West LA Real Estate | Santa Monica Houses For Sale | Brentwood | Pacific Palisades
Keller Williams
Robert & Barbara Schmalz
310.505.5571
bob_schmalz@wlaregroup.com
 

 
 

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mortgage interest rates

Mortgage rates hit record low of 3.94%– Are You On The Fence?

2011/12/15 – 9:35 am

The associated press reported this morning , that the average rate on the 30-year fixed mortgage fell back down to 3.94 percent, the record low set earlier in the fall. Low rates offer a great opportunity for those who can afford to buy or refinance. Still, few people are able to take advantage of them. Freddie Mac says the rate on the 30-year home loan fell from 3.99 percent the previous week. The National Bureau of Economic Research says 3.94 percent is the lowest rate ever.The average rate on the 15-year fixed mortgage fell to 3.21 percent from 3.27 percent. That’s also a new record.

West Los Angeles Real Estate Group works with their clients and our community to keep you up to date on Santa Monica Real Estate . This market will turn around and people who are waiting to see if it gets lower should be more concerned with mortgage interest rates. If you are still waiting for houses to drop another 5% well maybe they will but while you are waiting interest rates will go up  a 1/4 % wiping out that 5% lower house price and then some.

If you are interested in a Santa Monica House or Brentwood Condominium , now is the time to find your home.

I am Bob Schmalz a California Licensed Real Estate Broker you can reach me at any time at 310.505.5571 or email bob_schmalz@wlaregroup.com.

By Bob | Also posted in Blog, mortage loan, mortgage, mortgage best rates, mortgage broker, mortgage brokers, mortgage interest rate, mortgage loan, mortgage rates | Tagged , , , , , , , , , , , , , | Comments (0)

ARE YOU LIVING IN SANTA MONICA OR BRENTWOOD AND PAYING RENT?

2011/09/21 – 6:43 pm

I have written several times on this topic and unless you are in a rent controlled apartment for a long time I am sure you are paying too much to rent and not be a homeowner. Santa Monica condos and Brentwood Condos are at historic low prices. You can get a great condo for $400,000 to $450,000 where a few years back you were over $600,000. For those of you that keep saying prices will continue to go down you are not looking at the equation correctly. What you need to look at is the interest rate do you really think that will keep going down? We just went under 4% for a 30 year conforming loan.

Below you will see some numbers I have put together to show you, based on conservative estimates, why you need to stop renting and start to build equity and not build a drawer full of rent receipts. Stop helping the owner of your building pay his mortgage and build his equity.

West La Real Estate Group, serving the communities of the west side of Los Angeles including Santa Monica, Brentwood and Pacific Palisades can help you have your own house and pay less then you are now with renting and build equity. 

Call me to discuss how today’s real estate market is giving you an opportunity to get into being a homeowner at the most affordable prices in probably the last 40 years. You can reach me at 310.505.5571 or email to bob_schmalz@wlaregroup.com

By Bob | Also posted in Blog, mortage loan, mortgage, Mortgage Approval, mortgage broker, mortgage brokers, mortgage calculator, mortgage current rates, mortgage fixed rates, Mortgage Interest Deduction, mortgage interest rate, mortgage lenders, mortgage loan, mortgage payment, mortgage rates, mortgage rates forecast, mortgage refinancing, mortgages interest rates, mortgages loan, mortgages rates | Comments (0)

LOW INTEREST RATES ARE A GOOD THING, OR ARE THEY?

2011/08/30 – 3:59 pm

Earlier this month the fed said that they were going to hold interest rates at historical lows. So naturally borrowers were over joyed but who was forgotten were the people who are saving.

The Fed’s move was to make business and consumers look to investing in the economy in the form of leverage by buying expensive items like cars and houses for consumers or new systems and equipment for businesses.

The Fed is hoping that by keeping interests low it will push and move people and business to spend. So lets see how that is working for the Real Estate Industry — NOT!!!! Also I see more and more capital expenditures and investments going outside the country then are being made here.

Low interest rates also have contributed to 50-year troughs in mortgage rates, which are determined by a variety of interest-rate benchmarks. Freddie Mac reported average fixed mortgage rates rose modestly last week to 4.22%, after seven straight weeks of declines. A year ago, the 30-year fixed-rate mortgage stood at 4.36%. The 5-1 ARM slipped to 3.07%, setting a record low. Has this moved the Real Estate Market???  I have not seen any tremendous upsurge in sales, or Real Estate Prices.

If you’re on a fixed income facing rising costs for energy and food, or if you’re so wary of your money disappearing in the stock market that you’re sitting on a bank savings account full of cash. Most bank savings rates are below 1%.

Low interest rates hurt, too, if your retirement is dependent on interest income from certificates of deposit. Interest rates on a one-year CD have plunged to 0.42% from 2.38% just three years ago. Most money-market mutual-fund yields are at 0.01%.

The list of negatives goes on and on when it comes to low interest rate but the positives do not seem like they are really positive.

