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Market Action Report – County_ Orange – Mar2014Market Action Report – County_ Los Angeles – Mar2014Market Action Report – County_ San Diego – Mar2014Market Action Report – County_ Ventura – Mar2014

 

Coldwell Banker Southern California March 2014 Real Estate Market Action Reports for Los Angeles, Orange, San Diego and Ventura Counties.

Los Angeles County

Property Sales were -15.1% from March2013

Property Sales were +25.4% from last month

Median Sales Price was +13.8%  from March2013

Median Sales Price was +3.4% from last month

Inventory of Properties was +21.9% from March2013

Inventory of Properties was +11.1% last month

Orange County

Property Sales were -12.6% from March2013

Property Sales were +33.6% from last month

Median Sales Price was +11.5%  from March2013

Median Sales Price was +0.7% from last month

Inventory of Properties was +65.3% from March2013

Inventory of Properties was  +21.9% last month

San Diego County

Property Sales were -20.1% from March2013

Property Sales were +19.3% from last month

Median Sales Price was +13.3%  from March2013

Median Sales Price was +6.1% from last month

Inventory of Properties was +2.2%% from March2013

Inventory of Properties was -0.7% last month

Ventura County

Property Sales were -25.0% from March2013

Property Sales were +30.1% from last month

Median Sales Price was +8.4%  from March2013

Median Sales Price was +1.1% from last month

Inventory of Properties was +7.0% from March2013

Inventory of Properties was +3.5% last month

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Southern California Real Estate Market Update – January 2014

Coldwell Banker Southern California’s January 2014 Market Action Reports for Los Angeles, Orange, San Diego and Ventura Counties.

Market Action Report – County_ Ventura – Jan2014 Market Action Report – County_ San Diego – Jan2014 Market Action Report – County_ Orange – Jan2014 Market Action Report – County_ Los Angeles – Jan2014

Los Angeles County

Property Sales were -12.6% from January 2013

Property Sales were  -21.9% from last month

Median Sales Price was +22.9%  from January 2013

Median Sales Price was – 3.4% from last month

Inventory of Properties was +6.9% from January 2013

Inventory of Properties was +10.8% last month

Orange County

Property Sales were -18.2% from January 2013

Property Sales were -28.7% from last month

Median Sales Price was +17.2%  from January 2013

Median Sales Price was -1.9% from last month

Inventory of Properties was +34.8% from January 2013

Inventory of Properties was +15.7% last month

San Diego County

Property Sales were -17.3% from January 2013

Property Sales were -23.8% from last month

Median Sales Price was +14.9%  from January 2013

Median Sales Price was -2.8% from last month

Inventory of Properties was -4.3% from January 2013

Inventory of Properties was +6.0% last month

Ventura County

Property Sales were -13.3% from January 2013

Property Sales were -31% from last month

Median Sales Price was +20.4%  from January 2013

Median Sales Price was -2.1% from last month

Inventory of Properties was -7% from January 2013

Inventory of Properties was +5.7% last month

New Mortgage Rules Roll Out – What Will Be the Impact?

New Mortgage Rules Roll Out – What Will Be the Impact?.

New Mortgage Rules Roll Out – What Will Be the Impact?

Here are two main terms to know from the new rules:

“Ability-to-repay” rule: Mortgage lenders must ensure borrowers can actually afford their loans over the long term. Applicants’ income, assets, savings, and debt against their monthly house payments will be more closely scrutinized. Borrowers likely will need to produce “even more tax records, pay stubs, and bank and investment account information,” USA Today reports.

Qualified Mortgage: Borrowers who meet the ability-to-repay requirements will likely be eligible for a QM. QM loans must meet at least some of the following guidelines: They cannot contain risky features, such as terms that exceed 30 years or interest-only payments; carry more than 3 percent in upfront points and fees for loans above $100,000; or push a borrowers’ total debt above 43 percent of their monthly income unless the loan qualifies to be backed by Fannie Mae, Freddie Mac, the FHA, or a small lender.

Lenders can still issue loans outside of the QM guidelines, but lenders will have to do so realizing they’ll have less protections against future lawsuits.

The Consumer Financial Protection Bureau estimates that about 92 percent of mortgages currently meet QM requirements.

Still, the real estate and mortgage industry, the CFPB, and others will watch implementation of the new rules closely to determine whether they make it more difficult for borrowers to qualify for mortgages.

The new rules may make it more difficult for borrowers who have fluctuating incomes or self-employed individuals to validate their incomes, according to Goldman Sachs. The 43 percent debt standard also may prove a hurdle for some borrowers who find they can’t qualify for the loan they need to buy the house they want, and some borrowers may find they need larger down payments to keep within that 43 percent rule.

The new rules may also cause some delays in lending, at least initially, says Keith Gumbinger, mortgage expert with HSH Associates.

“It’ll be a muddy mess until the rules settle in,” Gumbinger says.

Source: “New Mortgage Rules Aim to Prevent Risky Loans,” USA Today (Jan. 9, 2014)

Southern California’s December 2013 Market Update for Los Angeles, Orange, San Diego and Ventura Counties.

Market Action Report – County_ Orange – Dec2013 Market Action Report – County_ San Diego – Dec2013 Market Action Report – County_ Los Angeles – Dec2013 Market Action Report – County_ Ventura – Dec2013 Los Angeles County Property Sales were … Continue reading