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One of the reasons that explain why housing prices in California soar, and also why very few people can afford to buy them, is that the construction of new homes does not reach the speed of the housing demand. In 1986, California was ranked #7 in housing permits per-capita. In 2018, California was ranked #37. Read more about Homeowners enjoy a protected housing market[…]
L.A. City Planning Department (DCP) released its full draft Downtown Community Plan, called DTLA 2040. Once approved, the plan would eliminate parking requirements for all of downtown Los Angeles. Under the proposed Plan, 60% of Downtown — compared to 33% today — would be eligible for residential uses. By the year 2040, Downtown will include Read more about Downtown Los Angeles 2040 Plans[…]
The first-time homebuyers need all information available to obtain assistance programs for the downpayment and the purchase of their dream home. Here is a summary of the main programs. If you need more information on any of the program, do not hesitate to call us at (323) 942-9347 • FHA loan program: A loan insured Read more about First Time Home Buyer Programs[…]
It is possible to find properties for sale under $300,000 in Los Angeles County. However, they have some peculiar characteristics and are not for everyone. These properties have certain peculiarities and are preferred by individuals or families willing to make certain sacrifices or by investors with sufficient resources to repair and rebuild the property. If Read more about Homes for less than $300K in Los Angeles County[…]
The Federal Housing Administration FHA introduces the Single-Unit Approval process for Condominiums, this time, even if the condominium project is not FHA approved. The new FHA Loans for Condos become effective October 15, 2019 In the past, units in condominium projects were allowed to get an FHA Insurance, only if the whole condo project was Read more about New FHA Loans for Condos[…]
The Mortgage Banker Association said recently that the Market Composite Index, a measure of mortgage loan application volume, decreased 3.1 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 4 percent compared with the previous week. We can identify three clear trends in the last three years: Read more about Mortgage Rates down again..![…]
If you are tired of the last rent increase, and now you are thinking about moving to another neighborhood, zip code, or city, here is an interactive dynamic map that shows the Affordable Rental Areas in California. This dynamic map was prepared by the LA Times team: Ryan Murphy and Priya Krishnakumar. With this tool, Read more about Here are the Affordable Rental Areas in California..![…]
The National Association of REALTORS issued their Housing Minute Report for July 2019. Pending home sales fell 2.5% in July, with each of the four major regions of the country seeing a decline in contract activity. The main key facts are: • Properties were typically on the market for 29 days (27 days in July Read more about July 2019 showed a decline in Real Estate contract activity[…]
August 1st brought 10yr Treasury yields to the lowest levels since November 2016. The bond market movement was big and unexpected. The mortgage rates are lower. The word RECESSION feels stronger today than yesterday. Investors feel safer to invest in Treasury Bonds. Today, news about more trade tariffs and de-globalization push back the confidence on Read more about Homebuyers taking advantage of the lower Mortgage Rates..![…]
It’s clear that not many new home buyers have enough savings for a down payment loan. When homebuyer’s savings are null, homebuyers are receiving family money to help with their down payments. Gift funds are helping the younger couples to have the amount of cash liquid to own a home. KPCC-Southern California Public Radio in Read more about Homebuyer’s Savings are Key for a new home[…]