Real Estate News: Featured Posts – 4-11-13

Real Estate News:
Ruby Brings You Today’s Posts
4/11/13

Real Estate News:
Here Are Ruby’s Featured Posts For Today (4/11/13)

Hi there. Ruby here with today’s Featured Posts at the Costa Real Estate Digest. I’m Brion Costa’s cyber assistant, and I’m here to guide you through the site so you can find the best information about real estate in one simple location. Whether you’re a prospective buyer or seller, an investor in commercial or residential properties, or just someone who likes to keep up on the Southern California Real Estate market, you’ll find all the information you need right here at BrionCosta.com.

Real Estate News - Brion CostaToday I have two great posts to bring to your attention. The first is titled: “Real Estate Values: Low Mortgage Rates Making US Homes More Affordable”. It has some great information about the forces at play in the residential property market right now. This post will fill you in on the current balancing act going on between home values, mortgage rates, and the income level of the prospective buying public. Buyer’s income levels are static right now. Home prices are rising. It’s only the low interest rates we’re experiencing that are keeping homes affordable. Many analysts believe that we’re looking at a slow-down or even a pull-back in home prices if interest rates begin to rise. In this post you’ll find a report from PropertyWire that explains the whole thing:

>>> Real Estate Values: Low Mortgage Rates Making US Homes More Affordable

Real Estate News - Brion CostaThe second article I want to point out today is called: “Southern California Commercial Real Estate: Vacancies Shrink In East Valley”. This article highlights a report from the Press-Enterprise about Southern California commercial real estate vacancy numbers. They’re improving! Most specifically, the vacancy rates for industrial properties are falling. This is partly due to a lack of new units being built, but also due to the economy which is generally improving. You can read about that by clicking this link:

>>> Southern California Commercial Real Estate: Vacancies Shrink In East Valley

That’s it for now. Please, follow the links and read today’s articles. Leave us your comments and questions if you like … We love to get a conversation going. Subscribe to our RSS feed, and receive our posts as they happen! And remember, for the best information regarding the Southern California real estate market, join Brion Costa and myself here at BrionCosta.com regularly.

You’ll be glad you did!

Bye now!

==================================

Be Sure To Join Ruby Often
As She Guides You To The Best Information On
Southern California Real Estate News On The Web!

Real Estate News

Southern California Commercial Real Estate: Vacancies Shrink In East Valley

Southern California Commercial Real Estate:
Vacancies Shrink In East Valley

Southern California commercial Real Estate - Brion Costa

Lack Of New Construction Bolsters Southern California Commercial Real Estate Occupancy Numbers

The "East Valley", or the "Inland Empire" as it's also known, is seeing a rise in Southern California commercial real estate occupancy numbers. This rise can be traced mostly to a lack of new industrial construction. This lack is causing current occupants to renew their expiring leases and remain where they are. Additionally, the economy is generally improving, and that means that more companies are positioning themselves with leases that are affordable now and might be more expensive later.

Here's an article by Jack Katzanek in the Press-Enterprise that explains the details:

REAL ESTATE: Vacancies shrink for industrial buildings in East Valley

"The owners of distribution and manufacturing properties in Inland Southern California would just as soon not remember 2009, when one-fifth of all those properties sat vacant. But the most current data in that area will certainly help wipe some of …"
http://www.pe.com/business/business-columns/commercial-real-estate-headlines/20130408-real-estate-vacancies-shrink-for-industrial-buildings-in-east-valley.ece

Southern California Commercial Real Estate Market
Appears To Be Firming Up

The commercial real estate market in Southern California has been posting numbers indicative of a "recovery" for a while now. This appears to be true for the first quarter of this year as well.

Southern California Commercial Real Estate.

Real Estate Values: Low Mortgage Rates Making US Homes More Affordable

Real Estate Values:
Low Mortgage Rates Making US Homes More Affordable

Real Estate Values - Brion Costa

Real Estate Values & Mortgage Interest Rates Engaged In A Balancing Act

In these pages we have been reporting for a while now on rising real estate values here in California and around the country. The affordability of homes is still good because low interest rates on mortgages are offsetting the rising cost of housing.

However, many analysts are now seeing a crunch coming with any rise in interest rates from their current levels. The problem is that incomes are not rising along with real estate values. Incomes are remaining stagnant. That means that even if current interest rates remain the same, homes will become more un-affordable as prices rise out of the range of most buyer's income. Should interest rates begin to rise the problem will be even more serious.

Here's an article from PropertyWire with all the details:

Low mortgage payment rates making US homes more affordable, new research …

"At the end of the fourth quarter of 2012, with mortgage rates in the 3 to 4% range, US home owners paid 12.6% of their monthly income on mortgage payments, down 36.9% from historic, pre bubble norms." …Property Wire"
http://www.propertywire.com/news/north-america/us-housing-market-rates-201304107654.html

Real Estate Values May Be Looking At A Correction Of Some Kind

The upshot of the article is that in all probability real estate values will have to level off and remain stagnant while incomes catch up. In some areas, where the rise in prices has been the steepest, values may even have to retreat some to adjust. Markets need to stay in "balance". The balancing act between real estate values, mortgage rates, and the incomes of home buyers is a delicate one, and it's reaching a tipping point. Look for prices to level off soon and possibly to pull back from current levels as the market waits for incomes to catch up.

Real Estate Values.

