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19 September 2011
Mortgage Rates off Recent Lows
The borrowing costs required for average mortgage rates rose today, in some cases high enough to nudge the actual interest rate an eighth of a point higher. This is the first time in over a week that we've seen recent rates threatened. Good economic Read More...
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15 April 2009
March California Foreclosure Report
Notices of Default , the first step in the foreclosure process , reached a record level – nearly 26 percent higher than the previous historic peak in April 2008. Notices of Trustee sale , which set the auction date and time, rose 82.3 percent from Read More...
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08 February 2009
Home Prices to Bottom in 2009..New Report!
House prices in much of the U.S. will bottom out in this year's fourth quarter, Moody's Economy.com says in a new report. The report projects that peak-to-trough declines for metro areas will be 53% in Los Angeles. In some of the hardest hit markets, Read More...
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16 November 2008
California Home Prices DOWN 40.9 percent!--NOW is the time to BuY.
The median price of an existing, single-family detached home in California during September 2008 was $316,480, a 40.9 percent decrease from the revised $535,760 median for September 2007 . It is still too early to determine if the statewide median price Read More...
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31 October 2008
Sept Sales and Price Report--Sales Soared!!!
September sales and price report: Sales in California soared 96.7 percent and the median price of an existing single-family home decreased 40.9 percent compared with September 2007. Statewide sales in September surpassed the 500,000 mark for the first Read More...
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13 October 2008
Stock Market at a 5 year low...Oil down!
"THOSE WHO CAN SOAR TO THE HIGHEST HEIGHTS CAN ALSO PLUNGE TO THE DEEPEST DEPTHS." Lucy Maud Montgomery . Despite all of the government's efforts, markets here and around the world plunged this week as the financial crisis continues to grow. Read More...
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21 September 2008
Multi-Family is the best investment NOW!!
Multi-Family Apartment Buildings are the best investment now. This is true here in Los Angeles, CA as we see rents increasing 5% year over year. Rents have risen in each of the past 24 Quarters partly due to the Sub-Prime fallout which is forcing many Read More...
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04 August 2008
The Housing and Economic Recovery Act
This week, President Bush signed the "Housing and Economic Recovery Act of 2008" into law. This $300 Billion rescue plan is aimed at helping struggling homeowners avoid foreclosure, as well as boost confidence in the housing market. Although Read More...
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14 July 2008
Prices are Rising-for four straight months!!
Prices have risen for four straight months. The median home price has fallen from a high of $230,200 in July 2006 to a low in February 2008 at $195,600, a drop of 15%. Since February, however, it has risen steadily every month. By May the index (which Read More...
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04 June 2008
Buyers Hurry!--Housing Market doing a 180
Homes are now more affordable then they have been in years. As soon as I state this, the market could turn the other way. It may be many months before we see balance in the markets, but it is coming. Price reductions have increased dramatically in the Read More...
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11 April 2008
Buyers and Renters - The Cost of Waiting
First up: The loss of tax deductions . In most cases, people who lack a mortgage pay more federal and state income taxes than those who qualify for a mortgage deduction. A Mortgage Calculator illustrates this point: Assume that a buyer is currently paying Read More...
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11 April 2008
2008:The Best Year to Buy a Home in 35 Years!
In April of 1973 , mortgage rates were about the same as they are today. Since that time, we have only had mortgage rates this low during 2001 and 2002, the height of the seller's markets where there was little inventory. In the last two major buyer's Read More...
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03 April 2008
Good News!..Feb. 2008 Homes Sales in a Stable Range..
Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®. Existing-home sales - including single-family, townhomes, condominiums and co-ops - rose 2.9 percent to a seasonally Read More...
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02 April 2008
RENTERS BEWARE!
If you are currently renting , the following might be helpful. Just for comparison: if you are currently Renting and paying $2k per month and could have bought a $400K home a year ago at last years interest rates with a mortgage of around $1800, that Read More...
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14 March 2008
Apartment Buildings - Multi-Family Units - Good time to Buy - NOW!
The National Multi Housing Council projects the number of "households that rent" will increase by four million over the next 10 years, with half of them renting apartments in properties with five or more units. Looking back at 2007, the group Read More...
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