Buying

November Market Update

Blog, Buying, Dunham Stewart, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Uncategorized   |   Dunham Stewart

U.S. Mortgage Rates Dip in Mid-November

According to Freddie Mac’s latest Primary Mortgage Market Survey, the average U.S. mortgage rate slightly dipped across the board.

Sean Becketti, chief economist of Freddie Mac said, “After holding steady last week, rates dipped slightly this week. The 10-year Treasury yield fell roughly 7 basis points, while the 30-year mortgage rate dropped 4 basis points to 3.90 percent.”

Freddie Mac News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.90 percent with an average 0.4 point for the week ending November 9, 2017, down from last week when it averaged 3.94 percent. A year ago at this time, the 30-year FRM averaged 3.57 percent.
  • 15-year FRM this week averaged 3.24 percent with an average 0.5 point, down from last week when it averaged 3.27 percent. A year ago at this time, the 15-year FRM averaged 2.88 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.22 percent this week with an average 0.5 point, down from last week when it averaged 3.23 percent. A year ago at this time, the 5-year ARM averaged 2.88 percent.

Read more local and national news HERE

2017 New Home Sales & New Home Construction Pipeline

Blog, Buying, Dunham Stewart, Hermosa Beach, Hermosa Beach News, Manhattan Beach, Manhattan Beach News, Market Minutes, Market Updates, North Redondo Beach News, Real Estate News, Real Estate Tips, Redondo Beach, South Bay Living, Uncategorized   |   Dunham Stewart

I wanted to share some perspective of new home sales and new home construction pipeline for the balance of this year, and the next couple years in the Beach Cities. Check out the short video & feel free to reach out with any questions, or any real estate needs!

Polished: Market Update

Blog, Buying, Community News, Dunham Stewart, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Redondo Beach, Uncategorized   |   Dunham Stewart

From busier than usual beach parking to longer lines for dining al fresco, and the slight underlying scent of sunscreen… all the signs of another exciting summer abound. It seems there is fun to be had and it’s all outdoors in an attempt to catch a breeze in this heat!
The rise in temps all around can also be seen cooking up the rising rents in the area! The sales of apartment buildings in the South Bay have nearly tripled recently. Giving the new owners a fantastic reason to do a few upgrades (great for the construction companies!) and therefore pass that cost onto their tenants.
This rise in rental property transactions have been linked to several factors including reality TV renovation shows as well as the soon to be finished NFL stadium. It’s more than likely a combination of a few factors. No matter how you look at it, upgrading current buildings brings a new found inspiration for economic growth throughout the area.
For more articles, click HERE

POLISHED *Market Update*

Blog, Buying, Community News, Dunham Stewart, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Selling   |   Dunham Stewart

We are now seeing record high selling prices for homes in many markets of California and the nation.

The sky high home values that seemed unbelievable back in 2007 have now been eclipsed in many of the larger markets of the state. The markets in the Bay Area now boast the highest values and record fast sell times.

 

Demand Conditions

  • Employment is strong throughout the state. In all coastal counties, the unemployment rate is now at the full employment level, meaning that job opportunities are relatively abundant and wages are rising.
  • The average rate for a 30-year fixed mortgage was 3.83% this week — significantly below the 5% to 6% range during the 2005 to 2007 “bubble” years.
  • In fear of facing higher interest rates because of overt statements by the Federal Reserve to push rates higher in a measured fashion, demand for mortgages has increased.
  • Because consumer confidence in March was at its highest level since 2000, people in general are feeling very confident about their employment prospects, their future income prospects, and the stability of the economy right now.
  • The financial market composite indices are at or near all time record highs. Households owning financial assets are feeling more wealthy today than during the previous 10 years.

Click HERE for the full article.

April Market Update

Blog, Buying, Community News, Dunham Stewart, Market Updates, Real Estate News, Real Estate Tips, Selling, South Bay Living, Uncategorized   |   Dunham Stewart

Here in the Beach Cities, spring is in full bloom and there are signs of it all around us.

In real estate markets near and far, growth is abundant and it looks like it will continue that way for at least a bit!

According to National Mortgage Professional Magazine, “… Sky-high potential price gains may be finally prompting more homeowners to sell.” This is fantastic news for sellers and buyers alike. Movement increases inventory. Inventory increases a buyers choices. We all like choices! The unique and distinctive properties available on the market right now are not to be missed!

Read more by clicking HERE!

*Market Update*

Blog, Buying, Community News, Dunham Stewart, Hermosa Beach, Hermosa Beach News, Market Updates, Uncategorized   |   Dunham Stewart

“Hermosa Beach will temporarily permit residents of commercial areas to rent out their homes to vacationers on sites like Airbnb.com — even as it fights a court challenge to its outright ban on them in most neighborhoods.”

 

Read more by clicking HERE

Market Update – January 2017

Blog, Buying, Community News, Dunham Stewart, Hermosa Beach, Hermosa Beach News, Manhattan Beach, Manhattan Beach News, Market Minutes, Market Updates, Real Estate News, Real Estate Tips, Uncategorized   |   Dunham Stewart

Happy New Year!

CoreLogic reported in late December that home buying saw the fastest November in more than four years even though the month’s sales totaled 7.5% below 1988 month average.  The surge in sales increased what buyers paid. Our relatively robust local job market created more job opportunities along with pay hikes nationwide.  Fewer absentee buyers were reported.  Mortgage financing was not used in 21% of the deals.

For full report, click HERE!

jan17_sales

Housing Market Update – November 2016

Blog, Buying, Community News, Dunham Stewart, Market Updates, Real Estate News, Selling   |   Dunham Stewart

After falling to the lowest level in 50 years, the U.S. homeownership rate bounced up slightly in the third quarter of this year. Corelogic reports that the amount of equity homeowners now have has doubled in the last five years sales.

For the full article & market report, click HERE!

Housing Market Update Pic1

Housing Market Update – October 2016

Blog, Buying, Community News, Dunham Stewart, Market Updates, Real Estate News, Real Estate Tips, Selling, Uncategorized   |   Dunham Stewart

“Existing-home sales rebounded strongly in September and were propelled by sales from first-time buyers reaching a 34 percent share, which is a high not seen in over four years, according to the National Association of Realtors®. All major regions saw an increase in closings last month, and distressed sales fell to a new low of 4 percent of the market.”

Click HERE for complete article, plus inside market info!

Housing Market Update Pic1

 

Why Buyers Choose a Particular Home

Blog, Buying   |   Dunham Stewart

redondo beach home buyers

When it comes to home buyer preference, there are a lot of variables. Some people buy according to price, while others are looking for a particular neighborhood or style of home. A recent analysis of the Department of Housing and Urban Development’s American Housing Survey done by the National Association of Home Builders looked at what’s most important to buyers of both new and existing homes. According to the report, the top two reasons a buyer chooses a particular home are size and layout/design. In fact, 76 percent of buyers named size the most important factor and 74 percent said layout. Neighborhood came in third at 72 percent of buyers. New home buyers named similar features but added exterior appearance and construction quality to their list of deciding factors. They were also even more likely to name these features as important than buyers of previously owned homes. Among first-time buyers, the home’s price was a bigger factor than among other buyers. First timers were also more likely to look for a neighborhood that was close to work, family, and friends. Other buyers said the neighborhood they moved to would be based primarily on the house they were interested in and safety. To a lesser extent, potential home buyers were interested in buying in a good school district, though that tended to be more important to new home buyers than other types of buyers. More here.

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