Jieranai Maier Real Estate

CASH IS KING. I have few more properties for A QUICK CASH SALE. Email Me. [email protected] Jieranai Maier #01785483 Allison James Estates & Homes https://www.realtor.com//42111-Majestic-Ct_Temecula_CA_925

Landlords lose homes as foreclosure moratorium ends by: Jaime Chambers Posted: Jan 8, 2021 / 02:05 PM PST / Updated: Jan 8, 2021 / 02:15 PM PST SAN DIEGO A moratorium on foreclosures has been in place since the beginning of the coronavirus pandemic but now that it is over, landlords are starting to lose their investment properties to foreclosures.... The foreclosure moratorium has stopped, said Real Estate Attorney Kent Sharp. We are now seeing a lot coming forward with a lot of lenders saying, ‘You owe me money,’ and the reason they owe money is because a lot of landlords can’t pay the full amount that is owed. Sharp, who represents renters and landlords, says it’s nearly impossible to evict renters, leaving landlords unable to pay back loans and eventually facing foreclosures. If they’re not getting the resources and the money coming in from their tenants, which they’re not, then it’s all on them, said Sharp. RELATED CONTENT As county approves relief for renters, landlords group voices own concerns Renters prepare to strike as landlords urge normal payments Lawmakers propose Housing Assistance Fund to prevent foreclosures, evictions during pandemic When banks take the property from landlords, the renters stay put as well, making the banks struggle with a non-performing asset. Sharp says real estate experts are watching California’s fresh pandemic funds, which are expected to support the financial gap between renters and landlords. In California, there’s $2 billion on the side that’s going to be administered, said Sharp. The question is, how is that going to be administered? Is it going to be administered to the landlord side? Is it going to be administered for the protection of the tenants? And that’s the big fight right now. Additionally, even if a case is cleared to see a judge, finding time on a court docket can be a challenge. These courts are so impacted that justice isn’t being done, said Sharp. https://fox5sandiego.com//landlords-lose-homes-as-foreclo/

Real estate market's momentum will continue into 2021, expert says National Association of Realtors chief economist predicts 2020's housing momentum will carry into 2021 By James LeggateFOXBusiness Century 21 CEO: Winter 2021 could be best ever for real estate... It’s no secret that 2020 has seen a booming real estate market despite the economic woes the coronavirus pandemic has caused. But can that keep going in 2021? Lawrence Yun, chief economist at the National Association of Realtors, thinks so. Lawrence Yun, chief economist at the National Association of Realtors, believes 2020’s growth will continue in 2021. (Bing Guan/Bloomberg via Getty Images) BOOMING REAL ESTATE MARKET ‘A BIG SURPRISE’ AMID COVID-19 PANDEMIC First, Yun is expecting the Federal Reserve will continue low interest rates as officials have said they want to do so for several years. So at least through 2021, one can anticipate a low interest rate, he said. Record-low rates played a major role in 2020’s booming real estate market, which saw months of consecutive growth and double-digit year-over-year price gains despite high unemployment and economic uncertainty amid the coronavirus pandemic. Further, he said, COVID-19 vaccines will boost job creation and, in turn, benefit the housing sector. Record-low interest rates played a major role in 2020’s booming real estate market. (Xinhua/Wang Ying via Getty Images) HOW TO KNOW IF THE REAL ESTATE MARKET IS TURNING The growth in people working from their homes during the pandemic may also continue to buoy home-buying, he noted, especially in communities traditionally seen as vacation destinations. Yun isn’t sure all those workers will be returning to their offices. Many people are assuming they could work from home more frequently than before and hence want to have a larger-sized home, Yun said. Instead of going downtown every single day, why not live further out where things are more peaceful and they can get a larger-sized home at a more reasonable price? The market saw months of consecutive growth and double-digit year-over-year price gains despite high unemployment and economic uncertainty amid the pandemic in 2020. (iStock) GET FOX BUSINESS ON THE GO BY CLICKING HERE And even homeowners who stayed put through the pandemic may feel the itch for a change of scenery after seeing how their circumstances have shifted, according to Yun. That could turn into a lasting trend. These are homeowners who were perfectly content with their home before the pandemic, but now because they witnessed the pandemic, work-from-home flexibility, they’re itching for some larger-sized home or maybe different areas, quiet areas, Yun said. People who would not consider buying or selling a home several years ago are now beginning to be tempted to consider that, and that will filter in continuously through 2021. https://www.foxbusiness.com//2021-real-estate-market-will-

Tuesday, January 5, 2021 Inland Empire, Orange County see biggest house price gains in 6 years Home values jumped 10.8% in Riverside and San Bernardino counties, 7.2% in L.A. County and 6.5% in O.C., according to the CoreLogic Home Price Index....Continue reading

Los Angeles County median home price jumps 12% to $700,000 Los Angeles County’s homebuying rebound continued as historically low interest rates helped create the busiest November in 14 years. A study by DQNews of closed transactions in Los Angeles County from November show By JONATHAN LANSNER | [email protected] | Orange County Register PUBLISHED: December 25, 2020 at 8:01 a.m. | UPDATED: December 25, 2020 at 8:02 a.m. Los Angeles County’s homebuying rebound continued as h...Continue reading

NEWSHOUSINGNews Southern California home prices jump 11% in November The region had its busiest housing market for the month in 14 years, DQ News reported based on figures from real estate data firm CoreLogic. By JEFF COLLINS | [email protected] and JONATHAN LANSNER | [email protected] | Orange County Register PUBLISHED: December 17, 2020 at 7:00 a.m. | UPDATED: December 17, 2020 at 3:49 p.m....Continue reading

Residential Real Estate (Plunging) U.S. mortgage rates crack new historic low The 30-year fixed mortgage rate averaged 2.67% for the week ending Dec. 17 down from 2.71% last week.... The 30-year fixed mortgage rate averaged 2.67% for the week ending Dec. 17 down from 2.71% last week. By DBJ Staff 14 hours ago The 30-year fixed mortgage rate averaged 2.67% for the week ending Dec. 17 down from 2.71% last week. https://www.bizjournals.com//u-s-mortgage-rates-hit-anothe

