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Things to Do Before Selling Your Home

Many homeowners are gearing up to list their homes in what is expected to be a very busy and competitive selling season. Here are a few tips to consider to maximize your potential profit. DECLUTTER – Begin by cleaning and eliminating clutter. Buyers need to imagine that they are already living there, and things like…

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Last chance for mortgages below 5%?

Last year’s 3.5% mortgage rates are long gone — and experts say consumers who hold off buying or refinancing homes in hopes that sub-4% interest levels will return could miss out on today’s sub-5% rates, too. “We think 3.5% rates are in the rearview mirror now,” says Mike Fratantoni, chief economist at the Mortgage Bankers…

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2014 Housing Outlook

If you’re looking to sell a home, 2014 will be a good year though probably not as good as what we’ve experienced in the last two years. If you’re looking to buy however, 2014 will likely be a better year than 2013. These are just some of the expectations shared by Jonathan Miller, President and…

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Change is Coming To Next Year’s Mortgage Landscape

There are new factors in the Buyer’s ability to purchase in 2014. The Federal Housing Administration (FHA), the government’s insurer of home loans, just announced it would be lowering its loan limit in the very highest cost areas from $729,750 to $625,000, starting Jan. 1, 2014. The FHA has already raised premiums and fees, and…

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C.A.R.’s “2013 Survey of California Home Buyers” Reveal Optimism About Future Home Prices

• Buyer optimism about the future direction of home prices continued to grow, with the majority of buyers (60 percent) believing prices will go up in five years and 36 percent seeing prices rise in one year, up from 41 percent and 25 percent, respectively, last year. • Buyers cited price decreases (38 percent), favorable prices/financing (12…

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Mobile technology dominates home buying process, REALTOR® survey finds

  LOS ANGELES (July 17) – Demonstrating the proliferation of mobile technology into nearly every facet of our lives, more than eight out of 10 home buyers are accessing home information on their smart phones and computer tablets, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) “2013 Survey of California Home Buyers.” “With more and…

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Your cost for waiting to buy a home: $46,000 in mortgage interest

In an 7/22/13 article by Brian O’Connell on TheStreet.com: ” By waiting until this summer to buy a home, fence-sitters may have added tens of thousands of dollars to their home price. That’s because mortgage rates are moving upward, and at a fairly aggressive pace. According to the BankingMyWay Weekly Mortgage Rate Tracker, 30-year fixed rate mortgages shot…

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Mortgage Underwriting Rules Eased For Seniors With Assets

Here’s a heads-up for the seniors whose post-retirement monthly incomes aren’t enough to qualify for a mortgage under today’s tough underwriting standards. A little-known policy revision now allows seniors and others to use certain retirement account balances to supplement their incomes for underwriting purposes without actually tapping those balances or drawing down cash, say top…

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Foreclosure activity plunges in California with new laws in effect

In an article in the Los Angeles Times, dated 4/23/13, “New California foreclosure actions posted a sharp plunge in the first quarter to levels not seen since the last housing boom. Lenders filed 18,567 mortgage default notices on California houses and condominiums during the first three months of the year. That was a 51.4% drop…

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SoCal home prices up 21%; February sales volume hits 6-year high

Excerpt from L.A. Times article dated 3/13/13: “Southern California once again saw strong home price increases last month as the percentage of absentee buyers hit a record high and cash buyers remained a dominant force. The six-county Southland saw the median home price rise nearly 21% over the year, while remaining essentially flat compared with…

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