Lenders learned their lesson last time - instead of foreclosing on non-payers and risk losing money, it's better to extend and pretend. There won't be a time coming where we are flooded with REOs....ever again: Mortgage forbearances for homeowners affected financially...
Zillow's estimates of appreciation over the next year: Carmel Valley, 92130: +7.2% NW Carlsbad, 92008: +7.7% SE Carlsbad, 92009: +7.2% Encinitas, 92024: +7.2% Del Mar, 92014: +6.9% La Jolla, 92037: +7.2% Rancho Santa Fe, 92067: +6.9% Santaluz/4S/Del Sur, 92127: +7.1%...
We've had frenzy conditions previously. Can previous experience indicate what might be brewing for 2021? The last time we had full-blown frenzy conditions was in 2013 - let's use the October 1 to September 30 timeframe so we can get a good experience of this year. ...
The California Association of Realtors kicks off the 2021 forecast season! To show how far removed they are from reality, check their foreclosure forecast. Homeowners are flush with equity, and if they get in trouble, they will sell before they getting foreclosed...
With the nation’s economy climbing out of a COVID-19 hole, home sales continue at a record pace. Total existing-home sales rose 2.4% from July to a seasonally-adjusted annual rate of 6 million in August. Sales were up 10.5% from a year ago. After plummeting in March,...
After another weekend of multiple-offer situations where the listing agents made no attempt whatsoever to create a bidding war, and instead just shut down the showings, it's hard to believe there is any downturn coming our way. When you can get a mortgage rate in the...
It was on April 15th that I drew up the calendar above, and then I added the additional red box around June when it was becoming obvious by the end of May that the market was taking off. June, July, and August were all dead-red-full-tilt-boogie, then we had a blip...
With our unemployment rate being higher than it was during the Great Recession, it would be prudent to worry about homeowners defaulting on their mortgages.....except we didn't even make this list: Those who do go into default should find their lenders being very...
The turnover and upgrading of neighborhoods is commonly called gentrification, and what it means around here is that the affluent buyers (many, if not most, from outside the county) take over the real estate market, one house at a time. Their money does the talking -...
Catherine asked what I thought about the next 1-2 years of real estate. First let's discuss why real estate in the future won't be like it's been in the past - we're out of dirt. Here's my conversation with Bill Davidson in 2012 about the future of home-building in...
