Archive for March 2023

The SCOOP on Interest Rates: Recently, a client asked me why interest rates for Re-finances are LOWER than Purchases?Here are a few of the reasons:Mortgage bankers/lenders lend … on Risk! The less risky a potential mortgagor is, the better the lender/mortgagee likes it. Usually, when there is a refinance (re-fi), there is some payment history.…

The Fed says as many as 6 rate hikes this year: The Federal Reserve Chairman (Fed Chair) J. Powell, announced earlier in March that he was launching a ‘high-risk’ effort to tame the worst inflation since the 1980’s. Backing his word, he raised the key rate by a quarter of a point. The first rate…

Median Home Prices for SFV, SCV and AV: Top O’the Month to you all and Happy St. Patty’s Day (March 17th). Now that the numbers are in for 2021, I’d like to share with you where the median home prices are in the San Fernando Valley (SFV), Santa Clarita Valley (SCV) and the Antelope Valley…

How Rising Interest Rates will affect the Spring Housing Market. Well, there are a couple of things we have to look at before we dive into the future… 1). Over the past 2 years there has been an increase in residential home prices of approximately 40% (yes, that is a crazy number!). I calculated this…

If you know of someone wanting to get their real estate license, The Hier Advantage Real estate Sales and Service now has their very own Real Estate School… www.avreschool.com Our motto, Pass the Test, We’ll Teach You The Rest! The BIGGEST news for the upcoming year is … mortgage rates are on the rise (currently…

Closing Out The Year: Yes, it has been another wild ride. While we were still dealing with the Pandemic (mask wearing, hand sanitizing, vaccines and the like) we were pretty much able to move freely about. The latest numbers from Corelogic Home Price Index suggests that there was an increase in home prices of 18%.…

How to proceed in a Cooling Housing Market! Now that the crazy Covid Market is mainly behind us (super low inventory and frantic buyers) we’re starting to see the housing inventory rise. But it’s still a sellers’ market. In the spring of 2021, we had an average of about 300 homes for sale (a lot…

Homes Sales vs. Home Prices: There’s been quite a bit of rhetoric out there (lately) claiming that the home sales will start tailing off… In my opinion this is true…only because home sales is a term that refers to the quantity/number of homes that sold not the value of the home. The media needs to…

Are we really headed for a housing bubble? Well, if you listen to some of the media outlets you would think it’s right around the corner. I don’t see it happening any time soon and here’s why. Number one: We’re still in a housing shortage. Even though the inventory has gone from approximately 300 homes for…

Is this Market Really THAT HOT??? As most of you know, I like to use the 93536 (Lancaster west) zip code for my data and analytics. Today, that parameter encompasses… Ave. I on the north to Ave. L on the south and from 20th st. west to 60th st. west. This is 12 square miles…