ADVERTISING SUPPLEMENT California Affordability Soaring Prices Shrink Pool of Homebuyers Charity Tournament a Success!! The 2020 Annual Charity Golf & Tennis Tournament held Nov. 2 at North Ranch Country Club in Westlake Village was a stunning success! The players showed up despite the pandemic-prompted safety protocols. It was a fun, fantastic day. The venue was amazing. And this major fundraiser of the Charitable Foundation of the Southland Regional Association of Realtors now has added funds to assist local housing shelters and home- less programs. Special thanks go out White Claw for being the drink sponsor, and SRAR President Nancy Troxell Carnahan for providing the open bar. Most importantly, thank you Wendy Furth for making this event happen! Finally, thank you to the sponsors, participants, volun- teers, and staff who made this annual charity classic possible. CHARITY GOLF S Soumiand Regiona Association of Reators By Nancy Trovel Camahan, President, and David Waier TENNIS CLASSIC Nev. . 3030 Narth Reh Ceuntry Clu SOUTHLAND REGIONAL AssoCIATION OF REALTORS', INC. The percentage of homebuyers who could afford to purchase a median-priced, existing single-fam- ily home in California in third-quar- ter 2020 fell to 28 percent due to heavy demand, rising prices and an exceptionally tight inventory. Voice of Real Estate 2020 1920 That was down from 33 percent in the second quarter of 2020 and was down from 31 percent in the third 40 percent, down from 41 percent a year ago. The monthly payment would be $2,980 and a minimum qualifying income needed of $89,400. The "Income-to-Loan Guide" printed below pinned the San Femando Valley median price during October at $841,000 and the minimum qualifying income at $156,704, yiekling a monthly PITI payment of $3,918. Compared with California, 55 percent of the nation's households coukd afford to purchase a $313,500 median-priced home, which required a minimum annual income of $57,600 to make monthly payments of $1,440. The Southland Regional Association of Real rors is a local trade association with more than 10,300 members sening the San Fer nando and Santa Clanita Valleys. SRAR is one of the largest local associations in the nation, ACE SPONSOR TEE SPONSOR Stephen Digiuseppe Supra Finance of America Boulevard Escrow EH Realtryw AAREA BIRDIE SPONSOR quarter a year ago, according to the California Association of Realtors' Tradi- Nancy Trovel Camahan, tional Housing SRAR 2020 Presidert Affordability HSBC CRMLS Spile, Leff & Goor Loans by Lela Carlson Law Group Mel Wilson & Associates Logix AFFILIATE EXPO Glenoaks Escrow Pillar to Post Home Evaluation/Modification Consulting CUTCO Index. California Housing Affordability Q3 2020 The thind-quarter 2020 figure was the lowest since the fourth quarter of 2018. Califomia's housing affordability index hit a peak of 56 percent in the HAI Price Income third quarter of 2012. 28% $693,680 $127,200 The index measures the percent- age of all househokds that can afford to purchase a median-priced, single-family home in Califomia. It is considered the most fundamental measure of housing well-being for homebuyers in the state. A minimum annual income of $127,200 was needed to qualify for the purchase of a S693,680 statewide median-priced, existing single-family home. The monthly payment, including taxes and insurance on a 30-year, fixed- rate loan, would be $3,180, assuming a 20 percent downpayment and an effective composite interest rate of 3.15 dagriced of Calfomia househoids could alford to purchasea medanpriced home ara -134% YT s monchly paymens o SIO10-ynar et-e mong of 3 SRAR Online Real Estate Store Interest Rate Update HALTY Growth As reported by Freddie Mac ore Price YTY Gronth Income YTY Growth November 12 The Southland Regional As- Sociation of Realtors' online real estate store carries a 30-Yr FRM - 2.84% 15-Yr FRM 2.34% November 5 30-Yr FRM - 2.78% 15-Yr FRM 2.32% variety of items, from Supra lockboxes, house signs and flags, to emergency supplies, such as shoe covers, PPE kits, and more. Items are available for doorside pickup. Delivery or shipping are not available. For questions or assistance, please call Debbie Rodriguez at 818-947-2114, San