The Kurt Real Estate Group and Property Management

It’s Time to Buy!

While renters are paying more, affordability is improving for those who own their homes. The number of cost-burdened homeowners declined in 2014 for the fourth consecutive year while today low-income renters are getting squeezed out by theKurtRealEstate painted-front-doors_smaller more affluent.

Three of California’s cities appear on a list recently reported by CNN Money as having the highest rental rates in the country; Los Angeles takes the #7 spot, San Jose claims its place at #6, and San Francisco debuts at #1 on the list. A particularly tight housing market inventory is forcing the wealthy to stay in rentals longer, driving the demand for housing up. This leaves mid- and low-income renters gasping for air while trying to stay afloat during what CNN calls, “last year’s biggest surge in new renters history” with low-income renters feeling the hit.

Although builders are inclined to focus on producing luxury apartments that yield higher investment returns to support the rental market at hand, they are also aiming to ramp up their efforts to increase lower-end homes for sale. This means that while more Americans struggle to make rent, homeownership viability is on the rise. According to the Joint Center of Housing Studies at Harvard University, in 2014 a shocking 11 million people put at least half their income toward rented housing while 21.3 million who spent 30% or more of their paycheck. Unfortunately for renters these days, 2016 trends are following suit. CNN reports,“Rents have been rising faster than wages recently, which has caused an affordability issue for many renters.” With California taking the ranks in soaring rent prices, there is no doubt that industry aims to dip prices for prospective homeowners will provide some much needed relief from renter’s remorse.

Market Trends
July 2016

Things Looking Up

Costa Mesa Real Estate Kurt GalitskiInternational real estate activity remains positive as foreign buyers continue to view the U.S. as a desirable place to own property; according to the National Association of REALTORS®’ 2016 Profile of International Activity, U.S. residential real estate sales to international clients accounted for $102 billion between April 2015 and March 2016.

Although comprising a small percentage of overall clientele, international buyers are a critical piece of the real estate market, functioning as the connection between realtors in local markets and the wide world of international clients abroad. Typically, foreign buyers tend to acquire more expensive properties so, for the housing market here at home it’s good news that the outlook for international activity remains positive.

California is one of five states that accounts for the 51% of total residential purchases by international clients. In effect, the trend of foreign real estate activity on a local level is of particular interest due to its direct and vital impact on the local real estate community within the domestic housing marketplace. According to a 2016 NAR survey, “44 percent of respondents expect increased activity with international clients” which, in turn is “a positive sign of the strength of the U.S. real estate market.” In order to ride this wave of international buying power, realtors who wish to expand their business abroad will need to fine tune their specialized knowledge of these particular buyers. NAR states, “Cultural affinity and knowledge of client preferences may also play an important role in nurturing relationships with international clients,” a small price to pay for a relationship with international buyers who continue to step up their purchases.

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Open House Saturday the 17th! Mesa Verde Upper Birds Street Custom Remodel – Costa Mesa, CA – $998,900.00
Main Photo
Bedrooms: 4
Bathrooms: 3
Year Built: 1966
Subdivision: Mesa Verde
Lot Size: 7405
Garage Size: 2 Car
School District: Newport Mesa
Square Footage: 2208
Agent Name: Kurt Galitski
Broker: Weichman Realtors
MLS #: PW14240185
Year Last Remodeled: 2014
Price: $998,900.00
2734 Cardinal Drive
Costa Mesa, CA 92626
  • Range/Oven
  • Dishwasher
  • Sink Disposal
  • Microwave
  • Fireplace
  • Hardwood Floors
  • Kitchen Island
  • Patio
  • Fenced Yard
  • Grass Lawn
Mesa Verde Upper Birds Custom Remodel! This 4 bedroom has had nothing left untouched! Freshly painted inside and out! Remodeled open concept kitchen with granite counters, stainless steel appliances, full slab kitchen island is ready to be the center atraction of all your holiday parties! Upgraded bathrooms. New hardwood flooring, travertine entry, crown moldings annd carpet throughout. Master bedroom features attached custom bath with rain shower. Front yard has been professionally landscaped. Possible RV access. You must see to appreciate!

Kurt Galitski
Powered by Equal Housing Opportunity VFLYER ID: 284772016
All information in this site is deemed reliable but is not guaranteed and is subject to change
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Estancia High School News From Principal Kirk Bauermeister

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The Eagles are flying high literally all over the world. Our students from EHS have represented us well this summer, from outstanding performances at a summer cheer camp, to the Hall of Fame induction ceremony in Canton, Ohio, to Australia. Also attached is a picture of some of our campus upgrades over the summer.

Cheer Camp Awards;
· Spirit Stick

· Superior Plaque

· Unity Award

· 4 All-Americans

· 5 American Needs Cheerleaders Awardees

· 5 APPED for USA – these students were asked to apply for USA staff.

Here is a story about Ron Urquiza from the Daily Pilot about his trip to Canton Ohio for the Hall of Fame induction ceremony.

Our Australian Exchange program has sent these students (picture attached) over to Windham, Australia to Hopper’s Crossing Secondary College. They will be there for approximately three weeks and will be Ambassadors for EHS and the City of Costa Mesa. It is a life changing experience for all involved.

As you can see we have many Eagles making a difference in our community (including helping out at the Summer Sports Camp) and around the world.

School starts in a month!

Thanks for your continued support of EHS.

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Kurt Galitski’s Life In Costa Mesa

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Kurt Galitski’s Life In Costa Mesa

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