Ken Slaught On California’s Market Trends in 2018

Many West Coast buyers are finding that they need to pay excessively high prices for older, less fashionable homes.

Santa Barbara, CA - February 14, 2018 /MarketersMedia/ —

Expert real estate agent Ken Slaught has found that the key to success in California’s real estate market is not solely in one’s ability to manage a large team or have a wide breadth of knowledge about the current market, but lies in the pure facts of what the state has to offer. As a key figure in the Southern California residential, commercial and industrial property scenes for more than thirty years, he has weathered unexpected variance and bested trends. With his wide-ranging experience and understanding of the acquisitions that shape the state he has called home since childhood, Slaught shares his insights about the unique nuances of the California market; these distinctions include the ability to recognize purchase opportunities and pitfalls, and astute knowledge of the myriad extraneous influences that affect the Golden State.

With a white-hot housing market, many West Coast buyers are finding that they need to pay excessively high prices for older, less fashionable homes. Ken Slaught notes that costs have been steadily climbing since 2008, and common reference, the Standard & Poor’s Case-Shiller home price index, reveals that Los Angeles home prices rose to their highest point during April of this year since October 2007. Having moved beyond mere recession recovery, Southern California’s larger metropolitan areas are closing in on their former peaks. Slaught says the turnaround can be attributed to a number of factors, which include interest rates, job growth and supply and demand. As current 30-year, fixed-rate mortgages are hovering around 3.5% or less, these enticing numbers nearing 3.31 percent (the record low hit in November 2012) are pushing many toward buying. These historically low rates, coupled with strong employment numbers, such as a 2.4% gain in Los Angeles County and a 3.5% rise in Orange County, makes it clear just why values have appreciated in an extraordinarily fast-paced manner. And although home prices vary considerably statewide, the inflated asking price of higher-end homes outpaces all other states with the exception of Hawaii. The feverish demand for housing cannot currently be met by the slim supply available, with many first-timers forced to opt for condominium-style units: obtainable and within a more modest price range.

Other factors influencing the current situation that are particularly Californian in nature can be traced back to a general scarcity of land in desirable locations. Undeveloped land costs are prohibitively high, especially within the Los Angeles and San Francisco areas. Ken Slaught points to regular delays in construction of new project, which result in many owners choosing to stay put and renovate, as Proposition 13, the 1978 amendment to the state’s constitution, has made relocating a daunting choice. Though the law states that future property tax increases are capped at 2% based on 1975 assessments, the exorbitant exception takes place when a sale is executed, and a property is reassessed based on its current sale price. Ultimately, yearly totals are framed by purchase figures that vary monthly, as demand in California shifts seasonally (with most homes moved in June and a small increase at year’s end). Also affecting yearly totals are asking prices, interest rates, consumer confidence, negative equity status, quantity and quality of homebuyer jobs, disposable income, saving rates, and elements like major foreign investments.

Since founding Investec Real Estate Companies in 1983, Ken Slaught has led the firm through the execution of more than $1 billion in property transactions. As president of the most successful real estate management enterprise in Santa Barbara, he has been primarily responsible for establishing the company’s strategies and policies, determining its asset class allocations and overseeing its investment decisions. Mr. Slaught is a member of the California Association of Realtors, the Building Industry Association of Southern California, and the Santa Barbara Rental Property Association; he is also affiliated with the Institute of Real Estate Management and the Urban Land Institute. The long-time resident of Santa Barbara is actively involved with a wide range of philanthropic organizations and remains devoted to strengthening all aspects of his community.

Ken Slaught - Founder & President of Investec Real Estate: http://kennyslaughtnews.com

Ken Slaught - Investec Founding Principal & President: http://www.investecrealestate.com/kenny-slaught-2

Investec Real Estate: Santa Barbara Commercial Real Estate: http://www.investecrealestate.com

Contact Info:
Name: KSN
Email: kenny@kennyslaughtnews.com
Organization: KennySlaughtNews.com

Source URL: https://marketersmedia.com/ken-slaught-on-californias-market-trends-in-2018/300892

For more information, please visit http://www.kennyslaughtnews.com

Source: MarketersMedia

Release ID: 300892

More News From Thailand Tribunal

Thai police probe suspected illegal e-waste recycling

May 28, 2018

BANGKOK — Thai police have raided several factories near Bangkok that allegedly were using a loophole to illegally import and process electronic waste. Police and industry ministry officials said Friday that they were still investigating after raids this week on at least four factories in industrial parks in the outskirts of the capital that found nearly 100 tons of electronic waste such as discarded computers, computer display screens, old mobile phones and other items. "These factories have not received permission to operate and will be closed pending further investigation into the cases," said Weerakit Runthakithanarat, a ministry official in Chachoengsao...

Global stocks subdued as US mulls auto import tariffs

May 28, 2018

BANGKOK — World stock markets were subdued Thursday as carmakers' shares fell after the Trump administration said it was investigating imposing new tariffs on imports of autos and auto parts. KEEPING SCORE: Germany's DAX was flat at 12,975 and the CAC 40 in France rose 0.4 percent to 5,589. The FTSE 100 in Britain was down 0.1 percent at 7,782. Futures for the S&P 500 were flat while the Dow futures edged down less than 0.1 percent. TRUMP ON TRADE: China, Japan and the European Union condemned the Trump administration's decision to launch an investigation into whether tariffs are needed...

Thai court grants bail to detained pro-democracy activists

May 28, 2018

BANGKOK — A court in Thailand granted bail Thursday to 15 pro-democracy activists who were arrested earlier this week during a protest against military rule at which several thousand police were deployed. Krisadang Nutjaras, a lawyer for the student activists, told reporters they applied for bail after the court agreed to a police request for a further 12 days' detention. It was set at 100,000 baht ($3,100) for each person, he said. Police have charged each activist with several offenses, including violating a ban on political assembly and obstructing officials. They are required to report back to authorities in eight...

Asian shares mixed after Fed gives Wall Street a boost

May 28, 2018

BANGKOK — Shares were mixed in Asia on Thursday after U.S. stocks reversed early losses and finished higher as investors appraised the Federal Reserve's signal that it is not in a hurry to raise interest rates. KEEPING SCORE: Japan's Nikkei 225 index fell 1.2 percent to 22,418.18 and the Kospi in South Korea slipped 0.3 percent to 2,464.74. Australia's S&P ASX 200 gave up 0.2 percent to 6,021.60 and the Shanghai Composite index was down less than 0.1 percent at 3,167.83. Shares rose in Indonesia, Taiwan and Singapore but fell in Thailand. WALL STREET: Shares recovered from early losses after...

Thailand to up controls on paraquat, other farm chemicals

May 28, 2018

BANGKOK — The Thai government said Wednesday it will allow continued use of the toxic weed killer paraquat and two other farm chemicals despite mounting concerns over health risks, but plans to tighten controls on how they are utilized. The expert Committee on Hazardous Substances Control asked the Department of Agriculture to come up with new guidelines within two months, Somboon Yindeeyoungyuen, deputy permanent secretary of the Ministry of Industry, told reporters. "The committee gave many recommendations and ideas to the DOA to consider, for example, allowing only registered sprayers to use herbicides, training farmers on safety measures, restrictions on...

About Us

Thailand Tribunal is the country’s next generation of digital news portal, bringing you non-stop news on the happenings in the country and all over the world.

Contact us: sales[at]thailandtribunal.com