Any time your credit report is reviewed, a credit inquiry is automatically added to your report. Your personal credit report lists all these inquiries for two years. There are two main types of credit inquiries: a hard inquiry, also called a hard pull, and a soft inquiry or soft pull. There are also personal credit […]
2018 began with very high prices, at historical lows for interest rates, and in a seller’s market. That’s shifted in the last few months, with price growth dwindling, high interest rates, and the beginnings of a buyer’s market. Here’s what a few experts are predicting that means for 2019. Aaron Terrazas, Zillow’s director of economic […]
The US plan to start a trade war with China is bad news, predict economists and management experts at UCLA. This year saw a GDP growth of 3%, which President Trump optimistically expects to rise by 4-6% going forward. According to the experts, though, over the next two years, the rate is expected to drop […]
Four new California laws will be taking effect soon aimed at helping homeowners to find and take advantage of homeowner’s insurance: Under AB 1875, the Department of Insurance will need to provide an online searchable database of insurance agents and brokers, which will be called the California Home Insurance Finder. It is to be updated […]
Due to home prices having increased faster than wages, homeowners right now don’t feel that they’re in a position to sell to buyers who can’t afford their homes. So instead, they’re preparing to sell in the future, with renovations, maintenance, and additions. As of October, expenditure on such investments to one’s existing home increased by […]
Beginning in 2019, Fannie Mae and Freddie Mac will increase their conforming loan limit by 6.9%, matching the percentage increase in average home values nationwide. In most of the country, the limit will be $484,350, higher in more expensive areas. Besides conforming loans, there are also jumbo loans — those that do not conform to this […]
Currently, people age 50 or older account for 63% of homeowners nationwide. Three quarters of them live in single-family homes and 76% own their own homes. Increases in both population and longevity mean that the percent of homeowners in their 70s, 80s, and 90s is increasing. Trends among those over 65 reveal some of the […]
According to the California Association of Realtors (CAR), in the third quarter of 2018 just 27% households in California would be able to afford a median priced home at $588,530, requiring an annual income of at least $125,540. While this is up 1% from second quarter, it’s down 1% from the same time last year. The percent […]
Balconies provide the outdoor space and fresh air so desired in residences and offices alike. They can be deadly, though, if not properly built and maintained. Even if no one gets hurt, preventing safety hazards can cost less in the long run than repairing damages. California Governor Jerry Brown signed two bills in September aimed […]
Real Estate Investment Trusts (REITs) in Washington, D.C. have taken a look at the market and decided this is the year to sell. There are billions of dollars in property assets owned by REITs in the region, and they have noted the high sale prices, and especially that they’re predicted to be going down soon. […]