California Housing Market Update For February 2019

California Housing Market Update For February 2019 Source: Pacific West Association of Realtors “It is worthwhile to mention the weather when discussing residential real estate for large portions of the U.S. for February 2019, because this month has turned in some impressively cold, rainy and snowy days that have stalled some buying and selling actions.… Continue reading California Housing Market Update For February 2019

California Housing Market Update For June 2018

California Housing Market Update For June 2018 Source: Pacific West Association of Realtors “Housing markets across the nation are most assuredly active this summer, and buyer competition is manifesting itself into several quick sales above asking price. While the strength of the U.S. economy has helped purchase offers pile up, the Fed recently increased the… Continue reading California Housing Market Update For June 2018

Garden Grove CA Market Update – December 2017

Garden Grove CA Market Update – December 2017 Median price of houses in Garden Grove continued its increase to $620,000. Average days on market (DOM) decreased to 14 days indicated a very Millennials (also known as Generation Y) are sometimes referred to as “Echo Boomers” due to a major surge in birth rates in the… Continue reading Garden Grove CA Market Update – December 2017

California Housing Affordability Inches up in First Quarter of 2017

California Housing Affordability Inches up in First Quarter of 2017 Source: California Association of Realtors LOS ANGELES (May 15) – Despite a moderate increase in mortgage interest rates, seasonal price declines and higher household income elevated California’s housing affordability in first-quarter 2017, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. Thirty-two percent of California households… Continue reading California Housing Affordability Inches up in First Quarter of 2017

Interest Rates May Remain Low Through 2017

Interest Rates May Remain Low Through 2017 On February 8, 2017, St. Louis Federal Reserve Bank President James Bullard commented that interest rates can remain low through 2017. His comment bucked recent market consensus that Federal Reserve might raise interest rates three times in 2017. Bullard felt there was only need for one rate hike,… Continue reading Interest Rates May Remain Low Through 2017

Lowers Mandatory Waiting Period After Bankruptcy, Short Sale, & Pre-Foreclosure

FHA loans: No seasoning requirement for short sales as long as the borrower was current on the mortgage, and all other installment debt for the 12 months preceeding the short sale.   Lenders may also grant an exception if short sale was result of of documented extenuating circumstances that were beyond the control of the… Continue reading Lowers Mandatory Waiting Period After Bankruptcy, Short Sale, & Pre-Foreclosure

Great news for FHA borrowers

Federal Housing Administration, known to be the government insurer of low down-payment home loans, has just reduced annual mortgage insurance premium by 25 basis points. FHA pointed out that the reduction in insurance premium was due to the improved financial condition of the FHA’s insurance fund and continue to make home-ownership less costly. With the… Continue reading Great news for FHA borrowers

2017 California Loan Limits

UPDATED 2018 loan limits in California The table below lists new loan limits for counties in California all real estate mortgages starting January 1st, 2017. Those figures are based on new Fannie Mae and Freddie Mac guidelines. This is the first time since 2006 the Federal Housing Finance Agency’s (FHFA) increases the limitsfor mortgages acquired… Continue reading 2017 California Loan Limits