– 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
Usually the most effective way to improve indoor air quality is to eliminate individual sources of air pollution or to reduce their emissions. Some sources, like those that contain asbestos, can be sealed or enclosed; others, like gas stoves, can be adjusted to decrease the amount of emissions. In many cases, source control for air quality is also a more cost-efficient approach to protecting indoor air quality than increasing ventilation because increasing ventilation can increase energy costs.
Most home heating and cooling systems, including forced air heating systems, do not mechanically bring fresh air into the house. Opening windows and doors, operating window or attic fans, when the weather permits, or running a window air conditioner with the vent control open increases the outdoor ventilation rate and serves as a simple form of air cleaners. Local bathroom or kitchen fans that exhaust outdoors remove contaminants directly from the room where the fan is located and increase the outdoor air ventilation rate.
It is particularly important to take as many of these steps as possible while you are involved in short-term activities that can generate high levels of pollutants–for example, painting, paint stripping, heating with kerosene heaters, cooking, or engaging in maintenance and hobby activities such as welding, soldering, sanding, model making and gluing.
However, remember that for most indoor air quality problems in the home, source control is the most effective solution.
Did you know that consumers are currently spending an average of twice as much of their monthly income on rents as they are on mortgage payments?
Money talks! This is WHY NOW is a good time to buy a home, not only good! It is the best time to buy a house.
Sandy Flores Broker/Realtor (714) 963-7462
There is not doubt rents will likely keep rising at their current pace, and it is a fact high rents make it difficult to save for a down payment. Well, I have GOOD NEWS for you! There are down payment assistance programs that can help you buy your first home! Let’s GO!
Yes! There are programs to assist First Time Buyers to purchase a home. These programs are available to homebuyers that have not owned/held interest in a principal residence in the past three years.
These Programs provide First time buyers a differed 30 years second mortgage loan that vary from $40,000. and up to $125,000. depending on what city you’re applying and availability of funds. Funds are available until used up…First come First served!
For these homeownership programs, applicants must complete a pre-purchase homebuyer counseling program.
All applicants must be pre-qualified with the pre-qualification lender assigned to the property if they are interested in purchasing. However their first mortgage can be from any lender as long as the loan meets program requirements.
This First Time Homebuyer Program is being funded by the U.S. Department of Housing & Urban Development HOME Program. GREAT time and BEST opportunity!
Pending home sales rose less than expected in May but are still at the highest level since 2006. The National Association of Realtors’ index of pending home sales rose less than expected, by 0.9% to a seasonally-adjusted 112.6. Analysts had expected a 1-1.2% increase.
“The steady pace of solid job creation seen now for over a year has given the housing market a boost this spring,” NAR chief economist Lawrence Yun said.
Last week, the association saw a sharp pickup in existing home sales following a decline in April. Sales of new single-family houses in May 2015 were at a seasonally adjusted annual rate of 546,000, which is up 2.2% from April.
The Process of Escrow When Buying and Selling Property
By Sandy Flores
Special to Excelsior
Buying or selling property requires the transfer and movement of large sums of money.
It’s important that funds and documents are transferred from one party to the other in a neutral, safe and legal way. That’s why the process of escrow is established and developed to protect the buyer, seller and lender.
Whether you’re acting as a buyer or seller, you must ensure that all conditions of the sale are met before the property and money move on into other hands.
The technical definition of escrow is : a neutral party or mediator responsible for the proper performance in the transaction, transfer or lease of a property to another person by delivering a written instrument, money or other items of value to a third neutral person.
This third person holds the money or items for disbursement, when all the specific facts or the execution of a specific condition occurs.
If the transaction depends on the arrangement of new financing then information and documentation of the new loan must be placed into the hands of the escrow agent before the transfer of ownership occurs. A real estate agent can help identify appropriate lending institutions more.
To close the transaction, you must provide the escrow agent with necessary information such as loan documents, state taxes, insurance policies, policies against fire, flood, etc.., if required by the lender, as well as the title insurance policy, the terms of sale and any seller-assisted financing.
At this time, all funds needed to cover the full and absolute payment agreed under the contract must be paid and charges assigned, such as title insurance premium charge, commissions real roots charge, termite inspection, assessment of property, transfer fees, etc., depending on whether you are the buyer or seller in the transaction.
Payments of funds at the close of escrow should be acceptable as personal checks and can cause days of delay in processing the transaction. The title to the property is then transferred under the terms of the escrow instructions and appropriate title insurance is issued.
Things escrow agent can do:
Enter as “keeper of the interest in question” in a neutral way, and as an intermediary in the communication of all parties involved in the transaction.
Prepare and write escrow instructions for distribution to all parties involved.
Responsible for requesting preliminary research to determine the current condition of title to the property.
Request a statement by the beneficiary in case of debts or obligations that should be taken by buyer.
Meets the requirements of the lender, which are detailed in the contract agreement.
Is responsible for receiving funds Buyer to consummate the purchase.
Prepare, secure and / or writing drafts and other documents related to escrow .
Responsible for apportioning taxes, interest, insurance and rents according to instructions.
Disburses funds in accordance with the instructions, including charges for title insurance, settled fees, real estate commissions and all payments required under the contract.
Prepares drafts and final reports to the parties, explaining the disposition of all funds deposited in escrow and its exact distribution at closing of the transaction (these are useful for the preparation of the tax return).
What the agent ‘escrow’ can not do:
Provide any legal advice.
Provide any investment advice.
Offer suggestions of how you can take legal title to your home.