santa maria real estate

sudoadmin
février 27, 2020

PLUNGING INTEREST RATES COULD HELP BUYERS ON THE FENCE

Hypothèque rates are falling fast, and they could sink even lower reports Hypothèque News Daily. The 30-year fixed-rate mortgage now averages 3.34%, a rate last reached in 2012 and briefly in 2016. That is for borrowers with strong financials and credit scores.

As coronavirus fears hit financial markets, U.S. bond yields are tanking, pushing mortgage rates that loosely follow the 10-year Treasury yield toward an eight-year low. They could sink even lower.

“When rates fall this quickly, it’s not so much that big banks draw the line on mortgage rates, but rather, the underlying mortgage backed securities market refuses to improve as quickly as the Treasury market,” Matthew Graham, chief operating officer at Hypothèque News Daily, explained to CNBC. Mortgages become less valuable to investors if they get paid off too quickly.”

And those payoffs, or refinances, are surging right now. Applications to refinance a home loan are up around 165% annually, according to the Hypothèque Bankers Association.

Hypothèque applications to purchase a home have not been as strong, due to the severe shortage of homes for sale. Builders, however, may be getting a boost, especially those putting up more affordable homes.

GOOD NEWS FOR ENTRY-LEVEL BUYERS

Falling rates help loosen up a tight market. When rates rise, homeowners are more likely to stay put because they don’t want to take on bigger mortgages. But when loan costs fall, buyers on the fence get motivated to trade up. And that frees up entry-level homes for eager first-timers.

People shopping for homes will likely see lower rates in the coming weeks as the 10- year hits new lows, according to Bankrate.com. For existing mortgage borrowers, another drop in rates might clear the path for refinancing.

“The refinancing door has blown open with mortgage rates continuing to fall amid fears of slower global economic growth,” Greg McBride, CFA, Bankrate chief financial analyst says. “This helps those looking to refinance a mortgage as well as would-be homebuyers .”

BUYERS TRADE UP

If you are ready to buy the downturn interest rates can be a big win. One result of falling borrowing costs is that buyers are able to afford bigger mortgages. Those seeking pricier properties are acting now because their choices are increasing, and profits from selling their current home can fund the down payment on the next one.

To take full advantage of lower interest rates, the key is to be prepared. Be sure to choose the right Real Estate Professional to make sure all the details of a transaction are complete. Make sure to have your pay stubs, tax returns, bank statements, and other necessary documents together so there is no delay in processing. Delays could be costly when there is no guarantee how long low interest rates will last.

Whether you are looking to buy or sell, C21 Hometown Realty’s Agents have the most homes listed and the most homes sold! Visit one of the ten local offices throughout the Central Coast or click on c21home.com.

A propos de CENTURY 21 Hometown Realty – Hometown Realty is the leading real estate firm on the Central Coast of California with offices spanning Santa Barbara County and San Luis Obispo county offering expert agents and convenient locations.

Bysudoadmin
Onfévrier 27, 2020

sudoadmin
décembre 17, 2019

2020 VISION FOR REAL ESTATE IS LOOKING GOOD

Lower than expected interest rates kept real estate strong in 2019 and many experts predict 2020 will keep rolling in the same direction. According to a recent article in Forbes, Odeta Kushi, deputy chief economist at First American, shared that mortgage rates will remain low next year, between 3.7 and 3.9%, fueling a healthy real estate market.

PRICES TO KEEP RISING

Tight inventory and increased demand will keep pushing prices higher. In fact, with mortgage rates either staying the same or actually dropping, competition will increase for buyers which may result in bidding wars. Redfin predicts one in four homes will result in a bidding war which is great news for home sellers who may have been holding out when most homes prices dropped slightly on the Central Coast over the past year. The Forbes article shared data from CoreLogic, stating home prices should tick up by 5.6% by next September which is more than 3.5% from this year.

