by Editorial Team | Oct 24, 2020 | Jeff Yarbrough Group
Mortgage applications to buy homes fell by 2% last week from the week prior, according to the Mortgage Bankers Association (MBA). The MBA metric, known as the purchase index, was still up year-over-year, making it the 21st week the index has posted annual growth. But...
by Editorial Team | Oct 3, 2020 | Jeff Yarbrough Group
Stand and be counted, Counties! As another pandemic-related milestone dominates the headlines, SoCal’s home prices are garnering attention, too. Our 6-county region’s median price reached $600,000 in August, up 12.1% from a year earlier, according to data released...
by Editorial Team | Sep 19, 2020 | Jeff Yarbrough Group
While California made huge strides in 2017 with favorable Accessory Dwelling Unit (ADU) legislation, a new series of state bills, signed into law by Gov. Newsom in early 2020 further lowered barriers to creating ADUs, a.k.a. Granny Flats or garage conversions. Here...
by Editorial Team | Sep 11, 2020 | Jeff Yarbrough Group
Since this weekend is setting temperature records, you might want to increase the heat quotient by socially-distancing your way to Muscle Beach in Venice, which dates back to the 1930s when L.A.’s Works Progress Administration installed exercise equipment...
by Editorial Team | Jul 18, 2020 | Jeff Yarbrough Group
Many notable deals we handle (including a couple this week not mentioned in this newsletter) are with notable people. We sign non-disclosure agreements and try to keep their big-ticket purchases out of the papers. But over 25 people touch each escrow we close, and if...
by Editorial Team | Jun 13, 2020 | Jeff Yarbrough Group
LendingTree, an online lending source, found that 53% of home buyers are more likely to buy a home in the next year, due to the coronavirus outbreak. This is especially true for first-time home buyers (73%) and millennials (66%). For all buyers who are planning to...
by Editorial Team | May 26, 2020 | Jeff Yarbrough Group
Fewer homes sold last month across The Southland, but the Coronavirus pandemic didn’t bring Southern California’s prices down. According to an article just out in the L.A. Times, sales dropped 35% month-over-month in L.A. County—more than any other SoCal county—but...
by Editorial Team | May 8, 2020 | Jeff Yarbrough Group
In case you were worried about them, the ultra-rich are still buying homes. In March and April combined, L.A. County recorded 82 home sales of $5,000,000 or more, including 14 transactions north of $10M. In the same period of 2019, 85 residential sales of $5M or...
by Editorial Team | Apr 25, 2020 | Jeff Yarbrough Group
I took time over the last couple of weeks to shoot and add virtual tours to my property listings that were without them; apparently, an effort not in vain. According to the National Association of Realtors, 25% of Realtors with buyers who wrote contracts on homes this...
by Editorial Team | Apr 11, 2020 | Jeff Yarbrough Group
Earlier this week, homebuyers found rates on 30-year fixed-rate mortgages more than an entire percentage point below where they saw them last year at this time. The difference between 2019′s 4.5% and today’s 3.25% can greatly reduce the monthly payment and total...
by Editorial Team | Mar 15, 2020 | Jeff Yarbrough Group
Lawrence Yun, the National Association of Realtors Chief Economist released the following statement today: “The Federal Reserve slashed interest rates to near zero, which should have a positive impact on the housing market. The monetary policy change is the same one...
by Editorial Team | Mar 13, 2020 | Jeff Yarbrough Group
Earlier this week, mortgage rates moved to historic lows: 3.375% is being offered on a 30-year fixed Jumbo (up to $3,000,000) and 2.750% on a 15-year fixed conforming loan up to $510,400 (3.125% is offered on a 30-year fixed conforming loan). The welcome rate...
by Editorial Team | Feb 15, 2020 | Jeff Yarbrough Group
As more states relax marijuana laws, these legal changes are affecting the real estate industry on multiple levels, according to a new National Association of Realtors (NAR) survey released on Tuesday. The “2019 Marijuana and Real Estate: A Budding Issue” report says...
by Editorial Team | Jan 18, 2020 | Jeff Yarbrough Group
According to a report out this week, many rich home buyers laid low in 2019, as economic uncertainties turned purchasing in some cities into risky propositions. But don’t be surprised in 2020 to spot the world’s wealthiest people beginning to spend again as home...
by Editorial Team | Jan 11, 2020 | Jeff Yarbrough Group
If you’re a renter in 2020, you may be paying more per month than you would if you owned your own home or condo. According to a new study from listing service RentCafe, the average rent in Los Angeles has ballooned to $2,527, a whopping 65% increase since 2010. That’s...
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