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![Where Will Home Prices Be Next Year? [INFOGRAPHIC] | Keeping Current Matters](http://www.keepingcurrentmatters.com/wp-content/uploads/2015/10/Home-Prices.jpg)
![New Home Sales Surge By 5.7%! [INFOGRAPHIC] | Keeping Current Matters](http://www.keepingcurrentmatters.com/wp-content/uploads/2015/10/New-Construction-KCM.jpg)
CoreLogic recently released their 2015 2nd Quarter Equity Report which revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of all mortgaged properties (approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO of CoreLogic, reported:
“For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets.”
Obviously, this is great news for the financial situation of many homeowners.
A recent study by Fannie Mae suggests that many homeowners are unaware that their equity position has changed…in some cases dramatically. For example, their study showed that 23% of Americans still believe their home is in a negative equity position when, in actuality, only 9% of homes are in that position.
The study also revealed that, though 69% of homes had “significant equity” (greater than 20%), only 37% of Americans realize it.
This means that 32% of Americans with a mortgage fail to realize the opportune situation they are in. With a sizeable equity position, many homeowners could easily move into a housing situation that better meets their current needs (moving to a larger home or downsizing).
Fannie Mae spoke out on this issue in their report:
“Homeowners who underestimate their homes’ values not only underestimate their home equity, they also likely underestimate 1) how large a down payment they could make with their home equity, 2) their chances of qualifying for mortgages, and, therefore, 3) their opportunities for selling their current homes and for buying different homes.”
Every homeowner should be aware of the true equity in their house and also realize the opportunities that go along with it. If you are unsure of the savings you currently have built up in your home, contact a real estate professional to help ascertain that number. You may be surprised.
CoreLogic recently released their 2015 2nd Quarter Equity Report which revealed that 759,000 properties had regained equity in the last quarter. That means that 91% of allmortgaged properties (approximately 45.9 million) are now in a positive equity position. Anand Nallathambi, president and CEO of CoreLogic, reported:
“For much of the country, the negative equity epidemic is lifting. The biggest reason for this improvement has been the relentless rise in home prices over the past three years which reflects increasing money flows into housing and a lack of housing stock in many markets.”
Thinking about retirement and wondering whether or not you should relocate? Consider this: in a new report from the data experts at FindTheHome, Santa Barbara County led the pack as one of the best areas to retire in the country! Experts created a "retirement index" for each county in the U.S. based on five significant factors:
1. The quality of local hospitals, nursing homes, and home health centers; 2. The number of universities, recreational facilities, libraries, and parks per capita; 3. Grocery stores and restaurants per capita plus WalkIQ; 4. The percentage of the population over 65 with a college degree; 5. Real estate market health, median sales price, properties with rent under $1,500/month and more.
Santa Barbara County scored high on the charts with a retirement index score of 94.7502! With our abundance of sunshine, beaches, and outdoor activities, Santa Barbara and the surrounding areas offer plenty of ways for you to relax, unwind, and enjoy your retirement. Convinced? Contact us today and let us help you find your perfect home in sunny Santa Barbara!
If you are debating listing your house for sale this year or even early next year, here is the #1 reason not to wait!
According to the National Association of REALTORS’ (NAR) Foot Traffic report, there are more buyers out in the market right now than at any other time in the past three years.
The graph below shows the significant increase in foot traffic experienced this year compared to 2014.
The latest Existing Home Sales report shows that there is currently a 5.2-month supply of homes for sale. This remains lower than the 6-month supply necessary for a normal market and well below August 2014 numbers.
The chart below details the year-over-year inventory shortages experienced so far in 2015:
Meet with a local real estate professional who can show you the supply conditions in your neighborhood and assist you in gaining access to the buyers who are ready, willing and able to buy today!
If you are debating listing your house for sale this year or even early next year, here is the #1 reason not to wait!
According to the National Association of REALTORS’ (NAR) Foot Traffic report, there are more buyers out in the market right now than at any other time in the past three years.
![How Quickly Are Homes Selling In Your State? [INFOGRAPHIC] | Keeping Current Matters](http://www.keepingcurrentmatters.com/wp-content/uploads/2015/09/20151002-Days-on-the-Market.jpg)
The ancient design philosophy of feng shui is gaining more traction in real estate as the number of Chinese home buyers are taking a bigger liking to U.S. real estate.
