Wednesday, November 19, 2008

Mortgage Interest Rate Update

As of November 19, 2008 the conforming interest rates has fallen to 5.875%. This is the 30 year fixed rate for loan up to $417,000.

Conforming Jumbo loans from $417,001 to $729,751 is at 6.25%.

Jumbo loans LOAN AMOUNTS $729,751-$2,000,000
5/1 Year Fixed 5.875 %
7/1 Year Fixed 6.125%
Interest only available

Information provided by Jeff Fink at LA Mortgage.

Inventory of homes continue to slide. We are currently at a 6-7 month supply of homes which is signaling that homes are selling. If you are ready to purchase a home, please call me.

Richard Johnston, Rodeo Realty
818-730-4128

Friday, November 14, 2008

Current Interest Rates Los Angeles

CONFORMING, CONFORMING JUMBO, FHA, SUPER JUMBO LOANS
November 14, 2008
Conforming Limits: $100,000 to $417,000
Rates 6.00% 30-Year Fixed

CONFORMING TEMPORARY JUMBO
Conforming Jumbo: $417,001-$729,751
Rate: 6.5% 30 Year Fixed


JUMBO LOANS
LOAN AMOUNTS $729,751-$2,000,000
5/1 Year Fixed 5.875 %
7/1 Year Fixed 6.125%Interest only available

FHA LOANS LOAN AMOUNTS TO 97.5% LOAN TO VALUE
30 Year Fixed $100,000-$ 362,790 6.375%
30 Year Fixed $362,791-$729,750 6.75%

Information provided by:
Jeff Fink
LA MORTGAGE INC. a Rodeo Realty company

Wednesday, November 12, 2008

San Fernando Valley Market Update

Hi Everyone! So what is going on in the real estate market here in the San Fernando Valley?

The bottom end of the market, homes priced between $250,000 and $400,000 are selling very quickly. It's not uncommon to see multiple offers on short sale homes and bank owned homes. Expect to see bank owned homes selling within a few days.

I'm predicting that single family homes priced between $250,000 and $400,000 to bottom out by first quarter or mid 2009. What this means is that if you wait any longer, you will start to see even more home-buyers entering the marketplace and home prices rising.

I do predict home prices between $800,000 and $1.5 million to drop another 10-15% and should bottom out by 2010. What this means that waiting to purchase in mid-2009 should be a good bet.

To search for available bank owned homes visit: http://www.bankowned.la

To all the homes for sale in an area, visit: http://www.properties.la

Monday, November 10, 2008

REMAX Sherman Oaks

Sherman oaks RE/MAX
http://www.homes.la/

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