Link to full report. At the link above is the full September 2021 Economic Report released by SDAR written by Alan Nevin – Director of Economic and Market Research, Xpera Group. Below is a snapshot of real estate data.
The 2021 Conforming Loan Limits have been released. $548,250 – Nationwide (True Conforming vs. Hi-Bal) $753,250 – San Diego County $548,250 – Riverside County $822,375 – Orange County Rates projected to stay low through the first quarter of next year. So that bodes well for business through the middle of 2021. More info? Click here.
During this designated disaster period which began on March 13, a borrower with a federally backed loan can request forbearance through the loan servicer. A federally-backed loan means that it’s either guaranteed or insured by the Federal Housing Administration, Department of Veterans, Department of Agriculture or purchased or securitized by Fannie Mae or Freddie Mac. Once the request is submitted, forbearance is granted for a period of up to 180 […]
Read the full Value Penguin article here: Since 1971, historical mortgage rates for 30-year fixed loans have hit historic highs and lows due to various factors. Using data from Freddie Mac’s Primary Mortgage Market Survey (PMMS), we’ll do a deep dive into what’s driven historical mortgage rate movements over time, and how they affect buying or refinancing a home. In 1971, the same year when Freddie Mac started surveying lenders, […]
California home sales perk up in July for first time in more than a year, C.A.R. reports – Existing, single-family home sales totaled 411,630 in July on a seasonally adjusted annualized rate, up 5.6 percent from June and up 1.1 percent from July 2018. – July’s statewide median home price was $607,990, down 0.4 percent from June and up 2.8 percent from July 2018. – Year-to-date statewide home sales were down 4.9 percent […]
From an article in the San Diego Union Tribune. The San Diego City Council approved new zoning policies Monday allowing developers to more quickly and cheaply build large mixed-use projects featuring dense housing blended with commercial and industrial uses. The goal is spurring more developments in suburban-style parts of the city with large surface parking lots, such as Mission Valley, Kearny Mesa, Mira Mesa and University City. The zoning would […]
How does the current government shut-down affect the mortgage market? A recent article on Forbes.com outlines four ways the shutdown really does impact the mortgage market. Read the full story here. 1) Lower rates may be due to the shutdown 2) FHA loans will be affected 3) I.R.S. documents out of reach 4) A weaker U.S. housing market
Imagine buying a property with bitcoin proceeds and then finding out the IRS wants 20%. The IRS has made it clear over the last few years that bitcoin and other digital assets are on its radar. In 2018, the IRS released a notice to remind taxpayers that crypto transactions have tax implications. Read the full article HERE.
Thank you to Kimball, Tirey & St. John LLP for the article below. The complete article can be found here. A jury in Los Angeles recently awarded $3,500,000 to sixteen current and former residents against the owner of their apartment community based upon a bed bug infestation. This follows a jury award of $546,000 against a hotel in Rancho Cucamonga also based on bed bugs. Lawsuits based upon bed bug infestations […]