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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