As the European debt turmoil continues investors are pouring their money into U.S. government securities and as a result mortgage rates have fallen to their lowest level so far this year.
Freddie Mac reported today that the average rate on a 30-year fixed mortgage dropped to 4.78 percent this week down from 4.84 percent last week which is the lowest level since early December when rates hit 4.71 percent.
The European debt crisis has pushed yields for both 10-year and 30-year Treasury bonds to their lowest levels of 2010. Rates on 30-year home loans and 10-year notes often rise and fall in line with one another.
Rates were pushed down to very low levels last year by a campaign that the Federal Reserve started in order to reduce borrowing costs for consumers. Mortgage rates were expected to begin an upwardly climb after the program ended this spring, but, instead they have dipped primarily due to fears that the government of Greece would default on its debt and in turn boosted the demand for U.S. Treasury.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Thursday, May 27, 2010
Protect your Investment - Step 8
Whew. That was exhausting. But you’re done! Well, sort of.You’ve closed and moved in, but now you’ll need to protect your investment for years to come. And you can do so by performing routine maintenance on your home’s systems, depending on their age and condition. A good rule of thumb is to watch for signs of leaks, damage, and wear. If you fix small problems early, you will save yourself from having to spend big money later.
And remember that kind, real estate professional who assisted you throughout the process? Well, after closing your agent can still help you with such things as providing information for your tax returns, finding contractors and repair services, and even tracking your home’s current market value.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
And remember that kind, real estate professional who assisted you throughout the process? Well, after closing your agent can still help you with such things as providing information for your tax returns, finding contractors and repair services, and even tracking your home’s current market value.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Two Months Of Gains In New Home Sales
April posted another big gain in new home sales as buyers raced to sign contracts for new homes before the two government home-buyer tax credits expired on April 30th.
The Commerce Department reported today that sales of new single-family homes in April jumped up 14.8 percent to a seasonally adjusted annual rate of 504,000 units which followed March's gains of 29.8 percent which was the biggest monthly increase in almost 50 years.
Both March and April had a higher volume of buyers trying to sign sales contracts before the tax credits expired. Furthermore, low mortgage rates combined with the tax incentives really fueled purchases during those two months.
Despite the large amount of new home sales, home values did not get a boost. The median sales price fell to $198,400 which is 9.6 percent below the March median price for a new home.
March and April's big surge in new home sales were the highest levels of sales since May 2008. Sales around the nation were higher in April. In the Midwest sales were up 31.6 percent with the West showing an increase of 21.7 percent. Even the South posted a 10.8 percent increase.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
The Commerce Department reported today that sales of new single-family homes in April jumped up 14.8 percent to a seasonally adjusted annual rate of 504,000 units which followed March's gains of 29.8 percent which was the biggest monthly increase in almost 50 years.
Both March and April had a higher volume of buyers trying to sign sales contracts before the tax credits expired. Furthermore, low mortgage rates combined with the tax incentives really fueled purchases during those two months.
Despite the large amount of new home sales, home values did not get a boost. The median sales price fell to $198,400 which is 9.6 percent below the March median price for a new home.
March and April's big surge in new home sales were the highest levels of sales since May 2008. Sales around the nation were higher in April. In the Midwest sales were up 31.6 percent with the West showing an increase of 21.7 percent. Even the South posted a 10.8 percent increase.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Monday, May 24, 2010
Close - Step 7
You’ve made an offer and performed due diligence, which means you’re now in the “home” stretch, pun intended. But you have a few preclosing responsibilities, and these include:
Staying in control of your credit and finances, first and foremost.
Keeping in touch with your agent and lender and returning all phone calls and paperwork promptly.
Communicating with your agent at least once or twice a week, and verifying with your lender that all mortgage funding steps are completed.
Conducting a final walk-through of the home with your agent.
Confirming with your agent, home insurance professional, and lender that you have the settlement statement, certified funds, and evidence of insurance lined up prior to closing.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Staying in control of your credit and finances, first and foremost.
Keeping in touch with your agent and lender and returning all phone calls and paperwork promptly.
Communicating with your agent at least once or twice a week, and verifying with your lender that all mortgage funding steps are completed.
Conducting a final walk-through of the home with your agent.
Confirming with your agent, home insurance professional, and lender that you have the settlement statement, certified funds, and evidence of insurance lined up prior to closing.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Tuesday, May 18, 2010
Perform Due Diligence - Step 6
Just because you love a particular property doesn’t mean that it’s perfect. In fact, this is where reason has to trump emotion. You’ll need to have a property inspection (which we highly recommend you attend) that will hopefully expose all the issues a home might hide. This way you’ll know exactly what you are getting into before you sign closing papers.
Your main concern is the possibility of structural damage. This can come from water damage, shifting ground, or poor construction when the house was built.
Don’t sweat the small stuff. It’s the inspector’s job to mark everything discovered no matter how large or small. Things that are easily fixed can be overlooked.
If you have a big problem show up in your inspection report, you should bring in a specialist and if the worst-case scenario turns out to be true, you might want to walk away from the purchase.
And even if your home passes inspection with flying colors, you’ll still need to buy a home owner’s insurance policy protects you against loss or damage to the property itself and against liability in case someone sustains an injury while on your property.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
Your main concern is the possibility of structural damage. This can come from water damage, shifting ground, or poor construction when the house was built.
Don’t sweat the small stuff. It’s the inspector’s job to mark everything discovered no matter how large or small. Things that are easily fixed can be overlooked.
If you have a big problem show up in your inspection report, you should bring in a specialist and if the worst-case scenario turns out to be true, you might want to walk away from the purchase.
And even if your home passes inspection with flying colors, you’ll still need to buy a home owner’s insurance policy protects you against loss or damage to the property itself and against liability in case someone sustains an injury while on your property.
Darin Weidauer
Weidauer Group - The Leader in Real Estate
Realtor - Los Angeles - Las Vegas
CA DRE License #01870184
NV DRE License #S.0070208
702-249-8912
darinweidauer@weidauergroup.com
http://www.weidauergroup.com
1601 Pacific Coast Hwy., Suite 265
Hermosa Beach, CA 90254
3090 S. Durango #100
Las Vegas, NV 89117
Los Angeles Area
CA DRE #01870184
Search for your new home below!
English
http://www.imrmls.com/servlet/lDisplayListings?LA=EN
Spanish
http://www.imrmls.com/servlet/lDisplayListings?LA=ES
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