In California, increased interest rates don’t necessarily equate to a drop in price or consumer confidence. It may actually get people off the fence and create an increase in sales.
Yorba Linda, CA (PRWEB) August 19, 2015
The future of California's real estate market will be the main topic of discussion at this year's “I Survived Real Estate” panel discussion Oct. 16 at the Nixon Presidential Library in Yorba Linda. There top real estate experts will present their forecasts for the coming months while addressing industry concerns.
Currently California real estate inventory supply is low, unemployment is down, and affordability is relatively high. In past California cycles, this formula meant big price gains, a strong move-up market, and robust building employment. This time, that’s not happening. What gives?
“A few California markets are at record price levels due to a combination of low interest rates, tremendous foreign investor interest, and extremely good employment numbers,” says Bruce Norris, President of The Norris Group and host of "I Survived Real Estate."
However, there are many markets where prices are stagnate. Despite low interest rates and low inventory, buyers are still hesitating or are being told “No” by lenders. With no lending relief in sight, what’s ahead for the California market is a big question mark for the real estate industry.
Norris has assembled a panel of real estate experts to address the current state of real estate and its implications for consumers and real estate professionals during his 8th annual “I Survived Real Estate” charity gala Friday, October 16, at the Nixon Presidential Library in Yorba Linda.
The black-tie, dinner event will address many topics including the latest statistics on home prices, distressed inventory, builder sentiment, ownership trends and the outlook for relaxed lending guidelines in the coming year.
“Yellen has signaled interest rate hikes are around the corner,” Norris said. “In California, increased interest rates don’t necessarily equate to a drop in price or consumer confidence. It may actually get people off the fence and create an increase in sales.”
The expert panel for this year’s “I Survived Real Estate” charity gala include:
- Doug Duncan, Chief Economist for Fannie Mae
- David Kittle, Senior VP, Federal Solutions
- Leslie Appleton-Young, Chief Economist for the California Association of Realtors
- Eileen Reynolds, Chair of the California Building Industry Association
- Sean O’Toole, President of PropertyRadar
The panelists will provide important insights into what real estate professionals can expect to see in the coming months and beyond, according to Norris, who has built a following in the real estate community and with news reporters after producing consistently accurate real estate forecasts.
Ward Hanigan, long-time San Diego investor, will receive the Rohny Lifetime Achievement and Mentorship Award. This marks the second year of this award which honors the hard work and dedication of individuals that have shaped the real estate investment industry.
Proceeds from the Oct. 16th “I Survived Real Estate” event will be donated to Make-A-Wish® Orange County and the Inland Empire, and to St. Jude Children’s Research Hospital. The event has raised over $540,000 for charity in the past seven years.
On Saturdays leading up to the event, Norris will interview panelists and other leading experts about current market conditions as he prepares for the October event. Norris regularly interviews economists, government officials, association presidents and other industry thought leaders on his weekly real estate radio talk show, which airs at 6 p.m. Saturdays on KTIE 590 AM in the Inland Empire. Podcasts of Norris’s radio interviews can be accessed through his company website, http://www.thenorrisgroup.com.The Norris Group is a California-based hard money lender and real estate investment firm.
“I Survived Real Estate” has more than 25 sponsors, including HousingWire, PropertyRadar, the Apartment Owners Association, InvestCLUB for Women, the San Jose Real Estate Investors Association, Realty 411 Magazine, the San Diego Creative Investors Association, MVT Productions, Wilson Investment Properties, and White House Catering.
For tickets and other information regarding the October 16th event, visit http://www.isurvivedrealestate.com. Reporters seeking interviews with Bruce Norris and panel participants before or after the event should contact Aaron Norris at (646) 418-4437.