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housing market: Caruso Says Watch the Big 3 ~ Employment, Housing and Europe… - 03/02/12 12:22 PM
We are halfway through the first quarter of 2012. The big question in everyone's mind is whether the economy continues to grow from here, or does it slow down like it did during the spring and summer of 2011? Remember, only a few months ago we were talking about the danger of a double dip recession. A stronger finish to the year ended that talk, but still many analysts have been predicting some sort of slowdown in 2012. What could prevent such a slowdown and keep the economy on pace to strengthen through 2012? We have already introduced the "big … (2 comments)
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housing market: Caruso's Economic Update! - 02/01/12 03:42 PM
The first set of earnings released in January focused upon the financial sector. In all, the reports by larger national and regional banks were disappointing and showed that we are not out of the woods with regard to the legacy of bad loans piled up on the asset sheets of banks during the recession. While the economy recovers, debt loads of banks and nations will prove to be a drag on growth. This is why analysts are looking at the good economic releases we have experienced in the past few months and are still remaining cautious. For the consumer, this … (1 comments)
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housing market: Homeownership Declines - 01/25/12 04:26 PM
Recently while browsing the latest California Real Estate Magazine, I came to learn that California is among the top five states with the lowest homeownership rates nationwide, according to the “Housing Characteristics: 2010” report by the U.S. Census Bureau.
With homeownership rate of 55.9%, California ranked second in the nation, falling behind New York’s rate of 53.5%.
Of California’s 37.3 million residents, 22.2 million live in the Los Angeles, San Diego, & San Francisco metropolitan regions. Because of this concentration in large urban areas, more than 30% of Californian families live in multi-home residences (which include apartments … (2 comments)
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housing market: Snapshot of Southern California Real Estate Inventory - 02/01/11 02:58 PM
I hope you will find the following snapshot of local So. Cal Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.
Housing Inventory Snapshot as of January 28, 2011
Orange County
MORTGAGE RATES (National Averages as of January 28, 2011)*
30-year fixed Rate - 4.78%
15-year fixed Rate - 4.08%
5/1 ARM Rate - 3.42%
* Mortgage rates were collected from publicly available sources (yahoo.com) on the date stated. The accuracy of the information and the availability of these rates are not guaranteed by the publisher. Rates are provided for informational purposes … (1 comments)
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housing market: Top 10 Most Affordable College Towns - 11/30/10 01:08 PM
Top 10 Most Affordable College Towns
I came upon a recent survey of real estate professionals in university towns shows that many parents are buying homes for collegiate children.The survey found 73% of practitioners surveyed said they see a significant number of investors buying homes near campus and renting them to people in the community, with only 21% seeing a decrease in this trend over the past five years.And football matters. Some 24% of practitioners said the success of a college's sports teams can have an impact on the local real estate market.The survey also identifies the 10 most affordable college towns … (1 comments)
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housing market: Micro-level market report - featured on ocregister.com - 11/28/10 12:28 AM
I was recently asked for the Orange County Register about the micro-level housing market in Laguna Niguel. I see a number of trends, such as an increase in sales of homes up-to- $1 million. Most activity is among homes in the "up-to-$500,000" range, increasing since 2008 and 2009. The current legislative news we are waiting for in 2011 should bring out more buyers once their questions are answered. To read the entire article by Jonathan Lansner and get the full details, click here: http://lansner.ocregister.com/2010/11/27/bargain-homes-hot-in-laguna-niguel/89534/ And thank you for making me your Orange County Real Estate Specialist!
