Mortgage Broker

Increased Existing Inventory,Higher Mortgage borrowing standards Napa Valley Real Estate Report ep19





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Mike talks about a 35% decline in google searches for real estate broker, home broker and sell my house. This will translate to the current market strength of the real estate market.

Mike breaks down a very technical article published by Zillow, showing total number of new active listings is down 8.3% but the existing inventory of homes that is currently on the market has actually increased 2.5% since March 1. Mike mentions that it indicates homes have been sitting on the market for longer and falling out of contract while buyers have pulled back.

Chris discusses an article about JPMorgan Chase to raise mortgage borrowing standards as economic outlook darkens. It will be financially harder to buy a house since it will require a 700 credit score who has payment history with them.

Mike discusses another article published by the Mortgage Bankers Association titled Mortgage Credit Availability Decreased in March. The availability of mortgages in the U.S. fell by 16.1% in the month of March alone.

They also talked about a property in Vallejo, California. This is the least expensive housing you can buy in the San Francisco Bay Area. It got the price reduced by 3.9%, this is a real-time decline on the low end of the market.

Articles:

Properties analyzed in this episode:

531 Lighthouse Drive
Vallejo, CA 94590

475 Lighthouse Drive
Vallejo, CA 94590

243 Lighthouse Drive
Vallejo, CA 94590

109 Lighthouse Drive
Vallejo, CA 94590
source

3 comments

  1. Whats up Mike! I was wondering if you guys could go over some properties in the Dallas market? Love the content!

    Reply
  2. A+ Insightful, Honest. Useful Information is a sea of confusion.

    Reply
  3. awesome content keep it up dude

    Reply

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