August 2014

Found 13 blog entries for August 2014.

Home flipping, in which a buyer resells a property quickly for a profit, is on the decline as U.S. residential price gains slow and foreclosures dwindle.

Almost 31,000 single-family houses were flipped in the second quarter, representing 4.6 percent of U.S. home sales, RealtyTrac said in a report today. That’s down from 6.2 percent a year earlier and the smallest share since the first three months of 2012, when prices bottomed after the crash, according to the Irvine, California-based data company, which defines a flip as a property sold within 12 months of purchase.

Real estate investors are making smaller profits and finding fewer opportunities for deals after a two-year surge in property values that’s now slowing. The median existing-home price

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The following is a real-time real estate market report for Yorba Linda California.

We specialize in helping clients buy and see homes in North Orange County.  If you are a homeowner looking for information on Brea homes for sale, Fullerton homes for sale, Placentia homes for sale, Yorba Linda homes for sale, Anaheim Hills homes for sale, Orange homes for sale, La Habra homes for sale, or Anaheim homes for sale; please call us today.

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The following is a real-time real estate market report for the city of Placentia California.

We specialize in helping clients buy and see homes in North Orange County.  If you are a homeowner looking for information on Brea homes for sale, Fullerton homes for sale, placentia homes for sale, Yorba Linda homes for sale, Anaheim Hills homes for sale, Orange homes for sale, La Habra homes for sale, or Anaheim homes for sale; please call us today.

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The following is real-time real estate maket report for the city of Fullerton California.

We specialize in helping clients buy and see homes in North Orange County.  If you are a homeowner looking for information on Brea homes for sale, Fullerton homes for sale, placentia homes for sale, Yorba Linda homes for sale, Anaheim Hills homes for sale, Orange homes for sale, La Habra homes for sale, or Anaheim homes for sale; please call us today at 714-673-7363

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The following is a real-time real estate market upddate for the city of Brea, California

We specialize in helping clients buy and see homes in North Orange County.  If you are a homeowner looking for information on Brea homes for sale, Fullerton homes for sale, Placentia homes for sale, Yorba Linda homes for sale, Anaheim Hills homes for sale, Orange homes for sale, La Habra homes for sale, or Anaheim homes for sale; please call us today.

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  • Lower interest rates in the second quarter of 2014 failed to offset continued home price increases, lowering housing affordability statewide and in 19 of 26 counties in California, according to the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
  • The percentage of home buyers who could afford to purchase a median-priced, existing single-family home in California fell from 33 percent in the first quarter of 2014 to 30 percent in second-quarter 2014 and was down from 36 percent in second-quarter 2013, according to C.A.R.’s Traditional Housing Affordability Index (HAI).
  • Home buyers needed to earn a minimum annual income of $93,590 to qualify for the purchase of a $457,140 statewide median-priced, existing single-family home in the second
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You have done the hard part in the homebuying process and chosen a lender and a real estate agent to work with. You have also gone out and found the home of your dreams! Best of all, your team has done a great job of negotiating the best deal for you.

Now, as a buyer, all you have to do is sit back and wait for your loan to close … right? Wrong!!

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Getting a home loan these days is a very interactive process. I am always amazed by how many clients I work with who come to me unaware of all the pitfalls they face during the loan process. To help avoid any surprises while waiting for final approval, I provide my clients with a short list of “do’s and don’ts” to follow.

Let’s start with the “do’s” …

  1. Do keep the process moving by
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The number of homes that sold for $1 million or more in California hit a seven-year high in the second quarter, and sales north of $2 million reached a new record.

That’s according to new figures from San Diego-based DataQuick, which tracks local housing markets in the state. They found million-dollar-plus sales grew at a 9.1% clip statewide compared with last year, while sales overall fell 7.4%.

Several factors are driving the high-end liftoff, market-watchers.

 

One is the hot technology sector in the Bay Area and some affluent parts of Southern California, which is minting new millionaires who can afford seven-figure homes. Another is the 11.6% price growth in California over the last year, which means a house worth $925,000

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Housing affordability dipped slightly in the second quarter of 2014 as several markets saw a firming of home prices, according to the NAHB/Wells Fargo Housing Opportunity Index (HOI). Nationwide, the second quarter HOI was 62.6—i.e., 62.6 percent of new and existing homes sold during the quarter were affordable to a family earning the U.S. median income of $63,900—down about three percentage points from the first quarter reading of 65.5.

The latest readings reflect a slow but steady march toward historically normal appreciation and interest rates, producing an HOI typical of the period before the mid-2000s boom. In the second quarter of 2014, the average mortgage interest rate declined to 4.44 percent (from 4.57 in the first quarter), while the national…
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