Money Saving Tax Tips - Paying Down Mortgage
Now is the time to make the time in-between those holiday get-togethers to review your finances and examine your tax liability before year-end while there is still some time to save money. Read More

Rebound in Home Construction shown in November
Construction of new homes showed an increase during the month of November. This positive figure was posted even though applications for new home permits shoed a decrease for the 10th consecutive month. Read More

Buyer's in California Become Skeptical as Home Sales Drop
The home sales in California fell in November to the lowest level in that month in 8 years.

In total, 39,200 resale and new condominiums and homes were sold across the state in the month of November. This figure is down a total of 23.4% from 2005. This information is being reported by DataQuick Information Systems. 1998 was the last year when home sales were this low. In 1998, 37,929 homes were sold. Read More

Nine Trade Groups are opposed to Changing Mortgage Rules
On Wednesday, December 20, 9 lending trade groups expressed their desire that mortgage regulators reconsider the proposed tightening of guidelines regarding the low introductory rate mortgages that have been being offered. Read More

Members of the "Millennial" Generation Turn Their Focus Towards Making a Difference.
Companies can attract customers from the "Millennial" generation by touting there good works.

People born between the years of 1979 and 2001 are now known as the Millennial generation. Individuals born during this period have displayed in increased interest in a company's commitment to environmental and community causes when selecting services or products to purchase and even their prospective employers. The results of a recent survey showed that over 60% of millennials feel a responsibility to make a difference in the world. Over 75% feel that corporations should join them in their efforts. Read More

Real Estate Market Expected to Rebound in 2007
A chief economist for the MBA (Mortgage Bankers Association), Doug Duncan, predicts the rate for a 30-year fixed mortgage to stay around the 6.5% mark for the remainder of this year, and reach a level of 6.8% by December 2008. Read More

Senior Market Targeted by Developers in Urban Areas
Senior citizens who prefer a city lifestyle to that of country living are finding more housing options being made available to them as developers focus their marketing efforts in there housing needs. Read More

The Wealth Effect of Home Ownership May be Ending
According to James Kennedy, an economist with the Federal Reserve Board; in the 3rd quarter of 2006 alone, home owners extracted equity totalling $113.5 billion. This is a 52% decrease from the $235.9 billion that was taken out of home values in 2005. Read More

First Time Buyers Get Back Into the Game
Real estate professionals report that sellers are realizing the need to cut the asking prices of their homes to make a sale. Couple this with the recent decline in interest rates, and first time buyers are returning to the market once again. Read More

Second Mortgages to Blame?
An increasing number of homeownerships are ending in foreclosure, not just in San Diego but the rest of the country as well. This in turn has caused lenders to tighten their standards for underwriting. A new report shows that popular second mortgages could prove detrimental to their efforts. Read More

Any Increase of Interest Rates Depends on Inflation
The Federal Reserve is to meet Tuesday, December 12 and is expected to leave interest rates as they are. This prediction adds hope that they will begin to cut rates in the coming year. Read More

Upward trend of Existing-Home Sales Expected in 2007
The NAR (National Association of Realtors) has forecasted a gradual increase in existing-home sales throughout 2007. However, sales of new homes are predicted to continue on a downward trend. Read More

Lower Interest Rates Predicted in 2007
A UCLA Anderson Forecast reported December 7 that the U.S. economy is showing signs of weakening, therefore setting the stage for lower interest rates to be seen in 2007.

As a result of a weak housing market, the forecast predicts that the real gross domestic product will increase no greater than 2.7% in 2007. Read More

Personal Income Growth Falls Behind Pace of Energy and Housing Costs
The fixed costs of people's housing and energy remain very high in comparison to individual income growth.

The latest United States Metro Economics report, which is produced by the United States Conference of Mayors, reports that this problem could be especially difficult for home owners with ARM or adjustable-rate mortgages. These people can be faced with even higher housing costs, as interest rates rise. Read More

Carlsbad / San Diego - One of the Safest Communities
The Farmer's Insurance group of companies has recently published their third-annual ranking of the safest places to live in the U.S. According to the study, St. George, Utah is the country's safest place to live. Read More

Latest Pending Home Sales Figures Indicate Stabilizing Market
The National Association of Realtors (NAR) reports that pending home sales for the month of October 2006 fell 1.7% from the previous month, and a total of 13.2% against the 2005 figures. Read More

Inexperienced Home Buyers Pay More for Title Insurance
Insurance regulators have sent out alerts to consumers warning them that some title insurance companies may be utilizing two types of rates. One set of rates is for knowledgeable, experienced buyers and the other for less knowledgeable, inexperienced buyers. Read More

