Mortgage View

Your Mortgage View | January 8, 2018

ballesterosgroup Mortgage Watch Leave a Comment

A Chronic Lack of Inventory Defined 2017 The year started with an active inventory of 4,071 homes on the market and ended with 3,560. It was the second lowest start to a year behind 2013. Ever since the Great Recession, the trend has been fewer homeowners selling their homes. Since 2009, the number of homes placed on the market has …

Your Mortgage View

Your Mortgage View | December 18, 2017

ballesterosgroup Mortgage Watch Leave a Comment

Still a Hot Seller’s Market Hot Housing Market: Year in and year out December is notoriously the slowest month of the year in terms of demand and new sellers placing their homes on the market; yet housing is still hot. Nobody can escape it. The holidays are here. Office gatherings, friend gatherings, and family gatherings fill everybody’s calendars. The mall …

Your Mortgage View

Your Mortgage View | December 11, 2017

ballesterosgroup Mortgage Watch Leave a Comment

Home Equity Continues to Climb According to the newly released CoreLogic Q3 2017 Home Equity Analysis, homeowners with mortgages (roughly 63 percent of all homeowners) have collectively seen their equity increase 11.8 percent year over year, representing a gain of $870.6 billion since Q3 2016. Additionally, homeowners gained an average of $14,888 in home equity between Q3 2016 and Q3 …

Your Mortgage View

Your Mortgage View | December 4, 2017

ballesterosgroup Mortgage Watch Leave a Comment

The Holiday Market is in full swing, bringing a lot less inventory and the lowest level of new deals for the year. In the past two weeks, demand for homes above $1.25 million decreased from 299 to 236 pending sales, down 21%. The beginning of the Holiday Market walloped luxury demand. The luxury home inventory decreased from 1,672 homes to …

Your Mortgage View

Your Mortgage View | November 27, 2017

ballesterosgroup Mortgage Watch Leave a Comment

Not a Buyer’s Market Since 2012, the active inventory for Orange County has been extremely limited. There may be plenty of choices for the Thanksgiving meal, but the Thanksgiving housing market is seriously lacking choices with a razor thin supply of homes for sale. With only 4,714 homes available to purchase in Orange County, buyers in the lower ranges, homes …

Your Mortgage View

Your Mortgage View | November 20, 2017

ballesterosgroup Mortgage Watch Leave a Comment

Luxury Demand Heading Towards the Holiday Market In the past two weeks, demand for homes above $1.25 million decreased from 325 to 299 pending sales, down 8%. Luxury is already transitioning into the Holiday Market. The luxury home inventory decreased from 1,712 homes to 1,672, a 2% drop in the past two-weeks. Expect both the inventory and demand to drop …

Your Mortgage View

Your Mortgage View | November 13, 2017

ballesterosgroup Mortgage Watch Leave a Comment

Bad Neighbors Can Cost You Buying a home is one of the biggest investment any person will make in their lifetime. But how often do potential buyers do as much due diligence on their next-door neighbors as they do with, say, the decor in the bathroom or square footage in the yard? Some 25% of home buyers said they regret …

Your Mortgage View

Your Mortgage View | November 6, 2017

ballesterosgroup Mortgage Watch Leave a Comment

Luxury Supply Plummets While Demand Rises In the past two weeks, demand for homes above $1.25 million increased from 302 to 325 pending sales, up 8%. That is a solid improvement and a clear indicator that the luxury market is making its final push to close out the year strong. The luxury home inventory decreased from 1,818 homes to 1,712, …

Your Mortgage View

Your Mortgage View | October 23, 2017

ballesterosgroup Mortgage Watch Leave a Comment

 Is the Fed going to bump the rates in December? There is a lot of speculation in the news about when—or if—the Federal Reserve (“The Fed”) is going to “raise rates.” Many people about to buy a home or apply for a refinance mortgage are wondering, too. Is the Fed going to bump the rates in December? With all the …

Your Mortgage View

Your Mortgage View | October 16, 2017

ballesterosgroup Mortgage Watch Leave a Comment

 First-time Home Buyers More Optimistic: A nationwide shortage of housing inventory has been pushing prices ever higher. First-time buyers have often found themselves competing with two, three or more other buyers when they make an offer on a home. They are often outbid in the “auction” atmosphere of multiple offers. The frustration of losing out to competing buyers with larger …