California November 2016 Home Sales Report

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Red hot California November Real Estate sales may have cooled from October, but overall continued its uphill trend with NorCal and the Central Valley seeing 8.5% price growth!  That’s a huge increase from last year.  How do you think 2017 will fare?

Closing Delays on the Rise

Closing times are lengthening. The time-to-close averaged 40.5 days from November 2015 to November 2016 compared to 36.7 days the year before, according to data from the National Association of REALTORS®. NAR called the longer times in closing “unexpected” in a recent blog post.

Read moreNew Closing Rules Remain a Challenge

NAR began tracking closing delays following the implementation in 2015 of new mortgage disclosure rules, known as TRID or Know Before You Owe. The new mortgage rules changed the settlement process by adding new closing documents and timelines. Closing times have remained elevated since the implementation of the new rules.

Continue here—>http://realtormag.realtor.org/daily-news/2016/12/16/better-watch-out-closing-delays-rise

Bright Kitchens are In!

Photo by Amy Bartlam. Design by Veneer Designs.

I stumbled on this kitchen from Veneer Designs – it’s this fabulous home in Playa Vista that is such a classic boho Southern California style. The best part of this kitchen is the antique rug. It adds such a bright spot to this bright white kitchen.  Read on —>

Bright Kitchen

A Taste of the East Side

I thought this was great coverage for NY and New England homes.  Amazing how far your money will go, especially in the suburbs compared to California Real Estate.  See More Here—>http://www.nytimes.com/2016/10/02/realestate/homes-that-sold-for-around-750000.html?smid=tw-nytrealestate&smtyp=cur

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Who’s Got Your Back?

Two words alone have, rightly, loomed large in discussions about California’s housing market this year: inventory and affordability. A tight supply of homes available for sale has helped to keep strong upward pressure on home prices, which in turn has caused further deterioration of affordability in the state.   As housing becomes more expensive, and the cost of living between expensive central areas and outlying counties expands, people begin to make decisions on the trade-offs between living farther out (and in larger houses) and commuting longer to their jobs.  For your next purchase or rental who’s got your back?  Subscribe and/or Follow me on Twitter for strategies to navigate the housing market!

whosyourrealtor

 

 

California August 2016 Home Sales Report

August 2016 breakdown – California sales were down, median prices up = TIGHT SUPPLY!  Anyone searching for a new home or searching for a rental keeps hearing this tune over and over; inventories are low.  Additionally frustrating purchases might have also been talk of an increase in interest rates by the Fed in the Fall.  We have continued to purchase homes at a steady pace but nowhere near our peak three years ago.

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California July 2016 Home Sales Report

June, July and August are considered peak sales months for real estate so it is a surprise that sales cooled in July of this year.  As VERY strong demand in rentals persists, this might be an early sign of buying demand weakening by California house consumers.

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