As you can see, even though the property values have continued to appreciate, the Affordability Index has gotten a lot better, because of the drop in the mortgage rates to historic lows. Inventory levels are 27% lower than a year ago. Basic supply and demand. Sales activity has popped back up from ... » Learn More about Los Angeles Real Estate Report Card July 2020
A New MRES Multi Real Estate Services Website
They say sometimes "what's old is new again". Then again sometimes "what's old is just old". It's been a few years, but every so often a website needs a facelift or a repurposing. In this case, it was both. I started Multi Real Estate Services back in 1995. Back then it was basic HTML ... » Learn More about A New MRES Multi Real Estate Services Website
California Real Estate Market at a Glance
We knew the real estate market statistics were going to be rough in April, and they were. I blogged last week on the San Fernando Valley numbers, but it was a difficult month throughout the state. Generally real estate is local. In this case, the COVID-19 malfunction is having its way with the ... » Learn More about California Real Estate Market at a Glance
Another Change to Post Forbearance New Loan Qualification
The Federal Housing Finance Agency has announced that Fannie Mae and Freddie Mac borrowers in forbearance can apply for refinancing and new purchase mortgages once their loans are current It waives a previous mandatory wait of 12 months. That move allows faster access to record-low ... » Learn More about Another Change to Post Forbearance New Loan Qualification
Unintended Consequences of Mortgage Forbearance – Video
The mortgage forbearance program is a moving target, and changing constantly. This is as of 5/13/20. There are the unintended consequences on taking a mortgage forbearance. If you're in a financially distressed position because of COVID, us it. If you can afford to make the payments, pay it. There ... » Learn More about Unintended Consequences of Mortgage Forbearance – Video