Legerton Real Estate Market & News

03/20/2025

https://wendylegerton.exprealty.com/blog/272531/March+2025+-+Number+To+Know+Going+Into+Spring

Number to know: 28%That’s how many more active listings there were this February compared to February 2024. This c

03/18/2025

https://www.huntingtonbeach4sale.realestate/

Contact us for all your real estate buying and selling needs.

03/18/2025

https://www.hbcondos4sale.realestate/

Contact us for all your real estate buying and selling needs.

02/26/2025

https://fb.watch/x_sbBX6zeC/

02/24/2025

Mortgage rates are likely to stay higher for longer as Federal Reserve policymakers pause rate cuts until they’ve seen the impacts of the Trump administration’s trade, tax and immigration policies on inflation, mortgage industry forecasters predict.

Fannie Mae economists said Thursday they don’t expect rates on 30-year fixed-rate mortgages to drop below 6.5 percent this year or next — a prediction in line with a Feb. 19 forecast by the Mortgage Bankers Association.

So, if you're waiting to buy waiting on rates you're going to miss out on the home...

02/20/2025

01/18/2025

This is your Buyer presentation to better understand why we Realtors request a buyer Broker Agreement. We want you to understand our requirements and explain...

01/02/2025

https://fb.watch/wSDabslEcN/

12/10/2024

OC please remember the less fortunate...and not just OC.

12/02/2024

The new rate reality - by Matt Carter
November 21, 2024

This year is shaping up to be the worst year for existing-home sales since 1995, and the recent runup in mortgage rates has economists thinking sales won’t rebound next year as convincingly as previously forecast if many would-be sellers continue to sit on the sidelines and buyers see fewer affordable options.

Economists at Fannie Mae and the Mortgage Bankers Association released forecasts Thursday that included dramatic downward revisions for projected home sales and a more cautious outlook on the prospects for mortgage rates to come down anytime soon.

With rates likely to stay well above 6 percent next year, many would-be sellers could continue to feel locked in by the low rate on their existing mortgage, economists said. The lack of for-sale inventory may keep propping up prices that soared in many markets during the pandemic, exacerbating affordability challenges for homebuyers.

11/30/2024

https://www.facebook.com/reel/619096860448960

11/11/2024

Bro and Sis playtime just doing the pup thing

10/23/2024

Catch the Rates! Today's NuVision Rates for your Loans

10/22/2024

Did you know that if you have zero credit, say for instance you are a Dave Ramsey graduate and eliminated debt you will eventually wipe out your FICO because a FICO score is actually saying oh you have debt your are paying but good for that high score for not defaulting and keeping the bank rich...

Ok, so back to the manual underwriting: its for you the guy who has the ability to buy a home but needs to do so without that electronic monkey analyzing your FICO or better said, Debt.

Manual underwriting is a mortgage application review process that's performed by a human, rather than an automated computer program. It's typically used when a borrower has unique circumstances or doesn't meet certain standards, such as:
No credit history
Minimal credit history
A foreclosure or bankruptcy on record
A high debt-to-income ratio
A major financial event on their record
Getting a jumbo loan
During manual underwriting, an underwriter will review a borrower's finances, including:
Debt-to-income ratio
Loan-to-value ratio
Credit score and history
Assets
Liabilities
Income
Employment
Manual underwriting requires more paperwork and takes more time than automated underwriting. Lenders may also request manual underwriting, or a borrower may be able to request it depending on their lender.
Some things that can help a borrower qualify for a manual underwriting loan include:
Making a large down payment, such as at least 20%
Having high cash reserves
Having a low debt-to-income ratio
Providing proof of payment history, such as on-time payments for rent, auto, insurance, and utilities

10/22/2024

California Association of Realtors
MARKET UPDATE
Market Update

California home sales dropped to the lowest level in nine months but will likely improve, albeit slowly, as the market enters the final quarter of 2024. In the latest sale & price report, the number of opened escrows once again exceeded last year’s levels for the third consecutive month and point to an increase in home sales in October. The median home price in California continued growing for fifteen consecutive months, but at a more moderate pace, and is expected to continue moderating for the rest of year. With prices expected to soften and rates likely to normalize by the end of the year, the fourth quarter is a window of opportunity for homebuyers on the sideline to re-enter the market. In the broader U.S. market, housing starts dipped 0.5%, with single-family construction holding steady while multifamily development slowed. The economy remains solid with retail sales showing strong growth, despite concerns about consumers’ financial wellbeing and a slowing job market.