NEWS HOUSINGb Opinion Columnist Regulator ends debt-ratio standard for mortgage approvals New standards will boost loan approvals for jumbo and underserved borrowers. From the earliest days of mortgage loan approval standards, first and foremost, it had to be the math....Continue reading

Those are the three best words, once we get used to being outside of our homes. What's one thing your house could use that would make staying in that much sweeter 39801 Berenda Road, Temecula, Ca 92591 Country Home In the Temecula Wine Country. Jieranai Maier, California DRE 01785483 https://www.realtor.com//39801-Berenda-Rd_Temecula_CA_9259 #thehelpfulagent #home #houseexpert #realestate #listreports #house #stayhome #homeowner #homebody #realestateagent #TemeculaWineCountry #39801BerendaRd #CountryHome #HorseProperty #RoomsToRoam #FunInTheCountry

Realtors apologize for role in housing racial discrimination By BLOOMBERG | | PUBLISHED: November 19, 2020 at 5:19 p.m. | UPDATED: November 19, 2020 at 5:19 p.m. By John Gittelsohn | Bloomberg...Continue reading

NEWSHOUSINGOpinion Columnist Bubble Watch: 33% of Southern California homebuyers paying above list price Nationally, 22% of buyers paid above the asking price. Bubble Watch digs into trends that may indicate economic and/or housing market troubles ahead....Continue reading

Realtors’ rule change fights members’ hate speech on social media 'Unprecedented' wave of complaints spurs anti-discrimination action The National Association of Realtors is pondering a noble step against hate by upping the stakes in its fight against discrimination in the homebuying process.... The trade group’s board of directors is scheduled to vote Nov. 13 on proposed changes to its code of ethics, expanding what’s considered discriminatory actions from just real estate activities to include member’s off-hours public statements most notably online comments and postings. The association said an unprecedented wave of complaints about its members’ social media conduct during this tumultuous year was the motivating factor. Under current rules, the association admits members can engage in conduct and speech that is discriminatory and abhorrent without penalty unless tied directly to real estate work. So its ethics committee proposed stiffer and broader enforcement because speech and conduct reflect on the Realtor organization whether said publicly on a business social media profile, or privately on a personal one. Let’s face the ugly facts. Homebuying and lending have a long legacy of discrimination sadly, some of that done with Realtors’ help and the government’s blessing. Look at various industry statistics and you’ll see there’s still an unfair playing field for certain house hunters. Yes, industry leaders have said, seemingly forever, that they want to begin to fix these inequities. Yet I’ve been stunned over the years to see what folks in the real estate field will say on social media. Not only is some of it, at a minimum, hurtful speech, I wonder what good it does for that person’s business career unless they’re catering to like-minded clients. Matt Difanas, head of the association’s standards committee that wrote the proposed rules, knows this isn’t a widely popular change and he welcomes uncomfortable discussions. In an association video he recounts samples from the mountain of hate speech by Realtors from the use of racist and homophobic slurs not worth repeating in this space to one member itching to use his $1,500 rifle on, well, a vile racial epithet. Modern-day hate isn’t a good mix with Realtors’ unsavory history, Difinas says. We quite literally drew the color lines, he said on an association video. Our fingerprints as Realtors are all over the redlining maps which, 52 years after fair housing became the law of the land, still scar our landscape. By JONATHAN LANSNER | [email protected] | Orange County Register PUBLISHED: November 6, 2020 at 9:30 a.m. | UPDATED: November 6, 2020 at 9:31 a.m. READ MORE: https://www.dailynews.com//realtors-rule-change-fights-me/?

Southern California house prices see biggest gains in 2 years Inland Empire house prices jumped almost 8% in September, followed by gains of 6% and 5% in L.A. and Orange counties, according to the CoreLogic Home Price Index. Low mortgage rates and buyer competition for a low supply of homes for sale boosted house price appreciation to the highest level since the spring and summer of 2018, CoreLogic’s Home Price Index shows. The index is based on comparisons of each home’s sal...Continue reading

There are a lot of good reasons to sell, and I'd love to talk yours over with you! What’s spurring on your home search? #thehelpfulagent #home #houseexpert #house #listreports #sellnow #dreamhome #dreamhouse #realestate #realestateagent

San Diego home price keeps breaking records. Its new high: $650K A remodeled home for sale in Normal Heights. A remodeled home for sale in Normal Heights on Wednesday, Oct. 21, 2020. Home prices in San Diego County have continued to rise since the beginning of the COVID-19 pandemic. (Kristian Carreon/For the San Diego Union-Tribune) A lack of homes for sale in the pandemic is seen as a major factor raising prices By PHILLIP MOLNAR...Continue reading

San Diego city attorney moves to shut down La Jolla Airbnb party mansion La Jolla short term vacation rental This La Jolla Farms mansion, which has been rented out on Airbnb and other home sharing platforms, was the target of multiple complaints to the police about loud, raucous parties. Airbnb has since taken down the listing from its site.(Kristian Carreon/For the San Diego Union-Tribune) Owners, manager, and lessee of the one-acre property are charged with violations of pu...Continue reading

4th straight record high price for SoCal BY JONATHAN LANSNER Homebuying's rebound continues. Driven by record-low mortgage rates and a low inventory of homes for sale, Southern California home prices hit a record high in September for a fourth consecutive month. Home sales also shifted into high gear, with transactions climbing to the busiest August since 2006! NEWSHOUSING News Sizzling home sales push Southern California prices to fourth record high...Continue reading

California's biggest price jump in 6 years BY JONATHAN LANSNER The median sales price for an existing single-family house in California was $712,430 in September, up 17.6% in a year, says the California Association of Realtors. Bubble Watch: California house prices hit record high 4 months in a row...Continue reading

Four steps to getting your home ready for market The daunting task of cleaning, clearing and painting can best be tackled by breaking it into phases. (File photo by David Crane, Los Angeles Daily News/SCNG) By LESLIE SARGENT ESKILDSEN |...Continue reading

