Why Buyers May Lose If They Don’t Act Now

Rising mortgage rates could have a big impact on the direction your buyers choose when shopping for real estate, economists warn. “Every time the interest rates go up, you eliminate a group of people who can no longer afford to buy a house,” Don Frommeyer, a mortgage broker at Marine Bank in Indianapolis, told realtor.com®. “Some […]

Home Depot to donate $50M to train construction workers, address severe shortage

Home Depot announced Thursday that it will donate $50 million to train 20,000 people as construction workers over the next decade, helping efforts to ease a dire shortage that’s curtailing home building and driving up house prices. The Home Builders Institute, the industry’s education arm, will use the money from the Home Depot Foundation to […]

House flipping hits decade high, but returns are shrinking

More and more people are flipping houses — the most in 10 years – but they are reaping smaller rewards. High home prices, hot competition and very, very few available homes to buy are combining to make this popular trade ever more risky. Just more than 207,000 homes were flipped in 2017, according to a […]

Home For Sale Near Big Springs Elementary

Are you looking for a home for sale near the top rated Big Springs Elementary School or Valley View Jr. High in Simi Valley?  Well, I have the home for you!  Fully remodeled including a newer roof, newer heat and AC and a newly re-plastered and re-tiled pool!  Walking distance to both Big Springs Elementary […]

Mortgage Rates Just Got Higher Again

For the eighth consecutive week, borrowing costs were on the rise. “Optimistic testimony on Capitol Hill from Federal Reserve Chairman Jerome Powell sent Treasury yields higher as Powell stated his outlook for the economy has strengthened since December,” says Len Kiefer, Freddie Mac’s deputy chief economist. “Following Treasurys, the 30-year fixed mortgage rate jumped 3 […]

More Buyers Are Bidding Up Prices

Tight inventories mixed with high demand are pressing prices higher in many markets. As such, a growing number of real estate pros say that their home sellers are seeing their properties sell beyond the asking price. Thirty-four percent of properties that closed in January sold at or above the list price, according to the January […]

Cramer: Don’t be fooled—retail REITs’ stocks are still very risky to own

On a rough day for the stock market in which the Dow Jones industrial average plunged nearly 600 points, CNBC’s Jim Cramer noticed one stock group trading surprisingly well: retail-focused REITs, or real estate investment trusts. Retail REITs became some of 2017’s worst-performing equities as the underlying companies fell under pressure amid waves of store […]

Why Not To Convert The Garage When Remodeling Your Home

One of the biggest reasons that people buy homes instead of continuing to rent is to have more space. But the cost of buying with little money down or to move up to a better neighborhood could mean a compromise on space. Many older homes, particularly those built before the 1990s, average less square footage […]

ARM rates spike as anticipated

The average adjustable rate mortgage (ARM) rate increased sharply to an average rate of 3.79% in January 2018, up from 3.32% a year earlier. This bump in ARM rates is a direct result of the Federal Reserve’s (the Fed’s) increase in short-term rates. Similarly, the 30-year fixed rate mortgage (FRM) rate rose in January 2018 to an […]

IRS: HELOCs Still Deductible for Renovations

Taxpayers can continue to deduct the interest they pay on home equity loans when the funds are used for home improvements, the IRS confirmed in a statement on Wednesday. The status of home equity deductions has been in question following the limits on the mortgage interest deduction included in recent tax reform legislation. The IRS […]

Buyers Use Escalation Clauses to Win Bidding Wars

Home buyers locked in heated bidding wars are increasingly turning to escalation clauses to keep their offers in play, The Wall Street Journal reports. Escalation clauses are addendums to real estate contracts in which a prospective buyer is able to submit an offer but then raise his or her offer in increments to a maximum […]

Simi Valley Open House – 3444 Austin – Texas Tract Sunday 2/25 1-4

Come see this fully remodeled home in Simi Valley’s “Texas Tract”. 3444 Austin boasts a fully remodeled home, high end appliances, a re-plastered and re-tiled pool, paved RV parking, a large back yard and SO MUCH MORE! Come see it this Sunday from 1-4!

More Markets Hitting Record-High Home Prices

It’s a good time to be a homeowner: Nearly two-thirds of housing markets across the country saw home prices at all-time highs in the fourth quarter of 2017, the National Association of REALTORS® reported Tuesday. By Region Here’s a closer look at how existing-home sales fared in the fourth quarter of 2017: Northeast: Existing-home sales […]

NAR Amps Up Efforts to Ensure Implementation of RESO Standards

The National Association of REALTORS® (NAR) has amped up its efforts to ensure REALTOR® association-owned MLSs implement RESO standards. NAR acted after an analysis determined there were many MLSs non-compliant with the standards. Adoption is a policy requirement. Approximately 90 MLSs were notified and given 60 days (from the date of the letter) to respond—roughly […]

Mortgage Rates at Highest in More Than a Year

The average 30-year, fixed mortgage rate is at its highest in more than a year: 4.32 percent, according to Freddie Mac’s recently released Primary Mortgage Market Survey® (PMMS®). Last week, it averaged 4.22 percent. “The U.S. weekly average 30-year fixed mortgage rate rocketed up 10 basis points to 4.32 percent this week,” says Len Kiefer, […]

How to Apply for Section 8 Housing: A Guide for Renters Who Need Help Paying Rent

  Joshua Lott for the Washington Post via Getty images   Wondering how to apply for Section 8 housing? This federal housing program helps more than 2 million low-income families, disabled Americans, and the elderly cover the cost of their rent every year. Overseen by the U.S. Department of Housing and Urban Development, it’s the nation’s largest rental assistance program. […]

Texas Tract Homes for sale in Simi Valley – 3444 Austin

3444 Austin in Simi Valley “Texas Tract”     Move right in to this inviting Texas Tract POOL home that has it all!! It’s been totally remodeled and customized with an OPEN CONCEPT floorplan and too many upgrades to list! It’s light and bright, 1,612sf, with 3 large bedrooms and 2.5 remodeled bathrooms, and features […]

‘I Need to Report a Stolen House’

Homeowners in Madisonville, Texas, who reported the theft of their home to police on Friday got some good news: The structure has been located. But it’s too soon for them to relax yet. On Friday, Jo and Lonnie Harrison, a couple from Houston reported the missing house to police after they went to their vacation […]

Could the Inventory Crunch Worsen?

Housing permits, a gauge of new-home activity, slipped in the final quarter of 2017, which could worsen a housing shortage already shaking many markets across the country. Single-family permits are running at only 56 percent of normal activity, according to the National Association of Home Builders/First American Leading Markets Index. “We are concerned with the […]