Financial

New Alliance With Bank of America

Remax Palos Verdes/Execs has formed a new alliance with Bank of America which will benefit our clients in several ways.  We now have access to the largest lender in the jumbo market.  Bank of America will loan 80% up to a $2,000,000 loan to qualifying borrowers.  This will help buyers (and therefore sellers) of Palos Verdes real estate.   Remax Palos Verdes/Execs clients will be given priority...


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First Time Buyer Credit

In Washington and beyond, the discussion is stirring as to whether to extend the First Time Home Buyer Tax Credit of $8,000 which is set to end November 30, 2009. I believe extending this credit will benefit homeowners across the board including owners of Palos Verdes Real Estate. At first glance, it may not look beneficial to owners of Palos Verdes real estate because the applicant's income cannot...


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Financial/Mortgage Update

In the last six weeks interest rates for Palos Verdes real estate have remained fairly steady. The interest rate for a 30-year fixed mortgage going down 1/4 point to 4.75% for a conforming loan and remaining at 5.785% for a jumbo loan. A 5/1 Year ARM is 3.75% for a conforming loan and 5.125% for jumbo loans. A 5/1 Interest Only conforming loan has a 3.75% interest rate and a jumbo loan has a 5.25%...


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