Los Angeles County saw a 7.1% increase in median home price in October, as compared to the same month a year ago. Dipping by 3.3% was the number of homes sold, according to CoreLogic DataQuick. In October 2013, the median home price in Los Angeles County was $425,000 and 7,038 homes were sold. Last month, by comparison, the numbers were
The first week of the fourth quarter is already behind us. From what we’ve seen thus far, it looks as though we’re off to a promising start in terms of employment and future housing demand. On the employment front, October saw the addition of more than 200,000 new jobs, putting the country on pace to reach approximately 2.3 million jobs
1. Your loan approval letter is from an out of area lender With inventory as low as it is, it’s become commonplace for South Bay homes to receive multiple full priced offers. Listing agents choose how to move forward based on a handful of factors, one of which is the relationship they have with the potential buyer’s lender. If your
Regan Hagestad of Watermark Home Loans and Alex Abad of Palm Realty Boutique discuss how to win in this low inventory real estate market. Regan and Alex look at what real estate agents and Mortgage Brokers/Loan Officers do to make sure their client’s offers gets accepted, as well as some factors that could hurt your chances at securing your dream
Earlier this year, the California Association of Realtors (C.A.R.) conducted a survey to discern what the average California home buyer looks like. The verdict? Today’s home buyer is quite different than their counterparts from even one year ago. Here are a handful of interesting findings from the C.A.R. survey: Today’s home buyers earn more. In 2013, 33% of home buyers netted $150,000 in yearly income. Contrast
Edged out only by our neighbors to the North, Los Angeles tallied 2170 million-dollar-plus home sales between July 1, 2013 and June 30, 2014. Claiming the top spot with 2485 million-dollar-plus home sales was San Francisco, while New York, San Jose, and Houston rounded out the top five with 2145, 1119, and 981 sales, respectively. These figures, which were released
For the past several weeks, mortgage rates have been some of the lowest they’ve been all year. But what does the future hold for interest rates, and how will that affect new South Bay buyers? Just they did with 2014, economists predict that 2015 rates will go into the 5% range for 30-year fixed-rate mortgages. Right now, the average is
Marriage Equality has been a hot-button issue in politics for the last decade, but despite personal and religious beliefs, mortgage regulators in the United States are working towards everyone getting equal treatment when it comes to applying for credit and loans. The Consumer Financial Protection Bureau has just issued a memo about same-sex couples applying for mortgages that officially recognizes all same-sex and
At the beginning of 2014, financial experts predicted rising interest rates well into the 5% range. Their predictions haven’t come true, thankfully, and mortgage rates are still in the low to mid 4% range and mortgages are very affordable. Why were these predictions made, and why haven’t they come true? Well, because the Federal Reserve was going to slowly stop
You may not know this, but we are entering into what may be the best time to buy property in the South Bay in 2014. Interest rates have stayed low, allowing more people than anticipated to participate in the real estate market out here in the Beach Cities of Hermosa Beach, Redondo Beach, and Manhattan Beach. It was predicted by
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