Southern California house hunters remain active with a quick start to the traditionally slower autumn buying season: the 14th straight week of gains in the year-over-year count of new escrows. According to Zillow, in the week ending Oct. 3, new pending sales in Los Angeles, Orange, Riverside and San Bernardino counties were up 8.9% from 2019 continuing an upswing that started July 4. Cheap mortgages and an urge for more living space in the pandemic era is keeping a summer r...Continue reading

California house prices, sales to climb in 2021, Realtors forecast After falling three years in a row, sales of existing single-family homes are forecast to rebound 3.3% in 2021, according to the California Association of Realtors. The median California house price will rise 1.3% to $648,800, the forecast says. House sales are forecast to increase 3.3% in 2021 from 2020 levels, while the median price of a California house is forecast to increase 1.3% to $648,800, according to...Continue reading

Southern California mortgage brokers suspected in fraudulent loan applications Fannie Mae is warning lenders about service industry borrowers who misrepresent their incomes. (Chart by the Orange County Register/SCNG) By JEFF LAZERSON | [email protected] | MortgageGrader.com...Continue reading

Temecula Valley Wine Country Balloons

Berenda Road Ranch - 39801 Berenda Road, Temecula, CA 92591

Inland Empire ranked tightest US home market Inland Empire remains nation’s tightest housing market Reluctance to sell tied to virus fears, financial stress. DATA DIVE: Why you can't find I.E. home to buy... BY JONATHAN LANSNER Weekly stats on pending sales and listings ... plus insider smarts from our contributors! Weekly stats on pending sales and listings ... plus insider smarts from our contributors! The supply of homes for sale in Riverside and San Bernardino counties was 48% below year-ago levels for the week ending Sept. 26. And has been the case for much of the summer, according to a Zillow analysis, that's the biggest inventory drop among the 50 largest housing markets tracked. Inventory in Los Angeles and Orange counties is down 25% The Inland Empire continues to rank as the nation’s tightest housing market, by one measure. The supply of homes for sale in Riverside and San Bernardino counties was 48% below year-ago levels for the week ending Sept. 26, according to a Zillow analysis. And was the case for much of the summer, it’s the biggest inventory drop among the 50 largest housing markets tracked. Inventory in Los Angeles and Orange counties is down 25%, which in normal years might seem big. Yet in 2020’s pandemic-crazed market, it’s the ninth smallest drop nationally and trails the U.S. average 35% drop. Homeowner reluctance to sell can be tied to coronavirus fears, financial stress and a daunting question: What would I buy if my house sells? The tight market has frustrated house hunters, motivated by historically low interest rates and desires for larger living quarters. As a result of thin supplies and the urge to own, prices have risen sharply. For example, Riverside County’s median sales price for August hit $441,000 topping a 2006 bubble-era high. In San Bernardino County, the $380,000 median tied its 2006 high. Other local tidbits from the Zillow report, starting with the Inland Empire: Pending sales: New escrows fell 1.9% from last week but are 11.3% higher than last year. Time, escrow from listing: Under contract after 9 days, 16 days faster than last year. Median list price: Up 16% in a year to $482,348. As for L.A.-O.C. Pending sales: New escrows 0.4% from last week but are 10.7% higher than last year. Time, escrow from listing: Under contract after 12 days, 11 days faster than last year. Median list price: Up 14% in a year to $954,500. By JONATHAN LANSNER | [email protected] | Orange County Register PUBLISHED: October 2, 2020 at 1:46 p.m. | UPDATED: October 2, 2020 at 3:28 p.m. https://www.sbsun.com//inland-empire-remains-nations-tigh/

Interesting read for RE article: Commentary Where Did All of the Evictions Go? Evictions plummeted even in cities without eviction bans....Continue reading

Pandemic economy pushing Californians inland Fear of population density is a factor. So is the ability to lower housing costs by relocating thanks to expanded "work from home" policies. California’s inland communities rarely seen as hot properties could become beneficiaries of the pandemic’s economic fallout as workers untethered from offices seek housing away from big cities. Fear of population density is one factor driving a change in housing preferences. So is the abil...Continue reading

JUST SHARING THE ARTICLE! ;) NEWSHOUSING Opinion Columnist Selling your home? Here are some camera-ready staging tips...Continue reading

Home sales reach a 14-year high in August, with prices hitting a new record By Anna Bahney, CNN Business Updated 2:25 PM EDT, Tue September 22, 2020 Home sales surged to a 14-year high in August as record low interest rates brought homebuyers out in droves and pushed prices to a new record high....Continue reading

Testing my vimmo's video:

.

Just listed: https://www.realtor.com//42111-Majestic-Ct_Temecula_CA_925 4bed 4bath 4,110sqft 0.25acre lot 42111 Majestic Ct, Temecula, CA, 92592 Jieranai Maier $01785483 951.751.1796... Virtual Tour: https://vimeo.com/462748522 See more

CNBC San Francisco housing has cooled as some flee the city, but demand is still there Jordan Novet 6 hrs ago In nasty tweet, President Trump calls for pre-debate drug test for Joe Biden The Most Mispronounced Places in America...Continue reading

Southern California home prices jump 12% to record high $600,000 Low interest rates and a lack of homes on the market created upward pressure on home prices, even as unemployment rates remain stubbornly high. Southern California home prices jump 12% to record high $600,000...Continue reading

Bubble Watch: Southern California credit union deposits soar 19% Leading the savings growth were checking accounts (up 27%); basic savings accounts (up 23%); money market accounts (up 18%); and certificates of deposit (up 11%). New auto loans fell 3%, but borrowing for used vehicles rose 5%. Consider that a sign folks who are spending are being thrifty about it....Continue reading

Residential Real Estate News WORLD NEWSRESIDENTIAL NEWSCOMMERCIAL NEWSVACATION NEWSSPONSORED NEWSPRESS RELEASES...Continue reading

U.S. existing-home sales increase to fastest pace since 2006 The housing sector has been one of the strongest parts of the economic rebound. Properties remained on the market for an average of 22 days in August, the NAR said. Sixty-nine percent of homes sold in August were on the market for less than a month. (Brandon Thibodeaux/The New York Times) By BLOOMBERG | |...Continue reading

