this scenario shows that it is better to purchase. No tax benefits will be lost with tax reform; and assuming a 2 percent appreciation rate, the ROE is 13.46 percent. 

Some homeowners with a higher standard deduction (SD) may chose not to itemize; and, as a result, the tax benefits will not matter. In that event, all transactions analyzed except for the U.S. median-priced home show that a potential homeowner would be better off continuing to rent if no tax benefits were applied to the housing payment (Mission Viejo and Aliso Viejo are marginally better). Not all homebuyers base their decision on tax benefits, but it will impact the decision for some. 

Assumptions for These Four Scenarios

Property tax deductions are limited to $10,000, the mortgage interest deduction (MID) is limited to loans up to $500,000, and the standard deduction almost doubles. There is also no opportunity cost factored into the analysis (see Table 1).


 

Conclusions

This analysis confirms some of the conclusions that have been drawn about the possible impact of tax reform on homeownership. Homeowners at the high end will be greatly impacted through the loss of tax benefits. Lower-end buyers who base their decision regarding whether to purchase primarily on the impact of tax benefits may decide not to do so because the higher standard deduction may render the tax benefits unusable. And prices may need to correct (NAR says by as much as 10 percent) as a result of the impact of tax reform and how it affects the decisions to buy or rent. The impact of tax reform will vary for each situation, and it will be important to analyze each situation and the assumptions that are being made. 

 

Headline No. 2: Homeowners Can’t Count on Property Appreciation for Wealth
Faculty at Florida Atlantic University, Florida International University, and the University of Wyoming, November 2017 

According to the authors, “On average, renting and reinvesting wins in terms of wealth creation regardless of property appreciation, because property appreciation is highly correlated with gains in the traditional financial asset classes of stocks and bonds.” 

Conclusions

Some of the follow-up articles that resulted from this study included headlines that prompted some readers to conclude that renting is always better than owning, such as the following: “Homeownership Doesn’t Build Wealth” (CNBC, November 16, 2017). This is an example of where you need to read beyond the headlines. This study is based on the assumption that renters will invest the savings generated by renting rather than buying and, as a result, will create more wealth by renting than by owning a home. The assumption is that the renter will save and reinvest, not consume. Homeownership is a good, forced-savings vehicle and, because most renters are not likely to save to the extent necessary, continues to be a good alternative for wealth building. 

 

Headline No. 3:  58 Percent of Homeowners Think the Housing Market Is Set for a Correction—Are Bubble Fears Founded? 
Forbes, August 15, 2017 

Conclusions

Bubble—No. The conditions that led to the housing crash in 2006 (i.e., easy credit, speculation, etc.) do not exist today. 

Price Correction—Yes. If you believe in housing cycles, a correction is approaching. Depending on how you interpret the graph shown in Figure 1, the previous housing cycle lasted anywhere from ten to seventeen years, flat from 1990 to 1997 but picking up momentum in 1997 until it burst in 2006/2007. Cycles have historically lasted seven to ten years, and we are in the ninth year of the recovery. As a result, a correction may be on the horizon. Other factors, including the potential for increasing interest rates and the lack of affordable housing, also suggest that a correction may be coming.

Figure 1. Depending on how you interpret the numbers, the previous housing cycle lasted anywhere from ten to seventeen years, flat from 1990 to 1997 but picking up momentum in 1997 until it burst in 2006/2007. Historically, housing cycles have lasted seven to ten years, and we are in the ninth year of recovery. 

 

David Girling completed his undergraduate work at the University of Southern California and earned a Master of Business Administration degree from the Anderson Graduate School of Management at the University of California, Los Angeles. In 2008, he formed Girling Real Estate Investment Group (Girling REIG) with his father, Bing, and has more than thirty years of experience in the financial services industry.  Dave and Bing are affiliated with Villa Real Estate.

 

 

Disclaimer: The opinions expressed and the conclusions reached in this article are based on best-efforts analysis and are offered solely for informational purposes. The accuracy of the information is deemed reliable, but is not guaranteed by the author, who is not responsible for typographic errors or other inadvertent inaccuracies. Any individual or entity intending to rely on this information should seek verification through personal investigation or investigation by qualified individuals. All information is provided “as is,” without any warranty of any kind, either expressed or implied.

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