My New Outside Blog

Here is what buyers received in seller paid concessions on June 2010 Las Vegas Area (Henderson - N Las Vegas - Las Vegas) Closes:

• Less than $500:  69% ($500 only buys you a home warranty or (no and) an appraisal)
• Between $501-4000:  18%
• Over $4001:  13%

This pretty much means that sellers aren't giving up much of anything since Las Vegas is a Seller's Market and in dire need of sellable inventory!  Inventory levels are rising just slightly and we are seeing some movement/improvement in this sector which is good news, especially for buyers who want/need closing costs!

Last Month's Concession Stand

 

 

  

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The Rolling Stones- Wild Horses - The funniest bloopers are right here

 

Please try and help the "Wild Horses" in Nevada by Robert Swetz (Vegas Bob) - "Please re-blog"

 

The Feds are continuing to case "Wild Horses" in the State of Nevada because they say the horses are dying from lack of water, etc.

Most of this information is a lie and the helicopters that are casing the "Wild Horses" are causing the horses to break their legs which in turn gives them the right to be shot to death.

Please try and help the "Wild Horses" that are left by re-blogging this post, copying it and emailing it to friends.

"Thank You"

 

Roundup of "Wild Horses" continues in the State of Nevada (Please re-blog to help save the horses) by Vegas Bob

 

Federal roundup of wild horses resumes in Nevada - USATODAY.com

Jul 22, 2010 ... A federal roundup of wild horses in Nevada was scheduled to resume ... TheBLM says the roundup of wild horses is a necessity because the ...
www.usatoday.com/news/nation/2010-07-22-wild-horses_N.htm - Cached

 

DAILY MORTGAGE RATE LOCK ADVICE
July 27, 2010, 6:35 PT
Lock Advice is Updated Several Times Daily

Today's Short Term Mortgage Rate lock Advice:  FLOAT with Caution.
MBS prices are up 0.15 point. 
Points are the cost for a rate.  One Point (1.000) equals 1% of the loan amount; i.e.: a cost of 1.000 point on a $125,000 loan is $1,250.
NOTE: MBS Prices are expressed as Basis Points (BPS) or in 32's and move opposite of mortgage rates.  Neither make sense to most consumers so MBS prices here will be translated to Points,  .

Long Term Mortgage Rate Lock or Float Advice:  FLOAT
The MBS Market finally broke through a rock solid price resistance level in existence since 2008.   This is very positive for rates as the resistance level could turn in to a very solid support level.  It will take a week or so to confirm the move but things look positive.

• National Average Fixed Rate Mortgage
  UP 0.01% at 4.54% on Jul.26
• 10 Year Treasury on Jul 26: 3.03% Up 0.01%
• DJI Stocks Currently $10,563.20,  Up 37.77, 0.36%
• Asia & Europe Indexes Up 1.11%
• Nymex Crude Oil Currently $79.40 Up  $0.42

___________________________________________________________

California Rates 07-26-2010, 8:00 PT
30 Year Fixed to $417,000
Rate 4.250%  Point 0.375, APR 4.362%
APR Based on $350,000 Loan at 80% LTV
740 Credit Score - 30 Day Lock.
Click for Quotes on FHA and VA loans With Detailed Cost Estimates.
 No Application Fee or Credit Report required

____________________________________________________________________________________

MORTGAGE MARKET NEWS IN REVIEW

Tuesday, July 27
Consumer Confidence comes out this morning.  It is expected to be slightly down.

Monday, July 26
New Home Sales report shows sales are up 24%.
Monday's best 30 year rate quote: 4.25%, .375 point, 4.362% APR

Friday, July 23
No economic data is scheduled today that would affect mortgage rates.

Thursday July 22
Jobless Claims were 464k, higher than the expected 450k..
June Existing Home Sales fell 5% to 5.37M,

Wednesday, July 21
No economic data will be released today.  Fed Chief Bernanke will deliver the semi-annual testimony to Congress at 2:00 PM ET

Tuesday July 20,
Housing Starts came in at 549k, below expectations

Thursday, July 15,
today's Producer Price Index (PPI) is -0.5%, -0.1%  was expected
Core PPI  came in as predicted
Jobless Claims came in at 429K where 450k was expected

Wednesday, July 14
Import Prices ex-oil  were down
Retail Sales are down more than expected

Tuesday, July 13
Trade Balance came in lower than expected without noticable affect on mortgage rates.

