Buyer traffic is likely increasing so much because of the severe shortage of existing homes for sale. Realtors are reporting the lowest supply on record and are not expecting the situation to improve anytime soon. While housing starts did rise steadily throughout 2017, they did so very moderately and are still not close to historically normal … [Read more...]
Go Small or Go Home
Sales prices jumped 7 percent annually in November, according to a new report from CoreLogic. That is the third straight month at that pace, far higher than the price gains in the first half of 2017. Low supply and high demand are fueling the spurt and neither of those is expected to ease up anytime soon. With affordability constraints … [Read more...]
The Great Divide
Urban areas have benefited in recent years from an influx of younger workers seeking high-paying jobs. At the same time, land-use regulations have constricted supply, helping drive up prices. While the wealthiest homeowners had a rocky ride during the past decade, their homes have recovered most or all of the value they lost during the … [Read more...]
Home Flipping in California
Nearly 40,000 people flipped their properties in the second quarter this year – the most since the second quarter of 2007, according to a recent report from ATTOM Data Solutions. The company analyzed public sales deeds of more than 950 counties, representing 80% of the U.S. population, on homes that were bought and then sold within a 12-month … [Read more...]
Real Estate Firms Remain Optimistic
Good news: the vast majority of real estate firms have an optimistic outlook for the future of the industry’s profitability and growth, according to the National Association of Realtors® (NAR) 2016 Profile of Real Estate Firms. Profitability expectations have declined from the 2015 survey, mainly due to inventory shortages and home-price growth, … [Read more...]
The Fed's Possible Interest Rate Increase
The Federal Reserve's path to a rate increase is a treacherous one: a path paved with easy money from other global central banks and lined with a gauntlet of possible hazards. The markets may not believe the Fed will actually raise interest rates this year, but it may surprise them with at least one hike late in the year. In fact, there could be … [Read more...]
San Diego Home Lender Testimonials
Stephanie Nisan - RealtorMaureen and I were actually introduced through a mutual friend over our love of dog rescue. I run a non-profit call The Animal Pad and an all breed animal dog rescue and Maureen became our volunteer director. Professionally, I am not a big fan of lenders and I decided, okay, I’ll give Maureen a shot and took one … [Read more...]
Lunch N Learn Radio Interview
Eran Sinai: Happy Wednesday everyone! Eran Sinai here; Consumer Guardian Law, Lunch N Learn Radio. You can listen to us. You should be listening to us, especially today. ESPN 1700 a.m. or watch us live, and you do wanna watch us today. I’m telling you, lunchNlearnradio.com. I have here two great people, good old friend, I mean she is … [Read more...]
San Diego Refinancing Options
Application Volume Up, Down, Up, Down...The results are in: the Mortgage Bankers Association said today that applications during the week of October 23rd decreased by roughly 3.5% – adjusting seasonally from the previous week.Granted the accounted for data increased 7% on an unadjusted basis, taking into account for Columbus Day. While this … [Read more...]
Home Sales Increasing in San Diego as Rates Stay Low
The Housing Market Is Breaking RecordsIn the most recent report from the National Association of Home Builders, existing home sales skyrocketed in April to their highest annual levels since October 2013. This surge has been fuelled by pent up demand, as well as sustained job growth and a long stretch of low mortgage interest rates.The growth in … [Read more...]