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This is your November Southern California Real Estate Market Update and the hottest topic this month is…

HOUSING MARKET RECOVERY INDEX!

Recovery is based on demand, supply, price and time on market. When Covid struck our country in March, our index was just above 106. We take a sharp dive to 83 points in May and have been climbing up ever since. In fact, the US real estate housing market has officially passed pre Covid levels.

Another thing that we will discuss is…

UNEMPLOYMENT!

According to the Bureau of Labor Statistics, unemployment has continued to go down and as of September unemployment has fallen to 7.9%.

We will also discuss…

FORECLOSURES

As of the end of September, the US had roughly 3.59 million active forbearances. That is roughly 100,000 less than the week prior and it has been dropping consistently since May.

I hope you enjoyed your November 2020 Southern California Real Estate Market Update from your favorite SoCal Realtor, Nahed Benyamein!

Lastly, we explore…

PRICES AND INVENTORY

Today, across the country we have less than 6 months inventory and in many Southern California counties our inventory sits at just around 2 months.

Please let me know what your thoughts below: What are your predictions for the housing market in 2020? After watching this video has your forecast changed or do you think buying/selling now is a good time?

As always thank you for listening and please like, share and subscribe!

This is your October Southern California Real Estate Market Update and the hottest topic this month is…

UNEMPLOYMENT!

At the end of August, the Bureau of Labor Statistics released a report showing that unemployment dropped to 8.4%! This is the lowest unemployment has been in the last 5 months. In fact, unemployment was at nearly 15% back in April when Covid had hit our economy the worst. Although there was a slight change in the underlying methodology which makes comparisons to the previous few months difficult, this marks significant ongoing progress, nonetheless!

Another thing that we discuss is…

INTEREST RATES!

According to Fannie Mae, a 30-year fixed-rate mortgage was 2.94% in the month of August. Rates remain near historic lows and this continues to drive demand for housing. I got into this business in 1988 and at that time interest rates were above 10%! If we just look back to 2018, interest rates were nearly 5%!

We also discuss…


HOME PRICES IN LOS ANGELES,
INVENTORY IN ORANGE COUNTY
WHAT IS HAPPENING WITH HOME VALUES IN SAN BERNARDINO
FORECLOSURES

I hope you enjoyed this October 2020 Southern California Real Estate Market Update from your favorite SoCal Realtor, Nahed Benyamein!

This is your September Southern California Real Estate Market Update. What is happening with unemployment? How is that effecting foreclosures and home prices? What is really happening with real estate in Southern California and the state overall?

In this video I talk about the latest real estate news as well as share my insights regarding the housing market in 2020. We will go over what is happening with unemployment as well as what the experts are saying is going to happen to the economy as we approach the 4th quarter.

Finally, tune in as I go over home prices, home price projections and record level home purchase applications levels!

Please let me know your thoughts below: what is your housing market forecast? Will real estate 2020 continue to surge or are we destined for a housing crash (housing market crash)? Also, have you taken advantage of record low interest rates by doing a mortgage refinance yet?

Recorded August 21, 2020 Listen in on how Nahed goes over the  3 main components to buy a home; CREDIT, INCOME, and DOWNPAYMENT!

do i need a perfect credit score to buy a house?  Are people telling you that you need perfect credit to buy a house? Did you know that some first time home buyer programs only require a 620 credit score! In this webinar we will share credit requirements for CALHFA, FHA, and Conventional loans. Listen in as we share tips and tricks on how to raise your credit score with simple steps such as being added as an authorized user.  can i buy a home if i changed jobs?  Haven’t been at your job for 2 years? Has someone told you that you need to be with the same employer for consecutive years  in order to buy a house? WRONG! Register below to hear how you can become a homeowner even with a job change! Join us as we cover different employment scenarios and how some people have been able to buy with just 1 year tax history!  How much do i need for a DOWNPAYMENT?  From as little as just 2% down to paying all cash for a home, you won’t want to miss how we explain the positives and negatives of each downpayment option. CALHFA, FHA, VA, Conventional, and Jumbo financing are just some of the alternatives that she covers!

Credit-7 min 30 sec - 10 min 52 sec

Income -- 10 min 55sec - 14 min

Down Payments -- 14 min 5 sec - 17 min 20 sec

Interest Rates -- 17 min 30 sec - 18 min 16 sec

Market News -- 18 min 55 sec - 24 min 23 sec

This is your August Southern California Real Estate Market Update and the hottest topic this month is…  

FORECLOSURES! 

 Many people are projecting for us to see foreclosures everywhere just like we did in 2008. I want to show you why many experts do not believe that this will be the case. According to the company Black Knight, of all the active forbearances which are past due, 77% of them have at least 20% equity in their home! That is the opposite of what the market was like in the crash of 2008 because at that time many people had no skin in the game because they had none of their own money in their house!  Another thing that we will discuss is…  

HOME SALES!  

 Did you know that more than 370,000 homes were sold in the month of June! That is a boat load of homes!   In fact, according to the California Association of Realtors, more than 330,000 single family homes were sold in June. That is 42% higher than the amount of homes sold in May! C.A.R also reported that June recorded a record high medium home price of over $626,000! That is 6.5 % higher than home prices in May!   We will also discuss…  

MORTGAGE APPLICATIONS!  

Mortgage applications have hit an 11 year high! According to Freddie Mac, mortgage rates were on average 3.16% in the month of June. That is showing in the amount of offers home are receiving!  I hope you enjoyed this August 2020 Southern California Real Estate Market Update from your favorite SoCal Realtor, Nahed Benyamein!  

Please let me know what your thoughts are: What are your predictions for the housing market in 2020? After listening to this podcast has your forecast changed or do you think buying/selling now is a good time?