NAR (National Association of Realtors ) Says it's Time to Buy a Home
On Friday, November 3, the National Association of Realtors launched a major advertising campaign urging perspective home buyer's that have been putting off buying a home to do so. Six of the nation's leading newspapers will feature the ads. Read More

Recent Study Has Identified Areas Experiencing Fastest Growth
Aging baby Boomers and young immigrants will have the most significant affect on an areas growth in the future. This theory has been reported in a recent study completed by the MBA (Mortgage Bankers Association.) Read More

New Homes Sales in California on the Rise
The Southern California real estate market has seen an increase in sales of new homes compared to 2005.

The data was collected on a weekly basis by the data research firm of Ryness Co. One report shows that buyers in Santa Clara County viewed fewer homes during the week of November 19 than a year ago, however the tours created 32% more sales than in 2005. Read More

ULI Reports States Home Owner Equity is Fine
The Urban Land Institute (ULI) reports in their annual outlook entitled "Emerging Trends in Real Estate 2007" that home equity losses are not a concern for the majority of home owners, even though home prices could remain flat. Read More

Home Buyers, Importance Placed on Energy Costs
Buyers are beginning to place increased importance on the location of their home in relation to their daily commute. Buyers are displaying a heightened sense of awareness with regards to the overall energy costs of owning a home. Read More

HOME LOAN FRAUD IS UP
Be careful of buyers writing an offer over the price ($50,000-100,000) then asking for it as a credit to the mortgage representative, to a construction company or to the agent.

They will try to persuade the seller by saying the net income will be the same so they should not care how it is paid as long as they net the same amount. The kick back is not written clearly in the offer. Read More

The Psychology which surrounds money is driving the housing market
Psychological studies have shown that people's emotions have a direct impact on decisions that are made where money is concerned. Read More

Third Quarter displays a Positive Picture for Home Buyers
Prices of homes declined, sales activity slowed down, and inventory levels decreased in several metropolitan areas showing improved conditions for potential buyers. This information is from a survey which is taken quarterly by the National Association of Realtors (NAR). Read More

California Real Estate proves to be a profitable investment
Title insurer First American Real Estate Solutions, based in Santa Ana reports, most California home sellers saw their investments nearly double in value in only five years.

Sellers in San Diego, including La Jolla and Del Mar, saw a median 91% profit on their homes. A typical example of growth on a home that was purchased a brief 63 months prior for $269,000, are now selling these properties for $512,000. This makes for a $243,500 gain. Read More

Lower energy prices could signal end to inflation scare
A report produced by the U.S. Labor Department shows that the consumer price index fell to a seasonally -adjusted level of 0.5% in the month of October. This figure has offset the reported decline in September of this year. On the whole, prices have increased 1.3% over last year. This marks the smallest increase since June of 2002. Read More

Home Builders Display a Rise in confidence in Market
The National Association of Home Builders reports that it has seen a decrease in its member's confidence in the market fall for 8 consecutive months to a rating of 30; the lowest rating in 15 years. Read More

Study shows Baby Boomer population plans to stay put
A recent study of baby boomer home owners age 50 and up want to stay in the homes they currently own for the time being. The study showed a strong desire to "stay put" and plan for improvements and remodels rather than relocation to other homes. Read More

Recommended ways to save for retirement
Many will find this surprising, but a typical Employee pension plan has been found to be the least efficient method of saving for future retirement. Owner-only 401 (k) plans are good for self-employed individuals with a spouse and no other additional employees. Account holders can contribute a maximum of $15,000.00 on an annual basis. All contributions are deferred from taxes. A variety of investment options are available including, real estate, mutual funds and stocks. Read More

REALTORS gather together to help rebuild New Orleans
Today's news is not so much about the San Diego / La Jolla real estate market, but I thought it was a worthwhile posting. It is nice to see realtors coming together and lending a helping hand.

More than 2 thousand realtors and their friends will be donating their time during the upcoming 2006 Realtor conference and Exposition. Realtors will be assisting in a variety of projects intended to improve the lives of the city's residents. Read More

Younger consumers putting off the American dream.
The third quarter of this year showed a continued rebound of the rental market. A sign that more Americans are tending to put off purchasing the home of their dreams. Read More

Mortgage Applications see sharp increase over past week
The total number of mortgage applications showed a significant increase of 8.8% over the past week. Refinance applications were up 11%. This made up 46.3% of total applications submitted. Read More

Advice for sellers: Create a selling timeline and profile
Here is some great advice for sellers in a changing market:
1. Prior to listing, create a profile of who you think will buy your home and be realistic. (young, married couple, single male, family with 3 children, etc.)

