INDUSTRY ANNOUNCEMENTS

SDAR COURSE: RESIDENTIAL LISTING AGREEMENT

Next to the Purchase Agreement, the C.A.R. Residential Listing Agreement (Exclusive Right to Sell) is the most commonly used contract by REALTORS®.

Join Mike Shenkman, UCSD professor, for a classroom training to learn the terms of this agreement and overcome three common objections sellers have to signing the agreement: commitment, price, and commission.

The course is Tuesday, August 22, from 12:00 to 2:00 p.m. at the Kearny Mesa headquarters of the Greater San Diego Association of Realtors (SDAR).

Contact education@sdar.com for registration assistance. Find this and other SDAR courses being offered in-person and online at www. sdar.com/education or call (858) 715-8000.

PSAR: MARKET IN A SLUMP THIS SUMMER

The Pacific Southwest Association of Realtors (PSAR) reports real estate industry experts are predicting much of the U.S. housing market will remain in a slump this summer. In a blog post to its members, PSAR said rising mortgage interest rates have priced-out would-be buyers. In addition, higher rates have led to a worsening shortage of homes for sale. There aren’t enough homes for sale because homeowners are reluctant to relocate and trade up or down, plus give up their record-low mortgage rates, which has left buyers with very little to buy. Meanwhile, some home prices are falling but it’s not enough for market recovery, PSAR said. A report from Realtor.com described the summer housing market as going nowhere fast.

“STARTER HOMES A THING OF THE PAST,” SAYS PSAR

The Pacific Southwest Association of Realtors (PSAR) reports starter homes may be a thing of the past because millennial and Gen Z homeowners aren’t planning to move. In a blog post to members, PSAR cited a National Association of Realtors study that revealed 40 percent of Americans between the ages of 25 and 44, who bought homes in 2022, are planning to stay in them for 16 years or longer. For homebuyers between the ages of 18 and 24, that number jumps to 48 percent. That’s because homebuyers who purchased last year locked in low mortgage rates. Meanwhile, 56 percent of Gen Zers and millennials are planning to purchase a home in the next two years, the study said.

PSAR: NAVIGATING A CHANGING MARKET

The Pacific Southwest Association of Realtors (PSAR) reports homeownership continues to be a solid, longterm investment even in a turbulent housing market. According to Laurie Macdonald, a PSAR 2023 board member who will serve as PSAR 2024 president, consumers can best navigate in an ever-evolving market by working with an experienced, knowledgeable realtor. “Anyone who reads the headlines knows the market has been topsy-turvy the past few years,” Macdonald said. “The market’s ups-and-downs, including tight inventory, soaring home prices and increasing mortgage rates, might have some people questioning if homeownership remains a good, solid investment. However, the answer is still a resounding yes. Real estate is a hedge against inflation, plus it builds wealth for families for future generations.”

SDAR CLASS: HISTORY OF PROP 13

In 1978, California voters overwhelmingly approved Proposition 13 in response to the dramatic increase in property taxes. This proposition has received nationwide attention being the most famous and influential of California’s ballot measures.

Learn the history and impact of Proposition 13 with UCSD instructor Mike Shenkman during a live, informative training at the Greater San Diego Association of Realtors (SDAR) in Kearny Mesa. The class is Wednesday, August 23, from 12:00 to 2 p.m.

Contact education@sdar.com for registration assistance. Find this and other SDAR courses being offered online or in-person at www. sdar.com/education or call (858) 715-8000.