Fernando Valley. Or Becky at 818-947-2294, Santa Claríta Valley. Please call during real estate store operat- ing hours, which are listed online at SRAR.com. The San Fernando and Santa Clarita valley offices of SRAR are closed until state and local orders regarding the coronavirus pandemic are lifted. DRE Deadline Extended Income-to-Loan Guide Single-Family Homes - OCTOBER - San Fermando Valley percent. An executive order issued Housing affordability for condomini- ums and townhomes also dropped from second-quarter 2020, with two in five 42 percent-California households caming the minimum income to qualify for the purchase of a $512,000 median- priced condominium/townhome. An annual income of $94,000 was required to make monthly payments of $2,350. Forty-three percent of house- holds could afford to buy a median- priced condominium/townhome a year recently by Gov. Gavin Newsom extended to June 30, 2021, the deadline by which real estate license application and renewal fees need to be paid. Continuing education require- ments for licensees are also ex- Minimum Income Needed to $156,704 Monthly nce Payments Qualify for a Loan Moethy Prop Tas Yearto-Year Percentage Change+3.0% in Income Needed to Quality for a Loan $260 $876 Total Monthly PITI $3,918 tended through the same date. Executive order N-83-20, which addressed a variety of COVID-related issues, also allows California residents 70 years of age or older to renew their drivers' licenses by mail. Median Price $841,000 $2,775 Loan Amount (80%) Interest Rate The median price -meaning half were higher and half lower-for Los Angeles County was $602,540. County- wide the affordability index stood at $672,800 2.83% Monthly Mortgagend ntet Payment Source. Souand Regonal Association of REAL TORS *PITI eguals Monthy kan principal ainterest, pha taxen kiurance paments THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carmahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics. ADVERTISING SUPPLEMENT California Affordability Soaring Prices Shrink Pool of Homebuyers Charity Tournament a Success!! The 2020 Annual Charity Golf & Tennis Tournament held Nov. 2 at North Ranch Country Club in Westlake Village was a stunning success! The players showed up despite the pandemic-prompted safety protocols. It was a fun, fantastic day. The venue was amazing. And this major fundraiser of the Charitable Foundation of the Southland Regional Association of Realtors now has added funds to assist local housing shelters and home- less programs. Special thanks go out White Claw for being the drink sponsor, and SRAR President Nancy Troxell Carnahan for providing the open bar. Most importantly, thank you Wendy Furth for making this event happen! Finally, thank you to the sponsors, participants, volun- teers, and staff who made this annual charity classic possible. CHARITY GOLF S Soumiand Regiona Association of Reators By Nancy Trovel Camahan, President, and David Waier TENNIS CLASSIC Nev. . 3030 Narth Reh Ceuntry Clu SOUTHLAND REGIONAL AssoCIATION OF REALTORS', INC. The percentage of homebuyers who could afford to purchase a median-priced, existing single-fam- ily home in California in third-quar- ter 2020 fell to 28 percent due to heavy demand, rising prices and an exceptionally tight inventory. Voice of Real Estate 2020 1920 That was down from 33 percent in the second quarter of 2020 and was down from 31 percent in the third 40 percent, down from 41 percent a year ago. The monthly payment would be $2,980 and a minimum qualifying income needed of $89,400. The "Income-to-Loan Guide" printed below pinned the San Femando Valley median price during October at $841,000 and the minimum qualifying income at $156,704, yiekling a monthly PITI payment of $3,918. Compared with California, 55 percent of the nation's households coukd afford to purchase a $313,500 median-priced home, which required a minimum annual income of $57,600 to make monthly payments of $1,440. The Southland Regional Association of Real rors is a local trade association with more than 10,300 members sening the San Fer nando and Santa Clanita Valleys. SRAR is one of the largest local associations in the nation, ACE SPONSOR TEE SPONSOR