Can you take advantage of these market conditions? Today I have the latest news and notes from our San Luis Obispo market as we make our way through July. Inventory is practically the lowest it’s ever been, and the same can be said for interest rates. Since these are the driving forces behind our market, there are a couple of key tips buyers and sellers need to remember if they want to take ...
Last Liked - 14 months ago by TodayWeBuy
Get A Jumbo Loan. Monthly Payments Can Be Less! I find this very interesting.
The 15 Year Conforming APR Rate is 3.376% at a local credit union.
The 15 Year Jumbo APR Rate is 3.250%.
What does this mean?
It means for those homes which are priced close to the conforming maximum for your county, you could buy a more expensive home and PAY LESS on your mortgage ...
Last Liked - 15 months ago by TodayWeBuy
Market Crash Coming? Today the Federal Reserve released inflation data of 5.4%. For every 1% the Federal Reserve increases interest rates, there is a 10% drop in real estate prices. If inflation continues, the Federal Reserve will be forced to raise interest rates in Q4 2021 or Q1 2022.
Plus forbearance will end in June 2021. Home owners will need to come ...
Last Liked - 3 months ago by TodayWeBuy
Mortgage Forbearance Below is a nice write up about mortgage forbearance from our friends at Motley Fool, which provides a great service by the way.
Mortgage Forbearance 2021
Last Liked - 3 months ago by TodayWeBuy
Why I'm Never Going To Afford A Home Love this guy, Graham Stephan ...
Here's what he recommends from his YouTube channel:
First, LOOK AT WHAT YOU CAN AFFORD.
One of the BIGGEST “cheat codes” to real estate is to speak with a mortgage broker, a bank, or a local credit union to see approximately what type of loan you can qualify for.
Second, SAVE ...
California Proposition 19 Deadlines: 12/31/2020 and 2/16/2021 Prop 15 got all the attention in California, but Prop 19 will have a major impact.
The California Realtors Association spent $35M and others added $15M to get this proposition passed while the opposition spent only $45K. For Realtors, it means more business, more sales, more commissions because even if a child wants to move back into ...
Private Mortgage Insurance: One Strategy That Can Benefit You! If you can't come up with 20% down on a home (and who can now a days), you'll pay Private Mortgage Insurance (PMI). PMI ends when you have 20% equity in your home.
One strategy is to buy a fixer upper and when extra money becomes available, make improvements to the property such that the home appraises at a higher value. This allows you ...
Home Prices Rise 12.1% Even With COVID-19 Southland home prices increased 12.1% year over year and sales grew 2.4% as buyers took advantage of low mortgage rates according to the LA Times. This was the largest percent increase since 2014.
Median home prices in:
LA County: $692,750 up 12.2%
Orange County: $800,000 up 11.6%
Riverside County: $441,000 up ...
California Prop. 15, 19, and 21 Deal With Real Estate Prop. 15 - Commercial Property Tax
Proposition 15 would assess property tax at market value rates for commercial and industrial properties phased in over a 3 year period that are over $3 million in holdings. $12.5 Billion dollars would go to local governments and K-12 schools if passed. This proposition was placed on the ballot by ...
Last Liked - 12 months ago by TodayWeBuy
LA Times Recommends: Yes on 15, No on 19 Proposition 15 taxes commercial and industrial properties at today’s market rate value instead of their value in 1978 plus %2 per year increase. Properties under $3 million are not impacted.
Proposition 19 eliminates the tax break passed onto homeowners who inherit properties from their parents and allows homeowners 55 and over to ...
Save money. Bring a marble to your next Open House. When visiting an open house, place a marble on the laminate or hardwood floor to see if the marble rolls downhill. This may indicate a foundation problem which usually is very expensive to fix and can cause doors and cabinets not to close.
Mortgage Rates Hit Another All-Time Low Mortgage rates have hit another record low due to a late summer slowdown in the economic recovery. These low rates have ignited robust purchase demand activity, which is up twenty-five percent from a year ago and has been growing at double digit rates for four consecutive months. However, heading into the fall it will be difficult to sustain the ...
Freddie Mac Rates
Last Liked - 13 months ago by TodayWeBuy
It's Getting Harder to Qualify for a Mortgage COVID-19 has reduced the number of homes for sale. While interest rates are the lowest in 50 years, trying to get a mortgage is getting harder.
Lenders are increasing the FICO scores required and the down payment amount expected to get a loan.
As found in the mba.org link below:
"Mortgage credit supply dropped again in ...
Mortgage Credit Availability Index
Last Liked - 14 months ago by TodayWeBuy
Lowest Rates Ever Based on the chart below that goes from 1972 to 2020, these Freddie Mac rates look to be the lowest ever recorded! Wow!
Here's what is the chart says below:
Mortgage rates fell below 3 percent for the first time in 50 years. The drop has led to increased homebuyer demand and, these low rates have been capitalized into asset ...
San Luis Obispo (SLO) County Real Estate Newsletter SLO County’s recent trend indicates a flattening out in pricing. We have only seen a 0.9% increase in prices County wide since September 2018. The steam seems to be running out as buyer’s optimism falters with uncertainty towards the economy, the trade war, and an election year looming. There were 324 homes that closed escrow last month, ...
Median Sales Price in SLO
Inventory Months Supply
2 Comments - 15 months ago by TodayWeBuy
We can help you with a loan fund at an affordable rate. Kindly reach out
firstname.lastname@example.org Agent · 15M , ,
Nice article. TodayWeBuy · 15M OpenHouseOn.com LLC, Camarillo, CA · DRE 12345678
Is now the time to buy property? With interest rates at all time lows, 3% or less which is unbelievable, is now the time to buy your new home?
In general, my view is if you really like the property and can see yourself living there for several years, then the answer is yes!
With interest rates at all time lows, such low rates ...
What’s New in Our Market? What’s happening in our mid-June real estate market? Things have been changing rapidly, so we want to keep you updated.
Compared to June 2019, we have 27% fewer homes on the market, which is good for keeping prices stable. Our pending sales are on track to reach 310 by the end of the month if we keep up at our current pace. That’s ...
An Update on the San Luis Obispo Market so Far in 2020 Before we get deeper into February 2020, I want to bring you a few quick updates. I have the latest market stats, as well as really important information for home sellers. First, let’s look at the market.
In January 2020, our inventory was down about 15% from where it was a year ago. At the same time, we had 20% more homes go into ...
Advertising Guidelines for Agents and Brokers Found this document to be very interesting:
Prepared by Tyler & Bursch, LLP
Mortgage Rates Rise: 3.75% 30 year, 3.18% 15 year Rates increased slightly for a second week.
The average rate for a 30 year fixed mortgage rate is 3.75% up from 3.69% last week.
The average 15 year fixed mortgage rate is 3.18% up from 3.15% rate last week.
For more rate information, visit: http://www.freddiemac.com/pmms/
Mortgage Rates Rise: 3.69% 30 year, 3.15% 15 year Rates increased slightly. The average rate for a 30 year fixed mortgage rate is 3.69% up from 3.57% last week.
The average 15 year fixed mortgage rate is 3.15% up from 3.05% rate last week.
30 Year Rates Fall To 3.57% / 15 Year to 3.05% 30 year fixed mortgage rates fell this week to 3.57% from 3.67% last week according to Freddie Mac. Last year at this time rates were 4.90%.
15 year fixed mortgage rates fell to 3.05% from 3.14%.
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