A comprehensive and in depth look at the California Economy and Real Estate Market as told by Leslie Appleton-Young, Chief Economist at SILVAR (Silicon Valley Association of Realtors) in October of 2014.
Calvert Home Mortgage Real Estate & Economic Report December 2015Keith Uthe
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Calvert Home Mortgage provides a simplified breakdown of statistics and and information from the Calgary and Edmonton real estate markets and how they are affecting current home prices. You will also find the most recent statistics available for key Economic Fundamentals that influence the lending industry and real estate markets in Alberta.
Calvert Home Mortgage Real Estate and Economic Report for November 2015Keith Uthe
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Calvert Home Mortgage provides a simplified breakdown of statistics and and information from the Calgary and Edmonton real estate markets and how they are affecting current home prices. You will also find the most recent statistics available for key Economic Fundamentals that influence the lending industry and real estate markets in Alberta.
Calvert Home Mortgage Real Estate & Economic Report December 2015Keith Uthe
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Calvert Home Mortgage provides a simplified breakdown of statistics and and information from the Calgary and Edmonton real estate markets and how they are affecting current home prices. You will also find the most recent statistics available for key Economic Fundamentals that influence the lending industry and real estate markets in Alberta.
Calvert Home Mortgage Real Estate and Economic Report for November 2015Keith Uthe
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Calvert Home Mortgage provides a simplified breakdown of statistics and and information from the Calgary and Edmonton real estate markets and how they are affecting current home prices. You will also find the most recent statistics available for key Economic Fundamentals that influence the lending industry and real estate markets in Alberta.
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Leslie Appleton-Young, Chief Economist for the CALIFORNIA ASSOCIATION OF REALTORSĀ® (C.A.R.) 2014-2015 California Economic & Market Outlook presentation to kick off Partners Trust La CaƱada Grand Opening on November, 20th 2014.
California Association of REALTORS
California's Housing market Outlook 2015
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California Community College Real Estate Educators' Conference
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Record Homes Sales Again for July 2015! As was the case in June, Dane County home sales in July reached an all-time high for the month. Year-to-date sales are also setting a record pace ā exceeding the previous high recorded in 2005. New listings are keeping pace with recent years yet the active inventory continues to fall. This year has been positive as well for the primary market* served by the SCWMLS. Last month we stated that demand is expected to remain high for the second half of the year and nothing has happened to change our mind. As a result, inventories will remain low ā below the 6 month figure generally considered to be the market balance between buyers and sellers. Prices (and interest rates) will likely continue to rise. For both buyers and sellers, strategic advice and knowledge of the market from your real estate professional will be valuable assets.
Hermosa Beach real estate statistics and analysis for July 2015. Includes homes sales, listings and historical performance on a month to month and year over year basis.
Hermosa Beach real estate statistics and analysis for November 2015. Includes homes sales, listings and historical performance on a month to month and year over year basis.
Our second Housing Summit included current housing trends and a look at our economy.
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November 2014 Greater Boston Real Estate Market Trends ReportUnit Realty Group
Ā
Hereās November 2014ās Monthly Indicators report from the Greater Boston Association of RealtorsĀ®
Strong buyer activity and low interest rates have pushed prices up on the homes that did close in November. While overall inventory of homes for sale is down statewide, there continues to be pockets across the state that are seeing increases. As the holiday season got under way in November, the number of new listings added to the market went down.
ā¢ November single-family home sales ā Down 6.7% over last year.
ā¢ November Single-family median prices were UP 4.4% at $330,000
ā¢ November condo sales Down 10.2% and median prices UP 1.0% ($302,000)
ā¢ Inventory in November Down 13.2% to 19,068 and Condominiums Down 23.9% to 4,588
ā¢ SF listings added to the market in October Down 9.7% over last year. (3,575 from 3,958 in 2013)
ā¢ Condo listings added to the market Down 3.3% over last year. (1,343 from 1,389 in 2013)
Hermosa Beach real estate statistics and analysis for September 2015. Includes homes sales, listings and historical performance on a month to month and year over year basis.
Once again, new listings increased ā 4% for the month ā but the higher volume of sales continues to keep the number of homes for sale very lean. Only 3.06 months of active inventory is now available compared to 4.5 months just one year ago.
Across the eight county primary market region of the South Central Wisconsin MLS, sales increased 3.8% in October and now stand 11.7% ahead of last year. The median price increased as well ā up 7.2% for the month and 6.2% year-to-date. All counties are equaling or exceeding 2014 in year-to-date sales and median prices.
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There are very few things in this world as intimidating as buying a home. The knowledge required to purchase a home includes learning about a number of different (and complex) professional industries: mortgage, real estate, inspection, appraisal, title and insurance.
The following infographic outlines the home buying process, and helps relieve some of the stress that may arise as you move through the purchase whether it is your very first time or hundredth.
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Strong buyer activity and low interest rates have pushed prices up on the homes that did close in November. While overall inventory of homes for sale is down statewide, there continues to be pockets across the state that are seeing increases. As the holiday season got under way in November, the number of new listings added to the market went down.
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Thinking of selling your home in Santa Cruz or Santa Clara county? Take a gander at my unique selling proposition, my services, and business model. Lets not list your home, lets sell it quickly for the price and terms that work for you!
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The SVNĀ® organization shares a portion of their new weekly listings via their SVN LiveĀ® Weekly Property Broadcast. Visit https://svn.com/svn-live/ if you would like to attend our weekly call, which we open up to the brokerage community.
