Southern California suffers its worst housing slump in over a decade

Higher mortgage rates and overheated home prices hit Southern California home sales hard in September.

The number of new and existing houses and condominiums sold during the month plummeted nearly 18 percent compared with September 2017, according to CoreLogic. That was the slowest September pace since 2007, when the national housing and mortgage crisis was hitting. Sales have been falling on an annual basis for much of this year, but this was the biggest annual drop for any month in almost eight years. It was also more than twice the annual drop seen in August.

The article is written by Diana Olick for CNBC. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

First home buyer advice I wish someone had told me

Purchasing a property is often the single largest investment a person or family will make, but it can be a bewildering experience if you don’t really know what’s going on.

Having just bought my first home, I was left wishing I could find a course on “how to buy a house”, instead of having to learn by experience and blunder through with little understanding.

Some things might seem self explanatory or obvious to people who already own property, but I found there was a lot of contradictory information out there.

Here are some things I wish I knew before I started looking to buy a home.

The article is written by Liam Butterworth for ABC. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

Mortgage rates slide the fastest in four years, but it may be too late for the housing market

Rates for home loans tumbled as turmoil rocked global financial markets, but any reprieve in rates may come too late for would-be home buyers or refinancers.

The 30-year fixed-rate mortgage averaged 4.81% in the November 21 week, down 13 basis points, mortgage liquidity provider Freddie Mac said Wednesday. That’s the biggest weekly decline since January 2015 and the lowest level for the popular product since early October. The 15-year fixed-rate mortgage averaged 4.24%, down 12 basis points during the week. The 5-year Treasury-indexed hybrid adjustable-rate mortgage averaged 4.09%, down from 4.15%.

The article is written by Andrea Riquier for MarketWatch. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

Tips on saving money as a new homeowner

There are a few things that you can do to ensure that you save money as a new or potential homeowner.

Here are a few things Barry and his wife did to save money as new home owners

The article is written by Barry Choi for Money Sense. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

Relevant Real Estate: How To Give Young People What They Really Want

The past decade has seen major shifts in the way people live, from renting permanently to living with roommates longer than anticipated or wished, to delaying homebuying or not even considering it. Many people think homeownership is down, but that’s not necessarily the case.

It appears that millennial and Gen Z renters and buyers simply expect more from the real estate they consider. So, what must real estate builders and brokers do in order to meet their differing and expanding home needs? In this article, 13 members of Forbes Real Estate Council tackle that very question.

The article is written by Forbes Real Estate Council for Forbes. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

The Top Seven Traits Of A Successful Real Estate Investor

Real estate is said to have made more millionaires than anything else. For those who have successfully made money in it, it’s not hard to see why. With so many different ways to grow wealth investing in real estate, there are tons of opportunities for many different people with different skill sets and talents to be successful, make money, and improve their financial position in meaningful ways.

The author is a real estate investor and he has created wealth through it. Having interviewed successful investors on the BiggerPockets podcast and networked with them in many forms, David has recognized patterns in the abilities of an investor that often lead to their success. Here’s a list of some of the traits among the most successful investors. Whether it’s a house flipper, residential home landlord, or large apartment complex owner, these same traits are almost always involved.

The article is written by David Greene for Forbes. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

7 Reasons Home Buying Shows Like ‘House Hunters’ Remain Popular

HGTV renewed a trio of house hunting shows, offshoots of its hugely popular House Hunters series that follow people as they search for homes in paradise—beachfront and island locations.

The renewals were hardly a surprise. House Hunters, which debuted in 1999, remains one of the most consistently popular shows on cable, thriving through the Great Recession (as some other house hunting shows became passé) and inspiring loads of spinoffs.

Nielsen has estimated some 25 million people watch House Hunters each month. It’s rare to find a program that can last more than a decade; House Hunters and its spinoffs are closing in on two.

What is the secret to the show’s success? Here are seven of them.

The article is written by Toni Fitzgerald for Forbes. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

How To Capture The Millennial Market As A Real Estate Agent

Millennials are changing the housing market. When we look at the 2018 buyer and seller trends report published by the National Association of Realtors, we find the 18-to-35-year-old demographic was the largest group of homebuyers, making up 36% of the market over the last few years.

For 65% of this group, it was their first home purchase. It means that more than a third of those millennials were already buying their second home. When you consider that the average younger homebuyer will likely be selling in less than 10 years, it is clear that to be a successful real estate agent, your future depends on knowing these customers and how to best appeal to them.

The article is written by Joe Houghton for Forbes. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

Six Tips To Improve The Chances Of Selling Your Home This Winter

It’s usually all quiet on the real estate front in December and January. Many of us are focused on the holidays and our New Year’s resolutions, not open houses. If sellers have the luxury of waiting until mid-February to put their homes on the market, I advise them to wait.

But there are exceptions. Homes still attract offers during this 60-day period. If you have to sell your home in the middle of winter, here are six tips that will greatly increase your ability to close the deal.

The article is written by Corey Burr for Forbes. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.

Are You Ready For A Starter Home Or A Forever Home?

The decision to buy a home is a big one and it gets even more complicated when you factor in the decision between choosing a starter home or investing in a forever home. Luckily, that’s where we come in. We laid out three big considerations to keep in mind when you’re choosing between the two. Read on below to make the decision between a starter home and a forever home clearer than ever before.

The article is written by Tara Mastroeni for Forbes. You can read the full article here.

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Sheila Abai is a senior mortgage consultant at PNC Bank. She utilizes her 20+ years of finance and mortgage experience to identify the best mortgage and refinancing solutions for her clients. Sheila can be contacted via email at Sheila.Abai@PNC.com or via telephone at 310-666-5959.