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News & Featured Articles
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No Down for VA Loan
Thanks to the Blue Water Navy Veterans Act of 2019, veterans will be able to buy a home without a down payment. They will, however, still have to qualify for their mortgage and be able to afford the monthly payments. READ MORE
Broker Sues Trulia Over Premier Agent
Trulia, an online search portal owned by Zillow Group, is being sued over its Premier Agent program, which allows agents and brokers to advertise buyer’s agent representation on listings.
Redfin Direct Expands in CA
Redfin Direct, a service that lets buyers without agents make offers on homes, continued months of steady expansion this month when it launched in several massive California markets. READ MORE
Cities Report – Nov. 2019
Sales tax headed for the ballot in Azusa; re-fi lowers Baldwin Park property tax bills; Claremont sales tax bid loses by 122 votes. Fuller board cancels plan for campus relocation to Pomona, Rancho Cucamonga approves annexation plan, and much more from CVAR Government Affairs Director Bill Ruh.
Prices Up – CoreLogic HPI, which compares a house’s sales price with its previous sales price, shows single-family home values up 3.4% in the Inland Empire in October, the highest for the Riverside-San Bernardino County area since May. Values were up 2.5% in L.A. County and 1.5% in Orange County. (Daily News)
Inflation Target – As part of its yearlong review of monetary policy tools, the Fed is considering a promise to respond to sub-par inflation by boosting its inflation target, currently set at 2%. Fed policymakers are frustrated by the failure of prices to hit their target even with U.S. unemployment near 50-year lows. (HousingWire)
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In Case You Missed It…
Fannie, Freddie Increase Loan Max
Fannie Mae and Freddie Mac will let mortgage borrowers nationwide take out home loans over $500,000 in 2020. See the loan limits by county.
Boomers Going Big
People in their 60s are bucking the downsizing trend in retirement for all sorts of reasons—from finding a home that better suits them to buying one with room for a live-in parent or visiting family members.
Report Finds Path Toward Affordable LA
Los Angeles’ affordable housing future won’t be found in a skyline crowded with tall towers, but in duplexes, bungalow courts, and accessory dwelling units, according to a new report from the McKinsey Global Institute.