Author: admin
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California’s $500M Anti-Foreclosure Fund Faces Cuts
The Foreclosure Intervention Housing Preservation Program aimed to preserve affordable housing in California. Governor Newsom froze the program due to budget deficits, proposing to cut it in half later.
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Terner Center report explores financial feasibility of small-scale complexes
Researchers from UC Berkeley's Terner Center studied the financial feasibility of building missing middle housing in California. The report concluded that without policies reducing development costs, such housing is not financially viable. The term "missing middle housing" refers to the lack of small-scale housing in the current market. While California has implemented reforms to promote…
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CA Housing Bill Unites NIMBYs and YIMBYs
A new California bill proposes converting vacant office buildings into housing to address the housing shortage. The bill offers faster approvals, tax credits, and fee exemptions to incentivize conversions.
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Current Mortgage and Refinance Rates in California
Interest rates in California are expected to remain stable, with mortgage rates slightly decreasing but holding steady. The Federal Reserve's decision to maintain the federal funds rate has caused minimal changes in mortgage rates. Current average interest rates for 30-year and 15-year fixed-rate mortgages align with national averages. Refinance rates are following national trends. No…
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California Hit Record: Can You Afford the Golden State?
California's median home price hit a record high of ~ $904K in Early-Q2, an 11.4% increase yearly. The Bay Area and Southern California saw the biggest price jumps, exceeding $1.3M and $880K respectively.
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California Housing Market Heats up Again
Southern California home sales jumped 8.7% yearly, and the statewide median home price exceeded $900K for the first time.This shows increase 11.4% yearly and increase 5.8% monthly.
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Orange County Multifamily Market Outlook
Local commercial real estate professionals highlight four trends for the Orange County multifamily market in 2024. Vacancies are expected to rise slightly to 4%, still lower than the national average. Class A properties face supply pressure, while Class B and C properties struggle with affordability. Investors are advised to consider flexible loan options due to…
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Confusing Market: How Can a Mortgage Broker Help?
Mortgage brokers can search a wide network of lenders to find you the best rates and terms, saving you money. An experienced broker will listen to your needs and goals, then tailor a home loan solution that fits your situation.
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California Housing Crisis: Court Ruling to the Rescue?
California struggles to build enough housing, especially affordable options. High construction costs are a major factor, including: – Building materials – Government regulations – Impact fees
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Orange County rises to No. 1 home-price gains in US
California's housing market is unaffordable, with Orange County seeing the fastest price rise in the nation, driven by luxury home buyers. In the past year, prices in Orange County rose by 10.5%, with luxury homes increasing by 12.3%. This trend differs from the national pattern where lower-priced homes are in demand. San Diego and the…