For decades, mortgage borrowers have been trained to think about credit in one very simple way: ⠀ “What is my FICO score?” ⠀ That question is becoming less simple. ⠀ Fannie Mae and Freddie Mac now broadly allow eligible loans to use VantageScore 4.0, giving approved lenders another credit-score option alongside Classic FICO. Fannie Mae says 37% of conventional applications created in Desktop Underwriter during September included a VantageScore 4.0 score. Fannie Mae ⠀ That is

October 9, 2026 | Michael Belfor After one of the most difficult stretches for mortgage rates we've seen in years, the bond market may finally be showing signs of stability. That's welcome news for California homebuyers, homeowners, and real estate professionals who watched borrowing costs climb sharply throughout September. But before anyone starts celebrating a major rate decline, there's an important distinction to understand. Stabilizing mortgage rates are not the same as

⠀ The national housing story right now sounds pretty simple. ⠀ More sellers are cutting prices. ⠀ Homes are sitting longer. ⠀ Buyers have more leverage. ⠀ And nationally, that is largely true. ⠀ But then Berkeley does Berkeley things. ⠀ A three-bedroom Craftsman at 2129 Roosevelt Avenue was listed at $1.095 million. ⠀ It sold for $2.05 million. ⠀ That is about 87% over asking. ⠀ Same country. ⠀ Same week. ⠀ Completely different housing market. ⠀ And this is exactly why I keep

Most homebuyers never think about the appraisal form. They think about one thing: Did the value come in? But beginning November 2, 2026, Fannie Mae and Freddie Mac are moving to the new Uniform Appraisal Dataset 3.6 for new appraisal submissions, with a redesigned Uniform Residential Appraisal Report. Fannie Mae That sounds like an industry technology change. It is. But it also matters to buyers, sellers and agents because the new system is designed to capture property inform

California homeowners are sitting on an extraordinary amount of housing wealth. According to Cotality’s latest Homeowner Equity Insights report, California homeowners with mortgages averaged approximately $623,000 in equity in the second quarter of 2026 — one of the highest levels in the country. Nationwide, homeowners with mortgages held $17.9 trillion in equity. Cotality And there is another number that jumped out at me: New HELOC and closed-end second-mortgage originations

There is a housing problem in California that almost nobody talks about enough. A lot of homeowners simply are not moving. Not because they love every part of their current house. Not because they do not want to downsize. But because the next move can feel financially worse. AARP reported last week that nearly 1 in 3 baby boomers who own homes say they may never sell. AARP In California, the issue is especially visible in places like Marin County, where more than a third of r

Yes. A buyer can be fully qualified for a mortgage while the condominium project itself fails the lender’s requirements. When you buy a condo, the lender may evaluate two separate things: You, the borrower The condominium project That means excellent credit, strong income, adequate assets and a solid down payment do not necessarily guarantee that a particular condo can be financed. I see this surprise buyers and real estate agents all the time. Watch: You Qualify. The Condo D

California condos have always been the “more affordable” way into a lot of expensive markets. But there is a problem getting harder to ignore: The monthly mortgage payment is only part of the cost. HOA dues are rising. Insurance costs are rising. Buildings are aging. Reserve accounts are getting tested. And some owners are getting hit with massive special assessments. The Los Angeles Times reported today that owners at a San Clemente condo complex were recently assessed $26,0

California has spent years making it easier to build accessory dwelling units. But there has been a pretty ridiculous problem hiding in the process: You can get the ADU designed. You can get it permitted. You can get it built. And then you can still wait months for the utility hookup. California just took a swing at fixing that. Governor Gavin Newsom signed SB 1196 on September 27, directing the California Public Utilities Commission to establish clearer timelines for utility

Vacation homes were one of the hottest real estate trades of the pandemic era. People wanted space. Rates were low. Short-term rental income looked amazing. And suddenly every cabin, beach house and mountain property seemed like an “investment.” That story is changing. Recent reporting shows vacation-home markets around the country cooling hard, with some sellers cutting prices aggressively and short-term rental owners dealing with more competition, softer occupan

