Real Estate News
What’s going on in Real Estate around Ventura County, The state of California, and Nationally.
C.A.R. Market Minute Write-Up 09/25/2023
September 25, 2023 - California Association of REALTORS® forecast improvement in the outlook for sales and prices at the Reimagine! Conference in Anaheim as interest rates will begin to ebb in 2024 and housing inventory and sales pick up. However, recently...
C.A.R. Market Minute Write-Up 09/18/2023
September 18, 2023 - Home sales in California had another soft month in August as interest rates surged to the highest level in 22 years late last month before calming down slightly in the past two weeks. Home prices continue to recover, nevertheless, with the...
C.A.R. 2023 July Home Sales Report
California median home price registers first annual price gain in 9 months;statewide sales take a step back in July, C.A.R. reports - Existing, single-family home sales totaled 269,180 in July on a seasonally adjusted annualized rate, down 3.0 percent from June and...
C.A.R. 2023 June Home Sales Report
The statewide median price remains above $800,000 for the third straight month, and the year-over-year price decline is the smallest since January 2023. Existing, single-family home sales totaled 277,490 in June on a seasonally adjusted annualized rate, down 4.1...
State Farm, Allstate stop selling home insurance to new customers in CA
CAR.ORG | March 27, 2023 – State Farm and Allstate have announced they will no longer sell new home insurance policies in California because of wildfire risks and an increase in construction costs. Here are some facts:State Farm and Allstate are not leaving the...
April Home Sales and Price Report
CAR.ORG | Higher mortgage rates and low housing inventory restrain California home sales in April, C.A.R. reportsStatewide median home price ratchets above $800,000 for first time in six months.Existing, single-family home sales totaled 267,880 in April on a...
Market Minute Write-Up March 27, 2023
CAR.ORG | March 27, 2023 – While home sales and employment in California continued to march forward in February, recent banking turmoil has increased uncertainty on many fronts, including the housing market. Despite declines in long-term yields, ongoing...
February 2023 Home Sales and Price Report
For release:March 16, 2023 More favorable interest rates perk up California home salesfor third straight month in February, C.A.R. reports Existing, single-family home sales totaled 284,010 in February on a seasonally adjusted annualized rate, up 17.6 percent from...
NAR Supports Newly Announced Reduction of MIPs
WASHINGTON (February 22, 2023) – National Association of Realtors® President Kenny Parcell issued the following statement in response to the announcement made Wednesday by Vice President Kamala Harris and HUD Secretary Marcia Fudge to reduce mortgage insurance...
HUD and FHA Will Provide Greater Homeownership Opportunities
For release:February 22, 2023 California REALTORS® support move by HUD and FHA that provides greater homeownership opportunities LOS ANGELES (Feb. 22) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response...
C.A.R. January 2023 Home Sales Report
For release:February 16, 2023 California home sales inch up in January for second straight monthas prices moderate further, C.A.R. reports Existing, single-family home sales totaled 241,520 in January on a seasonally adjusted annualized rate, up 0.4...
Market Minute Write-Up
February 13, 2023 – Last week, new jobless claims had their first upward movement in 6 weeks, though still low by historical standards, pointing to a labor market which remains on solid ground. Consumers overall sentiment is on the mend and, along with that,...
C.A.R. – 4th Quarter Housing Affordability
A surge in mortgage rates and elevated home prices dampened California’s housing affordability in fourth-quarter 2022, C.A.R. reports Seventeen percent of California households could afford to purchase the $790,020 median-priced home in the fourth quarter of 2022,...
California December Home Sales and Price Report
For release:January 18, 2023 Interest rate reprieve bolsters December home sales, C.A.R. reports Existing, single-family home sales totaled 240,330 in December on a seasonally adjusted annualized rate, up 1.1 percent from November and down 44.1 percent...
CA Dept. of Insurance Creates a One-stop Resource for Wildfire Info.
The California Department of Insurance has created a “one-stop” resource for wildfire information on its Wildfire Response and Readiness web page. Through its Wildfire Data and Analysis on Wildfires and Insurance, the Department can identify trends affecting the...
