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Thursday, January 31, 2019

SoCal Homes Sales Plummet To Levels Not Seen Since Housing Crisis | Studio City, CA Patch

SoCal Homes Sales Plummet To Levels Not Seen Since Housing Crisis | Studio City, CA Patch: Home sales plummeted across Southern California last month, bringing totals down to levels last seen at the start of the housing crisis in 2007.

Los Angeles County home sales dropped by 20 percent in December, according to CoreLogic, the real estate information firm. At the same time, home prices barely budged, climbing by just 2 percent, a considerable slowdown from the average pace during the recovery. Sales fell all across Southern California with the steepest decline hitting Orange County where sales dropped by 26 percent.

Experts chalk the slowdown to a variety of factors namely, affordability after years of rising prices outpacing wage increases.

Wednesday, January 30, 2019

Tuesday, January 29, 2019

Home prices rise at slower rate as sales tumble

Home prices rise at slower rate as sales tumble: U.S. home prices rose at a slower pace in November as sales have tumbled and affordability has deteriorated for many would-be buyers.

Monday, January 28, 2019

How to launch yourself into real-estate investing - The Washington Post

How to launch yourself into real-estate investing - The Washington Post: I would have to write a book to even begin to properly cover all the things a new real estate investor would need to know to get started. I am going to try to do it here in just a few hundred words.

I thought long and hard about how to address the topic and provide an end result that is still useful and not just trite clickbait like so much we see these days. I figured I needed to boil this down to the very basics. I had to really think: What are the fundamentals of real estate investing? What is it every aspiring real estate investor needs? It can be different for everyone, and it depends on what motivates you, your expectations, current financial status and more.

Saturday, January 26, 2019

Monday, January 14, 2019

Why Real Estate Brokers Should Consider Offering Property Management Services

Why Real Estate Brokers Should Consider Offering Property Management Services: In any given market, roughly 60-65% of the people live in a home they own. That means at least 35% to 40% live in homes they don’t own. Most brokerages only elect to serve barely two-thirds of the population — the buyers and sellers. What about the other 35% to 40% of the people who still need a roof over their heads?

Sunday, January 13, 2019

Federal workers' looming bills could rock the housing market

Federal workers' looming bills could rock the housing market: As the shutdown enters a record-tying 21st day, a number of worries are piling up, ranging from looming mortgage payments for federal workers to missing rent assistance from the Department of Housing and Urban Development (HUD).

Saturday, January 12, 2019

Real Estate: Millennials May Get Shut Out of the Housing Market | Fortune

Real Estate: Millennials May Get Shut Out of the Housing Market | Fortune: Over the past couple of years, rising pay and low mortgage rates finally converged to make make the dream of home ownership a reality for America’s millennials, many of whom had long been locked out of the housing market. But now, the door is on the verge of slamming on the under-35 crowd, leaving young families outside looking through the picture window—again.

Friday, January 11, 2019

The housing market's future is female | 2019-01-11 | HousingWire

The housing market's future is female | 2019-01-11 | HousingWire: nnial Millennial Tracker realtordotcom
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The housing market is projected to heat up in 2019, and new data from Realtor.com indicates this push will predominantly be driven by Millennial women.

According to the company’s latest study, 50% of the top 20, and seven of the top 10, fastest growing buyer first names belong to Millennial women.

Thursday, January 10, 2019

Seniors, Families, and Others Risk Losing Housing as Shutdown Continues | Center on Budget and Policy Priorities

Seniors, Families, and Others Risk Losing Housing as Shutdown Continues | Center on Budget and Policy Priorities: Hundreds of thousands, if not millions, of low-income seniors, people with disabilities, and families with children that receive federal rental assistance face severe hardship if the government shutdown extends into February and March.

Here’s why:

The Department of Housing and Urban Development (HUD) says it can’t renew up to 1,150 rental assistance contracts with private landlords that expired in December or will expire in January due to a funding shortfall from the government shutdown. Those landlords receive federal subsidies so they can provide apartments at affordable rents to roughly 40,000 low-income households. While a delay of several weeks in renewing the contracts (and restarting the subsidies) likely won’t prompt building owners to evict vulnerable residents, the risks for residents — and for the affected programs’ long-term future — will grow if the shutdown extends into February and March, dramatically boosting the number of residents who could experience severe hardship.

