Have you noticed that fewer and fewer homes are on the market in Ventura? Then, most likely you noticed that it is happening all around the country too! Here’s a snap shot of the June 2012 inventory based on listings in realtor.com. (Realtor.com is a database of all MLS (multiple listing services) real estate databases around the country.)
Category Archives: Buying a Home
It’s a Good Time to Buy!
With mortgage rates at an all-time low, you get more for your money than ever before!
The blue in this chart represents National 30-year fixed mortgage rates.
The green in this chart represents National 30-year fixed jumbo mortgage rates.
The red in this chart represents National 7/1 ARM mortgage rates.
Turned Down for a Refinance?
Here’s a great article recently article by the National Association of REALTORS:
When a lender says you don’t qualify for a mortgage refinance, you may be able to fix what’s wrong or find another lender willing to step up.
The five things that most often stop a refinance from going through:
- Your home is worth less than your current mortgage (also known as being underwater).
- Your credit score is too low.
- You can’t document your income.
- The lender thinks you’re not making enough money to cover your bills.
- Your home is listed for sale.
You can overcome some of those five issues fairly quickly, but others will take time.
Where Homes Are Selling the Fastest
According to Realtor.com data, the average number of days homes are spending on the market has dropped by nearly 10% nationwide in the last year. The average U.S. home now spends 84 days on the market.
But in some housing markets, homes are selling even faster, spending an average of 45 days or less on the market before they sell. What’s more, many of these housing markets are having not only some of the speediest home sales but also some of the largest increases in median home prices compared to a year ago.