C.A.R.’s Market Minute Write Up – December 2022
December 19, 2022 – Based on the latest economic news, all signs point to a bumpy start of the year in 2023. Despite having improvements in inflation, a slight increase in consumer sentiment and healthy unemployment numbers, the housing market and the economy...
November 2022 Home Sales and Price Report
Rapid interest rate increases continue to depress California home sales and prices in November, C.A.R. reports Existing, single-family home sales totaled 237,740 in November on a seasonally adjusted annualized rate, down 13.2 percent from October and down 47.7 percent...
C.A.R. Applauds FHFA For Raising Conforming Loan Limits
November 29, 2022 LOS ANGELES (Nov. 29) – The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today issued the following statement in response to the Federal Housing Finance Agency’s (FHFA) announcement to increase the 2023 conforming loan limits for mortgages acquired...
C.A.R.’s October Home Sales and Price Report
For release:November 16, 2022 California home sales bear brunt of higher interest rates in October, C.A.R. reports Existing, single-family home sales totaled 274,040 in October on a seasonally adjusted annualized rate, down 10.4 percent from September and down 36.9...
C.A.R.’s Market Minute Update 11/07/2022
November 07, 2022 – Last week there was more evidence of an economy that continues to slow. The economy added more jobs, but it was the slowest pace of growth in the past two years. Construction jobs remained relatively flat and single-family construction continued...
FHFA Cuts Upfront Fees for First-time Buyers
Washington, D.C. – The Federal Housing Finance Agency (FHFA) today announced targeted changes to Fannie Mae and Freddie Mac's (the Enterprises) guarantee fee pricing by eliminating upfront fees for certain borrowers and affordable mortgage products, while implementing...
C.A.R.’s Market Minute Update 10/24/2022
October 24, 2022 – Despite slowing its upward trajectory last week, the 30-year FRM has been increasing at the fastest rate in four decades causing acute affordability challenges and forestalling many consumers’ decision to buy a house. As a result, mortgage...
C.A.R.’s Market Minute Update 10/17/2022
October 17, 2022 – Buyer demand continues to dwindle as rising mortgage rates erode consumer purchasing power. And, with the latest inflation reading coming in hot, we can expect further increases from the Fed at their upcoming meeting. In addition, REALTORS®...
Jobs, October 7, 2022
Job gains continued in September with a solid 263,000 net new additions. More Americans are working now than ever before, with 153 million on the payroll. The unemployment rate is tight at 3.5%, but the employment-to-population ratio is at 60.1% compared to 61.2%...
Happy Halloween? Mortgage Rates Average 6.66%
Home buyers may be tempted to expand their search criteria to find places that offer greater affordability farther away from city centers. Nadia Evangelou, senior economist and director of forecasting for the National Association of REALTORS®, notes that rural areas,...
Mortgage Rates, October 6, 2022
Mortgage rates took a breather this week. According to Freddie Mac, the 30-year fixed mortgage rate fell slightly to 6.66% from 6.70% the previous week. While there are mixed signals from the labor market, investors await the employment situation report that will...
C.A.R’s Weekly Market Minute 10/02/2022
October 03, 2022 – Americans’ confidence rose to the highest level in six months in September and their spending remained steady despite higher prices. Wage growth, however, is not keeping pace with inflation and thus consumers are increasingly relying on their...
Help C.A.R. DEFEAT SB 1105 and SB 679
As the California legislature closes out the 2020-2022 legislative session, which concludes at the end of this month, C.A.R. is strongly opposing two bills currently before the legislature — SB 1105 (Hueso) and SB 679 (Kamlager). Both bills create housing agencies with the power to impose a range of new property taxes on homeowners.
June Home Sales and Price Report
Existing, single-family home sales totaled 344,970 in June on a seasonally adjusted annualized rate, down 8.4 percent from May and down 20.9 percent from June 2021.
