As we continue with the aftermath of the government shutdown, one thing that seems puzzling is a decline in mortgage applications following a decline in rates. The latest figures are as follows: mortgage applications in the US saw a 0.6% drop, and home refinancing applications saw a 1% drop. It is interesting to note that …
Continue reading “Rates decline, and surprisingly, mortgage applications follow suit”
Even with mortgage rates and home prices on the rise, many U.S. cities witnessed boosts to their housing market credentials. The list of cities includes Las Vegas, Boulder, Boston, West Palm Beach-Boca Raton, Dallas, Ann Arbor, Fort Lauderdale, Reno, Santa Barbara, and Detroit. The metrics for evaluating housing market gains for these cities include: the …
The number of houses and condo sales in Southern California was “underwhelming,” says research firm DataQuick in its report for last month. Sales in six SoCal counties (LA, OC, Riverside, San Berdoo, San Diego, Ventura) were 10 percent lower than they were a year ago, and 14 percent lower than in October. (In just LA County, they …
Continue reading “SoCal’s Supply Of Low-Priced Homes Is Disappearing”
Approximately 33,429 new and resale houses and condominiums were sold across all of the regions in California during the month of November, 2013. Sales of homes and condos were 8.3% higher in October, a total of 36,468. Compared to figures from November 2012, sales of homes and condos were 10.8% higher totaling 37,481 units. Overall, …
Continue reading “Home Sales in California for the month of November”
The end of last year saw a significant dip in foreclosures for California due to several factors including, but not limited to, an increase in home prices, people becoming more diligent with timely mortgage payments, and a steadily improving economy bolstered by new job growth. The beginning step of any foreclosure is known as a …
Continue reading “ As Prices On Homes Rise, Foreclosure Rates Fall”
Somewhat surprisingly, sales of homes ranging from $1 million asking price or more, rose 45 percent for 2013 – the highest increase in six years for sales figures. Southern California has traditionally been a haven for luxury homebuyers. In 2013, approximately 10,602 buyers gathered funds to purchase luxury homes. Areas that typically witness luxury home …
Young-adults in their 20s and 30s are now turning to close friends and family for help in purchasing a new home. Often times, young people have many financial burdens that stand in the way of owning that first home. Significant student loans, a recession that is providing new difficulties in obtaining financially fulfilling jobs, and …
Continue reading “New strategies for young-adult home buyers”
Converting a multi-family apartment building into condominiums can potentially bring in additional annual income for property owners. If a real estate market is strong, renters could look to work towards paying off a mortgage on a property they would like to own. This way, interest can be written off and they will not be wasting …
Continue reading “The Concept of Converting Apartments to Condominiums”
Working in real estate can prove to be a great start to an investing career. By taking a position related to real estate, anyone may expose themselves to, as well as specialize in an area of real estate that can be beneficial when making investment decisions. Real estate offers many different career paths: real estate …
Freddie Mac reported stabilized mortgages rates at the start of April. The 30-year fixed loan rates emerged at 4.41 percent — a slight rise from 4.4 percent from the previous week. This is in contrast to 15-year fixed loan rates, which climbed from 3.42 percent to 3.47 percent. These changes reflect the current climate of …
Continue reading “Freddie Mac Reports a Leveling-Off of Mortgage Rates”