Mortgages

Palos Verdes real estate, mortgage information, loan points, annual percentage rate, APR, loan origination fees

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...

There were 18 homes on the September 29, 2009, Palos Verdes real estate Broker's Tour. We currently have 248 active single family homes for sale in Palos Verdes ranging in price from $750,000 in Rancho Palos Verdes to $18,900,000 in Rolling Hills (the low in Eastview is $565,000). There are 60 townhome for sale price between $218,000 and $1,500,000. My favorites were: Steven Watts' 3820 Via...

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...

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%...

Statistics for the month of August for Palos Verdes real estate are now available an for the third month in a row, the numbers are looking better. As you will note from the graph above, the number of active residential properties for sale in Palos Verdes have fallen from 434 August 2008 to 325 in August 2009. Additionally, for August 2009 both pending sales and sold/closed escrows have almost doubled...

The Point Vicente neighborhood is located in Rancho Palos Verdes near the intersection of Palos Verdes Drive West and Hawthorne Boulevard. This is a small neighborhood of only a six streets and about a half a mile long. This is one of my favorite neighborhoods because nearly every home has ocean views. As you enter the homes, you are greeted by a full ocean view from the living room and dining room....

It was a fairly quiet week in the financial/mortgage area which is a welcome change from the last several months. Rates are down slightly for all loans. The current interest rate for a 30-year fixed conforming loan is 5% and 5.875% for a jumbo loan. A 5/1 Year ARM is 3.625% for conforming loans and 5.125% for jumbo loans. A 5/1 Interest Only conforming loan has a 3.75% interest rate and a jumbo...

"The typical monthly mortgage payment for Southern California buyers last month was $1,193, up from $1,052 in May. Adjusted for inflation, current payments are 46% below typical payments in the spring of 1989, the peak of the prior real estate cycle" states the Los Angeles Times on July 16th. I checked and in 1989, the average interest for a 30-year fixed mortgage was 10.32%. That is twice as much...

I have just earned the prestigious Certified Distressed Property Expert designation having completed extensive training in foreclosure avoidance and short sales. Although we have not experienced many of these sales in Palos Verdes real estate, more are expected in the future. In a nutshell, I learned how to assist homeowners who are either behind in their mortgage payments or are having trouble...