2. Know your competition. Know the asking prices of homes for sale in your area. Know what the homes feature, and how similar they are to yours. Read More

"Buydowns" expected to see resurgence in popularity
A "buydown" is when sellers arrange to put money toward their buyer's monthly mortgage payment. This occurs during the first years of the life of the loan. This practice is expected to regain popularity with the slowing
of the housing market. Read More

Lenders offer cash discounts to attract customers
In reaction to the recent decline of mortgage applications, lenders have adopted new incentives to entice customers.

Lenders have recently competed with each other by offering borrowers options that decrease their mortgage expenses by delaying payments on the principal of the loan. Practices of this sort have received strong criticism from some bank regulators. Read More

Some Seniors find Reverse Mortgages appealing
Older home owners are looking more towards a reverse mortgage because most of their net worth tends to be tied up in the value of their homes. Prior to entering into a reverse mortgage, home owners should first be aware of some basic facts about their property. How much equity do you have in your home? Keep in mind that if the home is currently mortgaged the owner will need to utilize the proceeds from the reverse mortgage to pay off the existing loan. Read More

Home Sales in September slow while inventory shrinks
Sales of existing homes slowed down last month while the number of homes available for purchase shrank.
Existing home sales in September, which includes single family, condominiums, co-ops and townhomes, fell 1.9% from the previous month. When compared with the previous year, September was the third strongest month on record; sales of existing homes were down 14.2%. Read More

In Lieu of warnings otherwise - customers continue to opt for riskier loans
In spite of the issuance of warnings issued by both federal and state regulators, borrowers are continuing to choose nontraditional loans. These types of loans pose the risk of an unstable payment structure that could increase rapidly throughout the term of the loan. Read More

Get a CLUE to avoid home buying surprises
Buyers may not be aware that there is a tool available to assist them in avoiding nasty surprises following the close of a deal. It is called a CLUE report and is offered by a company named ChoicePoint Asset. CLUE is an acronym for the words Comprehensive Loss Underwriting Exchange history. Read More

Request a Title search to avoid unforeseen delays
In the past five years, many properties have changed hands, causing an increase in possible errors that may have been made on home title. It is recommended that prospective home buyers request a title search prior to placing their property on the market to resolve any past errors that could interfere with the eventual sale of their home. Read More

Average Sale Price can be masked by current trend to offer incentives to buy
As the market continues its downturn, demands for cash back
at closing are occurring with greater frequency.

When sellers give buyers cash back within a transaction it creates possible legal liabilities for both the broker and the seller. It is recommended that real estate agents avoid getting caught in the middle of such a tenuous situation. Read More

Federal Reserve Holds Rates Steady
The Federal Reserve voted to keep interest rates at 5.25% at it's last meeting; an indication of a slowing economy, and that the need to raise rates will not arise anytime too soon. This recent meeting marked the second time in a row that the Fed decided to hold interest rates steady without adjustment. Read More

Home Owner's Insurance
It is a good idea to have a solid home owner’s insurance policy in place prior to applying for a home loan. All lenders currently require that a policy be in place and active prior to the funding of a loan. Read More

Recent Home Buyers more careful with their money
Compared to 2005 figures, an increased number of buyers are purchasing homes that are more within their individual price range. Theses numbers are up to 78% compared to 67% in 2005. (Source: Harris Interactive) Read More

San Diego Home Prices Fell in September
The average price of existing homes in the San Diego County area fell for the 4th consecutive month. Prices are down 1.6% to an average price point of $566,000. 2001 is the only year since 1998 that prices have not fallen in the months of August and September. Read More

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Housing market worst may be over: Greenspan
The U.S. housing market appears to be emerging from its recent travails and the "worst may well be over," former Federal Reserve Chairman Alan Greenspan was quoted as saying on Friday.

"I suspect that we are coming to the end of this downtrend, as applications for new mortgages, the most important series, have flattened out." Read More

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Credit Reports Determine Mortgage Rates
Our individual credit reports scores determine the amount that we will pay for a mortgage. Currently there are three companies that compile our credit activity and then calculate a score for us. Read More

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SIGNIFICANT REAL ESTATE LAWS FOR 2007
With the 2006 legislative session drawn to a close, several new laws have been enacted that may concern REALTORS®. The following is a summary of new laws that may impact your real estate practice. Read More

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