Prices up, interest rates up... To purchase an average home in Los Angeles County, a buyer needs $96,000 in income to qualify for a standard 20% down purchase compared to $68,000 a year ago!!! Southern California logged its most competitive January home market in three years as buyers wrestled with ... » Learn More about Southland Home Sales Drop in January; Price Picture Mixed
Weakness in Real Estate Market Reflected in Mortgage Application Data
People restrained from getting mortgages in the past week. Applications to buy a home dropped 5 percent from the previous week, even after accounting for normal seasonal patterns. From the start of the year, these home purchase applications have been running around 10 to 15 percent below last year's ... » Learn More about Weakness in Real Estate Market Reflected in Mortgage Application Data
9 Critical Elements to Consider When Pricing a Property to Sell
In this video, Ron Henderson President/Broker of Multi Real Estate Services Los Angeles, CA debunks old myths, and gives a contemporary approach to pricing real estate to realize the highest monetary return in the shortest time on the market. How you price a property for sale can be critical. It’ll ... » Learn More about 9 Critical Elements to Consider When Pricing a Property to Sell
Increasing Prices Chip Away at Housing Affordability
Stable year-over-year price gains are starting to get a bite into housing affordability, especially in the West, per the National Association of REALTORS ®' latest quarterly review. The median single-family home price increased in 73 percent of the markets, or 119 out of 164 metro areas, in the ... » Learn More about Increasing Prices Chip Away at Housing Affordability
First Time Buyers: 27 Percent of Residential Buyers vs the Normal 40 Percent
Approximately 27 percent of REALTORS stated that their last sale in December was to a first time home buyer (28 percent in November). First time buyers usually represent 40% of residential purchases. REALTORS are reporting problems of home buyers qualifying for loans and are finding it ... » Learn More about First Time Buyers: 27 Percent of Residential Buyers vs the Normal 40 Percent