June Newsletter
missed it or have not joined my mailing list, click the link below to read the latest market news, real estate market, and what is going on in the Desert. Enjoy!
Posts Tagged ‘La Quinta Real Estate Market’
La Quinta & Palm Springs Area Real Estate Market
about a possible government default have had negative effects on both interest rates and consumer sentiment and are directly impacting the housing market. While new home sales continued to improve as tight supply remained an issue in the existing housing market, demand could dip in the short term as rates remain elevated. With consumer spending staying solid and inflation not easing in the latest reading, the housing market could face additional headwinds as the Fed contemplate on having another rate hike in their June meeting.
Good Interest Rates and Homebuying Financing
Good Interest Rates and Homebuying Financing options for buyers who qualify and are interested in using a Jumbo Loan to purchase their home. Rates have jumped quite a bit this week as the 10-year Treasury has now cleared over 3.701% at tim...
May is “National Home Improvement Month.”
May is “National Home Improvement Month.” And what better way to celebrate than to find the Joy Levels in home remodeling projects?
The National REALTOR Association recently sent out a study of the costs of home remodeling projects vs Joy-specific home remodeling projects bring.
Let’s Stop the Madness!!
about a “penalty” that high FICO borrowers would have to pay on behalf of lower FICO borrowers. Initially, I was a little confused as to why all of the sudden interest in this topic from friends and family who typically have little interest in the mortgage industry aside from the occasional, “How’s business?” discussion.
A Word from Dean Rathbun
A Word from , Dean Rathbun with United American Mortgage : Rates are up again this week (April 21st, 2023) and I am now baffled. Yields continue to push up as the debate goes back and forth on the FED’s next move in May. When I did my first loan back in 1988 there was no such thing as 0 point loans. 1 or even 2 points were the common costs paid by consumers when closing a loan and analyzing their interest rate options. This is coming back now as the secondary markets have stopped paying up for mortgages with zero points. Why?…The mortgage markets are keenly aware that the majority of loans being done now will be refinanced soon rates come back down…which is heavily anticipated to happen within the next 2 years or less. When that happens the servicing companies incur what is called a “run-off” where the loans are paid off and refinanced. That makes the value of the mortgages less today since they will not have the interest being earned for a very long period of time.
What does it mean to be in a “Seller’s Market”?
What does it mean to be in a “Seller’s Market”? Let’s review what the difference is between a Buyers’ Market and Sellers’ Market: Buyers’ Market: There are more houses on the market than Buyers. (Favors the Buyers) Sellers’ Market: There are more Buyers than Houses in the Market. (Favors the Sellers)
Real Estate News in Brief
Real Estate News in Brief – Existing home sales jumped in February, the first increase in 13 months, as buyers took advantage of 30-yr rates that were briefly near 6% in January. An inflation-focused Fed raised rates for the 9th-straight time, but suggested a pause from here is possible.
Palm Springs Top Destination Spot!
Palm Springs Top Destination Spot! Don’t you just love being here in the Desert? Whether you live here all year, some of the time, or just visit, this IS the best place to rest, relax, enjoy fine dining, and of course, play golf and/or tennis all year round. Who doesn’t love the Palm Springs area?
Denver Buyer Scammed out of $200,000
where a retired teacher and her daughter in Colorado who were getting ready to close on their new home were scammed out of $200,000? They were sitting at the closing table only to find out the title company DID NOT receive their funds for closing.