Fast Facts

Calif. median home price: October 2010: $304,220 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region October 2010: Santa Barbara So. Coast $864,000 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region October 2010: High Desert $125,060 (Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Third quarter 2010: 64 percent (Source: C.A.R.)

Mortgage rates: Week ending 11/18/2010 30-yr. fixed: 4.39 Fees/points: 0.9% 15-yr. fixed: 3.76% Fees/points: 0.7% 1-yr. adjustable: 3.26% Fees/points: 0.6% (Source: Freddie Mac)

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Local Farmer's Market

There is a new local Farmer's Market starting this Sunday. It will be open every Sunday 8:30am to 2pm at the corner of Spring & Clark.

Click here to read the Gazette article

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Fast Facts

Fast Facts

Calif. median home price: September 2010: $309,900 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region September 2010: Santa Barbara So. Coast $879,750 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region September 2010: High Desert $124,960 (Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Third quarter 2010: 64 percent (Source: C.A.R.)

Mortgage rates: Week ending 11/04/2010 30-yr. fixed: 4.17 Fees/points: 0.8% 15-yr. fixed: 3.57% Fees/points: 0.8% 1-yr. adjustable: 3.26% Fees/points: 0.7% (Source: Freddie Mac)

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Paying Off A Mortgage

Paying off a mortgage

Paying off a mortgage or even paying down the balance early might seem enticing to most borrowers. There’s the big savings in interest payments and the freed-up cash flow that can result, not to mention the emotional benefit of wiping out what for most people is the largest financial commitment of a lifetime.

Click here to read the full NY Times story.

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Lots Of 90808 Stats

Stats For 90808



Click Here For LOTS More 90808 Stats!

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90815 Stats

Lots Of Stats For 90815



Click here for LOTS more 90815 stats!

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Should you refinance if you’re over 50?

Should you refinance if you’re over 50?

With interest rates near record lows, refinancing has never looked so tempting – especially for people nearing retirement, who’d love some extra cash to pad their diminished savings. But for homeowners over 50, there’s more to consider than just a lower rate.

Click here to read the full Wall Street Journal story.

California Mortgage

California expects mortgage-aid program to begin in weeks

The California Housing Finance Agency (CalHFA) reported this week that its “Keep Your Home California” program will be delayed because of logistical issues with the program. The program was scheduled to begin Monday, Nov. 1.

MAKING SENSE OF THE STORY FOR CONSUMERS

• The “Keep Your Home California” program is a $1.83 billion government aid program that will pay down loan balances and provide monthly cash assistance to struggling California homeowners.
  
  
• One of the logistical complications that has caused the delay is the fact that Fannie Mae and Freddie Mac last week instructed their loan servicers to participate in the program, dramatically increasing the number of potentially eligible homeowners.
  
  
• Funded with federal money, the program offers four different types of cash assistance for an estimated 100,000 low- to moderate-income California homeowners. Additionally, eligible borrowers must have endured some sort of loss of income.
  
  
• The two primary forms of aid include $875 million dedicated toward unemployed Californians who need help making their monthly payments, and $790 million to be used to directly reduce mortgage loan balances.
  
  
• Although the program has been delayed for several weeks, homeowners struggling to make their mortgage payments are advised to not wait for assistance programs to begin before contacting their servicer or lender. Instead, homeowners should begin working with their lender or servicer at the first sign of difficulty.
  
  
• More information about the “Keep Your Home California” program can be found at www.keepyourhomecalifornia.org. A toll-free hotline soon will be established.
  

Click here to read the full Sacramento Bee story.

Fast Facts

Fast Facts

Calif. median home price: September 2010: $309,900 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region September 2010: Santa Barbara So. Coast $879,750 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region September 2010: High Desert $124,960 (Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Second quarter 2010: 64 percent (Source: C.A.R.)

Mortgage rates: Week ending 10/28/2010 30-yr. fixed: 4.23 Fees/points: 0.8% 15-yr. fixed: 3.66% Fees/points: 0.7% 1-yr. adjustable: 3.30% Fees/points: 0.7% (Source: Freddie Mac)

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Garage Sale!

Your Neighbors Are Having A Garage Sale This Weekend!

Please stop by

3073 Knoxville

(N/Spring & E/Palo Verde)

Saturday & Sunday

November 6 & 7

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Credit scores: How 720 became the new 680

Credit scores: How 720 became the new 680

Until recently, a credit score of 680 was something to be proud of. It meant you paid most of your bills on time, got dinged when you went shopping for a refi, but in general, had a solid enough record to get a loan at the best rates.

Click here read the full Wall Street Journal story.

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