OC Housing Report

Not About The Price

EVERYONE IS INTENSELY FOCUSED ON THE PRICES OF HOME WHEN THE REAL FOCUS SHOULD BE THE ABILITY TO WRITE A
CHECK FOR THE MONTHLY MORTGAGE PAYMENT.

Everyone is acutely aware that home prices have been soaring for the past year-and-ahalf. They have far exceeded the runup in values prior to the Great Recession. This has
many people on edge, wondering how values can continue to rise beyond their current record highs. In focusing just on prices, it is no wonder they fear an end to the pandemic
housing run. In analyzing the housing market and where it stands today, home prices are a critical component, yet household incomes and mortgage rates are equally important factors as well. As household incomes rise, families’ monthly paychecks rise. As interest rates drop,home buyers are looking at smaller monthly payments.

Buyers should ultimately approach the home purchasing process by taking a careful look at their family budgets. What a buyer pays should be in alignment with their budget
and monthly payment comfort level. After purchasing, buyers will be sitting down and writing a check out to the mortgage company each and every month. After closing
escrow, they will no longer care too much about how much they paid for their home. Instead, they will care about the monthly mortgage payment that is deducted from their
checking account for the next 30 years.

About the Author

Tim Morissette, also known in the community as Mr. Foothill Ranch, offers over 44 years of real estate experience which has given him an established reputation and unmatched market knowledge. He is joined by his wife, Michele and son Matt, as they continue to offer personal service with an emphasis on achieving his clients’ real estate goals.  This unique combination of traits has led to his proven track record of referral and repeat business. This can be witnessed by the trust of homeowners in Foothill Ranch where he has sold twice as many homes and represented three times more buyers than the next-leading real estate agent for the last 25 years.

As residents of Foothill Ranch since 1994, Tim and Michele are actively involved in the community by fundraising for Foothill Ranch Library, Make-a-Wish Foundation, Cancer Society, Homes for Habitat, Relay for Life, South County Outreach, and the local church and schools. Tim enjoys sponsoring community-wide garage sales, as well as sponsors Paper Shredding and E-Waste Recycling events twice a year.

Tim and Michele are dedicated to their family of four sons, daughter-in-laws, and grandchildren. As a family, they enjoy many outdoor activities which include camping, spearfishing, mountain climbing and exploring the miles of hiking and equestrian trails in Foothill Ranch and the Whiting Ranch Wilderness Park. Tim and his sons are also avid snowboarders and enjoy mountain biking and lobster diving. Family is a top priority in the Morissette household. They look forward to helping more families achieve their dreams of homeownership.