Your Mortgage View | April 2, 2018

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Average Milliennial Wastes $93K on Rent by the Time They Hit 30 Why is it called “wasting”? Because after you pay rent….that money is gone. No equity, no tax benefits, nothing. While home prices have increased for 72 straight months of year-over-year gains (according to the National Association of Realtor’s Existing Home Sales Report), millennials that pay rent have missed …

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Your Mortgage View | March 26, 2018

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With rising interest rates, purchasing power drops for buyers considerably the longer they wait. Purchasing Power: An increase in interest rates by 1% translates to an 11% drop in the home a buyer is able to afford. For the past several years, experts and prognosticators across the country had been calling for increasing interest rates. Yet, it never really materialized. …

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Your Mortgage View | March 19, 2018

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Lack of Inventory Continues to Push Prices Higher It’s a great time to be a seller, but not such a thrill being a rookie buyer. Soaring home prices and the shortage of properties on the market are taking a toll on beleaguered first timers. The share of first-time homeowners fell to just 29% of all existing home buyers in January, …

Your Mortgage View | March 12, 2018

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Too Much Noise Everybody seems to have an opinion about the direction of the housing market. Ignore the Noise: From talk of a housing bubble to speculation that the market will slow because of higher rates, the best advice is to ignore all of the noise and turn to the facts. Wow! There is a lot of talk and speculation …

Your Mortgage View | March 5, 2018

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Real estate market sees a few new trends The real estate market continues to evolve. And while we can’t predict how interest rates will affect the landscape, several new trends are emerging for 2018. As the housing supply finally catches up with buyer demand, more millennials will be looking to own homes, finally ditching the rental market or their childhood …

Your Mortgage View | February 26, 2018

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The 6-Year Drought Lack of Sellers: In the face of massive home appreciation and excellent conditions that have favored sellers for years now, fewer homeowners are opting to sell. In 2009, the midst of the Great Recession, a trend emerged. Fewer sellers were coming on the market. It made sense back then; homeowners watched their home equity evaporate overnight, so …

Your Mortgage View | February 12, 2018

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With demand exploding onto the scene, it is officially the best season to sell a home In Southern California, it is hard to tell the seasons apart. You have to look up at the trees to see if there are leaves or not. The time of the sunset is another dead giveaway. Are there flowers yet? Similarly, there are signs …

Your Mortgage View | February 5, 2018

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With a Low Housing Supply & Fierce Demand, The Housing Market is Accelerating Fast In the blink of an eye, Starbucks holiday cups are gone, all of the ornaments are tucked away, and most of those good intentioned New Year’s resolutions have fallen victim to the hustle and bustle of everyday life. Emerging from the fog of all of the …

Your Mortgage View | January 22, 2018

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Tiny Houses May Become Large in New Homes A recent survey showed that 53% of new home buyers would entertain the idea of a tiny home (600 square feet or less) in the future with Gen Xers and Millennials more open to the idea compared to baby boomers and seniors. This is just one of the gems found in a …

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Your Mortgage View | January 8, 2018

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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 …