Severe Inventory Crunches Finally Easing..

DAILY REAL ESTATE NEWS | FRIDAY, OCTOBER 25, 2013

The inventory problem that has plagued many parts of the country over the past year is showing signs of improving, according to a new report by realtor.com®. While the number of homes listed for sale nationwide fell slightly in September, many markets also saw an increase in inventory levels as rising home prices gave sellers more incentives to list. 

Inventory levels are at their third highest level of the year. Nine of the top 30 metros saw year-over-year increases in their inventory levels. Some housing markets that experienced the largest drops in homes for sale in the past year are starting to see an increase. The following metros have seen some of the largest year-over-year increases in inventories: 

Los Angeles: +25.2% 

Sacramento, Calif.: +20.9%

Atlanta: +14.4%

Orange County, Calif.: +14.3%

Orlando: +12.5%

Phoenix: +7.7%

However, inventory levels still remain far below year ago levels in the following areas: 

Detroit: -19.6%

Boston: -16%

Denver: -15.4%

Realtor.com®’s figures cover sale listings for more than 800 MLS’ nationwide, but they do not cover new-home construction or “for sale by owner” listings. 

On Monday, the National Association of REALTORS® reported year-over-year gains in unsold home inventories for the first time in more than two-and-a-half years. NAR reported the housing inventory nationwide was 2.21 million in September, up from 1.8 percent compared to year ago levels. 

Source: “Report: Housing Inventory Fell in September,” The Wall Street Journal (Oct. 24, 2013)

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9220 Haven Ave. Suite 100

Rancho Cucamonga Ca, 91730

BRE 01435824

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5834 Brentwood PL, Fontana Ca, 92336

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Come fall in love with this move in ready home and create your own wonderful family memories here. Home is on quite cul-de-sac with no one behind you. The minute you walk in the door you will be greeted by an open bright space with fresh neutral color paint and brand new carpet, walk pass the living room toward private family room on your left with cozy fireplace and dining area to your right with gourmet spacious kitchen with brand new granite countertops, new tile floors, large size granite center island, lots of cabinets and pantry in kitchen for all your storage. You will also find downstairs laundry & 1 bonus room downstairs which can be converted to 5th bedroom. Walk up the beautiful stairs and be greeted by an open space loft on your right, 3 bedrooms and 1 full bath on your left and double door master bedroom by stairs, master bedroom is huge with separate shower and tub, his/her sink with granite counter top, huge walk-in closet. This home offers 3,683 sqft, 6,314 lot size, total 4 bedrooms, 1 Bonus Room, 2.5 baths, huge loft, laundry room & spacious backyard for plenty of room to enjoy all your social gathering. Home is very close to all the shopping centers, schools, 210 & 15 fwy. Hurry before this home is gone!

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9220 Haven Ave. Suite 100

Rancho Cucamonga Ca, 91730

BRE 01435824

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Little Time or Money to Get Creative This Halloween? Try a Costume Swap...

• 

  Little Time or Money to Get Creative This Halloween? Try a Costume Swap

  Halloween costume swaps turn last year’s cowboys into this year’s ninjas at no cost. Read

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Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

Get Qualified Now By A Loan Professional. 

Robert De La Rosa

An Expert In Your Court

 909.271.5640 CALL NOW!!!!

www.TheCaliforniaPropertyConnection.net

9220 Haven Ave. Suite 100

Rancho Cucamonga Ca, 91730

BRE 01435824

Neighborhoods: More Walkable, More Desirable...

DAILY REAL ESTATE NEWS | FRIDAY, OCTOBER 11, 2013

City planners across the country are looking to revitalize suburban areas by making them more walkable, CNBC reports. 

Neighborhoods that boast greater walkability tend to have higher resale values in both residential and commercial properties, finds a recent study published in Real Estate Economics. In fact, a 2009 report by CEOs for Cities found that just a one-point increase in a city’s walk score could potentially increase homes’ values by $700 to $3,000. 

"There's a strong preference for being in a neighborhood where people can walk to shops, restaurants, parks," says Joe Molinaro, NAR's managing director of community and public affairs. 

In NAR’s 2011 Consumer Preference Survey, two-thirds of those surveyed cited walkability as an important factor in choosing where to live. What’s more, the study found that consumers were willing to sacrifice other items on their wish-lists in order to be located in a walkable neighborhood.

These high-density spaces that blend commercial workspaces, retail housing, and parks mostly have been in high demand in places like Boston, Chicago, New York, and San Francisco. But now other cities want to follow suit. 