Elegant Evergreen Homes - Luxury Apartments Redefining Comfort in Yelahanka, ...JagadishKR1
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Experience unmatched luxury at Elegant Evergreen Homes, offering exquisite 2, 3, and 4 BHK apartments in the serene locality of Yelahanka, Bangalore. These meticulously crafted homes blend modern design with timeless elegance, providing a harmonious living environment. Enjoy top-tier amenities and a prime location, making Elegant Evergreen Homes the ideal choice for discerning homeowners.
Lixin Azarmehr, a Los Angeles-based real estate development trailblazer, co-founded JL Real Estate Development (JL RED) in 2015 and serves as its CEO. Her expertise has propelled the firm to specialize in luxury residential and mixed-use commercial projects, with a portfolio that features upscale retail spaces and sophisticated care facilities.
Investing In The US As A Canadianā¦ And How To Do It RIGHT!! (feat. Erwin Szet...Volition Properties
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=== Investing In The US As A Canadianā¦ And How To Do It RIGHT!! (feat. Erwin Szeto) ===
Ever been curious about Real Estate Investing in the US?? At Volition, for the past 14 years, we have been focused on helping investors invest in over $250M of real estate and generate $100M of wealth in the Toronto market, but we are always open to learning more about other business models and learning from other investors.
The US has always been an intriguing market to invest in. But the US is a big placeā¦ if youāre interested in investing in the US, you probably have a lot of questions, like:
āļø Specifically WHERE should you invest?
āļø What are the best markets to invest in and why?
āļø How much are property prices there?
āļø What are the returns like?
āļø What is cashflow like?
āļø Compared to investing in Toronto or other cities in Ontario, what are the benefits / tradeoffs?
āļø What ownership structure should I use?
āļø What are the tax implications?
āļø Can I get financing?
āļø What are tenants like?
Enter Erwin Szeto, a longtime friend of Volition. Since 2005, Erwin Szeto and his team have navigated the challenging landscape of being landlords in Ontario. Now, they are shifting their focus and guiding their clients' investments toward the more landlord-friendly environment of the USA. This decision comes after assisting Canadian clients in transacting over $440,000,000 in income properties. Faced with issues like affordability constraints, tenant-friendly laws, rent control, and rental licensing in Canada, Erwin sees a clear opportunity in the U.S. Here, there is a significant influx of investments leading to the creation of high-paying manufacturing jobs. Erwin and his clients are poised to capitalize on these opportunities where landlord rights are stronger and there is no rent control.
To facilitate this transition, Erwin has partnered with and become a client of SHARE, a one-stop-shop U.S. Asset Manager. Founded by Canadians for Canadians, SHARE enables as passive an ownership experience as possible for landlords in the U.S., while still maintaining direct, 100% ownership.
Erwin is āMaking Real Estate Investing Great Againā!!
Website: https://www.infinitywealth.ca/
Facebook: https://www.facebook.com/iwinrealestate and https://www.facebook.com/ErwinSzetoOfficial
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Instagram: https://www.instagram.com/iwinrealestate/ and https://www.instagram.com/erwinszeto/
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Sense Levent offers a luxurious living experience in the heart of Istanbulās vibrant Levent district.
This cutting-edge development seamlessly integrates modern design with natural elements, featuring live evergreen plants maintained by an advanced irrigation system, ensuring lush greenery year-round.
The buildingās elegant ceramic balconies are both stylish and durable, enhancing the overall aesthetic and functionality. Residents can enjoy the 700m Sky Lounge, which provides breathtaking views of Istanbul and a perfect space to relax and unwind.
Sense Levent promotes a healthy and active lifestyle with a full gym, swimming pool, sauna, and steam room, all available in the building. The interiors are crafted with high-quality materials, ensuring a luxurious and inviting living space.
Designed with young professionals in mind, Sense Levent features 1+1 and 2+1 units with smart floor plans and balconies. The project promises high investment returns, with an expected annual return of 6.5-7%, significantly above Istanbulās average ROI.
Located in the rapidly growing and highly desirable Levent area, the development benefits from ongoing urban regeneration projects. Its prime location offers proximity to shopping malls, municipal buildings, universities, and public transportation, adding immense value to your investment.
Early investors can take advantage of discounted units during the construction phase, with an expected capital appreciation of +45% USD upon completion. Property Turkey provides comprehensive rental management services, ensuring a seamless and profitable investment experience.
Additionally, robust legal support and significant tax advantages are available through Property Turkeyās licensed Real Estate Investment Fund. Levent is a dynamic urban hub, ideal for young professionals with its numerous corporate headquarters and shopping malls.
Sense Levent is more than just a residence; itās a place where dreams and opportunities come to life. Contact us today to secure your place in this exclusive development and experience the best of Istanbul living. Sense Levent: Sense the Opportunity. Live the Dream.
https://listingturkey.com/property/sense-levent/
Torun Center Residences Istanbul - Listing TurkeyListing Turkey
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THERE IS LIFE IN ITS CENTER!
The most energetic spot of the city that will add utterly different pleasures to your life, with a park that will make Istanbul breathe, delighting indoor and outdoor bistros, cafes, restaurants, the brand-new Food Hall concept, where dozens of unique tastes are served together, market area, cinema, theater, fitness club, SPA and event venue...