Best Regards,
Michael Caruso, Broker ABR … (2 comments)
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housing market: Are Americans Still Worried About Making Housing Payments? - 11/13/10 01:17 PM
More than half of Americans are worried about not having enough money to pay their mortgage or rent, according to a survey recently released by the Washington Post. A third of respondents were "very concerned" about their ability to make housing payments, while a fifth were "somewhat concerned," adding up to 53 percent of respondents. This contrasts with the results of similar surveys the newspaper conducted in February 2009 and December 2008. In the 2008 survey, 37 percent of respondents said they were at least "somewhat concerned" about making their housing payments -- by February 2009, that figure had risen … (4 comments)
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housing market: Owners Spend Less on Housing... - 10/02/10 06:02 PM
The percentage home owners with mortgages who spent 30% or more of their household income on housing, including mortgage payments, taxes, insurance, and utilities, was 37.6% in 2009, almost unchanged from 2008. At the same time, the median home price dropped about 6%, according to data from the U.S. Census Bureau.Renters weren't so lucky. The number of renters spending 30% or more of their household income on housing-related costs rose to 51.5% of all renters in 2009, rising from 50% in 2008, according to the Census.Two factors affected housing affordability:· Median household income, adjusted for inflation, fell 2.9% in 2009 … (3 comments)
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housing market: The Consumer... - 08/04/10 01:58 PM
HOUSING AND THE CONSUMERAccording to some, on a year-over-year basis home prices have now increased for the fourth straight month, following more than three years of declines. Home prices troughed a year ago and have increases by 4.6% since then. In a few regions, home prices are increasing fairly quickly. Even in those areas where housing boomed the most, the rate of home price decline has slowed significantly.
However, there are some factors that would place housing at risk of another dip. Those factors include; Unemployment remaining high, Mortgage delinquencies still climbing and Mortgage rate resets on Alt-A and Option ARM … (3 comments)
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housing market: Jobs and Unemployment Update with Caruso! - 07/29/10 01:43 PM
It's A Fact: Nearly 1 out of 10 able bodied adults among us is unemployed. The administration is telling us to expect a near 10% unemployment into the extended future (California over 12.5%). To date, over $787B has been spent as "stimulus" intended to create or "save" jobs, and Washington is asking for more.
Much of the stimulus is directed to public works that at best create only temporary jobs or more bureaucracy that produces no income, goods nor marketable services. Many of these "created" jobs will require more tax revenues to sustain. This is where taxes are eaten up.
… (1 comments)
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housing market: Caruso's 5 Factors to Heal the Housing Market.... - 06/30/10 02:40 PM
While reading various articles I came across an article about 5 factors that may heal the housing market. They say it takes little logic to conclude that the Home buyer Tax Credit incentive is borrowing buyers from the future. Many of these buyers would have been in a position to purchase in the months ahead, given continued low interest rates and buyer-friendly home prices; this is reflected in recent home sales and mortgage application reports. For this to reverse five things need to happen:
1. Interest rate must remain low. 2. Private-sector wages will need to rise, enabling the current … (5 comments)
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housing market: Housing Market News Story with Caruso - 04/14/10 05:55 PM
Check this out! Let me know what you think!
http://abclocal.go.com/kabc/story?section=news/consumer&id=7384877
And thank you for making me Your Orange County Real Estate Connection
www.MichaelCarusoRealEstate.com
Best regards,
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors (949) 753-7900
… (0 comments)
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housing market: Homebuying with Caruso - 04/13/10 12:10 PM
Going Solo ~Buying a house is a complex transaction. It should be a team effort. You'll need a real estate agent, lender, inspector, insurer, perhaps a lawyer and other team members to help you through each step of the way. Team build before you start the search.
Love at First Sight ~If you believe in fairy tales you probably shouldn't be buying a home. You won't live happily ever after if you emote your way through the home buying process. Your home should fit your real needs, not your yen for drama. Buy a home that fits your budget and … (3 comments)
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housing market: Survey Finds..... - 04/10/10 11:56 AM
A recent survey found in NAR supports blog post SO...Character Does Count.
