Riverside County Home Information Center

11/06/2023

In its latest U.S. Economic Outlook, Wells Fargo puts the 30-year conventional mortgage rate at 7.3% in the fourth quarter of 2023, declining somewhat to 7% at the beginning of next year. The bank's forecasting group predicts that rates will fall below 5% at the end of 2024. Hopefully!!
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10/06/2023

Be realistic

According to statistics ,home values increased by an average of 45% between 2019 and mid-2022. If you're new to the housing market, you may not realize how abnormal that is. If you base a home purchase on the belief it will appreciate at an annual rate of 5%, 10%, or more, you're likely to make a very bad buying decision.

Depending upon where you live and the condition of your home, annual appreciation may -- or may not -- keep up with inflation. Never buy a home believing it will appreciate by a specific amount each year.

Think long term.

10/03/2023

05/26/2023

Inventory levels are still at historic lows. Consequently, multiple offers are returning on a good number of properties

05/25/2023

We have not seen the traditional uptick in new listings from existing homeowners, so undersupply of housing will continue to impact market competition and put pressure on prices in most regions. Some markets are already heating up considerably, but price premiums that we saw last spring and summer are unlikely!!

05/25/2023

Well-priced, move-in ready homes with curb appeal in desirable areas are still receiving multiple offers and selling for over the asking price in many parts of the country . . .”

03/25/2023

In 1940, the median home price in the U.S. was less than $3,000.

03/05/2023

The 30-year fixed-rate mortgage averaged 6.65% in the week ending March 2, up from 6.5% the week before, according to data from Freddie Mac released Thursday. A year ago, the 30-year fixed-rate was 3.76%.

Rates had been trending downward after hitting 7.08% in November, but are now climbing again, up about half a percentage point in a month. Robust economic data continues to suggest the Federal Reserve is not done in its battle to cool the US economy and will likely continue hiking its benchmark lending rate.

10/27/2022

We believe every family should feel confident when buying and selling a home.

You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will answer many of your questions and likely bring up a few things you haven’t even thought about yet

It's difficult to know when is the best time to sell, or how to get the most money for your house, but you don't need to go through the process alone. You may be wondering if prices are projected to rise or fall…or how much competition you may be facing in your market. The free eGuide below will a...