Simi Valley Short Sale Specialist

Simi Valley Short Sale Specialist

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Posted in Buying Short Sales In Simi Valley, Principal Reduction Help, Real Estate, Short Sale, Simi Valley Home Price Updates, Simi Valley Short Sale Help, Simi Valley Short Sale Process, Simi Valley Short Sale Realtor, Simi Valley Short Sale Specialist, Stop Foreclosure Auction, Uncategorized, Ventura County Short Sale Help | Tagged , , , , , , , , , | Leave a comment

Market Snapshot from Chris Johnson for W Los Angeles Ave, Ventura CA, 93004

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#TimeToBuy #ChrisBJohnsonRealtor Are Ventura County Mortgage Rates Set To Rise…AGAIN?? #TimeToBuy

BY 

Real Estate Agent with Allison James Elite CA. BRE 01501699

https://www.simplifyingthemarket.com/en/videos/embed/97822-26df5ea08f8689012df0225866ae0bf1/ed720148

Despite escalating talk on tariffs, the Dow Jones Industrial and S&P 500 both hit all-time highs this week, sending bond yields higher as part of a month-long trend.

By Friday mid-morning, the Dow had topped 26,700 points, pushing the all-time mark higher after first hitting a new record on Thursday. This was the first new all-time high since January.

The latest improvement can be attributed to receding fears of a trade war. More tough talk on tariffs this week suggested to many investors that tariffs may be less harmful than originally thought, especially as the Trump Administration seemed to out-leverage China in the latest spat.

The Trump administration announced on Monday it would impose a 10 percent tariff on $200 billion worth of Chinese imports, which would rise to 25 percent by year-end. China retaliated Tuesday by announcing levies targeting over 5,000 American products worth $60 billion and to go into effect next week.

Many analysts now expect a deal between China and the U.S. may be on the table in the months ahead.

Meanwhile, continued economic expansion prompted investors to sell off bonds, which drove yields higher. The 10 Year Treasury, which is closely followed by mortgage rates, headed toward 3.1 percent, punctuating a month-long trend. We need to watch this carefully as the bond markets are approaching some technical trading levels that could push the 10 Year Treasury to 3.25 percent. Rising mortgage rates, with volatility mixed in, remains the forecast.

rates

This bond yield increase is happening for the following reasons:

  • Investors believe economic growth here and abroad is real. They’re buying equities because of real economic growth – not just inflation – and stabilization in emerging markets abroad.
  • Tariffs. While some analysts have predicted intensifying tariffs and trade wars between the U.S. and other developed economies will drive inflation higher, recent evidence shows it only has attributed about 6 bps to the move.
  • The Fed is closing in on another rate hike, and many investors believe they will increase rates twice by the end of the year. They also believe the long-term dot-plot map of projected rate hikes will increase. This would put a higher floor on interest rates.
  • Some of the move is also just tactical. The market had too much supply in 10 and 30-year Treasurys last week and needed to sell (don’t forget the Fed is selling Treasurys at a higher rate right now to support federal spending). Plus, corporate bond supply has been heavy, which weighs on rates. At the same time, large pensions funds have less appetite for bonds because of some tax policy change that expired last week. As a result they moved more funds into equities.
Housing and tariffs

Existing home sales for August were unchanged at 5.34 million, according to the monthly report released this week. This followed four months of declines, giving investors some optimism about the housing market. Home sales have been under stress due to several headwinds, including limited supply, higher costs and increased mortgage rates.

The National Association of Homebuilders this week came out with strong statements against President Trump’s trade policies. They claimed the latest round of planned tariffs on Chinese goods would increase housing costs and hurt affordability.

NAHB estimates 600 products, representing $10 billion in goods, in the latest list of products to face tariffs are related to the construction of new apartments and homes.

Trump is proposing a 10 percent tariff on $200 billion in Chinese goods, effective Sept. 24., with that rate to increase to 25 percent in January.