Inland Empire homes for sale drop 47%, Los Angeles-Orange County off 24% Inland Empire drop is largest in U.S. By JONATHAN LANSNER | [email protected] | Orange County Register PUBLISHED: September 21, 2020 at 8:42 a.m. | UPDATED: September 21, 2020 at 1:21 p.m. Inland Empire house hunters are searching for properties in the nation’s tightest market, according to one survey.... The number of existing homes listed for sale in Riverside and San Bernardino counties fell by 47% in the year ended in August, Zillow reports. That’s the deepest decline among 50 large metropolitan areas tracked by the real estate firm. Pandemic fears, financial challenges and quick-selling homes have kept many owners from selling locally and across the nation. It’s made buying tricky for those looking to cash in on historically low mortgage rates. It’s a sharp change, too. A year ago, Inland Empire listings were running 6% above their 2018 pace. The tightening supply pushed home values in Riverside and San Bernardino counties, by Zillow’s math, up 5.7% in the 12 months the No. 21 gain among the 50 metros. Nationwide, there were 29% fewer homes on the market over the year where values rose 5.1% to $400,664. After the Inland Empire, the biggest inventory drops were found in Baltimore (down 44%) and Kansas City (down 42%). Sign up for The Home Stretch email newsletter filled with housing news from around the region! Subscribe here. The supply of existing homes for sale in Los Angeles and Orange counties was down 24% in the year, the 11th smallest drop. A year ago, inventory was running flat compared with the 2018 pace. L.A.-O.C. home values were up 5.9% to $706,714 the 18th largest gain among the 50. Elsewhere in California, San Francisco’s supply actually rose 2% in a year the only metro that saw a gain. Sacramento’s supply was off 41%, the No. 7 drop among the metros. San Diego was down 37% (No. 17) and San Jose was off 19% (No. 44). So, which metro saw the biggest value gain in the year? Phoenix, up 10.5%. Smallest? Chicago, up 2%. RELATED ARTICLES Will commercial real estate pause for presidential election? Eviction bans taking a bite out of landlords’ bottom line Coronavirus: 10 economic questions posed by the pandemic Why are the lowest mortgage rates so hard to capture? Census: 30% of Inland Empire late on rent, 17% in Los Angeles-Orange County https://www.sbsun.com//inland-empire-home-listings-fall-4/ See more

Homebuyer Traffic Is on the Rise One of the biggest surprises of 2020 is the resilience of the residential real estate market. Lawrence Yun, Chief Economist of the National Association of Realtors (NAR), is now forecasting that more homes will sell this year than last year. He’s also predicting home sales to increase by 8-12% next year. There’s strong evidence that he will be right. Home buyer traffic jumped again in July, recording a 60.7 percent year-over-year increase in ...nationwide showing activity. That means there are 60% more buyers setting appointments to see homes than there were at this same time last year. The number of potential purchasers was also up dramatically in every region of the country: The Northeast was up 76.6% The West was up 56.7% The Midwest was up 52.1% The South was up 46.7% The Housing Market Is Showing a ‘V’ Type Recovery ShowingTime also indicates the real estate market has already come back from the downturn earlier this year that was caused by shelter-in-place orders. Here are the year-over-year numbers for each region on a monthly basis (See graph below): We’re way ahead of where we were at this time last year. This data validates the thoughts of Frank Martell, President and CEO of CoreLogic, who recently noted: On an aggregated level, the housing economy remains rock solid despite the shock and awe of the pandemic. Bottom Line If you’re thinking about selling your house, this may be a great time to get the best price and the most favorable terms. The Latest Unemployment Rate Fell to 8.4% Virtual School Is Changing Homebuyer Needs [INFOGRAPHIC] SEPTEMBER 10, 2020/0 COMMENTS/BY KCM CREW https://www.keepingcurrentmatters.com//homebuyer-traffic-/

Home sellers’ asking prices jump 34% in California $735,000 median is up $187,000 this year By JONATHAN LANSNER | [email protected] | Orange County Register PUBLISHED: September 14, 2020 at 10:39 a.m. | UPDATED: September 14, 2020 at 12:03 p.m....Continue reading

Freedom to Telecommute Could Add Almost 2 Million Potential Buyers to the Market By Treh Manhertz on Sep. 5, 2020 A switch to more telework could give 1.92 million U.S. renters (4.5% of renter households) the option to leave the metropolitan areas where they currently live and buy a starter home in a cheaper locale. Starter homes are more expensive than the nation as a whole in 37 of the 50 largest U.S. metros. Fleeing from a metro’s central city to it’s suburbs is not as bro...Continue reading

15-year fixed mortgages drop to record lows (Chart by the Orange County Register/SCNG) By JEFF LAZERSON | [email protected] | MortgageGrader.com PUBLISHED: September 3, 2020 at 1:01 p.m. | UPDATED: September 3, 2020 at 1:25 p.m.... Thirty-year fixed mortgage rates rose slightly in the week ending Thursday, Sept. 3, but still were at their third-lowest level in records dating back 49 years, according to Freddie Mac. The 15-year, fixed-rate mortgage, however, fell to an all-time low in records covering the past three decades. For real estate markets, low mortgage rates remain a potent fuel, driving demand and keeping purchasing activity rolling, George Ratiu, a senior economist at Realtor.com, told the Washington Post. However, fast-shrinking inventory and aggressive price gains are combining to outrun buyers’ ability to afford a home as we head into the cooler season. Here’s an overview: Freddie Mac rate news: The 30-year fixed-rate averaged 2.93%, up two basis points from last week. The 15-year fixed rate averaged 2.42%, down 4 basis points from last week to a record low. The Mortgage Bankers Association reported a 2% decrease in loan application volume from one week earlier. Bottom line: Assuming a borrower gets the average 30-year fixed rate on a conforming $510,400 loan, last year’s payment was $156 more than this week’s payment of $2,133. What I see: Locally, well-qualified borrowers can get the following fixed-rate mortgages with 1 point cost: A 30-year FHA at 2.25%, a 15-year conventional at 2.125%, a 30-year conventional at 2.5%, a 30-year FHA high-balance 2.625%, a conventional high-balance ($510,401 to $765,600) at 2.625%, and a 30-year jumbo fixed rate at 3.25%. Note: The 30-year FHA is limited to loans of $442,750 in the Inland Empire. Eye catcher loan of the week: A 30-year fixed-rate conventional mortgage at 2.25% with two points. https://www.presstelegram.com//15-year-fixed-mortgages-d/ Jeff Lazerson is a mortgage broker. He can be reached at 949-334-2424 or [email protected]. His website is www.mortgagegrader.com.

