Monday, September 1, 2014

Market Matters

A city's 'walkability' drives real estate values
Source: CNBC


A new report from Smart Growth America ranks the walkability of the nation's 30 largest metropolitan areas, and there is a distinct correlation between walkability and real estate values. The author of the report, Chris Leinberger, commented, “Walkable, urban for-sale housing is by far the most expensive housing in the country. The range, depends on the market, between 40 percent and 200 percent greater than drivable, suburban housing. Twenty-five years ago that relationship didn't exist because walkable (cities back then) was not valued.”
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UCLA Anderson Forecast predicts 'normal' California housing market
Source: LA Times
 
Construction jobs should continue to help drive job growth in Southern California over the next few years, according to the quarterly UCLA Anderson Forecast. The forecast predicts that the market will move toward more “normal territory” as foreclosures and other so-called distressed properties no longer flood the market, which will encourage builders to launch new construction.
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Obama’s housing nominee open to ending Fannie and Freddie
Source: The Hill

San Antonio Mayor Juli├ín Castro, who President Obama nominated to be secretary for Housing and Urban Development (HUD), appeared before the Senate Banking Committee this week and expressed willingness to end the federal backstop established through Fannie Mae and Freddie Mac. Castro commented, “I absolutely believe that there are better alternatives than what we have in place with this duopoly and with the conservatorship.”
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An Update from Aracely!


Change is in the air!

 
I am also excited to announce that I am moving offices to TNG Real Estate in La Habra.  You will experience the same great service and professionalism in a great new location.  I look forward to serving all your real estate needs.
 
 

 

Friday, August 29, 2014

10 Reasons Why Homeownership Never Goes Out Of Style

Source: BuzzFeed

Shaun Donovan, the outgoing secretary of the Department of Housing & Urban Development, decided to go out in style with a humorous list of reasons “homeownership is great” on the popular website BuzzFeed. Donovan introduced the list by writing, “For those ready to own, homeownership has historically served as a vehicle for Americans to build equity, start businesses, put kids through college, and retire with comfort and dignity.”
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Tuesday, August 26, 2014

Five Star Professional Award Winner - Aracely Gordon!

I am thrilled to report that, once again, I have become a FIVE STAR professional award winner for Orange County and will be featured in Orange Coast Magazine in December 2014.  Be sure to look for me!
I'm currently a two year LA County Five Star award winner
 
 

Friday, August 15, 2014

Market Matters

Housing Isn’t Overvalued, Except in These 10 Spots
Source: Wall St. Journal


With winter over and housing data showing a market that is bouncing back, bubble markets are few and far between—that is with California being the exception. Eight of the 10 most overvalued U.S. housing markets are in the Golden State; specifically, Orange Country, Los Angeles, and Riverside-San Bernardino are in the top four. Potential bubbles are determined by using price-to-income and price-to-rent ratios, as well as comparing home prices to historical trends.
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5 Surprising Missteps That Sabotage Mortgage-Seekers
Source: AOL Real Estate
 
Common credit mistakes could complicate the mortgage process for potential home buyers. Consequently, knowing ahead of time what one shouldn’t do can make all the difference in ensuring that a buyer does not jeopardize the loan approval process. For example, applying for credit during the loan process is a red flag.
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International buyers are looking for more than just vacation homes
Source: HousingWire

Dense, urban areas are now attracting the attention of international buyers rather than holiday properties in markets like Miami, Aspen, and Palm Springs. Prospective buyers in Brazil, Australia, France, Italy and Russia are searching for urban areas with greater frequency, primarily in Los Angeles, New York City, and Miami.
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Housing prices cooling slightly
Source: San Francisco Chronicle
 
While home prices aren’t exactly falling, they are rising at a slower pace. According to the S&P/Case-Shiller 20-city home price index, prices rose "only" 10.8 percent in April, compared with April of last year, which was a smaller increase than the 11.6 percentage increase that experts were expecting, and substantially lower than in previous months.
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Friday, August 8, 2014

Market Matters


Loosened Mortgage Rule Advances After SEC Drops Objection

Source: Wall Street Journal


Concerns about a down-payment requirement that could crimp access to credit and impede the fragile housing recovery led to a revised approach to mortgage rules that won’t hold borrowers to a 20 percent down-payment to get a loan (or lenders having to retain five percent of a loan's risk once it was packaged and sold to investors). Under the revision, regulators wouldn't require a down payment and would include a broad exemption for banks and other issuers of mortgage-backed securities from having to retain a portion of the credit risk on their books.
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Home Price Gains of 20% Vanish as Hottest Markets Cool
Source: Bloomberg
 
For the first time in almost two years, none of the 100 largest U.S. metropolitan areas had increases of more than 20 percent in residential asking prices last month. In light of softened demand from buyers, asking prices gained 8 percent last month from a year earlier, the slowest pace in 13 months.
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Why Renters Are Ending Up in the Suburbs
Source: The Atlantic

In fast-growing suburbs and exurbs, rentals are the major force driving growth—just not multifamily rentals. Due to an abundance of stock left over from the single-family housing boom (and the subsequent Great Recession), this housing stock is being opened to a new generation of suburban renters by investors who bought up inventory only to rent it out.
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