Latest Posts from My Blog
Real Estate Tax Tips for 2010
Wednesday, March 10, 2010
Courtesy of Greg Roberts, MBA
The Roberts Group
CS Financial Mortgage Banking
www.gregroberts.com
The real estate downturn that dominated 2009 leaves many on unfamiliar ground at tax time so here are some useful tax tips:
On Foreclosure: “Homeowners here are really getting screwed. If they do what’s called a deed in lieu of foreclosure, their credit gets slammed, just like [...]
30-year fixed mortgage rates dip below 5% again
Friday, March 5, 2010
The rate, which has hovered around that mark since September, fell to 4.97% this week from 5.05% last week
E. Scott Reckard
The Los Angeles Times
The typical rate offered by lenders on 30-year mortgages slipped back below 5% this week, Freddie Mac said Thursday.
The mortgage giant’s weekly survey found that the average rate available on 30-year fixed-rate [...]
Pending home sales index drops 7.6% in January
Friday, March 5, 2010
The National Assn. of Realtors index of deals under contract fell to 90.4 from 97.8 in December. It’s 12.3% higher than January 2009.
By Alejandro Lazo
The Los Angeles Times
In another sign that the U.S. housing recovery might be on a shaky foundation, the number of homes placed under sales contract fell 7.6% in January, according to [...]
Shopping for a loan? A good-faith estimate will protect you
Monday, March 1, 2010
By Kenneth R. Harney
The Los Angeles Times
If you plan to take out a mortgage or refinance any time soon, you might want to hear this blunt message from federal officials: Don’t fly blind. When you’re shopping among competing lenders for the best loan terms and fees, make sure you know which quotes come with a [...]
Professor advises underwater homeowners to walk away from mortgages
Friday, February 26, 2010
Brent T. White, a University of Arizona law school professor, says that it’s in the homeowners’ best financial interest to stiff their lenders and that it’s not immoral to do so.
By Kenneth R. Harney
The Los Angeles Times
Reporting from Washington - Go ahead. Break the chains. Stop paying on your mortgage if you owe more than [...]
Jumbo loan market is thawing out
Wednesday, February 24, 2010
The meltdown sent interest rates soaring and availability shrinking, but rates are declining and lenders are more willing to make loans that top the limits for Freddie Mac, Fannie Mae and the FHA.
By E. Scott Reckard
The Los Angeles Times
Phil Kelly had 18 more months to go before the fixed rate on his $2.5-million mortgage became [...]
Southern California home prices rise 8.6%
Wednesday, February 17, 2010
By Alejandro Lazo
The Los Angeles Times
But January’s year-over-year increase to $271,500 is a 6.1% drop from December. Total sales climb about 1% from a year earlier.
Home sale prices in Southern California showed fresh strength in January, bouncing 8.6% from the same month one year earlier - a period when the market was inundated with steeply [...]
New wave of foreclosures by end of 2010 is feared
Wednesday, February 17, 2010
By Jim Puzzanghera
The Los Angeles Times
About 4 million U.S. homeowners are 90 days or more delinquent on their loans or in foreclosure proceedings, Moody’s Economy.com says. A federal loan modification program is helping a relative few.
Reporting from Washington - Experts fear that a new wave of foreclosures will hit this year as prolonged unemployment makes [...]
30-year fixed mortgages dip below 5% again
Wednesday, February 17, 2010
By E. Scott Reckard
The Los Angeles Times
The average interest has remained just above or just below 5% so far this year, but the end of Federal Reserve mortgage bond purchases is expected to bump up rates about half a percentage point.
Average interest rates for traditional 30-year fixed mortgages have fallen below 5% again, Freddie Mac [...]
30-year mortgage rate climbs
Monday, February 8, 2010
The average rate on a 30-year fixed mortgage was 5.01% this week, up from 4.98% last week, mortgage company Freddie Mac said.
The average rate on 15-year fixed mortgages rose to 4.40% from 4.39%. Five-year adjustable-rate mortgages averaged 4.27%, up from 4.25%. Rates on one-year adjustable-rate mortgages fell to 4.22% from 4.29%.
The rates do not include [...]
What People are Saying
Lynn Litt
“I'd been searching for the perfect house to buy in Santa Monica for two years when I met Diane. She was the first broker in a long list of brokers who had tried to help me, who kept me up to date on the market, who had the patience to deal with my work schedule and who actually had impeccable taste in properties and a realistic handle on their value.
With Diane's help, I found a house I loved in Santa Monica Canyon. As soon as we saw the house, I knew I wanted to buy it. Because several other offers were expected, Diane knew we had to act fast. Within two hours of seeing the house, Diane had written up our offer, got my signature and hand delivered it to the listing agent. After considering five other offers the seller chose to accept mine. We were told all of the offers were close to identical and the main reason my offer was accepted was because the sellers and their broker were so impressed with Diane and with the exceptional work she did with the paperwork and negotiations.
Not only did Diane help me to win the Bidding war, but she also was with me through every step of the escrow process and closing. I am so very grateful for Diane's help and friendship and highly recommend her to anyone who is looking for their perfect house.”