If someone tells you what “the Bay Area housing market” is doing right now, my first question would be: Which part? Because August produced two numbers that almost seem like they belong to different markets. New listings in San Jose jumped 25.5% from a year earlier. Meanwhile, San Francisco home sales increased 9.5% year over year — the largest increase among the major metros Redfin tracked. Same Bay Area. Very different story. And for buyers, sellers and agents, that differe

If someone tells you what “the Bay Area housing market” is doing right now, my first question would be: Which part? Because August produced two numbers that almost seem like they belong to different markets. New listings in San Jose jumped 25.5% from a year earlier. Meanwhile, San Francisco home sales increased 9.5% year over year — the largest increase among the major metros Redfin tracked. Same Bay Area. Very different story. And for buyers, sellers and agents, that differe

The bond market just crossed another major threshold. On Thursday, the 10-year Treasury yield reached 5.22% — its highest level since 2007. This is a significant increase, considering the 10-year has risen roughly 0.60% in just the last month. Mortgage-backed securities have sold off sharply alongside Treasuries, creating one of the most challenging stretches for mortgage pricing we've experienced this year. So, what's happening? And perhaps more importantly for homebuyers an

There is a window in real estate that buyers routinely underestimate. It is not January. It is not the spring frenzy. And it is definitely not the weekend when every other buyer suddenly decides they are ready. For several markets — including San Francisco — late September has historically been one of the better periods for buyers to find negotiating opportunities. That does not mean every house is suddenly cheap. It means the balance between seller motivation and buyer compe

A condo can look perfect. Great location. Updated kitchen. Ocean view. Monthly payment works. You love the unit. But here's something I've learned after nearly 24 years in the mortgage business: When you buy a condo, you aren't only buying the condo. You're buying the HOA too. And that distinction can affect far more than your monthly HOA dues. It can affect your insurance costs. It can affect special assessments. It can affect your ability to finance the property. And eventu

There is a weird thing happening in housing right now. Nationally, buyers have more negotiating power than they have had in years. But if you are buying in California, where you are buying matters enormously. Redfin reported that sellers gave concessions in 44.7% of U.S. home sales in August, the highest August share in its data going back to 2020. Concessions can include help with closing costs, repairs or mortgage-rate buydowns. Now look at California. Riverside:

California buyers already have enough to think about. Price. Payment. Down payment. Closing costs. HOA dues. And now there is another line item becoming impossible to ignore: Homeowners insurance. This is no longer just a wildfire-zone issue either. Recent reporting shows insurance availability problems spreading into newer Inland Empire communities that historically would not have been considered the obvious “hard-to-insure” areas. That changes the homebuyi

Everyone keeps talking about a slow housing market. San Francisco apparently didn’t get the memo. August data from Compass shows 85% of San Francisco single-family home sales closed above asking price, while 54% of condos sold above asking. The median single-family price reached approximately $1.855 million, and the condo median was about $1.233 million. So yes, the broader Bay Area cooled seasonally. But “cooling” and “easy for buyers” are definitely not the same thing. I. S

Last reviewed: September 2026 Self-employed borrowers get declined for mortgages more often than W-2 employees with comparable actual earnings — not because they make less money, but because tax returns are built to minimize taxable income, and mortgage underwriting traditionally reads those returns literally. The Core Problem A business owner who legitimately earns a strong living can show a modest, or even negative, net income on their tax returns after legitimate write-off

Last reviewed: September 2026 We've closed 18 TIC transactions in the past 12 months across Los Angeles and the Bay Area. The most common question buyers bring us isn't "what is a TIC" — it's "why would I choose this over a condo," and what actually changes in the financing. The Core Difference A condo purchase gives you individual, recorded ownership of your specific unit, with a large HOA governing shared spaces and typically dozens (or hundreds) of other owners. A TIC (Ten