Tag: home mortgage
For Sale: 51 Don Quixote, Rancho Mirage CA – Rancho Las Palmas Country Club
[yframe url='http://www.youtube.com/watch?v=zqSQeiMVlBc'] 51 Don Quixote, Rancho Mirage, CA Bed/Bath: 3 br, 3.00 ba Property Type: Condo Square Footage: 2,187 square feet Property Subtype: Condo Attached Asking: $575,000 Cross Street: Don Quixote Dr & El Toro MLS: #21420948 Map: click here to view map See Picture Gallery Below Virtual Tour: Click here to view Virtual Tour [...]
REO Homes Get Cleaned Up
With large numbers of foreclosed properties crowding the inventories of many mortgage lenders, the Chicago Tribune reports that despite their concerns, many banks are putting money into their properties to help them sell. The paper says that by putting up some money for renovations, lenders can turn many of their properties from “uninhabitable” into livable [...]
For Sale: 341 Gran Via – Monterey Country Club – Palm Desert, CA
341 Gran Via, Palm Desert, CA Bed/Bath: 3 br, 2.00 ba Property Type: Condo Square Footage: 1,670 square feet Property Subtype: Condo Attached Asking: $525,000 Cross Street: Gran Via & Monterey MLS: #21423709 Map: click here to view map See Picture Gallery Below Virtual Tour: click here to view Nothing for sale compares with [...]
Adjustable Rate Mortgages Return to Popularity
Adjustable Rate Mortgages Return to Popularity despite the fact that some borrowers still associate them with a stigma from the global financial crisis, adjustable-rate loans have picked up a slowly increasing share of the market in recent months, several lenders told the New York Times. The paper says many lenders have turned adjustable-rate loans into [...]
For Sale: 351 Gran Via, Palm Desert – Monterey Country Club
351 Gran Via, Palm Desert, CA Bed/Bath: 2 br, 2.00 ba Property Type: Condo Square Footage: 1,800 square feet Property Subtype: Condo Attached Asking: $379,000 Cross Street: Gran Via & Monterey MLS: #21422784 Map: click here to view map See Picture Gallery Below Virtual Tour: click here to view Location, Location !!!This 300 plan,a [...]
Southern California Home Sales at Lowest Level for a January in Three Years
Southern California home sales at lowest level for a January in three years The median price in the region, $270,000, represents the first year-over-year price drop since fall 2009, driven by a shift toward sales of cheaper properties and foreclosures. Southern California’s housing market extended its slump as sales hit the lowest level for a [...]
Home Buying Surge Hits Orange County California Beach Communities
Beach cities had Orange County’s biggest sales gain in January. 342 homes sold in beach cities’ 17 ZIP codes in the most recent period, +18% from a year ago. Median selling price? $615,000 in these 17 ZIPs. Of course, the surge took some discounting. Median price change in the region was down 6.8% vs. a [...]
Orange County California Home Affordability Triples!
The percentage of households able to afford an Orange County starter home has tripled since the housing market peaked, the California Association of Realtors reported. By the Realtors’ math, 60% of Orange County households could afford to buy the typical “entry-level” house in Orange County in the fourth quarter of 2010. By comparison, just 21% [...]
Demand for Orange County Homes surge 26%
Demand, the number of new pending sales over the prior month, increased by 26% in the past two weeks, adding an additional 564 homes, and now totals 2,718 pending sales. Thus far this year, demand is a mirror image of 2009, prior to any artificial government stimulus. Last year, there were 530 additional pending sales; [...]
For Sale: 15519 Casiano Court, Bel Air, CA
15519 Casiano Court, Bel Air Bed/Bath: 4 br, 5.00 ba Property Type: Single Family Square Footage: 4,200 square feet Property Subtype: Single Family Detatched Asking: $2,450,000 Cross Street: Casiano Court & Casiano Road MLS: #10-492295 Map: click here to view map See Picture Gallery Below Virtual Tour: Virtual Tour (external link) A contemporary Balinese tropical [...]
Extended Foreclosure Freeze Could Add Pressure on Housing Market
An extended halt of foreclosure proceedings could put additional pressure on an already strained housing market as federal and state officials press banks for answers on possible problems with mortgage paperwork. The issue has snowballed during past two weeks as four banks — Bank of America, JP Morgan Chase, Ally Financial’s GMAC mortgage division and [...]
New Law Gives CA Homeowners Deficiency Protection After Short Sale
California Gov. Arnold Schwarzenegger signed a state bill into law Oct. 1 prohibiting mortgage holders from pursuing deficiencies after a short sale is accepted. Before S.B. 931 was signed, distressed borrowers who sold their homes for less than the owed amount were still in danger of owing the debt left over, or the deficiency. Many [...]
Real Estate Recovery in 2013?
At least the real estate industry has 2013 to look forward to. Continuing foreclosures and an “overhang” in housing inventory will likely prolong the housing slump for several more years, said economists who spoke recently during an annual meeting of the National Association of Real Estate Editors. While home sales likely reached the bottom of [...]
Mortgage Refinance Might Have Drawbacks
The Van Ripers have moved up the date of their mortgage-burning party. When the couple purchased their St. Paul, Minn., home in 2005, they locked in a 6 percent interest rate for 30 years. But with mortgage rates at jaw-dropping lows, they refinanced into a 4.125 percent, 15-year mortgage that will save them more than [...]
A New Way to Reduce Your Mortgage
Some homeowners who already have refinanced into low-interest-rate mortgages are using a little-known strategy to make their monthly payments even smaller. Called “recasting” or “re-amortizing,” the strategy allows a borrower to lower the monthly payment on an existing fixed-rate home loan for a small fee without having to apply for a new loan and without [...]
Palm Springs Foreclosures Are Renting With Positive Cash Flow
We all have a lot of options when it comes to investing. We can invest in stocks, bonds, currencies, futures and a lot of other things that all have one thing in common. They are just pieces of paper that we put our faith in. They are basically promises to pay later, made by a [...]
Short Sale: How to Write A Hardship Letter
More and more people these days are facing the harsh reality that they are upside down on what they owe on their homes. A short sale for some, is a viable option that helps them with their situation and doesn’t damage their credit quite as bad as a foreclosure. (See attached) Here are a few [...]
If mortgage rates plunged to zero
It’ll take a steep drop in rates to get more buyers off the fence Imagine financing a home purchase with a no-interest mortgage. You’d probably never want to move again. Granted, it’s doubtful you’ll ever have that luxury. But if rates continue to drop, as some in the mortgage industry suggest they may — especially [...]