Countries and U.S. States With the Cleanest Listings The U.S. listings that made the rankings are mostly on the west coast. BY CAILEY RIZZO AUGUST 28, 2020...Continue reading

Have you thought about what home features will make both you and your furry friend happy? It's important to find a home that works for everyone - even your pets! Message me to find the perfect home for everyone in your family. #thehelpfulagent #home #houseexpert #dog #listreports #doghouse #househunting #realestate #realestateagent

AdChoices US News & World Report RE Why Outdoor Space Matters When Buying a Home Tania Isacoff Friedland 3 hrs ago...Continue reading

For Buyers, For Sellers, Housing Market Updates Sellers Are Returning to the Housing Market Sellers Are Returning to the Housing Market ...Continue reading

BUSINESSHOUSING Explainer, News Watch: Southern California owners balk at listing homes for sale Listings down 35% in a year SoCall home listings, tallied by Zillow. (Graphic: Flourish)... By JONATHAN LANSNER | [email protected] | Orange County Register PUBLISHED: August 24, 2020 at 7:00 a.m. | UPDATED: August 24, 2020 at 7:00 a.m. Local homeowners continue to keep their homes off the market as the graphic above displays. Zillow statistics for the four-county region show a market strained by a lack of selling homeowners with 26,068 existing residences listed for sale in Southern California in the week ended August 15 down 35% in a year. It’s not just a local pattern: Inventory is off 28% nationally. Some owners are spooked by coronavirus fears. Others are worried they won’t be able to find another home in a tight market. And some have financial woes. Southern California mortgages 60 days late hit record high in May. Still, house hunters continue to sign more sales contracts. Southern California house hunters put 3,789 existing residences into escrow in the week ended August 15 up 0.3% in a week and up 4.8% in a year. New pending listings have grown in 15 of the past 17 weeks as the market rebounds from an initial pandemic shock. By the way, national escrows are up 15% in a year. Buyers, lured in by low mortgage rates, seem to have ignored job-loss fears. Southern California’s unemployment rate was 15.9% in July. But remember, pending sales hint where closed sales will go. The deals must wind their way through the escrow process, including loan approval in deals requiring a mortgage. Closed sales in July ran 2.5% above 2019’s buying pace, according to DQNews. https://www.dailynews.com//watch-southern-california-owne/

Southern California home prices hit record highs as sales rebound in July – Orange County Register Despite the pandemic, Southern California home prices rebounded in July for a second straight month, with medians at all-time highs in four out of six counties, new housing numbers by CoreLogic/DQ News showed Thursday, Aug. 20. This time, sales revived, too, rising to the highest level for any month in two years....Continue reading

Keep These Tacky Things Out Of The House: According To Joanna Gaines Architecture | By Hadar Gerlitz (I LIKE TACKY THINGS LOL ) ...Continue reading

U.S. San Francisco's mass exodus: Twice as many homes are for sale compared to last year as people look to leave the city San Francisco housing inventory has risen 96% year-over-year, meaning there are nearly twice as many homes listed for sale as there were this time last year, per a Zillow report....Continue reading

The Housing Markets That Have Recovered Most Since the Start of the Pandemic The U.S. economy is a hot mess. But the housing market is, strangely, bouncing back. Bidding wars and offers over asking price have returnedbut in some markets more than others. The comeback kids These are the markets that have recovered the most since the beginning of the COVID-19 crisis:... Boston, MA, 122.52% Seattle, WA, 113.73% New York, NY, 112.74% Philadelphia, PA, 112.35% Denver, CO, 111.66% San Francisco, CA, 109.27% Los Angeles, CA, 108.78% Las Vegas, NV, 107.710% Rochester, NY, 106.61% Memphis, TN, 105.9% READ MORE: https://www.realtor.com//these-markets-have-recovered-th/

Aug 8, 2020, 06:00am EDT Multiple Offers And Bidding Wars Return To California’s Luxury Real Estate Market Ellen Paris Contributor Multiple offers and bidding wars return to California's luxury market. Despite a severe economic downturn in many sectors, California's luxury real estate market is on a high. ... Listen to Valery Neuman, founding partner of Compass Greater Palm Springs. In 29 years selling full-time in the desert, I have never been so busy. Buyers are very serious right now. Even though we can’t hold open houses properties are selling as soon as they are listed with multiple offers, explains Neuman one of the Desert’s top producing agents with over $100 million in total sales volume. Our inventory is running low on the upper end or we would be seeing even more sales, she adds. Mark McLaughlin, president of Compass California understands all the nuances of the luxury market. "The March 15th California SIP order created a phenomenon we are now calling the COVID housing surge. People are somewhat fleeing urban density and pursuing space, both internal and external. Home offices, extra bedrooms, open space/pools are commanding premiums," observes McLaughlin who in 2018 led the merger of San Francisco-based Pacific Union with Compass California, a leader in market share in California. https://www.forbes.com//multiple-offers-and-bidding-wars/

