Real Estate Blog LA

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 will be revised on July 24) had risen to $208,600, up $13,000 and a full 6.6%. Another ...

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 past 2 weeks as Sellers look towards the Summer selling months. Homes are no longer as ...

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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 $1,500 per month on a rental. If the buyer purchases a $300,000 property with $30,000 ...

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 markets, one in the early 1980s and the other in the early 1990s, the rates were much ...

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 adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in ...

What is Title Insurance? The purchase of a home is probably the single largest investment you'll make in your lifetime. It is only prudent that you want to safeguard your rights and investment. Title insurance assures that your rights and interests to the property are as expected, that the transfer of ownership is smoothly completed and that ...

An escrow is an arrangement in which a disinterested third party, called an escrow holder, holds legal documents and funds on behalf of a buyer and seller, and distributes them according to the buyer's and seller's instructions. People buying and selling real estate often open an escrow for their protection and convenience. The buyer can ...

Last month, President Bush signed the Economic Stimulus Package into law - setting aside $168 billion in tax rebates and incentives to help boost the US economy. As we head into spring, those tax rebates are getting ready to hit the mail. So when should you expect yours? That depends on a few factors, including when you file your 2007 tax return, ...

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 same home today (which might be $380K-due to the softened market) at current interest rates (which ...