Long-term mortgage interest rates were down again Friday with the benchmark 10-year Treasury bond yield dipped to 3.87 percent.
The 30-year fixed-rate average sank to 5.57 percent, and the 15-year fixed rate slid to 5.11 percent. The 1-year adjustable rate was down at 5.38 percent.
If you have a loan with an adjustable rate, it may be a good time to look at refinancing.
If you are looking to purchase a home, rates are still historically low.
As always do your homework with a good mortgage broker to look at your particular situation.
www.lisacartolano.com
Tuesday, January 8, 2008
Friday, January 4, 2008
Is Real Estate In California a Good Investment?
This article on Zillow provides some perspective when evaluating your return on investment in California Real Estate. Even though values in the state have declined somewhat this past year, a property purchased 5 years ago can see as much as a 56% increase in value and a home property purchased 10 years ago can see as much at 110% increase in value.
Some food for thought if you are considering purchasing property or if you already have.
Here is the link to the article on Zillow: California Real Estate
Some food for thought if you are considering purchasing property or if you already have.
Here is the link to the article on Zillow: California Real Estate
Wednesday, January 2, 2008
Buying In the Current Market-- Is It A Good Idea?
When the housing market slows down, buyers often wait in the wings to wait for a sign that the market has recovered. The problem is the only way to really know when the market has changed is after it already has.
You can't time the market.
A slow market is perceived as an opportunity by some buyers, It often times takes longer for listings to sell and inventory of unsold homes tends to grow. This gives buyers more choice. Typically a buyer will find that when submitting an offer they are not competing with other buyers and are able to negotiate a better deal.
You will want to be careful about what you buy and how you finance the purchase.
A risk of buying in a slow market is that the value of what you buy might drop before it rises. Or prices could stay flat for a period of time which means you won't build equity unless you pay down the principal on the mortgage. If you need to move during a time when prices are soft you may not be able to sell for the price you purchased the home at. To help mitigate this risk, don't buy for the short term. Give careful consideration to the type of mortgage you obtain and avoid riskier types of loans.
A benefit of buying in a soft market is that you have the opportunity to buy at a reasonable price, without having to compete with other buyers. If you are purchasing a home to live in and are planning for the long term benefit of home ownership, now is a good time to look.
You can't time the market.
A slow market is perceived as an opportunity by some buyers, It often times takes longer for listings to sell and inventory of unsold homes tends to grow. This gives buyers more choice. Typically a buyer will find that when submitting an offer they are not competing with other buyers and are able to negotiate a better deal.
You will want to be careful about what you buy and how you finance the purchase.
A risk of buying in a slow market is that the value of what you buy might drop before it rises. Or prices could stay flat for a period of time which means you won't build equity unless you pay down the principal on the mortgage. If you need to move during a time when prices are soft you may not be able to sell for the price you purchased the home at. To help mitigate this risk, don't buy for the short term. Give careful consideration to the type of mortgage you obtain and avoid riskier types of loans.
A benefit of buying in a soft market is that you have the opportunity to buy at a reasonable price, without having to compete with other buyers. If you are purchasing a home to live in and are planning for the long term benefit of home ownership, now is a good time to look.
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