QUARTER 1 | Updated: January 15, 2025

 

WHAT TO EXPECT IN 2025

Finding your new home is an exciting journey! As you prepare for your move to the Conejo Valley, it’s important you understand the current market and how it might influence your decisions along the way. As a Realtor, I follow the local trends so you don’t have to sharing my expertise along the way and guiding you from start to finish. MY GOAL: To help you find a home you’ll love. 

Below are some common concerns that many homebuyers have, along with my tips on how to best position yourself to make informed choices when finding and purchasing your next home:

 

 

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MORTGAGE RATES ARE TRENDING DOWNWARDS

2024 RECAP: Rates peaked in May at 7.22% and ended the year at 6.8%.
2025 FORECAST: Rates are expected to hover between 6% and 6.5%, but fluctuations are possible.

💡 MY ADVICE

  • It’s wise to accept that rates in the 6s are the “new normal” and to plan accordingly.
  • Waiting for a significant rate drop in an already appreciating market may lead to increased competition from other buyers driving prices up further.
  • REMEMBER: Purchase price is forever, mortgage rates can be temporary. 

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START THE LOAN PROCESS EARLY

Financing is often the biggest hurdle for buyers, but lenders are eager to work with you. New loan programs make rates more manageable.

💡 MY ADVICE

  • Minimally, get pre-approved for a loan before you start house hunting.
  • Talk to at least one big bank (BofA, Chase, etc) and one mortgage broker. The big banks are best for highly qualified buyers with fully documented income. Mortgage brokers are best for everyone else. But it’s still good practice to talk to both no matter your situation.
  • Going one step further and getting a fully underwritten pre-approval ahead of time can greatly increase your negotiating power when competing with other buyers.

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HOME PRICES ARE EXPECTED TO RISE

Lower mortgage rates are bringing buyers back to the market which is expected to cause home prices to increase.

CONEJO VALLEY UPDATE: Median prices ended 2024 at $1,018,000, below the 2022 peak of $1.315,000, but trending back upwards.
FORECAST: The California Association of Realtors predicts a 4.6% increase in 2025, while Conejo Valley may see even higher growth.

💡 MY ADVICE

  • Demand for Conejo Valley homes remains high. With limited inventory and no plans for large new home developments, steady price increases are expected to continue. Think long term.  
  • Timing the market is more luck than strategy—consider buying when you’re ready vs. trying to time dips in mortgage rates.

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INVENTORY IS IMPROVING, BUT IT’S STILL A SELLER’S MARKET

Low inventory continues to shape the market as many homeowners are reluctant to sell and give up their low mortgage rates.
HOWEVER, inventory has been improving incrementally each month giving buyers more options and helping to keep home prices in check.

💡 MY ADVICE

  • Inventory typically builds starting at the beginning of the year peaking around May/June, slowing a bit in summer, then picking up again in the fall up to the holidays.
  • If you find a home you love, act quickly. With low inventory, it’s safe to assume there are probably other buyers feeling the same way.

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YOUR COMPETITION ISN’T WHAT IT WAS

In other words, it will be easier to buy in 2025 than it was in the last few years. The frenzy of selling on a weekend with dozens of offers over asking price is behind us…for now. While multiple offers are still common, the competition is less intense. Instead of competing with 10+ buyers, you’re likely looking at closer to 1 or 2 – or none at all.

💡 MY ADVICE

  • Low offers are still unlikely to be accepted. Sellers know inventory remains in their favor and would rather wait it out than take a lowball offer.
  • However, for homes sitting on the market (30 days+), sellers are realizing their asking price may be too high and are typically more willing to negotiate.

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OBTAINING FIRE INSURANCE CAN COME WITH CHALLENGES

The horrific fires that struck Southern California in January put more pressure on an already challenging situation. Unfortunately, this is an issue that’s not going away any time soon.

💡 MY ADVICE

  • If you find a home you are considering making an offer on, contact an insurance broker ahead of time to get an idea of the insurability of the property and a ballpark price estimate – especially homes by hills and/or open space.
  • WORST CASE: Buyers can utilize the fire insurance provided through the California Fair Plan as a last resort.

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SELLERS ARE MAKING CONCESSIONS AGAIN

The days of buyers waiving contingencies up front and offering extras to win a deal are gone…sellers are now more willing to negotiate repairs or other terms.

💡 MY ADVICE

  • Sellers in both Ventura and L.A. Counties are only required to do 3 things: strap the water heater for earthquake safety, install smoke detectors, and install carbon monoxide detectors. That’s it. Everything else is negotiable.
  • However, broken items and safety concerns are fair game. Don’t hesitate to ask for repairs or concessions—most sellers are open to reasonable requests.

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SO…CAN YOU EXPECT TO BUY A HOME IN 2025?

Yes! The housing market is rebounding, and opportunities are emerging. By taking  time to understand the market and set your expectations now, you’re already one step ahead…lean into the excitement of the journey.

 

NEXT STOP Finding & Buying Your New Conejo Valley Home. 

I believe finding the right home starts with finding a community and neighborhood that fits your desires, needs, and lifestyle.
MY HOPE: To help you make informed decisions, avoid pitfalls, and achieve your home-buying goals.

 

Let’s Connect!

 

 

3 STEPS TO FINDING THE HOME YOU’LL LOVE

As Your Neighborhood Expert: I know the nuances of the homes and neighborhoods throughout Conejo Valley. I’ll help you focus your search towards areas that fit your wants and needs.
As Your Realtor: I’m here for you. Prioritizing your interests and offering guidance tailored to your unique situation.

 

STEP 1 | PHONE CALL AND ZOOM MEETING

We’ll start with a phone call to discuss your move and how I can help. Next, we’ll schedule a Zoom meeting where we go over a map of the Conejo Valley. I’ll give you an overview of our 5 towns and we’ll discuss the nuances of each one. Then we’ll go through my Buying Guide and the home buying process in CA. We’ll also have a more detailed conversation about what you’re looking for, what mistakes to avoid, and how I will help you be successful.

 

STEP 2 | AREA & PROPERTY TOURS

This is the fun part…and your time to visualize yourself living in your potential new home! By getting to know the towns and nuances of the Conejo Valley first, we can focus our search on neighborhoods that offer the things most important to you.

If you’re new to the area (or need a refresher), we’ll get in the car for an area tour. I’ll show you some of our best amenities and drive you through neighborhoods that may work for you. I offer this at no cost or commitment. It’s an opportunity for you to get to know the area and for me to demonstrate my expertise. By the end of the tour, my goal is for you to feel that I am the right person to help guide you with your next home.

Next, we’ll start visiting homes in person. I’ll give you your space to explore the house freely and see if it feels like home to you. I’ll share my thoughts and opinions to help you make a good choice and avoid any potential hidden costs.

 

STEP 3 | SUBMITTING OFFERS GETTING YOUR KEYS

Negotiating offers and navigating escrow can be complicated. As a full service agent, I work for you. I am your advocate, ensuring you make informed decisions, avoid pitfalls, and ultimately help you find a home that you’ll be happy in for years to come!

 

The Conejo Valley is a great place to live. You’re going to love it here!

 

Let’s Connect!