This time of year lends itself to look back and to look forward. I thought it would be fun to review each of 2016’s months and highlight one sale that I had an exceptional time working on. Whether it be a client I supremely enjoyed spending time with, a property that felt great to hold open houses in, or one that required me to think out-of-the-box; these 12 represent the diversity of what I spent valuable time, energy, and resources on this year.
The majority of transactions I worked on do not appear above. And I don’t love those any less. This time of year, I want to say thanks to all of you who supported, referred, and worked with me. You and your referrals are what drive my business.
As I raise a glass to 2016–another record-breaking year–I look around the corner and up the hill in anticipation at what 2017 will bring. I hope you’ll be there with me. What will 2017 look like? Sources predicts a reflection of 2016, with home prices still on the rise.
Southern California prices and sales rose in November compared with a year earlier, according to a report released this week. The six-county region’s median price reached $465,000 last month, up 5.9% from November 2015, real estate data firm CoreLogic said. Sales soared 24.1%. Median prices climbed, year-over-year, in all six counties. The Southern California median home price has now risen, year-over-year, every month for more than four years.
Many economists expect prices to keep rising in 2017, but more slowly than in previous years as families have a harder time affording a home. Housing values’ rise has far outpaced income growth in recent years, and mortgage interest rates have risen since the Nov. 8 presidential election, driving up monthly payments. The average rate on a 30-year fixed mortgage was 4.3% last week, up from 3.54% in the week before the election, according to government-backed mortgage buyer Freddie Mac.
In other housing news, the closely followed Case-Shiller index was also released this week. That index found that in Los Angeles and Orange counties, prices rose 5.7% in October compared with a year earlier.
Happy New Year!