“Deflation is a fall in the general price level or a contraction of credit and available money (opposed to inflation).” Deflation is rare in the global economies of today. This is due primarily to central banks who around the world have engaged in a campaign to create a consistent inflationary environment for their own economies. This has worked […]
Tuolumne County Real Estate Market Trends
The chart above shows the Tuolumne County Association of Realtors latest stats for the real estate market in Tuolumne County. Where the average sales price has dropped 12% since the second quarter last year. Foreclosures are also way up and the luxury home market has seen a 35% decline in sold prices. It is not […]
State Farm and AllState Halting Homeowners Insurance Sales in California
Last week Californians took another economic hit just before the fire season, as both State Farm and AllState said they will stop selling homeowners insurance in California. State Farm attributed the decision to three factors: “historic increases in construction costs outpacing inflation, rapidly growing catastrophe exposure, and a challenging reinsurance market.” Reinsurance is a method […]
California Association of Realtors Market Update
Policy makers in Washington D.C. avoided a default on its debt obligations as Congress and the Whitehouse engineered a last-minute deal to raise the debt limit. In anticipation of the agreement, mortgage rates have already been heading down for several days after having risen above 7% as worries over the debt ceiling reached fever pitch. […]
Experts Point to Benefits of Selling Now
Article by Current Matters: “If you’re trying to decide if now’s the time to sell your house, here’s what you should know. The limited number of homes available right now gives you a big advantage. That’s because there are more buyers out there than there are homes for sale. And, with so few homes on […]
2023 Real Estate Challenges Ahead
In order to understand the real estate market trends for 2023 let’s take a look at some economic factors: Interest rates, affordability, housing shortage and home sales. Interest Rates During 2022, the Federal Reserve Bank increased mortgage interest rates 7 times as seen in this chart. Once the rate of inflation was going up they moved […]
