Thursday, August 20, 2015

U.S. housing is finally lifting itself off the mat.


The latest evidence came from Home Depot (HD). The world's largest home improvement retailer on Tuesday revealed it experienced a record number of transactions in the last three months. On average, shoppers spent more than at any point since 2006 and sales at stores open for a year or more jumped 6%.

All of that suggests Americans are ramping up spending on efforts to spruce up newly-purchased homes or ones they'd like to sell. While housing might not be back to pre-crisis levels, it's certainly looking a lot healthier.

"We continue to see positive signs in the housing market," Carol Tome, Home Depot's chief financial officer, told analysts during a conference call.

Home Depot is confident enough to upgrade its outlook for the rest of 2015. Investors loved the news, driving Home Depot stock up 3% to all-time highs. It's up 47% over the past year.

So are you ready to move up to a larger home?  Or maybe you're a first-time homebuyer?

Give me a call and let's get on with the quest to find your perfect home!

Ken
951-760-3833
KenAHall@gmail.com

Wednesday, August 12, 2015

Getting a large home loan at Chase just got a little easier

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The bank is easing the lending requirements for its jumbo mortgages, which tend to be loans in excess of $417,000 in many markets and $625,500 in more expensive areas.
A potential buyer now only needs a credit score of 680 and a 15% down payment to qualify for a maximum loan amount of $3 million for a primary-residence home. Borrowers used to need a 740 score and put 20% down.