Tag Archives: California Association of Realtors

Money Monday: Millennial money habits

Here’s how the millennials, on average, are managing their money.

  • 63% are saving money (many for emergency funds, retirement, or to buy a house — call me to shop for a house in San Diego County!)
  • 59% feel financially secure
  • 57% have a savings goal
  • 54% are budgeting

How are you doing on developing solid money habits? There’s plenty of tips, advice and information that I publish on my blog every Monday –> Click to view all Money Monday posts!

Millennial Money Habits - infographic from CALIFORNIA ASSOCIATION OF REALTORS

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

California Real Estate Market Update – March 2018

 California home sales tick higher in March as median price reaches eight-month high

urban real estate prices, most live in suburbs

– Existing, single-family home sales totaled 423,990 in March on a seasonally adjusted annualized rate, up 0.3 percent from February and 1.6 percent from March 2017.

– March’s statewide median home price was $564,830, up 8.1 percent from February and 8.9 percent from March 2017.

– Alameda, Marin, San Mateo, Santa Clara, San Diego, and Orange counties all hit a new peak price at $955,000, $1,392,500, $1,615,000, $1,454,500, $625,400, and $824,450, respectively…

Graphics (click links to open):

Note:  The County MLS median price and sales data in the tables are generated from a survey of more than 90 associations of REALTORS® throughout the state and represent statistics of existing single-family detached homes only. County sales data are not adjusted to account for seasonal factors that can influence home sales.  Movements in sales prices should not be interpreted as changes in the cost of a standard home.  The median price is where half sold for more and half sold for less; medians are more typical than average prices, which are skewed by a relatively small share of transactions at either the lower-end or the upper-end. Median prices can be influenced by changes in cost, as well as changes in the characteristics and the size of homes sold.  The change in median prices should not be construed as actual price changes in specific homes.

Read all of C.A.R.’s report here: “March home sales and price report”.

When Housing Inventory is Low, Finding a Home Will Take Some Time

Looking around? You’ll find your perfect home, it may just take awhile.

While it’s a sellers’ market out there, if you’re patient you should be able to find the home you want to live in — not just one you’re settling for.

This infographic is from CAR.org.

Money Monday: Financial Milestones

How do your financial milestones compare with the average consumer’s?

The CALIFORNIA ASSOCATION OF REALTORS averaged consumers’ answers to when they:

  • Started saving for retirement
  • Attained a good credit score over 700
  • Saved $10,000
  • Paid off student loans
  • Purchased first home

average consumer financial milestones

This infographic is from CAR.org.

Money Monday: How to avoid wire fraud

You have to be extra vigilant with your money nowadays. When buying real estate, don’t fall victim to wire fraud with these three steps:

  1. Pay attention to how wire instructions are sent (in other word — only accept instructions that are secure and encrypted).
  2. Before wiring funds, call to verify the wire instructions with the title company.
  3. Be careful of any changes — real instructions rarely change.

Wirefraud Money Monday - John Silva blog

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS at CAR.org.

The Perfect Home – Infographic

The idea of the perfect home varies for each individual, but overall there are some strong desires within each generation.

  • Single-family homes in the suburban are a top priority to 55% of gen X-ers and baby boomers.
  • The home doesn’t matter as much as the location for millennials and the silent generation — they both desire walkable communities close to work.
  • 60% of families prefer larger homes and yards.
  • Homes with small yards and a walkable distance from amenities are high on the list for 55% of Americans

Positively Perfect home for the generations

Check out the CALIFORNIA ASSOCIATION OF REALTORS’ infographics here.

Closing Chaos Infographic

In escrow? Hopefully you don’t experience these closing frustrations.

While the majority of home sales close on time, there are some that are delayed or cancelled altogether for various reasons.

Here are the top 5 reasons for a delayed closing:

  1. Issues in obtaining financing
  2. Issues with the home inspection
  3. Issues with appraisal
  4. Issues related to title or deed
  5. Issues with sorting out the deal’s contingencies

Closing Chaos infographic CAR.org

This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.

Homeownership Has Benefits

Thinking of becoming a home owner?

Homeownership has a few benefits; improved: educational performance, health, and civic participation, and lower crime rates.

Homeownership has benefits

This infographic is from CAR.org.