All the pleasures that will enrich your lives are awaiting you on the most beautiful side of the city, at Torun Center Residences. In Mecidiyekƶy, where the heart of Istanbul beats, business, life and entertainment opportunities are located at the exact center, at Torun Center, the most beautiful side of the city.
Penthouse apartments and different styles of flats from 1 + 1 to 4 + 1, from 100 to 425 square meters in a 42-story residence tower, have been designed for those who want to live in the center of magnificence. Torun Center is the redefinition of a better life with specially landscaped floor gardens, apartment options with private balconies, and automatic glass systems equipped with Trickle Ventilation that offers clean air comfort.
Business and life in the same place
Excellent service
Torun Center has many delightful details, from a swimming pool to sunbathing and resting terrace. With 24/7 concierge services, 24/7 security, valet, technical service, closed-circuit camera system (CCTV), central heating and cooling system, it makes your life easier.
Delightful details
The two-story Torun Center Lounge, with its indoor and outdoor seating areas, children's playroom, private dining and TV lounge, promises unforgettable memories to you and your loved ones with its unique Istanbul view.
Neighboring to the most pleasant square of Istanbul
A few steps from the Torun Center Residences, you can reach the city's most modern city square and open the doors of a quality city life. Torun Center Residences brings together on the same project the long-awaited city life for Istanbul and gourmet restaurants, cafes, gym and SPA, and state-of-the-art cinema and Artı Stage, hosting the most famous plays of the season.
Located at the intersection of alternative public transportation options such as the metro and Metrobus, Torun Center comes to the fore as the most accessible office for both sides of Istanbul. With a central location and rich transportation lines, Torun Center offices make life easier for employees and increase productivity.
Referans Bahcesehir which is being constructed, in the center of the most regional destination as BahƧeÅehir, shines out with its central location and unique landscape including social facilities such as a fitness center, sauna, sports facilities, childrenās playground and recreational areas.
Not only drawing attention for immediate surroundings including commercial centers and private schools but also providing the easily accessible location with closeness to Tem Highway and connection roads, ongoing construction of 3rd Bridge Connection roads and Metro Projects
Bahcesehir is a rising value in the great city of Istanbulā¦ Located at a new transportation junction in the northwest of the Cityā¦ Located at such a spot that the access roads for the 3rd bridge and for the 3rd Airport will reach the region in 2016. The Marmaray and the Subway will extend all the way to Referans Bahcesehir respectively in 2018 and 2019.
465 flats and 34 stores are designed with an outstanding approach and arranged with a unique perspective offering the following options: 1 plus 1, 2 plus 1, 3 plus 1, 3.5 plus 1, 4 plus 1, and 4.5 plus 1. It is planned so as to safeguard you and your loved ones based upon a modern, technological safety approach. As you experience the joy and luxury here, you will be content and feet at ease.
It is worth seeing both inside and outside with heart-warming cafes, tasty restaurants and elegant storesā¦ And it is ready to offer a vivacious social life with a warm and cozy space design.
A folding swimming pool and indoor swimming pools, playgrounds, Turkish bath, saunaā¦ It has them all. Everything you need for your well-being and for having a pleasant time will be at your service. You simply need to align the rhythm of life with the rhythm of Referans Bahcesehir.
https://listingturkey.com/property/referans-bahcesehir/
Flat available for sale
Location- Tupudana, Ranchi
Savitri enclave
Area- 3BHK
Rate- 4000/sq.ft.
Super Build Up Area-1629 sq.ft.
Build-up area-1253 sq.ft.
Rate- 65lakh16k(approx)
Floor available- Flat available in all floor(G+12)
Balcony- 2
Washroom- 2
Parking - CAR PARKING
Amenities- Joggers track,temple, children's park,gym,banquet hall (5 Lakh)
Possession year (Handover year)- Dec 2025
Outside View from the apartment and flat balcony is very beautiful.
For more information contact AASHIYANA STAR PROPERTIES
7766900371
Keep Your Home Naturally Cool and Warm Out Change in Seasons
Vinra Construction is a private limited company registered under the ROC. The management has an experience of over 15 years of understanding the needs and delivering apt solutions to the end users We are providing turnkey solutions in construction fields. like Construction, Interior Designing Facility Management, Plantation Management, etc..
Vinra Construction Tech Enabled Company for Eco-Friendly Home Construction
Contact With Vinra for a Greener Future >>> Call us @ 888 4898 765
Omaxe Sports City Dwarka stands out as a premier residential and recreational destination, offering a blend of luxury and sports-centric living. Located in the thriving area of Dwarka, this project by Omaxe Limited is designed to cater to modern lifestyle needs while promoting a healthy, active living environment.
Need MCA leads? No sweat! MCAs are great for small biz funding. Learn how to snag top-notch leads: businesses needing cash, with repayment ability, decision-makers, and accurate contacts. Use content, social ads, lead platforms, partnerships, and capture processes for quality leads.
https://www.leadgeneration.media/blog/b/streamline-your-mca-sales-process-with-pre-qualified-leads
Brigade Insignia offers meticulously designed apartments with modern architecture and premium finishes. The project features spacious 3,3.5,4 and 5 BHK units, each thoughtfully planned to provide maximum comfort, natural light, and ventilation.
https://www.newprojectbangalore.com/brigade-insignia-yelahanka-bangalore.html
500 acres of brilliance await you here at Riverview City which offers modern living, effortless convenience, and a beautiful natural setting. It is a mega township by Magarpatta City in Loni Kalbhor, Pune. Enjoy easy access to work, schools, and fun while experiencing a perfect work-life balance.
