Concerns about a potential recession have been a hot topic recently, and understandably so. The notion of a looming recession has raised fears among many about the potential for a significant increase in unemployment. This, in turn, has led to concerns about a possible surge in foreclosures, reminiscent of the challenging period we faced about 15 years ago.Yet, there's a silver lining, as indicated by the...
Are you dreaming of buying your own home in the Inland Empire and wondering about how you’ll save for a down payment? You're not alone. Some people think about tapping into their 401(k) savings to make it happen. But before you decide to dip into your retirement to buy a home, be sure to consider all possible alternatives and talk with a financial expert. Here’s why.The Numbers May Make It...
The California real estate market experienced considerable shifts in the past 12-18 months leading up to September 2023, influenced by high mortgage interest rates and record-high home prices. These factors significantly impacted buyer and seller behaviors, reflecting on the month's sales and price trends.Market OverviewThe pace of the California real estate market moderated in September 2023 compared to...
Planning to Retire? It Could Be Time To Make a Move. If you’re thinking about retirement or have already retired this year, you may be planning your next steps. One of your goals could be selling your house and finding a home that more closely fits your needs. Fortunately, you may be in a better position to make a move than you realize. Here are a few things to think about when making that...
A Significant Drop in InflationWe're halfway through 2023 and the U.S. economy has just received some great news. The inflation rate, which stood at a challenging 9.1% in June 2022, has remarkably been reduced to a comfortable 2.97% as of June 2023. This significant decline is a testament to the Federal Reserve's assertive policy of raising interest rates, a strategy that started in March 2022 and was...
The "Mortgage Lock" Effect: A Closer Look at The Inland Empire's Real Estate LandscapeOver the last few years, we've seen a significant shift in mortgage rates. From an all-time low of 2.65% for 30-year fixed mortgages in January 2021, rates have more than doubled to an average of 7% as of summer 2023. This abrupt shift has introduced new challenges for homeowners across the nation.The Emergence of...
Purchasing a home is an exciting milestone, but it's important to recognize the significant role your credit score plays in securing a home loan. Lenders review your credit history to assess your financial responsibility, and your credit score directly impacts the interest rates and loan terms you qualify for. In this guide, we will delve deeper into the significance of your credit score in the home...
Amid economic volatility and speculation, the housing market has remained remarkably resilient. Despite earlier concerns and sensational headlines predicting a collapse in 2023, the reality is far from the painted doomsday scenarios. Among other reports, here are some examples of what we saw in some publications:During the fourth quarter of last year, many housing experts predicted home prices were going...