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Powell Fine Homes Group
Search Homes in California
Testimonials

We hired Richard and Kirsten from a 1000 miles away to sell our mother's home and are so happy we did. They were professional, extremely experienced, data driven and personable! They handled pesky details that would have stalled less experienced agents, making the process smooth and painless for us. They were patient listeners with good advice when we got nervous during COVID hiccups. We would give them 6 stars if we could!

by Cat C and Valerie V

I needed a realtor to represent me because I knew that purchasing a home from a family member had the potential to become extremely muddled. I spent a considerable amount of time reading realtor reviews, but Kirsten and Richard Powell stood out from the crowd. Within moments of explaining the family dynamics, I felt completely at ease. They were so responsive, listened patiently, explain the process and assured me they would do everything in their power to be sure the transaction goes smoothly. There was some rough waters to navigate and it was handled with such ease and simplicity, and class! Kirsten and Richard were always available to answer my questions, in fact, they had the answers before I even had questions! I knew exactly what was going on at all times. Throughout the process they made me feel like I was their only client. Everyone says that buying a home is one of the most stressful times in one's life. This was the EASIEST process to go through. The efficiency, professionalism, knowledge, honest and hard work ethic is to be respected and admired. When the need arises again, I will be calling Kirsten and Richard!

by Karen S, Thousand Oaks

Richard and Kirsten are an amazing team who work tirelessly to make things easy for their clients. We first bought a house with them in 2016. And then again in 2020, we sold and bought with them. We would not go anywhere else when it comes to selling or buying a house. They are extremely professional, very reliable, and detail oriented. They made the two transactions so easy for us. They were always available for questions and phone calls. We appreciate their dedication to their clients who they treat as good friends. Richard and Kirsten are always available for any questions/any time even after closing the deal! We would highly recommend them to family and friends. You can tell that they take great pride in their work. They are knowledgeable and take the stress out of buying/selling a house. Thank you both for always having a positive attitude and getting us this beautiful house!!

by Kriti M, Moorpark CA

We can't possibly thank Richard and Kirsten enough for their outstanding work! When I first met Kirsten back in March of 2019, at one of her open houses, our short conversation made me feel that her goal from the very beginning was to establish trust between us. I came home that day and told my husband that when we are ready, I would choose to work with her. Six months later, we reached out to her again and she and Richard found the perfect house for our family in just a few short weeks. Everything seems to have gone by so fast, and to say the process went smoothly is an understatement. The documentation came in and out, inspections got done, negotiations were made, and we didn't feel any struggle or stress. They were both on top of everything and constantly kept us informed! They are both tech savvy, and were always available for questions and advice thru text, email or phone. One of the best things about them is that they let us make our own decisions. They were there to guide us along with their years of experience, but we've never felt any pressure from either of them, and we never felt alone. They are both funny, very easy to work with, and are both incredibly knowledgeable. Richard was probably at the property every day on the first week after our offer got accepted to work with all the inspectors and has continued to revisit the property for various reasons right up until we closed! Kirsten is very thorough with all the documentation that we needed to sign and steps we needed to take. She gave us all the info we needed from the first step to the last! We were nervous and excited, but they both made the entire process of purchasing our first home one of the best experiences we've had! We wish them all the best as they both deserve it!

by Carmela and Kerry, Simi Valley CA
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Are we headed for another housing market crash?
Are we headed for another housing market crash?
Real estate trends in 2021: Are we headed for another financial crash?
Real estate has been on an upward incline since the great recession.  2020 was one of the best years ever but many are asking themselves is this too good to be true?  Are we headed for another crash.  Fortunately, after analyzing the data available, all signs point to the conclusion that 2021 is nothing like 2008

Mortgage standards are much more rigid than they were in the early 2000’s.

 
Lenders are requiring much more stringent qualifications to get a mortgage today.  Leading up to 2008 lenders were providing loans to unqualified home buyers resulting in upside down mortgages, they were taking on high levels of risk and substandard loans.  Today, according to the Housing Credit Availability Index (HCAI) the amount of loans likely to default is under 5%.  The risk assumption in the early 2000’s was closer to 13%.

Good news! We are well below our the pre-crisis level in 2021. Homeowners are in much more secure financial standing and loan default ratio remains low!

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(Graph from Urban Institute 3/17/2021)
 
2021 is NOT 2008.
 
Homes are appreciating, and prices are rising at a fast but reasonable pace
 
While prices are rising steadily and we have had outstanding home value growth in 2020, when you compare home appreciation to the years leading up to the housing bubble – we are nowhere near the chaotic spike that lead up to the recession.
 
2021 is NOT 2008.
 
In 2008 the market was flooded with inventory.  In 2021 we are experiencing an inventory shortage across the country.
 
The early 2000’s was flush with inventory which in turn caused prices to go down. Today, we are greatly lacking actively listed homes and new construction which is resulting in further home value increases.

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(Map provided by National Association of Realtors Homing Shortage Tracker 3/17/21)
 

2021 is NOT 2008.
 
We are experiencing low levels of new construction.
 
Developers have been hesitant to build new construction any where near the scale of the early 2000’s.  While new construction is slowly being developed it is not filling the gaps and definitely not being developed at a scale or pace that would create an over-abundance in the marketplace.
 
2021 is not 2008.
 
Yes home prices are going up – but they still have not exceeded an affordability threshold.
 
Low mortgage interest rates hovering below 3% have contributed to affordability in 2021.  When a mortgage interest rate goes down average monthly payments follow suit.  Leaving homeowners with much stronger footing and safe levels of income to mortgage ratios then the early 2000’s.  In the early 2000’s wages were low, home prices were high and mortgage interest rates were over 6%.
 
2021 is NOT 2008.
 
Equity levels are high and continue rising
 
People have retained equity in their homes this time around.  Choosing to allow equity to accrue instead of tapping into it and cashing out.  This reduces the chance of ending up in a negative equity situation or “upside down” if home prices do drop, homeowners are in a more secure and safe standing than they were in the early 2000’s.  When half of all homeowners have 50% equity in their homes we are much less likely to end up in a situation that results in a stampede of distressed sales that leads to the panic experienced in the early 2000’s.
 
2021 is NOT 2008.
 
Final word on why 2021 is not 2008
 
Know the facts.  When someone comes to you concerned that 2021 is 2008 all over again – ask them to show you the data.  Then share the overwhelming amount of data that does exist that debunks the theory that 2021 is 2008 all over again.
 

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