– Existing, single-family home sales totaled 427,630 in August on a seasonally adjusted annualized rate, up 1.5 percent from July and 1.3 percent from August 2016.
– August’s statewide median home price was $565,330, up 2.9 percent from July and 7.2 percent from August 2016.
– At the regional level, the San Francisco Bay Area, Inland Empire, and Los Angeles metro area all registered year-to-year sales increases of 6.5 percent, 8.2 percent, and 4.4 percent, respectively.
California’s housing market defied gravity as existing home sales and median home price registered increases on both a monthly and an annual basis in August, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Closed escrow sales of existing, single-family detached homes in California remained above the 400,000 benchmark for the 17th consecutive month and totaled a seasonally adjusted annualized rate of 427,630 units in August, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.
Considering selling or buying a home? Call us today @ 714-963-7462. What sets us apart- is not what we do, but how we do it. Our culture’s values encourage us to think differently, share ideas and create effective solutions that help our clients to accelerate their real estate success
El Centro Urbano del Instituto Financiero de la Vivienda publicó recientemente en su reporte del mes de Septiembre que las ejecuciones hipotecarias continúan disminuyendo con la recuperación de la vivienda, pero sigue siendo alta en relación a la década de 2000.
En particular, el reporte muestra que los atrasos de más de 90 días de morosidad así como las ejecuciones hipotecarias incrementaron a un 3.1 por ciento en el segundo trimestre de 2016. Esto constituye una disminución de 9 puntos bases sobre el 4.0 por ciento para el mismo trimestre del año anterior.
A partir de julio de 2016, el reporte indica que 1.30 por ciento de la cartera de Fannie Mae y 1.11 por ciento de la cartera de Freddie Mac fueron afectados con pagos atrasados, comparado al 1.63 por ciento para Fannie Mae y 1.48 para Freddie Mac en julio de 2015.
En general, las ejecuciones hipotecarias continúan disminuyendo, con un promedio de 34.356 por mes en el primer semestre de 2016 frente a 37.970 por mes en el mismo período hace un año.
Buen indicador que el mercado de Bienes Raíces se mantiene estable, y aun mas considerando que los intereses se encuentran en los niveles mas bajos facilitando la compra y refinanciación a muchos propietarios para que puedan obtener pagos hipotecarios mas asequibles.
“Aunque comprar una propiedad en un mercado hipotecario de vendedores puede presentarse con muchos desafíos, es posible asegurar una casa que te va a encantar” Sandy Flores Broker, Liderando el camino a tu Casa Propia!
Once again the voices of the REALTORS® were heard loud and clear on Capitol Hill, and we scored a big win for future homeowners! Thanks to the more than 139,000 REALTORS®, or 15% of our members, across the nation, the Housing Opportunity through Modernization Act of 2016, or H.R. 3700, passed the U.S. Senate by unanimous consent, and was signed into law by President Obama on July 29, 2016. This legislation:
Solves a number of concerns regarding FHA’s condo rules:
Reduces the FHA condo owner occupancy ratio to 35%, unless FHA takes alternative action within 90 days.
Directs FHA to streamline the condo re-certification process.
Provides more flexibility for mixed use buildings.
Mirrors the Federal Housing Finance Agency’s (FHFA) rules regarding private transfer fees for FHA condo lending.
Provides permanent authority for direct endorsement for approved lenders to approve Rural Housing Service (RHS) loans.
Makes reforms to federally assisted housing programs to streamline the programs.
On behalf of the NAR Leadership Team, we would like to thank you and your colleagues for this amazing grassroots effort and for all your support for this national Call for Action. Our state and local association partners did a great job in leading the efforts to get the U.S. Senate to act on this critical legislation. This victory was made possible by the collective efforts of the NATIONAL ASSOCIATION OF REALTORS®, and our state and local association partners. When REALTORS® speak in a single unified voice, Congress listens.
Every year homeowners invest large sums of money remodeling their homes. With the high cost of material and labor these home remodeling projects are usually homeowner DIY projects.
The value of remodeling projects depends on several factors such as how old is the building, the general condition, and the real need for the project.
Keep in mind that the appearance of a house on the outside is what gives an initial and lasting impression. Keeping the exterior paint in good condition with no flake or chip and a roof should be clear of damaged shingles would it be your first step.
If paint on window shutters or trim is chipped, a new coat will refresh them and give your house a whole new look. These are inexpensive investments that are worth the cost.
Bath and kitchen areas are the most important rooms within a home. Remodeling a kitchen or bathroom can cost thousands of dollars but in many cases all they need is some sprucing up with paint or new floor material. Replacing an antiquated bathroom vanity and an old toilet is not very expensive and is not considered a major bathroom remodeling job. Buy new bathroom fixtures from bathroom designer warehouses at cut-rate prices. All these remodeling tasks are worth the investment.
Stained or messy flooring in the bathroom, laundry room or kitchen can reflect a disinterested homeowner, and these areas can be improved quite easily. Remove the varnish off of worn floors and reapply. Replace a dirty carpet for something more in tune with modern design.
These remodeling suggestion are inexpensive and are worth the investments. But before investing a great deal of money into an old home, determine what the return will be on the investment based on market value or how long you plan on staying in the house.
Certain home renovations are a win-win situation, providing enjoyment to you, the homeowner, and then making your home more marketable, and worth more, in the future.
One of the leading on-line real estate destinations, Homes.com®, has released its latest Local Market Index, a price performance summary of repeat sales in the top 100 markets, and the companion Midsize Markets Report for the next 200 largest markets. Among the nation’s top 300 markets, 166 or 55 percent have now achieved full price recovery 24 more than the 142 markets reported in June.
By July, 50 of the nation’s 100 largest markets experienced a complete price recovery, one more than the prior month. Additionally, 116 out of 200 midsize markets saw a complete price recovery, 23 more than reported in June.
July saw 16 of the top 100 markets post a decline in their 3-month averages. The long-term view remains robust though, with all 100 markets continuing to post year-over-year gains.
The National Association of Realtors (NAR) recently reported that pending home sales increased in April for the fourth consecutive month and reached their highest peak in nine years. The steady gains in contract activity each month this year highlight the fact that buyer demand is strong
“Homeowners looking to sell this spring appear to be in the driver’s seat, as there are more buyers competing for a limited number of homes available for sale,” Lawrence Yun chief economist from NAR.
“The housing market can handle interest rates well above 4 percent as long as inventory improves to slow price growth and underwriting standards ease to normal levels so that qualified buyers—especially first-time buyers—are able to obtain a mortgage,” Yun adds.
Realtors expect for total existing-home sales in 2015 to be around 5.24 million, an increase of 6.1 percent from 2014. The national median existing-home price for all of this year is expected to increase around 6.7 percent. In 2014, existing-home sales declined 2.9 percent and prices rose 5.7 percent.
Total existing-home sales, which are completed transactions that include single-family homes, townhomes, condominiums and co-ops, rose 1.2% to a seasonally adjusted annual rate of 4.88 million in February from 4.82 million in January. Sales are 4.7% higher than a year ago and above year-over-year totals for the fifth consecutive month.
On today’s new analysis released by CoreLogic, leading global property information, analytics and data services provider, reported that 1.2 million borrowers regained equity in 2014. Nationwide, borrower equity increased year over year by $656 billion in Q4 2014. Borrowers with near negative equity are considered at risk of moving into negative equity if home prices fall. In contrast, if home prices rose by as little as 5 percent, an additional 1 million homeowners now in negative equity would regain equity. The calculations are not based on sampling, but rather on the full data set to avoid potential adverse selection due to sampling, and only data for mortgages residential properties that have a current estimated value is included.