Blog

Camarillo Recycling is now EVERY WEEK!

Every Friday will be “Blue Can” Day
The regular pick-up of recyclable materials (or identified by many Villagers as “the Blue Can”) by EJ Harrison & Sons will now be a weekly occurrence. Beginning on Friday, July 9, Harrison will empty the in-ground, residential garbage cans as usual and empty the blue recycle bins that are put out at the curb….that’s every Friday from July 9th on.
Please disregard the error in the July issue of The Village Voice that incorrectly says this week’s pick-up would occur on Saturday.
For years, the blue can pick-up was an every-other-week occurrence; the schedule for each Village was published in The Village Voice. The company just notified Leisure Village Association this week that the recyclables will go out weekly with the garbage every Friday.

What Do Experts See on the Horizon for the Second Half of the Year?

 

What Do Experts See on the Horizon for the Second Half of the Year?

 

As we move into the latter half of the year, questions about what’s to come are top of mind for buyers and sellers. Near record-low mortgage rates coupled with rising home price appreciation kicked off a robust housing market in the first half of 2021, but what does the forecast tell us about what’s on the horizon?

Mortgage Rates Will Likely Increase, but Remain Low

Many experts are projecting a rise in interest rates. The latest Quarterly Forecast from Freddie Mac states:

We forecast that mortgage rates will continue to rise through the end of next year. We estimate the 30-year fixed mortgage rate will average 3.4% in the fourth quarter of 2021, rising to 3.8% in the fourth quarter of 2022.”

However, even as mortgage rates rise, the anticipated increase is expected to be modest at most, and still well below historical averages. Rates remaining low is good news for homebuyers who are looking to maximize their purchase power. The same report from Freddie Mac goes on to say:

“While higher mortgage rates will help slow the pace of home sales and moderate house price growth, we expect overall housing market activity will remain robust. Our forecast has total home sales, the sum of new and existing home sales, at 7.1 million in 2021….”

Home Price Appreciation Will Continue, but Price Growth Will Likely Slow

Joe Seydl, Senior Markets Economist at J.P. Morgan, projects home prices to continue rising as well, indicating buyers interested in purchasing a home should do so sooner rather than later. Waiting for rates or home prices to fall may not be wise:

“Homebuyers—interest rates are still historically low, though they are inching up. Housing prices have spiked during the last six-to-nine months, but we don’t expect them to fall soon, and we believe they are more likely to keep rising. If you are looking to purchase a new home, conditions now may be better than 12 months hence.”

Other experts remain optimistic about home prices, too. The graph below highlights 2021 home price forecasts from multiple industry leaders:

Inventory Remains a Challenge, but There’s Reason To Be Optimistic

Home prices are rising, but they should moderate as more housing inventory comes to market. George Ratiu, Senior Economist at realtor.com, notes there are signs that we may see the current inventory challenges lessen, slowing the fast-paced home price appreciation and creating more choices for buyers:

We have seen more new listings this year compared with 2020 in 11 of the last 13 weeks. The influx of new sellers over the last couple of months has been especially helpful in slowing price gains.”

New home starts are also showing signs of improvement, which further bolsters hopes of more options coming to market. Robert Dietz, Chief Economist at the National Association of Home Builders (NAHB), writes:

“As an indicator of the economic impact of housing, there are now 652,000 single-family homes under construction. This is 28% higher than a year ago.”

Finally, while it may not fundamentally change the market conditions we’re currently experiencing, another reason to be optimistic more homes might come to market: our improving economy. Mark Fleming, Chief Economist at First American, notes:

“A growing economy in the summer months has multiple implications for the housing market. Growing consumer confidence, a stronger labor market, and higher wages bode well for housing demand. While a growing economy and improving public health conditions may also spur hesitant existing owners to list their homes for sale, it’s unlikely to significantly ease the super sellers’ market conditions.

Bottom Line

As we look at the forecast for prices, interest rates, inventory, and home sales, experts remain optimistic about what’s on the horizon for the second half of 2021. Contact your trusted real estate advisor to discuss how to navigate the market together in the coming months.

Wow! Love When It All Comes Together!

We have multiple buyers that are looking for homes in Leisure Village but there are so few homes on the market.

We got 2 new listings this weekend and were able to negotiate sales for both with buyers that we represent. So happy with it all comes together for our clients!

Let us know how we can assist you with your real estate needs!


 

Leisure Village RV Decaling Time (Today 6/25 & Tomorrow 6/26 8am – 4pm)

RV Decaling
Inspection Dates and Times at the Rec Center:
June 25th, 2021     8:00 am until 4:00pm
June 26th, 2021     8:00 am until 4:00 pm
* Please drive or tow your vehicle to the Recreation Center bus lane for inspection and decaling
It is that time of the year again for our Annual RV inspections and vehicle information up dates. If you have a vehicle / trailer stored in the RV Lot, your participation is required to retain your space(s). You will be required to drive your RV or tow your trailer to our decaling location. The following information is required to retain your space.
Motorhomes, Pick Ups, and other motorized vehicles
1.    Current registration
2.    Proof of valid insurance
3.    Valid driver’s license
(All the above must include the current Leisure Village Resident, any exceptions must include a letter from the Board of Directors)
Trailers, trailers with boats, and cab over campers
1.    Current registration
2.    Proof of valid insurance
a.    Insurance on all trailers / campers that are towed or loaded onto a vehicle have to be specifically listed as a covered item on the insurance, meaning when the trailer is not hooked to the tow vehicle or the camper is removed and is parked by itself the trailer/ camper is covered by the insurance.
3.    Valid driver’s license
4.    Current registration for tow vehicle bearing the name of the current Leisure Village resident
(All the above must include the current Leisure Village Resident, any exceptions must include a letter from the Board of Directors)
All conditions must be met to remain in the RV lot.