Eighty-six percent of Chinese Americans believe feng shui will play a role in a future home buying decision, according to a newly released survey of 500 Chinese-American home buyers, conducted by Better Homes and Gardens Real Estate, in conjunction with the Asian Real Estate Association of America. What’s more, 79 percent of respondents said they’d pay more for a home that follows feng shui principles — an average of 16 percent more to boot.
Seventy-five percent of respondents said deal breakers for them, which follow feng shui principles, would be a home being located at the end of a dead-end street, having the stairs directly facing the front door, and if the front and back doors are aligned.
Chinese buyers spent a whopping $28.6 billion on U.S. residential real estate from April 2014 to March 2015, according to the National Association of REALTORS®. That is prompting more real estate professionals to take notice of what feng shui is all about and what could be driving some of this growing number of buyers’ interests.
Peruse this infographic from Better Homes and Gardens Real Estate to learn more about feng shui: 5 Quick Feng Shui Fixes…
The California Association of Realtors' (C.A.R.) 2016 California Housing Market Forecast, released yesterday, foresees 2016 to be "the best year for home sales activity since 2012." According to the report, California is expected to see over 430,000 home sales next year, exceeding 2015 sales by over 25,000 closings, an annual increase of 6.3%. Demand in less expensive areas (like the Central Valley and San Bernardino) is projected to stay strong thanks to solid job growth.
The forecast calls for a 3.2% increase in home prices next year, compared to 6.5% in 2015, 9.8% in 2014, 27.5% in 2013 and 11.6% in 2012.
Although home sales are expected to grow in the coming year, home affordability will continue to be an issue in the Golden State. Despite this cost affordability, 2016 is anticipated to be the best year for sales activity since 2012, which is great news for the California housing market.
Fixed rate 30-year mortgages are also expected to reach 4.5% in 2016.
Men have their man caves, but how about a space just for females? Welcome, the “she shed.”These backyard retreats are becoming the latest buzzword in interior design — emerging as the perfectly carved out haven for the woman of the household who seeks a quiet place of her own. Women are transforming old backyard sheds or even building mini cottages to create a place of relaxation or where they can pursue hobbies, such as ceramics, painting, and gardening. They are designing these mini sheds with everything from crystal chandeliers to luxurious furniture to create a top-notched designed space with all those feminine touches their heart desires. The only rule: No men allowed.
Take a look at some of these ‘she sheds’ photographed on Houzz.
Fall is a good time to take care of big home repair projects before shorter days (and in many areas, ice and snow) make outdoor work too difficult. And if you do live in an area with cold winters, take some time this fall to boost energy efficiency throughout your home, and prevent damage from winter storms with proper tree care (we spoke with an expert to find out what you need to do). Tick these 15 items off your list this season, and you can rest easy knowing that your home and yard are buttoned up and ready for winter.
Price Reduced! Refined 4BD country home w/ 1BD guest house on a gated & fenced .46 acre where Montecito meets Carpinteria. Features soaring vaulted ceilings & impressive exposed beams, 6 skylights, 2 fireplaces in living room & family room, formal dining room, entertaining decks, hot tub, steam shower, a bounty of fruit trees, multiple water features, rock walls and 3+ car garage.
Newly offered at $2,195,000!
Newly reduced! This award-winning luxury town home in the heart of downtown Santa Barbara is only steps away from renowned amenities and has a walk score of 97! Large 1 bdrm+loft unit showcases an open concept floor plan w/wood floors, gourmet kitchen, Granite counters, stainless steel appliances, gas fireplace & private patio. Luxurious bdrm features Juliette balcony, en-suite bathroom w/double vanity & oversized walk-in closet. Loft is perfect for overnight guests or as a dedicated office. Completely gated building with elevator to street level and parking garage.
Less than 1 mile to waterfront and beautiful Santa Barbara beaches and close to acclaimed restaurants, theaters, galleries, museums, historic sites, boutiques and shopping. One Twenty One is the winner of The American Institute of Architects Santa Barbara Chapter Merit Award for excellence in design and has been awarded the coveted Santa Barbara Beautiful Award for 2014.