“President Trump’s decision to impose 10 percent tariffs on $200 billion worth of Chinese imports, including $10 billion of goods used by the residential construction sector, could have major ramifications for the housing industry,” NAHB Chairman Randy Noel said in a statement. “With housing costs on the rise, this action translates into a tax increase on housing… Further, this tax increase is coming on top of the current 20 percent tariffs on softwood lumber imports from Canada. The lumber tariffs have already added thousands of dollars to the price of a typical single-family home.”

Hurricane Florence

Finally, we’re beginning to understand the economic impact of Hurricane Florence, which brought so much destruction to the Carolinas.

Property damage and disruption from Hurricane Florence is expected to total $22 billion, according to a Moody’s estimate released this week. As flood damage continues to be uncovered, the total could rise.

Moody’s said Florence is among the 10 costliest hurricanes on record in the U.S.

While the damage and recovery is expected to have a minimal impact on national GDP, the lasting effects will be felt in the Carolinas for years. The amount of rebuilding is massive and labor shortages in construction already will likely slow some of the recovery.

Please keep our friends and neighbors who are recovering in your thoughts and prayers. It will be a long road for many communities.

mm

ABOUT THE AUTHOR:

GREG RICHARDSON – EVP OF CAPITAL MARKETS

Greg Richardson is Movement’s EVP of Capital Markets and a contributing author to the Movement Blog. His weekly market update is a must-read commentary on financial markets, the mortgage industry and interest rates. Greg is an industry veteran who knows how to read the financial tea leaves and make complex industry data easy for loan officers, real estate agents and homebuyers to understand.

Weekly Mortgage Rate Update

A rally in the stock market drew assets away from bonds this week, which was negative for mortgage rates. As a result, mortgage rates rose.

THIS WEEK’S RATE TREND IS UP

 

 

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Posted in Buying Moorpark Short Sales, Buying Short Sales In Simi Valley, Buying Ventura County Short Sales, Camarillo Short Sale Help, Foreclosure Help, Homes For Sale In Oxnard, Oxnard Real Estate, Condos and Townhomes For Sale In Oxnard, Homes For Sale In Ventura County, Ventura County Real Estate, Condos and Townhomes For Sale In Ventura County, #T, Loan Modification, Moorpark Short Sale, Moorpark Short Sale Help, Moorpark Short Sale Realtor, Moorpark Short Sale Specialist, Newbury Park Short Sale Help, Oxnard Homes For Sale, Oxnard Real Estate, Ventura County Homes For Sale, Ventura County Real Estate, Principal Reduction Help, Real Estate, Santa Rosa Valley Short Sale Help, Short Sale, Simi Valley Home Price Updates, Simi Valley Short Sale Help, Simi Valley Short Sale Process, Simi Valley Short Sale Realtor, Simi Valley Short Sale Specialist, Stop Foreclosure Auction, Thousand Oaks Homes For Sale, Thousand Oaks Short Sale Help, Thousand Oaks Short Sale Specialist, Uncategorized, Ventura County Short Sale Help, Westlake Village Short Sale Help | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

How Much Has Your Ventura County Home Increased in Value? #TimeToSell

BY 

Real Estate Agent with Allison James Elite CA. BRE 01501699

#SellYourHomeForMoreandPayLess #TimeToSell #ChrisBJohnsonRealtor #SellersPayZEROCommission #ListYourHome&PayNoCommission #BetterThanFSBO #5StarREALTOR®

Your home is probably the biggest asset you own. This is why you should hire a professional to guide youthrough all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sellhome. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve….

How Much Has Your Home Increased in Value? | MyKCM

Home values have risen dramatically over the last twelve months. In CoreLogic’s most recent Home Price Index Report, they revealed that national home prices have increased by 6.2% year-over-year.

CoreLogic broke down appreciation even further into four price ranges, giving us a more detailed view than if we had simply looked at the year-over-year increases in national median home price.

