Fannie Mae economists have upgraded the economic outlook for the coming year, and a big reason behind that is expected growth in the housing market. Housing added to economic growth in the third quarter for the first time in more than a year and a half. That momentum will likely continue in the fourth quarter […]
What ‘Affordable’ Looks Like
Communities often oppose “affordable housing” because they think it’s for the destitute. But these days, middle-income earners usually qualify for “affordable housing.” Affordable housing could be more accurately termed “workforce housing.” One REALTOR® describes a difficult transaction that not only involved an individual buyer, but also the local community, which at first opposed her development […]
Oregon First State to Ban Single-Family Zoning
Oregon has become the first state in the nation to require cities with a population of more than 10,000 to permit duplexes in neighborhoods that were once zoned for single-family zoning—or only one home per lot. Oregon Gov. Kate Brown signed four bills into law earlier this month that set out to address the state’s […]
Income Needed to Buy a Home
In the nation’s priciest areas, you’ll need to be in the top 20% to 30% of household earners to afford a median-priced home, according to a study by Zoocasa, a real estate website. Researchers evaluated how much income households need to qualify for a mortgage on a median-priced home in 35 of the largest cities […]
Feb. 19 – CVAR At A Glance
Featured Classes and Events Feb. 19 | Mortgage 101 – CVAR East Feb. 21 | Contract College Session 3 Feb. 22 | Understanding Probate – All Locations Feb. 25 | CRMLS Training – CVAR West Feb. 26 | Project Winning Mindset – CVAR East Feb. 27 | How to Generate Leads – Lunch & Learn […]
CA Housing Affordability Inches Up in 4th Quarter
Lower seasonal home prices allowed more Californians to afford a home purchase in the fourth quarter of 2018 compared to the previous quarter, but higher interest rates pushed affordability lower compared to the previous year, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said Feb. 12. Twenty-eight percent of California households could afford to purchase the $564,270 […]
Who’s Coming/Leaving LA?
Photo by Laurie Schenden/CVAR Los Angeles’s prohibitively high housing costs are forcing many residents to flee the city for more affordable urban areas, according to a new report from BuildZoom and the Terner Center for Housing Innovation at UC Berkeley. Numerous studies have concluded that the number of people moving out of the city (and all of […]
Affordability at 10-Year Low
ATTOM Data Solutions released its Q3 2018 U.S. Home Affordability Report, which shows that the U.S. home prices in the third quarter were at the least affordable level since Q3 2008, a 10-year low. The report calculates an affordability index based on percentage of income needed to buy a median-priced home relative to historic averages, with […]
Oct. 29 – CVAR At A Glance
Featured Classes and Events Nov. 1 | Citrus Valley Caravan Nov. 1 | CVAR Commercial Forum – Free Nov. 1 | Contract College – Session 7 Nov. 2 | First Time Homebuyer – Lunch & Learn Nov. 5 | CRMLS Training – CVAR HQ Nov. 8 | Annuities, The Must-Knows – CVAR HQ Nov. 15 | Real Estate FORWARD – […]
CA Market & Troubling ‘B’ Word
In the California real estate market the “b” word is on the minds of many: Bubble. With reports of sharp declines in home sales, shrinking inventory and rising home prices, it might be an understatement to call California’s situation a puzzle, and one that may have implications for the entire country. June marked the slowest […]