As I’ve conveyed many times in the past, the iBuyer program costs sellers substantially compared to using the traditional market. The Federal Trade Commission came down on Opendoor, and no doubt Zillow saw this action coming down when they pulled out of their iBuyer operation. Excerpts from the ... » Learn More about FTC Takes Action to Stop Online Home Buying Firm Opendoor from Cheating Potential Sellers with Misleading Claims about its Home-Buying Service
Market Updates
California Real Estate Continues to Normalize
Although recently released data points to rising macroeconomic uncertainty that is beginning to spill over into the housing market, prospective homebuyers are beginning to enjoy some of the benefits of a shifting market. To be sure, rising rates have reduced buyer purchasing power, but rising ... » Learn More about California Real Estate Continues to Normalize
San Fernando Valley Housing Inventory Increases, Pricing to Stabilize
It's all about supply and demand. The inventory of housing stock in the San Fernando Valley is increasing. The tricky part is so are interest rates. What we've experienced over the past few years has been an unhealthy real estate market. The Gov't artificially lowering interest rates to offset the ... » Learn More about San Fernando Valley Housing Inventory Increases, Pricing to Stabilize
Mortgage Rates Continue to Jump, Fed VS Inflation
Mortgage rates jumped from mid 5s to low 6s in just a couple of days. Friday's high inflation level of 8.6% and this Wednesday's Federal Reserve meeting is messing with the investor's psyche on what yield they need to buy mortgage-backed securities. Reality, the Federal Reserve is way behind the ... » Learn More about Mortgage Rates Continue to Jump, Fed VS Inflation
San Fernando Valley Los Angeles Real Estate Report May 2022
The higher interest rates are having an effect on San Fernando Valley housing transactions, but mainly in the capacity of how many qualified offers are being sent for the limited properties on the market... and sellers have to be more realistic on their listing prices. When the media reports ... » Learn More about San Fernando Valley Los Angeles Real Estate Report May 2022