The chart below shows the four price ranges from the report, as well as each one’s year-over-year growth from July 2017 to July 2018 (the latest data available). 

How Much Has Your Home Increased in Value? | MyKCM

It is important to pay attention to how prices are changing in your local market. The location of your home is not the only factor which determines how much your home has appreciated over the course of the last year.

Lower-priced homes have appreciated at greater rates than homes at the upper ends of the spectrum due to demand from first-time home buyers and baby boomers looking to downsize.

Bottom Line

If you are planning to list your home for sale in today’s market, let’s get together to go over exactly what’s going on in your area and your price range.

About Me

My photo

Chris B. Johnson is a REALTOR® who Specializes in Short Sale and REO Transactions. Chris has been Certified as a California Association of Realtors HAFA Specialist, a National Association of Realtors Short Sale and Foreclosure Resource, Chris B Johnson Realtor is a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Default Advocate and Certified Pre-Foreclosure Specialist. With a full time staff dedicated to short sale negotiations and transactions, we have been successful with (almost) every short sale to date.  LinkedIn Pro    UpNest    What’s Your Home Worth?

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
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Posted in Buying Moorpark Short Sales, Buying Short Sales In Simi Valley, Buying Ventura County Short Sales, Camarillo Short Sale Help, Foreclosure Help, Homes For Sale In Oxnard, Oxnard Real Estate, Condos and Townhomes For Sale In Oxnard, Homes For Sale In Ventura County, Ventura County Real Estate, Condos and Townhomes For Sale In Ventura County, #T, Loan Modification, Moorpark Short Sale, Moorpark Short Sale Help, Moorpark Short Sale Realtor, Moorpark Short Sale Specialist, Newbury Park Short Sale Help, Oxnard Homes For Sale, Oxnard Real Estate, Ventura County Homes For Sale, Ventura County Real Estate, Principal Reduction Help, Real Estate, Santa Rosa Valley Short Sale Help, Short Sale, Simi Valley Home Price Updates, Simi Valley Short Sale Help, Simi Valley Short Sale Process, Simi Valley Short Sale Realtor, Simi Valley Short Sale Specialist, Stop Foreclosure Auction, Thousand Oaks Homes For Sale, Thousand Oaks Short Sale Help, Thousand Oaks Short Sale Specialist, Uncategorized, Ventura County Short Sale Help, Westlake Village Short Sale Help | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

#TimeToSell #ChrisBJohnsonRealtor

BY 

Real Estate Agent with Allison James Elite CA. BRE 01501699

#SellYourHomeForMoreandPayLess #TimeToSell #ChrisBJohnsonRealtor #SellersPayZEROCommission #ListYourHome&PayNoCommission #BetterThanFSBO #5StarREALTOR®

Your home is probably the biggest asset you own. This is why you should hire a professional to guide youthrough all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sellhome. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve……..

Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position.

Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up!

According to the latest Equity Report from ATTOM Data Solutions, “13.9 million U.S. properties in Q2 2018 were equity rich — where the combined estimated balance of loans secured by the property was 50 percent or less of the property’s estimated market value — representing 24.9% of all U.S. properties with a mortgage.”

This means that nearly a quarter of Americans who have a mortgage would be able to sell their homes and have a significant down payment toward their next home. Many who sell could also use their new-found equity to pay off high-interest credit cards or help children with tuition costs.

The map below shows the percentage of properties with a mortgage in each state that were equity rich in Q2 2018.

25% of Homes with a Mortgage are Now Equity Rich! | MyKCM

Bottom Line

If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let’s get together to discuss your options!

About Me

My photo

Chris B. Johnson is a REALTOR® who Specializes in Short Sale and REO Transactions. Chris has been Certified as a California Association of Realtors HAFA Specialist, a National Association of Realtors Short Sale and Foreclosure Resource, Chris B Johnson Realtor is a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Default Advocate and Certified Pre-Foreclosure Specialist. With a full time staff dedicated to short sale negotiations and transactions, we have been successful with (almost) every short sale to date.  LinkedIn Pro    UpNest    What’s Your Home Worth?

