Looking Ahead: 5% in 2015?
With mortgage rates hovering right at 4% for the sixth consecutive week, homebuyers might start to feel they are invincible from rate increases. However, don’t get too comfortable just yet. Because according to the National Association of Realtors Chief Economist Lawrence Yun, mortgage rates will rise to 5% in 2015…and 6% in 2016. While that […]
The New Normal?
When markets are normal, builders build. And that’s exactly what’s been going on lately. According to the California Building Industry Association, new housing starts are up year-to-date with 61,361 new single- and multi-family units. This uptick in building starts signifies a stabilized housing market. But is this as good as it gets? Is this the […]
What’s Behind Declining Affordability in the Golden State?
Even though Orange County residents experienced low home price appreciation from August to September—with a -0.5% drop, affordability is still impacting Southern California. Some of the reasons behind this decrease in purchase power are: more-sluggish-than-anticipated economic growth, incomes that haven’t kept up with the cost of living, and lack of available inventory. The fact that […]
What’s Keeping Renters out of the Housing Market?
With metros like Los Angeles, Riverside, and San Diego seeing a 10.7%, 11.1%, and 15.5% increase, respectively, in the number of college grads they’ve gained since 2007, it’s hard to believe that home sales aren’t off the charts. So, What’s Keeping Renters out of the Housing Market? Especially when you factor the job growth SoCal […]
Short Sale Changes in 2014 – New Rules
It’s important to note that Fannie is releasing DU (Desktop Underwriter) version 9.1 on August 16, 2014. Along with this release they are making a MAJOR change to the guidelines. Increased Wait Period From Short Sale to Purchase With the new change, they will be requiring 4 years seasoning for a short sale, regardless of […]
What Happens if Escrow Doesn’t Close On Time?
Escrow is a contractual arrangement between transacting parties, where an independent trusted third party receives and disburses money and/or documents. Escrow generally closes between 30 and 60 days. Reason for Escrow Not to Close There are many reasons for escrow not to close on time. Someone might be dragging their feet, making things slow down […]
Lenders That Do Not Require PMI in San Diego
There is no such thing as ‘no PMI’ if you have less than 20% to put down on a property. You do, however, have the option to do what is called lender paid. Sometimes, it ends up costing too much to use this option, but with a conforming loan amount, and a borrower with great […]
Paying Property Taxes…
I’ve been getting several calls over the past week from clients curious whether or not their taxes were impounded in their loan because they just received a tax bill from the county assessors office. I thought that it would be a good idea to send out an email breaking down how it all works. 🙂 […]
The Importance of a Living Trust
You’ve got the home. You’ve got the mortgage. You’ve got homeowner’s insurance. Now that you’re a homeowner, it’s time to protect what may be your largest investment. A living trust is an essential legal document that you create to hold title your home– and perhaps other assets as well. Living trusts avoid costly, time-consuming probate […]
Waltz Needs a New Forever Home. Can It Be Yours?
My daily job is to help people get into their new homes. My volunteer job is fostering dogs from http://secondchancedogrescue.org/ while helping them find their forever home. My latest dog in search of his much deserved forever family is: “Waltz” I’ve named him Windell and call him Windy for short, he seems to respond! 🙂 […]
