You CAN Compete with an Investor!
With interest rates high and inventory low, competing to buy your dream home remains a challenge. Maybe you’ve considered focusing on a house that needs work but you’re worried you don’t have the cash to upgrade the home. The right lender can solve that problem for you. Stop thinking that investors are the only people […]
Is California Becoming Uninsurable?
State Farm announced late last week that it will halt the sale of new home insurance policies in California, citing wildfire risk and inflation of construction costs. Starting Saturday, May 27, California’s (and America’s) biggest home insurer by premium, will not accept insurance applications for business and personal lines property and casualty insurance. Existing policies […]
Rates on the Rise
After five consecutive weeks of being in decline, mortgage rates did an about-face and to an upswing, according to the latest Primary Mortgage Market Survey published by Freddie Mac. The 30-year fixed-rate mortgage at the end of the week averaged 6.43%, up from last week when it averaged 6.39%. This time last year, it averaged […]
What is the Mansion Tax?
On April 1st, Measure ULA, which Los Angeles voters supported in the most recent election, goes into effect. The new ordinance imposes a one-time transfer tax on property sales above $5 million. The goal of measure ULA (United to House LA), also known as the “Mansion Tax” is to generate more funds to create affordable […]
3-2-1 Buydown!
Higher interest rates make it more difficult to buy a home, but there are some silver linings – and some workarounds – to make the current market a little easier on buyers. The shiniest silver lining is that higher interest rates often mean less competition, slightly lower prices and eager sellers who might be more […]
Will Mortgage Rates Drop?
Hope is in the air for home buyers. For several months, many buyers have been holding their breath as mortgage rates have continued climbing higher. Last week they finally got a breather. Following Thursday’s release of the consumer price index, mortgage rates saw their biggest single-day tumble in over a decade. The question now is […]
What Does the Prime Rate Mean for Mortgage Rates?
The Fed made an interest rate increase this week of 75 basis points, but several lending experts I’ve spoken to believe the mortgage market should not see negative implications since the increase has probably been priced into today’s rates. According to Mark Cohen of Cohen Financial, “I think the mid-June highs that sent some loan […]
The Real Estate Roller Coaster
The sky isn’t falling, despite the sensationalized headlines about the real estate market. But the market is softening. The growing number of price reductions – a trend showing up in data from Southern California and across the US – is one of the strongest signs that the previously red-hot market is cooling. Some home sellers […]
Make Any Market a Seller’s Market
It’s a seller’s market, to be sure. But that doesn’t mean you can just list your home for sale and expect a bidding war and top dollar. As prices rise and competition remains fierce, buyers are still discerning and want to feel like they’re getting a really great home for the amount they are paying. […]
Bridging The Gap
It’s hard enough to be a buyer in today’s real estate market if you’ve got money in the bank and a loan pre-approval. It’s nearly impossible if buying is contingent on the sale of your current home. What are your options if you can’t buy before you sell? Or if you are worried about being […]