Author: Savannah Rollins

Updated with bidding of Tuesday-Thursday, Oct. 1-3. For the 34th time, the auction for Laguna Niguel’s iconic Ziggurat goes on thanks to another last-moment bid. With 13 minutes left in the auction on Thursday, Oct. 3, the General Services Administration auction site shows “Bidder #02” increased the price by the minimum $300,000 increment for the pyramid-shaped Chet Holifield Federal Building and surrounding land that’s no longer needed by the federal government. “Bidder #01” quickly countered with a similar price hike. Here’s what you need to know about the online auction that began June 5 for a prime south Orange County…

As someone who’s thinking about buying or selling a home, you’re probably paying close attention to mortgage rates – and wondering what’s ahead. One thing that can affect mortgage rates is the Federal Funds Rate, which influences how much it costs banks to borrow money from each other. While the Federal Reserve (the Fed) doesn’t directly control mortgage rates, they do control the Federal Funds Rate. The relationship between the two is why people have been watching closely to see when the Fed might lower the Federal Funds Rate. Whenever they do, that’ll put downward pressure on mortgage rates. The…

Santa Barbara, California – Published 3/3/2023 The future of downtown housing may be staring right at the city of Santa Barbara in plain sight. The closed Macy’s on the corner of Ortega and State Street and the closed Nordstrom on the corner of Canon Perdido and Chapala Street are available with multiple floors of empty space. Macy’s closed in 2017 and the Nordstrom closed in June of 2020. Analysts have suggested releasing for retail, creating a mixed use space, converting to entertainment, or turning it into anything from luxury to workforce housing. A principal with the Radius Group, Gene Deering, spoke…

The housing market is going through a transition. Higher mortgage rates are causing more moderate buyer activity at the same time the supply of homes for sale is growing. And if you aren’t working with an agent, you may not realize that. Here’s the downside. If you’re not informed, you can’t adjust your strategy or expectations to today’s market. And that can lead to a number of costly mistakes. Here’s a look at some of the most common ones – and how an agent will help you avoid them when you sell.  1. Overpricing Your House Many sellers set their…

Mortgage rates have been one of the hottest topics in the housing market lately because of their impact on affordability. And if you’re someone who’s looking to make a move, you’ve probably been waiting eagerly for rates to come down for that very reason. Well, if the past few weeks are any indication, you may be getting your wish. Mortgage Rates Trend Down in Recent Weeks There’s big news for mortgage rates. After the latest reports on the economy, inflation, the unemployment rate, and the Federal Reserve’s recent comments, mortgage rates started dropping a bit. And according to Freddie Mac,…

The auction of an iconic California office campus entered its fifth month due to an odd selling process that essentially gives participants control of the deadline. The federal government’s exit from the eye-catching Chet Holifield Federal Building – better known as the “Ziggurat” – began June 5. The initial auction deadline for the building plus 89 acres in Laguna Niguel was July 31, but it came with a big “but” in the rules. You see, this auction run by the General Services Administration has a “soft close” – if the high price is topped in a 24-hour period, the auction…

In today’s housing market, many sellers are making a critical mistake: overpricing their houses. This common error can lead to a home sitting on the market for a long time without any offers. And when that happens, the homeowner may have to drop their asking price to try to re-ignite buyer interest. Data from Realtor.com shows the number of homeowners realizing this mistake and doing a price reduction is climbing (see graph below): If you’re thinking about making a move yourself, here’s what you need to know. The best way to avoid making a costly mistake is to work with…

Why 19th-century tariffTariffs are taxes imposed by one country on goods imported from another country. Tariffs are trade barriers that raise prices, reduce available quantities of goods and services for US businesses and consumers, and create an economic burden on foreign exporters. policies don’t work in 21st-century America. Donald Trump has floated a proposal to replace the US income taxA tax is a mandatory payment or charge collected by local, state, and national governments from individuals or businesses to cover the costs of general government services, goods, and activities. system with a new system of tariffs, moving the United States…

Santa Barbara, California – Published 3/3/2023 Miserabilism, a synonym for gloomy, is the word for what mindset other economists have been peddling in recent months. But Christopher Thornberg, the founder of Beacon Economics, would disagree. He said that the real reason society has fallen into an emotional economic slump is that narrative and reality no longer agree with each other. On Feb. 28, for the first time in four years, the Radius Real Estate and Economic Forecast took place in person and people were happy to be back, including the speakers. Brad Frohling, one of Radius’s principal agents, joked that…

Have you ever heard the phrase: don’t believe everything you hear? That’s especially true if you’re thinking about buying or selling a home in today’s housing market. There’s a lot of misinformation out there. And right now, making sure you have someone you can go to for trustworthy information is extra important. If you partner with a real estate agent, they can clear up some common misconceptions and reassure you by backing them up with research-driven facts. Here are just a few misconceptions they can help disprove. 1. I’ll Get a Better Deal Once Prices Crash If you’ve heard home…