Pending Home Sales Edge Higher 0.7% in May
Pending home sales broke a six-month skid with a slight rise of 0.7% from April. Pending sales in the Northeast accelerated 15.4% in May, the largest monthly increase among the four major U.S. regions. Compared to a year ago, three out of four regions – Northeast,...
Coalition Applauds Passage of State Budget That Prioritizes Homeownership
Gavin Newsom and the California Legislature for allocating significant funding in the 2022-2023 State Budget to create homeownership opportunities for thousands of working Californians.
Save water. Save California.
As the state’s drought conditions continue to worsen, Californians have been asked to voluntarily reduce water use by 15%. If conservation efforts don’t improve this summer, the state could be forced to impose mandatory water restrictions throughout the state. - Turn...
May Monthly Home Sales and Price Report
Home sales in California dip below pre-pandemic levels as the effects of rising interest rates begin to show even as prices set another record, C.A.R. reports.
NAR Applauds FHFA Equity Plan for GSEs
WASHINGTON (June 8, 2022) – The Federal Housing Finance Agency (FHFA) released finalized equity plans Wednesday for Fannie Mae and Freddie Mac. According to the FHFA, the plans are intended to “address barriers experienced by renters, aspiring homeowners, and current...
Homeownership coalition supports joint legislative budget proposal
Legislative Budget Proposal, which proposes to make a substantial investment in new affordable home construction, down payment assistance and increased access to homeownership opportunities for all Californians.
Hud Commemorates The 20th Anniversary Of National Homeownership Month
Urban Development (HUD) and the Federal Housing Administration (FHA) mark June as National Homeownership Month following President Biden’s proclamation issued on Tuesday.
N.A.R. Applauds New HUD Program Prioritizing Housing Supply
The Department of Housing and Urban Development (HUD) announced its “Our Way Home(link is external)” initiative this week to connect communities across the country with the resources needed to combat the nation’s housing supply shortage.
Coalition Supports State Budget Investments for Ownership Housing
Today launched a digital advocacy campaign to reinforce the need to use a small part of the State’s $98 billion budget surplus to fully fund the CalHome program that helps build affordable owner-occupied homes and existing down payment assistance programs.
Commercial Real Estate Market Expected to Grow Despite Rising Interest Rates
National Association of Realtors Chief Economist Lawrence Yun expects the commercial market to perform well despite the headwinds, especially in the short term. During the 2022 REALTORS® Legislative Meetings' Commercial Economic Issues and Trends Forum(link is...
April 2022 Home Sales and Price Report for California
Rising interest rates and climbing home prices moderate California home sales in April as statewide median price sets another peak, C.A.R. reports
C.A.R. Market Minute
Rising interest rates and climbing home prices moderate California home sales as statewide median price sets another peak. Builder confidence hits lowest level since June 2020. Weekly mortgage demand from homebuyers tumbles, as higher interest rates curb sales....
Weekly Infographic 5-24-22
California Association of Realtors Weekly Infographic as of May 2022.
Parents Are Buying Real Estate in Their Kids’ College Towns
Homeownership can offer more long-term perks for college students than a dorm room would, so parents are stepping in to help their college-age children buy a home in their college town.
Existing-Home Sales Climb 2.0% in July
Existing-home sales rose 2% on a seasonally adjusted annual rate from June to July, with no sales declines showing in any regions.
November 2020 – Monthly Real Estate Statistical Update
Up-to-date data on crucial California real estate trends from RPI (Realty Publications, Inc.)
What Drives Mortgage Rates Up and Down?
Ever wonder what causes mortgage rates to go up and down? Watch this short video!
Mortgage rates remain steady, rise to 2.81%
The average U.S. mortgage rate for a 30-year fixed loan remained steady this week, gaining one basis point to 2.81%, Freddie Mac said in a report on Thursday.
What is Mortgage Forbearance?
Under the CARES Act, homeowners can ask for forbearance from their mortgage servicer and suspend payments for up to 12 months.
Rules for Appraising Conversions
Check out this list and information about all the conditions that are required to allow a garage conversion without permits for all financing.
