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Performance Mortgage

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Performance Mortgage

PERFORMANCE MORTGAGE

markglouner@gmail.com

661 406-5629

DRE #01299857 NMLS ID 260877

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by Performance Mortgage

February 27, 2018


by Keeping Current MattersPeople often ask if now is a good time to buy a home, but nobody ever asks when it’s a good time to rent. Regardless, we want to make certain that everyone understands that today is NOT a good time to rent.The Census Bureau recently released their 2017 fourth quarter median rent numbers. Here is a graph showing rent increases from 1988 until today:As you can see, rents have steadily increased and are showing no signs of slowing down. If you are faced with making the decision of whether or not you should renew your lease, you might be pleasantly surprised at your ability to buy a home of your own instead.Bottom LineOne way to protect yourself from rising rents is to lock in your housing expense by buying a home. If you are ready and willing to buy, meet with a local real estate . . .

January 25, 2018

By The KCM CrewDefinitely an aggressive headline. However, as the final data on the 2017 housing market rolls in, we can definitely say one thing: If you are considering selling, IT IS TIME TO LIST YOUR HOME!How did we finish 2017?New-home sales were at their highest level in a decade.Sales of previously owned homes were at their highest level in more than a decade.Starts of single-family homes were their strongest in a decade and applications to build such properties advanced to the fastest pace since August 2007.And Bloomberg Business just reported:“America’s housing market is gearing up for a robust year ahead. Builders are more optimistic, demand is strong and lean inventory is keeping prices elevated.”And the National Association of Realtors revealed that buyer traffic is stronger this winter than it was during the spring buying season last . . .

December 11, 2017

According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase. A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand. CoreLogic’s Chief Economist Frank Nothaft elaborated on the significance of such a large year-over-year gain,  Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014. This escalation in home prices reflects both the acute lack of supply and the strengthening economy. This is great news for homeowners who . . .

December 11, 2017

According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase. A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand. CoreLogic’s Chief Economist Frank Nothaft elaborated on the significance of such a large year-over-year gain,  “Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014. This escalation in home prices reflects both the acute lack of supply and the strengthening economy.” This is great news for . . .

December 11, 2017

According to CoreLogic’s latest Home Price Index, national home prices have appreciated by 7.0% from October 2016 to October 2017. This marks the second month in a row with a 7.0% year-over-year increase. A lack of supply of homes for sale has led to upward pressure on home prices across the country, especially in areas where both existing and new home inventory have not kept up with buyer demand. CoreLogic’s Chief Economist Frank Nothaft elaborated on the significance of such a large year-over-year gain,  “Single-family residential sales and prices continued to heat up in October. On a year-over-year basis, home prices grew in excess of 6 percent for four consecutive months ending in October, the longest such streak since June 2014. This escalation in home prices reflects both the acute lack of supply and the strengthening economy.” This is great news for . . .

May 12, 2017

With housing prices appreciating at levels that far exceed historical norms, some are fearful that the market is heading for another bubble. To alleviate that fear, we just need to look back at the reasons that caused the bubble ten years ago. Last decade, demand for housing was artificially propped up because mortgage lending standards were way too lenient. People that were not qualified to purchase were able to attain a mortgage anyway. Prices began to skyrocket. This increase in demand caused homebuilders in many markets to overbuild. Eventually, the excess in new construction and the flooding of the market with distressed properties (foreclosures & short sales), caused by the lack of appropriate lending standards, led to the housing crash. Where we are today… 1. If we look at lending standards based on the Mortgage Credit Availability Index released monthly by the . . .

April 05, 2017

by The KCM Crew on April 5, 2017 in First Time Home Buyers, For Buyers, For Sellers, Housing Market Updates, Move-Up Buyers
Traditionally, spring is the busiest season for real estate. Buyers come out in force and homeowners list their houses for sale hoping to capitalize on buyer activity. This year will be no different! Buyers have already been out in force looking for their dream homes and more are on their way, but the challenge is that the inventory of homes for sale has not kept up with demand, which has lead to A LOT of competition for the homes that are available. A recent Bloomberg article touched on the current market conditions: “It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are . . .

March 27, 2017

by The KCM Crew on March 22, 2017 in First Time Home Buyers, For Buyers, Housing Market Updates, Interest Rates, Move-Up Buyers
Mortgage interest rates have risen over the last few months and projections are that they will continue their upswing throughout 2017. What impact will this have on the housing market? Here is what the experts are saying: Laurie Goodman, Co-director of the Urban Institute’s Housing Finance Policy Center: “In 1984, 1994, 2000, and 2013, every time we have rate increases, we have increases in nominal home prices. We expect this to be more pronounced, as there is a big demand-and-supply gap at the present time.” Scott Anderson, Chief Economist for Bank of the West: “The tightening labor market, rising wage growth, high levels of consumer confidence and a millennial generation with a pent-up demand for . . .

February 24, 2017

by The KCM Crew on February 23rd, 2017The National Association of Realtors recently released a study titled 'Social Benefits of Homeownership and Stable Housing.’ The study confirmed a long-standing belief of most Americans:Owning a home embodies the promise of individual autonomy and is the aspiration of most American households. Homeownership allows households to accumulate wealth and social status, and is the basis for a number of positive social, economic, family and civic outcomes.Today, we want to cover the section of the report that quoted several studies concentrating on the impact homeownership has on the health of family members. Here are some of the major findings on this issue revealed in the report:There is a strong positive relationship between living in poor housing and a range of health problems, including respiratory conditions such as . . .

February 13, 2017

A recent study of more than 7 million home sales over the past four years revealed that the season in which a home is listed may be able to shed some light on the likelihood that the home will sell for more than asking price, as well as how quickly the sale will close. It’s no surprise that listing a home for sale during the spring saw the largest return, as the spring is traditionally the busiest season for real estate. What is surprising, though, is that listing during the winter came in second! Among spring listings, 18.7 percent of homes fetched above asking, with winter listings not far behind at 17.5 percent. While 48.0 percent of homes listed in spring sold within 30 days, 46.2 percent of homes in winter did the same. The study goes on to say that: Buyers [in the winter] often need to move, so they’re much less likely to make a lowball offer and they’ll often . . .
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