Good news for buyers. Inman reports today that recent moves by the Fed have pushed interest rates to record lows — yet again. “Rates on 30-year fixed-rate mortgages averaged 3.49 percent with an average 0.6 point for the week ending Sept. 20, down from 3.55 percent last week and 4.09 percent a year ago… That matches an all-time low in Freddie Mac records dating to 1971.” To get started on your home search, contact me here.
I previewed this home yesterday, a split-level circa 1938 on a tree-lined one-way street.
A wood-burning fireplace, gorgeous floors and plenty of natural light create wonderful ambience. There’s a private yard and garden-level guest studio. The garage is a finished workspace.
And just look at that view. Better yet imagine seeing it at twilight, in person. Contact me here.
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Listing courtesy of Darren Hubert, Blue Pacific Property.
From the Wall Street Journal’s “Developments” blog comes a report on the declining number of for-sale homes, which matters because “falling inventories are a leading driver behind the recent rally in home prices, and… point to continued price-strength in many parts of the Western U.S.” I’ll say this again to any would-be sellers out there: it is a great time to list your home. If I don’t have a buyer for you, then someone else likely will. Call me anytime for a complimentary valuation of your property.
Last month I posted a NY Times article about the math of buying vs. renting (8/20). Well Trulia.com reports that for many people it’s 32% cheaper to buy than to rent in Los Angeles. Read the full article here, and after you do — call me. My top-shelf services come without any cost to homebuyers, so you’re not just going to love the house I find for you. Your bank account will love me, too.
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Map graphic courtesy of Trulia.com.
There’s a story on cnbc.com today about the government’s new stimulus package. Jeff Cox reports that the Fed “will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market.” I doubt that this will have a huge impact locally, since our housing engine is already running ahead of the national pack. But I do see significance in the bigger real estate picture.
I previewed this property today and it’s magnificent, an updated two-story Colonial built in 1935.
That’s a new, wide-open kitchen to go along with remodeled bathrooms and modernized systems. A bonus is that the utilities for this home are buried underground. No unsightly wires to deal with, and nothing to obstruct your stunning views of the San Gabriel Mountains.
Talk about indoor-outdoor flow, this house has it. Get in touch with me here and let’s go take a look.
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Listing courtesy of Maggie Navarro, Teles Properties.
It’s the LA Times again, with even more good news for local homeowners — especially those of you who have been thinking about selling. Alejandro Lazo writes today that “home sales in Southern California hit their highest level for an August in six years last month, and the median price for a home in the region rose to a four-year high.” Full article here.
Dataquick reports the story with deeper analysis. For my buyers, I urge you to consider that any good deals out there are going fast. Get in touch with me asap so we can get ahead of this market.
I previewed this house yesterday, love it. A brand new and well-thought-out modern right in the middle of the action, which is not for everyone obviously. But if you’re looking for a place that allows you to walk to things, you’ve found it. Sunset Junction, Hillhurst, the reservoir, all a stones throw away.
Bedrooms are up, living and dining are down and the finishes are just right.
I particularly like the placement of the windows and sliding glass doors in this home, giving choice vistas of trees and city lights in what is actually a quite urban setting. There’s even a little yard too, perfect for entertaining. If you want to see this house, get in touch with me asap. New homes are hard to find in general — and when they’re this cool? Likely to move quickly.
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Listing courtesy of Dana Frank, Rodeo Realty
The LA Times’ Alejandro Lazo reports this morning that “the number of underwater borrowers in the U.S. is continuing to decline as home prices improve, meaning one of the most stubborn roadblocks to the housing market’s recovery is slowly lifting.”
A follow-up to my recent post about the shrinking “distressed share” (9/5). Alejandro Lazo of the LA Times reports that “a San Diego real estate investment firm has won an auction of nearly 700 homes owned by Fannie Mae in Florida.” How does this impact our local market? Because banks like Fannie are national entities. As they shed bad assets, mortgage lenders will seek to replenish that business in greener pastures like LA County, where the market is already well into its turnaround.