Real Estate News – Featured Posts – 04-06-2013

Real Estate News:
Ruby Brings You Today’s Posts

Real Estate News:
Here Are Ruby’s Featured Posts For Today (4/6/13)

Hi there. Ruby here. I’m Brion Costa’s cyber assistant, and I’m here to guide you through the Costa Real Estate Digest so you can find the best information about real estate in one simple location. Whether you’re a prospective buyer or seller, an investor in commercial or residential properties, or just someone who likes to keep up on the Southern California Real Estate market, you’ll find all the information you need right here at BrionCosta.com.

Real Estate News: Home ValuesToday I have two great posts to bring to your attention. The first is titled: “Home Values: Prices Show Biggest Jump In February In 7 Years”. In this post you’ll find a report from Inman News about home values nationwide. Home values increased in February by a very large jump over the same month last year. A report from CoreLogic provides the details, and you can read all about it by clicking here:

>>> Home Values: Prices Show Biggest Jump In February In 7 Years

Real Estate News: Southern California Home SalesThe second article I want to point out today is called: “Southern California Home Sales: Market Shows Strongest February In 6 Years”. This article highlights a report from the Press-Enterprise about Southern California Home Sales numbers … also for February. As with the nationwide sales figures, prices are rising quickly in Southern California. Interestingly though, activity is falling in some areas. This is mostly due to low inventory, which is another component that is forcing prices upwards. You can read about that by clicking this link:

>>> Southern California Home Sales: Market Shows Strongest February In 6 Years

That’s it for now. Please, follow the links and read today’s articles. Leave us your comments and questions if you like … We love to get a conversation going. Subscribe to our RSS feed, and receive our posts as they happen! And remember, for the best information regarding the Southern California real estate market, join Brion Costa and myself here at BrionCosta.com regularly.

You’ll be glad you did!

Bye now!

==================================

Be Sure To Join Ruby Often
As She Guides You To The Best Information And
Real Estate News On The Web!

Real Estate News.

Southern California Home Sales: Market Shows Strongest February In 6 Years

Southern California Home Sales:
Market Shows Strongest February In 6 Years

Southern California Home Sales | Costa Real Estate Digest

Southern California Home Sales Rise …
While Certain Areas Fall

The numbers in Southern California home sales in February are interesting. Nationwide, February was a great month as we've reported elsewhere in these pages. In addition, Southern California home sales are among the nation's leaders when it comes to prices. However, activity has actually fallen in some areas of the Southland as the inventory is sparse.

Here's a report from Debra Gruszecki in the Press-Enterprise that details the recent numbers:

REAL ESTATE: Home prices rise 18 percent; sales decline

"'We are at a six-year high since the start of the year,' said DataQuick analyst Andrew LePage. Even so, sales in the Inland region declined, falling 5.9 percent in San Bernardino and Riverside counties to 4,792 from 5,093 in February 2012." …

http://www.pe.com/business/business-headlines/20130313-real-estate-home-prices-rise-18-percent-sales-decline.ece

Southern California Home Sales Fueled By "Move Up" Buyers

A lot of the activity going on out there involves "move up" buyers. These folks are seeing the market becoming solid again, and they recognize that prices are still low and mortgages are cheap. If they've got equity in their current home, many are deciding to take advantage of the California home sales market conditions to move to a larger, newer home.

Southern California Home Sales.
 

Home Values: Prices Show Biggest Jump In February In 7 Years

Home Values:
Prices Show Biggest Jump In February
In 7 Years

Home Values - Costa Real Estate Digest

Home Values Continue To Rise
Posting Large Jump In February

In this report from Inman News, CoreLogic has found that home values rose dramatically in February. The rise is being driven mostly by activity in Western states, with California home sales leading the pack. When the home values melt down occured several years ago, values fell over 30% nationwide. At this point they are up to a level about 26.3% below the highs in the boom.

Read this report from Inman News about the CoreLogic findings:

Home prices post highest increase in nearly 7 years

"Home prices rose more on an annual basis in February than they have in nearly seven years, largely due to outsized price appreciation in Western states, according to a report released today by real estate analytics firm CoreLogic." …
http://www.inman.com/news/2013/04/3/home-prices-post-highest-jump-in-nearly-7-years

 

California Home Values Really Jumped

Here in California, according to the CoreLogi findings, home values jumped over 15%. That's a huge jump, and should be taken with a grain of salt. As the market rebounds we are dealing with a lack of inventory, which can push prices up. There will also be large jumps followed by smaller ones and even pull-backs. The market is re-bounding, and home values are rising, but this isn't a "boom" folks. We're a long way from full "recovery".

Home Values 
 

California Home Sales: Equity Sales At Highest Level Since 2008

California Home Sales:
Equity Sales At Highest Level Since 2008

California Home Sales | Costa Real Estate Digest

California home sales numbers are increasing and prices are rising over this same period last year.

California Home Sales Numbers Continue To Rise

The statistics regarding California home sales continue to improve, says the California Association of Realtors. Among the improving numbers are those regarding "distressed property" sales. They continue to fall. Equity sales in February reached 67.1% of the market, the highest in 5 years.

Here's an article from LoanSafe with all the numbers:

California Equity Sales Increase to Highest Levels in 5 Years

"(LoanSafe.org) –  Equity sales (non-distressed sales) now account for more than two-thirds of all home sales in the state, the highest number of equity sales since April 2008.  This time last year, equity sales accounted for merely 46.7% of all sales …"
http://www.loansafe.org/california-home-sales-increase-in-february-but-lower-than-one-year-ago

California Home Sales Future Looking Bright

At this point, there's not much holding back further improvement of the California home sales numbers. Low inventory is a problem in some areas, as are lending requirements which some believe are currently too restrictive. But these factors don't seem to be hindering conntinued improvement.

California Home Sales.