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Posts Tagged ‘inventory’

How The New Higher Tax Rates Will Affect Luxury Housing

January 7, 2013 Leave a comment

Positive Rental Payment History May Help Build Credit

January 7, 2013 Leave a comment

Over the past five years, the number of renters has risen to 40 million, which is about 35% of the US population. Many of these individuals make their rent payments on time every single month, and show a responsible history, but until recently, it didn’t boost their credit rating.

Now, Experian, one of the three big credit bureaus, is reporting rental payment history on its credit report for those landlords and property management companies who utilize ClearNow, an automated service for collecting rental payments. For those who already participate in ClearNow, their history is automatically included on their credit report. Individual renters must coordinate with their landlords to sign up for ClearNow if they are interested in having rental information included in their credit file.

Experian collects this information every 24 hours, and houses it in its RentBureau database, which also assists other landlords in making tenant decisions.

A strong, positive rental payment history gives a boost to young adults who don’t have much credit because they can slowly demonstrate and prove they can be trusted with their financial management. A positive payment history can also help improve the credit scores of those with damaged credit due to the economy, a foreclosure, or other problems.

Presented by Shelter Mortgage

July Flyer

July 7, 2011 1 comment

Click on the link below to see the July Flyer

July Flyer

If you have any suggestions for flyer information…just let us know.

Dave & David Warner

 
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Chapman University Economic Forecast

June 17, 2011 1 comment

Despite small improvements in consumer confidence and a slight uptick in the leisure and hospitality sector, the economic recovery in Orange County and California will barely crawl forward, according to the Economic Forecast Update released today by the A. Gary Anderson Center for Economic Research at Chapman University.

Blame lackluster housing and job numbers, said Esmael Adibi, Ph.D., director of the center and one of the chief experts who prepared the report, presented to a sold-out crowd of 850 business people, local leaders and policy-makers at the  Hilton Orange County/Costa Mesa.

“We will not get the real recovery in home prices unless we get significant job creation,” Dr. Adibi said. Moreover, banks are still backed up with foreclosure processing, and housing prices will continue to drop.

But next year will bring gradual improvement and “continuing recovery,” said Chapman President Jim Doti, the Donald Bren Distinguished Chair of Business and Economics and founder of the Chapman forecast. Among the positive signs for the local economy is that rental vacancies have dropped 1.6 percent and show indications of dropping further, President Doti said. That’s an important indicator that family formation is growing, a trend that will carry over into the housing and consumer markets, he said.

And while the recovery process faltered during the aftermath of Japan’s tragic earthquake and tsunami disaster, the rebuilding process there will benefit California, according to the forecast.

“The rebuilding effort is going to be very positive for California — not just manufactured goods, but also food stuff,” Dr. Adibi said, explaining that salt water from the tsunami had damaged some of Japan’s agricultural land.

Other specific highlights from the report:

  • Housing prices declined 4.3 percent during the first quarter. Continued declines  will increase the number of foreclosures and distressed properties, placing pressure on the banking and financial system. Even more damaging to the economy would be the negative wealth effect resulting from lower housing prices.
  • Housing prices in the nation will continue to depreciate, declining 2.7 percent in 2011 and an additional 1.4 percent in 2012.
  • On an average annual basis, the total number of payroll jobs in Orange County will increase by about 20,000 jobs in 2011 and 30,000 jobs in 2012. This translates to growth rates of 1.5 percent in 2011 and 2.2 percent in 2012, roughly the same as California’s job growth projection.
  • As the economy picks up steam by year-end, the Fed will increase the federal funds rate. Chapman forecasters estimate that will happen, at the earliest, in the first quarter of 2012, and are forecasting an increase in the fed funds rate from 0.2 percent to 1.8 percent by the end of the year. Long-term interest rates, like the 10-year treasury bond, will increase 100 basis points, from 3.5 to 4.5 percent.

The forecasts are generated by the Chapman Economic Model, created in 1978 by Dr. Doti and his students. It was the first quarterly econometric model for a metropolitan area and is still used to create the annual forecasts and updates

Time to Sell Your House?

May 10, 2011 1 comment

Interest rates have risen over the last six months

Interest rates have stabilized recently. However, in the last six months, interest rates have climbed over 1/2%. Every time the rates increase 1/4%, approximately 250,000 buyers are eliminated from qualifying for a mortgage. In an environment of volatile rates, waiting could mean that there will be fewer buyers eligible to purchase your house. It also could mean that you will pay a higher rate on the next home you buy.

Dave & David Warner

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JUST LISTED! OCEAN VIEW 2 BEDROOM END UNIT SAN CLEMENTE

April 13, 2011 1 comment

Please Click on the Link Below!!!!!

http://www.postlets.com/realestate/mini_385.php?pid=5396891

Dave & David Warner
First Team Real Estate
714-870-1028
949-547-0480

Dre #’s 01236069-01236519
callwarner.ft@gmail.com
 

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Forecast: Flat O.C. rents next two years

April 6, 2011 3 comments

The Casden Real Estate Economics Forecast, from the folks at USC’s business school, predicts flat Orange County rents in the next two years – with occupancy rates barely changing.

That’s a bit of a contrast to industry and government reports showing rents slowing increasing in recent months as the local economy modestly improves.

Casden analysis:

  • “Stabilized” employment picture from loss of 75,000 jobs in 2009 to gain of 6,500 jobs, in ’10. Unemployment rate in December 2010 was 8.9 percent, vs. 9.5 percent a year before. “Because of robust employment growth in preceding years, overall unemployment is still lower in Orange County than in neighboring metro areas such as San Diego, Los Angeles or the Inland Empire, and lower than the nation overall.”
  • Demand for apartments increased in year ended Q4 2010 to net 5,830 units, up 39 percent over the prior four quarters. Two Orange County submarkets experienced negative net absorption for the year: Mission Viejo and Central County.
  • Occupancy increased 1.2 percentage points in 2010, to 94.9 percent. Occupancy outpaced the West region by 0.8 percentage points, and had the second-best showing in Southern California.
  • Average rents increased by 0.8 percent in 2010 to $1,475 at year’s end, while “same-store” rents remained unchanged. Orange County’s annual rent performance was the fourth-weakest among the 64 metro areas tracked nationwide by MPF Research.
  • New Orange County apartment openings will drop precipitously in 2011.
  • Orange County home prices, “remain high relative to the rest of Southern California. Both the employment picture and relative lack of home affordability have helped support the multifamily market in 2010.”  Thank you,  OCR

Dave & David Warner
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