Existing home sales surge 9.4% in September 2020
Sales of existing homes took off in September, jumping 9.4% from August to a seasonally adjusted annual rate of 6.54 million, the National Association of Realtors said in a report on Thursday.
Mortgage Rates Fall to a New Record Low
The average U.S. mortgage rate for a 30-year fixed loan fell to 2.8% this week, another record low, Freddie Mac said in a report on Thursday.
C.A.R. September 2020 Home Sales and Price Report
Existing, single-family home sales totaled 489,590 in September on a seasonally adjusted annualized rate, up 5.2 percent from August and up 21.2 percent from September 2019.
Weekly Infographic: California March 2019 Sales and Price Reports
Click the infographic to enlarge. Source: https://www.car.org/marketing/clients/infographics/2019-03%20Sales%20and%20Price%20Report%20Infographic
DRE Bulletin Digest Winter 2018/19
It’s time to dive into another Department of Real Estate (DRE) Real Estate Bulletin and see what they have on their plate this year. Read the winter 2018/19 DRE Bulletin Digest Winter 2018/19
California home sales rebound in February 2019
- Existing, single-family home sales totaled 399,080 in February on a seasonally adjusted annualized rate, up 11.3 percent from January and down 5.6 percent from February 2018. - February’s statewide median home price was $534,140, down 0.6 percent from January and up...
7 Reasons to Work With a REALTOR®
REALTORS® aren’t just agents. They’re professional members of the National Association of REALTORS® and subscribe to its strict code of ethics. This is the REALTOR® difference for home buyers: Ethical treatment. Every REALTOR® must adhere to a strict code of ethics,...
Weekly Infographic: Budgeting For Homeownership
National Association of Realtors®: Inside The R :60
National Association of Realtors® Unveils “That’s Who We R®,” a Campaign to Distinguish Realtors® from Other Real Estate Agents. Read the full article.
Weekly Infographic: Homebuying Decisions
January Marks Seven Years of Annual Home Price Appreciation
National home prices increased 4.4 percent year over year in January 2019 and are forecast to increase 4.6 percent from January 2019 to January 2020, according to the latest CoreLogic Home Price Index (HPI®) Report.
A 4.6 Percent Jump In Home Sales Pending for Janurary 2019
Read The Full Article Here: https://www.nar.realtor/newsroom/pending-home-sales-jump-4-6-percent-in-january
Weekly Infographic: Future Proof Kitchen
National Association of Realtors® Unveils “That’s Who We R®,” a Campaign to Distinguish Realtors® from Other Real Estate Agents
While many people know that a Realtor® helps buy and sell homes, what they may not know is that only a Realtor® is a member of the National Association of Realtors® and subscribes to its Code of Ethics. The campaign aims to reinforce the value of Realtors® as...
Weekly Infographic: Remodeling ROI
2019 February-January Issue of VCCAR Magazine
Don't forget to check out the 2019 February-January Issue of the VCCAR Magazine! Download the PDF Version
Mortgage Rates fall to a 12-Month Low
WASHINGTON — For all the fretting over rising mortgage rates, they continue to do just the opposite. Mortgage rates have been steadily falling or holding ground since last November, and the average rate on a 30-year fixed-rate mortgage is now the lowest in a year....
C.A.R. response to Gov. Newsom’s 2019 State of the State address
Here is Jared Martin, the president of The California Association of REALTORS® Source: https://www.youtube.com/watch?v=jFHjCfsLA5o&feature=youtu.be
C.A.R. – 2018 4th Quarter Housing Affordability
California housing affordability inches up in fourth quarter 2018. The CALIFORNIA ASSOCIATION OF REALTORS® has released the 4th Quarter Housing Affordability.
The difference between a foreclosure and a short sale
Have you ever wondered what the difference between a foreclosure and a short sale is? Realtor.com makes it easy to understand in this article.
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Russell Boyd | DRE#: 02074486
Direct: 805.746.1368 / Office: 805.643.0000x703 / Email: russell@russellboyd.realtor
Sun Coast Real Estate Downtown, 31 South California Street Ventura, CA 93001
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