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Interesting Statistics Category

higher inventories a welcome sign for spring buyers!

Kathleen Finnegan The spring home buying season is off to a stronger start than at this time last year, with modest price increases and a spike in inventory, according to realtor.com’s National Housing Trend Report for March. 467019497 The number of properties for sale  in March rose 9.5% above March 2013 levels, to 1,841,844 units, according to the report. The median list price was 5.3% higher than in March of last year, and the median age of inventory increased 22.9% above the year-ago... Continue Reading >

home prices likely to moderate soon

Home owners have been enjoying big home price rises across the country, but those increases – often by double-digit percentages – will likely level off soon, according to CoreLogic’s latest Home Price Index, which reflects February data. The index, which also includes distressed sales, was up 12.2 percent in February compared to year-ago levels. That marked the 24th consecutive month for annual home price increases, according to CoreLogic’s index. “As the spring home-buying season kicks off, house price appreciation continues to... Continue Reading >

market update – at a glance

According to a new survey from Fannie Mae, credit availability is improving. For the first time in more than three years, the majority of consumers believe it’s easier to get a mortgage. “The gradual upward trend during the last few months bodes well for the housing recovery and may be contributing to this month’s increase in consumers’ intention to buy rather than rent their next home,” said Doug Duncan, chief economist for Fannie Mae. Mike Fratatoni, chief economist for the Mortgage... Continue Reading >

down payments – is bigger better?

Most homebuyers have to finance most of the home's purchase price with a mortgage. The amount you put down upfront determines the size of the mortgage. A conventional mortgage usually requires a down payment of 20% of the purchase price of the house. Here are a few reasons to save for a bigger down payment. 1. Reduced mortgage payments The more you put down on your home upfront, the smaller your mortgage payments will be. That could help your monthly budget. More... Continue Reading >

5 mortage tips for home buyers

Kathleen Finnegan Here are a few tips for home buyers on securing a mortgage, getting the best rate, and more. 1. Be prepared to document your finances. Buyers should be prepared for extra review by lenders when underwriting mortgages due to new mortgage regulations that took effect in January, particularly in proving borrowers’ ability to repay their loans. Borrowers should be prepared to show bank statements, tax returns, W-2s, investment accounts, and documentation of any other assets they own. Also, they should be prepared to... Continue Reading >

tight housing inventories still affecting the markets

Kathleen Finnegan Home buyers continue to face limited choices of homes for sale in many markets, according to realtor.com®’s National Housing Trend Report. As we open the new year, the first-quarter inventory figures are especially crucial as our first indication of seller confidence for the 2014 home buying season, the market is still showing significant demand, but in order to have a strong home buying season, sellers need to put their homes on the market. Some of the markets that saw the highest upticks... Continue Reading >

property taxes – avoiding reassessment

Kathleen Finnegan This is a question that my clients bring up a lot. How to transfer property taxes and/or avoid reassessment. This post should help to shed a little light on, what tends to be, a confusing matter. Prior to the passage of Proposition 13, the county assessor in each county would reassess the value of property every four years or so. During times of high appreciation, property taxes often quadrupled, leaving those on a fixed income unable to afford the taxes, and being... Continue Reading >

home owners stand to recapture more equity in 2014

The number of underwater homes continues to slip, with 791,000 properties regaining equity during the third quarter. Currently, about 13 percent of all homes with a mortgage -- or 6.4 million -- remain in negative equity compared to 14.7 percent -- or 7.2 million -- at the end of the second quarter. An estimated 42.6 million homes in the U.S. have positive equity. About 20 percent-- or 10 million -- of those homes, however, have less than 20 percent of equity or... Continue Reading >

home buyers making a move this winter

Kathleen Finnegan Home buyers who weren’t successful this summer at finding a home due to limited inventories and competition from all-cash offers are looking to retry their luck in the winter, according to realtor.com’s Winter Home Buyer Report. This summer and spring, home-buying season was particularly challenging for some buyers, especially first-time home buyers trying to compete with all-cash offers and bidding wars because of reduced inventory.  A quarter of the winter home buyers revealed they are in the market now because they were... Continue Reading >

5 lenders boasting highest customer satisfaction

Customer satisfaction with mortgage lenders reached a seven-year high this year, according to J.D. Power's 2013 U.S. Primary Mortgage Origination Satisfaction Study. The study measures customer satisfaction in four key areas: application/approval process, loan representative, closing, and contact. “As refinancing volumes are on the decline, consumers contemplating purchasing a home are likely to have multiple lenders competing for their business,” says Craig Martin, director of financial services practices at J.D. Power. “This can be particularly beneficial for those who are first-time... Continue Reading >

Kathleen Finnegan

23925 Park Sorrento
Calabasas, Ca 91302

Office 818-876-3111
Cell 818-601-0056