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Spacious, open concept home on a cul-de-sac street in the well kept Kelliwood Terrace neighborhood. Open to the den, the kitchen has a large island, breakfast bar, granite counter tops, tile backsplash, stainless-steel appliances, double-ovens, and a large stainless-steel undermount sink. This great home also has high-ceilings throughout, easy to care for hardwood floors and ceramic tile in the living areas, carpet in the bedrooms. You will love all the closet space. The relaxing primary bedroom suite has two closets. The huge primary bathroom has dual vanities, a jetted tub and a separate shower. There is a flex room currently being used as an office that could also be used as a fourth a bedroom. The garage has a large bonus room with air conditioning that can be used as a workout room, office, or storage.

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MBS Road Signs 2-13-23

Week of February 6, 2023 in Review

News on home price appreciation, mixed auction results, and tough talk from central banks around the world highlighted an otherwise quiet week:

Does the Future Look Good for Home Prices?

CoreLogic’s Home Price Index showed that home prices nationwide fell by 0.4% from November to December but they were 6.9% higher when compared to December of 2021. This annual appreciation reading declined from 8.6% in November but is still solid. CoreLogic forecasts that home prices will drop 0.2% in January but rise 3% in the year going forward.

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MBS Road Signs 2-6-23

Week of January 30, 2023 in Review

The Fed hiked its benchmark Fed Funds Rate, while there’s more to January’s job data than the headlines suggest. Plus, find out what the latest news on home price appreciation really means, all ahead in these stories:

Are More Fed Rate Hikes Ahead This Year?

As expected, the Fed hiked its benchmark Fed Funds Rate by 25 basis points at its meeting last Wednesday. The Fed has now hiked the Fed Funds Rate eight times since last March, bringing it to a range of 4.5% to 4.75%. The Fed Funds Rate is the interest rate for overnight borrowing for banks and it is not the same as mortgage rates. When the Fed hikes the Fed Funds Rate, they are trying to slow the economy and curb inflation.

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2023

2022

Ryan Lundquist

Thanks Ryan! You always have your pulse on the market! And although you are in Sacramento, there is enough resemblance in the market, to make this applicable in Southern California.  

See below to read the full post.

Markets in a Minute

The MBS Highway Survey, which is comprised of roughly 3,000 Mortgage and Real Estate Professionals, was just released for October. There is certainly a slowdown in activity and pricing pressure from September to October, with only 29% of respondents are still citing that their markets are active, while 71% note that it is slower. 5% of those surveyed are still seeing price increases, while 74% are seeing some degree of price decreases, although many of these are listing prices that are coming down to earth and not home value declines.

Ryan Lundquist

Thanks Ryan! You always have your pulse on the market! And although you are in Sacramento, there is enough resemblance in the market, to make this applicable in Southern California.  https://sacramentoappraisalblog.com/2022/09/27/chuck-norris-eats-7-mortgage-rates-for-breakfast/

Markets in a Minute

Ryan Lundquist

Thanks Ryan! You always have your pulse on the market! Checkout August 15th Blog post showing Orange County & LA county in the green with room for appreciation. https://sacramentoappraisalblog.com/…/the-inventory…/

PRICE GROWTH IS SLOWING: (By Ryan Lundquist):

Instead of being up 15-20% from last year, we’re starting to see stats closer to 6% or so (though each county is different). In a normal year we should see a slight dip for the next couple of months and then a bit of a flat median price trend. Let’s keep watching to see what happens. But there is a little bump sometimes in the fall too as buyers tend to have one last rush on the market before the holidays, so be on the lookout.

Markets in a Minute

DALLAS, TEXAS – Neighborhood Report 

https://staticaws.narrpr.com/Reports/be313390/b88d-4ca4-9709/b5bc4fa4cdab/Neighborhood-Report_Dallas-TX-75215_2022-07-22-22-37-14.pdf

2816 Birmingham Ave. Dallas, Texas – Home on Postcard 

https://www.narrpr.com/homes/tx/dallas/75215/2816-birmingham-ave/97627091-summary.aspx?orgid=txhar-n&listingid=79135461&pmode=1&ssocode=camrmls-n2&cbcode=camrmls-n2

MERIDIAN, IDAHO – Neighborhood Report 

https://staticaws.narrpr.com/Reports/be313390/b88d-4ca4-9709/b5bc4fa4cdab/Neighborhood-Report_Meridian-ID-83646_2022-07-23-00-07-40.pdf

2717 W Wapoot Dr. Meridian, Idaho – Home on Postcard 

https://www.narrpr.com/homes/id/meridian/83646/2717-w-wapoot-dr/73526907-summary.aspx?scid=150768881&orgid=idswrmls-n&listingid=98845046&pmode=1

NASHVILLE, TENNESSEE  –  Neighborhood Report 

https://staticaws.narrpr.com/Reports/be313390/b88d-4ca4-9709/b5bc4fa4cdab/Property-Report_5080-Moss-Rd-Nashville-TN-37221_2022-07-23-02-48-29.pdf

5080 Moss Rd Nashville Tennessee  – Home on Postcard 

https://www.narrpr.com/homes/tn/nashville/37221/5080-moss-rd/27553846-summary.aspx?orgid=txlbmls-n&listingid=1045749&pmode=1&ssocode=camrmls-n2&cbcode=camrmls-n2

WILLIAMS, ARIZONA  – Neighborhood Report 

https://staticaws.narrpr.com/Reports/be313390/b88d-4ca4-9709/b5bc4fa4cdab/Neighborhood-Report_Williams-AZ-86046_2022-07-22-21-47-13.pdf

7386 E. Knighthood Lane, Williams, Arizona  – Home on Postcard

https://www.narrpr.com/homes/az/williams/86046/7386-e-knighthood-ln/92910988-summary.aspx?scid=150768570&orgid=azlh-n&listingid=1021564&pmode=1