For example, officials in Woodstock, Ga., a small town about 30 miles outside of Atlanta, decided to counter its suburban sprawl by redesigning its city center to include more than 30 acres of the surrounding land, 300 housing units, 80,000 square feet of commercial space, and open parks. The move helped make the city more walkable. The change has helped to contribute to a 17 percent growth in the town’s downtown property values over the past five years. 

"Walkability plays a big part in an area's economic vibrancy," says Scott Bricker, executive director of America Walks, a national nonprofit that promotes walkable communities. "The most valuable real estate around the world is in walkable places, places where people are living and working in closer proximity."

Source: NAR and “Ditch the car? Dying suburbs revived by walking,” CNBC (Oct. 9, 2013)

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Is Your Neighborhood Walkable?

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9220 Haven Ave. Suite 100

Rancho Cucamonga Ca, 91730

BRE 01435824

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Freddie Mac's Plan to Stall Impact of Shutdown

DAILY REAL ESTATE NEWS | TUESDAY, OCTOBER 08, 2013

With the government shutdown now in its second week, Freddie Mac has issued intermediate guidelines to lending institutions for approving home loans and modifications to keep the housing market from grinding to a halt.

Federal employees and contractors are not receiving paychecks during the government shutdown, but Freddie Mac is allowing lenders to approve mortgages for those borrowers — even in the absence of steady income — assuming they meet other loan requirements and plan to return to work once the government reopens.  

"Today’s bulletin is intended to give lenders the certainty to continue approving and delivering new mortgages that meet Freddie Mac guidelines to eligible borrowers, such as federal employees and contractors, during the temporary shutdown," says Dave Lowman, Freddie Mac executive vice president of single-family business. "We are also reminding servicers of our forbearance options to assist qualified home owners with Freddie Mac mortgages to minimize the shutdown’s impact on our nation’s families and communities."

Freddie Mac has mortgage relief and forbearance policies available to public- and private-sector employees who are affected by the government’s shutdown. One of the biggest hurdles for lenders is being unable to verify borrowers’ income directly from the IRS during the government freeze. But both Fannie Mae and Freddie Mac have said they would adjust policies as needed so that loans and modifications could continue to be approved. 

Source: “Freddie Mac guides lenders through government freeze,” HousingWire (Oct. 7, 2013)

Read More

NAR: What Does the Government Shutdown Mean to Housing?
Working With Your Clients During the Gov't Shutdown
Gov't Shutdown Pushes Mortgage Rates Down

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Robert De La Rosa

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9220 Haven Ave. Suite 100

Rancho Cucamonga Ca, 91730

BRE 01435824

Foreclosure Starts Cut in Half...

Foreclosure Starts Cut in Half

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  Little Time or Money to Get Creative This Halloween? Try a Costume Swap

  Halloween costume swaps turn last year’s cowboys into this year’s ninjas at no cost. Read

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Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

Buying, Selling, Investing Call Robert Direct 909.271.5640 NOW I can help!

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  7 Smart Strategies for Kitchen Remodeling

  Follow these 7 strategies to get the most financial gain on your kitchen remodel. Read

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Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

As Rates Fall, Loan Demand Rises Again

As Rates Fall, Loan Demand Rises Again

Homeowner Insurance Companies Want to Limit Your Roof Coverage...

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  (New!)

  Homeowner Insurance Companies Want to Limit Your Roof Coverage

  Roof damaged by hail? Your insurer may no longer pay to replace it. Read

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Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

Fraud Alerts How to protect yourself from ID theft...

Fraud Alerts How to protect yourself from ID theft A fraud alert is a warning to potential creditors that your personal identifying information has been compromised. This alert instructs potential creditors to take extra steps in verifying your identity before issuing new credit. Once you discover that someone has stolen your identity, you should immediately place an alert on your credit report. You can also use a fraud alert if you think you are an identity theft victim. Initial Fraud Alert An initial fraud alert is a warning placed on your credit report for 90 days. This alert entitles you to one free credit report from each credit-reporting bureau. Initial fraud alerts are typically used when you have reason to believe that you may become an identity theft victim. Extended Fraud Alert An extended fraud alert offers more protection than an initial alert because it lasts for seven years. This alert will remove your name from marketing lists for pre-approved credit card offers for five years. It also entitles you to two free credit reports from each credit bureau within 12 months. The extended alert is typically used for actual victims of identity theft. You must provide a copy of your police report to the credit bureau to receive this alert. Active Duty Alert An active duty alert is available for members of the military who are away in combat. Its purpose is to minimize ID theft by acting as a deterrent for potential creditors while you are away. This alert will remove your name from marketing lists for pre-approved credit card offers for two years. This alert lasts for one year, unless you request a shorter time period. How do I place an alert on my profile? You can get an alert by calling any of the three major credit bureaus. You only need to contact one agency. That agency will then notify the remaining two that they should place an alert on your profile. When you call the toll-free number, you will navigate through an automated phone system that will activate the alert. You will have to provide your social security number for verification purposes. You can contact any of the following credit bureaus: Equifax: 1-800-525-6285 Experian: 1-888-397-3742 TransUnion: 1-800-680-7289 Fraud alerts are free of charge. Getting your credit report After placing an alert on your credit report, you will receive confirmation letters from each credit bureau. Those letters will explain how to get your credit report. What should I do next? Once you receive your credit report, you should review it thoroughly. Be sure that all the accounts reported belong to you. What should I do if there are fraudulent accounts on my report? File an Identity Theft police report at your local police station. Contact the companies that issued the fraudulent credit and ask them to close the accounts.

