California Real Estate and Mortgage Market Update Fall 2020 | CA Mortgage Broker
Real Estate Market: (0:30)
Mortgage Market Update: (3:53)
First Time Buyer Crisis: (0:46)
The California Real Estate Market continues to AMAZE. Low inventory and high demand are causing prices to rise rapidly. Listings in affordable communities are receiving an overwhelming amount of offers and unfortunately to get your offer accepted often you are having to remove appraisal and loan contingencies AND overbid. Now more than ever it’s critical you are working with a first class lender/realtor or you won’t have a chance. As sales prices increase, so do appraisal issues ie values not coming in. This will continue as long as there is a shortage of listings in affordable communities. It seems the low rates and property values will continue into the new year. Uncertainty abounds as, we do not yet know how the unemployment rate and forbearance will affect us in the months to come.
