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Scott Ivey

NewVision Realty Group Blog

Thursday, October 17, 2019   /   by Scott Ivey

Greater buying power amid historically low rates bolsters September home sales

 Greater buying power amid historically low rates bolsters September home sales,C.A.R. reports.
- Existing, single-family home sales totaled 404,030 in September on a seasonally adjusted annualized rate, down 0.5 percent from August and up 5.8 percent from September 2018.
- September’s statewide median home price was $605,680, down 1.9 percent from August and up 4.7 percent from September 2018.
- Year-to-date statewide home sales were down 3.1 percent in September.
LOS ANGELES (Oct. 16) – Amid the most favorable mortgage interest rates in nearly three years, California’s housing market recorded a third consecutive year-over-year sales increase as month-over-month sales remained essentially flat, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) said today. 
Closed escrow sales of existing, single-family detached homes in California totaled a seasonally adjusted annualized rate of 404,030 units in September, according to ...

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Thursday, October 17, 2019   /   by Scott Ivey

Homeowners’ Top DIY Mistakes

Many homeowners attempting to save money on household projects are turning to DIY projects. But do-it-yourself fixes can be costly, shows a new survey from Clovered, a home insurance company.
Eighty-seven percent of more than 1,000 homeowners recently surveyed admitted to making a mistake while attempting a do-it-yourself home improvement project. The median amount spent on fixing those DIY mistakes was $137.50, the survey showed. Millennials tended to spend the most in fixing their mistakes, spending up to four times as much as baby boomers—$200 versus $50 post-mistake.
The top DIY mistake across all generations was starting a project without the necessary supplies or tools. Gen Xers tended to admit to picking the wrong paint, and millennials were the most often to skimp on materials, the survey showed.

Thirty-two percent of DIYers admit to having to contact a family member or friend to help them finish a home improvement project. Seventeen percent said t ...

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Wednesday, October 16, 2019   /   by Scott Ivey

September 2019 County Sales and Price Activity, Unsold Inventory and Days on Market

September 2019 County Sales and Price Activity

(Regional and condo sales data not seasonally adjusted)


Median Sales Price of Existing Single-Family Homes

Price MTM% Chg
Price YTY% Chg
Sales MTM% Chg
Sales YTY% Chg


Calif. Single-f

Calif. Condo/

Los Angeles

Central Coast

Central Valle

Inland Empire
5. ...

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Sunday, October 13, 2019   /   by Scott Ivey

Home sale under $400,000? An Appraisal May Not be Required if a Recent Fed Rule is Adopted.

A little over 10 years ago, California and nation suffered the greatest financial setback since the Great Depression of the 1930s. At the core of the Great Recession was deregulated mortgage securities that encourage high risk loans and inflating home prices that created unsustainable growth in the real estate market leading to a functional collapse of the real estate market causing hundreds of banks and business to fail and resulting in millions of Americans losing their homes to foreclosure. This was the legacy of the early 2000 deregulation of mortgages.
Now as we see home prices beginning to exceed the 2006 highs, no doc loans are reappearing in an effort to help more people qualify for loans, sub-prime lending options in places are on the rise again and now the FDIC and OCC have submitted to the Fed a proposed rule to eliminate the necessity of appraisals on certain home sales under $400,000. It is of course no surprise that most banks support this move while most consume ...

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