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
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Posted in Buying Moorpark Short Sales, Buying Short Sales In Simi Valley, Buying Ventura County Short Sales, Camarillo Short Sale Help, Foreclosure Help, Homes For Sale In Oxnard, Oxnard Real Estate, Condos and Townhomes For Sale In Oxnard, Homes For Sale In Ventura County, Ventura County Real Estate, Condos and Townhomes For Sale In Ventura County, #T, Loan Modification, Moorpark Short Sale, Moorpark Short Sale Help, Moorpark Short Sale Realtor, Moorpark Short Sale Specialist, Newbury Park Short Sale Help, Oxnard Homes For Sale, Oxnard Real Estate, Ventura County Homes For Sale, Ventura County Real Estate, Principal Reduction Help, Real Estate, Santa Rosa Valley Short Sale Help, Short Sale, Simi Valley Home Price Updates, Simi Valley Short Sale Help, Simi Valley Short Sale Process, Simi Valley Short Sale Realtor, Simi Valley Short Sale Specialist, Stop Foreclosure Auction, Thousand Oaks Homes For Sale, Thousand Oaks Short Sale Help, Thousand Oaks Short Sale Specialist, Uncategorized, Ventura County Short Sale Help, Westlake Village Short Sale Help | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , | 1 Comment

#TimeToBuy #ChrisBJohnsonRealtor Is the Ventura County Real Estate Market Finally Getting Back 2 Normal

BY 

Real Estate Agent with Allison James Elite CA. BRE 01501699

#SellYourHomeForMoreandPayLess #TimeToSell #ChrisBJohnsonRealtor #SellersPayZEROCommission #ListYourHome&PayNoCommission #BetterThanFSBO #5StarREALTOR®

Your home is probably the biggest asset you own. This is why you should hire a professional to guide youthrough all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sellhome. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve…..

Is the Real Estate Market Finally Getting Back to Normal? | MyKCM

The housing market has been anything but normal for the last eleven years. In a normal real estate market, home prices appreciate 3.7% annually. Below, however, are the price swings since 2007 according to the latest Home Price Expectation Survey:

After the bubble burst in June 2007, values depreciated 6.1% annually until February 2012. From March 2012 to today, the market has been recovering with values appreciating 6.2% annually.

These wild swings in values were caused by abnormal ratios between the available supply of inventory and buyer demand in the market. In a normal market, there would be a 6-month supply of housing inventory.

When the market hit its peak in 2007, homeowners and builders were trying to take advantage of a market that was fueled by an “irrational exuberance.”

Inventory levels grew to 7+ months. With that many homes available for sale, there weren’t enough buyers to satisfy the number of homeowners/builders trying to sell, so prices began to fall.

Then, foreclosures came to market. We eventually hit 11 months inventory which caused prices to crash until early 2012. By that time, inventory levels had fallen to 6.2 months and the market began its recovery.

Over the last five years, inventory levels have remained well below the 6-month supply needed for prices to continue to level off. As a result, home prices have increased over that time at percentages well above the appreciation levels seen in a more normal market. 

That was the past. What about the future?

We currently have about 4.5-months inventory. This means prices should continue to appreciate at above-normal levels which most experts believe will happen for the next year. However, two things have just occurred that are pointing to the fact that we may be returning to a more normal market.

1. Listing Supply is Increasing

Both existing and new construction inventory is on the rise. The latest Existing Home Sales Report from the National Association of Realtors revealed that inventory has increased over the last two months after thirty-seven consecutive months of declining inventory. At the same time, building permits are also increasing which means more new construction is about to come to market. 

