Housing Market Trends Category

Wednesday, June 22nd, 2011

San Bernardino County’s Best Real Estate Company

San Bernardino County’s Best Real Estate CompanyI’m happy to announce that Century 21 Lois Lauer Realty is celebrating our 35th anniversary this month. In addition, Thank You for voting us THE SUN Newspaper’s 2011 Reader’s Choice as ‘San Bernardino County’s Best Real Estate Company’!

  • Did you see the recent news article titled ‘Help for Homeowners’? Bank of America just announced that it will be opening a ‘specialized counseling center in Colton to assist homeowners on the brink of losing their homes.’ It will be only 1 of 28 in the nation the bank will open with the specific purpose to assist their struggling consumers. It is due to open this month… I’ll keep you posted.
  • On July 1, Carbon Monoxide Detectors will be required in ALL homes. It’s a new law and a good one. The detectors are an inexpensive [under $20] way to prevent a tragedy. You can find plenty of them at Home Depot, Loews, and, I’ve been told, at Target and WalMart. One detector should be placed on the wall… not the ceiling, outside of the sleeping areas of your home. Also, one is required on each floor of a multi-level house, including the basement.

Be sure to have these installed in every home you may have as rental property. Call me if you need more information. Thanks and let’s keep hoping for a lasting recovery for our economy. You deserve it.

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Friday, March 25th, 2011

Homeownership Makes $ense .. Part II

Homeownership Makes $ense .. Part II

Last month’s Post discussed the Rent vs Buy logic in our local market.  It does make sense! This month I want to share some quotes from the ‘experts’ regarding the health of the Real Estate market… both locally and nationwide.

Beacon Economics “Forecasting a steady but prolonged recovery for California”

Moody’s Analytics “Housing is the most affordable it has been in decades”

Prudential Relocation Services “According to a recent survey….86% [buyers and sellers] believes that real estate is still a good investment”

United States Conference Board “The consumer Confidence Index is now at a three-year high”

“What about Interest Rates?”

Mortgage Rate Trend Index by Bankrate.com “This week (March 24-March 30) the panelists were evenly split (at 47%) among those who believe rates will rise and those who think they’ll (interest rates) remain unchanged. A scant 6 percent believes mortgage rates will fall.

Almost half of all mortgage lenders believes rates will begin to rise next week… virtually all agree that rates will rise very soon. If you know someone who is thinking of buying AND taking advantage of historical low rates … now is that time and I can help!

Extra, Extra !!! My California Association of Realtors (CAR) has just launched this new site today! shortsalescalifornia.org. It is a great consumer resource for Short Sale advice and information.

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Posted in Homes For Sale, Housing Market Trends, Interest Rates, Low Monthly House Payments, Quit Renting - Buy Now! | No Comments »

Tuesday, February 15th, 2011

Homeownership Makes $ense – Quit Renting Now!

Homeownership Makes $ense

Owning a home is a dream for many, but does it make financial sense? Last week, Trulia released its national survey of Rent vs. Buy and found that, in 72% of the nation, the monthly payment to own a home was less expensive versus renting the same house. We all know that real estate, generally, is more expensive in Southern California compared to most of the country. So what does the Rent vs Buy look like here? In Yucaipa/Calimesa, the average 3 bedroom, 1500sqft home sold last month for $155,000. The FHA payment for this house @ 4.75% is $ 1111.00/month… fixed rate! The rents for this house range from $1300 – $1700. And….. a 2 bedroom is selling for $110,000 with a monthly payment of $ 788.00 versus rents of $850-$1100. Call me if you, or someone you know, would benefit from a ‘rent vs buy’ analysis!

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Friday, January 14th, 2011

Homeownership after Foreclosure? Yes!

Homeownership after Foreclosure? Yes!

…and it can happen much sooner than you may have been told.

 

Federal loan guidelines regulate how soon a borrower may purchase after a Foreclosure, Short Sale and/or Bankruptcy. Lenders may use the following time frames when qualifying a buyer wishing to repurchase a home:

 

*  Foreclosure: A borrower may apply 3 years after the foreclosure; if the loss was due to ‘extenuating circumstances’ i.e.. job loss, divorce, medical.

*  Short Sale: Homeownership may be possible 2 Years after the sale for the same ‘extenuating circumstances’.

*  Bankruptcy: Again, 2 Years for special circumstances.

Many homeowners began losing their homes in 2008, which means that for some, the dream of owning again may be possible this year!

 

Call me and I can have a qualified and professional loan officer contact any friend or family you feel may be eligible.

Mary Casey, Your Yucaipa Realtor

(909) 534-8715

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Posted in Foreclosure, Homes For Sale, Housing Market Trends, Short Sale | No Comments »

Monday, November 15th, 2010

Today’s Interest are as low as the 1940′s!

Today’s HOT news item:

By now, you may have heard about historically low interest rates. This IS true. FHA started in 1934 with a mortgage interest rate of 5%. From 1939 thru 1950, that rate was a stable 4.5%. The highest FHA rate was in 1981 at 17.5%. Today, that FHA rate is 4.25%!! What this means is a 30 YEAR FIXED RATE payment on $180,000 loan is less than $900.00/month [Principle & Interest] Toss in taxes and insurance and it still is less than rent. Better than that is how amazed you’ll be to see what $180,000 – $200,000 will buy in today’s market! In addition, this rate is available for rate/term refinancing to lower monthly payments or your loan term to 15 years! The savings can be huge. Call me for more information and please pass this along to family and friends.

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Posted in Housing Market Trends, Interest Rates, Low Monthly House Payments, Quit Renting - Buy Now! | No Comments »

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