Visit - magarpattacity.developerprojects.in
Simpolo Tiles & Bathware
Tile ho,
toh Simpolo.
Since the first steps were taken in 1977, Simpolo Ceramics has carved its niche as a consistently growing organisation with unparalleled innovation and passion rooted in simplicity.
We endure gratification for every experience we offer, created to share something meaningful. It may not resonate with the majority, but that makes us a class apart. If only a handful were to understand the purpose of our existence, we would be proud to have found our believers. Rather, people with whom we can share our beliefs.
VISUALIZER
Design your space in your style with our very own Visualizer. Now, you can choose the tiles of your liking from our wide selection and see how they would look in a space. Select the tile from the multiple options and the visualiser will replace the surfaces in the image with the selected tiles. This way, instead of just your imagination, you can choose the tiles for your place by getting an actual picture of how they would look in a space. So, design your space the way you desire digitally and implement it in real life to get the best results!
You can also share this visualiser with others to help them design their space.
Committed to delighting customers with world-class ceramic products and services. Make Simpolo synonymous with the best quality and set new benchmarks of excellence for all stakeholders. Pursue best business practices with utmost integrity to make Simpolo an exciting organisation to work with, for vendors, channel partners, investors and employees alike.
Gain worldwide recognition in the field of ceramic building products through Research and Innovation and bring an enhanced lifestyle within reach for every household.
5. US UNEMPLOYMENT RATE BELOW 6%
CA - 7.3% (Sep. 2014) vs. US - 5.9% (Sep. 2014)
-4%
-2%
0%
2%
4%
6%
8%
10%
12%
14% US-CA CA US
SERIES: Unemployment Rate
SOURCE: US Bureau of Labor Statistics, CA Employment Development Division
6. EMPLOYMENT GROWTH, CAVS. U.S.
-8
-6
-4
-2
0
2
4 California US
ANNUAL PERCENT CHANGE
SERIES:Total Nonfarm Employment
SOURCE: US Bureau of Labor Statistics, CA Employment Development Division
8. EMPLOYMENT GROWTH, BY INDUSTRY
-25%
-20%
-15%
-10%
-5%
0%
5%
10%
15%
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
Construction Manufacturing Service
ANNUAL PERCENT CHANGE
SERIES:Total Nonfarm Employment By Industry
SOURCE: CA Employment Development Division
September 2014: CA +2.3%, +390,600
9. CALIFORNIA JOB CHANGES BY INDUSTRY
-2.2%
-1.7%
-0.3%
0.9%
1.3%
1.4%
1.5%
1.5%
2.1%
2.3%
3.3%
4.7%
4.9%
5.3%
6.2%
-3% -2% -1% 0% 1% 2% 3% 4% 5% 6% 7%
Nondurable Goods
Finance & Insurance
Government
Durable Goods
Educational Services
WholesaleTrade
RetailTrade
Transportation, Warehousing & Utilities
Real Estate & Rental & Leasing
Leisure & Hospitality
Health Care & Social Assistance
Professional, Scientific &Technical Services
Information
Admistrative & Support &Waste Services
Construction
SERIES:Total Nonfarm Employment By Industry
SOURCE: US Bureau of Labor Statistics, CA Employment Development Division
September 2014: CA +2.3%, +390,600
ANNUAL PERCENT CHANGE
10. JOBTRENDS BY CALIFORNIA METRO AREA
1.1%
1.3%
1.7%
1.8%
1.9%
2.0%
2.0%
2.1%
2.5%
2.5%
3.5%
3.7%
0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% 4.0%
Modesto
Stockton MSA
Bakersfield
Los Angeles
Orangeā¦
Ventura
Oakland
Sacramento
Fresno MSA
San Diego
San Jose
San Francisco
SERIES:Total Nonfarm Employment
SOURCE: CA Employment Development Division
ANNUALPERCENTCHANGE
September 2014: CA +2.3%, +390,600
11. CONSUMER PRICE INDEX
September 2014:All Items +1.7%YTY; Core +1.7%YTY
-3%
-2%
-1%
0%
1%
2%
3%
4%
5%
6% All Items Core
ANNUAL PERCENT CHANGE
SERIES: Consumer Price Index
SOURCE: US Bureau of Labor Statistics
14. FORECASTERS HAVE BEEN EXPECTING
RATESTO RISE
Percent
0
1
2
3
4
5
6
0
1
2
3
4
5
6
2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Actual 10-year Treasury yield (solid black line)
Predictions out to five quarters ahead of professional forecasters (hatched lines)
Percent
SERIES: Loan Officer Survey
SOURCE: Philadelphia Federal Reserve Survey of Professional Forecasters, Bloomberg
15. MORTGAGE RATES + 1% SPRING 2013
ACTUALTAPERING? NO IMPACT?