Research COVID-19 Creates Housing Boom Low mortgage rates combined with more time at home are spurring a real estate boom. By ALM Staff | August 07, 2020 at 06:45 AM... COVID-19 continues to stir the home real estate market and upset the plans of homeowners. Despite the uncertainty in the overall economy, though, demand for homes is remarkably strong. Somewhat counterintuitively, the coronavirus-driven recession is propping up the housing market, said Daryl Fairweather, chief economist for real estate brokerage company Redfin. Homebuyer demand is surging despite GDP taking a historic nosedive in the second quarter, largely because Americans value the home more than ever and are willing to prioritize housing even as they cut back on other expenses. The pandemic is causing homebuyers to rethink their plans and priorities. According to a Redfin survey, three-quarters of homebuyers who plan to purchase a home within the next 12 months say the pandemic has affected their plans. Of those buyers, 25% say it has caused them to move and/or speed up their moving timeline, while 20% say it has caused a delay in their moving plans and 17% say they’re now seeking a less expensive home. Homebuyers’ preferences have also shifted due to the epidemic. Additional space is now a top priority21% of respondents say they want a designated work area and another 21% more outdoor space. Additionally, 10% desire a bigger home. What’s driving these trends are low mortgage rates and the amount of time people are spending at home during COVID-19. Of the respondents who say they’re moving because of the pandemic, 55% cite low mortgage rates as a key factor. (At time of the survey, the average 30-year mortgage-interest rate was 2.98%.). So despite high unemployment and an uncertain economy, we’re seeing a housing market boom. For the week ending July 26, pending sales were up 12% year, and the median sale price was up 11% the biggest increase since 2014. Of course, plenty of people are not in an economic position to move. Of those who are delaying their moving plans, 45% cite financial concerns. When the pandemic first hit, a few buyers canceled contracts due to economic uncertainty and concerns about potential layoffs, said Phoenix Redfin agent Thomas Wiederstein. I’ve also had some clients take breaks from searching because they don’t know how the economic situation is going to play out. But then there’s the other side, those who are encouraged by low mortgage rates, sitting around in their tiny apartment dreaming of the space a single-family home can offer. https://www.globest.com//07/covid-19-creates-housing-boom/

Highest home ownership in 12 years. Huh? If this happy statistic sounds unlikely to you, you're right. The Census Bureau admitted that 2Q "data collection operations were impacted" by COVID-19. The homeownership rate of 67.9 percent was 3.8 percentage points higher than the rate in the second quarter 2019 (64.1 percent) and 2.6 percentage points higher than the rate in the first quarter 2020 (65.3 percent). https://www.census.gov/housing/hvs/files/currenthvspress.pdf

Analysis Mortgage Market Can Withstand Forbearance Programs Fitch Ratings latest report shows the country's mortgage market is well positioned to withstand forbearance programs now, but that a second wave of COVID-19 could bring instability. By Robert Storace | July 29, 2020 at 06:21 AM... As COVID-19 continues to cause havoc across many sectors, Fitch Ratings says the country’s mortgage market is well positioned to withstand forbearance programs. Another wave of the coronavirus in the fall, though, could change things, it said. Johann Juan, senior director of non-bank financial institutions for Fitch, told GlobeSt.com that the takeaway is that borrowers are less likely to walk away from their homes because they have more skin in the game. Statistics show that less than 10% of borrowers are under water on their mortgages. And, forbearance programslike the federal CARES Act, or the Coronavirus Aid Relief and Economic Security Actare allowing mortgage borrowers to spend their money elsewhere. Many are doing so wisely, said Michael Shepherd, director of banks for Fitch. Not paying their mortgage payments gives people liquidity to do other things like pay their bills and their credit cards, Shepherd told GlobeSt.com. So far, the performance of credit cards and auto loans have been pretty good. According to the Fitch report, Forbearance programs allowing borrowers to temporarily suspend monthly mortgage payments are not expected to be a long-term credit negative for the mortgage industry. Brian Knudsen, associate director of non-bank financial institutions for Fitch, said that In terms of forbearance we have seen the number of loans from programs taper off a bit. But, because of COVID, there are still many customers out there seeking relief on mortgage payments A second wave of COVID in the fall or later, experts said, could cause issues for borrowers. A second wave would, potentially put more stress on borrowers who may not then be able to pay their mortgages, Juan said. Therefore, it will all depend on what the government offers to help those in need. Juan continued: A second wave could place a strain on mortgage service liquidity down the road and that is certainly something we would be looking at.’ The Fitch report quoted data several times from Black Knight, Inc., which provides data and analysis to the real estate industries. The latest statistics available from Black Knight, according to Fitch, is from July 14. On that date, the report said. the number of mortgage loans in active forbearance had fallen for three consecutive weeks to 4.1 million, or 7.8% of all active mortgages and approximately $900 billion in unpaid principal balances. Robert Storace covers legal trends, lawsuits and analysis for the Connecticut Law Tribune. https://www.globest.com//mortgage-market-can-withstand-fo/

San Juan Capistrano mansion, scene of Sachs double-murder, sells for $3.8 million At the center of this photograph is a satellite view of the San Juan Capistrano mansion that recently sold for $3.75 million. The home has twice changed hands after becoming the scene of a double-murder. In February 2014, Ashton Sachs shot and killed his parents as they slept and left his younger brother paralyzed. (Image courtesy of Google Earth) By SANDRA BARRERA | [email protected] | Los Ange...les Daily News PUBLISHED: July 21, 2020 at 12:54 p.m. | UPDATED: July 23, 2020 at 11:04 a.m. After being on and off the market for the last four years, an infamous San Juan Capistrano mansion has found a buyer for $3.75 million, down just over 34% from the initial asking price. In June 2016, the home had listed at $5.695 million. It dropped that July to $4.995 million and continued to fall. By May 2020, it was listed at $3.999 million. The house has changed ownership twice after Ashton Sachs shot and killed his parents and left his then 8-year-old brother paralyzed as they slept one night in February 2014. Sachs, one of five children in a tight-knit family, also attempted to shoot his then 17-year-old sister. He is now serving life in prison for the attack at his family’s family’s former home. Perched on a hill in the Peppertree Bend community, the house was built in 1982 and extensively renovated by previous owner SB Spring LLC. The investor paid $2.995 million for it in November 2015, property records show. The 9,200-square-foot residence unfolds across a terraced 1-acre slope. It has six bedrooms, seven bathrooms and loads of entertaining space think a formal dining room, home theater and wet bar. In the kitchen, all-white cabinets and countertops, commercial-grade appliances and a center island with seating outfit the area. Nearby is a breakfast nook. The house has a temperature-controlled wine cellar, gym, sauna and steam room. True to modernism design, the listing reads, the site consists of varying cubist structures comprised of steel and glass bringing in an abundance of light and offering an indoor/outdoor experience. Skylights and oversized windows fill the main house with natural light and frame views of the mountains and the Pacific Ocean. Outside features include a swimming pool, spa, waterfalls, patios and a poolhouse with office space. Sean Stanfield of Pacific Sotheby’s International Realty handled both sides of the deal but declined to comment on the sale. Seth Nelson of Pacific Sotheby’s International Realty co-listed the property. https://www.ocregister.com//san-juan-capistrano-mansion-s/

