Palos Verdes Real Estate

April 19, 2021

National Market Update

 
NATIONAL MARKET UPDATE

After severe winter weather slammed home construction in February, builders charged back in March, pushing Housing Starts up 19.4%, to a 1.739 million annual rate, the highest level since 2006. 

Plus, new Building Permits hit a 1.766 million yearly rate in March ...

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April 17, 2021

The source of home price movement: buyer purchasing power

Buyer purchasing power is a major influence on home prices. Home price increases cannot exceed what homebuyers are able to pay. Therefore, absent significant outlying market factors, when buyer purchasing power falls, home prices are likely to follow. When purchasing power rises, the seller’s outlook for a rise in pricing ...

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April 16, 2021

California home sales volume lays low

34,900 new and resale home transactions closed escrow in California during February 2021. In this single month, the number of homes sold was 23% higher than a year earlier. February’s relatively high sales numbers continue the rapid pace of sales experienced since mid-2020, uncharacteristic of a recession. 

Despite ...

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April 14, 2021

Are FHA-insured mortgages declining in popularity?

Are FHA-insured mortgages declining in popularity?

The dual crises of the COVID-19 pandemic and 2020 recession threatened a rise, if not surge, in Federal Housing Administration (FHA)-insured mortgage popularity. Not to be outdone, conventional loan financing has actually seen an uptick among first-time buyers. But how much staying power does this trend wield?

Nothing gold ...

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April 12, 2021

National Market Update

 

NATIONAL MARKET UPDATE

 

Fannie Mae’s March Home Purchase Sentiment Index scored its biggest gain since June. Respondents who say it’s a good time to buy went from 48% to 53%, while those who feel it’s a good time to sell grew from 55% to 61%. 

Realtor.com ...

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April 9, 2021

Spousal Property Petition: What It Is And When To Use It

When a person dies, their belongings must pass onto the living. When no other arrangements are made, these belongings are usually distributed and passed among the next of kin according to the intestate laws in the decedent’s home state. This process is supervised by a probate court and can be ...

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April 7, 2021

Beginner’s Guide to Gardening

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Spring is in the air, and it’s the perfect time to start an edible garden! But if you don’t have a green thumb, you may be wondering where to begin. Check out these beginner’s gardening tips.

  • Choose a sunny location; most edible plants need at least six hours of direct ...

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April 5, 2021

National Market Update

 

NATIONAL MARKET UPDATE

 

Last week, the purchase mortgage application index rose a solid 5%. The Mortgage Bankers Association's chief forecaster noted: “The housing market is entering the busy spring buying season with strong demand.”

Freddie Mac’s chief economist added: “While purchase activity remains high, it ...

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March 26, 2021

Delinquent homeowners have not taken advantage of forbearance programs

Delinquent homeowners have not taken advantage of forbearance programs

The impacts of the 2020 recession continue to ripple through the economy, with the brunt of job losses disproportionately hitting people of color. However, the share of homeowners taking advantage of federal forbearance programs moves aid in the opposite direction of where it’s needed most.

The federal foreclosure moratorium will ...

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March 24, 2021

How to Plan Your Edible Garden

Whether you’re starting a new garden or returning to a well-established one, planning is essential for a successful and fun experience. To give your garden the best chance to thrive, take time to ...
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