 Phishing attacks, which typically involve email scams, have become all too familiar. These emails provide links that lead to fake websites, tricking victims into sharing their passwords or banking information. Now, there is a more advanced form of scamming that is gaining popularity. It’s called vishing.
Vishing Scams Usually Start with a Voicemail or Text A vishing scam usually begins with a message telling the would-be victim that they have won something, have a problem with their bank or credit card, or need to pay off a loan as soon as possible. This prepares the victim to expect a call from the sender and makes them more vulnerable to giving up important information. Unlike email scams, vishing may sound more believable because there’s a real person on the phone, either with a prerecorded message or an actual live voice. That person may sound professional and legitimate, especially if they say they are calling on behalf of a real business, like a bank or a store the victim is familiar with. These scammers use social engineering tactics to gain the recipient’s trust, then subtly ask for confidential information that can be used to access bank accounts or steal a person’s identity. Vishing scams tend to target older, less tech-savvy victims, so it’s important to be aware and educate your loved ones. How to Identify Common Vishing Tactics Be wary when answering phone calls from unknown numbers; listen for signs that the caller is not who they are pretending to be. Someone claiming to be from your bank might say you will incur fees if you fail to pick up your new credit card on time. Another caller might say that you have won something, but you need to give out confidential information before receiving your “prize.” How to Handle a Potential Vishing Attack If you receive a call asking for confidential information, decline to answer and hang up. Next, call your bank or relevant institution to confirm if they did indeed call you. If the call wasn’t legitimate, report it to your local fraud hotline to help authorities monitor vishing scams in your area.
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 For the 10th consecutive month, existing-home sales have declined, according to the National Association of Realtors (NAR). In November, every sales region in the country reported both month-over-month and year-over-year declines. This level of sales activity was last seen in the country in 2020, when COVID-19 led to economic lockdowns. According to Lawrence Yun, chief economist for NAR, November’s sales declines were driven by “the rapid increase in mortgage rates, which hurt housing affordability and reduced incentives for homeowners to list their homes. Plus, available housing inventory remains near historic lows.” Total housing inventory in November declined 6.6% month over month but was up 2.7% from a year earlier. At the current sales pace, inventory levels would supply the market for 3.3 months, unchanged from a month earlier and up from the 2.1-month supply a year ago.
Market Activity While sales might have dropped in every sales region across the country, median existing-home prices rose in every region; prices for all housing types increased 3.5% year over year in November. For the past 129 months in a row, prices have seen year-over-year increases—the longest streak on record. Of all the homes sold in November 2022, 61% were available for under 30 days. The average property remained available for sale for 24 days, up from 21 days in October and just 18 days in November 2021. Who’s Buying? Though low inventory and high prices may create a competitive market, first-time buyers are still seeing success; in November, this group accounted for 28% of all home sales, unchanged from a month ago but up from 26% a year ago. According to the NAR “2022 Profile of Home Buyers and Sellers,” the annual share of first-time buyers was 26%—the lowest on record. All-cash sales, meanwhile, represented 26% of all sales, unchanged from October but up from 24% in November 2021. Individual investors and second-home buyers—two groups who account for many all-cash sales—were responsible for 14% of all purchases in November, down from 16% a month ago and 15% a year ago. Lower Mortgage Rates Buyers waiting for better conditions to enter the market may soon see some positive signs; mortgage rates have been falling over the past five weeks. According to Yun, “The average monthly mortgage payment is now almost $200 less than it was several weeks ago when interest rates reached their peak for this year.” Regional Sales Breakdown
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Marybeth Rojas - Broker
1350 Old Bayshore Hwy. Suite 520
Burlingame, CA 94010
Telephone (650)796-5565
www.marybethrojas.com
www.avantproperties.us
DRE#01352623
1350 Old Bayshore Hwy. Suite 520
Burlingame, CA 94010
Telephone (650)796-5565
www.marybethrojas.com
www.avantproperties.us
DRE#01352623