Published June 8, 2023

June 2023: How To Buy A Home In Today’s Market

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Written by Marcus Ibrahim

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Team Ibrahim Real Estate Update | June 2023
CLICK  FOR 1 MIN MARKET UPDATE
CURRENT MARKET STATUS
How’s the Market? (In 60 seconds)

  1. Mortgage Rates are up since the beginning of May and down again in the last 2 weeks. We hope they keep trending down for the sake of our active buyer clients. In my opinion, if rates were to keep coming down, the best time to buy would be before that happens so that you can weed out some of the competition and refinance later; however, hindsight is 20/20 and it’s impossible to time a market perfectly. Just make the move when you can afford it and practice being content in the meantime  
  2. Home Sales and Prices went up then down again in 2022 and ended where they started. That was the most volatile year for sure. In 2023, prices are up 10% from January 2023 to June 2023.
  3. Housing Inventory is just barely starting to turn the corner and climb this month. 
  4. Foreclosures are up slightly in the first quarter of 2023, but experts don't foresee a wave of foreclosures in 2023 because most homeowners have equity to weather the storm.

Thinking of Buying? Timing the market is tough to do. When you find a home you love, meets your needs, and fits your budget, go for it!

Considering Selling? Ask us for a free home value analysis and tips and tricks we have learned over the years to maximize your value!
Have other questions? We're here to support you. Reach out anytime!
Happy Father's Day!
We are so grateful for our fathers and father figures who have guided, provided for, and protected us! We hope you have a wonderful Father's Day with your loved ones!
Things To Do With Dad 
?on June 18
Private Surfing Lesson: Learn how to ride the waves. More info
Petersen Automotive Museum: Classic car collection. More info
Hollywood Bowl: Jazz festival under the stars. Tickets here
Getty Center: Explore art collections and stunning architecture. More info
Dodger Stadium: Watch the Dodgers vs. Padres. Tickets
Spend a Night (or Two) Camping: Campsites here
California Science Center: Discover interactive science exhibits. Plan visit
Santa Monica Pier: Amusement park rides and ocean views. Plan your visit
Pacific Coast Highway: Go for a scenic coastal drive.
Go Hiking: Popular trails here
Los Angeles County Museum of Art (LACMA): Explore art collections. Plan visit
Are you curious about the value of your home?
RECENT TEAM HIGHLIGHTS 
PENDING: Single Family Home in Redondo Beach, CA
4 Bed | 2 Bath | 1,752 Sq Ft

Beautiful single story ranch home close to the beach with hardwood floors, great outdoor space, and plenty of potential to update and add equity.

 Congratulations to Our Buyers! 
LISTED: Turnkey Condo in La Mirada, CA
1 Bed | 1 Bath | Private Patio & Garage

Turnkey first floor condo in the 55+ active adult Landmark Community with 24 hour gated security and extensive amenities that will make every day feel like a vacation. This one will go fast!
CLOSED: $80,000 
ABOVE LIST!
San Bernardino, CA
2 Bed | 2 Bath | 739 Sq Ft

Welcome to this FULLY REMODELED, modern 2 bed, 2 bath home on a 6,750 sq ft lot, with a new roof, new luxury vinyl plank floors, custom designed bathrooms, and a new kitchen with quartz counters. Enjoy the expansive front yard with your family and friends and relax in the tranquil and private backyard. This home has been lovingly remodeled from head to toe with a nod to Eichler and mid-century modern styling.

 Congratulations to Our Sellers! 
Check-out our 5 STAR Client Review!
"They held our hands tight all the way through the process, from market research to site visits to closing, making a great personal and professional impression on all parties we dealt with along the way."
We are first-time home buyers and we are so happy that we chose Marcus and Helen as our agents! They were so patient with us, never rushed our decision-making, went far and beyond to research every property we were looking at, indicated hidden risks, and helped find answers to all of our questions. Marcus has built an amazing team that works together like a clock, around the clock. They held our hands tight all the way through the home buying process, from market research to site visits to closing, making a great personal and professional impression not only on our family as their clients but also on all other parties we dealt with along the way. Marcus and Helen Ibrahim are our dream team! We'll definitely work with them again. We have not only acquired a great real estate agent but also a good family friend!
~ Katya & Alex

NOT FINDING WHAT YOU'RE LOOKING FOR? ASK US ABOUT OUR 
OFF-MARKET OPPORTUNITIES!

How can we help you today?
Over 130 Homes Sold
Please reach out anytime!

We are always available.

REALTOR® 
eXp Realty of California, Inc.

Call/Text Marcus: 
(626) 605-1840

Call/Text Ashley:
 (626) 727-7226

Call/Text Gene:
 (626) 414-5462

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