By Bob | Also posted in Blog, INTEREST, interest only mortgage, interest rates, interest rates today, Loans, low interest, lowest interest rates, mortage loan, mortgage, mortgage best rates, mortgage broker, mortgage current rates, mortgage fixed rates, mortgage interest, mortgage interest rate, mortgage lenders, mortgage loan, mortgage payment, mortgage rates | Comments (0)

Who Is A Person to Listen To??????

2011/08/15 – 8:32 am

Real estate agents and brokers say turmoil in financial markets is planting doubts in the minds of some would-be homebuyers even as it signals opportunity for others.

Plunging stock prices, downgrade of the U.S.’s long-term debt rating and lingering fears of a European debt crisis, has the talking heads doing it out of both sides of there mouths. Couple this with the Fed saying they are going to keep rates artificially low through 2013 really have them running in circles. Double dip recession— No double Dip, Higher Interest Rates — Lower Interest Rates etc

So far, investor flight to the relative safety of bonds and mortgage-backed securities that fund most home loans has pushed the cost of borrowing down — a boon for both homebuyers and homeowners looking to refinance.

In the West LA Real Estate Groups. Santa Monica House Market , Over the last several months our market demand has actually outpaced supply, we are beginning  to see multiple offers. The same holds true for Santa Monica Condos

So many buyers are staying on the fence because they see the stock market falling, Why? If you find a house or condo that says buy me and is at these historical low home prices and interest rates, why are you waiting. Yes if you are thinking of investing and flipping hold off. If this is your home to live in statistics say you will not move for 5 years. Talk to me and let me show you the numbers.

People who are looking at  Brentwood Condos and Santa Monica Houses, seem very motivated by the extremely low mortgage rates and house prices that are available, if anything, the issue that I see homebuyers having is a lack of inventory.

So stop listening to talking heads and newspapers that need to cause action of any type to sell papers, call me at 310.505.5571 or email to bob_schmalz@wlaregroup.com and let me send you the real facts in the neighborhoods you would like to live in.

By Bob | Also posted in Blog, brentwood, Brentwood House, Brentwood Houses, brentwood real estate, mortage loan, mortgage, mortgage best rates, mortgage current rates, mortgage interest, mortgage interest rate, mortgage loan, mortgages interest rates, mortgages loan, mortgages rates, Santa Monica, santa monica homes, Santa Monica Houses, Santa Monica Real Estate | Comments (0)

STOCK MARKET DROPS OVER 500 POINTS – MORTGAGE RATES HIT NEW LOWS

2011/08/04 – 4:05 pm

Here we go again The Sky Is Falling , The Sky Is Falling, — my chicken little routine!!!!!!!!!!!!!!!!!!
I just know that with Mortgage Rates (just click for a great article) reaching new lows and with house prices still depressed it is a great time to be buying. 5 Year Arms are in the 3′s and 30 yr fixed can be found at 4.37%

Check out the other sections of my websites for deals on distressed properties. Call me anytime and 310.505.5571 or email at bob_schmalz@wlaregroup.com

By Bob | Also posted in Blog, economy, education, INTEREST, interest only mortgage, interest rates, interest rates today, mortage loan, mortgage, mortgage agreement, Mortgage Approval, mortgage best rates, mortgage broker, mortgage brokers, mortgage current rates, mortgage fixed rates, mortgage interest, mortgage interest rate, mortgage lenders, mortgage loan, mortgage payment, mortgage rates, mortgages loan, mortgages rates | Comments (0)

YOU NEED A REASON TO GET OFF THAT FENCE AND BUY A HOUSE? TAKE A LOOK

2011/05/17 – 9:43 am

I know a lot of you out there are still on the fence if to buy now or wait until the house prices continue to drop. All indicators are that we are at the bottom of the market, if we arent at the bottom maybe we have 2% or 3% more to go or if we have hit bottom and turned the corner you will not know about it until it has already gione up 5%

My company West Los Angeles Real Estate Group watches the Santa Monica House market as well as those in Brentwood, Pacific Palisades and most of West LA. House prices are firjming and going up. There are very few short

So wile you wait for that $650,000 Santa Monica condo go down to $250,000 or that Pacific Palisades House to go from $1,499,000 to $700,000 look out for the numbers below. I will not go deep into it but just to point WE ARE AT THE LOWEST INTEREST RATES IN 40 YEARS.

If you would like me to run some numbers on the type of house you are looking to buy and the financing you will be using give me a call at 310.505.5571 or email to bob_schmalz@wlaregroup.com . Let me show you how while you are waiting to save $25,000 you will lose $100,000.

By Bob | Also posted in Blog, mortage loan, mortgage, mortgage best rates, mortgage broker, mortgage current rates, mortgage fixed rates, mortgage interest, mortgage interest rate, mortgage lenders, mortgage loan, mortgage payment, mortgage rates, mortgage refinancing, mortgages interest rates, mortgages loan, mortgages rates | Comments (10)