The San Fernando Valley real estate market is presently stable, but in transition. The foreign and hedge fund investor buying frenzy has abated, leaving the local standard buyer to do the heavy lifting going forward. The upside, the local buyers can now find properties to purchase without having ... » Learn More about San Fernando Valley (California) Real Estate Market Update December 2013
Latest Housing Affordability Data
These are the latest affordability numbers from the National Association of Realtors. They don't incorporate the tightening of loan underwriting guidelines due to the new Dodd Frank regulations that are just now starting to be imposed on mortgages, but it does give a good indication on how the ... » Learn More about Latest Housing Affordability Data
Existing Home Sales Fall 3.2 Percent in October Nationally
The national drop in existing home sales volume isn't as big a concern as the anemic 28% first time home buyers. As I've conveyed for years, the housing market is not healthy. The increase in values have been driven by hedge funds, domestic and foreign investors... Watch for my blog on the upcoming ... » Learn More about Existing Home Sales Fall 3.2 Percent in October Nationally
Home equity lines due for reset may be looming financial disaster
This article reiterates one of the economic headwinds I've been conveying. HELOCs and interest only adjustable rate mortgages generated at the peak of the last real estate market will be resetting soon. The payment shock of the principle repayment being made over a shorter period than a standard 30 ... » Learn More about Home equity lines due for reset may be looming financial disaster
Fannie, Freddie close to paying off taxpayer bailout bill
Treasury reaps revenue from 2 mortgage giants By The Washington Times Thursday, November 7, 2013 Fannie Mae and Freddie Mac, the housing giants whose combined $188 billion bailout dwarfed all others during the 2008 financial crisis, announced Thursday that they will return another $39 billion in ... » Learn More about Fannie, Freddie close to paying off taxpayer bailout bill