Got $4,332 a month? That's the estimated house payment for a buyer who acquired the median-price California home in June at prevailing interest rates. A record high, no less. But how can prices be rising when so few are buying? Who can afford to buy with mortgage rates and prices so high? Such conflicts are why California homes were bought at only a 277,490 annual pace in June – the 20th slowest month since 1990.
Lisa Baniahmad’s Post
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California’s homeownership rate hit a 13-year high last year, minus questionable pandemic data from 2020, according to business journalist Jonathan Lansner. In 2023, 55.8 percent of Californians lived in a home they owned, up from 55.3 percent in 2022.
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A new report published by Fitch Ratings found that homes were overvalued by 11.1% at the end of 2023, a trend occurring in about 90% of U.S. metro areas. What is the ACCURACY on your home? That’s where I come in.
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HUD Launches New Program to Invest in Manufactured Home Communities The U.S. Department of Housing and Urban Development, through the Federal Housing Administration (FHA), last week announced the launch of its new Manufactured Home Community loan product, which will provide an FHA-insured financing option for the purchase, refinance, and revitalization of manufactured home communities. Under this new program, which is now available, certain mission-focused entities such as resident-owned manufactured home communities, cooperatives, non-profit entities and consortia, state and local governments, community development financing institutions, and Indian Tribes, will be eligible to use this program to finance the acquisition of or to improve existing communities, including making updates to common area resources and helping to maintain rent affordability
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Mello Roos is often maligned, but these pretty vistas would not exist around the US if not for the money generated by Mello Roos... #silverlinings
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After years of waiting for the right time to buy, millennials are now getting on the property ladder, especially in Southern California where 37.1% percent of new mortgages issued in 2023 were to millennials aged between 35 and 44, according to analysis of the Home Mortgage Disclosure Act (HMDA) data covering purchases of primary homes. This is the 3rd highest share of mortgages taken out by older millennials out of the 50 most populous metropolitan areas. Other California cities where the share of new mortgages issued to homebuyers aged 35 to 44 was above the 30 percent mark were Oakland, with 37.2 percent; San Jose, with 37.1 percent; Anaheim with 33.2 percent; San Diego with 31.8 percent, and Sacramento, with 30.9 percent.
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Since termites are a home's biggest nemesis, this is great news. https://lnkd.in/g5NsC36i?
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Whatever your reasons for selling may be, I'm sure that home buyers out there are grateful you might be ready to sell. Choosing not to fix some things will help keep prices down. https://lnkd.in/gmi7JW6k
What Not to Fix When Selling a House: 10 Tips Pros Want You to Know
msn.com
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Home Ownership: Beating inflation since... gosh... just about forever.☺️
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Still waiting for home prices to "moderate" or drop? Not gonna happen. This year's prediction of 3.5% rise is spot-on, and look at what awaits us for the next 3.
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