Southern California home sales flat in January as prices fall
By Alejandro Lazo
February 15, 2012
Home sales in the Southland were mostly flat in January as prices fell.
The number of newly built and previously owned homes sold was up 0.4%
last month from January 2011. A total of 14,523 single-family homes, town homes
and condominiums sold in the six-county region, according to data firm
DataQuick.
Builders highlight often-hidden costs of buying a foreclosed home
By Kenneth R. Harney
February 19, 2012
Builders say the costs of their houses are built into the price, but
fixing up a foreclosure can cost thousands of dollars extra.
Home builders are switching tactics and confronting head-on one of their
biggest nemeses: foreclosed houses that not only lure buyers away with deeply
discounted prices but simultaneously depress the appraisal values of newly
built homes.
Santa Barbara Real Estate through the end of January ‘12 for Montecito, Hope Ranch, Santa Barbara, Goleta, Carpinteria
and Summerland
Summary by Gary Woods
This is an analysis of the Santa Barbara Real Estate market including Carpinteria/Summerland, Montecito, Hope Ranch, downtown Santa Barbara
and Goleta through the month of January 2012. Starting with the Home Estate/PUD sector for themonth of January 2012 we had 69 sales compared to 42 in January 2011. The
median sales price after falling for the previous 4 months rose from $707,000
in December to $810,000 in January putting it just slightly behind the $819,650
of January 2011.
Average Mortgage Rates Ease Setting New Record Lows
MCLEAN, Va., Feb. 2, 2012 /PRNewswire/
– Freddie Mac (OTC: FMCC) today released the results of its Primary
Mortgage Market Survey® (PMMS®), showing average mortgage rates
dropping to new all-time record lows as data on economic growth fell short of
market projections. All products in the PMMS survey, except the 1-Year ARM,
averaged new lows.
How to Value Investment Property
January 30, 2012
by Marco Santarelli
Identifying your property’s value is crucial. As a real estate investor, you need to be aware of the three ways to determine the value of your real estate investments to guide you with your purchase, justify your selling price, or simply learn the basic market valuation techniques.
Fannie Mae and
Freddie Mac revise policies on mortgage forbearance
By Kenneth R. Harney
January 22, 2012
On loans they own or have securitized, Fannie and Freddie are directing
servicers to suspend or reduce monthly payments when a borrower can show a job loss.
Shopping for the best rates
The New York Times
Interest rates are the lowest in decades, enticing many borrowers to shop for a
loan. Mortgage lenders adjust their rates based on perceptions of risk,
so unless the borrower can show they’re a low-risk individual, the borrower is
unlikely to qualify for a rate that matches those seen in recent advertisements
and headlines.
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