Category: Uncategorized
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Mortgage rates are dropping: what it means for California homeowners and homebuyers
Homeownership is vital for building generational wealth, especially in the Black community, where 90% of wealth gains come from it. The Federal Reserve may cut interest rates, impacting affordability for buyers and current homeowners. Prospective buyers should focus on financial readiness rather than timing the market. Low down payment options and grants are available. Existing…
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How Much Does It Cost to Sell a House in California?
Selling a home in California typically costs 9.81% of the sale price, including REALTOR® fees, closing costs, and staging.The avg REALTOR® commission in California is 5.11% of the home’s sale price, with a potential seller concession to help cover buyer’s agent costs.
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California launches $80 million rebate program to electrify multifamily buildings, homes
California has initiated an $80 million rebate program to support the electrification of multifamily buildings and homes across the state. Continue to full article
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These 4 States Have the Most Mortgage Balances Over $1 Million – What Does That Mean for Their Housing Markets?
Mortgage balances exceeding $1 million are prevalent in California, New York, Florida, and Washington, indicating rising home prices and affordability challenges. California leads with cities like Atherton averaging $2,447,013, while New York's Sagaponack follows at $1,888,234. Florida's Bal Harbour tops the list at $2,589,207. Washington's Clyde Hill averages $1,783,075. The trend suggests a growing luxury…
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Benefits of 2024 Fall and Winter for California Homebuyers
Autumn sees determined sellers open to negotiations, accepting lower prices in September through November. In winter, housing prices drop and reduced competition helps you find negotiable deals on your dream home.
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Tips for Your Upcoming Mortgage Renewal
Initiate discussions with lenders up to 120 days before renewal to compare rates and secure the best termsExplore options beyond your current lender to ensure you're getting the most competitive rate.
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Home Sales Slow Across CA
Home sales in Southern California and statewide slowed in August, with a 2.3% decline in the region compared to last year and a 5.3% drop from July. Los Angeles County saw a 3.2% decrease from July, while Orange County dropped 6.5%. Statewide sales fell 6.3% from July but were up 2.8% year-over-year. The median price…
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California: Expensive Living With Endless Opportunities
California is the most populous US state, with 68% of residents living in coastal areas. California’s cost of living is high, with a median home value of $573,200 and rent of $2,950.
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California’s New Housing Market Targets Wealthy Buyers
New homes in California are 22% more expensive and 27% larger. Nationwide, new homes are 15% pricier and 16% larger than older homes.
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California Housing Market Forecast 2025: A Brighter Outlook?
The California housing market forecast for 2025 predicts increased sales and moderately higher prices, driven by lower interest rates and a loosening of the “lock-in” effect. Approximately 304,400 homes are expected to be sold, marking a 10.5% increase from 2024, with median home prices rising to $909,400. However, affordability remains a challenge, with only about…