Does your home need updating to sell, but you don't want to do the renovation? We have cash buyers who will buy your home!
For the last few months I have been a part of a task force within the Conejo Simi Moorpark Association of Realtors that has taken on the task of taking our partnership with our Brokers, Owners, and Office Managers (aka "BOOMers") to the next level. It has been a very busy few months, but last week on May 28th it came to fruition with an incredible invite-only event for our key BOOMers.
This event brought together the BOOMers for the largest and most influential companies in our area and put them in a room with Tamara Suminski who is the President-Elect of the California Association of Realtors, Jordan Levine who is the Chief Economist of the California Association of Realtors, and Matthew Fineup, Ph.D. who is the head of California Lutheran University's Center for Economic Research and Forecasting, ("CERF"), which has had the most accurate national housing market forecast in the country for four of the last six years!
Tamara discussed the latest updates with CAR, our successes at Legislative Day, how the state Leadership went to DC the week prior and met with our elected officials and fought for homeowner's rights. She also covered some of the many benefits that CAR members receive as well as upcoming events and conferences.
Next up we had CAR's Chief Economist, Jordan Levine. He discussed the market trends across the entire state of California and where he sees the housing market going over the next five years. He covered some very interesting metrics, including the use of the "Cold Feet Form", properly known as the Withdrawal of Offer form and how it is increasing in use. This, combined with the cancellation of escrows, gives a good picture of how many buyers aren't going through with their transactions.
Next up was Matthew Fineup, Ph.D. who is the head of California Lutheran University's Center for Economic Research and Forecasting. He gave a very impactful presentation on the Ventura County real estate market and how it is the THIRD WORST in affordability in the NATION! That was very shocking. He listed historically low building, not just here but nationally, as well as how we implemented SOAR as some of the key factors driving this affordability issue.
Last but not least, we broke out into discussion groups and had a very open session where our Brokers told us what they needed from us as a local association to better assist them. We are in the process of developing and implementing improvements from the feedback gathered.
