Foothills Sentry August 2020

Foothills Sentry Page 14 August 2020 Prices climb, interest rates don’t Welcome back! We hit the nail on the head with our last Real Estate update, as home prices continue to climb while interest rates stay incredibly low. Mul- tiple offers have been plentiful as we move into the heart of sum- mer. Buyers are submitting of- fers, even over asking price, with some frustrations. Sellers are experiencing a steady stream of showings, even during these CO- VID times, and sometimes have to choose from a stack of offers. So, why is this a trend? What should we expect here in our lo- cal market as it continues? The combination of low interest rates and low inventory in our commu- nities may be an indication as to why this is occurring. This low inventory trend may continue as homes are snatched up quickly. It is not uncommon to see homes in escrow within less than a week if priced right. While we continue to have state-wide shutdowns, which rocked home sales earlier in the year, the mar- ket has rebounded rather quickly. There is a better understanding of safety issues and realtors fol- low the precautions put in place by the NAR (National Associa- tion of Realtors) and CAR (Cali- fornia Association of Realtors). As some interest rates hover around 3 percent, it’s not uncom- mon to see rates in the mid-to- high 2 percent range. This gives shoppers that extra buying power. Given the market that we are now in, and if the rates continue to stay low, we might see, over the next month or so, a steady stable in- crease in home prices. However, with higher prices and multiple offers, where will it end? My as- sumption is the multiple offer trend will continue through the summer, and may possibly taper off in mid-September. Are you thinking about listing? Jump into the market with a fair price and you might just get those multiple offers over asking price. Looking to purchase? Be pre- pared to go to battle. You might have to lose a few before win- ning that dream home -- so hang in there! Check back next month to see where we are at and what is on the horizon with our local market. Nothing stops the Assistance League of Orange, not even a pandemic. The organization’s mission is to serve the greater community of Orange. Though the majority of philanthropic programs had to be halted, vol- unteer members continued with that mission, even while shelter- ing at home. The organization found new ways to help the community. Members supplied hygiene prod- ucts to Orangewood Foundation; COVID can’t stop Assistance League of Orange provided water toys and activities for the children of Orangewood Children and Family Center; pro- vided grocery supplies for fami- lies at Miracles for Kids; provided Target gift cards for families and McDonald’s gift cards for stu- dents of Orange Unified School District. They made “neck gaiter” masks for OUSD food distribution; do- nated homemade masks, shawls and caps for cancer patients at St. Joseph Hospital, and deliv- ered box lunches to the team who cleans every room in the hospital; and, volunteers made masks for the community. One volunteer, Nina Greville, sewed over 500 masks. Orange Blossom Assistance League of Orange Auxiliary members were charged with pro- viding random acts of kindness within the community. Each was given $100 to distribute at their discretion. One member provided funds to replace a stolen bike.