0%
1%
2%
3%
4%
5%
6%
7%
8% FRM ARM Federal Funds
SERIES: 30Yr FRM, 1Yr ARM, Federal Funds
SOURCE: Federal Home Loan Mortgage Corporation
16. U.S. DEPOSITORY INSTITUTIONS:
HIGH LEVEL OF EXCESS RESERVES SINCE 9/08
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
SERIES: Excess Reserves of Depository Institutions
SOURCE: Federal Reserve Bank of Saint Louis
$ BILLIONS
17. U.S. ECONOMIC FORECAST
Gross Domestic Product
Nonfarm Job Growth
Unemployment Rate
Consumer Price Index
Real Disposable Income,
% Change
2011
1.8%
1.2%
8.9%
3.1%
1.3%
2012
2.8%
1.7%
8.1%
2.1%
1.5%
2013
1.9%
1.7%
7.4%
1.5%
0.7%
2014 P
2.2%
1.8%
6.2%
2.0%
2.6%
2015 F
3.0%
2.2%
5.8%
2.2%
2.6%
SERIES: U.S. Economic Outlook
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
18. CALIFORNIA ECONOMIC FORECAST
SERIES: CA Economic Outlook
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Nonfarm Job Growth
Unemployment Rate
Population Growth
Real Disposable Income,
% Change
2011
1.1%
11.8%
0.7%
1.9%
2012
2.4%
10.4%
0.7%
1.1%
2013
3.0%
8.9%
0.9%
0.9%
2014 P
2.2%
7.5%
0.9%
3.0%
2015 F
2.4%
6.7%
0.9%
3.8%
20. TODAYāS MARKET
ā¢ Clearly well on the road to recovering - Bay Area
strongest regional market
ā¢ Volume ā A bit down, still reliant on investment sales
ā¢ Prices up sharply, but increases slowing in most markets
ā¢ Inventory remains tight but up from last year
ā¢ Pent-up/unrealized demand not yet translating into sales
ā¢ Affordability challenges emerging once againā¦
21. CA SALES FLAT SINCE SPRING 2014
California, Sep. 2014 Sales: 396,440 Units, -9.5%YTD, -4.2%YTY
-
100,000
200,000
300,000
400,000
500,000
600,000
700,000
*Sales are seasonally adjusted and annualized
SERIES: Sales of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Sep-14:
396,440
Sep-13:
413,850
22. MULTIPLE OFFERS DECLINEWITH LESS
INTENSE MARKET COMPETITION IN 2014
AFTER PEAKING IN 2013
72%
53%
5.7
4.3
0
1
2
3
4
5
6
7
0%
10%
20%
30%
40%
50%
60%
70%
80%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
% with Multiple Offers # of Multiple offers (Average)
SERIES: 2014 Housing Market Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
23. 49 % SOLD BELOW ASKING IN 2014
7%
11%
28%
54%
0% 20% 40% 60%
20% or more
10% to 19.99%
5% to 9.99%
Less than 5%
% of Price Reduction
(Properties Sold Below Asking Price)
49%
18%
33%
Sale Price to Asking Price
BelowAsking Price At Asking Price Above Asking Price
SERIES: 2014 Housing Market Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Median Reduction:
4.5% of List Price
24. 50%
33%
0%
10%
20%
30%
40%
50%
60%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
% of Sales above Asking Price
Long Run Average = 19%
FEWER HOMES SOLD ABOVETHE ASKING PRICE AS
MARKET COMPETITION COOLED IN 2014
0
2
4
6
8
10
12
14
16
0%
1%
2%
3%
4%
5%
6%
7%
8%
9%
10%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Med. Price Discount
Med.Weeks on MLS
0%, 2.1
weeks
Median Price Discount & Weeks on Market
QUESTION: What was the original list sales price of the property?What was the final sales price of the property? How many
weeks did the property remain on the MLS?
SERIES: 2014 Housing Market Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
25. INVESTMENT HOMES : 15% MARKET
SHARE
19%
15%
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
Long Run Average: 12 %
SERIES: 2013 Housing Market Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
26. WEāVE COME A LONGWAY SINCE 2009:
EQUITY SALES: 9 OUT OF 10TRANSACTIONS
91.0%
4.6%
4.0%
0%
10%
20%
30%
40%
50%
60%
70%
80%
90%
100%
Jan-09
Apr-09
Jul-09
Oct-09
Jan-10
Apr-10
Jul-10
Oct-10
Jan-11
Apr-11
Jul-11
Oct-11
Jan-12
Apr-12
Jul-12
Oct-12
Jan-13
Apr-13
Jul-13
Oct-13
Jan-14
Apr-14
Jul-14
Equity Sales Short Sale REO
SERIES: Distressed Sales, Not Seasonally Adjusted
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
27. DISTRESSED SALES: BAY AREA
Percent ofTotal Sales
0%
10%
20%
30%
40%
50%
60%
Alameda Contra Costa Marin Napa Solano Sonoma
2.5% 2.9% 1.8%
4.5%
13%
4.2%
23% 22%
25%
36%
60%
32%
Aug-14 Aug-12
SERIES: Distressed Sales, Not Seasonally Adjusted
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
34. SALES GROWING IN HIGHER PRICE RANGES
SERIES: Sales of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
-22.9%
-0.7%
-2.9%
4.9% 5.9%
2.8%
18.5%
28.3%
-30%
-20%
-10%
0%
10%
20%
30%
40%
Sep-14Year-over-Year % Chg. in Sales
35. CHANGE IN SALES BY PRICE RANGE
(Year-to-Year)
-22.9%
9.0%
-0.7%
-2.9%
4.9%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
30%
40%
50%
60%
70%
$0 - $200k $500k+ $200 - $300k $300 - $400k $400 - $500k
SERIES: Sales of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
36. PRICE PLATEAU AHEAD; ANNUAL GAINS
SLOWING
California, Sep. 2014: $460,940, Up 7.6%YTY
