Real Estate Blog LA

That was indeed the question of the week...and the final answer came on Friday, as the House of Representatives followed the Senate's lead and passed the $700 Billion rescue plan. The week began with the House initially voting against the plan on Monday, causing Stocks to plunge in their final minutes of trading to their single worst loss in ...

Today's Suggested Purchase Contract Rates for a 30 Year Fixed Rate Mortgage $417,000, Down Payment 3%, Interest Rate 6.250%, Points 1 $417,000, Down Payment 10%, Interest Rate 5.875%, Points 1 $417,000, Down Payment 20%, Interest Rate 5.875%, Points 1 $729,750, Down Payment 3%, Interest Rate 7.000%, Points 1 $729,750, Down Paymeny 10%, ...

My Lender Dean Wong and I sat down for Part II of our Interview on Finance 101: Thomas Ray:How are interest rates figured and how do I compare lender rates? Dean Wong:Rates are determined by the overall economy and supply and demand of money. Best way to compare rates is to speak with lenders you were referred to and can trust.  TR:Will ...

"THE PATH TO SUCCESS IS TO TAKE MASSIVE, DETERMINED ACTION." Anthony Robbins. And success in stabilizing the markets and the economy is exactly what the government is hoping will happen as a result of the massive, determined actions they took late last week in response to unprecedented happenings in the financial markets. Treasury ...

I recommend that prospective home buyers get Preapproved as a way of establishing their good faith to home sellers and agents.  Home buyers sometimes get into trouble because they aren't clued into the sequence of steps involved in financing their purchase. These Steps are Qualification, Preapproval, Approval and Lock. Qualification (or ...

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 ...