Stephen Digiuseppe Supra Finance of America Boulevard Escrow EH Realtryw AAREA BIRDIE SPONSOR quarter a year ago, according to the California Association of Realtors' Tradi- Nancy Trovel Camahan, tional Housing SRAR 2020 Presidert Affordability HSBC CRMLS Spile, Leff & Goor Loans by Lela Carlson Law Group Mel Wilson & Associates Logix AFFILIATE EXPO Glenoaks Escrow Pillar to Post Home Evaluation/Modification Consulting CUTCO Index. California Housing Affordability Q3 2020 The thind-quarter 2020 figure was the lowest since the fourth quarter of 2018. Califomia's housing affordability index hit a peak of 56 percent in the HAI Price Income third quarter of 2012. 28% $693,680 $127,200 The index measures the percent- age of all househokds that can afford to purchase a median-priced, single-family home in Califomia. It is considered the most fundamental measure of housing well-being for homebuyers in the state. A minimum annual income of $127,200 was needed to qualify for the purchase of a S693,680 statewide median-priced, existing single-family home. The monthly payment, including taxes and insurance on a 30-year, fixed- rate loan, would be $3,180, assuming a 20 percent downpayment and an effective composite interest rate of 3.15 dagriced of Calfomia househoids could alford to purchasea medanpriced home ara -134% YT s monchly paymens o SIO10-ynar et-e mong of 3 SRAR Online Real Estate Store Interest Rate Update HALTY Growth As reported by Freddie Mac ore Price YTY Gronth Income YTY Growth November 12 The Southland Regional As- Sociation of Realtors' online real estate store carries a 30-Yr FRM - 2.84% 15-Yr FRM 2.34% November 5 30-Yr FRM - 2.78% 15-Yr FRM 2.32% variety of items, from Supra lockboxes, house signs and flags, to emergency supplies, such as shoe covers, PPE kits, and more. Items are available for doorside pickup. Delivery or shipping are not available. For questions or assistance, please call Debbie Rodriguez at 818-947-2114, San Fernando Valley. Or Becky at 818-947-2294, Santa Claríta Valley. Please call during real estate store operat- ing hours, which are listed online at SRAR.com. The San Fernando and Santa Clarita valley offices of SRAR are closed until state and local orders regarding the coronavirus pandemic are lifted. DRE Deadline Extended Income-to-Loan Guide Single-Family Homes - OCTOBER - San Fermando Valley percent. An executive order issued Housing affordability for condomini- ums and townhomes also dropped from second-quarter 2020, with two in five 42 percent-California households caming the minimum income to qualify for the purchase of a $512,000 median- priced condominium/townhome. An annual income of $94,000 was required to make monthly payments of $2,350. Forty-three percent of house- holds could afford to buy a median- priced condominium/townhome a year recently by Gov. Gavin Newsom extended to June 30, 2021, the deadline by which real estate license application and renewal fees need to be paid. Continuing education require- ments for licensees are also ex- Minimum Income Needed to $156,704 Monthly nce Payments Qualify for a Loan Moethy Prop Tas Yearto-Year Percentage Change+3.0% in Income Needed to Quality for a Loan $260 $876 Total Monthly PITI $ 3,918 tended through the same date. Executive order N-83-20, which addressed a variety of COVID-related issues, also allows California residents 70 years of age or older to renew their drivers' licenses by mail. Median Price $841,000 $2,775 Loan Amount (80%) Interest Rate The median price -meaning half were higher and half lower-for Los Angeles County was $602,540. County- wide the affordability index stood at $672,800 2.83% Monthly Mortgagend ntet Payment Source. Souand Regonal Association of REAL TORS *PITI eguals Monthy kan principal ainterest, pha taxen kiurance paments THE VOICE OF REAL ESTATE IN THE SAN FERNANDO AND SANTA CLARITA VALLEYS www.SRAR.com | Real Estate Questions? E-mail Nancy Troxell Carmahan, SRAR 2020 President, c/o DavidW@SRAR.com REALTORS is a federally registered collective membership mark which identifies a real estate professional who is a Member of the NATIONAL ASSOCIATION OF REALTORS and subscribes to its strict Code of Ethics.