A Seller’s Conundrum: Selling & Buying in a Hot Market
It’s a great time to sell. Inventory is still at record lows and buyer demand is at record highs. Low mortgage rates mean this is the perfect time to upgrade or downsize your current living situation for an affordable price. That’s great news for sellers all around…..BUT, what about when you need to become a […]
Interest Rates: Some Perspective
Freddie Mac announced on March 4 that their 30-year fixed mortgage rate was over 3% for the first time since last July. That news dominated real estate headlines that day and the next. Articles talked about the “negative impact” it may have on the housing market. However, we should realize two things: The bump-up in […]
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 […]
The Appraisal: To Waive or Not to Waive
It’s competitive and stressful enough for homebuyers in this market. While waiving the home appraisal contingency can strengthen an offer, it can also increase nerves during escrow. For every offer I’ve written on behalf of my clients this year, we have either waived the appraisal contingency entirely in our initial offer or had it countered […]
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 […]
Welcome the Ox; Welcome Prosperity
I’m sure we were all happy to bid 2020 farewell. If you’re looking to extend the celebration, you may want to consider observing the Chinese tradition of welcoming the Lunar New Year. 2021 is the year of the Metal Ox. The Metal Ox brings career advancement, success in business, prosperity and wellness for all zodiac […]
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 […]
Buyer Beware: It’s a Seller’s Market. How to Compete and Win!
These days it seems that it’s as hard to get an appointment for a showing as it is to get an offer accepted. We are still not able to hold open houses or broker’s opens in Los Angeles, and all showings must be by-appointment-only, no more than two buyers in the home at one time, […]
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 […]
Loan Limits Expanded!
Just in time for Thanksgiving last week, the Federal Housing Finance Agency (FHFA) gave home buyers another thing to be thankful. On November 24, the FHFA announced new 2021 Fannie Mae and Freddie Mac loan limits for both conforming and high-balance loans. This is particularly important in California where home prices exceed the national average. […]