Friday, July 9
No economic date is scheduled today that could affect mortgage rates.

Thursday, July 8
Jobless claims were down 18,000 and slightly lower than expected.  The good news pushed mortgage rates up a bit during the day.

Friday, July 2
The economy lost 125,000 jobs in June, which was close to expectations.  The private sector added 83,000 jobs and 225,000 census workers lost their temporary work.

Thursday, July 1
Jobless claims came in higher than expected.
Construction Spending and  Pending Home Sales were less than expected.
ISM Incex was also less than anticipated. 
Typically, poor economic news is good for mortgage rates.

Wednesday, Jun 30
Chicago PMI came in at 59.1 as expected and indicates an expanding economy.

Tuesday, June 29,
Consumer Confidence was lower than expected.
The April Case-Shiller 20-city home price index showed a rise of 0.8% from March, the first monthly increase since September.

Monday, June 28
Personal Income came in close to expectations. 
MBS prices closed up 16/32 and many lenders inproved their mortgage rates midday.

Friday, June 25
Consumer Sentiment rose to the highest level since January 2008.

Thursday, June 24
Durable Orders were -1.1% when they ware expected  to be 2.8%
Jobless Claims imporved slightly.

Wednesday,  June 23
New Home Sales dropped 33% from April, far below the consensus.

The Fed made no change in the fed funds rate and Mortgage rates showed little reaction.

Tuesday, June 22
Existing Home Sales came in at 5.66M which was lower than expected. CPI inflation came in close to expectations with almost no effect on mortgage rates..

Wednesday, June 16

• Lots of news this morning and, so far, it has not significantly impacted mortgage rates.
• May PPI fell -0.3% from April due to a decline in energy prices
• PPI was 5.3% higher than one year ago
• Core PPI  was 1.3% higher than one year ago.
• May Housing Starts fell 10% to 593K.
• Building Permits declined 6% to 574K, the lowest level in a year
• The Mortgage Bankers Association weekly purchase activity index rose 7%, while the refinancing
• activity index increased by 21%

Tuesday, June 15
The Empire State index came in close to expectations

Friday, June 11
MBS prices jumped  when Retail Sales came in lower than expected, lowering mortgage rates slightly at opening.

Thursday, June 10
Jobless claims came in at near expectations. 
MBS prices dropped 25/32 causing several lenders to increase their mortgage rates mid day.

Friday, June 4
May Employment report showed a 431K job increase, which was lower than expected

Thursday, June 3
Lots of news that had no real effect on mortgage rates:
Jobless Claims came in close to expectations.
First quarter productivity was revised lower to 2.8% from 3.6%
The Fed's  Lockhart said the Fed may have to begin hiking rates even while unemployment is considerably higher than before the recession.
Factory Orders were 1.2, close to expectations
ISM Services Index, 55.4 as predicted

Wednesday, June 2
April Pending Home Sales rose 6%, which was higher than expected.

Tuesday, June 1
Construction spending came in stronger than expected

Friday, May 28
Today's economic data was close to expectations and had little impact on mortgage rates today.
The Chicago PMI manufacturing index fell to 59.7.
April Personal Income rose 0.4%.
The Core PCE price index, the Fed's inflation measure, increased at a low 1.2% annual rate.

Thursday, May 27
Today's mortgage rates are being hammered by the strong stock market.  Jobless Claims and GDP came in close to expectations and had little impact.

Wednesday, May 26
Durable Orders exceeded the consensus.
April New Home Sales rose to an annual rate of 504K units, way above the consensus forecast of 425K, and the highest level since May 2008.

Tuesday, May 25
Tensions between North and South Korea have caused money to fly to safety. from stocks to bonds which helps mortgage rates.
Consumer Confidence came in at 63.3, above the consensus forecast of 58.5 which helped  Stocks recover from down almost 300 earlier in the day.

