National Home Prices Projected to Increase by 4.9 Percent Year Over Year by January 2016

CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its January 2015 CoreLogic Home Price Index (HPI^®) which shows that home prices nationwide, including distressed sales, increased 5.7 percent in January 2015 compared to January 2014. This change represents 35 months of consecutive year-over-year increases in home prices nationally. On a month-over-month basis, home prices nationwide, including distressed sales, increased by 1.1 percent in January 2015 compared to December 2014.*

Including distressed sales, 27 states and the

Is Tiny Living For You?

These days, Tiny living is all the rage in a big way. There are even TV shows featuring living small. And let's face it: When it comes to real estate, aside from location, it's almost always true that the smaller you go, the less you pay, as square footage is king when it comes to finding most home values.

This week, Curbed Los Angeles will be running features for their first ever Micro Week. Their focus will be "five days' worth of stories, photos, and minuscule floorplans that celebrate the grand tradition of small-space living. We'll tour small homes, explore the city's smallest neighborhood, and so much more!"

So, are you ready to downsize? Whether it's a tiny condo or a teeny-weeny house that we in the real estate industry like to refer to as a "condo alternative", tiny living is more popular than ever. Take a look at Curbed Los Angeles's first feature How 7 Tiny Home Dwellers Learned to Love Micro Living

Visit Gerry Moylan's real estate website by clicking here

Some Fast Real Estate Facts

Calif. median home price: January 2015: 

• California: $426,790
• Calif. highest median home price by region/county January 2015: San Mateo, $1,012,500
• Calif. lowest median home price by region/county January 2015: Del Norte, $152,260

Calif. Pending Home Sales Index:
January 2015: Increased 26.7 percent from 70.9 in December to 89.8 in January.

Calif. Traditional Housing Affordability Index: Fourth Quarter 2014: 30 percent (Source: C.A.R.)

Mortgage rates: Week ending 2/19/2015 (Source: Freddie Mac)
• 30-yr. fixed: 3.76% fees/points: 0.6%
• 15-yr. fixed: 3.05% fees/points: 0.6%
• 1-yr. adjustable: 2.45% Fees/points: 0.4%

Visit Gerry Moylan's real estate website by clicking here

GOT A REAL ESTATE QUESTION?

An English Tudor I sold in Studio City

I spend most of days answering questions from my buyers and sellers. So I figured why not answer some of your real estate-related questions while I'm at it. Some of the more common questions buyers ask me are: Who pays your commission? It is customary for the seller's agent to pay the buyer's agent's commission here in southern California. Will I lose my deposit, if I change my mind? It's almost impossible for a buyer to lose their deposit in California, since the purchase agreement gives you a period of time to inspect the property and get your loan approved (contingency period). You have the right to cancel the agreement at any time during this period. If you continue on with the purchase, you then remove all of your contingencies.

SAFETY TIPS VIDEO FOR WHEN YOU SELL YOUR HOME

I always advise my sellers to watch this video. If you're thinking of selling, please take a look at some safety tips when selling your home.




Visit Gerry Moylan's real estate website by clicking here

How Much Money Do I Need To Put Down When I Buy A Home?

The number one question I get from home buyers: How much money do I need to put down when I buy a home? Well, according to a recent report by CNN Money:

"Borrowers who have steady income and good credit, but not much money in the bank, will find that it recently became easier to buy a home."

And the news gets better...

"It's one of the things that's inhibiting first-time homebuyers," said Rob Chrane, president of Down Payment Resource. "There are a lot more people who can qualify for a home that don't realize that they can."

The Real Estate Market Gearing Up For Spring Season

According to Shannon Christenot, my go-to mortgage broker with JMJ Financial:

"Consumers are getting excited about prime home shopping time getting ready to heat up. In fact, 67% of respondents to Fannie Mae’s National Housing Survey in January said they feel that now is a good time to buy a house."

She should know. Shannon is on the front lines of the home-buying process. It doesn't get any more real than a buyer applying for a loan after an accepted offer.

Shannon also noted: