Author: admin
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The Fed Hits Pause on Interest Rate Hikes
The Fed Paused its key interest rate at at its current range between 5.25% and 5.50%. Meanwhile a rate hike is expected on Fed next meeting on Oct 31- Nov 1.Officials cut forecasts for 2024 rate cuts, suggesting a "higher for longer" policy; benchmark rate above 5% by end of 2024.
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California Housing Affordability Hits a 16-Year Low
California's housing affordability hits a 16-yr low, with less than 1 in 5 homebuyers able to afford a median-priced, single-family home.
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California Home Sales Show Signs of Stabilization
California's single-family home sales ↓ 9% yearly and ↓ 3% MoM in July. Sales decline of <10% marks moderation and potential turnaround.
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NAHB: Single-family home size falls to decade Low
The Census Quarterly Starts and Completions by Purpose and Design and NAHB analysis for the second quarter of 2023 showed that the median single-family square floor area decreased to 2,191 square feet, the lowest since 2010. During the COVID-19 pandemic, when mortgage rates were at historic lows, buyers had more purchasing power, causing the demand…
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Local vs. State: Housing Power Struggle
Warning issued over housing rule misuse amid growing opposition to these regulations. A new proposal grants local authorities power to counter state housing rules, prioritizing community preferences.
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Rent Control Measure Hits California’s 2024 Ballot
Initiative 1942 will appear on California's November 2024 ballot. It aims to give local jurisdictions the authority to impose rent control measures as they see fit.
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Options for Zero-Down Loans and Downpayment Grants Provide Relief in Orange County’s Housing Market
Westcom Credit Union is offering an amazing mortgage deal in the Southern California housing market, with no down payment for loans up to $750,000. It is available to first-time buyers, veteran homeowners, and even co-owners, with no income caps. There are some conditions, such as needing to be a Wescom member, contributing a minimum of…
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California Housing Market’s Rebound Predictions
California's housing market to rebound by 7.3% over the next year, following a recent decline in home values. Federal Reserve rate hikes impacted affordability, leading to a 2.2% drop in prices in the past year.
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A Thorough Home Inspection in California
A comprehensive home inspection is vital when purchasing a home, uncovering hidden issues and preventing unexpected repairs. Qualified inspectors evaluate property conditions, providing an unbiased report to help buyers understand potential risks. Various types of home inspections are conducted, including general assessments and specialized checks. Inspection reports include photos and observations, helping buyers make informed…
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Competition for Apartments in Central California
The Central Valley is the 10th most competitive rental market in California. There are an avg of 8 renters considering each apartment that comes on the market.