2. Buyer Demand is Softening

Ivy Zelman, who is widely respected as an industry expert, reported in her latest ‘Z’ Report:

 “While we continue to expect a resumption of growth in resale transactions on the back of easing inventory in 2019 and 2020, our real-time view into the market through our Real Estate Broker Survey does suggest that buyers have grown more discerning of late and a level of “pause” has taken hold in many large housing markets.

Indicative of this, our broker contacts rated buyer demand at 69 on a 0- 100 scale, still above average but down from 74 last year and representing the largest year-over-year decline in the two-year history of our survey.”

With supply increasing and demand waning, we may soon be back to a more normal real estate market. We will no longer be in a buyers’ market (like 2007-February 2012) or a sellers’ market (like March 2012- Today).

Prices won’t appreciate at the levels we’ve seen recently, nor will they depreciate. It will be a balanced market where prices remain steady, where buyers will be better able to afford a home, and where sellers will more easily be able to move-up or move-down to a home that better suits their current lifestyles.

Bottom Line

Returning to a normal market is a good thing. However, after the zaniness of the last eleven years, it might feel strange. If you are going 85 miles per hour on a road with a 60 MPH speed limit and you see a police car ahead, you’re going to slow down quickly. But, after going 85 MPH, 60 MPH will feel like you’re crawling. It is the normal speed limit, yet, it will feel strange.

That’s what is about to happen in real estate. The housing market is not falling apart. We are just returning to a more normal market which, in the long run, will be much healthier for you whether you are a buyer or a seller.

About Me

My photo

Chris B. Johnson is a REALTOR® who Specializes in Short Sale and REO Transactions. Chris has been Certified as a California Association of Realtors HAFA Specialist, a National Association of Realtors Short Sale and Foreclosure Resource, Chris B Johnson Realtor is a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Default Advocate and Certified Pre-Foreclosure Specialist. With a full time staff dedicated to short sale negotiations and transactions, we have been successful with (almost) every short sale to date.  LinkedIn Pro    UpNest    What’s Your Home Worth?

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
POSTED BY

Posted in Buying Moorpark Short Sales, Buying Short Sales In Simi Valley, Buying Ventura County Short Sales, Camarillo Short Sale Help, Foreclosure Help, Homes For Sale In Oxnard, Oxnard Real Estate, Condos and Townhomes For Sale In Oxnard, Homes For Sale In Ventura County, Ventura County Real Estate, Condos and Townhomes For Sale In Ventura County, #T, Loan Modification, Moorpark Short Sale, Moorpark Short Sale Help, Moorpark Short Sale Realtor, Moorpark Short Sale Specialist, Newbury Park Short Sale Help, Oxnard Homes For Sale, Oxnard Real Estate, Ventura County Homes For Sale, Ventura County Real Estate, Principal Reduction Help, Real Estate, Santa Rosa Valley Short Sale Help, Short Sale, Simi Valley Home Price Updates, Simi Valley Short Sale Help, Simi Valley Short Sale Process, Simi Valley Short Sale Realtor, Simi Valley Short Sale Specialist, Stop Foreclosure Auction, Thousand Oaks Homes For Sale, Thousand Oaks Short Sale Help, Thousand Oaks Short Sale Specialist, Uncategorized, Ventura County Short Sale Help, Westlake Village Short Sale Help | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

Ventura County Home Prices: The Difference 5 Years Makes #ChrisBJohnsonRealtor

BY 

Real Estate Agent with Allison James Elite CA. BRE 01501699

#SellYourHomeForMoreandPayLess #TimeToSell #ChrisBJohnsonRealtor #SellersPayZEROCommission #ListYourHome&PayNoCommission #BetterThanFSBO #5StarREALTOR®

Your home is probably the biggest asset you own. This is why you should hire a professional to guide youthrough all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sellhome. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve…..

Home Prices: The Difference 5 Years Makes | MyKCM

CoreLogic recently released their Home Price Index ReportOne of the key indicators used in the report to determine the health of the housing market was home price appreciation. CoreLogic focused on appreciation from July 2013 to July 2018 to show how prices over the last five years have fared.

