Month: November 2014

Los Angeles’s Luxury Home Prices Are at a Record High

The price for luxury homes in Los Angeles continued its upward trend in the third quarter, marking five quarters in a row of double-digit gains. The gains, according to First Republic Bank, are largely due to limited inventory and low interest rates. Luxury homes are those valued at over $1 million. Homes in this category are up 13% from the

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Fear Shouldn’t Stop You From Applying for a Mortgage

A recent survey found that 54% of people who want to buy a home within the next two years aren’t pursuing that goal because they fear they won’t be able to get a mortgage. Conducted for loanDepot, the telling survey included 1,0005 U.S. adults. The most fearful group is comprised of those who have never purchased a home, with 56%

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Median Home Prices Increase in L.A. as Home Sales Dip

Los Angeles County saw a 7.1% increase in median home price in October, as compared to the same month a year ago. Dipping by 3.3% was the number of homes sold, according to CoreLogic DataQuick. In October 2013, the median home price in Los Angeles County was $425,000 and 7,038 homes were sold. Last month, by comparison, the numbers were

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As U.S. Employment Rebounds, Mortgage Rates Increase

The first week of the fourth quarter is already behind us. From what we’ve seen thus far, it looks as though we’re off to a promising start in terms of employment and future housing demand. On the employment front, October saw the addition of more than 200,000 new jobs, putting the country on pace to reach approximately 2.3 million jobs

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