ECONOMIC GROWTH, NOT A RECESSION

Although many economists have predicted a mild recession in 2020, a housingwire.- com report states, “Current conditions point to a recipe for continued economic growth, not a recession. Growth itself may be slower than the strong pace we’ve seen at times throughout the recovery, but growth will still occur for at least the next year.” Reasons cited for the economic growth are a healthy consumer confidence and job growth.

HOME SIZES WILL SHRINK, BUT AMENITIES ARE KING

Inventory will continue to be tight as Millennials and Generation Z enter the market, but Baby Boomers are not budging from their long-time homes. Zillow predicts that new home sizes will shrink for the fourth time of five years due to younger buyers having less money and can’t afford to purchase larger homes. To make up for square footage, many new homes are offering upgraded amenities to attract buyers.

Whether you are looking to buy or sell in the new year, experts agree you should enter the real estate market early in 2020 to take full advantage of the growing market. As the #1 broker on the Central Coast, C21 Hometown Realty’s Agents have the most homes listed and the most homes sold! Visit one of the ten local offices throughout the Central Coast or click on c21home.com.

Bysudoadmin
Ondécembre 17, 2019

sudoadmin
juillet 10, 2019

BUYING BEFORE THE SCHOOL BELL RINGS

Just because summer is here does not mean it’s too late to get in before the school year begins. It does mean time is of the essence to find the perfect family home and get your kids enrolled in a great school!

RIGHT SCHOOL

Buying the right home is more than square footage and amenities, for many young families it’s also about being in the right school zone. At C21 Hometown we understand the importance of knowing what ’s going on in a Community. That’s why at C21Accueil.com, we offer Climate, Culture, Market, Lifestyle and School information for every Community we serve. Most Central Coast schools boast above-average rankings for California.

To find out how specific schools are ranked, check out:
San Luis Obispo County: https://school-ratings.com/counties/San_Luis_Obispo.html
Santa Barbara County: https://school-ratings.com/counties/Santa_Barbara.html

MARKET IS HOT

Whether you’ve been looking and may have lost out to multiple offers or have been holding out to avoid the Spring Frenzy, now’s a great time to buy. Many new homes have been added to the inventory pool in recent weeks and prices are slightly lower than last year’s summer season according to the California Association of Realtors.

THIS WEEKEND

A typical time period from offer to closing is 30-45 days, assuming no issues come up with the mortgage and title process. So let our C21 Hometown Agents find you and your family the perfect home so you can start the school year off right!

Bysudoadmin
Onjuillet 10, 2019

sudoadmin
mai 20, 2019

Should you buy a second home? Predictions for the 2019 market.

In view of the healthy economy, you may be thinking of buying a second home as a vacation getaway, as housing for family members or as an investment property.
That could reap great benefits, but you should only proceed with insight into this year’s secondary home market.

A few predictions from real estate specialists:

In general you can expect a buyer’s market, according to Bloomberg.

Costs may be attractive in vacation areas, where prices grew only 14.8 percent in the past three years compared to 25.2 percent in non-vacation areas. Another report notes vacation markets have underperformed the overall market every year but one since 2010 (except in the Midwest, where they’re now slightly overperforming). Factors in the downward slope may include everything from climate change to demographics to Trump’s tax reforms.

Because interest rates may rise this year, buyers may wish to act soon, anticipating slightly higher loan rates for secondary homes.

Bysudoadmin
Onmai 20, 2019

sudoadmin
février 5, 2013

Century 21 Hometown Realty – Smarter Bolder Faster

Century 21 Hometown Realty is among the only central coast real estate companies that leverage television advertising as part of our marketing mix to support home ownership on the central coast. This month, we ran three ads during the superbowl. We hope that you saw them all. Each of them were created to drive consumers to the number 1 destination on the central coast for property information – c21home.com. Thanks for visiting and please enjoy this short promotional video.

