Update on the Housing Market - You Won't believe what's happening

All that talk about higher interest rates and home prices falling - THEY WERE DEAD WRONG!

Check out these updates courtesy from one of our Trusted Lenders, Kevin Budde, President of Monarch Coast Financial NMLS 325450

CoreLogic reported Wednesday Southern California home sales rose in July from a year earlier. The six county median price climbed 1.9% in July, and it was the first sales price increase in 12 months. Home sales gained 3.7% when compared to July of 2018. The contributing factors for the improvement included falling mortgage rates, moderating prices and a rise in inventory. Of the six county Southern California region, Los Angeles and San Bernardino Counties had the largest price gains and San Diego and Ventura Counties had the largest sales gains. Orange County was close to flat in both categories.

Home Affordability is Up Despite Rising Home Prices

First American Financial reported this week that home affordability is up despite rising home prices. Average hourly earnings grew 3.3% year over year, equivalent to a 2.4% increase in household income while mortgage rates dropped between June 2018 and June 2019. The net effect is consumer house buying power increased 12.2% compared to one year ago.

Stated Income Loans Available for Self-Employed Borrowers

A new program for self-employed borrowers who want to purchase a primary residence but don’t show enough income on their tax returns. With 2 years of self-employment they can state their income on the loan application and not provide tax returns. The minimum down payment is 25% and we offer loans to $5 Million with rates as low as 4.75%.

With interest rates so low this is a good time to think about buying a second home or investment property. Rents are rising too so let us find you a home were the rents cover your mortgage. Vacation Rentals are becoming more and more popular as an alternative to hotels and can be a great investment. With offices all over the world, we can help you find the right property just about anywhere! Cheryl Coleman

 4 home one lot

4 Homes on one lot
Award winning Neighborhood - Spectacular Property
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maountain living

Mountain Living
Huge Home surrounded on 3 sides by the National Forest
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amazing lake view

Amazing Lakeview Home
Located directly across the street from Lake Huntington
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ocean view

Ocean view 55+
Elegant one level Senior Living in Laguna Nigel
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Last modified onMonday, 09 September 2019 17:24

THE CHERYL COLEMAN TEAM

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