Understanding Energy Ratings for Windows and Doors...

• 

  Understanding Energy Ratings for Windows and Doors

  Qualifying for the $200-$500 federal tax credit on new windows and doors depends on two measurements, U-factor and Solar Heat Gain Coefficient. Read

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Copyright 2013 NATIONAL ASSOCIATION OF REALTORS®

List of Improving Housing Markets Hits Record High...

DAILY REAL ESTATE NEWS | TUESDAY, SEPTEMBER 10, 2013

The number of housing markets listed as "improving" on the National Association of Home Builders/First American Improving Markets Index reached a record high this month of 291. The index, which started two years ago, gained 44 markets from August to September. 

The measure of improving housing markets had been declining for several months, but a change in the method to compile the index's data may partially explain this month's rise.  

"The dramatic increase in markets qualifying for the [improving market index] in September was partly due to a recent improvement in the way that Freddie Mac measures home prices, which resulted in stronger gains than previously reported," says NAHB chief economist David Crowe. "Even so, the broadened list of metros on the [index] continues to demonstrate the slow but steady gains that individual housing markets are making to bolster the national outlook."

NAHB Chairman Rick Judson says slightly more than 80 percent of the 361 metros tracked by the index have shown consistent growth in three key measures for at least six consecutive months: housing permits, employment, and home prices.

"While there is still plenty of room for growth, this is an excellent indication of how the housing recovery has begun to take hold across more geographic areas,” Judson says.

Among some of the metros added to the list in September were Macon, Ga.; St. Cloud, Minn.; Brownsville, Texas; Spokane, Wash.; and Milwaukee. All 50 states have at least one metro on the list.

Source: National Association of Home Builders

Realtor / Notary / E-Pro

Robert De La Rosa

http://www.CaliforniaPropertyConnection.net
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Realty Executives Experts
9220 Haven Ave
Rancho Cucamonga Ca, 91730
Direct 909.271.5640 
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Investor Demand Starts to Cool - CaliforniaPropertyConnection

Investor Demand Starts to Cool

Investor Demand Starts to Cool

DAILY REAL ESTATE NEWS | MONDAY, SEPTEMBER 09, 2013

The proportion of investors involved in the housing market has fallen in the last few months. As their numbers dwindle, it may allow other buyers to step in, according to housing experts. 

Investors have gone from accounting for 23 percent of home purchases in February to about 20 percent in June—the lowest level since September 2012, according to data from Campbell/Inside Mortgage Finance survey. 

Their numbers will likely decrease even more in the coming year. About 48 percent of investors recently surveyed say they plan to lessen their home purchases over the next year, according to a recent survey by ORC International. Only 20 percent of the investors surveyed say they plan to buy more homes in the next year, a drop from 39 percent 10 months earlier. 

"Investors helped stabilize a housing market that was in free-fall and they did so by taking advantage of fire-sale home prices," says Michael Feroli, chief U.S. economist at JPMorgan Chase & Co. "Now you see few fewer bargain prices in the market and that's a reason investor demand is coming off its peak."

In recent years, many buyers—particularly first-time home buyers—may have lost out to investors’ all-cash offers on homes. Banks and sellers may have been lured by the idea of a quick deal that cash offers typically provide over offers from buyers who require financing. But with less competition from investors, some housing experts say this may allow an opportunity for other potential buyers to get into the market.  

Source: “Analysis: Waning investor demand opens door for first-time U.S. home buyers,” Reuters (Sept. 6, 2013)

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I have Pre-qualified buyers currently looking for a home in the City of Ontario please contact me Realtor Robert De La Rosa @909.271.5640 to see if your home fits my buyers needs for a complimentary home evaluation contact me now, I can get TOP DOLLAR for your home...

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