Bysudoadmin
Onfévrier 5, 2013

sudoadmin
août 23, 2012

We need more listings

Our company has grown from 100 agents to more than 300 over the past few years. You have probably see more Century 21 Hometown Yard Signs than any other local company. We have had to open offices in nearly every town on the central coast to support the growth. Century 21 Hometown Realty is currently working with more than 850 buyers company wide. There are only 994 listings available – which means that there is only about a month of inventory available. Please contact one of our offices or agents today if you can refer us to anyone looking to sell their home.

Specifically, we are looking for homes with the following criteria

South County San Luis Obispo: 3 bedroom price from 300,000 to 550,000.

San Luis Obispo: Any property that can be rented. We have investors looking for rental units to fill demand for rental housing.

Atascadero and Paso Robles: Land suitable for new home building.

Santa Maria: Condos, Duplexes, or 2 bedroom starter homes.

Arroyo Grande or Edna Valley: Luxury Homes – 3500 to 6000 sq ft or lots suitable for new homes.

Feel free to pass this along to anyone you know who may have an interest in selling their home.

Bysudoadmin
Onaoût 23, 2012

sudoadmin
avril 27, 2012

Rent Vs. Buy

Americans’ Expectations Align to Encourage Accueil Buying

More consumers may be looking to purchase homes with a shift in several key housing market indicators, according to Fannie Mae’s March 2012 consumer attitudinal National Housing Survey. More Americans now expect both home rental and home purchase prices to increase over the next year.

Nearly half of consumers expect higher rental prices, the highest number recorded since monthly tracking began in June 2010.
Thirty-three percent expect home prices to increase, up 5 percentage points since last month, and the highest percentage recorded in over a year.

In addition, confidence in consumers’ views of their own finances is stabilizing—for three straight months—44 percent believe their personal finances will get better over the next year. These trends may be providing Americans with an increased sense of urgency to buy a home as 73 percent of Americans now believe it is a good time to buy a home, up from seventy percent in February.

“Conditions are coming together to encourage people to want to buy homes,” says Doug Duncan, vice president and chief economist of Fannie Mae. “Americans’ rental price expectations for the next year continue to rise, reaching their record high level for our survey this month. With an increasing share of consumers expecting higher mortgage rates and home prices over the next 12 months, some may feel that renting is becoming more costly and that homeownership is a more compelling housing choice.”
Homeownership and Renting
Thirty-three percent of respondents expect home prices to increase over the next 12 months, a five percentage point increase from last month, the highest level over the past 12 months.

The survey shows that on average, Americans expect home prices to increase by 0.9 percent over the next 12 months (up slightly since last month).

Additionally, 39 percent of Americans say that mortgage rates will go up in the next 12 months, a five percentage point increase from last month.

The percentage of respondents who say it is a good time to buy rose by three points to 73 percent, the highest level in over a year, while the percentage of respondents who say it is a good time to sell rose one point to 14 percent this month.

On average, respondents expect home rental prices to increase by 4.1 percent over the next 12 months, a significant increase since February, and the highest number recorded to date.

Forty-eight percent of respondents think that home rental prices will go up, a three percentage point increase from last month and the highest number recorded to date.

Sixty-six percent of respondents say they would buy their next home if they were going to move, up one point since last month, while thirty percent say they would rent, up one point versus last month.

The Economy and Household Finances
The rise in confidence in the economy’s direction leveled this month, with 35 percent responding that they think the economy is on the right track, consistent with February’s total. The percentage who say the economy is on the wrong track rose slightly from 57 percent to 58 percent.

Only 12 percent think that their personal financial situation will worsen in the next 12 months, consistent with February as the lowest value in over a year, and tied with January 2011 for the lowest to date.

Twenty-one percent of respondents say their income is significantly higher than it was 12 months ago, up 1 point versus February, while 63 percent say it has stayed the same – consistent with February’s values

Thirty-four percent say their expenses have increased significantly over the past 12 months (a slight increase of one percentage point).

Bysudoadmin
Onavril 27, 2012