Monday, May 24
Existing Home Sales were 5.77M, higher than the consensus of 5.65M.  The news did not effect mortgage rates.

Friday, May 21
No economic reports are scheduled today so mortgage rates will be primarily driven by the stock market.  DJI has recovered from down 148.73 shortly after the opening bell.

Thursday, May 20
Jobless claims higher than expected.   Stock market weakness is pushing Mortgage Rates down this morning.
Oil prices fell as low as $65 per barrel, reaching the lowest level since July 2009. 

Wednesday, May 19
CPI inflation was very close to expectations at low levels.

Tuesday, May 18
Mixed Producer Price Index (PPI) and slightly increased Housing Starts which initially had little effect on MBS.   Later, the stock market  turned negative, which lifted MBS markets and lowered rates.

Monday, May 17,
The Empire State index fell short of the consensus forecast

Friday, May 14
Retail Sales came in close to expectations

Thursday, May 13
Weekly Jobless Claims at 444K, close to the consensus forecast of 440K. 
Demand was close to average for the 30-yr auction.

Wednesday, May 12
The March Trade Deficit rose to $40.4 billion, which was a little higher than the consensus forecast.

Tuesday, May 11
Demand was stronger than average for the 3-yr auction,

Monday, May 10
The big news effecting stocks this morning is that the European Union will make available $1 trillion to support Greece and other European Union members which are experiencing economic troubles.

Friday, May 7
The economy added 290K jobs, above the consensus of 190K, while the Unemployment Rate rose to 9.9% from 9.7%.

Thursday, May 6
This morning, weekly Jobless Claims fell to 444K, close to the consensus forecast of 440K.

Wednesday, May 5 - Bad news for EU is good news for US Mortgage Rates.
Early this morning the ADP jobs estimate for April was expected at +30K, as reported +32K; March was revised by ADP from -23K to +19K. A good report on jobs but there was no reaction to it in markets that are completely consumed with the unraveling of events in Europe and concerns that the EU may be permanently altered as the crisis of debt defaults has not been contained. All focus now is on safety to US treasuries and fears of a stock market decline. US stock markets will suffer as the euro currency falls against the dollar, investors will be leery of buying US equities as the dollar strengthening takes away buying from European and foreign investors in general.

Education is Consumer's Only Real Protection. 

• What You Should Know About APR
• How To Shop for Mortgage Rates.
• Beware of Misleading Lender Advertising
• Education is the best consumer protection
• Rates and Point Relationship Explained

Bill Ladewig

800.664.7283 (SAVE)

Bill@YourFhaGuru.com

Website

 

 

 

Bill Ladewig is a Mortgage Broker Licensed by the California Department of Real Estate 00968137

 

 

 

 

San Diego FHA and VA Home Loans Escondido Mortgages Escondido Localism San Diego FHA and VA Home Loans San Diego Localism San Diego UFMIP Escondido Mortgages Escondido Localism San Diego Mortgage Ultimate Mortgage Calculator

As I came out of the supermarket that sunny  day, pushing my cart of groceries towards my car, I saw an old man with the hood of his car up and a lady sitting inside the car, with the door open.
                          
The old man was looking at the engine. I put my groceries away in my car and continued to watch the old gentleman from about twenty five feet away.
                           
I saw a young man in his early twenties with a grocery bag in his arm, walking towards the old man. The old gentleman saw him coming too and took a few steps towards him.
                                               
I saw the old gentleman point to his open hood and say something.  The young man put his grocery bag into what looked like a brand new Cadillac Escalade and then turn back to the old man and I heard him yell at the old gentleman saying,
                                                 

'You shouldn't even be allowed to drive a car at your age.' And then with a wave of his hand, he got in his car and peeled rubber out of the parking lot.
                                              

I saw the old gentleman pull out his handkerchief and mop his brow as he went back to his car and again looked at the engine. 
                           
He then went to his wife and spoke with her and appeared to tell her it would be okay. I had seen enough and I approached the old man. He saw me coming and stood straight and as I got near him I said, 'Looks like you're having a problem.' 