The graph below was created to show the 5-year change in price from July 2013 to July 2018 by price range.

Home Prices: The Difference 5 Years Makes | MyKCM

As you can see in the graph, the highest price appreciation occurred in the lowest price range with 48% growth, while the highest priced homes appreciated by 25%. This has been greatly fueled by the lack of inventory of homes available at the lower price ranges and high demand from first-time buyers looking to enter the market.

Where were prices expected to go?

Every quarter, Pulsenomics surveys a nationwide panel of over 100 economists, real estate experts, and investment and market strategists and asks them to project how residential home prices will appreciate over the next five years for their Home Price Expectation Survey (HPES).

According to the Q3 2014 survey results, national homes prices were projected to increase cumulatively by 19.5% by December 2018. The bulls of the group predicted home prices to rise by 27.8%, while the more cautious bears predicted an appreciation of 11.2%.

Where are prices headed in the next 5 years?

Data from the most recent HPES shows that home prices are expected to increase by 20.0% over the next 5 years. The bulls of the group predict home prices to rise by 31.2%, while the more cautious bears predict an appreciation of 9.3%.

Bottom Line

Every day, thousands of homeowners regain positive equity in their homes. Some homeowners are now experiencing values even greater than those before the Great Recession. If you’re wondering if you have enough equity to sell your house and move on to your dream home, let’s get together to discuss conditions in our neighborhood!

About Me

My photo

Chris B. Johnson is a REALTOR® who Specializes in Short Sale and REO Transactions. Chris has been Certified as a California Association of Realtors HAFA Specialist, a National Association of Realtors Short Sale and Foreclosure Resource, Chris B Johnson Realtor is a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Default Advocate and Certified Pre-Foreclosure Specialist. With a full time staff dedicated to short sale negotiations and transactions, we have been successful with (almost) every short sale to date.  LinkedIn Pro    UpNest    What’s Your Home Worth?

 

 

The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. does not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
POSTED BY

Posted in Buying Moorpark Short Sales, Buying Short Sales In Simi Valley, Buying Ventura County Short Sales, Camarillo Short Sale Help, Foreclosure Help, Homes For Sale In Oxnard, Oxnard Real Estate, Condos and Townhomes For Sale In Oxnard, Homes For Sale In Ventura County, Ventura County Real Estate, Condos and Townhomes For Sale In Ventura County, #T, Loan Modification, Moorpark Short Sale, Moorpark Short Sale Help, Moorpark Short Sale Realtor, Moorpark Short Sale Specialist, Newbury Park Short Sale Help, Oxnard Homes For Sale, Oxnard Real Estate, Ventura County Homes For Sale, Ventura County Real Estate, Principal Reduction Help, Real Estate, Santa Rosa Valley Short Sale Help, Short Sale, Simi Valley Home Price Updates, Simi Valley Short Sale Help, Simi Valley Short Sale Process, Simi Valley Short Sale Realtor, Simi Valley Short Sale Specialist, Stop Foreclosure Auction, Thousand Oaks Homes For Sale, Thousand Oaks Short Sale Help, Thousand Oaks Short Sale Specialist, Uncategorized, Ventura County Short Sale Help, Westlake Village Short Sale Help | Tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , | Leave a comment

#TimeToBuy #ChrisBJohnsonRealtor THIS WEEK’S MORTGAGE RATE TREND IS UP, It’s time To Buy!