BUSINESSHOUSINGOpinion Columnist Did coronavirus widen Southern California’s homeownership divide? California ownership rate is at highest since 2010 The coronavirus pandemic may have ballooned Southern California homeownership’s geographic divide to a level not seen in 16 or more years. New Census Bureau stats on who owns the home they live in shows ownership at a 12-year high in the Inland Empire while still running at a national low in Los Angeles and Orange counties....Continue reading

BUSINESSHOUSINGNews LA County housing mystery: All-time high prices with record low sales? 5,063 homes sold, existing and new down 24% in a year. Los Angeles County homebuyers last month bought the fewest homes for any June on record but still paid an all-time high price....Continue reading

Crazy time in real estate world. We are in the middle of Coronavirus pandemic and these happened? In January, I had 1 listing and 1 offer in Escrow. In February, I had 2 listings and one offer in Escrow. Then the Pandemic hit and all Escrows cancelled! Also in the last 2 weeks. 1) Agent texted my seller to ask if she wants to put the house on the market for sale! DUH! The home is for sale and on the MLS.... 2) Drive by potential buyers (lookie loos?) stopped at the listing (I have the sign in the front). Potential buyers asked sellers if they can preview the home. My sellers let them look at the home, inside and out!! CRAZY!! No worries, I survived them and am doing absolutely fine for now!! See more

Modern Design shared from Instagram d.signers What’s the first thing that caught your eyes? Comment below Tag an Architecture Lover! #d_signers ___ Residence design and visualized by @elmntos_arq ... __ #architect #staircase #wood #stair #interior #3d #design #architecture #design #interiordesign #interiordesigner #home #house #wood #white #black #furniture #bedroom #kitchen #livingroom #light #lighting #designer #architect #realestate #outdoors #housedesign #homedecor #homedesign See more

15 SoCal real estate twists: raunchy texts, coronavirus, 2.98% mortgages Census data shows only 82% of SoCal tenants are making full rent payments Here are 15 must-read stories about the local real estate market from the Southern California News Group’s Home Stretch newsletter. To subscribe to the free, twice-weekly email publication, just CLICK HERE!... 1. Mortgage broker group’s CEO is sued over raunchy text messages. Wife of lending competitor targeted with ‘misogynistic’ messages. 2. Have local home prices gotten too high? One study says virus-linked economic weakness means homes in LA-OC, and across California, are 5%-to-9% overvalued. 3. Homebuyers: You don’t have to be present for a closing. Leslie Eskildsen’s thoughts on house selling. 4. How to reopen HOA amenities (the pool) in the coronavirus world. Kelly Richardson’s thoughts on homeowner’s associations. 5. 720 mortgage companies took pandemic relief money. The booming industry claimed in needed to save jobs. 6. $2 million pledged to promote equity for SoCal housing and jobs. Grants come as local government group declares racism a public health crisis. 7. Pandemic’s spread forces businesses to close again. Gov. Newsom’s reopening U-turn a needed but devasting blow to the economy. 8. 2.98% for 30-year loans. Rates fall below 3% for first time in at least a half century. 9. Colton: Environmental review started for 350 new houses. 10. Renters struggle to write the monthly check to the landlord. Census data shows only 82% of SoCal tenants are making full rent payments. 11. How will August bills get paid? America’s jobless are about to lose their weekly $600 unemployment lifeline. 12. My dad died. What loss can teach us about real estate. Allen Buchanan’s thoughts on commercial real estate. 13. US banks set aside billions as protection against future losses. Actions suggest bankers see forsee more economic pain. 14. Whittier: 5,962-square-foot with a 6,415-square-foot garage OK’d. 15. Yucaipa: 144 homes proposed for city maintenance yard. The Trust Project Logo Let's talk business. Catch up on the business news closest to you with our daily newsletter. https://www.ocregister.com//15-socal-real-estate-twists-r/

I earned the NAR's e-PRObadge! Actually I earned it in 2008.

Sell, Rent, or Transfer: Options for Seniors in the Midst of Downsizing There are many circumstances in which moving into a smaller home makes more sense than continuing to live in a property that becomes burdensome. Many seniors find themselves in such a predicament due to physical ailments associated with aging. Despite a desire to continue aging in place, older individuals may need to downsize in order to find something more manageable and affordable. One major decision ...Continue reading

Southern California pending home sales rise for 10th straight week Total inventory at 28,385 down 28% in a year. STAFF LISTING...Continue reading

