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» VISIT US ONLINE @ DSNEWS.COM 127 Sacramento's 95630 and San Jose's 95035 rounded out the top five with 73 percent of the offers facing competition. One notable market that was absent from the list was Seattle, with the report indicating that during the spring selling season, three out of four offers in the city had faced competition. "As of November, only about one of every five offers in the Seattle area faced competition, the lowest rate of Redfin's largest market," the report revealed. Golden State Home Sales Slow California home sales recorded the slowest growth in seven years with a decline in deals below $50,000, according to a CoreLogic report. e sales in the Golden State dropped on a year-over-year basis for the third consecu- tive month, hitting a seven-year low, the report found. It also pointed out that constraints in affordability and an increasing number of cau- tious buyers continue to weigh on the market. CoreLogic public records data found that approximately 38,159 new and existing houses and condos were sold statewide, recording an increase from 12.5 percent in September 2018. e report reflects an increase of 1.5 percent in the average change in sales since 2000. Year-over-year sales dropped, recording annual declines of 9.3 percent, 7.1 percent, and 17.1 percent this June, August, and September, respectively. Sales of $500,000 or more moved up by 0.4 percent and $1 million-plus deals is at 5 percent compared to last year. Sales below $500,000 fell 13.1 percent on a year-over-year basis. e report indicated that affordability took a serious hit, with a rise in mortgage interest rates rise and low inventory among lower-cost homes undermining sub-$500,000 sales. According to CoreLogic, the median price paid for all new and existing houses and con- dos sold across the state in October 2018 was $487,000—up 0.4 percent from September and up 5.9 percent from October 2017. An annual gain of 5.9 percent in October's median sale price is reflective of the impending affordability challenge many would-be buyers will face, the report noted. Over the past year, the state's median-priced homes projected a sharp increase in monthly principal-and- interest mortgage payment at 18.2 percent. Absentee buyers—including investors and second-home buyers—accounted for 22 per- cent of the state's home purchase transactions in October, up from 21.5 percent a year earlier, the report said. ers believe they will have enough money in retirement. "We're building solutions to help Ameri- cans cope with this looming retirement issue," said Wendy Harrington, Figure CMO. "With rising interest rates, cash-out refinancing is an increasingly painful way to meet cash flow needs. Yet, for homeowners nearing or already in retirement, home equity may be the most important source of money they have to support retirement. By unlocking hard- earned equity with Figure Home Advantage, homeowners can aid their retirement with additional funds and less stress." Here's how Figure Home Advantage works. Figure buys the home and grants the seller(s) a lease that renews annually, putting the homeowners in charge of how long they stay. Homeowners get their proceeds in one lump sum to bolster their nest egg, cover their expenses, or fund what matters most to them. Figure takes care of the property management from there, covering property taxes, home- owner's insurance, and ongoing maintenance. Oakland Leads Most Competitive Housing Markets Competition among homebuyers is easing. In fact, it is at an eight-year low, according to a report by Redfin. Despite this cooling down, certain ZIP codes in California, Boston, and Washington, D.C., remain competitive. Top- ping the list is 96402 in Oakland, California, where 90 percent of offers faced competition in the September to November period. ZIP Code 20009, in Washington, D.C., was the next hotbed for warring homebuyers, with 85 percent of offers facing serious competi- tion from September to November 2018. is was an increase from the 67 percent seen in the area last year. Orange County, California's 92870 tied with 20009 for the second spot in the five most competitive markets in the country. ree ZIP codes—one each in San Francisco (94110); Washington, D.C. (20904); and Boston (01890)—tied for the third spot, with competition on offers rising to 80 percent. However, competition in the Washington, D.C., ZIP code of 20904 actually fell from 83 percent in the September to November period in 2017. Two Boston ZIP codes, 02148 and 02476, took the fourth spot with 79 percent of offers facing bidding wars in both these areas. How- ever, ZIP code 02148 saw a sizeable dip when compared to last year. CHRISTOPHER ROCKEY Former national real estate trainer for Fidelity National Financial. Give me a call, let's talk REO! Serving Sacramento, Placer, El Dorado, Santa Clara, and Contra Costa for more than 20 years. Rockey@RHomeSales.com 530.420.LIST ChristopherRockey.com YOUR QUEST FOR COMPLETE REO SERVICES ENDS HERE From BPO and occupancy checks to security and maintenance, we care for your property the way you do. The number of homes destroyed in the Camp Fire in California is equivalent to 18 months of active listing inventory, according to a report by Realtor.com. KNOW THIS

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