Today on CNN Money, Les Christie reports that new foreclosure filings in California fell 62% in January. “‘We’re now well past the peak of the foreclosure crisis,’ said Daren Blomquist, spokesman for RealtyTrac.”
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Alejandro Lazo reports in today’s LA Times: “The region’s median home price rose 19.6% in December.” Click here to read the article and also watch a video chat with housing experts, who agree that LA area values will continue to rise. Staying ahead of a fast-changing market isn’t easy. For sound advice and friendly, expert assistance, contact Tracy Do Real Estate.
Megan Hopkins reports in HousingWire’s “Monday Morning Cup of Coffee”: Goldman Sachs economist predicts greater housing gains. “The fundamentals for housing activity point to further large gains in the next couple of years,” says Jan Hatzius, chief economist for GS. He points out that household formation is outpacing the availability of new and existing homes by a growing margin. Is it time to sell your home and take advantage? Might be. Explore your options and receive a complimentary valuation by contacting Tracy Do Real Estate.
We weren’t planning on posting again until the New Year, but with so much (good) news out there, how can we resist? Take this pair of stories in today’s LA Times, both by Alejandro Lazo. First: “New-home sales increase 4.4% in November.” As for the why behind this uptick, or at least part of it, check out: “Mortgage interest rates end year near record lows.”
Here’s hoping your 2012 ends on a high note. For expert assistance with your home search or sale in 2013, contact Tracy Do Real Estate.
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In one of his five part series forecasting the year ahead, the Wall Street Journals’ Nick Timiraos reports that rising prices could boost housing demand. “‘Every single thing about housing is flashing green,’ said James Dimon, chief executive of J.P. Morgan Chase, in an interview with CNBC last month. Household formation is rising, inventory is falling, and affordability is near a record high.”
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Today on the Wall Street Journal website, Kristen Jones reports that “mortgage rates are likely to remain near record lows for the first half of 2013, while property values are expected to strengthen, according to mortgage-finance company Freddie Mac.” Translation: the best time to buy your home is right now. And we’re ready to help, so call, text or email Tracy Do Real Estate.
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A pair of articles in Housingwire reinforce some trends we’ve been seeing in our local market of late. Kerri Ann Panchuck reports that more Americans are confident that they can attain mortgages. And first-time homebuyers are playing a bigger role in this growing pool of buyers because they’re connecting to jobs and have grown wary of the high cost of paying rent. We can help you find a home and a mortgage loan, at no cost to buyers. Call, text or email Tracy Do Real Estate.
The LA Times reports this morning that “home prices increased 6.3% in October from a year earlier, the biggest year-over-year gain since 2006.” So it’s more good news for our local housing market, the one downside being the persistence of low inventory, especially in price points that many first-time buyers find attractive. Our takeaway? It’s a great time to sell your home. For a complimentary valuation of your property, contact Tracy Do Real Estate.
Jim Puzzanghera’s full LA Times article can be found here.
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In this morning’s LA Times, Alejandro Lazo reports: “An index of home prices in the largest American cities rose in September, indicating that low supply and increased demand continue to boost housing… ‘With six months of consistently rising home prices, it is safe to say that we are now in the midst of a recovery in the housing market,’ said David M. Blitzer, chairman of the index committee at S&P Dow Jones Indices.” Read the full article here.
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