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#HyperLocal Mortgage Rates and Home Appreciation for Moorpark & Ventura County!

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Real Estate Agent with Allison James Elite CA. BRE 01501699
https://activerain.com/droplet/5dqb

Weekly Mortgage Rate Update

Despite a huge need for more inventory of homes in many regions, higher labor, land, and material costs are some of the reasons cited by homebuilders for the slowdown in new construction.

THIS WEEK’S RATE TREND IS FLAT

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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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#TimeToBuy #ChrisBJohnsonRealtor Moorpark Homes Are More Affordable Today than 1985-2000

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Real Estate Agent with Allison James Elite CA. BRE 01501699

#TimeToSell #ChrisBJohnsonRealtor #SellersPayZEROCommission #ListYourHome&PayNoCommission#BetterThanFSBO

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 sell ahome. 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….

Homes More Affordable Today than 1985-2000 | MyKCM

Rising home prices have many concerned that the average family will no longer be able to afford the most precious piece of the American Dream – their own home.

However, it is not just the price of a home that determines its affordability. The monthly cost of a home is determined by the price and the interest rate on the mortgage used to purchase it.

Today, mortgage interest rates stand at about 4.5%. The average annual mortgage interest rate from 1985 to 2000 was almost double that number, at 8.92%. When comparing affordability of homeownership over the decades, we must also realize that incomes have increased.

This is why most indexes use the percentage of median income required to make monthly mortgage payments on a typical home as the point of comparison.

Zillow recently released a report comparing home affordability over the decades using this formula. The report revealed that, though homes are less affordable this year than last year, they are more affordable today (17.1%) than they were between 1985-2000 (21%). Additionally, homes are more affordable now than at the peak of the housing bubble in 2006 (25.4%). Here is a chart of these findings:

Homes More Affordable Today than 1985-2000 | MyKCM

What will happen when mortgage interest rates rise?

Most experts think that the mortgage interest rate will increase to about 5% by year’s end. How will that impact affordability? Zillow also covered this in their report:

Homes More Affordable Today than 1985-2000 | MyKCM

Rates would need to approach 6% before homes became less affordable than they had been historically.

Bottom Line

Though homes are less affordable today than they were last year, they are still a great purchase while interest rates are below the 6% mark.

About Me

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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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Mortgage Rate Update for Moorpark #TimeToBuy #ChrisBJohnsonRealtor

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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#TimeToBuy #ChrisBJohnsonRealtor Mortgage Delinquencies Jump 16 Percent in Affected Area

Mortgage Delinquencies Jump 16 Percent in Affected Area: #TimeToSell #ChrisBJohnsonRealtor Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your

Friday, October 6, 2017

The Ventura County Mortgage Process: What You Need to K

The Ventura County Mortgage Process: What You Need to Know#TimeToBuy #ChrisBJohnsonRealtor : #TimeToSell #ChrisBJohnsonRealtor: Many buyers are purchasing a home with a down payment as little as 3%.You may already qualify for a loan,

Thursday, October 5, 2017

The Truth About Ventura County Homeowner Equity #TimeTo

The Truth About Ventura County Homeowner Equity #TimeToSell #ChrisBJohnsonRealtor: #TimeToSell #ChrisBJohnsonRealtorA recent article from a reputable news source was titled: Here’s why some Ventura County homeowners still can’t sell.

Wednesday, October 4, 2017

1st Time Buyers VS Luxury, A Tale of Two Markets: A 6-M

1st Time Buyers VS Luxury, A Tale of Two Markets: #timeToSell #ChrisBJohnsonRealtor A 6-M: #TimeToSell #ChrisBJohnsonRealtorSix months ago, we reported that the mismatch between the type of inventory of homes for sale and the demand of buyers in

Tuesday, October 3, 2017

Things You Don’t Want to Hear from Your Ventura County

Things You Don’t Want to Hear from Your Ventura County Listing Agent #TimeToSell #ChrisBJohnsonRealtor: #TimeToSell #ChrisBJohnsonRealtorYou’ve decided to sell your house. You begin to interview potential real estate agents to help you through the process. Yo

Monday, October 2, 2017

Which Ventura County Homes Have Increased the Most in V

Which Ventura County Homes Have Increased the Most in Value: #TimeToSell #ChrisBJohnsonRealtorHome values have risen dramatically over the last twelve months. The latest Existing Home Sales Report from the National A

Thursday, September 28, 2017

Thinking of Selling your Ventura County Home? Competiti

Thinking of Selling your Ventura County Home? Competition Is Coming #TimeToSell #ChrisBJohnsonRealtor: #TimeToSell #ChrisBJohnsonRealtor Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your
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Chris B Johnson Realtor, Moorpark Short Sale Specialist, Certified REO Bank Owned Realtor

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Real Estate Agent – Allison James Elite – CA. BRE 01501699
Your home is probably the biggest asset you own. This is why you should hire a professional to guide you through all your real estate transactions. Call Me.

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Chris B Johnson, REALTOR®Quality Not Quantity #ChrisBJohnsonRealtor (Allison James Elite)

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REALTOR®Quality Not Quantity #ChrisBJohnsonRealtor
Is it Too Late to Short Sell My Home??
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