Fremont Real Estate and Beyond

The California Association of Realtors just created a website to let consumers know about laws and legislation that may impact them. You can find it here-- http://homeownerfacts.org/

I know, the voice is really cheesy, but the info is important.

 A really interesting article came out on MarketWatch.com regarding what keeps Millenials from owning a home.  Carrington home loans asked, "What keeps you from buying a home?" and they sorted the responses by category, and then broke them out by region in the United States.   More on this article is here-- http://www.marketwatch.com/story/millennials-in-texas-and-in-california-reject-home-ownership-for-vastly-different-reasons-2015-05-28?siteid=yhoof2

Yes, I know it's almost June.  Case-Schiller just released their March data on the major cities. Data released for the March S&P/Case-Shiller Home Price Indices show that both the 10-City and 20-City Composites experienced year-over-year increases in March. The 10-City composite gained 4.7 percent year over year, while the 20-City Composite gained 5 percent year over year. The S&P/Case-Shiller U.S. National Home Price Index recorded a 4.1 percent annual gain in March compared with a 4.2 percent increase in February. San Francisco and Denver reported the highest year-over-year gains, with price increases of 10.3 percent and 10 percent, respectively, over the last 12 months. San Francisco's 10.3 percent annual gain is its first double digit year-over-year increase since July 2014. More data is here-- https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/185742_cshomeprice-release-0526.pdf?force_download=true

Compared to borrowers with $400,000 home loans, borrowers with loans of $100,000 pay 10 percent more for every dollar borrowed due to higher interest rates and fees. Additionally, borrowers with small loan amounts have substantially fewer lenders willing to lend them money, according to an analysis of loan requests and quotes on Zillow Mortgages. More than one-quarter of all U.S. homes would have a mortgage of $100,000 or less if 20 percent were put down on the home. All things being equal, including credit score and loan-to-value ratios, borrowers with small loan amounts were offered more expensive loans compared to borrowers with high loans amounts. The average interest rate offered on a $100,000 home loan in the first quarter of 2015 was 3.95 percent with an APR of 4.06 percent. The average interest rate offered on a $400,000 home loan during the same period was 3.64 percent with an APR of 3.7 percent. The larger the difference between the interest rate and the APR,

Summer is right around the corner and people are looking for rentals for either living or vacation.  The Federal Trade Commission recently issued a reminder for consumers to be on the lookout for rental scams. According to the FTC report, scammers know that finding the right apartment or vacation rental can be hard work, and a seemingly good deal is hard to pass up. They’ve been known to game some vacation rental websites and bulletin boards. The take-away: when looking for a rental, it’s renter beware. The reminder included some common scams that have been reported to them by consumers and real estate agents, including: Hijacked Ads: Some scammers hijack a real rental or real estate listing by changing the email address or other contact information, and placing the modified ad on another site. Phantom Rentals: Other rip-off artists make up listings for places that aren’t for rent or don’t exist, and try to lure the renter in with the promise of low rent, or great ameniti

The National Association of Realtors just released their data on existing home sales for the month of April.  Nationally, it was down 3.3%, citing lack of inventory. More information here-- http://www.realtor.org/news-releases/2015/05/existing-home-sales-lose-momentum-in-april

An interesting article from the LA Times came up about HOAs trying to get top repayment priority post foreclosure of a property.  This can't happen in California (phew!) but if it ever did, it would make financing condos/townhomes/PUDs, and other properties with HOAs extremely difficult. http://www.latimes.com/business/la-fi-harney-20150513-story.html#navtype=outfit

For a lot of home buyers, this graph is nothing new, but it is interesting to see it in a graph and how each county is faring. http://apps2.car.org/socialblogs/2015/05/spring-season-heating-up-but-with-caveats/

The California Youth Energy Services is offering no-cost "Green House Calls" to Fremont residents as well as those in other cities. More info here-- http://www.risingsunenergy.org/content/greencall.html Your CYES Green House Call with our friendly and professional youth Energy Specialists will consist of: A walk through of the house with the client; looking for energy saving opportunities Replacing all incandescent bulbs with FREE energy-saving compact fluorescent versions (which use about a 1/4 of the energy!) Installing FREE high-efficiency faucet aerators and showerheads (all the pressure without the water waste!) Inspecting all toilets for efficiency and leaks Checking the attic insulation of the home Installing a FREE retractable clothesline to reduce dryer use or a FREE power strip to reduce phantom load from electronic devices Installing FREE hot water pipe insulation Providing energy and water conservation education Emailing a customized repor

A really interesting article from OZY was showcased in NPR's News Hour last Friday about mobile homes and the land they sit on.  Quite a few mobile homes are around the Bay Area and it's really surprising who lives there.  

The National Association of Realtors just released their national map of inequality.  You can get more info here-- http://economistsoutlook.blogs.realtor.org/2015/05/07/widening-wealth-inequality-at-the-local-level/

HUD has announced it will be revising its auctions of non-performing mortgages to address concerns it's not doing enough to help neighborhoods affected by foreclosures. The most important aspect is that after winning a bid, buyers will be barred from seizing properties for at least a year. More details can be found here-- http://www.bloomberg.com/news/articles/2015-04-24/hud-to-delay-foreclosures-in-loan-sale-changes-to-aid-homeowners