Survey finds Americans prefer homeownershipA new national survey gauging attitudes toward housing finds that two-thirds of Americans (65 percent) still prefer owning a home, despite the challenging economic environment and the housing downturn. The Fannie Mae National Housing Survey, conducted between December 2009 and January 2010, polled homeowners and renters to assess their confidence in homeownership as an investment, the current state of their household finances, views on the U.S. housing finance system, and overall confidence in the economy. The survey revealed that homeowners and renters alike are taking … (4 comments)
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housing market: FAIR HOUSING MONTH - 04/08/10 12:18 PM
April 2010 marks the 42nd anniversary of the 1968 landmark Fair Housing Act. Each year REALTORS recognize the significance of this event and reconfirm our commitment to upholding fair housing law as well as our commitment to offering equal professional service to all in their search for real property.
Things you and your REALTOR Association can do to recognize Fair Housing Month:
Sponsor a local Fair Housing Month poster contest. Afterward, make association calendars out of the artwork. Publish the REALTOR® Fair Housing Declaration and post it in your office and/or association. Use the Fair Housing Proclamation and have your … (2 comments)
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housing market: Caruso's Recession Update! - 03/27/10 12:35 PM
Is the recession finally coming to an end? According to Forbes.com the housing crisis is finally stabilizing in 5 cities, and the job outlook is positive.
In recent weeks business in Washington, D.C. ground to a halt as record snowfalls pummeled the area and a sparring match over national health care reform hijacked the political conversation. But the nation's capital is getting something right: It is emerging from the recession better than any other major city in the country, according to research by Forbes.
Jobs in Washington are growing quickly, and in 2008 the city produced more in goods and … (2 comments)
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housing market: The Housing Market is Moving at a Snail's Pace - 03/24/10 04:06 PM
The Housing Market is moving at a snail's pace. Reaching the recovery finish line will happen, but it will be a slow process. Even with the first time homebuyer's $8,000 tax credit and the $6,500 tax credit for homeowner's who've lived in their home for more than 5 years. The market is still weak and there is little indication that the tax credits are generating much activity.
Needless to say, buyers must sign sales contracts by the end of April and complete their transaction by the end of June, to qualify for the tax credits. Which means, buyers need to … (3 comments)
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housing market: 0% interest - 12/15/09 11:39 PM
The interest rates have remained low for quite some time now. Economists think the chairman and policymakers will wait too long to raise interest rates rather than risk hiking too soon.
Recent language from the Fed caution that it expects economic conditions "likely to warrant exceptionally low levels of the federal funds rate for an extended period." This leads to the belief that the Fed will wait until we see an increase in consumer spending and inflation warning signs.
So should we leave the rates around 0% until we are absolutely sure the economy is back on track? Well, that comes with some … (2 comments)
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housing market: Signs of a housing revival - 09/17/09 07:29 PM
A government report stated Thursday that new home building increased in August, further signaling that home builders are continuing to regain their confidence in the housing market recovery.
Click HERE to read the full article.
And thank you for making me Your Orange County Real Estate Connection.
www.MichaelCarusoRealEstate.com
Best regards.
Michael Caruso, Broker ABR ABRM CRB CRS GREEN GRI
2007 President, Orange County Association of Realtors (949) 753-7900
… (0 comments)
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housing market: More Signs that the Market is Slowly on the Rise. Are We Moving Forward? - 04/22/09 03:12 PM
The median home price in Southern California has been stable for three straight months while sales have been increasing, a real estate tracking firm said Wednesday.
The figures, showing that the median price in the six-county region has remained at $250,000 from January through March, indicate "the market may be exploring price floor levels," MDA DataQuick said in its report.
The firm also said sales increased 52 percent last month to 19,486 from 12,808 in March 2008, led by low-cost foreclosure deals in inland neighborhoods. Last month was the ninth straight month with a year-over-year sales increase.
"Sales are picking … (2 comments)
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Michael A. Caruso ~ Orange County Real Estate
Laguna Niguel,
CA
More about me…
Michael Caruso Real Estate Group
Address: 9891 Irvine Center Dr. #170, Irvine, CA, 92618
Office Phone: (949) 753-7900
Cell Phone: (949) 248-0300
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