NOT LISTEDSANTA MONICA CONDO - SUNSET PARK2 BEDROOM / 2 BATH / 1400 SQ FTFOR LEASE --$4500 / MOS Quiet Unit in Great complex. Close to Pool and Spa this 2BR 1.75BA Condo has a large living room
WILL MORTGAGE RATES RISE OR WILL WE STAY BELOW 5 PCT FOR A FEW MORE YEARS
In Santa Monica Real Estate or places like Beverly Hills Real Estate a 1 point rise in interest rates can effect your monthly mortgage payments to go up $700. Even in less expensive sections of Los Angeles it will be over $500.
As you can see above, the interest rates have been well below 5% for over 3 years, for our younger first time home buyers this is not normal, they will be going up shortly and the talking heads, as the article points out, are saying over 5% next year.
This is not the first time I have said this but it is worth keeping in mind, if you are not a cash buyer and you will be financing stop worrying over that house that has gone up $25,000 or even $50,000 over the past two years keep your eyes open at the interest rates. West Los Angeles Real Estate Group has seen prices steady and more inventory coming into our market.... good news for buyers. Questions???? I have answers call me 310.505.5571 and lets talk Real Estate
DBA "West Los Angeles Real Estate Group" ....