Saw This Today! What Should You Call A Master Bedroom? Language has always changed and evolved over time for a variety of reasons. Sometimes it's the pronunciation of words, other times it's the meaning of the word, and sometimes historical meanings become politically incorrect. In the case of real estate words, the term "master bedroom" has become a topic of debate, with certain real estate associations like the Houston Association of Realtors (HAR) choosing to remove the t...erm from their listing and marketing materials. With society demanding respect and equality for all, it prompts the question: Should you follow the trend, and if so, what do you call a master bedroom?What is a master bedroom? The term master bedroom was first used to describe the largest bedroom with attached bathroom of an expensive home in the 1926 Sears catalog, and since that time, it has been generally accepted to identify the largest bedroom in a home or apartment. It typically, but not always, will also include an attached bathroom and a large closet. Master bedrooms can be luxurious and suite-like, but more often, the term simply refers to the bedroom that has the greatest square footage. In most cases, the owner or elders in a home will use this bedroom while the smaller rooms are more often used for children or as office space.Why should the term master bedroom be changed? The term can imply that there is a master who oversees the household, typically a male, and from a historical perspective, as a master of slaves. This can potentially have gender and racial implications where there is a perceived exclusion of females or minorities. The term has slowly been falling to the wayside, but there has been a lot of political activity of late that would support shifting the term master bedroom to something more politically correct. What should it be changed to? Homebuilders, homeowners, and Realtors looking to be more inclusive when renting, selling, or showing a home are starting to use terms like owner's suite, owner's bedroom, and even main bedroom. This change has been slowly happening for years but without much consistency among companies and organizations. So far the Houston Association of Realtors is the only entity to make an official change to the term, replacing "master bedroom" in their listing databases with "primary bedroom" on June 15, 2020. Words are part of culture, and they reflect what society views as fitting. Times are changing, and with them, words are, too. While there is no mandate requiring the change in term, it may be something your organization or you personally want to consider and is likely a shift we'll continue to see being made as time goes on. Provided by Millionacres Liz Brumer-Smith 16 hrs ago https://www.msn.com//what-should-you-call-a-m/ar-BB166f2L

HOME IMPROVEMENT Tarek El Moussa’s Top 9 Upgrades That Will Add Major Value to a House By Jillian Pretzel | Jun 23, 2020...Continue reading

Sales of new homes posted a surprisingly strong jump in May MARTIN CRUTSINGER 4 hrs ago Sales of new homes posted a surprisingly strong jump in May... Sales of new homes rose a surprisingly strong 16.6% in May with the reopening of major parts of the country potentially fueling activity in the housing market. The Commerce Department reported Tuesday that sales of new single-family homes rose to a seasonally adjusted annual rate of 676,000 last month. That was a much better performance than expected. Many economists had forecast that sales would fall in May. The new home sales numbers come just one day after the U.S. reported a 9.7% plunge in May sales of existing homes to an annual rate of 3.91 million, the slowest pace in nearly a decade. There are hopes that the housing slump that occurred with the virus shutdowns could be coming to an end, though the millions of jobs lost to the pandemic could impede any rebound. Nancy Vanden Houten, lead U.S. economist with Oxford Economics, said she expected a modest recovery in sales in coming months following the big declines in the first quarter but she still expects a decline overall this year. The slow recovery in the labor market will limit the upside of any rebound in the housing market, she said. The median price of a new home rose 4.9% to $317,900 in May after falling by 8.7% in April, a drop that was attributed to heavy discounting by builders in the midst of the coronavirus shutdowns. The big sales rebound left activity in May 12.7% higher than a year ago. https://www.msn.com//sales-of-new-homes-poste/ar-BB15Sp7Q

10% more Southern California homes in escrow, 7th consecutive sales gain Local buying pace is 3.1% below a year ago Southern California homebuying rose for the seventh straight week as house hunters put 10.3% more homes into escrow. Still, it’s a buying pace 3.1% below a year ago....Continue reading

WELCOME to SO-CAL, Yes or No? Wealthy havens lure homebuyers in 'mad rush' from San Francisco Sophie Alexander 21 hrs ago...Continue reading

Wealthy buyers reportedly in 'mad rush' to leave San Francisco Andrew Chamings 1 hr ago Wealthy buyers reportedly in 'mad rush' to leave San Francisco... Amid the depths of a global pandemic and financial downturn, the demand for real estate is unexpectedly rocketing in wealthy regions outside San Francisco, reports Bloomberg. Agents say that demand is soaring in affluent areas around the Bay Area such as Napa, Marin and further afield in Carmel, as people who have the means look to get away from the city. Meanwhile, the market in San Francisco and Alameda County is still well below where it was last year. The demand for real estate is unexpectedly rocketing in the wealthy regions outside of San Francisco. Elsewhere, Lake Tahoe has also seen a surge in real estate interest. The prospect of living out of the city on an alpine lake while maintaining a career is appealing for a new generation of young buyers, as many tech companies have signaled that remote work may be the new norm for a long time. I’ve never seen the demand higher for Marin County real estate than when COVID-19 hit, Sotheby's Josh Burns told Bloomberg this week, as real estate agents see a surprising uptick in wealthy buyers leaving San Francisco. Agent Katrina Kehl of Compass warned her sellers not to expect much interest in their recent Mill Valley listing, as the country moves through an economic crisis. To their surprise, the couple received 13 bids and the home went over the $1.7 million asking price by "a lot," Kehl told Bloomberg. Sotheby’s agent Ginger Martin added that there’s a mad rush to get out of the city. Meanwhile, the rental market in San Francisco has dropped significantly, with rates for one-bedroom apartments in the city dropping by 9.2% since June 2019, and hitting a three-year low.However, buying a new home in an isolated haven in a nearby bucolic county is not an option for lower-income San Francisco residents, and some believe the trend is only exacerbating the wealth divide. This is an example of another way the most advantaged, the most affluent have isolated themselves from this latest crisis, Patrick Sharkey, a sociology professor at Princeton University who focuses on urban inequality, told Bloomberg. It’s a very small segment of the population that has another home that they can go take off to.Whether this change in demand away from San Francisco and into the suburbs is a short-lived reaction to the pandemic, or a more permanent change, remains to be seen. For the full Bloomberg story, read more here. Andrew Chamings is a digital editor at SFGATE. Email: [email protected] | Twitter: @AndrewChamings https://www.msn.com//wealthy-buyers-reportedl/ar-BB15cBre

Remember the Short Sale and REO's days? An Estate sold for $1,380,000 in December 31, 2009, became a $995,000 listing in October 2013 and sold for $1,050,000 in December 2013. ESTIMATE Value today $1,533,300 !

Coronavirus rebound: SoCal housing jumps up from ‘worst’ April Sharp bounce leaves local homebuying close to 2019's pace The region’s housing markets are rebounding off what arguably was the worst April in the history books....Continue reading