Wednesday, February 10, 2021 / by Traci Pimentel
Home values appreciated by about ten percent in 2020, and they’re forecast to appreciate by about five percent this year. This has some voicing concern that we may be in another housing bubble like the one we experienced a little over a decade ago. Here are three reasons why this market is totally different.
1. This time, housing supply is extremely limited
The price of any market item is determined by supply and demand. If supply is high and demand is low, prices normally decrease. If supply is low and demand is high, prices naturally increase.
In real estate, supply and demand are measured in “months’ supply of inventory,” which is based on the number of current homes for sale compared to the number of buyers in the market. The normal months’ supply of inventory for the market is about 6 months. Anything above that defines a buyers’ market, indicating prices will soften. Anything below that defines a sellers’ market in which prd ...
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Monday, December 14, 2020 / by Traci Pimentel
If you’re currently feeling the stress of affording your mortgage payment, or if you know someone who is, there’s still time to get help. For homeowners experiencing financial hardship this year, the CARES Act provides mortgage payment deferral options, creating much-needed relief in these challenging times.
It’s important, however, to understand how forbearance works. It’s not automatic. You need to take action now and apply for the program before these options expire.
A study by the Urban Institute determined:
“Approximately 400,000 homeowners who became delinquent after the pandemic began have forgone forbearance and become delinquent. These borrowers may not know they are eligible for forbearance.”
Thankfully, there’s still time to apply for forbearance, even if you’re just learning about it now. Doing so may be the game-changer you need to stay in your home, just when you need it mos; ...
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Thursday, May 21, 2020 / by Traci Pimentel
Teri McKay Koscelnik sat down for an engaging Zoom interview with Zorro's Cafe & Cantinia owners, Bailee & Eric Landrigan. Small business across the country have been affected by temporary closures due to Covid-19, however the Landrigan's have been offering curbside pickup 7 days a week. Be sure to call to place your orders in advance! And yes, you can order breakfast until 3pm!
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Friday, April 24, 2020 / by Traci Pimentel
Watch full video then click for a list of many more Central Coast businesses open during Covid-19:
Click here for list: Businesses Open On The Central Coast
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