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A LinkedIn article states that approximately 90% of millionaires attribute their wealth to their real estate holdings. As we know, buying and owning your own home is one of the biggest investments most people make. Handing down a real estate…
Read MoreComing Soon… a MANDATORY Buyer Representation and Broker Compensation Agreement (aka BRBC) between a home buyer and their real estate agent… very similar to the Residential Listing Agreement (RLA) for home sellers. We have been using this (BRBC) for a…
Read MorePent up demand and lower interest rates will be the driving forces for the real estate market this Spring.For example, in November of 2023 the 30-year mortgage rate was 7.76%. Historically not a high number, but a whole lot higher…
Read MoreEvery now and then I take a look to see how home prices fared on a year over year basis. Today I will be using the time frames from November 29 th of 2022 to January 29 th of 2023…
Read MoreAs you may have heard, interest rates have come down quite a bit. According to Freddiemac.com, mortgage rates have come down about 1.125% since October 26, 2023 even though the Federal Reserve Board hasn’t changed their rates at all. This…
Read MoreIn 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…
Read MoreHere’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…
Read MoreA 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…
Read MoreThis 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…
Read MoreHome 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…
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