The brewing California housing crisis

Posted: 8/29/2017

New California economic reports show that we are currently head deep in a new housing crisis. Homeownership, once part of the American dream, is at its lowest rate since World War II. Roughly half of the state’s homeowners are struggling to afford their mortgage and 70 percent of lower income Californians see most of their paychecks go {...}

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Peak summer markets and increasing interest rates

Posted: 7/12/2017

According to the newest market data from Realtor.com, 40% of the busiest housing markets this summer are in California. With a housing shortage and limited numbers of homes for sale, prices have continued to increase. With home prices rising, middle and lower income buyers are struggling to find affordable homes as new listings are {...}

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Are we in another real estate bubble?

Posted: 5/24/2017

Five years after housing prices bottomed out, cities such as Los Angeles and San Francisco have seen housing values reach the records set in 2007. Home values have recovered from the recession in wealthier areas, including near the coast or on hillsides. The median home price in LA County has hit $550,000, sparking new fears of housing {...}

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What the new hike in rates means for homeowners

Posted: 3/22/2017

The Federal Reserve voted 9-1 last week to increase the key short-term rate by a quarter of a percent. Mortgage rates, credit cards and home equity loans are expected to be impacted. Higher mortgage rates have the potential to lower the demand for home purchases, which can the cause housing values to plateau or drop. If income from {...}

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Distressed Sales Drop

Posted: 2/07/2017

The 2016 Home Sales Report, released by ATTOM Data Solutions, shows that 16.2 percent of property sales across the nation in 2016 were short sales or bank owned foreclosure auctions. Trending down from 18.8 percent of home sales compared to {...}

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Chinese Real Estate Bubble Could Sink Global Economy

Posted: 11/14/2016

Economists are beginning to sound the alarm about a looming Chinese real estate bubble, which could put the brakes on the U.S. economic recovery. Hu Shuli, chief editor of Caixen Media in Beijing states that “The ratio of mortgage payments to a buyer’s income indicate that on a relative basis, China’s current housing prices are now more {...}

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HAFA short sale relocation funds expiring soon

Posted: 9/21/2016

The Home Affordable Foreclosure Alternative (HAFA) program is a federally backed short sale program aimed at assisting distressed homeowners. The program offers many benefits, including possible relocation funds of up to $10,000. Currently, HAFA is set to expire at the end of this year and all applications must be submitted before {...}

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New laws underway for distressed homeowners

Posted: 8/23/2016

In another move to help distressed homeowners, California’s assembly moved a step closer in creating legislation designed to protect widows, widowers and other heirs from foreclosure. Senate bill 1150 and the Homeowner Survivor Bill of rights will now go to the Senate for approval. Created by Senators Mark Leno and Cathllen {...}

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Foreign investors pricing many out of market

Posted: 6/28/2016

According to the newest reports from the California Association of Realtors, housing values and home sales have seen a modest increase over the past three months and continued economic growth is visible going forward. Tight housing {...}

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Housing affordability becoming issue again

Posted: 5/06/2016

The housing market in California has seen some great gains in many areas over the past three years, but some areas have remained depressed and affordability remains a major issue for prospective homebuyers. Driven by high tech jobs, The San Francisco Bay Area has reigned as one of the fastest appreciating and moving markets in the {...}

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