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Your Mortgage View | December 11, 2017

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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 …

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Your Mortgage View | December 4, 2017

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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 …

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Your Mortgage View | November 27, 2017

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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 …

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Your Mortgage View | November 20, 2017

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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 …

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Your Mortgage View | November 13, 2017

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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 …

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Your Mortgage View | November 6, 2017

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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, …

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Your Mortgage View | October 23, 2017

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 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 …

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Your Mortgage View | October 16, 2017

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 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 …

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Your Mortgage View | October 2, 2017

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 Inventory Shortage Hampers Pending Home Sales: The National Association of Realtors released their Pending Home Sales report and there is a glaringly obvious issue: Lack of inventory available for purchase. The Pending Home Sales Index a forward-looking indicator based on contract signings, retreated 2.6 percent to 106.3 in August from 109.1 in July. The index is now at its lowest …

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Your Mortgage View | September 25, 2017

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Luxury demand tumbled by 11% in the past couple of weeks, while the inventory dropped by only 1%. In the past two weeks, demand for homes above $1.25 million decreased from 358 to 318 pending sales, an 11% drop, representing a major shift in the luxury market. The luxury home inventory decreased from 1,979 homes to 1,959, a 1% drop. …