California Home Buyers of 2015 & an O.C. Housing Market Update

A look at the California home buyers so far  in 2015! Check out the useful data provided by a recent California Association of REALTORS® survey for direction on how to best  market your current listings to searching buyers.

The total homes sold in Orange County during June 2015: 2,366

The median selling price of homes in Orange County during June 2015: $680,000 … That’s a 4.6% increase compared to June 2014!

California Home Buyers of 2015 _and O.C. Market Update June 2015 - Prominent Escrow Services - located in Brea, Fullerton, Fountain Valley, Newport Beach, and Mission Viejo

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

May the second half of the year be successful ! You can count on Prominent Escrow Services to help get you there. Your escrow is our priority – contact us today!

Data Sourced From:  : 1. www.car.org | 2. www.corelogic.com

 

 

 

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KNOW BEFORE YOU OWE – NEW EFFECTIVE DATE ANNOUNCED

CFPB Announces New Know Before You Owe Effective Date

The Consumer Financial Protection Bureau finalized the two-month extension of the Know Before You Owe mortgage disclosure rule (also known as the TILA-RESPA Integrated Disclosures rule,) to October 3, 2015. It refers to the upcoming form and rule change where the Truth in Lending (TIL) form and the HUD-1 Settlement Statement (RESPA) will be combined and integrated into a new form called the Closing Disclosure Form. The purpose of the new form is to provide the borrower with a clear and understandable final snapshot of the loan and the costs associated with the loan.

The Bureau decided on this new date believing that both industry and consumers will benefit from a smoother transition and that scheduling an effective date on a Saturday may give the industry time to launch new systems over the weekend.

For more information visit:  www.ConsumerFinance.gov

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