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
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
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
Because of the rise in interest rates recently, many homeowners have not been able to get the funding they needed to purchase their properties. Since 2008, lenders have also become more strict. Hopefully, there are new signs that they may be loosening up a bit and opening up more financing to eager buyers. Down payments have gotten slightly smaller (the
The national debt ceiling is due to expire this month on October 17th, and the importance of this has been downplayed because of the current government shutdown, but it is a very real issue we must also consider. The federal debt ceiling, if not raised, can have prolonged effects on the economy and consumer confidence. The stock market could fluctuate
The ongoing shutdown of many government agencies will definitely affect real estate, but the short-term effects will not be so easily noticed. If the shutdown lasts longer than a few weeks, we may see more significant problems such as the affordability and access to mortgages, which could in turn reduce the demand for housing and home building. Also, the debt
When the Federal Housing Finance Agency lowers the cap on federally backed mortgages, what will the impact be on our local real estate market in 2014? In January of 2014, the cFederal Housing Finance Agency will reduce the conforming loan limit (which is currently have $625,500) by one hundred thousand dollars or more. The FHFA has not announced exactly how
Home Prices Are At An All-Time High According to the latest quarterly report by the National Association of Realtors, despite rising home values and higher mortgage rates, buyers are still in a pretty good position to afford a home. In the South Bay real estate market in neighborhoods like Manhattan Beach, Redondo Beach, and Hermosa Beach, the median existing single-family
We seem to be hearing more and more about how our economy is getting stronger; that we’re recovering from the recession. But is it true, or is it only that the numbers are starting to look better? For instance, in June 2013, The Wall Street Journal reported that according to the US government’s Household Survey, overall, jobs increased by 753,000.
© 2024 Regan Hagestad | Privacy Policy