                           
He smiled sheepishly and quietly nodded his head. I looked under the hood myself and knew that whatever the problem was, it was beyond me. Looking around I saw a gas station up the road and told the old man that I would be right back... I drove to the station and went inside and saw three attendants working on cars. I approached one of them and related the problem the old man had with his car and offered to pay them if they could follow me back down and help him.
                           
The old man had pushed the heavy car under the shade of a tree and appeared to be comforting his wife. When he saw us he straightened up and thanked me for my help. As the mechanics diagnosed the problem (overheated engine) I spoke with the old gentleman.
                           
When I shook hands with him earlier, he had noticed my Marine Corps ring and had commented about it, telling me that he had been a Marine too. I nodded and asked the usual question, 'What outfit did you serve with?'
                       
He had mentioned that he served with the first Marine Division at Tarawa, Saipan, Iwo Jima and Guadalcanal .
                       
He had hit all the big ones and retired from the Corps after the war was over.. As we talked we heard the car engine come on and saw the mechanics lower the hood. They came over to us as the old man reached for his wallet, but was stopped by me and I told him I would just put the bill on my AAA card.
                           
He still reached for the wallet and handed me a card that I assumed had his name and address on it and I stuck it in my pocket.. We all shook hands all around again and I said my goodbye's to his wife. 

                           
I then told the two mechanics that I would follow them back up to the station. Once at the station I told them that they had interrupted their own jobs to come along with me and help the old man. I said I wanted to pay for the help, but they refused to charge me.
                           
One of them pulled out a card from his pocket looking exactly like the card the old man had given to me. Both of the men told me then,that they were Marine Corps Reserves. Once again we shook hands all around and as I was leaving, one of them told me I should look at the card the old man had given to me. I said I would and drove off.
                           
For some reason I had gone about two blocks when I pulled over and took the card out of my pocket and looked at it for a long, long time. The name of the old gentleman was on the card in golden leaf and under his name.......   
            

 'Congressional Medal of Honor Society.'
                           
I sat there motionless looking at the card and reading it over and over. I looked up from the card and smiled to no one but myself and marveled that on this day, four Marines had all come together, because one of us needed help. He was an old man all right, but it felt Good to have stood next to greatness and courage and an honor to have been in his presence. Remember,

OLD men like him gave you FREEDOM for America .

Thanks to those who served...& those who supported them.

America is not at war. The U.S. Military is at war.. America is at the Mall.. If you don't stand behind our troops, PLEASE feel free to stand in front of them! 

                           
Remember, Freedom isn't Free, thousands have paid the price so you can enjoy what you have today.

 

 

Everything you want 2 Know about Dana Devine

Visit the best Mortgage Loan Officer I know

http://www.devineshowcasehomes.com

cell 813-748-4115

email: dana@devineshowcasehomes.com

Original Source: Renters Key To The Housing Recovery

When economies fall on hard times, people start thinking more short term, and they struggle to live day to day. Today’s economy definitely fits into this category. Because people are trying to live day to day and are looking more short term, the housing market is in a shift.

Previous homeowners are losing their homes through foreclosure and job loss. People are leaving their underwater homes through strategic defaults to start over. These previous homeowners are in need of housing. Some will live with family, but most are looking to rent a home.

Obviously the more people looking to rent, demand goes up, and rental prices will rise. As rental prices rise, if home prices are still falling, the housing market will recover. How? Let me explain:

 

What Happens When Renting Becomes More Expensive And Home Prices Fall?

As home prices continue to fall, as long as rental demand goes up, you will see a truly stable market come into fruition. People will always need housing and if it becomes more expensive to rent a home then buy, people will make the necessary sacrifices to buy a home over rent.

According to Yale economist Robert Schiller:

“If you look at the trend in rents to see where housing prices are headed, you’re looking at the right measure.” – Money.CNN.com

Economist’s know that if you follow rental trends you can guage housing trends. As the price of renting drops, more people will choose rent over purchase. As rental prices increase, more people will find value in owning.