SERIES: Median Price of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Sep-14:
$460,940
Sep-13:
$428,290
$-
$100,000
$200,000
$300,000
$400,000
$500,000
$600,000
$700,000
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Jul-08
Jan-09
Jul-09
Jan-10
Jul-10
Jan-11
Jul-11
Jan-12
Jul-12
Jan-13
Jul-13
Jan-14
Jul-14
P: May-07
$594,530
T: Feb-09
$245,230
-59% from
peak
37. TROUGHVS. CURRENT PRICE
By Counties, August 2014
SERIES: Median Price of Existing Detached Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Region Trough
Month
Trough
Price
Aug-14
Median
%Chg Fr
Trough
Santa Barbara Mar-09 $296,590 $806,030 171.8%
Monterey May-09 $203,500 $492,500 142.0%
Alameda Jan-09 $346,236 $732,220 111.5%
Lake Jun-11 $85,620 $178,330 108.3%
California Feb-09 $245,230 $480,280 95.8%
Santa Clara Feb-09 $445,000 $865,000 94.4%
Merced Jan-10 $96,670 $186,670 93.1%
Los Angeles May-10 $248,850 $474,640 90.7%
Tehama Feb-11 $83,330 $156,000 87.2%
Riverside Apr-09 $171,480 $318,640 85.8%
39. INVENTORY IMPROVING FROM LASTYEAR
Sept 2013: 3.6 Months; Sept 2014: 4.2 Months
Note: āUnsold Inventory Indexā represents the number of months it would take to sell the remaining inventory for the month in question. The
remaining inventory for the month is defined as the number of properties that were āActiveā, āPendingā, and āContingentā (when available) and
divide the sum by the number of āSoldā properties for the month in question.
0
2
4
6
8
10
12
14
16
18
SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
40. INVENTORY HIGHER AT UPPER PRICE
RANGES
Note: āUnsold Inventory Indexā represents the number of months it would take to sell the remaining inventory for the month in question. The
remaining inventory for the month is defined as the number of properties that were āActiveā, āPendingā, and āContingentā (when available) and
divide the sum by the number of āSoldā properties for the month in question.
SERIES: Unsold Inventory Index of Existing Single Family Homes
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Price Range (Thousand) Sep-14 Aug-14 Sep-13
$1,000K+ 5.5 5.0 5.9
$750-999K 4.3 3.9 3.7
$500-749K 3.9 3.8 3.5
$400-499K 3.9 3.8 3.3
$300-399K 4.1 4.0 3.3
$200-299K 4.0 4.0 3.2
$0-199K 3.9 3.8 3.2
41. WHYWAS/IS INVENTORY SO LOW?
ā¢ Demand Side
ā Housing affordability was at historic highs
ā Low rates hurt investment alternatives
ā International buyers
ā¢ Supply Side
ā Little new construction for last 5 years
ā Underwater homeowners are stuck
ā Mortgage Lock-In Effect
ā No inventory to move up
ā Foreclosure pipeline drying up
ā Investors are renting instead of flipping
ā Off-market (aka āpocketā) listings
42. BUYINGTO RENTV. FLIP; CHANGE IN
PREFERRED INVESTMENT STRATEGY
Investment to Flip
Rental Property
SERIES: 2014 Housing Market Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
44. REAL ENEMY OFTHE FUTURE OF
CALIFORNIA?
ā¢ Housing Affordability
ā¢ TheAchilles Heel of the California Economy
ā¢ What happens when housing costs are too high?
ā¢ Impact on jobs and economic growth
ā¢ Impact on neighborhoods and family stability
45. HOUSING AFFORDABILITY DOWN
SHARPLY SINCE Q1 2012
% OF HOUSEHOLDSTHAT CAN BUY
A MEDIAN-PRICED HOME
SERIES: Housing Affordability Index ofTraditional Buyers
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
0%
10%
20%
30%
40%
50%
60%
70%
80% CA US
California vs. U.S. ā 1984-2014
Annual Quarterly
46. SOME GOOD NEWS:MEDIAN CA HOUSE
PAYMENTWELL BELOW PEAK
PEAK
$-
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
$4,000
Jan-80 Jan-83 Jan-86 Jan-89 Jan-92 Jan-95 Jan-98 Jan-01 Jan-04 2009 Q1
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
PITI/Month
Peak: $3,668/mo (2007 Q2)
Latest: $2,340/mo (2014 Q2)
47. ā¦ MINIMUM QUALIFYING INCOME
ALSOWELL BELOW PEAK
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
$140,000
$160,000
Jan-80Jan-82Jan-84Jan-86Jan-88Jan-90Jan-92Jan-94 Jan-
96
Jan-98Jan-00Jan-02Jan-04 2006
Q1
2012
Q1
Min. Income
Peak: $146,701/yr (2007 Q2)
Latest: $93,593/yr (2014 Q2)
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
48. HOUSE PAYMENT (INFLATION ADJUSTED)
IS AT LATE 1970āS LEVEL
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
PITI/Month
(ADJUSTED FOR INFLATION)
Peak: $928/mo (2006)
Latest: $458/mo (2013)
$-
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011
49. MINIMUM QUALIFYING INCOME ISTHE
SAME AS 35YEARS AGO
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Min. Income
(Adjusted for Inflation) Peak: $37,122 (2006)
Latest: $18,337 (2013)
$-
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
1975 1978 1981 1984 1987 1990 1993 1996 1999 2002 2005 2008 2011
50. HOUSING AFFORDABILITY INDEX
WhatWill HappenWhen MORTGAGE RATES
Increase?
