Palos Verdes Blog

Dec. 2, 2020

HOME BUYING

UPCOMING TRENDS IN THE REAL ESTATE MARKET

 

Home as Sanctuary The pandemic has made home the safe place to be for all pursuits. People want homes that can accommodate one or more offices, learning centers, playrooms, gyms, a comfortable place to watch movies, pools, and other outdoor amenities. We’re ...

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Nov. 30, 2020

New Home Sales soaring

 

NATIONAL MARKET UPDATE

 

 

Off a tick monthly thanks to September's upward revision, October New Home Sales soared 41.5% over a year ago, 29.1% above their pre-pandemic high. Builders are well-motivated when supply is below 4.3 months and it’s now at 3.3 ...

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Nov. 29, 2020

New wave of Foreclosures

New Foreclosure Auction Rules

The way it works is that foreclosed homes would be auctioned off individually. Sellers wouldn’t be able to bundle the homes together, as they did ten years ago. They’d have to sell each one to a single buyer.  And that could be anyone, so an ...

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Nov. 25, 2020

Current market rates

The average 30-year fixed rate mortgage (FRM) rate hit a new low in the week ending November 20, 2020, now at 2.72%. The 15-year FRM rate also decreased to 2.28%. FRM rates recently descended to historic lows due to efforts to stimulate lending during today’s recession. Beginning in ...

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Nov. 25, 2020

Homes are flying off the market, despite recession

Our last recession was characterized by a depressed housing market. However, the opposite appears to be true as we make our way through the 2020 recession. Low home inventory has led desperate homebuyers to snatch up homes the moment they arrive on the market.

Nationally, the average days on market ...

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Nov. 23, 2020

Home sales and starts soar

 

QUOTE OF THE WEEK

“Either you run the day, or the day runs you.”—Jim Rohn, American entrepreneur, author, and motivational speaker

 

NATIONAL MARKET UPDATE

 

 

In October, Existing Home Sales shot up surprisingly to a 6.850 million annual rate, the fastest pace in 15 ...

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Nov. 23, 2020

Home sales and starts soar

 

QUOTE OF THE WEEK

“Either you run the day, or the day runs you.”—Jim Rohn, American entrepreneur, author, and motivational speaker

 

NATIONAL MARKET UPDATE

 

 

In October, Existing Home Sales shot up surprisingly to a 6.850 million annual rate, the fastest pace in 15 ...

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Nov. 18, 2020

PROPERTY TAX EXCLUSIONS & TAX RELIEF

The following are brief descriptions of a few of the programs available to Los Angeles property owners.

*Please note this is a partial list and intended to be used as a general information only.* More information can be found at http://assessor.lacounty.gov/exclusions-tax-relief.

Homeowners’ Exemption

If you own ...

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Nov. 16, 2020

National Market Update Monday

 

NATIONAL MARKET UPDATE

 

The equity homeowners have in their properties keeps growing. Attom Data reports 16.7 million homes are equity-rich as of Q3, meaning the amount of the loans secured by these homes is 50% or less than their market value.

The National Association of Realtors ...

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Nov. 13, 2020

Buying Frenzy Heats Up in Second-Home Market

Homes are selling much quicker than they did a year ago, and sales of resort and second homes are no different. “Properties are moving fast,” Gay Cororaton, senior economist and director of housing and commercial research at the National Association of REALTORS®, said Friday during the virtual 2020 REALTORS® ...

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