The pandemic and high unemployment rate haven’t slowed the housing market. With homebuyers facing heightened competition this summer for a limited number of homes for sale, some have decided to try to gain an edge by waiving contingencies to make their offers more competitive. In June, Redfin reports that nearly 20% of successful offers submitted […]
Industry News
Trump Scraps Fair Housing Rule
Trump and the Department of Housing and Urban Development, led by Ben Carson, last week officially scrapped a rule meant to ensure compliance with the Fair Housing Act of 1968. Enshrined in 2015, the Affirmatively Furthering Fair Housing policy held communities accountable for providing fair housing by requiring any town that wanted to receive HUD […]
Pros & Cons: Good Time to Buy?
House prices have held steady and even increased slightly in the face of the economic shutdown that followed the pandemic. And interest rates are near all-time lows and could potentially go lower still. But on the negative side, employment – though recovering since May – remains a question mark. And with housing inventory remaining tight with […]
6 Mortgage and Real Estate Trends for 3rd Quarter 2020
During the coronavirus crisis, the U.S. economy has experienced a record jump in unemployment, record-low mortgage rates and a whipsawing stock market. All of that leaves the housing market in uncharted waters. “Where is the economy headed? How is the government going to play it? Has unemployment peaked?” asks Michael Franco, head of mortgage firm SitusAMC. […]
July 20 – CVAR Connect
CVAR’s COVID-19 Resources REALTORS®: Updates & Guidelines What’s Happening at CVAR under COVID-19 restrictions Latest COVID-19 Updates from C.A.R. Citrus Valley Association of REALTORS® is conducting all business remotely. Meetings and classes presented by CVAR will be online and free of charge (see available classes below). ____________ July 30: Hostess With the Mostest! _____________ Free Online Classes • July […]
5 Credit Myths Agents Should Explain to 1st-Time Buyers
Before first-time homebuyers pull the trigger on buying a new home, they should understand some common misconceptions in the credit reporting industry as they go through the prequalification and preapproval process. Here’s how agents can dismantle the 5 myths: 1. ‘Closing an old account will help my credit’ This might be one of the most […]
Pandemic Rental Property Scam
With the pandemic pushing the industry toward self-showings, renters and property managers could be at an increased risk of falling prey to online scammers. Tracey Hawkins, a real estate safety expert and founder of Safety and Security Source, is warning managers of a new type of fraud specific to rental properties and self-showings — scammers seeking out properties that are […]
Citrus Valley June Sales Snapshot
The Citrus Valley AOR report for the month of June is provided by C.A.R. researchers. “For the most part, the market improved from the previous month just as our early readings had suggested,” said Research Analyst Guillermo Flores. “Here’s a quote from our 2020 C.A.R. President Jeanne Radsick which pretty much sums it all up”: […]
Blacks, Hispanics Pay More Tax, Get Fewer Loans
Black and Hispanic homeowners pay up to 13% more in property taxes in numerous states, according to a joint study by economists from UC Berkeley and Indiana University—but not in California. Last Thursday, LA County Assessor Jeff Prang, a guest on CVAR’s weekly Happy Hour, explained why. “The constitutional mandate is market value,” said Prang. […]
Phase II: Rancho to Vegas Train
A San Bernardino County transportation agency has entered into an agreement with a private company building a high-speed train from Apple Valley to Las Vegas for a 50-mile spur through the Cajon Pass into Rancho Cucamonga. Calling it phase two of the project, the San Bernardino County Transportation Authority board voted unanimously last Wednesday for […]