As long as the proper health precautions are in place, seniors say, they are willing to resume home searches and purchases, a report from John Burns Real Estate Consulting shows. Several age-qualified communities nationwide reported particularly strong home sales in August and September. “While the first-time and move-up buyers have clearly been the headlines of […]
Industry News
Is Zoning Key to CA Housing?
As housing shortages deepen across the country, single-family zoning is increasingly becoming a prime target of lawmakers who seek to remake neighborhoods by adding density. Over recent years, some local and state governments—such as Minneapolis and the state of Oregon—have essentially eliminated single-family zoning to make way for more types of housing in response to […]
Investors Await January Carnage
Single-family landlord giants are expecting a surge in repossessed homes as millions of homeowners have fallen behind on their mortgage payments and may be at risk of losing their homes once eviction moratoriums end. The Wall Street Journal reports that landlords are waiting for a “potential bonanza” of distressed properties as well as the emergence […]
Oct. 5 – 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 classes below). ____________ Online at CVAR Oct. 5 | CRMLS Training – Matrix, Agent Essentials Oct. […]
Aug. 2020 CVAR Market Snapshot
Our CVAR update from C.A.R. Research Analyst Guillermo Flores: Overall, the market has been doing well, at least for August. Sales soared from last year by double-digits as rate remained favorable and the statewide median price set a new record and surpassed $700k for the first time. With prices on the rise, mortgage payment on a typical […]
Zillow Launches Brokerage to Boost iBuying
For years, Zillow denied it had plans to become a brokerage. But the listings giant is doing just that, in a move it says will streamline its iBuying operation. Starting in January 2021, the company said salaried agents will work with sellers who want cash offers for their homes through Zillow Offers. In those transactions, […]
Mortgage Credit Availability Tightest Since 2014
With the economy still entrenched in a long recovery from the effects of COVID-19, lenders continued to tighten their standards, resulting in the tightest mortgage credit availability in six years, according to the Mortgage Bankers Association (MBA). The MBA’s Mortgage Credit Availability (MCAI) Index fell 4.7% to a reading of 120.9 in August — its […]
Buyers Ready to Trade Up!
Households happy with their homes before the pandemic have grappled with the compromises they made during the home shopping process. That has sparked a wave of buyers emerging as stay-at-home restrictions lifted—and many of those households have decided to trade up. Prior to the pandemic, house hunters were focused on amenities such as granite countertops, […]
Sept. 14 – 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 classes below). ____________ Online at CVAR • Sept. 14 | CRMLS Training – Manage Listings • […]
Eviction Moratorium for Tenants, Landlords
The Trump Administration’s new eviction moratorium, announced Sept. 1, gives the Centers for Disease Control and Prevention (CDC) authority to bar landlords from evicting most tenants for non-payment of rent through Dec. 31. The moratorium coincides with legislation signed Aug. 31 by Gov. Gavin Newsom (see details here). The new rules, which go into effect as […]