Propositions 58 & 193 were passed by California voters to provide property tax relief by preventing reassessment of a property when a property is transferred between parents and children (Proposition 58) or from grandparents to grandchildren (Proposition 193). (Section 63.1 of the Revenue ...
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What portion of your listings sell above the listed price?
Home prices continue to defy recessionary expectations, having increased to new heights in 2020.
Nationally, 22% of homes sold above their list price as of September ...
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NATIONAL MARKET UPDATE
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November saw Construction Spending hit a record high. The data includes all public and private construction projects, but the gain was driven by home building--up 2.7% for the month, to a $658.1 billion annual rate. Those new homes will eventually relieve the low ... |
Down payments can be a big hurdle when buying a home. In fact, nearly a third of first-time buyers received money from friends or relatives to source their down payment.
Are you considering a similar move? If so, proceed with caution. Though getting gift money is quite common, it also ...
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The California Buyer Purchasing Power Index (BPPI) figure was +13.4 in December 2020, the highest level since 2012. This positive figure tells us a homebuyer with the same income is able to borrow 13.4% more today than a year ago. The BPPI figure has remained positive throughout ...
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NATIONAL MARKET UPDATE
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The average 30-year fixed rate mortgage (FRM) rate continued to decline to new historic lows in the week ending December 25, 2020, now at 2.66%. The average 15-year FRM rate also decreased to 2.19%. FRM rates have descended to record lows due to efforts to stimulate lending during ...
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2020 was a year for the books. Dominating the headlines were a pandemic, a recession and an election year to boot.
These big stories impacted the real estate market in a myriad of ways. Job losses have left millions unable to ...
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NATIONAL MARKET UPDATE
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After five months of gains, Existing Home Sales slipped 2.5% in November, but are still up 25.8% from a year ago and 16.1% above pre-pandemic levels. The problem is inventory, the lowest it’s been since 1999. Cooling off in November, ... |
High credit scores and large down payments aren’t necessarily signs of a stable housing market.
Nationwide, average credit scores are the highest in California’s expensive coastal cities, according to the Urban Institute. In fact, the top four cities with the highest average FICO scores are here in California, including the ...
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