Housing Prices Increase
Last month housing prices moved up the most in Colorado and Washington. The year over year price increases for Colorado were 10.4% and in Washington state home prices increased on a year-over-year basis in December I 10.3%. Yes, Colorado and Washington state posted the largest year-over-year housing price increases for the United States.
The best housing price increases on a year-over-year basis as of December 2015, after Colorado and Washington, were followed by Oregon which showed a 9.1% increase, Iowa with an 8.6% increase and Nevada with an 8% increase.
Now, when you exclude distressed properties from the December housing price data, the states with the largest year-over-year price increases does change slightly. In order of the best twelve-month housing price increase, Colorado still remains first, but now with a slightly lower average 9.7% increase. Also, Washington State and Oregon retain their second and third positions but now with 9.5% increase for Washington and a 9.3% increase for Oregon. In fourth position we now have New York State at 8.5%, followed by Nevada at 8.3%.
San Diego Home Mortgage Rates Fall for 4th Week
Mortgage rates fell for the 4th straight week as economic concerns continued affecting global markets.
The 30-year fixed-rate mortgage fell 4 points to 3.94%. The 15-year fixed-rate mortgage fell 2 points to 3.21%.
The average 30-year fixed-rate jumbo mortgage fell 4 points to 3.83%.
The typical 5/1 adjustable-rate mortgage ticked down 1 point to 3.3%.
Mortgage applications jumped 8.8% last week compared with the previous week, according to the Mortgage Bankers Association’s weekly survey. Read more
Home Prices Increase
New York, January 26, 2016 – S&P Dow Jones Indices today released the latest results for the S&P/Case -Shiller Home Price Indices, the leading measure of U.S. home prices. Data released today for November 2015 show that home prices continued their rise across the country over the last 12 months.
The S&P/Case – Shiller U.S. National Home Price Index, covering all nine U.S. census divisions, recorded a slightly higher year-over-year gain with a 5.3% annual increase in November 2015 versus a 5.1% increase in October 2015. The 10-City Composite increased 5.3% in the year to November compared to 5.0% previously.The 20-City Composite’s year-over-year gain was 5.8% versus 5.5% reported in October. Read more
Real Estate Market 2016
This video is about real estate cycles. Since this was produced in November 2015 the cycle depicted by John in the video is his opinion of the current real estate market 2016. I believe his explanation of the real estate cycle is 100% correct, but what is open for interpretation is exactly where the market is in current time.
John Cochran will teach you all about the different Real Estate market cycles we will see in our lifetime AND how to predict “Shift” in Real Estate. Not only will he show you all about these cycles but most importantly you will know how to react in each one to make a boatload of money in each one. See additional comments below the video.
Yes it’s easy to look back and determine where the market was, but it’s extremely difficult with any did degree of accuracy to say exactly where the real estate market is at the current time.
The same can be said of the stock market, but the big difference between the stock market and the residential real estate market is the fact that the stock market can have almost instantaneous corrections, where the real estate market takes many months and usually years before establishing a definitive trend. Read more
2016 REAL ESTATE ADVICE
Why Kevin O’Leary says real estate is one of the worst investments in 2016. Although Mr. O’Leary is talking about Canadian real estate in this video, I believe the same factors could apply to the Silicon Valley San Francisco Bay area of California as well as a number of the coastal communities in California. Click this link to read my 2016 San Diego real estate market outlook.
One flaw in Kevin’s theory is more often than not you can pay less on a mortgage then you can for rent so in five years after putting money in month after month the year of the year instead of have a equity you have nothing! Read more
2016 Housing Affordability Outlook – Constrains as Expansion Matures
WASHINGTON, DC – Fannie Mae’s (FNMA/OTC) Economic & Strategic Research (ESR) Group’s theme for the economy and housing market in 2016 centers on the challenge of housing affordability coupled with expected modest economic growth, as the expansion progresses through its seventh year. In their January 2016 Economic & Housing Outlook, the ESR Group expects that further labor market tightening will lead to increased household income and job security amid more relaxed lending standards and easier access to mortgage credit. However, strong home price gains, especially in the lower-end of the market, continue to outpace household income growth, eroding affordability. Consumer spending is expected to underpin economic growth again this year, while residential investment and government spending should help drive growth despite some drag from net exports. Overall, the ESR Group expects the economy to grow 2.2 percent for all of 2016, with China’s deteriorating economic activity, a stronger dollar, geopolitical turmoil, and uncertainty about monetary policy remaining downside risks to the outlook.
2016 Real Estate Outlook
Back in December 2015 I published my San Diego 2016 real estate forecast. If you haven’t read this the please do so. But, to give my readers a more rounded view of others opinions on which way the real estate market may go in 2016 I have put together this compilation of real estate opinions for 2016:
http://news.google.com Tue, 19 Jan 2016 21:19:59 GMT
Motley FoolThe Best Real Estate Investment for 2016Motley FoolInvesting in real estate can be a great way to create income and build wealth, but owning rental property isn’t for everyone. Many people simply don’t have the time and patience to be a landlord, while others are turned off by the thought of …and moreﾠ»
Real Estate 2016
Should you get into the 2016 real estate market?
As far as the San Diego California 2016 real estate market outlook, I’ve already given my opinion and thought that by posting this video my readers would be able to get another point of view.
When viewing this video keep in mind that it was produced in 2011. But, probably more importantly, this is just one person’s opinion.
Wishing you good times, good cheer, and a memorable new year.
All of us at Brokerforyou.com San Diego want to thank you for your business, loyalty, and
support in 2015. We look forward to being a part of your success in 2016!