Real Estate Blog LA

Rates edge up June 24,2009

Thomas Ray L.A./exclusive/ — Sun, 28 Jun 2009 03:54:00 GMT

The benchmark 30-year, fixed-rate mortgage edged up 4 basis points, to 5.8 percent, according to a national survey of large lenders. A basis point is one-hundredth of 1 percentage point. The mortgages in this week's survey had an average total of...(read more)

Homebuyer Tax Credit of $15,000 Proposed

Thomas Ray L.A./exclusive/ — Sun, 28 Jun 2009 03:26:00 GMT

Congress once again is considering new tax credits intended to lure wary homebuyers into the nation's sagging housing market. Washington lawmakers have proposed several separate bills laced with housing incentives. The plans differ, but key elements...(read more)

:June 15, 2009::Forecast for the Week

Thomas Ray L.A./exclusive/ — Mon, 15 Jun 2009 19:26:00 GMT

Tuesday and Wednesday should also bring us a clearer picture of where things stand on the inflation front. Tuesday brings the wholesale price inflation measuring Producer Price Index (PPI) Report, while Wednesday delivers the inflation news on the retail...(read more)

Rates move higher in past 2 weeks after their bottom in May

Thomas Ray L.A./exclusive/ — Mon, 15 Jun 2009 19:16:00 GMT

As I mentioned before, added supply has been one of the main culprits behind the recent sell-off in Bonds and corresponding climb in home loan rates . So where is that supply coming from? First, all those refinances you've heard about lately are actually...(read more)

Twitter Me...on the twitter page at...

Thomas Ray L.A./exclusive/ — Tue, 09 Jun 2009 03:58:00 GMT

You can now find me: http://www.twitter.com/Realtor_SoCal Thanks! Tom...(read more)

Forecast for the week June 08,2009

Thomas Ray L.A./exclusive/ — Mon, 08 Jun 2009 15:52:00 GMT

In terms of economic reports, Thursday will be the big day this coming week. We'll learn more about the health of the retail sector via the Retail Sales Report for May . April's Retail Sales Report was worse than expected and marked the eighth...(read more)

Will it Appraise??

Thomas Ray L.A./exclusive/ — Mon, 08 Jun 2009 14:30:00 GMT

An appraisal of a home is always supposed to be a fair, impartial and professional evaluation of a property's true value and not under pressure from special interests. Unfortunately, during the height of the housing boom, appraisers were pressured...(read more)

May 18, 2009-Real Estate News This Week

Thomas Ray L.A./exclusive/ — Mon, 18 May 2009 15:43:00 GMT

(Remember, inflation is the archenemy of Bonds and home loan rates, so I will be keeping a close eye on this in the coming months.) The Department of Housing and Urban Development's Federal Housing Administration making a very interesting announcement...(read more)

March California Foreclosure Report

Thomas Ray L.A./exclusive/ — Wed, 15 Apr 2009 13:53:00 GMT

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)

Auction Opportunities and Foreclosure Numbers

Thomas Ray L.A./exclusive/ — Sat, 14 Feb 2009 02:30:00 GMT

Auction investment opportunities continue to increase. January brought an unexpected, across the board drop, in the total Notices of Default, Notices of Trustee Sale, and sales at auction, not only from the prior month, but year over year as well. Even...(read more)

5 Reasons to Buy a Home Now

Thomas Ray L.A./exclusive/ — Tue, 10 Feb 2009 16:47:00 GMT

1. Affordability is better than ever According to the National Association of Realtors' housing affordability index, homes were more affordable in December than at any other point since the group started the index in 1970. The affordability index...(read more)

This Month in Real Estate-February 2009

Thomas Ray L.A./exclusive/ — Tue, 10 Feb 2009 16:20:00 GMT

Please click on the link (below) to see the Power Point. You do not need Power Point to view the presentation. The information here is data driven and speaks to those Buyers that may still be wondering when to buy. As always, please contact me for any...(read more)

$7,500 15-year interest free loan from the government-Get yours!!

Thomas Ray L.A./exclusive/ — Tue, 10 Feb 2009 16:01:00 GMT

Tax credit offered to new homebuyers Expires June 30, 2009! Who is eligible? First-time homebuyers or any homebuyers who have not owned a principal residence in the last three years How does it work? Eligible purchasers can claim the $7,500 credit on...(read more)

Home Prices to Bottom in 2009..New Report!

Thomas Ray L.A./exclusive/ — Mon, 09 Feb 2009 00:53:00 GMT

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)

Eight steps to selling your home

Thomas Ray L.A./exclusive/ — Sat, 24 Jan 2009 08:34:00 GMT

1. Define your needs. Write down all the reasons for selling your home. Ask yourself, “Why do I want to sell and what do I expect to accomplish with the sale?” For example, a growing family may prompt your need for a larger home, or a job...(read more)