Economic News

On December 20, 2017, Congress passed a tax reform act (formerly known as the Tax Cuts and Jobs Act or the “Act”). President Trump is expected to sign the Act into law. The Act includes several major changes to many areas of the Internal Revenue...

The use of home equity lines of credit (HELOCs) continue to increase year over year. Here's what you need to know about their influence in the California housing market. A HELOC gives a homeowner access to draw on their home's equity as needed, much like a...

California’s housing market’s sales and price have increased in 2016 and 2017. It is forecasted that there will be a slight increase of .8% in existing home sales next year reaching 419,600 units. While the median home price for 2017 has risen to $525,000. ...

First-time homebuyers have a recorded tendency to overpay on their home purchase. A report by the Federal Housing Finance Agency (FHFA) identifies three reasons for overpayment by first-time homebuyers: first-time homebuyers are more eager to purchase than repeat homebuyers; they are less likely to identify mistakes in an appraiser’s report;...

Home prices on the rise slightly in California’s largest cities in April 2017. Home prices rose compared to the prior month across low-, mid- and high-price tiers in San Diego, Los Angeles and San Francisco. State wide, the average for low-tier property prices was 9% higher than...

While flipping increased nationally, the number of homes and condominiums flipped in California decreased in 2015. A recent report on 2016 housing trends now suggests home flipping may be gaining traction again in California.  The nation saw a 3.1% increase in flipped residences. These flipped residences are defined as a property...