BY 

Real Estate Agent with Allison James Elite CA. BRE 01501699

#SellYourHomeForMoreandPayLess #TimeToSell #ChrisBJohnsonRealtor #SellersPayZEROCommission #ListYourHome&PayNoCommission #BetterThanFSBO #5StarREALTOR®

Your home is probably the biggest asset you own. This is why you should hire a professional to guide youthrough all your real estate transactions. My goal is to help 24 to 28 families each year either buy or sellhome. I am NOT interested in Selling 100 or 200 homes a year because I would not be able to give each family the time, attention and energy they deserve…..

https://www.simplifyingthemarket.com/en/videos/embed/97822-26df5ea08f8689012df0225866ae0bf1/5b75e6b0

 

Weekly Mortgage Rate Update

Although this week’s major U.S. economic data and European Central Bank meeting contained more good news than bad for mortgage rates overall, rates ended slightly higher.

THIS WEEK’S RATE TREND IS UP

 

The mortgage industry’s most-watched bond yield broke through the 3 percent mark on Friday, signaling rising rates and investor optimism about the U.S. economy this fall.

The yield on the benchmark 10-year Treasury note, which is followed closely by mortgage rates, briefly hit 3 percent on Friday for the first time since Aug. 2. Yield have been rising this month as strong economic data has painted a picture of a hot economy as we move into the second half of the year.

rates rising

The latest move higher in bond yields is in part thanks to a revision in the retail sales figures out on Friday. The Commerce Department said on Friday retail sales edged up 0.1 percent last month, below expectations. But July’s figures were revised higher to show sales rising 0.7 percent instead of the previously reported 0.5 percent gain.

That’s significant because it shows bigger paychecks this summer resulted in hotter retail sales during the summer and back-to-school season.

On Friday, the University of Michigan’s Surveys of Consumers said sentiment hit 100.8 in September, up from 96.2 in August. This marks the second-strongest consumer sentiment rating since 2004. Consumer spending is a major driver of the U.S. economy.

CPI and PPI cool off

Other economic data this week included results from the monthly wholesale and consumer price indexes.

The producer price index (PPI), which measures wholesale prices, declined 0.1 percent in August, three-tenths below expectations. This reflected a decline in food prices (-0.6%) and retailer margins (-0.9%), but an increase in energy prices (+0.4%). Overall, the reading suggests a slight colling in wholesale price increases.

Meanwhile, the core consumer price index (CPI), which measures consumer prices, increased just .08 percent in August, its slowest move in more than a year. The CPI has increased at a 2.2 percent rate over the last 12 months, down from 2.4 percent in July.  2.2%. Rent increased .36 percent in August, showing housing costs continue to climb.

rates rising

Based on details in the PPI and CPI reports, analysts believe the core PCE price index, which is watched closely by the Federal Reserve Bank, is up about 1.93 percent over the last 12 months. That’s on-target for the 2 percent inflation rate Fed officials desire to maintain.

Odds are still high that Fed officials will raise interest rates again at their next meeting. If economic growth continues, two more rate hikes are possible before the end of the year.

Finally, let’s all remember in our thoughts and actions the millions of people in the Carolinas and Virginia who are suffering from Hurricane Florence. The damage caused by this storm will be multi-billion-dollar in nature. Please be safe if you are living or traveling in the storm’s path.

mm

ABOUT THE AUTHOR:

GREG RICHARDSON – EVP OF CAPITAL MARKETS

Greg Richardson is Movement’s EVP of Capital Markets and a contributing author to the Movement Blog. His weekly market update is a must-read commentary on financial markets, the mortgage industry and interest rates. Greg is an industry veteran who knows how to read the financial tea leaves and make complex industry data easy for loan officers, real estate agents and homebuyers to understand.

About Me

My photo

Chris B. Johnson is a REALTOR® who Specializes in Short Sale and REO Transactions. Chris has been Certified as a California Association of Realtors HAFA Specialist, a National Association of Realtors Short Sale and Foreclosure Resource, Chris B Johnson Realtor is a Certified Distressed Property Expert, Certified Short Sale Negotiator, Certified Default Advocate and Certified Pre-Foreclosure Specialist. With a full time staff dedicated to short sale negotiations and transactions, we have been successful with (almost) every short sale to date.  LinkedIn Pro    UpNest    What’s Your Home Worth?

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