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5%
35%
34%
32%
29% 27% 26%
24%
22%
Q2-2014 Median Price $457,140
20% Down payment
INTEREST RATE
% OF HOUSEHOLDSTHAT CAN BUY, ALL ELSE CONSTANT
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
51. MEDIAN MONTHLY MORTGAGE PAYMENT
WhatWill HappenWhen Mortgage Rates
Increase?
$0
$400
$800
$1,200
$1,600
$2,000
$2,400
3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5%
$1,542
$1,642
$1,746 $1,853
$1,963
$2,076
$2,193
$2,312
INTEREST RATE
MONTHLY MORTGAGE
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Q2-2014 Median Price $457,140
20% Down payment
52. MINIMUM QUALIFYING INCOME
WhatWill HappenWhen Mortgage Rates
Increase?
$0
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
3.0% 3.5% 4.0% 4.5% 5.0% 5.5% 6.0% 6.5%
$82,703
$86,717
$90,867 $95,149
$99,557
$104,087
$108,734
$113,490
INTEREST RATE
MONTHLY MORTGAGE
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Q2-2014 Median Price $457,140
20% Down payment
53. INCOME REQUIREDTO BUY A MEDIAN-
PRICED HOME IN CA: (PEAKVS. CURRENT)
$56,324
$93,593
$0
$20,000
$40,000
$60,000
$80,000
$100,000
2012 Q1 2014 Q2
ā¢ Change in minimum required income:
$37,269
ā¢ Increase in income attributed to
interest rate increase:
$836 (2.2% of total change)
ā¢ Increase in income attributed to price
increase :
$36,433 (97.8% of total change)
SERIES: Housing Affordability Index
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
54. SHARE OF FIRST-TIME BUYERS UP
BUT STILL BELOW LONG-RUN AVERAGE
28.1%
30.5%
0%
10%
20%
30%
40%
50%
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014
% First-Time Home Buyers Long Run Average
Long Run Average = 38%
QUESTION: Was the buyer a first-time buyer?
SERIES: 2014 Housing Market Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
55. WHY DOWE CARE ABOUT LOW LEVEL OF
FIRST-TIME BUYER?
ā¢ It signals a constrained flow of new households
in the housing market
ā¢ Trade-up market cannot be replenished in the
long run
ā¢ First-time buyers represent the main impulse
that drives the stateās homeownership rate
56. FINANCIAL CHARACTERISTICS:
FIRST-TIMEVS. REPEAT
SERIES: 2014 Housing Market Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
First-time Buyers Repeat Buyers All Buyers
Median Household Income $80,000 $120,000 $100,000
Median Monthly Mortgage Payment $1,477 $1,868 $1,800
Median Downpayment (in $$) $32,500 $100,000 $70,000
Median Downpayment (in % to Price) 10% 20% 19.7%
57. REASONS FOR RENTING INSTEAD OF
BUYING
SERIES: 2013 Renter Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
44%
9%
6%
6%
6%
5%
5%
3%
2%
Can't afford to buy
Poor credit / Can't qualify
Renting is easier
Young/Starting out/Not ready
Flexibility/Freedom if renting
Cost/Upkeep/Responsibility
Plan to / Saving for down
Never considered it/No interest
Disabled/On disability
58. STUDENT LOAN DEBT AN ISSUE FOR 25% OF
RENTERS
SERIES: 2013 Renter Survey
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Yes, 23%
No, 75%
Refused,
2%
Student Loan Debt
78%
8%
6%
3%
2%
2%
<$10,000
$10-$20K
$20-$50K
$50-$100K
> $100K
Refused
Amount of Debt
63. CALIFORNIAāS HOUSING DELEMMA
ā¢ Even with everything (or at least most things)
going right, our homeownership market is in
troubleā¦
ā¢ The rental market, even with the conversion of
500,000 SFHās, is still exhibiting inadequate
supply
64. HOWTO MAKE IT MORE AFFORDABLE?
ONEWORD: SUPPLY
ā¢ CA Housing Needs = Minimally 165,000 Units
Annually
ā Regulatory Problem
ā Impact Fees
ā Public Attitudes
65. CA PERMITS UP BUT MORE UNITS NEEDED
2013: 57,496 Units, Up 43.0% from 2012
SERIES: New Housing Permits
SOURCE: Construction Industry Research Board
0
50000
100000
150000
200000
250000
300000
350000 Single Family Multi-Family
Household Growth: 220,000-250,000/yr
70. FORSALEPROPERTIES
Santa Clara County, September 2014: 2,598 Units
Down 4.0% MTM, Down 10.8%YTY
Note: āFor Sale Propertiesā represents the overall supply that exist throughout the entire month, including any listings that appear as āActiveā any
point in time during the month.
SOURCE: Clarus Market Metrics
71. MONTHāSSUPPLYOFINVENTORY
Santa Clara County, September 2014: 1.5 Months
Note: āMonthās Supply of Inventoryā represents the number of months it would take to sell the remaining inventory for the month in question. The
remaining inventory for the month is defined as the number of properties that were āFor Saleā on the last day of the month in question. The inventory
figure is then divided by the number of properties that went Under Contract during the month.
