Michael Manigault

Recent declines in mortgage rates are encouraging more homeowners in Los Angeles to refinance their loans for mobile housing, leading to lower monthly payments and increased interest in the market. The Mortgage Bankers Association (MBA) reported a significant surge in refinance applications, with their index rising by 16% last week compared to the previous week. This marks the highest level of refinance activity in two years, with applications up nearly 60% from the same period last year. Overall, home loan applications, including loans for mobile housing, have reached their highest levels since January, driven mainly by the refinancing trend. Despite this, applications for new home loans only saw a modest increase of 0.8% from the previous week and are still down about 11% from a year earlier. Read more at our newest blog below:

Regional leaders are brainstorming ways to keep affordable housing production up and eyeing a hefty funding source. The Bay Area Housing Finance Authority (BAHFA) wants to put a multibillion-dollar bond measure on the November ballot, with the funds going to the region’s nine counties to help facilitate affordable housing. The bond’s details have yet to be determined, though BAHFA is considering a range between $10 billion to $20 billion. #housing #siliconvalley #bayarea https://lnkd.in/gU-SCjEw

Thinking about buying a mobile home in a park? We can help you secure the right loan! Purchasing a mobile home in a California park comes with unique financing options like chattel loans or FHA Title I loans. But navigating the process can be challenging if you don’t know where to start. Here are a few tips to keep in mind: 💰 Explore your loan options: FHA loans, chattel loans, and personal loans each have their pros and cons. 📄 Get pre-approved: Shows sellers you're a serious buyer. 📊 Boost your credit score: The higher your score, the better your loan terms. 🏡 Work with specialized lenders: They know the ins and outs of mobile home financing. 🌟 Check out government programs: California offers programs like CalHFA to help buyers. At Smart Money Mortgage, we specialize in helping you find affordable loans for mobile homes in parks. Let’s make your dream of owning a home a reality! #MobileHomeFinancing #CaliforniaRealEstate #AffordableHousing #LoansForMobileHomes #ManufacturedHomes

There are 800 homes available for sale in San Mateo County. Last week, we had 214 homes come on the market, 40 price changes, 5 listings expire, 28 listings cancel, 3 fall through, 2 come back on the market, 24 offers accepted with contingencies, 106 become pending sales, and 114 close escrow. (Santa Clara County has 1,704 places for sale, of which 1,087 are single family homes.) Locally, there are 43 homes available for under $500,000, and 129 asking $5,000,000 or more. Of the homes that closed escrow, average days on the market (DOM) were 15, 24 and 21 for single family residences, condos and townhomes, respectively. The median DOM was 9, 12 and 10. Median Prices were $2,138,000 for SFRs, $807,000 for condos and $1,325,000 for townhomes. To give you an idea of the market: The lowest priced SFR home sold was a 2 bed/2bath mobile home on a 2,700 square foot lot in a mobile home park for $480,000 in East Palo Alto (HOA $245). The highest price was $16,800,000 in Atherton for a 7,000 square foot house on three acres. (Santa Clara's County's median home sales price = $1,999,999.) Buying or selling a home can be an emotional roller coaster ride. But it doesn't have to be a 'nail-biting' one. I look forward to listening to your needs, supporting you, and using my real estate know-how to help make those ups and downs a little easier to handle. I look forward to talking with you soon. I GET IT DONE AND MAKE IT FUN! Jeannine Gerkman Author, Poet, REALTOR® CalRE# 00980740

There are 734 homes available for sale in San Mateo County. Last week, we had 172 homes come on the market, 47 price changes, 6 listings expire, 16 listings cancel, 4 fall through, 2 come back on the market, 17 offers accepted with contingencies, 112 become pending sales, and 95 close escrow. (Santa Clara County has 1,509 places for sale, of which 977 are single family homes.) Locally, there are 44 homes available for under $500,000, and 127 asking $5,000,000 or more. Of the homes that closed escrow, average days on the market (DOM) were 20, 41 and 29 for single family residences, condos and townhomes, respectively. The median DOM was 9, 26 and 10. Median Prices were $2,300,000 for SFRs, $898,000 for condos and $1,403,000 for townhomes. To give you an idea of the market: The lowest priced SFR home sold was a fixer for $837,000 in Redwood City. The highest price was $23,000,000 in Atherton for a 10,000 square foot house on a little over an acre. (Santa Clara's County's median home sales price = $2,049,000.) Buying or selling a home can be an emotional roller coaster ride. But it doesn't have to be a 'nail-biting' one. I look forward to listening to your needs, supporting you, and using my real estate know-how to help make those ups and downs a little easier to handle. I look forward to talking with you soon.