Existing Home Sales Stall

Posted: 9/21/2018

Sales of existing single-family homes have fallen for four straight consecutive months according to the newest figures from the California Association of Realtors. In the Southern California region, an eight percent drop in home sales compared to this time last year shows the once hot sales market is slowing down. Home prices rose 0.8% {...}

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Homeownership Burden Increasing

Posted: 7/03/2018

Rising housing and living costs have reached all-time highs in many Counties throughout California, which is bringing new attention to the struggle and burdens of home ownership. If you pay more than 30 percent of your gross income, meaning the income you earn before taxes, you are considered “housing burdened”. This means you may not {...}

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Owner Occupied Homes at Record Low

Posted: 4/15/2018

High prices have forced a growing percentage of families to postpone buying a house. California now has a record-low homeownership rate, and foreign buyers and investors are the likely driving force of higher prices. In 2006, about 10 percent of single-family homes were purchased in cash. During the recession 33 percent were purchased {...}

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Tax changes could hurt affordability

Posted: 1/15/2018

The tax bill President Trump signed into law last month may bring changes to California’s real estate market. Because California is one of the most expensive housing markets in the country, changes to interest deductions and the doubling of the standard deduction are seen as having a negative impact for California homeowners and {...}

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Affordability at lowest level since crash

Posted: 11/06/2017

Tight housing inventory across the state has driven home prices higher and reduced the purchasing power for potential buyers. The percentage of home buyers who could afford the median-priced, existing single-family home has fallen to 28 percent, a 10 year low. Affordability hit its peak during the first quarter of 2012 at 56 percent. {...}

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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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