Fed’s Survey Shows Net Equity Grew in Late ’09 According to the Fed’s most recent “flow of funds” survey, homeowners’ net equity grew by nearly $1 trillion from the recession’s nadir in the first quarter of 2009 through the third quarter. From June 30 to Sept. 30, net equity rose by $418 billion. The latest survey […]
Read MoreHere are five tips for those shopping for a mortgage today, especially if you need to refinance an existing loan: 1. Do the Paperwork Early Once you’ve found the mortgage professional you’d like to work with, get started on the necessary paperwork. Rates move regularly, and if paperwork has been started your file can be processed […]
Read MoreGreater Financial Transparency Under New Loan Modification Program According to the latest information from the Obama Adminstration, Those seeking to ease their mortgage terms must now document their finances before a trial modification will be granted. The deadline for those institutions servicing loans under the program, the deadline for adopting the policy is June 1. […]
Read MoreMortgage Rates Influenced by China Economy Slowing, Obama Administration Restrictions In the last week, China’s announced that it will endeavor to slow its economic growth; at the same time the Obama Administration’s proposed new restrictions on the activities of financial institutions, as originally proposed by economic adviser and former Federal Reserve Chairman under the Reagan Administration, Paul Volker. […]
Read MoreFixed mortgage rates followed bond yields lower For the third consecutive week, pushing 30-year mortgages below 5 percent once more. Similarly, ARM rates eased along with shorter-term rates, as the federal funds futures market indicates no increase in the Federal Reserve’s target rate following its upcoming committee meetings on January 26th and 27th. Because of reduced […]
Read MoreSanta Monica Homes 2008-2009 Number Sold – 191 Number Sold – 188 Median Sales Price – $1,900,000 Median Sales Price – $1,505,500 Median Days on Market – 40 Median Days on Market – 45 Current Inventory Supply (as of 1/11/10) – 2.44 Months (71 Active vs. 29 in escrow) Inventory Supply at the Same Time Last Year […]
Read MoreFive Tips for First Time Home Buyers If you are a new buyer and want to position yourself for homeownership: 1. Establish good credit habits and a favorable credit history Get a credit card and use it responsibly. Apply for an automobile loan and make your payments on time every month. If you’re renting an […]
Read MoreEight House-Hunting Tips for a Positive Experience 1. Location Counts You’ve probably heard the old real estate joke about “location, location, location,” but the point still bears repeating. Location is crucial. How far are you really willing to commute to your place of employment? How good are the local schools, shopping centers, public transportation, seniors services […]
Read MoreThere’s no doubt that a buyer’s market can be challenging for sellers. Yet it does not mean that sellers cannot enter the market – or that they cannot garner a fair price for their homes. Home sales in a buyer’s market may take longer. But a little creativity can go a long way toward help sellers move […]
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