- "Cheaper to Buy Now-If you have a Job"!
- 30-year fixed-rate mortgages: averaged 4.01 percent, inching down from last week’s previous record of 4.09 percent. A year ago, 30-year rates averaged 4.32 percent.
- www.siliconvalleyhomeprice.com
Friday, September 30, 2011
Mortgage Rates Reach New Lows
Thursday, September 29, 2011
Tuesday, September 27, 2011
Scam Dupes Home Owners into False Loan Audits
"The Word is Buyer Beware"
In the scam, the organizations claim to review a home owner’s mortgage documents to determine whether their lender had complied with state and federal lending laws. They then promise to get the home owner a quick loan modification and possibly a principal reduction on their mortgage too. Home owners pay an upfront fee—usually about $3,000.
http://realtormag.realtor.org/daily-news/2011/09/27/scam-dupes-home-owners-fa...
Monday, September 26, 2011
More Home Owners Become ‘Accidental Landlords’
"My Question is how do you determine if you would be fit to manage rental properties? Pl comment"
But while home owners are turning their homes into rentals to generate cash flow, many say it’s not enough. They say the cash flow being generated from the property is hardly enough to cover expenses, and in some cases, they’re even losing money. Accidental landlords also say the role is time-consuming and can be stressful, as they have to worry about everything from finding tenants to handling any repairs.
http://realtormag.realtor.org/daily-news/2011/09/26/more-home-owners-become-a...
Saturday, September 24, 2011
Sales of previously owned homes jump in August
Sales of previously owned homes were up 20.6% over August 2010 in the West
http://www.latimes.com/business/realestate/la-fi-existing-home-sales-20110922...
Wednesday, September 21, 2011
2 Important Factors in Judging Neighborhoods
A recent article at Bankrate.com says judging a neighborhood’s worth over the long haul comes down to two main factors: Jobs and access to amenities.
http://realtormag.realtor.org/daily-news/2011/09/21/2-important-factors-in-ju...
Friday, September 16, 2011
Big Savings for Buyers: Rates Reach New Record-Lows
- 30-year fixed-rate mortgages: averaged 4.09 percent this week, down from last week’s previous record of 4.12 percent. Last year at this time, 30-year rates averaged 4.37 percent.
- 15-year fixed-rate mortgages: averaged 3.30 percent, dropping from last week’s record low of 3.33 percent. Last year at this time, 15-year rates averaged 3.82 percent.
- 5-year adjustable-rate mortgages: averaged 2.99 percent this week, up slightly from last week’s 2.96 percent average. A year ago at this time, the 5-year ARM averaged 3.55 percent.
- 1-year ARMs: averaged 2.81 percent, down from last week’s 2.84 percent average. A year ago, the 1-year ARM averaged 3.40 percent.
http://realtormag.realtor.org/daily-news/2011/09/16/big-savings-for-buyers-ra...
Email me for Best Buy Homes For Sale!
Thursday, September 15, 2011
Mortgage Applications on the Rise Last Week
For the week ending Sept. 9, the purchase index — a gauge for future home buying — increased on a seasonally adjusted basis by 7 percent compared to one week earlier, the Mortgage Bankers Association reported in its weekly mortgage application survey. However, the purchase index is 7.2 percent lower from the same week one year ago.
http://realtormag.realtor.org/daily-news/2011/09/15/mortgage-applications-ris...
Wednesday, September 14, 2011
Freddie Offers New Loan Mod Option
5 percent interest, 40 year term
Mortgages that are modified will have their interest rates set to 5 percent and the amortization period (time required to pay off the mortgage) extended to 40 years from the time of the modification. Lenders approving such modification will receive cash incentives of up to $1,600 per homeowner approved.
Friday, September 9, 2011
Mortgage rates hit record lows in Freddie Mac survey
Lenders were offering the 30-year fixed-rate home loan at an average rate of 4.12% this week, down from 4.22% last week, Freddie Mac said Thursday. The 15-year fixed loan was at 3.33%, down from 3.39%.
Wednesday, September 7, 2011
A Sweet Spot in Real Estate
"Whereas leverage is dangerous when buying stocks, [buying a rental] can be a good long-term strategy with real estate," real estate investor Marshall Sonenshine told Money Magazine.
Friday, September 2, 2011
Mortgage Rates Hover Around Record Lows
30-year fixed-rate mortgages: averaged 4.22 percent this week, holding steady at last week’s average. Last year at this time, 30-year rates averaged 4.32 percent. Late last month, 30-year rates had reached a new record of 4.15 percent.
Thursday, September 1, 2011
When Income Is Freelance
If you earn most of your income on 1099s, brace yourself for extra preparation, paperwork and discussion of your financial picture when applying for a mortgage.
The National Association of Realtors says about 16 percent of its member Realtors reported home purchase cancellations in June, mostly because of tighter lending requirements. To prevent that, clean up any credit blemishes before beginning the hunt.
http://www.nytimes.com/2011/08/28/realestate/loans-for-freelancers-mortgages....
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