Wednesday, January 09, 2019

How 'frugal minimalism' helped this woman pay off her mortgage in five years

How 'frugal minimalism' helped this woman pay off her mortgage in five years: Kim Lee, the personal finance maven behind “Free to Family,” a YouTube channel with over 41,000 subscribers, says she paid off her quaint four-bedroom house in Arizona in five years through a way of life she calls “frugal minimalism.”

Monday, January 07, 2019

The Best Markets For Real Estate Investments In 2019

The Best Markets For Real Estate Investments In 2019: This coming year, most real estate investors will want to stay away from the cities with soaring prices, where they’re more likely to end up holding the bag than to strike it rich.

Sunday, January 06, 2019

Homebuyers face tougher housing market in 2019, economists say - Chicago Tribune

Homebuyers face tougher housing market in 2019, economists say - Chicago Tribune: Mortgage rates, which climbed through much of last year, will continue to rise in 2019, driving up homebuyers' borrowing costs and shutting others out of the market entirely. The projected result: a cooling housing market and falling home sales nationally.

Saturday, January 05, 2019

Should You Wait To Invest In Real Estate Until The Housing Market Crashes?

Should You Wait To Invest In Real Estate Until The Housing Market Crashes?: I've been seeing a lot of posts on Facebook about another housing crash coming. Many people assume there will be a crash just as bad or worse than the last crash we had about 10 years ago. Since the markets are obviously going to crash, they reason, they will wait to buy real estate until prices plummet.

Friday, January 04, 2019

First-Time Home Buyers Increasingly Turn to Parents for Mortgage Help | Fortune

First-Time Home Buyers Increasingly Turn to Parents for Mortgage Help | Fortune: The number of home buyers turning to their parents for help in affording their houses is on the rise.

In its annual report, the Federal Housing Administration (FHA) revealed that more than 26% of people who received an FHA-insured mortgage in the 12-month period ended in September had family assistance. That was roughly the same as the prior year, but up from 22% in 2011, according to the data. The Wall Street Journal earlier reported on the jump.

Thursday, January 03, 2019

Second homes: Vacation properties for sale in the Florida Keys

Second homes: Vacation properties for sale in the Florida Keys: The Florida Keys are a year-round destination with opportunities for cycling, walking, running, swimming, kayaking, paddle-boarding, boating, scuba diving, snorkeling and fishing.

Key West’s Old Town is most well-known. But Stacey Pillar, a realtor at Coldwell Banker Schmitt Real Estate Co. in Key West, says there are other neighborhoods that have homes for those who want to buy vacation properties.

Pending Home Sales Fall in November: Homebuilder ETFs in Focus

Pending Home Sales Fall in November: Homebuilder ETFs in Focus: Rising rates and escalating housing prices are proving to be significant headwinds for the housing sector. Contract signings to purchase previously owned homes plunged for the second month in a row in November. Per National Association of Realtors (NAR) in Washington, index of pending home sales declined 0.7% in November and 7.7% on a year-over-year basis on an unadjusted basis (read: Fed Hikes Rates But Offers Dovish Outlook: ETFs to Play.)

The housing market has been affected by land and labor shortages, resulting in tighter inventories. Pending home sales have declined in six of the last eight months, signaling more trouble for the housing sector. The monthly reading for October remained unrevised at 0.6% decline from the previous month.

Wednesday, January 02, 2019

The top real estate broker in the US believes in 2 rules of selling - Business Insider

The top real estate broker in the US believes in 2 rules of selling - Business Insider: Ben Caballero sold 4,799 homes worth a cumulative $1.9 billion in 2017 — an average of 92 homes per week.

This feat has placed him firmly as the top real-estate agent in the US, according to Real Trends, a residential brokerage industry publication. He was recognized by Guinness World Records for selling 3,556 homes in 2016.

Tuesday, January 01, 2019

New year, same old housing madness | The Seattle Times

New year, same old housing madness | The Seattle Times: After having the hottest housing market in the country for two years, Seattle home sales have cooled and the city has dropped to fourth place behind San Francisco, Las Vegas and Phoenix. This is annoying news for people who paid way over the asking price for their house purchases at the height of the market a few months ago