SOURCE: Clarus Market Metrics
75. FORSALEPROPERTIES
City of Santa Clara, September 2014: 77 Units
Down 30.6% MTM, Down 35.8%YTY
Note: āFor Sale Propertiesā represents the overall supply that exist throughout the entire month, including any listings that appear as āActiveā any
point in time during the month.
SOURCE: Clarus Market Metrics
76. MONTHāSSUPPLYOFINVENTORY
City of Santa Clara, September 2014: 0.9 Months
Note: āMonthās Supply of Inventoryā represents the number of months it would take to sell the remaining inventory for the month in question. The
remaining inventory for the month is defined as the number of properties that were āFor Saleā on the last day of the month in question. The inventory
figure is then divided by the number of properties that went Under Contract during the month.
SOURCE: Clarus Market Metrics
80. FORSALEPROPERTIES
San Jose, September 2014: 1,396 Units
Down 5.7% MTM, Down 12.2%YTY
Note: āFor Sale Propertiesā represents the overall supply that exist throughout the entire month, including any listings that appear as āActiveā any
point in time during the month.
SOURCE: Clarus Market Metrics
81. MONTHāSSUPPLYOFINVENTORY
San Jose, September 2014: 1.5 Months
Note: āMonthās Supply of Inventoryā represents the number of months it would take to sell the remaining inventory for the month in question. The
remaining inventory for the month is defined as the number of properties that were āFor Saleā on the last day of the month in question. The inventory
figure is then divided by the number of properties that went Under Contract during the month.
SOURCE: Clarus Market Metrics
85. FORSALEPROPERTIES
Palo Alto, September 2014: 83 Units
Up 15.3% MTM, Up 3.8%YTY
Note: āFor Sale Propertiesā represents the overall supply that exist throughout the entire month, including any listings that appear as āActiveā any
point in time during the month.
SOURCE: Clarus Market Metrics
86. MONTHāSSUPPLYOFINVENTORY
Palo Alto, September 2014: 1.1 Months
Note: āMonthās Supply of Inventoryā represents the number of months it would take to sell the remaining inventory for the month in question. The
remaining inventory for the month is defined as the number of properties that were āFor Saleā on the last day of the month in question. The inventory
figure is then divided by the number of properties that went Under Contract during the month.
SOURCE: Clarus Market Metrics
88. CALIFORNIA HOUSING MARKET FORECAST
SERIES: CA Housing Market Outlook
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
SFH Resales (000s)
% Change
Median Price ($000s)
% Change
Housing Affordability Index
30-Yr FRM
2011
422.6
1.4%
$286.0
-6.2%
53%
4.5%
2012
439.8
4.1%
$319.3
11.6%
51%
3.7%
2013
413.3
-5.8%
$407.2
27.5%
36%
4.0%
2014 P
380.5
-8.2%
$455.0
11.8%
30%
4.3%
2015 F
402.5
5.8%
$478.7
5.2%
27%
4.5%
89. CALIFORNIA HOUSING MARKET OUTLOOK
Sales Down for 2014 but will Improve in 2015; Price Gains
Slowing
Units
(Thousand)
380 403
0
100
200
300
400
500
600
700
2005 2007 2009 2011 2013 2015f
Sales of Existing Detached Homes
$455
$479
$0
$100
$200
$300
$400
$500
$600
2005 2007 2009 2011 2013 2015f
Median Price
Price
(Thousand)
SERIES: CA Housing Market Outlook
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
90. CA: DOLLARVOLUME UP FOR 4THYEAR
$301
$244
$164
$133 $131 $127 $121
$140
$169 $173
$193
-40%
-30%
-20%
-10%
0%
10%
20%
30%
$0
$50
$100
$150
$200
$250
$300
$350
$400
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014p 2015f
$Volume of Sales Percent Change
% Change$ in Billion
-60%
SERIES: CA Housing Market Outlook
SOURCE: CALIFORNIA ASSOCIATION OF REALTORSĀ®
Up 2.7% in 2014, Up 11.3% in 2015
91. REAL ESTATE IS CONSIDEREDTHE BEST
LONGTERM INVESTMENT
SOURCE: Gallup
92. āMake no mistake about it, the way that working-
class people build wealth is through
homeownership, not the stock market, not their
401(k) and not a pension.ā
JohnTaylor, President of the National Community
Reinvestment Coalition,
93. ATTITUDETOWARDTHE HOME BUYING PROCESS ā
MIXED RESULTS
SOURCE: How would you describe your attitude towards the home buying process?
C.A.R. 2014 Millennial Survey
0%
10%
20%
30%
40%
50%
60%
Positive Negative Neutral N/A Other
50%
34%
8%
4%
4%
94. MOST MILLENNIALS UNCERTAIN/DOUBTFUL
THATTHEY COULD OBTAINA MORTGAGE
NOW?AMILLENNIAL ETHNICITY
SOURCE: C.A.R. 2014 Millennial Survey
Q: Could you obtain a mortgage if you applied now ?
Yes 22%
No 33%
Don't know
45%
95. PEOPLEWOULD PREFERTHE FOLLOWING OVER
GOINGTHROUGHTHE HOME MORTGAGE PROCESS
AGAIN:
SOURCE: Guaranteed Rate Mortgage Survey of 1,000 adults 25 and older USA Today April 2014