Friday, February 24, 2012
- As I reported at the 1st of the month, properties available for sale in the North County are down a whopping 31% from last year at this time. It seems that is happening almost everywhere across the nation. So; prices are at 2001-2003 levels, interest rates are at record lows and inventories are almost 1/3 down. What does economics 101 tell us?? Time to buy?? Check out this Wall Street Journal article. Click here
Friday, February 17, 2012
Saturday, February 11, 2012
- for homeowners has been that if they owe more on their home then it is worth (underwater) they have not been able to refinance and lower their interest rate with the new low rates since the home will not appraise for the amount owed on it. However, if you are current on your payments and if your loan was backed by FNMA (fannie mae) or FMAC freddie mac) on or before 5/31/2009, you may be luck. You can now refinance your home no matter what the balance may be to the new current rates and lower your payments if you meet customary underwriting guidelines. To learn more, go to http://www.mainstreet.com/article/real-estate/more-help-homeowners-harp-20
Saturday, February 4, 2012
- Sales of all North County real estate types decreased 23% in January over December and are down 1% over January of last year. It is normal for January closed escrows to be much lower then December due to not many escrows being opened in November and December due to the holidays. Properties in escrow are up 15 % from last month and up 24% over January of last year. Active listings on the market are down 31% when compared to the same time last year.