 

Lending Standards Forcing More People To Rent Is A Good Thing

 

As lending standards continue to grow more stringent, people without money to put down on a home will be left to rent. This is a good thing, for the housing market anyways, not so much for the renter.

If you talk to anyone looking to find a home for rent today, ask them if they are getting everything they wanted. Is the location right? Is the price right? Are they happy with the landlords conditions? How many rentals did you miss out on due to high demand before you found a property to rent? Why are you renting over buying?

That last question is usually answered with a problem to obtain financing to own a home.  Sure, some people rent for other reasons, but a large majority would prefer to own a home over rent.

 

More People Looking At Lease Options Show A Slow Rental Market

Over my 9 years in real estate, I have had one lease option close. The lessor actually went through with the terms of the contract and bought the home. Most times this is just not the case.

People interested in lease options can’t afford to buy a home, have little or no credit, or need to work on bad credit to purchase.  When I think of lease options, I think of a renter that isn’t satisfied with the rental market, otherwise they would just rent until they could buy a home.

We have a property management company within our real estate brokerage. They have no inventory to rent. All rentals are secured with 100% occupancy and everyday we get more and more inquiries for rental properties and we have to turn them away due to lack of inventory.

This proves, at lease in my area, the housing market is on the road to recovery.  Why? Investors.

 

Investors Are The Key To The Housing Market Correction

There is no question that inventory levels in housing markets across the nation are at astronomical levels. Sure, some markets are doing pretty good, but most housing markets are saturated.

High inventory = Less demand = Lower prices

Usually, when home prices drop, rental prices drop. Owning a home becomes more affordable, and rental owners have to drop their prices to keep their investments occupied. Today’s market is different.

Renting is becoming more expensive due to credit becoming harder to obtain, people walking away from homeownership through strategic defaults, and decreased rental inventory.

 

It’s a good time to be an investor, don’t you think?

According to Robert Schiller, the Yale economist, the normal costs of rent to own ratio is 87%. Which means, people will be more willing to pay for housing if it only costs 13% more to own a home.

During the bubble,  americans were paying 66% more to own than rent.  This number is still incredibly high, which means, rental properties are in high demand.  With homes becoming more affordable, and rental demand on the rise;. investors that plan on renting out properties should be salivating.

The smart investor is watching this trend closely. If investors start buying up properties for rentals, inventory will decrease. And through rental demand, the housing market will start to show a true recovery.

In order for the housing market to recover, plain and simple, we need more renters to entice investors to spend more money.

 

Lisa Udy

Platinum Real Estate Group

Please Help Carolyn Capalbo

Age Restricted (55+) Communities are scattered throughout the valley.  Many offer a variety community amenities for Seniors who enjoy active lifestyles.

Sun City Anthem is located in the Anthem Area of Henderson, NV (zip 89052 and 89044).  There are 7312 Homes in Sun City Anthem ranging from 1080-4567 Square Feet.  Community Amenities Include:  Community Golf, Gym, Pool, Spa, Tennis, Clubhouse and Recroom

Sun City Anthem Market Report:

• Listings (6/15/2010):  124
• Under Contract (6/15/2010):  88
  
• Sold May 2010:  24

Since Last Month's Report:  Listings DOWN -11, Contracted Escrows UP +10, Solds DOWN -16.  Sun City Anthem is currently enjoying a seller to stable market.

Renee Burrows carries the SRES (Senior Real Estate Specialist) Designation and has Probate and Estate experience.  If you need a referral to a Probate or Estate lawyer, please contact me!

Seniors Real Estate Specialists® are REALTORS® qualified to address the needs of home buyers and sellers age 50+. The SRES® Council awards the SRES® Designation to those members who have successfully completed its education program.

By earning the SRES® designation, your REALTOR® has demonstrated necessary knowledge and expertise to counsel clients age 50-plus through major financial and lifestyle transitions involved in relocating, refinancing, or selling the family home. Your REALTOR® has received special training, gets regular updates, and is prepared to offer the options and information needed in making life changing decisions.

For Last Month's Sun City Anthem Market Report Click Here

For Most Current Sun Cities Market Report Click Here

 

 

  

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