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How’s The Market

Thumbnail image for FHA mortgage premium to rise on April 1 – San Luis Obispo Real Estate

FHA mortgage premium to rise on April 1 – San Luis Obispo Real Estate

by Marsha Willingham February 14, 2013 Buyers Information

 

It may be prudent to purchase now!

Borrowers who want to get a mortgage insured by the Federal Housing Administration should act quickly to avoid changes the agency is making to shore up its faltering insurance fund.

Here’s the timing: FHA will raise the annual mortgage insurance premium on most loans that have a case number starting April 1 or later. To …

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Thumbnail image for The Year Everyone Was Wrong (Again) About Home Prices – San Luis Obispo Real Estate

The Year Everyone Was Wrong (Again) About Home Prices – San Luis Obispo Real Estate

by Marsha Willingham January 28, 2013 About

Multiple offers abound in the San Luis Obispo area.  Perhaps it is time to make the move!

 

For several years, economists and housing analysts have predicted a housing bottom, but few forecasts at the beginning of 2012 foresaw the magnitude of the rebound that the housing sector enjoyed last year. Quarterly surveys by real-estate website Zillow Inc. Z +3.04% and Pulsenomics LLC poll …

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Seven-month trend of rising median price and sales – San Luis Obispo Real Estate

by Marsha Willingham December 28, 2012 Buyers Information

 

Home prices and sales in San Luis Obispo County grew year over year this November—continuing what is now a seven-month trend of rising home values.

Last month, the median price for all homes in the county grew 4.4 percent from the same month in 2011, rising to $370,500, according to figures released by real-estate tracker DataQuick. …

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Thumbnail image for ‘Shadow’ Overhyped as Housing Threat – San Luis Obispo Real Estate

‘Shadow’ Overhyped as Housing Threat – San Luis Obispo Real Estate

by Marsha Willingham December 26, 2012 Buyers Information

 

 

-Housing’s Shadow:

Wall Street Journal reporter Nick Timiraos explains why the 3.4 million properties in the U.S. headed toward foreclosure–the so-called “shadow” inventory–won’t snuff out this year’s nascent housing-market recovery. For starters, the size of this shadow has shrunk from a peak of 4.7 million in 2009. Inventories of new and previously-owned homes are unusually low. Demand for homes has …

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Housing Market Rebound – San Luis Obispo Real Estate

by Marsha Willingham December 18, 2012 Buyers Information

 

CNN MONEY    

 

In another sign of a housing market rebound, home prices posted the biggest percentage gain in more than two years in the third quarter, according to the closely followed S&P/Case-Shiller index.
The 3.6% increase from a year earlier is more than three times the rise in the previous quarter and was the biggest jump …

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Thumbnail image for Housing Market Uptrend Expected Through 2014 – San Luis Obispo Real Estate

Housing Market Uptrend Expected Through 2014 – San Luis Obispo Real Estate

by Marsha Willingham November 13, 2012 Buyers Information

 

ORLANDO (November 9, 2012) – The housing market recovery should continue through the coming years, assuming there are no further limitations on the availability of mortgage credit or a “fiscal cliff,” according to forecast presentations at a residential forum here at the 2012 Realtors®Conference and Expo.

Lawrence Yun , chief economist of the National Association of Realtors®, …

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Thumbnail image for Housing Passes a Milestone – San Luis Obispo Real Estate

Housing Passes a Milestone – San Luis Obispo Real Estate

by Marsha Willingham July 16, 2012 How's The Market

The housing market has turned—at last.  San Luis Obispo’s inventory is dramatically low.

The U.S. finally has moved beyond attention-grabbing predictions from housing “experts” that housing is bottoming. The numbers are now convincing.

Nearly seven years after the housing bubble burst, most indexes of house prices are bending up. “We finally saw some rising home prices,” S&P’s …

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MORTGAGE TIPS AND TRENDS – San Luis Obispo Real Estate

by Marsha Willingham June 20, 2012 Buyers Information

Greetings!  The bias for right now is short-term locking, and longer term floating.  That means that if you have a client who can wait 4 or more weeks to close, then it may be more beneficial to wait and lock in their interest rate at a later time.  But, for those that need to close in …

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Americans Sees Biggest Home Equity Jump In 60 Years: Mortgages – San Luis Obispo Homes for Sale

by Marsha Willingham June 18, 2012 Buyers Information

And finally some possible good news?   San Luis Obispo Real Estate

 

Americans are digging themselves out of mortgage debt.

Home equity in the first quarter rose to $6.7 trillion, the highest level since 2008, as homeowners taking advantage of record-low borrowing costs to refinance their loans brought cash to the table to pay down principal. The 7.3 …

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Shortage of homes for sale creates fierce competition – San Luis Obispo Real Estate

by Marsha Willingham June 18, 2012 Buyers Information

San Luis Obispo inventory is experiencing the same situations as the areas noted below.

The newest problem for the slowly improving housing market isn’t a shortage of serious buyers, it’s a shortage of good homes.  Would-be buyers are packing open houses and scrambling to make offers on properties before they are even listed. Bidding wars are …

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