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Market Newsletters Mortgage Update!
A reprint from Market Newsletters. Are We In The Midst of Another Mortgage Meltdown? Things are changing rapidly in the mortgage market. Almost overnight, loan programs have disappeared, interest rates are all over the place, and more than a few lenders are closed for business indefinitely. All this despite the Federal Reserve buying more than $100 billion / week of mortgage debt. Is this another meltdown? In many ways, the current situation is far worse than the 2008 meltdown. Credit is evaporating more quickly. Mortgage rates aren’t as responsive to Fed bond buying. Borrower income/employment demographics have imploded much more decisively and much more suddenly. And the average mortgage servicer is…
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March 2020 Hi Desert Real Estate Market Update
Greetings, As the weather changes, many are chasing the green to find good real estate deals. Below is the current market conditions from a mathematical view for the Hi Desert communities. Nothing makes a real estate transaction better than having informed and educated Buyers and Sellers. It is my hope you gain some knowledge from the monthly Updates. Last month, February, we saw record escrow closings (well, at least a record for as long as I have been providing these Updates!). In fact, January and February were well above past years for the same month. Other highlights include: Inventory continues to be low. Currently, we are at about July 2017…
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SB County’s New Vacation Rental Regulations
Many of you have heard that the County has recently updated their Vacation Rental Regulations. I will discuss this in more detail at a later date but below are some links to read the Regulations on homes, cabins, and wind requirements. These new rules are outlined in the documents below: New 2020 San Bernardino County Vacation Rental Regulations New 2020 San Bernardino County Vacation Rental Cabin Regulations New 2020 San Bernardino County Windspeed Regulations for Vacation Rentals
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February 2020 Hi Desert Real Estate Market Update
Love may be in the air, but real estate is on the minds of many in our Hi Desert communities. Below is my monthly market update on the mathematical conditions of our market. There are some interesting statistics and information in this report. Most notable are: Inventory is way down. As of the date I did the research we were down to 378 active listings compared to 465 same time last year. Closed escrows are up from same time last year by 25 sales (107 TY compared to 82 in 2019) This is the best January closings in the last six years! Only 53% of sales were under $200,000. More…
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January 2020 and Year End 2019 Hi Desert Real Estate Market Update
Happy New Year 2020!!! This month’s message is a bit longer than normal, but it includes my year end report along with my forecast for the year. With the Holidays behind us, it is now time to focus on the new year and how our local real estate market will respond. Let’s take a quick look at my 2019 forecast and see how I did. Here is what I forecast for the year of 2019 (My comments on the year are in red): I am trying to stay optimistic even though the end of 2018 could point to a slowdown. I am forecasting sales by unit to remain around 1,500…
