The Ten Commandments When Applying for a Mortgage

When applying for a mortgage, certain rules must be followed so that you are able to secure financing and successfully close escrow: 1) Thou shall not change jobs, become self-employed or quit your job. When applying for a mortgage, job consistency and security are one of the key elements of the approval process. If you […]

Foreign Buyers on the Rise in California

Real estate sales to foreign buyers and new immigrants surged to new highs in the last year, according to a study released Tuesday by the National Assn. of Realtors, with the Southland being a prime destination. Overseas buyers and newcomers to the U.S. accounted for $92 billion in home sales in the 12 months ending […]

Technology for a Smarter Home: 5 ways to make your home smart for under $1,000 bucks!

Nowadays all you hear about is new technology, from electric cars that park themselves to commercial flights bound for space. Well in real estate, Smart Homes are the “new thing”! Smart-home systems start at around $2,000 and top out at more than $1 million, offering homeowners remote-controlled lighting, window shades, swimming pools, door locks, thermostats […]

Real Estate Investors Can Defer Taxes with a 1031 Exchange

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Paying taxes on capital gains for property transactions has always been a hindrance to those involved in real estate investment. Why should investors pay taxes on profit from real estate transactions if they’re putting the profit right back into some other real estate transaction? The answer: They shouldn’t. That’s exactly why the IRS created 1031 […]

US home prices rose at solid pace in January

U.S. home prices rose in January after three months of declines as a tight supply of properties likely supported prices despite slower sales. Real estate data provider CoreLogic said Tuesday that prices rose 0.9 percent in January after dipping 0.1 percent in December. Over the past 12 months, home prices have risen 12 percent, the […]

Credit standards going easy on jumbo mortgages

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Demand for non-government loans keeps growing! Despite overall originations hitting the lowest level since 2010, the past year witnessed a significant increase in the volume of home equity loans and lines of credit, in addition to originating the best-performing mortgages on record, the first report from Black Knight Financial Services, previously known as Lender Processing […]

Americans build larger, more costly homes

Newly built single-family homes in the United States are getting bigger, costlier to build and more expensive, according to the National Association of Homebuilders. This news comes on the heels of news that home prices climbed 11.8% between November 2012 and November 2013. In fact the only thing shrinking for new construction is the size […]

U.S. postpones 2014 hike in mortgage fees

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It’s a Christmas miracle! Planned fee increases that would have added to the cost of millions of mortgages will be postponed. Currently, borrowers seeking loans backed by Fannie Mae and Freddie Mac are set to pay higher upfront fees starting April 1. The fees, ordered by the Federal Housing Finance Agency earlier this month, are […]

Recovering Housing Market to Spur Economic Recovery in New Year

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Next year will likely be the first year since 2000 that home purchases outpace refinances, according to Freddie Mac’s expectations. Furthermore, the rallying housing market should set the broader economy on a brighter path, according to Freddie Mac’s U.S. Economic and Housing Market Outlook for November. “Led by a resurgent housing sector, 2014 should shape […]

Home Prices Continue Rising, Sales Steady

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Home sales continue to seesaw—while levels increased from the previous year, they dipped from previous month. Following historic seasonal trends, October home sales edged 2.8 percent lower than September, but still pushed 2.2 percent higher than sales in October 2012. Median home prices were 11.9 percent above prices seen last October. “What we’re seeing now […]