In the first half of 2019, members of the California Legislature introduced roughly 200 bills that addressed the state’s worsening housing crisis. By the end of May, most of them had been nixed. So why can’t California pass real housing reform? READ MORE
Income Needed to Buy a Home
Researchers evaluated how much income households need to qualify for a mortgage on a median-priced home in 35 of the largest cities in the U.S. They factored in a 20% down payment, a mortgage rate of 4.5%, and a 30-year fixed-rate mortgage. READ MORE
Client Tip: Lifespan of Home Appliances
Knowing the lifespan of appliances and home fixtures can help home buyers get a realistic look at replacements or repairs they may need to make. It can also be a point of negotiations between a buyer and seller: If the buyer expects that an aging appliance will need to be replaced soon, they may want that factored into their offer. READ MORE
Elder Equity – Older homeowners continue to rake in the home equity as home values appreciate across the nation, with the latest data revealing that equity levels for the 62-and-older set grew by $104 billion last quarter.HousingWire
Housing Cooldown – Ten of the top 20 metros reported lower price increases compared to the previous month. However, the continued fall in 10-year treasury yield (pushing mortgage rates down) appears to be stemming the cooldown. Expect to reverse course sometime over the May or June S&P releases, with the first increase in national home prices since early 2018.CoreLogic
In 2013, a Redfin study found that homes professionally photographed with high-performance Digital Single-Lens Reflex (DSLR) sold quicker and for thousands of dollars more than homes shot with amateur photos.