Record-setting home prices for second straight month in May
Lower mortgage rates helped the housing market in May, as home sales topped 400,000 units for the first time in 10 months.
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CHN Blog
High home prices are bad medicine for RNs looking to buy
Registered nurses in California enjoy big paychecks, but they’re often not enough to become a homeowner. Also, home flipping profits tumble and equity gains stumble.
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Black, Hispanic homeowners suffered the most from foreclosures, housing collapse
A larger percentage of blacks and Hispanics had their homes foreclosed on during the housing meltdown, and the discrepancy could have a long-lasting effect on their personal wealth.
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Big city, small apartments to follow 30% housing guideline
Big cities in California often come with huge rents. The best option to curb housing costs is to choose smaller apartments. Also, millennials are buying … in Bakersfield.
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Will IPOs give Bay Area rents a Lyft?
Newly minted millionaires, thanks to IPOs from Uber, Lyft, Airbnb and Pinterest, could greatly affect rents in San Francisco. Also, buying a home to rent may not be the best idea, at least in California.
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CAR: Rent-to-owners? 826,000 renters could buy
Many renters in California could become homeowners, but ‘misconceptions’ are a major obstacle. Also, home equity gains slow and home-flipping profits slide.
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Mortgage rates
Long-term mortgage rates remained steady for the period ending June 20, and consumers are responding with a hefty increase in mortgage applications in recent weeks.
30-year: 3.84% vs. 3.82% a week ago
15-year: 3.25% vs. 3.26% a week ago
Source: Freddie Mac
News
Record-setting home prices for second straight month in May
Lower mortgage rates helped the housing market in May, as home sales topped 400,000 units for the first time in 10 months.
Read More
Sales dip, prices reach new record in April
April home sales decline despite a boost in listings and lower mortgage rates, but prices climb to a record causing many would-be buyers to hold off.
Read More
Q1 home affordability improves to highest level in a year
Almost one of every three households could afford to buy the median-priced home during the fourth quarter, thanks to lower mortgage rates and stable prices.
Read MoreMust-reads from the web
Bloomberg BusinessWeek: Home flipping gains are slowing
The home-flipping craze has been, well, crazy in recent years, thanks to HGTV. But those head-turning gains are becoming more like head-hanging losses.
Bloomberg BusinessWeek: More Californians are leaving for Boise, Reno
Affordability and politics, in some cases, are causing more Californians to leave the Golden State for Boise, Reno and other cities in the West.
Bloomberg BusinessWeek: Zillow wants to buy (and) flip your house, for a fee
Online real estate giant Zillow is buying homes in several markets nationwide, with the goal of making minor fixes that generate nifty profits.
Knowledge
REX gets $45 million, expands AI and big data real estate listings in California
Company's 2% commission model takes on the traditional real estate industry, where Multiple Listing Service holds the key to buying -- and selling.
Resources
$1.5M in fees, taxes waived for mobile home owners
A new state program will help mobile home owners to get the proper registration and title for their property and have fees and taxes waived, saving them hundreds or even thousands of dollars.
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