Kallen Realty

Craigslist Scams on The Rise: What You Should Know and How to Avoid Them Landlords, property managers, owners and sellers should be aware of a recent spike in rental property scams, especially on Craigslist, that are affecting rental units including vacant units across California and the United States. Homes that are listed for sale, rent, or that are vacant are finding their way onto sites such as Craigslist thanks to criminals who are utilizing marketing materials to rent...Continue reading

Source: CNBC Rebounding from nearly the lowest level in its history in April, the share of consumers who think it’s a good time to buy a home increased from 52% in May to 61% in June, according to a Fannie Mae survey measuring consumer sentiment in the housing market. The improvement was driven primarily by renters. Conversely, fewer Americans said it was a bad time to buy. The share of renters who say it’s a good time to buy a home is now at its highest level in five years, ...suggesting favorable conditions for first-time homebuying, consistent with the recent rebound in home purchase activity. Current homeowners are also getting slightly more optimistic about the sales market, especially given the lack of housing supply. The percentage of respondents saying now is a good time to sell a home increased from 32% to 41%, although nearly half still think it’s a bad time to sell.

Closed in less than 3 weeks. Congratulations Rob and Dana Kwock Stinman !

Market update; Mortgage rates continue to hover at record lows, and the FHFA reports April home values up 5.5% over last year. Low rates and strong prices create opportunities for homebuyers and owners. The International Monetary Fund now expects the U.S. economy to contract by 8% this year, more than the 5% they forecast in April. Negative growth can keep rates low. Initial jobless claims were 1.48 million last week, lower than the previous week but above expectations. Conti...nuing claims declined more than expected to 19.5 million. The NAR expects home sales to climb as in-person showings return. With the nationwide lockdown, May's existing home sales fell 9.7% from April and 26% annually. Sales of newly built homes jumped far more than expected in May, up nearly 13% annually. After slowing dramatically in March, they posted the strongest May pace since 2007. However, May's single-family housing starts were nearly 18% lower annually, and building permits, an indicator of future construction, were down about 10%. Stay safe out there!

Busy Weekend. In the first 3 days on the Market : 30 showings, 10 Offers , Opened Escrow this Morning with an offer over asking price.

Our Latest Listing

https://matrix.crmls.org///5yBWqW8sX8Gd/13751LinnertStreet Our Latest Listing. Already in escrow.

Housing inventory recently hit a 2-yr low, falling by 12% year-over-year in December. The median home list price was $299,950 (nationwide). Freddie Mac has announced a new online homebuyer course, called CreditSmart Homebuyer U. Completing the course satisfies Freddie Mac’s homeownership education requirements. Statistics show that new home sales are stronger in growing cities. A recent study by CoreLogic shows states with the largest population growth have the most sales.

For those of you working over the holidays like me .. here is the latest market update. New home sales rebounded in November, suggesting low mortgage rates continued to support the housing market. Sales activity in the prior month was weaker than reported. According to the credit reporting agency Experian, the average American credit score surged to an 8-year high of 682 in 2019, hitting its highest level since 2011. Housing affordability fell slightly in October compared to... September, but affordability conditions improved year-over-year. The overall median sales price was $273,600 throughout the country. Happy New Year! Wishing you health, wealth, happiness and love in 2020

Closed yesterday. Congratulations to Ken and Alysia. Who’s next ?

Here are the top 5 financial benefits of homeownership: Homeownership is a form of forced savings. Homeownership provides tax savings. Homeownership allows you to lock in your monthly housing cost. Buying a home is less expensive than renting.... No other investment lets you live inside of it. See more

Retail sales declined unexpectedly in September, the first time in 7 months. The report could signal the economy is softening, possibly helping keep rates low. A Phase I trade deal with China was agreed upon, though not yet signed. A finalized deal would eliminate some of the economic uncertainty that has contributed to lower rates. Jobless claims rose marginally last week, suggesting the labor market remains strong despite an overall slowdown in hiring and prospects of a wea...ker economy. Home builder confidence surged to the highest level in nearly 2 years in October, attributed mainly to lower mortgage rates bringing in buyers and boosting sales. Although housing starts fell 9% in Sept., a surge in permits suggests the decline is just a brief pause. Single-family construction rose for the 4th straight month. The housing market was the bright spot in the Fed’s monthly economic snapshot. The Fed also noted that tight inventory is placing a strain on home sales.

Greetings A recent string of disappointing economic data has caused stocks to plummet and bond yields to drop. When yields drop, mortgage rates generally improve. The labor market, on track to add about 1.9 million jobs this year, could be faltering. It’s the smallest jobs gain since 2010 and down 2.7 million from 2018. Markets are now pricing in an October Fed policy rate cut, the 3rd in as many months. This speculation is helping mortgage rates improve. The housing mark...et may be a bright spot in a worrisome economy. The forecast for home sales is good due to rising demand and a projected uptick in inventory. Single-level homes are making a comeback. One-story homes comprised 47% of new home construction in 2018, up from 45% in 2017. Fannie Mae and Freddie Mac will be allowed to keep more earnings, a total of $45 billion moving forward, as an initial step toward exiting government control. See more