Posts by pwsadmin
December 2023 Real Estate Newsletter: Home Sales Decline Year over Year
In a recent study I found that the number of homes that sold (sales volume) decreased from the two-month period of September 27 th to November 27 th of 2022 vs the two-month period of September 27 to November 27 th 2023. In a sample area that was taken from the Greater Antelope Valley Association…
Read MoreNovember 2023 Real Estate Newsletter: A Creative way to Buy and Sell a Home in Todays Market
Here’s a new twist on an old product… Assumable loans. FHA (Federal Housing Authority) and VA (Veterans Administration) backed mortgages can be assumed as long as the borrower qualifies. An estimated 14 million mortgages (64 % of mortgages) were refinanced during a seven-quarter period (the COVID quarters) and this doesn’t count all of the mortgages…
Read MoreOctober 2023 Real Estate Newsletter: How Does a 2-1 Buy Down Work?
A 2-1 buy down helps home buyers save money on their mortgage payments for the first two years of their note/mortgage. Here is an example: We’ll say the prevailing interest rate is 7.25%. This (7.25%) is the interest rate that the home-buyer would have to qualify for. So, with a 2-1 buy down, the starting…
Read MoreSeptember 2023 Real Estate News Letter: Are We There Yet?
This question comes up often. Sometimes, it feels like we’re going for a ride or… are we just along for the ride. Because, we don’t have any control over what the federal reserve is doing with interest rates and ‘the power’s that be’ are trying to get inflation to 2%…. and we Might be there!…
Read MoreAugust 2023 Real Estate Newsletter
Home Sales vs Home Prices: As mentioned in an earlier newsletter, the elevated mortgage rates and limited housing supply are suppressing home sales in California (and across the nation). Let’s not confuse the number of home sales with the price/value of a home. The number of homes that have sold is down year over year…
Read MoreJuly 2023 Real Estate Newsletter
What is a NORMAL Housing Market Anyway? I’ve been in the real estate business since January 1995 (when I got my license) and as much as I can tell, the real estate market is constantly changing.. According to the sources at Buffini and company, a Normal/Balanced market is when neither the seller nor the buyer…
Read MoreJune 2023 Real Estate Newsletter
Can I get Fire Insurance for my home? Good question in California. State Farm was the most recent insurance carrier to stop accepting homeowner insurance applications in CA. (citing the growing risk of fire damage and the rising cost to rebuild). This being said, there are other insurance carriers that do offer homeowners insurance (ask…
Read MoreMay 2023 Real Estate Newsletter
Spring Market Heating Up: With all the wet weather and cold temperatures earlier this year, the spring housing market was a little late getting started. As you will see, there is much more activity and home prices are on the rise again. As mentioned in an earlier newsletter, I felt that January of 2023 was…
Read MoreApril 2023 Real Estate Newsletter
Spring has Sprung! The Poppies are up but the inventory on homes for sale is down. At the writing of this newsletter (3-28-2023), homes for sale in The Greater Antelope Valley Association of Realtors (GAVAR) are only at 600. To give you perspective on how low this is, we had 1,137 homes for sale on…
Read MoreMarch 2023 Real Estate Newsletter
Spring’s Around the Corner: I posted a video the other day on my Facebook page referencing the current real estate market. On November 17th 2023 there were 1,137 homes for sale in the Greater Antelope Valley Association of Realtors (GAVAR). Today, 3-1-2023, there are 631 homes for sale. This is approximately a 44% decrease in…
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